Since it opened, Kitsap Mall’s retailers have hosted a
trick-or-treat event for kids, and it’s since become a family
Until this year.
Instead, the Children’s Reading Foundation of Kitsap-Olympic
Peninsulas has partnered with the mall to offer a children’s
reading event from 10 a.m. to 4 p.m. Saturday in center court
featuring public officials and others reading. There are free books
for the first 1,000 children. Will you miss what’s become a family
tradition, or are you excited about the prospect of something
Give me a call at 475-3783. Only those willing to be quoted by
I’ll be there
A pending foreclosure sale of the Comfort Inn, Bremerton’s
largest hotel, was postponed again this morning at the Kitsap
Often when sales are postponed, it’s an indication negotiations
are under way between the borrower and the bank to avoid the
foreclosure path, but I have no indication at present if that is or
is not the case here. The Comfort Inn foreclosure now is scheduled
for Dec. 3.
Also, the Zone, the sports complex in Poulsbo, apparently has
reached agreement with the bank to avoid foreclosure, according to
an announcement at the courthouse. Look for my story soon.
Rachel Pritchett, 475-3783
Dow at 11,123, up nine points this morning.
NEW YORK (AP) — Stock wavered Friday after a report on economic
growth did little to reassure investors about the health of the
The Dow Jones industrial average fell about 20 points in midday
Gross domestic product, the broadest measure of the nation’s
economy, grew at a 2 percent annual pace in the third quarter. That
was in line with economists’ expectations and only slightly better
than the 1.7 percent growth rate during the second quarter.
Signs of meager growth come as investors grow more cautious heading
into next week’s midterm elections and are uncertain about the size
of economic stimulus measures the Federal Reserve is expected to
announce next week.
Normally such slow GDP growth would have driven stocks much lower.
But signs of weak economic expansion provide further support for
the Fed’s anticipated stimulus plan.
“Because GDP was so lackluster, we don’t see the Fed pumping the
brakes” on its plan, said Tony Zabiegala, a partner at Strategic
Stocks rose sharply during the first half of October as
expectations mounted that the Fed would start buying Treasury bonds
to drive interest rates lower. That, in turn, is supposed to spark
spending and lending. In recent days, however, the size of the
bond-buying program has been questioned, putting a market rally on
John Apruzzese, a partner and portfolio manager at Evercore Wealth
Management, said reaction in anticipation in the program is typical
of the market.
Dow now at 11,056, a fall of 112 points.
NEW YORK (AP) — Stocks slid Wednesday as concerns grew over
whether the Federal Reserve’s plans to buy Treasury bonds might be
smaller and slower than anticipated.
Another day of mixed earnings and economic reports also dragged
down stocks. The Dow Jones industrial average fell nearly 130
points in afternoon trading.
Traders were disappointed with earnings at Sprint Nextel Corp. and
ConocoPhillips. Procter & Gamble Co. was one of the few
companies shares to rise after it beat forecasts.
Stocks had been rising in recent weeks because of some mostly
upbeat earnings and mounting expectations that the Fed would embark
on another round of bond-buying to stimulate the economy.
Traders have been anticipating the Fed would buy between $500
billion and $1 trillion in Treasurys to drive interest rates lower
and encourage lending and spending. A report in The Wall Street
Journal said the Fed’s bond purchases might amount to a few hundred
billion dollars over several months, which would fall short of
Dow now at 10,275, down 108 points.
NEW YORK (AP) — Stocks have reversed course and given up their
big gains in afternoon trading Thursday.
A strengthening dollar and profit-taking have helped drag stocks
from the lofty levels they reached earlier in the day. The Dow
Jones industrial average fell 38 points in afternoon trading. It
had been up as much as 105 points in morning trading after index
components Caterpillar Inc., Travelers Cos. and McDonald’s Corp.
all beat earnings expectations and AT&T Inc. matched
Once again Bank of America Corp. hurt the Dow as it continues to be
dogged by worries about whether investors will force the bank to
buy back mortgages it originated.
Airlines stock lead the charge, Dow at 11,142, up 163 and
NEW YORK (AP) — The stock market is rebounding a day after a
big-sell off brought on by concerns over a slowdown in China.
Stocks rose in midday trading Wednesday, regaining much of the
ground lost the day before, as traders saw overnight gains in China
as an encouraging sign that the country’s surprise interest rate
hike will not dampen the global economy.
A batch of mainly positive corporate earnings reports from
companies like Delta Air Lines Inc. and Boeing Co. also helped send
the stock market broadly higher in late morning trading.
The Shanghai Composite Index, China’s main stock market benchmark,
rose 0.2 percent in overnight trading. Those gains “helped create a
more constructive tone for the trade this morning,” said Nick
Kalivas, an equity analyst for MF Global.
The Dow Jones industrial average rose 155.0, or 1.4 percent, to
11,133.62. The broader Standard and Poor’s 500 index was up 15.5,
or 1.3 percent, to 1,181.43, and the technology-focused Nasdaq
composite index was up 29.8, or 1.2 percent, to 2,466.83.
The Port of Bremerton will hold three community meetings this
fall to better acquaint itself with the public.
The first will be Oct. 27 in the chapel room of the Port Orchard
Pavilion, 701 Bay St. in Port Orchard.
The next will be Nov. 1 in the dining room of the Seabeck
Conference Center, 15395 Seabeck Highway NW, Seabeck.
The third and final community meeting will be in the lounge at the
Sheridan Park Community Center, 680 Lebo Blvd, Bremerton.
All are at 5:30 p.m., and the meetings have been arranged so that
there is one in each of the three commissioner districts.
The meetings were started to build trust with the public, damaged
after the port built the Bremerton Marina using new tax proceeds
few residents knew about. The marina opened in 2008.
Have they risen sharply or stayed the same? What impact is this
having on you? Gary Anderson of Kitsap Commercial Group says you’re
not a happy bunch right now.
Rachel Pritchett, reporter
Dow at 11,096, up 75 points, so far.
NEW YORK (AP) — Stocks dipped Thursday after concerns about
another disappointing report on jobs and traders worried about
foreclosure practices at banks. But losses were held in check by
expectations the Federal Reserve will act soon to strengthen the
Financial shares were the major drag on the market as concerns grew
about the steps banks took to foreclose on defaulted mortgages.
Shares of big banks like JPMorgan Chase & Co. and Bank of
America Corp. dropped as they have suspended foreclosing on homes
to review their practices.
The Dow Jones industrial average fell nearly 30 points in afternoon
trading. In recent months, the disappointing jobs report would have
likely led to a bigger sell-off in stocks. However losses following
weak economic reports have been limited recently because such
disappointment supports predictions the Fed will step in to support
“Good news is good news and bad news is good news,” said Sarah
Hunt, a research analyst at Alpine Mutual Funds. The Fed’s next
meeting ends Nov. 3 and it is widely expected an announcement on
actions to stimulate the economy will be announced then.
Traders sent the dollar lower and gold higher Thursday because of
the likely Fed move. The Fed is expected to buy government bonds,
which would drive down interest rates down from already low levels.
That makes gold and other currencies where interest rates are
higher more attractive than the dollar.
Gold hit another record high, while the dollar fell to a 15-year
low against the yen and touched its lowest level against the euro
“People are pretty focused on what the Fed is going to do,” said
Russell Croft, portfolio manager of the Croft Value Fund. Fed
chairman Ben Bernanke is scheduled to give a speech Friday that
could provide more details about how much money the central bank
might pump into the economy.
NEW YORK (AP) — Surging prices for metals, oil and other
commodities lifted stock prices on Wednesday, especially industrial
and materials companies.
Strong corporate earnings reports from JPMorgan Chase & Co.,
Intel Corp. and railroad operator CSX Corp. also gave investors
more reasons to be assured about the economy.
Gold touched another record and oil rose about 2 percent.
Freeport-McMoRan Copper & Gold Inc. and Newmont Mining Corp.
were among the biggest winners.
The Dow Jones industrial average rose more than 120 points in
“In an improving (global) economy, everyone is going to consume
more,” said Christian Wagner, CEO of Longview Capital Management.
“You need the basic materials.”
Wagner said growth should remain strong in emerging markets helping
keep demand high for commodities like aluminum and other
The earnings reports all contained nuggets of hopeful news on the
“They were assuring,” said Andrew Ross, partner at First New York
Securities. “But they weren’t inspiring, or disrupting.”
Those results allowed the market to continue the upward trajectory
it has taken in recent weeks, Ross said. The Dow is up 3.3 percent
in October and has jumped more than 11 percent since the beginning