|
Federal Reserve lowers rates again
On Wednesday afternoon, the Federal
Reserve announced a cut to the federal
funds rate by a quarter point to 2
percent. This is the lowest level the
funds have reached since 2004 and the
seventh consecutive rate cut since last
September.
Fed officials acknowledged they will keep a watchful
eye on inflation and will “act as needed
to promote sustainable economic growth
and price stability.”
Though the debate of recession continues between
economists, the government reported the
economy grew by 0.6 percent during the
first quarter. The Fed also made note of
a weakening economy, slow economic
growth, and decreased consumer spending.
“Financial markets remain under considerable stress,
and tight credit conditions and the
deepening housing contractions are
likely to weigh on economic growth over
the next few quarters,” Fed officials
said.
While concerned about inflation, the Fed believes
it will remain moderate over the
coming months. Fed officials did say
they will carefully monitor any new
developments.
Top of Page
Nominations sought for Bend
Chamber/Commute Options Employer
of the Year
The Bend
Chamber and Commute Options
are seeking nominations for the Commute
Options Employer
of the Year Award.
The award is presented in June to a Bend Chamber member
showing exemplary support of and
participation in a wide variety of
transportation options.
This includes employee trip reduction programs,
commuter options incentives, quality
bicycle and carpool parking, encouraging
transit ridership, recognizing the
health benefits, and overall reducing
impact on the road system.
Past recipients of this award include:
Clear Choice Health Plans Inc., Mt.
Bachelor, St. Charles Medical Center,
Central Oregon Community College,
Tennant Developments, Alliance Data
Systems, Bend Memorial Clinic, St.
Charles, The Footzone, Pine Tavern
Restaurant, Brooks Resources, and
Sunriver Resort.
The partnership between the Bend Chamber of Commerce
and Commute Options is in its thirteenth
year.
To nominate your business, please contact Jeff Monson at
330-2647. For more information on
Commute Options go to:
www.commuteoptions.org.
Article was written by Jeff Monson,
Executive Director Commute Options for
Central Oregon
Top of Page
Bend Featured
on World Golf Web site
Bend was recently featured on the World
Golf Web site as a new top golf
destination. The brief article
highlighted a few courses in the area
including the new Tetherow Golf Course
designed by golf course architect David
McLay Kidd.
The course is set to have a soft opening this June with
a grand opening in the fall. World Golf
described Tetherow’s course as “a kind
of hybrid of links.” The article also
touted some of the other amenities Bend
has to offer including microbreweries,
restaurants, and the skiing on Mt.
Bachelor.
World Golf believes 2009 will “be the year of Tetherow
in the Pacific Northwest.”
Top of Page
IRS to help Small
Businesses
In an effort to help new self-employed
small business owners, the IRS has
launched an educational campaign about
federal tax responsibilities. According
to the IRS, one of the biggest
challenges small businesses face is
meeting and understanding tax filing
requirements.
In a recent press release, IRS Commissioner of the
Small Business/Self-Employed operating
division Kathy Petronchak said, “It’s a
new, different and potentially
overwhelming experience for them. We
want new small business owners to know
that the IRS has resources to help them
learn about their federal tax
responsibilities and avoid common
pitfalls.”
The campaign will provide a variety of new materials
including a new Schedule C, Profit or
Loss from Business, workshops, and
updated materials through
www.irs.gov.
Some of the basic tips for business
owners include how to classify workers,
how to start making estimated quarterly
payments, how to deposit federal
employment taxes, and how to pay taxes
electronically.
Currently, one in seven federal income tax returns
includes a Schedule C.
Top of Page
Prices at
pump continue to rise, Clinton
backs gas tax suspension
As summer approaches, drivers
are keeping a close eye on
prices at the pump. While crude
oil prices have fluctuated in
recent days, gas prices have
continued to steadily hit new
daily highs. The current
national average is $3.623 for
regular unleaded and $4.251 for
diesel.
Oregon drivers have continued to see the numbers
increase at local gas stations.
According to AAA, Oregon’s
current average is $3.678 for
regular unleaded, which is up
almost $0.39 from last year.
Diesel in Oregon has continued
its climb as well topping out at
$4.365 on Thursday. This is an
increase of $1.408 from last
year at this time.
Democratic presidential candidate Hilary Clinton and
Republican presidential nominee
John McCain agree on the
suspension of the federal tax on
gasoline. Both feel this would
give drivers relief from high
gas prices this summer. Clinton
also stated she would suspend
the tax on diesel this summer as
well.
Many critics have pointed out the suspension of the
federal gas tax would take away
vital funds from the U.S.
Highway system. Clinton has said
she would impose a windfall
profits tax on oil companies to
recoup any lost funds. McCain
has no such plan.
Democratic presidential candidate Barack Obama says the
repeal is a bad idea and any
savings at the pump would be
short lived for consumers.
Clinton has defended her stance
saying even the smallest
decrease would have a big
benefit. In a recent campaign
statement, Clinton said,
“Suspending the gas tax will
provide real, immediate
assistance to American families
and for our economy.”
McCain echoed the same thought saying the repeal would
provide “an immediate economic
stimulus.”
Some economists have stated the price of gasoline would
continue to rise even after of
the suspension of the gas tax
because of supply and demand.
At this point, consumers will continue to watch prices
at the local pump as they make
summer vacation plans.
To get the latest fuel
prices visit AAA’s Daily Fuel
Gauge at
www.fuelgaugereport.com
Top of Page
Upcoming
Chamber
events
May 9: Entrepreneurial Council’s Peer
Feedback Workshop-
The Peer Feedback Workshop will help to
equip you with effective tools and ideas
to implement into your business
practices.
This month Michele M. Freeman from Sunriver
Realty and Kerry Liliedahl - Little
Ones, Inc.,
will
present their business models. If you
are new to the Chamber, new to small
business, or are looking for some new
ideas, please come and join us. It’s a
great place to network with your peers.
No preparation or materials are
necessary to attend this workshop. You
are even welcome to contribute ideas for
others. The Entrepreneurial Council Peer
Feedback Workshop takes place at Central
Oregon Home Health and Hospice.
Breakfast is sponsored by Jones & Roth,
CPAs. The workshop begins at 8:00 a.m.
with presentations starting at 8:10 a.m.
Are you interested? Call the Bend Chamber
today at 382-3221.
May 13:
Small Business Marketing: Yes, You
Can Get Noticed in A Cluttered World On
A Small Budget! - As a small
business owner maybe you’ve asked
yourself the following questions: What
do I say to the media or promotional
product salesperson that has a great
deal for me? Are there partnerships or
co-operative business opportunities
available? How do I know what
differentiates my business from my
competition? Networking is uncomfortable
for me – how can I self-advertise? Get
ideas on these questions and more from a
panel of experts at the next
Professional Development Series
presentation. RSVP by noon on Monday,
May 12 online at
www.bendchamber.org or
call 382-3221.
Title Sponsor
June 23: Bend Chamber’s 2nd
Annual Team Challenge Golf Tournament-
Get your business known as a leader in
this competitive Team Challenge Golf
Tournament. Just one member of your team
needs to be an employee. Teams cost $600
per foursome. Sign up today at
www.bendchamber.org/teamgolf.
If you are interested in a sponsorship
or donation, contact Gayle at 382-3221
or by email at
gayle@bendchamber.org.
Top of Page
|
