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LOCAL NEWS
What's Going On In The Northwest
Tuesday, October 7, 2008
     NATIONAL NEWS
     
      WASHINGTON (AP) - The Federal Reserve hopes buying up massive amounts of unsecured, short-term debts called "commercial paper" will help free up more money for lending.   The market for commercial paper is a crucial one, helping businesses pay day-to-day expenses.  
     
      NEW YORK (AP) - Futures trading suggests the Dow Jones industrials could open in positive territory today after a breathtaking plunge took the Dow down 800 points before a big rally.   Stocks in Europe opened lower while many Asian markets, except for Japan, were up.  
     
      WASHINGTON (AP) - The House Oversight and Government Reform Committee is taking a deeper interest into the financial crisis.   One hearing will look at the impact the market's slump has had on personal retirement accounts.   At another, three former AIG executives will testify about that company's bailout.  
     
      WASHINGTON (AP) - The town hall meeting is John McCain's favorite style of campaigning.   Tonight, he hopes it serves him well in the second of three presidential debates with Barack Obama.   NBC's Tom Brokaw will moderate the debate from Belmont University in Nashville.  
     
      WASHINGTON (AP) - Alaska Senator Ted Stevens' corruption trial continues with the prosecution's star witness back on the stand.   Bill Allen has already pleaded guilty to bribing state lawmakers.   He's testifying against his former friend in exchange for immunity for his family.  
     
      STOCKHOLM, Sweden (AP) - Two Japanese citizens are splitting the 2008 Nobel Prize in physics with a Japanese-born American for discoveries in the world of subatomic physics.   The academy says their work has provided "a deeper understanding of what happens far inside the tiniest building blocks of matter.  "
     
     
     
      REGIONAL NEWS
     
      SEATTLE (AP) - The Weather Service says the snow level in the Olympics and Cascades has dropped to 4,000 feet.   Local accumulations of 6 inches of snow are likely today in the North Cascades.   That means snow for drivers on the Mount Baker Highway and North Cascades Highway.  
     
      SPOKANE VALLEY, Wash.   (AP) - Classes resume today at University High School in Spokane Valley.   Authorities say a 15-year-old student responsible for a threat that shut down the school yesterday has been arrested.   The boy told officers the threat was intended as a prank.  
     
      OLYMPIA, Wash.   (AP) - Two former state Supreme Court justices who support Gov.   Chris Gregoire are suing the conservative Building Industry Association of Washington over alleged campaign finance violations.   The justices say they also plan legal action against Dino Rossi, Gregoire's Republican opponent in November's election.  
     
      SILVERTON, Ore.   (AP) - With Oregon's unemployment rate rising, Governor Kulongoski says he will ask the Legislature to pass a large transportation package to create thousands of good-paying jobs.   But Republican state Senator Ted Ferrioli is leery about funding such a major program.   He says Oregon families can't borrow and spend their way through this recession, and neither should state government.  
     
      MOSCOW, Idaho (AP) - Some faculty and staff at the University of Idaho are pushing for a bigger salary for the next president.   The UI is trying to find a successor to Tim White, who left earlier this year for a California university.   Some employees say the $270,000 salary is not enough to attract a leader willing to commit for the long term.  
     
      PULLMAN, Wash.   (AP) - Washington State University has a new wine czar.   Thomas Henick-Kling is the new director of the university's viticulture and enology program.   He is currently the director of the National Wine and Grape Industry Centre at Charles Sturt University in Australia.  
     
      Weather Forecast: Chance of rain.   High near 65.   Spokane near 57.   The Weather Service has a wind advisory until 8 tonight for parts of Washington, including Wenatchee, Ellensburg, Moses Lake, Tri-Cities, Walla Walla, Spokane and Pullman.   Forecasters expect 30-40 mph winds as the cold front passes.  

Tuesday, Oct. 7, 2008
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