Thursday Morning's Market Report
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Troy Reinhart
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BEND, OR -- Interfor, owners of the Gilchrist sawmill posted a net loss of almost $3 million in Q2. The company says demand for commodity forest products remains soft and they continue to have a cautious outlook.
Grocery giant Safeway says they have worries about deflation and decreasing profits. The company posted a smaller profit of $141 million on higher sales as margins tightened. They say sales revenue will decrease 3% this year.
Sterling Bank posted a massive $58 million loss in the 2nd quarter. Most of the loss is attributed to the sale of non-performing assets - bad loans - and the bank continues to be under the microscope of regulators.
I'm Troy Reinhart at Northwest Quadrant Wealth Management.
If you see local news happen, call the Horizon Broadcasting Group News Tip Hotline at 541-323-NEWS, or email us.
Friday, 03 September 2010 04:36 am
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