News Digest
Monday, January 28, 2008 5:19 PM PST
OREGON - Rough start to year for Ore. pension fund
SALEM (AP) — Think your 401 (k) has taken a hit this month? The value of the Oregon Public Employees Retirement fund has declined by about $5 billion.
But despite the frightening start to 2008, the state Treasury Department’s investment division, which has 53 percent of the fund parked in stocks, is thinking long term and not trying to time the market.
‘‘Generally we don’t get overly excited or pessimistic when things are going particularly well or particularly poorly over a period of time,’’ said Ron Schmitz, the pension fund’s director of investments. ‘‘A few months like this is no different than when things were rocketing up last year, though that’s more pleasant to talk about.’’
IDAHO
Could Amtrak service through southern Idaho return?
POCATELLO (AP) — The stars may be aligning for a return of the Amtrak Pioneer passenger train to make a comeback in Idaho, politicians and an Amtrak official say.
The Pioneer route between Salt Lake City and Seattle was discontinued in 1997 after losing $20 million the previous year.
Although Amtrak has never returned a discontinued route to service, Don Saunders, Amtrak’s vice president for state and commuter partnerships, said passenger rail expansion is more likely now than it has been during his 20-year career.
Legislation will soon be presented in the U.S. House of Representatives to bring back the Pioneer, U.S. Rep. Mike Simpson, R-Idaho, told the Idaho State Journal.
Idaho ethanol plants plagued by competition, costs, corn
TWIN FALLS (AP) — Idaho-grown corn that is supposed to end up as ethanol in the fuel tanks of cars is instead winding up in the stomachs of cows.
And that is part of the reason why ethanol production in southern Idaho is struggling to get off the ground.
What was once hyped as a regional ethanol boom could be headed for bust, some say. See story Page A2.
The future seemed much brighter just a year ago, when plans for two Cassia County ethanol plants were announced by Renova Energy, a London-based company with offices in Boise, and Pacific Ethanol, a California business.
The facilities would be the state’s first commercial fuel-grade ethanol facilities, and company officials lauded the economic benefits of 70 new jobs.
