The Toledo Elks Veterans Program was given a grant by Elks National Foundation last year for an ocean fishing trip for Veterans (disabled will be given preference) in our area. The fishing/crabbing trip will be on Saturday, June 28th at 7:30 AM on the Kadaho out of Depoe Bay. This is a 5-hour trip. We will provide lunch after the fishing trip. If you are a Veteran or know one (the % of disablility doesn’t matter) and want to sign up please contact Trisha Daniel. We can accommodate up to 4 wheelchairs (helpers are welcome if needed) and can take up to 20 people with that many wheelchairs aboard.
Please contact Trisha Daniel at 541.961.0428 (cell) or 541.444.8295 (work) to sign up.Share on Facebook
Merkley Calls on Federal Reserve to Close Loophole that Allows Big Banks to Own and Manipulate prices for oil, food and aluminum
Loophole has raised prices for consumers and threatens financial stability
WASHINGTON – Oregon’s Senator Jeff Merkley is calling on the Federal Reserve to close a loophole that allows big banks to own and control physical commodities, such as oil, aluminum, and electricity which pushes up prices for consumers and threatening the stability of the financial system.
The Federal Reserve, which regulates banks, has been taking public comments on how to regulate banks’ ownership of commodities, after numerous news reports in recent years indicated that consumers may be paying the price as banks buy up tankers full of oil, warehouses full of aluminum and banks buying up electrical production, all aimed at manipulating the prices consumers pay for basic necessities.
Since most large banks trade on the price of the commodities, there is a strong potential for conflict of interest when they also control supply and demand. In effect, banks could bet on the price of a commodity going up, while at the same time limiting its supply to raise the prices.
“I appreciate the opportunity to comment on whether our largest, most complex bank holding companies […] ought to be able to own, control, transport, or trade in physical commodities like oil, electricity, and metals. The answer, I believe, is simply ‘No,'” Merkley wrote in his comment letter.
Merkley noted that banks’ ownership of physical commodities could have outsized risks for the financial system, since bank ownership of a commodity that experienced a major disaster—such as the nuclear plant at Fukushima or the BP Gulf Coast oil well in 2010—could jeopardize that bank’s place in the financial system.
Merkley also drew attention to the real costs that manipulation of these markets can have for consumers, noting:
“In recent years, we have learned that:
• Speculation in the oil market by banks and financial investors has been responsible for as much as $14 for every tank of gas purchased by American drivers.
• Banks have manipulated electricity markets, costing ratepayers millions of dollars in higher utility bills.
• The copper market is at risk of being dominated by a bank-sponsored investment fund.
• Even the price of bread and rice – staple foods for American families and hungry children around the world – is being driven up by financial speculation in grain commodities.
• Banks, hedge funds, and financial investors, in part due to deeply flawed exchange rules, have driven up the cost of aluminum, costing brewers and beer drinkers a combined $3 billion.
Merkley has long been a champion for a financial system that asks large banks to serve the needs of consumers and small businesses, not the other way around. Last summer, he drew attention to this issue at an event at Hopworks Brewery in Portland, highlighting the cost of big banks’ involvement in the aluminum market for small brewers and consumers.Share on Facebook
Tuesday, June 10th – Lincoln County
Summary: Smalltalk yesterday most likely included the phrase, “Man, this wind is gettin’ to be annoying.” As predicted, the stiff north-northwest breeze lasted all day, spinning anemometers steadily at 15-20 mph with gusts in the 30s. The peak puff in the area was 40 mph on the Yaquina Bay Bridge. Skies remained clear and the mercury topped out around 60F. The strongest winds finally faded after sunset, but continued at 10-15 mph most of the night; low temps were in the upper 40s. At first light, there was blue sky, marine clouds offshore and a hint of a northerly breeze.
Past 24 Hours High/Low/Wind Gust…
Lincoln City: 62F/47F/36mph
Depoe Bay: 61F/48F/25mph
Forecast: You still have another day or two of wind annoyance in store as our current weather regime stays in place. Breezy northerlies 15-25 mph gusting to 30 are on the agenda again today, easing tonight but rebuilding tomorrow. High temperatures near 60F and lows of 50F. Outlook is for slowly increasing clouds and still breezy Wednesday night. Thursday and Friday a small weather disturbance is forecast to impact the Central Coast with a chance of showers, projections now say a 30-40% probability of precipitation. Unsettled weather for the weekend with a slight chance of showers, clouds, sunshine, a little warmer and less annoying winds.
Travel: On Highway 101, construction work is underway through the Nelscott District in Lincoln City. Expect minor delays during the day and flagged nighttime closures from 7:00pm to 6:30am. The project will widen 101 with a lane in each direction and a center turn lane. It will also create wider shoulders, new curbs and sidewalks, a new pedestrian crossing, a new signal at 32nd Street, retaining walls and landscaping. In the Coast Range today, mostly sunny and 70-80F. Valley destinations will have sunshine with highs of 75-80F. For the Cascades, partly cloudy skies with the freezing level at 11,000 feet.
Cascades Snow Pack: Currently 48”, a loss of 3” since yesterday.
Marine: The breeze isn’t quite as strong this morning, out of the NNE around 10 knots, but it’s still choppy with 5 foot seas at 6 seconds. Depoe Bay and Yaquina Bay bars are unrestricted. It looks like today and tonight will be marginally better than recent days with northerlies 10-15 knots gusting 20 and combined seas of 4 feet. Tomorrow, even lighter conditions as N winds stay about 10-15 knots and wind waves drop to 2 feet on a 4 foot swell. Outlook is for SW winds Thursday, 5-10 knots gusting 15; swells around 3 feet. For Friday and Saturday, back to NW wind 10-15 knots and a lumpy NW swell of 7-8 feet with 3 foot wind waves.
On the Beach… Mostly sunny, breezy, surf 3-4 feet (low).
For a safe and enjoyable time on the Central Coast, the Oregon Parks & Recreation Department offers these Beach Safety Tips.
06/10 Tue 11:30 AM 6.06 H
06/10 Tue 04:29 PM 2.58 L
06/10 Tue 10:44 PM 8.86 H
06/11 Wed 05:45 AM -1.00 L
In Short: Mainly clear, windy, then increasing clouds with showers.Share on Facebook
After much staff analysis and two meetings of the city’s budget committee, which includes the Lincoln City City Council, the council Monday night approved the town’s budget for the upcoming fiscal year which runs July 1st through June 30th of next year.
Some of the highlights as provided by City Manager David Hawker include higher property taxes coming from the recent annexation of Roads End – at the 85% of “list tax rate” as part of the promised phase-in for that part of town.
The city’s purchase of the Villages at Cascade Head meant a big hit to the city’s general fund but Hawker reminded the council that as properties develop in that area, it will be an added source of property tax revenues once businesses, homes and multi-family developments come up out of the ground thanks to utility expansions in the area, funded of course by urban renewal.
Hawker said Lincoln City’s 30 major revenue funds are sound for the long term, except for the street fund. That category, said Hawker, will need some attention. He also commented that sewer and water rates will likely rise in the coming fiscal year but the amount of the increases will be full discussed in open public hearings in front of the city council later in the in the year. So everyone can have their say and give their opinions.
The new budget includes a new half-time employee to help coordinate Americans with Disabilities Act (ADA) improvements that have been mandated around town. There is also $150,000 in the budget to help pay for those improvements which will make accessibility around town easier for those who are disabled.
Mr. Hawker said there is $250,000 for an elevator replacement, $2.4 million in city water system improvements, $1.6 for wastewater, a million for street upgrades and $175,000 for gravel street and drainage maintenance in the Roads End area.
Mayor Dick Anderson commented that the citizen members of the budget committee won support for $50,000 additional for Regatta Park playground equipment. There was also support for eliminating the city’s $100 occupancy tax for those who own just one long term rental. Mr. Hawker observed that the elimination of that category of taxation will put a $33,000 hole in the city budget but that the hole could be filled by raising the occupancy tax for those who own more than one long term rental, their rate rising from $100 to $110 a year. That rate has not increased since 2002, according to Mr. Hawker. As with any proposed tax or fee increase or decrease, the issue will be discussed during a full public hearing at a later city council meeting before formal action is taken.
Mr. Hawker said the city currently has about $9 million in reserves and contingencies. He also said the city is moving forward with discussions on the construction of a new Lincoln City Police Headquarters – no final design or construction start date yet announced. There are some senior city staffers that who will be retiring shortly and that there are several significant city planning projects in the wings.Share on Facebook
Jack’s owner said he went missing at around 3am this morning. She said she could hear him barking from somewhere across the street but couldn’t find him. They live on Graham Street in Toledo.
Moments ago Patricia contacted us and said Jack has been found. A beautiful way to start a Tuesday!!Share on Facebook
Eight hundred fire fighters and an aerial armada of big air tankers as well as fire engines and hand crews on the ground have dug a line around 25% of the Two Bulls Fire, barely ten miles west of Bend.
“Human caused,” was the announcement late Monday from top fire officials at the scene. And obviously they would like to talk to anyone who may have seen anything suspicious going on in the area of the fire’s origin Friday.
Fire officials didn’t call the fire start deliberate, leaving the door open to the possibility it may have been by accident. Bend locals remember the story of one of the worst fires caused on the high desert side of the Cascades when a guy driving a pickup pulling a chain behind it, bouncing along the pavement of Highway 97, sparking five blazes heading into Bend.
Fire officials say diminishing winds have given firefighters the upper hand on the Two Bulls Fire. And being the only major fire burning in the region, they’ve got a lot of resources to help take it down.
More from the Oregonian. Click here.Share on Facebook
NEWS RELEASE by Lincoln City City Manager David Hawker.
The City of Lincoln City has been advised that local water customers may receive mail solicitations from a company known as “HomeServe”. This company offers a form of water service line insurance coverage for the water line running from the meter to a customer’s home.
The City of Lincoln City is not affiliated with HomeServe and does not recommend or endorse the insurance coverage HomeServe is offering.
The Better Business Bureau has received 303 complaints against HomeServe in the past three years. The Oregon Attorney General’s Office has received 79 complaints against HomeServe since 2011.
Hawker says that water service lines between the city’s system which runs along the street and someone’s house or business, very seldom fails. But when it does, Hawker contends it’s not that expensive to fix.Share on Facebook
The Lincoln City City Council Monday night continued to make it clear that city tourism promotion funds should help groups and organizations whose events bring new visitors as well as repeat visitors to the beaches and special event venues up and down 101. The council, however, seemed to be a little back-and-forth about whether city tourism funds should continue to help support certain special events if they flatten out and stop growing. Councilor Roger Sprague said there are events that plateu through no fault of anyone but still attract big crowds who stay in Lincoln City hotels, VRDs and motels, dine in local restaurants and go shopping.
The council agreed that leveling out is not a deadly sin and that funding would not be automatically removed if an event starts to top out. The council reasoned that as long as it’s a quality event and draws big enough crowds they should remain eligible to apply for city assistance in helping to meet their costs to put it on.
Visitors and Convention Bureau Chief Sandy Pfaff said she supports the change in the idea of how groups are funding for winning special events – “ensure that new events draw tourists to Lincoln City, while preserving long running events that are proven winners.”Share on Facebook
The Lincoln City City Council, acting as the town’s urban renewal agency, approved a bid from Devils Lake Rock Company to put in new sidewalk, curb and curb cuts for driveways on Highway 101 from SE 16th to 19th. The nearly $81,000 project will be on the east side of 101. Easements have been given by the Osborn property owners and the Bonita Plaza property owners to allow a concrete slab to be constructed on site complete with the creation of a new bus stop and a shelter to keep riders out of the weather while waiting for the bus or for their ride once they get off the bus at the stop.
Other urban renewal projects expected to move ahead in the coming fiscal year are aimed at getting The Villages at the north end of town, along with some properties around it fully served by utilities so builders can proceed with building houses and any commercial development that would be appropriate for that area.
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