Briefcase
WASHINGTON – The last read on the economy before the midterm elections found Americans are spending a little more but not nearly enough to bring down high unemployment – one final bit of bad news for Democrats.
The economy expanded at a 2 percent pace from July to September, the Commerce Department said Friday. It marked a slight improvement from the scant 1.7 percent growth rate in the previous quarter.
Economists figure it takes growth at a rate of about 5 percent for a full year to lower the jobless rate by a percentage point.
The economy is the top issue for voters. More than 70 percent say it’s in poor condition, according to a Associated Press-GfK Poll, conducted earlier this month.
Associated Press
SEATTLE – Boeing says in an announcement from Moscow that a Russian company has ordered 50 new 737s worth $3.7 billion at list prices.
Boeing and State Corporation Rostechnology said Friday they finalized the order first announced at a September forum in Russia. The order includes purchase rights for an additional 35 Boeing 737s.
The planes will be used by Russian airlines on domestic and international flights.
The 737 is Boeing’s best-selling jetliner. About one a day rolls out of the factory in Renton. Boeing says it’s increasing production to 35 per month in 2012 and 38 a month in 2013.
Associated Press
LEWISTON – A Clearwater Paper official says the company expects to receive $24.7 million in federal tax credits for alternative fuels.
Linda Massman is Clearwater Paper’s chief financial officer.
She tells the Lewiston Tribune that the company will receive the money due to black liquor, a byproduct of making paper. Black liquor is used by pulp mills as an energy source.
The company says that so far this year it has earned $36.1 million manufacturing private label tissue, paperboard, pulp and lumber.
Associated Press
HELENA – A Montana bank has cut 10 jobs at locations across the state and is reducing operating hours at one branch as cautious consumers borrow less in an uncertain economy, a bank executive said.
Montana West Bank Chief Operating Officer Mike Dalton said the bank is laying off six employees at its Whitefish and Kalispell branches. The bank has already laid off two employees from its Helena branch, one in Great Falls and one in Missoula.
The bank has to reduce expenses because people are not borrowing like in the past, Dalton told Montana Public Radio.