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	<title><![CDATA[KTVB Business News ]]></title>
	<copyright>Copyright 2009 KTVB-TV</copyright>
	<link>http://www.ktvb.com/news/business</link>
			<description><![CDATA[KTVB.COM - Business News]]></description>	<language>en-us</language>
	<pubDate>Sat, 21 Nov 2009 05:34:41 MST</pubDate>
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			<title><![CDATA[Rain may put pumpkin pie in peril, Nestle says]]></title>
						<link>http://www.ktvb.com/news/business/70525662.html</link>
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			<pubDate>Thu, 19 Nov 2009 11:50:57 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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              <p>PORTLAND, Ore. (AP) &mdash; The holidays may not be so sweet this year.</p>
              <p>Nestle says heavy rain hurt its pumpkin harvest so there may be a shortage of its Libby's pumpkin pie products through the holidays.</p>
              <p>The company is responsible for nearly all the canned pumpkin sold in the U.S.</p>
              <p>It announced this week that it will not pack any more pumpkins this year. So shoppers may see some shortages until next year's harvest.</p>
            
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			<title><![CDATA[Monsanto aims to stop leaks at Idaho mine dump]]></title>
						<link>http://www.ktvb.com/news/business/70664327.html</link>
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			<pubDate>Fri, 20 Nov 2009 17:33:07 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[
          
              <p>BOISE, Idaho (AP) &mdash; Monsanto Co. is installing a water management system at its southeastern Idaho phosphate mine that's leaking selenium and heavy metals into a tributary of the Blackfoot River.</p>
              <p>The company hopes capturing runoff and underground water from the waste rock dump below its South Rasmussen Ridge Mine will remedy leaks that have resulted in Clean Water Act violation notices from the federal Environmental Protection Agency.</p>
              <p>Activist groups have demanded Monsanto remedy problems like South Rasmussen's dump before it gets federal approval for a new mine nearby.</p>
              <p>The St. Louis-based company says this water management system would have been built regardless of its efforts to mine elsewhere in the region.</p>
              <p>Dave Farnsworth, who heads Monsanto's phosphate mining operations in Soda Springs, says &quot;Our engineers have extensively studied this issue, and believe this design will work.&quot;</p>
            
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			<title><![CDATA['New Moon' midnight showings earn record $26.3 mil]]></title>
						<link>http://www.ktvb.com/news/business/New-Moon-midnight-showings-earn-record-263-mil-70648517.html</link>
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			<pubDate>Fri, 20 Nov 2009 14:03:44 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[<p>&nbsp;</p>
<p>NEW YORK&nbsp; &mdash; &quot;The Twilight Saga' New Moon&quot; has set a box-office record for midnight screenings.</p>
<p>Summit Entertainment estimated Friday that it earned $26.3 million after opening early in the morning.</p>
<p>That would topple the previous midnight record, held by &quot;Harry Potter and the Half-Blood Prince.&quot; It earned $22.2 million this year. &quot;The Dark Knight&quot; from 2008 is third with $18.5 million.</p>
<p>&quot;New Moon&quot; is the second installment of the popular &quot;Twilight&quot; series. It opened at midnight in 3,514 theaters with a per-theater average of $7,476.</p>
<p>Paul Dergarabedian is a box-office analyst for Hollywood.com. He says the midnight start &quot;portends an opening weekend that could be one of the biggest of the year.&quot;</p>]]></description>
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			<title><![CDATA[Idaho settles price charges with French drug maker]]></title>
						<link>http://www.ktvb.com/news/business/Idaho-settles-price-charges-with-French-drug-maker-70631302.html</link>
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			<pubDate>Fri, 20 Nov 2009 10:52:32 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[<p>&nbsp;</p>
<p>BOISE -- Idaho's Medicaid Division is getting a nearly $115,000 share from a nationwide settlement with French drug giant Sanofi-Aventis.</p>
<p>Attorney General Lawrence Wasden said Thursday the settlement resolves allegations that the company's Aventis Pharmaceutical unit knowingly misreported the lowest prices for three nasal sprays, Azmacort, Nasacort and Nasacort AQ.</p>
<p>The multistate and federal settlement totals $95.5 million.</p>]]></description>
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			<title><![CDATA[P&G recalls Vicks nasal spray after bacteria found]]></title>
						<link>http://www.ktvb.com/news/business/70529022.html</link>
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			<pubDate>Thu, 19 Nov 2009 14:18:49 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[          
              <p>CINCINNATI (AP) &mdash; The Procter &amp; Gamble Co. is recalling some 120,000 bottles of Vicks Sinex nasal spray after the company found bacteria in some samples during routine testing.</p>
              <p>Spokesman Tom Millikin describes the voluntary recall as a precaution after small amounts of the B. cepacia bacteria were found in the over-the-counter product at the German plant where it's made.</p>
              <p>Millikin says no illnesses have been reported. He says the bacteria could harm people with chronic lung problems or weakened immune systems.</p>
              <p>Three lots of the spray sent to stores in the United States, Germany and the United Kingdom are being recalled.</p>
              <p>The company, which is based in Cincinnati, says it has informed regulatory authorities in the affected countries.</p>
            
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			<title><![CDATA[Mortgage delinquencies hit record-high in 3Q]]></title>
						<link>http://www.ktvb.com/news/business/70462742.html</link>
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			<pubDate>Thu, 19 Nov 2009 10:01:10 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[          
              <p>WASHINGTON (AP) &mdash; An industry group says more than 14 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of September, a record-high for the ninth straight quarter.</p>
              <p>The Mortgage Bankers Association's quarterly report adds to fears that the housing market's recovery could be thwarted by the continuing surge in home loan defaults, especially as the unemployment rate keeps rising. Lost jobs, rather than the shady loans made during the housing boom, are now the main reason homeowners fall into default.</p>
              <p>Fixed-rate loans made to so-called prime borrowers with good credit histories caused nearly 33 percent of new foreclosures in the July-September quarter, compared with 21 percent a year ago.</p>
            
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			<title><![CDATA[FAA computer glitch causes widespread flight delays ]]></title>
						<link>http://www.ktvb.com/news/business/FAA-computer-glitch-causes-widespread-travel-delays--70548677.html</link>
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			<pubDate>Thu, 19 Nov 2009 14:55:50 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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																				<description><![CDATA[<p>ATLANTA &ndash; Air travelers nationwide scrambled to revise their plans Thursday after an FAA computer glitch caused widespread cancellations and delays for the second time in 15 months. The Federal Aviation Administration said the problem, which lasted about four hours, was fixed around 9 a.m., but it was unclear how long flights would be affected.</p>
<p>It started when a single circuit board in a piece of networking equipment at a computer center in Salt Lake City failed around 5 a.m., the FAA said in a statement.</p>
<p>That failure prevented air traffic control computers in different parts of the country from talking to each other. Air traffic controllers were forced to type in complicated flight plans themselves because they could not be transferred automatically from computers in one region of the country to computers in another, slowing down the whole system.</p>
<p>Two large computer centers in Salt Lake City and near Atlanta were affected, as well as 21 regional radar centers around the country.</p>
<p>Delays were particularly bad at Hartsfield-Jackson Atlanta International Airport, the world's busiest. The glitch also exacerbated delays caused by bad weather in the Northeast, with airports in the Chicago, Washington, D.C., and New York metro areas reporting problems.</p>
<p>Some flights were more than two hours behind schedule. Airports around the South also reported delays and cancellations.</p>
<p>U.S. Sen. Charles Schumer, D-New York, said the country's aviation system is &quot;in shambles&quot; and the FAA needs more resources to prevent such problems from continuing.</p>
<p>&quot;If we don't deliver the resources, manpower, and technology the FAA it needs to upgrade the system, these technical glitches that cause cascading delays and chaos across the country are going to become a very regular occurrence,&quot; he said in a statement.</p>
<p>Despite the problems, the public areas of Atlanta's airport seemed no busier than usual. Travelers ate breakfast and lounged in the atrium, where sisters Sharon Walker and Sheila James waited to take their elderly mother, Rosa Washington, to see their other sister in St. Louis. The trio's 9'30 a.m. flight was delayed until 4 p.m. because of the glitch.</p>
<p>&quot;We were going to be there for a four-day weekend, but now it's getting cut short,&quot; James said. &quot;It's just not a good day.&quot;</p>
<p>In the public areas of Newark International Airport, where delays are routine, Thursday seemed like a normal day, though several people paced around the terminal trying to rearrange their plans. Passenger Chris Cozzi said he was moved from one Delta flight to another but was still unsure if it would arrive on time in Atlanta, where he would have just an hour to catch a flight to Europe.</p>
<p>&quot;You have to wonder what's the glitch? Glitch is kind of a general term, it could encompass many, many things,&quot; he said. &quot;So it is a concern, but I tend to be an optimist.&quot;</p>
<p>At Dulles International Airport outside Washington, AirTran canceled Flight 63 to Atlanta and urged passengers to head to nearby Reagan National Airport to catch another flight. Hilda Ruffin of Manassas, a senior citizen who uses a wheelchair, said she lobbied the airline for a free shuttle pass to get to Reagan.</p>
<p>&quot;I really fought for it ... I don't have the money to pay for a cab,&quot; said Ruffin, who was on her way to San Antonio.</p>
<p>Passengers were asked to check the status of their flights online before going to airports.</p>
<p>AirTran canceled at least 22 flights and delayed dozens more. Delta Air Lines was also affected. American Airlines spokesman Tim Smith said several hundred flights would be delayed.</p>
<p>Continental Airlines delays averaged about an hour during the early part of the morning. JetBlue Airways said 25 of its flights at Kennedy International Airport had average delays of 60 minutes and delays at other airports were up to 30 minutes. US Airways flights were no longer being affected by the glitch by midday.</p>
<p>Houston's two airports and Dallas-Fort Worth International Airport reported few delays but said things could get worse, especially for travelers headed east. Los Angeles International Airport initially said delays were likely later in the day, then canceled that warning. Airports in Europe reported no immediate problems.</p>
<p>The glitch slowed flight plans collected by the FAA for traffic nationwide at its centers in Salt Lake City and Hampton, Ga., outside Atlanta.</p>
<p>It was reminiscent of a software malfunction that delayed hundreds of flights around the country in August 2008.</p>
<p>In that episode, the Northeast was hardest hit by the delays because of a glitch at the Hampton facility, which processes flight plans for the eastern half of the U.S.</p>
<p>The FAA said at that time the source of the computer software malfunction was a &quot;packet switch&quot; that &quot;failed due to a database mismatch.&quot;<br />
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			<title><![CDATA[Let go of my Eggo! Kellogg Co. announces waffle shortage]]></title>
						<link>http://www.ktvb.com/news/business/Let-go-of-my-Eggo-Kellogg-Co-predicts-waffle-shortage-70398922.html</link>
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			<pubDate>Wed, 18 Nov 2009 14:19:32 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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																				<description><![CDATA[<p>&nbsp;</p>
<p>ATLANTA -- The Kellogg Co. says the heavy rains that brought&nbsp;floods to parts of metro Atlanta in September contributed to problems that led to a continuing shortage of its Eggo brand frozen waffles.</p>
<p>Michigan-based Kellogg says it temporarily halted production of the waffles in September at the Atlanta plant because of flooding there.</p>
<p>The Atlanta Journal-Constitution reports that Kellogg says the Atlanta facility is back in production, but that equipment at the company's waffle bakery in Rossville, Tenn. requires extensive repairs and improvements and several lines there are out of operation.</p>
<p>Kellogg spokeswoman Kris Charles told the newspaper the company is working to restore Eggo inventories to normal as quickly as possible.</p>]]></description>
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			<title><![CDATA[Gov't rewarding firms checking immigrant status]]></title>
						<link>http://www.ktvb.com/news/business/70483612.html</link>
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			<pubDate>Thu, 19 Nov 2009 11:53:14 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[          
              <p>WASHINGTON (AP) &mdash; The Homeland Security Department says it will give a &quot;seal of approval&quot; to businesses volunteering to use an electronic program to check workers' immigration status.</p>
              <p>Homeland Security Secretary Janet Napolitano says the public should know which companies are following the law. The problem is, the program known as E-Verify is still under development and the law does not require employers to use it. They are required to use a paper system.</p>
              <p>About 169,000 employers use E-Verify. There are about 7 million employers in the U.S. Napolitano made the announcement at an employers meeting about immigration enforcement in Washington.</p>
            
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			<title><![CDATA[New jobless benefit claims unchanged at 505K]]></title>
						<link>http://www.ktvb.com/news/business/70458902.html</link>
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			<pubDate>Thu, 19 Nov 2009 14:19:23 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[          
              <p>WASHINGTON (AP) &mdash; The number of newly laid-off workers seeking unemployment insurance was unchanged last week, while those continuing to claim benefits dipped.</p>
              <p>The Labor Department says first-time claims for jobless benefits were a seasonally adjusted 505,000, the same as the previous week's revised figure and matching analysts' expectations.</p>
              <p>The four-week average, which smooths out volatility, fell for the 11th straight week to 514,000, the lowest level in almost a year.</p>
              <p>Economists closely track initial claims, which are considered a gauge of the pace of layoffs and an indication of companies' willingness to hire new workers.</p>
              <p>The number of people continuing to claim benefits dropped by 39,000 to 5.61 million.</p>
            
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			<title><![CDATA[Leading economic indicators signal slow growth]]></title>
						<link>http://www.ktvb.com/news/business/70462727.html</link>
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			<pubDate>Thu, 19 Nov 2009 14:19:42 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[          
              <p>NEW YORK (AP) &mdash; A private forecast of economic activity over the next six months edged up less than expected in October, signaling slow growth next year.</p>
              <p>The Conference Board says its index of leading economic indicators rose 0.3 percent last month. Economists polled by Thomson Reuters had expected an 0.5 percent gain.</p>
              <p>The index climbed 1 percent in September.</p>
              <p>The Conference Board forecasts economic activity by measuring current jobless aid claims, stock prices, consumer expectations, building permits for private homes, the money supply and other data.</p>
            
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			<title><![CDATA[Another credit card fee is about to fly]]></title>
						<link>http://www.ktvb.com/news/business/Another-credit-card-fee-is-about-to-fly-70376872.html</link>
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			<pubDate>Wed, 18 Nov 2009 10:24:25 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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																				<description><![CDATA[<p>&nbsp;</p>
<p>ATLANTA &mdash; Another fee is coming in the new year for airline and hotel customers &mdash; this time from your credit card company.</p>
<p>The message' Pay your bill on time or forfeit the miles or points you thought you earned for making purchases on your card during that month.</p>
<p>To get the rewards back, it's going to cost you.</p>
<p>American Express Co. is sending notices to customers who hold its cobranded cards with Delta Air Lines, JetBlue, Hilton Hotels and Starwood Hotels, that beginning in January rewards won't be transferred to loyalty accounts with those partners if you are late paying your bill.</p>
<p>You'll be hit with a $29 reinstatement fee if you want the rewards back. That fee is on top of the late-payment fee &mdash; $19 or $38 depending on your balance. A penalty interest rate, currently 27 percent, would be assessed on future balances.</p>
<p>American Express is changing the policy for its cobranded cards to align those cards with its other Amex cards that have carried the same policy for months or years.</p>
<p>The policy doesn't just affect the habitual late payer, it affects everyone, said John Ulzheimer, president of educational services for Credit.com. &quot;I think over the course of time, people miss a payment at least once because of unforeseen circumstances like something getting lost in the mail or a long vacation taking your focus off making your payments,&quot; he said.</p>
<p>Other card issuers, like Citigroup Inc. and JP Morgan Chase &amp; Co., also have cobranded credit cards with airlines and hotels. Citi is paired with American Airlines. Chase is paired with United Airlines and Marriott International Inc.</p>
<p>Citi spokesman Mark Rodgers said points earned on the company's Citi cards that offer rewards through the company's own rewards program may not be available for redemption if a card holder pays late one month, and in some cases a fee for reinstatement may apply. Rodgers said Citi is not considering reinstatement fees for its cobranded cards with American Airlines and Hilton.</p>
<p>JP Morgan Chase spokeswoman Tanya Madison said that if an account is past due for the cobranded United card, a customer will not earn miles until the account is paid. &quot;While we do not go back and confiscate miles, we will stop awarding miles on spend going forward until the account's paid in full,&quot; Madison said.</p>
<p>Consumer advocates aren't surprised by American Express' move considering tough new rules for credit card companies scheduled to go into effect in February. Under the new law, lenders won't be able to increase rates on existing balances unless a person is more than 60 days behind on a payment.</p>
<p>&quot;Essentially if you can't charge one fee, you create a new fee,&quot; Ulzheimer said.</p>
<p>Banks deny that they are increasing rates ahead of the February deadline and blame fee increases on the economic downturn. American Express isn't saying how much revenue it expects to generate from the new reward reinstatement fee for cobranded cards.</p>
<p>American Express spokeswoman Desiree Fish said her company currently transfers Delta SkyMiles to its cardholders' loyalty accounts for eligible purchases even if they are late paying their bill.</p>
<p>She said that in addition to changing the policy for cobranded cards to be in line with its other cards, American Express also wants to &quot;incentivize good behavior, to say you should pay on time, and if you don't there are penalties.&quot;</p>
<p>Delta said in a statement that the changes to American Express' terms and conditions are consistent with changes across the credit card industry and also include new benefits for Delta customers, including the ability to earn unlimited SkyMiles for purchases on the credit card each year.</p>
<p>Here are some steps you can take to avoid the headache of losing your airline or hotel rewards earned on your credit card'</p>
<p>--Always know when your bill is due and make sure you pay it on time. Set up e-mail billing alerts for your card.</p>
<p>--Manage your account online. Schedule electronic payments using your checking account at your bank. Many banks allow free online billpay, and with major credit card companies the payments often post the same day as the payment is scheduled.</p>
<p>--Read the fine print. Don't throw away those legal notices you get from credit card companies. Terms and conditions are being changed all the time. Know the terms, so you can protect your credit and your rewards.</p>]]></description>
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			<title><![CDATA[Sears charges multiply mysteriously]]></title>
						<link>http://www.ktvb.com/news/business/Sears-charges-multiply-mysteriously-70377687.html</link>
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			<pubDate>Wed, 18 Nov 2009 10:32:24 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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																				<description><![CDATA[<p>SEATTLE - Nate Wight's summer came to a quick end when he broke his foot on a river rafting trip.</p>
<p>&quot;It's bad. I didn't think it was a bad as it was,&quot; he said.</p>
<p>Four screws later, Nate's got one more put in him by Sears.</p>
<p>&quot;They're charging me over and over. Every day I check my account there's another charge on there,&quot; he said.</p>
<p>The doctor ordered Nate to exercise. So he bought a heart rate monitor on Sears.com to help with his stationary bike sessions.</p>
<p>$43.64 later he had one monitor, but Sears had charged him eight times.</p>
<p>Jesse Jones' &quot;What annoys you more - your foot or Sears?&quot;</p>
<p>Nate Wight' &quot;Sears for sure, man, they're killing me!&quot;</p>
<p>Check this out' Nate bought the heart-rate monitor on Halloween, priced at $43.64. But over the next two days, Sears hit his account again. There were no charges for a couple days. Then they started again.</p>
<p>That's when Nate called Sears customer service. Sears told him they'd put the money back.</p>
<p>He got three of the credits back, but over the next three days Sears took that money back.</p>
<p>Jesse Jones' &quot;After they helped you, you kept getting charged?&quot;</p>
<p>Nate Wight' &quot;After they admitted in their words 'We dropped the ball all over the place on this one, we'll give you credit as soon as we can, get this to stop' - it has not stopped.&quot;</p>
<p>That's when Nate called me, and I called Sears.</p>
<p>They said a &quot;system issue&quot; caused the duplicate charges to not only Nate's debit card, but to other customers.</p>
<p>How many? They won't say. They promised to stop charging Nate and give him his money back.</p>
<p>&quot;I kept getting charges, so at this point I can't wait another 10 days, I'm not going to have any money left in my account,&quot; said Nate.</p>
<p>All the money has now been returned and Sears says they are sorry about this. In an effort to make it up to Nate, they're sending him a gift card.</p>
<p>If this happens to you, print out your bank statements and contact the merchant and your bank. Then give me a call.</p>]]></description>
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			<title><![CDATA[Idaho exports on the rise]]></title>
						<link>http://www.ktvb.com/news/business/Idaho-exports-on-the-rise-70416262.html</link>
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			<pubDate>Wed, 18 Nov 2009 17:38:44 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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																				<description><![CDATA[<p>&nbsp;</p>
<p>BOISE&nbsp;- This week, the Department of Commerce released Idaho's 3rd quarter export sales.&nbsp; It's not as good as last year, but it's a lot better than last quarter!</p>
<p>Computer circuitry, paper and dairy products are&nbsp;just some of Idaho's top sellers when it comes to overseas customers.</p>
<p>The vast majority of Idaho imports are shipped to Asia; Taiwan tops the list in the third quarter with nearly $260 million worth of Idaho goods, followed by Canada and China.</p>
<p>Last year, Idaho exports reached an all-time high.</p>
<p>&quot;We had over $5 billion of exports which was a pleasant surprise for us given the economy, domestically, had started to turn down in 2008 and yet we still finished the year with a record year,&quot; said Damien Bard, International Business Division of Idaho Dept. of Commerce.</p>
<p>This year, it's been a different story and Idaho is still significantly lagging in its year-to-date results.&nbsp; But the third quarter, which just ended, is showing some promise.&nbsp; A nearly 25 percent&nbsp;increase in exports from the quarter before.&nbsp; Nationally exports rose just 5 percent.</p>
<p>&quot;What that says to us is that's a more rapid increase than we've typically seen quarter to quarter, so we have reason to be cautiously optimistic that things might be turning around in the export sector,&quot; said Bard.</p>
<p>&quot;As far as international sales, we are experiencing about 25 percent&nbsp;quarter over quarter growth,&quot; said Amy Childress, PakSense Marketing Director.</p>
<p>Falling right in line with those statewide numbers is PakSense, a Boise company that makes a food safety monitoring label. It's used for tracking time and temperature of perishables as they travel nationally and internationally.&nbsp;</p>
<p>&quot;The return on investment is high.&nbsp; It becomes a no-brainer situation to put one of these labels on there,&quot; said Childress.</p>
<p>And that's what more and more international companies are doing.&nbsp; PakSense is on track for another double-digit increase for the 4th quarter.</p>
<p>Bard attributes the statewide jump to a weaker U.S. dollar and a stronger international demand.</p>
<p>&quot;[It's] something we always try to preach to Idaho companies that, to hedge against domestic downturn in the economy, look to international markets because that can help you even out those downturns in the economy,&quot; he said.</p>
<p>Last quarter, from July to September, Idaho exported more than $1 billion worth of products&nbsp;to 112 countries.</p>]]></description>
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			<title><![CDATA[Unemployment in Idaho reaches 9 percent ]]></title>
						<link>http://www.ktvb.com/news/business/Unemployment-in-Idaho-reaches-9-percent--70416252.html</link>
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			<pubDate>Wed, 18 Nov 2009 17:28:44 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[<p>&nbsp;</p>
<p>BOISE --&nbsp;The unemployment rate hit 9 percent in Idaho for the first time since the aftermath of the&nbsp;recessions in the early 1980s.</p>
<p>The U.S. Department of Labor on Wednesday revised Idaho&rsquo;s October rate upward by a tenth of a percentage point from the forecast rate on Nov. 6. Based on additional statistical information, the government found that not only did the 1,000 new entrants into the labor force fail to find work but over 600 who had jobs in September did not work in October.</p>
<p>That drove the number of workers without jobs in October to a record 67,800 as total employment dropped below 686,000 for the first time since February 2005.</p>
<p>The last time Idaho&rsquo;s unemployment rate was 9 percent was in June 1983.</p>
<p>The rapid and severe impact on Idaho of the recession that began in December 2007 pushed payment of unemployment insurance benefits to an unprecedented level in 2009. Through mid-November the state paid a record $558 million in state and federal unemployment benefits to over 100,000 claimants. The old record was $247 million in 2008.</p>
<p>That has drained the Idaho Unemployment Insurance Trust Fund and required the state to borrow $75.2 million so far from the federal government to continue state benefit payments. Twenty-three other states and the Virgin Islands have borrowed another $20 billion, and Idaho expects to borrow another $125 million over the next 15 months.</p>
<p>Because of the record benefit demand that has drained the trust fund, the unemployment insurance tax rates for Idaho employers will more than double in 2010 and likely remain at that level for the following two years. State law calculates the rates. That law is also reducing the maximum weekly benefit a jobless worker can receive from $362 this year to $334 next, which translates into a reduction of more than $18 million in benefit payments in 2010.</p>]]></description>
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			<title><![CDATA[AAA: Thanksgiving travel to go up, air travel down]]></title>
						<link>http://www.ktvb.com/news/business/AAA-Thanksgiving-travel-to-go-up-air-travel-down-70392192.html</link>
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			<pubDate>Wed, 18 Nov 2009 13:06:07 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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<p>WASHINGTON&nbsp; &mdash; A leading auto organization is projecting a 1.4 percent increase in Thanksgiving travel this year, although fewer people will travel by air due to budget concerns, reduced airline capacity and added charges.</p>
<p><br />
&nbsp;</p>
<p>AAA said Wednesday it expects 38.4 million Americans will travel 50 miles or more away from home over this year's holiday weekend compared to 37.8 million last year. The number of automobile travelers is expected to be 33.2 million compared to 32.5 million last year &mdash; an increase of 2.1 percent.</p>
<p><br />
&nbsp;</p>
<p>Air travel, however, is projected to decline 6.7 percent, or 2.3 million travelers this year compared to 2.5 million in 2008. AAA said the share of Thanksgiving travelers journeying by air has been declining for a decade.</p>
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			<title><![CDATA[Melaleuca sues Utah company for raiding staff]]></title>
						<link>http://www.ktvb.com/news/business/Melaleuca-sues-Utah-company-for-raiding-staff-70394547.html</link>
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			<pubDate>Wed, 18 Nov 2009 13:32:45 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[<p>&nbsp;</p>
<p>BOISE -- Idaho health care and home products company Melaleuca Inc. is accusing a Utah company of raiding some of its top sales staff, infringing on company trade secrets and competing unfairly.</p>
<p>Melaleuca filed a lawsuit in federal court Monday against Max International and its top sales executive.</p>
<p>The lawsuit seeks more than $10 million in damages and asks a judge to prohibit Max International from hosting a meeting scheduled Saturday and described by Melaleuca lawyers as another attempt to raid top sales talent.</p>
<p>Max International is a health care products company based in Salt Lake City. Messages left for Max legal counsel were not immediately returned to the Associated Press Wednesday.</p>
<p>The lawsuit accuses Max of luring Melaleuca sales staff with lucrative payments and violating noncompete agreements signed with Melaleuca.</p>]]></description>
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			<title><![CDATA[Weak home building a drag on economic recovery]]></title>
						<link>http://www.ktvb.com/news/business/Weak-home-building-a-drag-on-economic-recovery-70376297.html</link>
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			<pubDate>Wed, 18 Nov 2009 10:19:18 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[<p><br />
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<p>WASHINGTON &mdash; The budding economic recovery is getting little help from the home building industry, which normally creates jobs and boosts growth as a recession ends.</p>
<p><br />
&nbsp;</p>
<p>Construction of homes unexpectedly plunged last month to its lowest point since April, the Commerce Department said Wednesday. The weak figures show that builders still lack confidence that buyers can soak up the glut of unsold homes already on the market &mdash; a supply magnified by a record number of home foreclosures.</p>
<p><br />
&nbsp;</p>
<p>The figures also illustrate how much the fledgling recovery depends on government support. Builders broke ground on fewer homes in part because of uncertainty in October about whether Congress would extend a tax credit for homebuyers. Earlier this month, lawmakers renewed the credit and extended it to more buyers.</p>
<p><br />
&nbsp;</p>
<p>Even with government aid, the weakness of the housing sector is dragging on the recovery.</p>
<p><br />
&nbsp;</p>
<p>&quot;It will take a while before residential construction begins to contribute meaningfully to growth,&quot; Jennifer Lee, an economist at BMO Capital Markets, wrote in a research note.</p>
<p><br />
&nbsp;</p>
<p>The sluggish recovery is also holding down inflation. While consumer prices edged up faster than expected in October, they remain lower than they were a year ago. And inflation is expected to remain subdued.</p>
<p><br />
&nbsp;</p>
<p>The Labor Department said consumer prices rose 0.3 percent in October, a bit more than the 0.2 percent economists had expected. Core inflation, which excludes energy and food, rose 0.2 percent, compared with analysts' expectation for a 0.1 percent rise.</p>
<p><br />
&nbsp;</p>
<p>The higher figure was driven by another increase in energy prices and the biggest jump in new car prices in 28 years. The price of used cars and trucks also rose by the most since September 1980.</p>
<p><br />
&nbsp;</p>
<p>Analysts said the jump in used car prices partially reflected the government's &quot;Cash for Clunkers&quot; rebate program, which has reduced the stockpile of used vehicles since cars which qualified for that program were junked and therefore not available for resale.</p>
<p><br />
&nbsp;</p>
<p>The advance in both new and used car prices accounted for 90 percent of the increase in core inflation last month, government analysts said.</p>
<p><br />
&nbsp;</p>
<p>On Wall Street, stocks edged down following the unexpected drop in home construction and disappointing forecasts from technology companies. The modest drop came a day after major stock indicators closed at 13-month highs, including the Dow Jones industrial average, which has risen nine of the past 10 days. The Dow lost about 43 points in midday trading Wednesday, and broader indexes also dipped.</p>
<p><br />
&nbsp;</p>
<p>The report on home construction said building of homes and apartments fell 10.6 percent in October to a seasonally adjusted annual rate of 529,000, from an upwardly revised 592,000 in September. Economists polled by Thomson Reuters had expected a pace of 600,000.</p>
<p><br />
&nbsp;</p>
<p>Applications for building permits, a gauge of future activity, fell 4 percent to an annual rate of 552,000 units. That was the lowest since May and missed analysts' expectations of 580,000. But permits for single-family homes fell only 0.2 percent.</p>
<p><br />
&nbsp;</p>
<p>The National Association of Home Builders said this week that its housing market index remained unchanged in November, reflecting a cautious outlook from residential developers as they waited to learn the credit's fate.</p>
<p><br />
&nbsp;</p>
<p>The trade association said its index stood at 17 for the second straight month. Index readings below 50 indicate negative sentiment about the market.</p>
<p><br />
&nbsp;</p>
<p>Buyers who have owned their current homes for at least five years are now eligible for tax credits of up to $6,500, while first-time homebuyers would still get up to $8,000. To qualify, buyers have to sign a purchase agreement by April 30.</p>
<p><br />
&nbsp;</p>
<p>Yet construction has been weakened as foreclosures have flooded the housing market with bargain-priced properties that sometimes sell for cheaper than builders' costs. The number of homes under construction last month fell 3.4 percent to 560,000, the lowest on records dating to 1970.</p>
<p><br />
&nbsp;</p>
<p>And more than 332,000 households, or one in every 385 U.S. homes, received a foreclosure-related notice in October, according to RealtyTrac Inc.</p>
<p><br />
&nbsp;</p>
<p>Those trends are weighing on the economic rebound.</p>
<p><br />
&nbsp;</p>
<p>In an interview Wednesday, President Barack Obama said he's worried that spending too much money to help revive the economy could undermine a fragile U.S. recovery and cause a double-dip recession. That occurs when the economy begins to recover briefly from a recession only to be dragged back under.</p>
<p><br />
&nbsp;</p>
<p>Obama told Fox News that his administration is weighing tax breaks that could encourage businesses to begin hiring again.</p>
<p><br />
&nbsp;</p>
<p>But he added that if the nation keeps adding to deficit spending through tax cuts or more stimulus spending, people could lose confidence in the U.S. economy, and that could &quot;lead to a double-dip recession.&quot;</p>
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			<title><![CDATA[Mega Millions lottery tickets could soon be sold in Idaho]]></title>
						<link>http://www.ktvb.com/news/business/Mega-Millions-lottery-tickets-could-soon-be-sold-in-Idaho-70306467.html</link>
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			<pubDate>Tue, 17 Nov 2009 15:00:02 MST</pubDate>
			<category><![CDATA[Business]]></category>							



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<p>BOISE -- Idahoans may soon get the chance to play another multi-million dollar jackpot game.&nbsp;</p>
<p>The Idaho State Lottery Commission announced Tuesday that Mega Millions, the nation&rsquo;s other big jackpot, multi-state draw game could start selling tickets in Idaho early as Jan. 31, 2010.</p>
<p>The five-member Lottery Commission unanimously approved offering Mega Millions with Megaplier tickets in Idaho.</p>
<p>Powerball with PowerPlay, Idaho&rsquo;s other big jackpot game, will also continue to be sold in Idaho.</p>
<p>Pending final agreements and approval between the Mega Millions consortium and the Multi-State Lottery Association (the group that operates Powerball), Idaho could begin selling both games by the end of January.</p>
<p>&ldquo;Adding Mega Millions with Megaplier to our product lineup means our players will now have the chance to play for two, &ldquo;always big&rdquo; multi-million jackpots, four times a week,&rdquo; said Idaho Lottery Director Jeff Anderson.</p>
<p>Mega Millions with Megaplier, with Tuesday and Friday night draws, will join the Wednesday and Saturday night draw games of Powerball with PowerPlay, Hot Lotto Sizzler, and Wild Card in the Idaho Lottery line-up. The Idaho Lottery will also continue to offer daily games Idaho Pick3 and Double Play Daily.</p>
<p>&ldquo;This game addition is a win for Idaho,&rdquo; added Anderson.&nbsp; &ldquo;It&rsquo;s a win for our players who enjoy big jackpot games; it&rsquo;s a win for Idaho businesses who offer Lottery products; and it&rsquo;s a win for the Idaho Lottery&rsquo;s primary beneficiaries - public schools and the permanent building fund. Both will realize an increase in dividends from the game.&rdquo;</p>
<p>Idaho is one of 33 U.S. jurisdictions that participates in Powerball.</p>
<p>Mega Millions is the other large, multi-state multi-million dollar game that is currently played in 12 jurisdictions in the U.S.</p>
<p>Tickets cost $1 and players select five white balls from 1 to 56 and one &ldquo;Mega Ball&rdquo; from 1 to 46.&nbsp;</p>
<p>Mega Millions jackpots begin at $12 million and grow until the jackpot is won.</p>
<p>The Idaho version of Mega Millions will feature a &ldquo;Megaplier&rdquo; which will multiply non-jackpot winnings by 2, 3, or 4 times for $1 more per play at the time of purchase.</p>]]></description>
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			<title><![CDATA[Stock market falls as home construction slows]]></title>
						<link>http://www.ktvb.com/news/business/70360432.html</link>
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			<pubDate>Wed, 18 Nov 2009 09:59:41 MST</pubDate>
			<category><![CDATA[Business]]></category>																<description><![CDATA[
          
              <p>NEW YORK (AP) &mdash; Investors are turning cautious as an unexpected drop in home construction and disappointing forecasts from technology companies raise concerns about the economy's recovery.</p>
              <p>The modest drop Wednesday comes a day after stocks closed at 13-month highs.</p>
              <p>The government says construction of homes fell 10.6 percent in October. That's below forecasts.</p>
              <p>Technology shares slid after forecasts from software maker Autodesk Inc. fell short of expectations.</p>
              <p>The Dow Jones industrial average is down 12 at 10,426. The S&amp;P 500 index is down 1 at 1,110. The Nasdaq composite index is down 11 at 2,193.</p>
              <p>Falling stocks outpaced those that rose on the New York Stock Exchange. Volume totaled 1.1 billion shares compared with 972 million Tuesday.</p>
            
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