Our Northwest Economy

WA Promises College Scholarships to Low-Income H.S. Grads

(photo: Ferrucci Jr. High student Donovan Fuselier and counselor John Frazier (rear) discuss the College Bound Scholarship. Courtesy of Tom Banse.)

PUYALLUP, WA - Word is getting out about a remarkable guarantee Washington State is making to foster children, welfare kids, and other low income 7th and 8th graders. The promise is this: If you stay in school and stay out of trouble, the state will provide a four year scholarship to college. More than forty-three thousand students have signed up for that deal and counting. However, there's possible trouble on the horizon. The Washington Legislature hasn’t set aside much money to cover its mounting obligation.

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Scholarship Fund Started for Slain Police Officer's Children

OLYMPIA, WA - Some 20,000 mourners are expected at today's memorial for four murdered Lakewood police officers. Meanwhile, efforts continue to raise enough money to pay for college for all nine of the officers’ children.

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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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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.

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

Losing Major Debt: One Couple's Story

(Pictured: Brian Fretwell, Jamie Van and friend)

 

Host intro:  You’ve probably heard your friends say it, or have said it yourself: "I’m going to pay off this credit card debt". But another year goes by and the bills keep coming. In Our Northwest, Sueann Ramella talks with a man who paid off a substantial amount of debt by asking himself a simple question.

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New Federal Report Shows More People Went Hungry in 2008

COEUR D'ALENE, Idaho - The federal Agriculture Department reports more Americans are going hungry because of the recession. Today (Monday), the agency released its annual “food security” survey. Correspondent Doug Nadvornick reports the state of Washington is following the national trend.

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Your Money or Your Life: Chasing the American Dream

(Flickr photo by DavidDMuir)

Host intro: Personal financing books are very popular - especially those that promise you’ll become a millionaire if you follow their investment advice. But can all of us become millionaires? Sueann Ramella spoke with the author of Your Money of Your Life about the pursuit of financial independence and the definition of the American Dream.

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Northwest Economy May Struggle A While Longer

COEUR D’ALENE, ID – The Northwest job market will stay sluggish for the next year. That prediction comes from at least one economist. Idaho’s October jobless rate has remained flat, while Washington and Oregon’s employment reports will be released next week.

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Recession Pinches People’s Generous Instincts

More than one in three Americans tell pollsters that they're giving less to charity in this recession. The consequences are showing up on the bottom lines of large Northwest charities, including the one that commissioned this survey. Correspondent Tom Banse has more.

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