Our Northwest Economy

How to Curb Impulse Spending and SAVE

(Flickr photo by ES)

Lead:  Black Friday shoppers may have been thrilled with their discounts, but may not be so happy when their credit card bills arrive.  Sueann Ramella speaks with a Professor of Psychology about impulse spending for Our Northwest Economy.

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Characteristics, Costs, and Issues for Organic Dairy Farming (Report)

This exhaustive report was release November 9th, 2009 by the United States Department of Agriculture, Economic Research Service (USDA, ERC). The survey was conducted by the National Agriculture Statistics Service.

"This report attempts to shed light on the structure of organic milk production, factors affecting whether a dairy becomes organic, and the relative costs and returns of conventional and organic milk production." -- William D. McBride and Catherine Greene

Report Conclusions:

Buying Local

 

(Banner art from Rural Roots)

Host intro: On today’s “Our Northwest Economy” feature, Mary Hawkins and WSU’s Andrew Cassey discuss the Buy Local movement.

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Two Depression Era Stories: Joan Harris and Leonard Davies

(pictured: Joan Harris in the 1930s)

Recently most Americans were hit with a financial setback - either the value of retirement funds, a loss in home value or the loss of a job. But what if we were hit with the kind of poverty common during the Great Depression? Sueann Ramella spoke with two people who were children in the 1930s - about the life lessons they learned during that challenging time.

Fewer Turkey Farmers in Northwest This Year

RICHLAND, WA – This Thanksgiving turkey farmers are thankful for a better year than 2008. But the Northwest has far fewer turkey farmers than it used to. Correspondent Anna King found out why.

WA Budget Worst in 80 Years - Deep Program Cuts Possible

OLYMPIA, WA - Washington Governor Chris Gregoire says the state's projected budget shortfall is the worst in 80 years. The latest estimate was released yesterday.  She said the situation is so dire that entire programs could be eliminated. By law, the budget needs to be balanced.

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Potential Closure of U of I Ag Center May Hurt Idaho's Economy

(photo: University of Idaho plant researcher Danny Barney grows berry plants from seed in his lab at the Sandpoint Research Center. They hope to grow huckleberries as a commercial crop one day.)

SANDPOINT, ID - Northwest colleges and universities have been tightening their belts in this tough economy. Some are dropping degree programs and refocusing their basic fields of study. But the University of Idaho is proposing cuts even in places that go to the core of its agricultural mission as a land-grant institution. Within the next few weeks, the university expects to announce whether it’s closing three ag research facilities.

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Oregon Settles with Oppenheimer on College Investment Debacle

SALEM, OR - Some Oregonians who lost money in their child’s college savings fund will get a portion of it back. The state of Oregon today announced a $20 million settlement in a lawsuit against OppenheimerFunds. The state accused the firm that managed the Oregon College Savings Plan of making reckless investments that led to huge losses, even in funds that were supposed to be low-risk. Oregon Treasurer Ben Westlund said Oppenheimer violated the trust of parents.

Westlund: “When we place faith in these large investment houses, we expect certain performance and fiduciary responsibility on their part that they failed to perform.”

The $20 million will be split among roughly 45,000 accountholders in the Core Bond Fund of the College Savings Plan. The average payment will be about $440, but specific amounts will be based on how much money each family invested and for how long. The Oregon Attorney General’s office says the money will be deposited into accounts by the end of February.

Copyright 2009 Northwest News Network

On the Web: Oregon College Savings Plan

Oregon Officials Optimistic About Tax Amnesty

SALEM, OR - Oregon’s first-ever tax amnesty program is on track to meet or exceed its goal, according to the state’s Department of Revenue. Agency director Elizabeth Harchenko told lawmakers today that delinquent taxpayers have forked over nearly $11 million so far. That’s short of the $17 million lawmakers expected to take in. But even though the deadline to apply for amnesty is today, amnesty applicants have two more months to actually file their tax returns. The news pleased Democratic Senator Ginny Burdick, who sponsored the bill that created the amnesty program.

burdick: “It seems to me very reasonable to expect that we could fairly substantially exceed our expectation.”

Under the amnesty program, the state waives all of the penalties and half of the interest owed by people who qualify. Tax delinquents who could have applied but don’t will be slapped with an additional 25 percent penalty. (Chris Lehman)

Copyright 2009 Northwest News Network

On the Web: Oregon Tax Amnesty website

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Kulongoski Takes a Closer Look at the Business Energy Tax Credit

SALEM, OR - Governor Ted Kulongoski is asking the leaders of two state agencies to take another look at what's called the Business Energy Tax Credit. The program has proven more costly than anticipated. Recent reports show that initial estimates drastically underestimated how many millions of dollars the state would wind up losing through tax incentives for renewable energy projects.

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