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Wednesday, January 23, 2008

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Wednesday, January 23, 2008

Economy suffers bear of a day
Oregon's '08 recession, if it comes, likely would spread pain selectively. The economic tornado would hit certain industries and products, and glance off others. Like December's flooding, economists say, it could devastate portions of Oregon and leave parts unscathed.

Powell's moves onward by moving upward
Powell's Books plans to add a story or two.

Rate cut could buttress sagging mortgage industry if consumers rush to refinance
It remains to be seen whether the Federal Reserve's interest rate cut Tuesday will avert a recession. But it's good for Don Christensen.

Investors: Assess risk, fight urge to reshuffle
With the market dropping, the economy softening and prices spiking, it's an unsettling time for most Americans. Here are some answers to key questions consumers face in their investing decisions:

Major banks report plummeting earnings
Hurt by the deepening credit crisis, Bank of America Corp. said Tuesday its fourth-quarter earnings nosedived 95 percent, while Wachovia Corp. saw its earnings tumble 98 percent.

Apple's forecast sends stock price down
SAN JOSE, Calif. -- Apple Inc. blew past Wall Street's bullish expectations in the fiscal first quarter with a 57 percent jump in profit, but a dramatically lower forecast sent shares plunging on fears about slowing consumer spending on electronics.

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High court rejects Enron investors
WASHINGTON -- The Supreme Court dealt a blow Tuesday to Enron investors who sued major investment banks to recover money lost when the energy giant collapsed amid a massive accounting fraud.

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NEWS UPDATE: COMCAST RATE INCREASE

State lacks its own tools to cope with slowdown
As federal policymakers rush to prime the nation's economic pump, Oregon officials have few comparable stimulating levers to pull, little control over the region's near-term economic destiny, and plenty of reason for concern.

Wireless firms lose ruling
In a loss for wireless communications providers, the U.S. Supreme Court let stand Tuesday a lower court ruling preventing the industry from listing taxes and other government fees as separate line items on consumers' bills.

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