economy

Mortage Settlement
5:56 am
Fri February 10, 2012

Washington AG says settlement will help struggling homeowners

Washington Attorney General Rob McKenna.
Source: Washington Attorney General's Office

OLYMPIA, Wash. -- After a year of negotiations, states, federal regulators and five of the biggest lenders have reached a $25 billion dollar settlement to change foreclosure practices. The goal of the settlement is to impose new restrictions on banks, and to fund loan modifications for homeowners. Backers hope the agreement will also help stabilize the housing market. KUOW’s Amy Radil reports.

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Oregon Prison Cuts
5:42 pm
Thu February 9, 2012

Lane County Cuts Jail Beds, Deputies

Lane County Sheriff's Office (Eugene, Oregon)
Photo by Wikimedia User Visitor7 Wikimedia Commons

EUGENE, Ore. -- The Lane County Sheriff plans to lay off up to 90 people and close more than one hundred jail beds. That's because the county is losing $14 million in federal timber payments.

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Northwest Regional News
6:48 pm
Tue January 31, 2012

University of Oregon Faculty Seek to Unionize

University of Oregon faculty members are collecting signatures in an effort to establish a union. It would be comprised of all full and part time professors and instructors -- about 2,000 members. KLCC's Rachael McDonald has more.

The group United Academics of the University of Oregon has been gathering support for the union effort this month. But it's a process that began in the fall according to Michael Dreiling, an Associate Professor of Sociology.

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Washington Credit Rating
6:44 am
Tue January 31, 2012

Two Ratings Agencies Lower Wash. Credit Outlook

Standard and Poor's recently downgraded Washington State's credit outlook.
Beyond My Ken Wikimedia Commons

OLYMPIA, Wash. - Two credit rating agencies have delivered a warning to the State of Washington to get its financial house in order. The ratings agencies lowered the outlook for Washington state debt, citing the magnitude of the budget shortfall. Correspondent Tom Banse reports.

Washington state is refinancing or selling more than $1 billion in bonds in the coming weeks. That's the reason Standard & Poor's (S&P), Moody's Investors Service, and Fitch Ratings revisited the state's credit rating.

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Oregon State Budget
6:30 am
Tue January 31, 2012

Oregon Lawmakers Will Tackle Revenue Shortfall In February Session

The Oregon Legislature will face lower revenues than expected this year.
Owen Wikimedia Commons

SALEM, Ore. – Oregon lawmakers return to Salem on Wednesday with a fiscal challenge on their hands. Expected revenues have fallen sharply since the legislature created the current spending plan last summer. As Salem Correspondent Chris Lehman reports, Lawmakers expect to hear more bad news soon after they arrive back in town.

Oregon lawmakers plan to be at the capitol for about a month. One of the first things they'll do is get the latest predictions about the state's revenue picture.

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Northwest Regional News
8:08 am
Mon January 30, 2012

Tolling Overcharges On Highway 520

Washington State transportation officials say they'll issue refunds after a glitch in the tolling system on the Highway 520 bridge caused drivers to be overcharged twenty-five cents.

Motorists who made the trip between Seattle and Bellevue from January seventeenth to twenty-fifth will get a refund, even those who were billed correctly. The twenty-five-cent transaction fee is charged for those who travel the bridge infrequently and pay by the license plate.

State officials say the billing problem was related to the toll equipment's internal clock.

Northwest Regional News
7:21 am
Mon January 30, 2012

Wash. Lawmakers Consider Budgeting Education First

OLYMPIA, Wash. – For years, Republicans in the Washington legislature have demanded that state lawmakers vote on the education budget first. Democrats have generally rejected that idea. But this week, for the first time, a “fund education first” proposal will get a public hearing. Azusa Uchikura has more from Olympia.

What’s fueling the decision to consider the education budget first is a ruling earlier this month by the Washington Supreme Court. In McCleary v. Washington, the justices said state lawmakers are not adequately funding education.

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737-MAX
6:59 am
Mon January 30, 2012

Boeing Makes Its Largest-Ever European Sale

Boeing sold 100 737 MAX airplanes to Norwegian Air Shuttle.
Boeing

The Boeing Company ended 2011 having sold about half as many airplanes as its France-based rival, Airbus. Now, less than a month into the new year, Boeing has inked its largest deal ever with a European airline. The aerospace giant is on track to overtake Airbus for the first time in years. From France, Liam Moriarty reports.

Oslo-based Norwegian Air Shuttle is the first European carrier to buy Boeing's revamped 737 MAX -- 100 of them. The deal is seen as another industry vote of confidence in the updated version of Boeing’s workhorse model.

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For many refugees, employment difficult to find
6:27 am
Mon January 30, 2012

A Young Refugee Searches for a Place in Idaho’s Reshaped Economy

Most days, Nowela Virginie and her two young daughters are here, in her small apartment just off a busy thoroughfare on the outskirts of Boise.

Virginie is 23, and she arrived in Boise three years ago. She was born in Rwanda, but spent 16 years of her life in a refugee camp in Tanzania. She remembers the shock of finding herself in a new city, a place that looked nothing like anywhere she’d ever been. "When I coming USA, nobody can explain to me how USA is to look like, nobody can explain to me," she says.

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Congressmen hope to allow logging on public lands.
5:59 am
Fri January 27, 2012

DeFazio and Walden Appear in Grants Pass to Promote Timber Trust Bill

DeFazio and Walden want to allow for more logging in Oregon Cascade forests such as the Santiam State Fores, pictured here.
Jason McArthur Wikimedia Commons

GRANT'S PASS, Ore. – Oregon Congressmen Peter DeFazio and Greg Walden appeared together in Grants Pass Thursday. They were pushing their proposal to open up some public forests to logging. Amelia Templeton reports they were tight lipped about the details.

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