Catching up on Idaho business news
Oct 03, 2012 (Menafn - The Idaho Statesman - McClatchy-Tribune Information Services via COMTEX) --Micron reports a 1 billion loss as PC sales remain sluggish
Micron Technology Inc. lost 1 billion in fiscal 2012, its worst performance since 2009.
The company is trimming expenses but has no plans for layoffs or major changes at the Boise campus, said Mark Adams, company president.
Micron's loss in 2012 was smaller than 2009, when the company reported 1.8 billion in red ink. Micron reported profits of 1.8 billion in 2010 and 167 million in 2011. The company has 2.5 billion in cash and short-term investments.
Sagging personal computer sales are an ingredient in Micron's financial performance. Sales of personal computers, which use the company's dynamic random-access memory, aren't expected to grow in 2012.
Treasure Valley new-vehicle sales reached highest level in five years
Treasure Valley auto sales jumped 20 percent in August over August 2011 after several months of flat sales. New vehicle sales surged 32 percent to 1,779, their highest number since June 2008, before the recession crippled the market. Used vehicle sales were up 16 percent to 4,473, their highest number since October 2006.
Reasons for the increase included manufacturer incentives to clear lots for model-year change overs, attractive financing and pent-up demand from people who held onto their vehicles during the economic downturn.
Boise State reworks classes to blend in critical thinking, innovation
Boise State University has redesigned its undergraduate curriculum to make critical thinking, innovation and teamwork a part of student courses. The new direction comes, in part, as businesses say graduates lack essential understanding of teamwork and communication.
Many course instructors devote part of their classroom time to giving students a context for why it is important to know subjects such as history and science, along with dispensing nitty-gritty course information.
Boise-based WinCo opens new store in Mesa, Ariz.
WinCo opened its third store in Arizona last week. The store in Mesa will employ 200 people out of the 10,700 people who applied. The store is 94,000 square feet. WinCo has 86 stores and four distribution centers in Washington, Idaho, Nevada, California, Oregon, Utah and Arizona.
Foreclosure rates decline, settlement payments on their way
The share of mortgages in foreclosure in the Treasure Valley decreased 0.2 percentage points in July from July 2011, says CoreLogic, a national real estate research company.
The Treasure Valley foreclosure rate of 2.42 percent in July was below the U.S. rate of 3.25 percent but above Idaho's statewide 2.33 percent rate. Mortgage loans at least 90 days overdue, including foreclosures, fell by 21 percent in July.
Meanwhile, about 12,200 Idahoans who lost their homes to foreclosure between 2008 and 2011 are eligible for settlement payments under a 25 billion nationwide agreement with Ally/GMAC, Citi, JPMorgan Chase and Wells Fargo. Eligible Idahoans will get packets in the mail with claim forms in the next few weeks. The minimum payment will be 840, and borrowers have to apply by Jan. 18.
Idaho ranks 48th in the nation for personal income growth
Personal income in Idaho rose less than one percent in the second quarter to an annualized 53.6 billion -- a 0.7 percent increase. Idaho lagged behind all states but Wyoming and New Mexico, says the Idaho Department of Labor.
Personal income is the value of all wages, business profits, investment earnings and transfer payments like Social Security, unemployment benefits and pensions.
Wages and salaries in Idaho reached 24 billion, up 0.3 percent but well below the 0.8 percent nationally. Business profits were 6.80 billion, down slightly from 6.81 billion.
The Bureau of Economic Analysis also reset personal income numbers from 2009 to more accurately reflect the recession. This reduced Idaho's personal income by 0.6 percent to 48 billion for 2009; by 1.1 percent to 49.6 billion for 2010; and by 1.3 percent to 52.1 billion for 2011. The downward estimate dropped Idaho's 2011 growth rate from 11th in the U.S. to 26th.
No worry, Wells Fargo customers
A Middle East hacker group disrupted electronic banks operations at several of the countries largest banks last week, including Wells Fargo and U.S. Bank.
Wells Fargo customers in Idaho were not affected, a spokeswoman said.
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