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Auto News Auto industry is on a hiring spree, see Page B3.

www.bendbulletin.com/business

THE BULLETIN • FRIDAY, JULY 8, 2011

MARKET REPORT

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2,872.66 NASDAQ CLOSE CHANGE +38.64 +1.36%

STOC K S R E P O R T For a complete listing of stocks, including mutual funds, see Pages B4-5

B U S I N E SS IN BRIEF Tech fest to display consumer products Local and national tech companies will show off their home entertainment, security, cable system and other gear Saturday at the Bend TechnologyFest in The Oxford Hotel. The event, which will be held during the Bend Summer Festival, will be open to the public. Food and drinks will be available, according to a news release, and prize drawings will be held. BendBroadband, Samsung, Marantz and other companies are expected to attend the festival, which is scheduled from 11 a.m. to 6 p.m. at the Oxford, 10 N.W. Minnesota Ave. The event is being produced by Sisters-based Abbajay Automated Control Systems, which designs and installs automated lighting, media and other systems for homes and businesses. More information can be found at http://bendtechfest .eventbrite.com/

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12,719.49 DOW JONES CLOSE CHANGE +93.47 +.74%

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1,353.22 S&P 500 CLOSE CHANGE +14.00 +1.05%

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BONDS

Ten-year CLOSE 3.14 treasury CHANGE +1.62%

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$1530.20 GOLD CLOSE CHANGE +$1.50

By Tim Doran The Bulletin

La Pine homeowner Dan Patton expected this morning to sign documents to allow the state of Oregon to begin paying his mortgage — ending a more than six-month wait for him and his family. “We can … breathe,” he said Thursday. “We actually managed to stretch it out this far and not get into trouble.” If Patton signs his loan papers this morning as scheduled, his mortgage will be among about 3,000 being paid, so far, through a $100 million foreclosure prevention programmed funded by the fed-

Inside

• Beefed-up mortgage assistance for jobless homeowners, Page B5

eral government and administered by the state. Some of the total of 5,000 or so Oregon homeowners who qualified for the Mortgage Payment Assistance Program are still waiting for the state to make their first mortgage payments, but so far the Oregon program has paid more than $6 million

in mortgage payments since mid-April, said Ben Pray, spokesman for the Oregon Homeownership Stabilization Initiative, the state agency created to oversee the program. “We would probably acknowledge that the program has taken longer than anticipated,” he said. Last year, the U.S. Treasury Department awarded $7.6 billion to 18 states and Washington, D.C. — those with high unemployment and hit hardest by the housing market collapse — to help homeowners unable to pay their mortgages. See Mortgage / B5

Corn ethanol subsidies no longer untouchable Mark Marquis, president of Marquis Energy, which operates two ethanol plants in Illinois, says the industry understands that times have changed. A $6 billiona-year tax credit for fuel blenders should go away, he said. Peter Wynn Thompson New York Times News Service

Retail sales increase

Prices from the AAA Fuel Price Finder at www .aaaorid.com. Price per gallon for regular unleaded gasoline and diesel, as posted online Thursday.

GASOLINE Station, address Per gallon • Space Age, 20635 Grandview Drive, Bend. . .$3.76 • Chevron, 61160 U.S. Highway 97, Bend . . . . . . .$3.78 • Chevron, 3405 N. U.S. Highway 97, Bend . . . . . . .$3.82 • Texaco, 2409 Butler Market Road, Bend. . . . . . . . . . . . .$3.84 • Safeway, 80 N.E. Cedar St., Madras . . . . . . . . . . . . . . . .$3.86 • Chevron, 1210 S.W. Highway 97, Madras . . . . .$3.86 • Chevron, 2005 U.S. Highway 97, Redmond . . .$3.86 • Texaco, 539 N.W. Sixth St., Redmond . . . . . . . . . . . . . .$3.88

DIESEL • Texaco, 178 Fourth St., Madras . . . . . . . . . . . . . . . .$4.00 • Chevron, 1210 S.W. Highway 97, Madras . . . . .$4.00 Marla Polenz / The Bulletin

$36.528 SILVER CLOSE CHANGE +$0.617

State mortgage relief program Team will taking longer than anticipated Federally funded initiative currently helping 3,000 homeowners; 2,000 still waiting assume duties of founder

The retail occupancy rate in downtown Bend finished the second quarter at 92 percent, a drop of 1 percentage point from the first quarter, according to a news release from the Downtown Bend Business Association. Seven new businesses have opened or soon will open downtown, and several others have relocated, according to Chuck Arnold, the association’s executive director. The new businesses include a photographic studio and gift shop, a wine shop, a boutique and several eateries. For more information, visit www.downtownbend.org/

Central Oregon fuel prices

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KIRBY NAGELHOUT

Downtown Bend occupancy rate dips

June retail sales blew by analysts’ expectations and suggested that consumers, at least when they were shopping, were feeling good. Despite worries that a drop in consumer confidence and high gas prices would weigh on results, every sector that is tracked by Thomson Reuters, from discount to luxury, on Thursday reported increases at stores open at least a year. — From staff and wire reports

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As industry matures, some are calling for end to federal support By Clifford Krauss New York Times News Service

Federal subsidies for corn ethanol have long been considered untouchable in Washington — not least because politicians want the votes of Iowans, who have traditionally held the first nominating caucuses in the contest for the presidency. But this year, cutting the budget deficit holds more allure than courting corn farmers, marking a turning point in ethanol politics. In Washington, there is growing consensus that the ethanol industry

has reached financial stability, making much government assistance unnecessary. A strong majority of the Senate recently voted to end most of the subsidies. The pressure prompted three influential senators to announce a compromise Thursday that would drastically cut the financial support and end a tariff on foreign ethanol entirely by the end of July. The White House, which has supported a reduction of the subsidies, said it was encouraged by the latest proposal. Three Republican presidential candi-

dates — Tim Pawlenty, Ron Paul and Rick Santorum — are also seeking to eliminate or phase out subsidies for the industry even if that hurts them in Iowa. Jon Huntsman has decided he will not even contest the caucuses, in large part because of his anti-subsidy record. No one is seeking to end the most important government support for ethanol — a federal mandate that gasoline blenders mix increasing amounts of ethanol into gasoline. See Ethanol / B2

By Jordan Novet The Bulletin

With the death Saturday of Kirby Nagelhout, founder of the Kirby Nagelhout Construction Co., Central Oregonians may wonder about the future of a company that was so defined by its leader. But Nagelhout planned for his company’s future without him — even as he battled cancer during the Jeff Deswert, past four to president of five years. Kirby NagelHe chose hout Contwo people to struction run the business in his stead, and they say the Bend company will not be going anywhere — and in fact it will continue to grow. Mike Taylor, “We’re difgeneral manferent indiager of Kirby viduals, but Nagelhout ( Na g e l h o u t) Construction entrusted the company to be run by the people who he trusted while he was here,” said General Manager Mike Taylor, one of the people Nagelhout tapped to run the company. “We’re going to continue pursuing work like he did. So, yeah, the goal is to continue to grow.” The company’s determination to win contracts will be kept intact, as will current employment levels — and Nagelhout’s name will continue to be the company’s name as well. What will change is the role of the company’s leaders, said Jeff Deswert, who replaced Nagelhout as president at the beginning of 2011. Deswert, who worked in Nagelhout’s company in the 1980s and ’90s, was asked last year was asked by Nagelhout to be the company’s new president. Deswert said he prefers to work on the business, as more of a manager, rather than in the business, unlike his predecessor, who gravitated toward complicated bidding and estimating work while also being the company’s public face. See Nagelhout / B5 PAID ADVERTISEMENT

Private sector adds Web providers 157,000 jobs in June, plan penalties far exceeding forecast to slow piracy

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By Greg Robb MarketWatch

By Ben Sisario

WASHINGTON — Private-sector employment rose 157,000 in June, according to Automatic Data Processing Inc.’s employment report released Thursday, in what could be a signal that the recent economic soft patch may not last long. The headline number surprised Wall Street, coming in more than double the 70,000 increase expected by economists. With the report typically considered the first stab at counting job gains each month, markets will be watching the ADP data closely because last month’s report accurately predicted the sharp drop in nonfarm payroll subsequently reported by the government for May. The ADP data indicate job growth in June will be better than the tepid performance in May. Today, the Labor Department will report on June’s nonfarm payrolls, which also include the public sector. Economists polled by MarketWatch are looking for a gain of 115,000 and for the nation’s unemployment rate to remain steady at 9.1 percent. See Jobs / B2

New York Times News Service

Americans who illegally download songs and movies may soon be in for a surprise: They will be warned to stop, and if they don’t, they could find their Internet access slowing to a crawl. After years of negotiations with Hollywood and the music industry, the nation’s top Internet providers have agreed to a systematic approach to identifying customers suspected of digital copyright infringement and then alerting them via e-mail or other means. Under the new process, which was announced Thursday, several warnings would be issued, with progressively harsher consequences if the initial cautions were ignored. The companies took pains to say that the agreement did not oblige Internet providers to shut down a repeat offender’s account, and that the system of alerts was meant to be “educational.” But they noted that carriers would retain their right to cut off any user who violated their terms of service. See Piracy / B2

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Bulletin Daily Paper 07/08/11  

The Bulletin Daily print edition for Friday July 8, 2011

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