|| Print ||
|Wednesday, October 28, 2009|
The latest numbers show that Oregon has lost 124,300 jobs since I took this job in December of 2007. Clearly my writing is not good for the state’s economy. So forgive me if I dispense with the cheerleading and point out a few observations that give me reason for concern.
It starts with the banks. Lake Oswego-headquartered West Coast Bank is the latest to receive an ominously worded “cease and desist” order from the FDIC. That makes three important regional banks struggling for survival, if you add Columbia River Bank of The Dalles and Bank of the Cascades in Bend. Plus the complex situation of ShoreBank Pacific, which is wholly owned by a holding company operating under a cease and desist order of its own. These banks have to improve their capital positions or else, and that means they will be more reluctant to loan than ever.
Then there’s retail. Is it me or is the premature Christmas glitter looking even more desperate than usual this season? I realize that retail drives the economy, 70% of which is based on consumer spending. But is it really the duty of every American to purchase all the world’s plastic junk? Consumers lack confidence for a reason. With so many companies cutting costs, salaries and jobs, how much longer can consumers be expected to over-spend?
Next, there’s politics. I don’t like to write about politics, so I will keep it brief. The revived effort to kick Sam Adams out of office is not helpful. Can we please move past this?
Finally, there is my own profession, journalism. The latest circulation figures show that the Oregonian’s 12% drop was actually good compared to some of its peers. That is pathetic. The nation has lost thousands of journalism jobs over the past year, a trend that is bad for democracy as well as the economy. Does anyone really believe that citizen journalists will fill the gap by breaking stories about the CIA’s payments to Hamid Karzai’s drug-dealing brother? I don’t see that happening. It’s one thing to overhear a political blunder and blog it out, and quite another to dig up unpleasant truths about people in power.
Forgive my pessimism. Perhaps if the Dow would pop over 10,000 and stay there for, say, three days in a row, I would get over it.
Besides, the evidence would seem to indicate that the the relationship between the optimistic tone of previous Jobs Watch posts and actual gains in the state economy is inversely proportional. Perhaps the same will hold true in reverse.
|How Doug Badger spends his downtime|
|Port at a crossroads|
|Our man in Congress|
|100 Best awards 2014|
|McDonald's U.S. Q1 profits decline|
|Americans question Big Bang theory |
|Skin cancer rates 'surge' since 1970s|
|Teen survives 5-hour flight in jet wheel well|
|NASA discovers first potentially habitable planet|
|Effects of childhood bullying last a lifetime|
|Scientists make first embryo clones from adults|
Marketing the state brings new business, new jobs and a better quality of life for everyone.
Living in the beautiful Pacific Northwest means enjoying our wonderful surroundings, while remaining aware of the multiple types of natural disaster threats that we face: winter storms, windstorms, floods, landslides, earthquakes, volcanoes and tsunamis.“
Oregon State University's hospitality degree program invests in next-generation leaders.
On Saturday, April 26, more than 1,900 local Comcast employees and their families, friends and community partners will “make change happen” as they volunteer to improve schools and nonprofits in Oregon and Southwest Washington as part of Comcast’s 13th Comcast Cares Day.
NAI Norris, Beggs & Simpson just completed their newly rebranded First Quarter Market Reports. Not only does it feature a brand new format, but the report ensures accuracy due to the annual truing up of their database.
Samuel Hernandez, an Associate at Barran Liebman, is the recipient of a 2014 Oregon State Bar Litigation Section Rising Litigator Award.