Like the Today Show, KGW anchors and reporters will soon have the living backdrop as city pulse beats right outside the windows on Pioneer Courthouse Square. Plus - we'll be there to capture all the excitement of the jammed calendar of events fill one of Portland's favorite spots.

This new kgw.com web section tracks the progress on our expansion as TV gear and sets go in to make Portland TV history.

And viewers now have a hand in contributing to history in the making - got some cool shots of you at the Square?
Tell us your story!

And keep checking back as the studio comes together.

Although billed as a "Town Hall" format, audience members didn't interact with the candidates except to pose their questions. Similarly, questions from the internet were read to the senators.

McCain needled Obama several times about running over his allotted time, which Obama pleased unsuccessfully to moderator Tom Brokaw to have the chance to rebut claims by McCain. Brokaw himself seemed to feel as though he had lost control, joking that he was just the hired help.

Did Obama get too much talking time? Did Brokaw let McCain get the last word too often? Did the so-called Town Hall format produce a more useful discourse than last week's more traditional debate format.

Fill out the "comments" form below and weigh in!

=========================

ten minutes to go and Biden seems to be getting stronger [domestic issues]...

Biden moment when he talked about his own family and life -- very authentic...Palin seems a little pale in comparison, probably should have come back with more personal stuff, not reference to slogan: maverick, greed and corruption, etc.

Biden just took a round house shot at Dick Cheney..."most dangerous..."
wonder if Palin will respond...probably most memorable line of the night

Exchange here by each of them to show how close they are to ordinary folks in ordinary neighborhoods...but "Say it ain't so Joe" -- must have been a line she had for a highly dramatic moment..but seemed to fall flat and I can't believe that won't be a moment repeated in all the clips...

Interesting line of argument -- for Palin to say of McCain "he knows how to win a war"...my guess is we will hear that a lot in the closing month...

A side thought -- it's clear that Palin goes out of her way to use the names of world leaders as a way of creating an impression of knowledge about international affairs...Biden is clearly the more knowledgeable -- but as the debate wears on, he seems to be the stern instructor to get his abundant knowledge across in these areas...

This focus on Israel is important related to international affairs but also resonates in battleground states like Florida

Regardless of the content of Palin's comments about Iran, she is much more comfortable here than in previous interviews...

Charles - I think the question of "respect" will come out more and more over the next couple of days as the analysts look to the non-substantive aspects of the debate

Lawrence and Mary - i just saw your questions -- I don't think the VP debate is hyped...the VP office has changed dramatically over the past two administrations -- what they think about issues is important, even if they never have to take over as President...both Gore and Cheney had important influence over the conduct of American affairs during their administrations...

Windfall profits exchange demonstrates how careful Biden has to be in dealing with Palin -- complimenting her on passing a windfall profits tax but pivoting onto the fact that Mccain doesn't embrace this policy...Palin poking at Biden as East Coast politician who won't let Alaska drill...see if Biden bites at that

Biden scored a strong point in response to the McCain health plan...he appears to have a stronger grasp of this plan and its defects than Palin

Most analysts think Palin will be at her best when she uses Biden's own words against him -- "the paying taxes is patriotic" is a good example of this...

Biden has a solid knowledge of John Mccain's record and this answer is a good example of Biden taking McCain's record apart...Palin's charge of Obama raising taxes pretty well parried by Biden...

And it's clear that Biden is going to go after Mccain and make Palin a side actor

Palin's opening phrases show her plan to connect with "ordinary people" and to push John Mccain to the forefront

I am looking forward to loads of comments tonite, after all we have one candidate who has yet to demonstrate any depth and one candidate who has yet to demonstrate any discipline... so this could be a very entertaining, illuminating debate...

Thank you all for your questions today. We hope our answers have been helpful. See you next time....have a good weekend.

Ember Martin, CFP

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Stephen said:

"I keep hearing that the taxpayer will pay for the bailout of the financial institutions that created this mess. How does that work? Will I receive a bill in the mail. What if I refuse to pay? Will I receive a bailout too?"

What they mean by 'bailout' is that the US government will be footing the bill for much of these 'remedies' for financial institutions such as AIG, Fannie Mae and so on. The government gets its money by collecting taxes from the citizenry (that's you and me) so in effect we are all paying for the 'bailouts' via our taxes. It doesn't take genius to imagine taxes rising in the future due to this, especially if the war efforts continue costing so much.

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Jackie said:
"I have half of my PERS money in the variable account. Should I change it?"

everyone who has any investment accoutns should take this opportunity to review their holdings for diversification at the very least. If you've done any retirement planning then you should know roughly what your expected return should be so you could review the recent markets activity and how its affected your account balances. based on what you find you might want to revisit your planning. In short, do not neglect how you're invested.

----------------------
Cynthia Ignatovich said:
"My elderly parents just returned from WaMu and they told my parents that the news channels were lying, that they are/and will not be bought out. Then would not let them collect their money (talked them out of it). What should we do?"

This is the first I've heard of Wamu resisting withdrawals. They're a good company with good people and hopefully your parent's experience is an isolated case. If your parents wants their money they should return to the bank and demand it post haste.

As for the media rumors about Wamu it is not news that Wamu is up for sale. Most media outlets including the NYT and WSJ have reported this fact. That doesn't mean they're going out of business, however.

----------------
Jody said:
"The company my husband recently left went belly up last month
and our 401K is still with the investment company they used.
We are being told that we can't rollover our account until the
previous employer fills out all the legal papers needed. Is it true that
we have to wait on people who already didn't take care of important matters
and lost their company, to rollover our account? Thanks very much"

Sadly it is true that participants in your husband's retirement plan will have to wait for the plan sponsor (or their attorneys) to address administrative issues relating to the bankruptcy before rollovers can happen. The good news is that your husband had a 401k and not a defined benefit plan, where all his money would have been commingled with the company's and the PBGC would have to get involved.

---------------
Don Hebard said:
"We have invested in gold and silver....we were OK until about two months ago...what is causing the big changes in price....silver is worse..."

Gold and silver are not investments as they have no expected return like stocks and bonds. The commodities prices changes are 100% due to supply and demand, not any inherent fundamental characteristics. The returns are highly speculative and cannot be forecasted with any confidence.

Mike said:
"What will this do for the current real estate market? Will this put a stop to a lot of the short sales taking place? Also what will this do for lending guidelines? "

Most of the Fed's actions are indirectly leading to a better climate for borrowing which is the reason no sales are taking pace these days. Short sales will still go on since they are a function of homeowners not being able to make their payments. That won't change too much since the government can't bail everyone out. Lending guidelines were based on Fannie and Freddie's policies. Since they're being taken over by Uncle Sam we can't yet know what the new guidelines might be.

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Tom said:
"I have a interest-only 3 year arm mortgage that is adjusting November 1st. My payment is increasing by over $400.00 and my house is appraised for about $50,000 less that I owe. How will the Fed actions this week help me, if any?"

The Fed actions have indeed helped the market for home mortgage refinancing a little bit this week. I would check with your lender first to see if they can offer you a new more affordable loan. Also check with a reputable loan broker to check the whole market.

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Bob said:
"I have over 100K in one account in my 401K. I believe it is a money market type fund. Does the FDIC cover that type of fund? If so up to how much?"

The FDIC generally does not cover 401k money. That's the job of the Pension benefit Guaranty Corp.

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Mark said:
"Is now a good time to invest in Washington Mutual"

I would consider any purchase of Wamu or any of these financial stocks highly speculative at this juncture. By speculative I mean you could lose a great deal of your investment or you could make multiples of your investment. Don't do it with money you can't afford to lose.

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Dianna Butler said:
"How does this effect the FDIC? Will those of us with checking and savings in WAMU be okay? "

The FDIC is rumored to be near its capacity of covering bank failures. That said I wouldn't panic because I do think the government will support the FDIC in any scenario. Should Wamu fail getting your money back from the FDIC will take between 10 and 30 days, assuming normal procesing.

JM said:
"I purchased AIG at 2.41. When should I sell?"

Unlike Lehman Bros. stock AIG might recover somewhat. I would wait and see since selling it now wouldn't achieve anything except to lock in your presumed loss. If your position is large you should be aware of the decision to take a tax loss by Dec 31st.

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Kelli Feller said:
"Hi Ember! I have a CD at WaMu for 500,000. It has 5 people tied to it, so I have been assured it is completely FDIC insured. This was told to me by an FDIC employee, also. My question: Would you feel comfortable with this, or would you 'break' the CD and move to a more stable bank?? I do realize I would take a substantial penalty for this. Thanks!"

With a CD of that size your penalty for breaking the CD is probably worth avoiding. If the bank and the FDIC assures you of your total coverage then I would stay put.

---------------
Cathy said:
"What is happening to bonds? What is GOING to happen to bonds as well?"

Cathy, first let's understand that no one knows what's going to happen to bonds or any other part of the market in the future. Many will claim to have insight but believe them at your peril. The question of what IS happening to bonds is easier to know.

The bond markets, like the stock markets are being convulsed, though bonds are suffering less than stocks. The part of the bond market that is made up of bonds build on mortgages is in terrible shape since many, many mortgages are defaulting, causing those bonds to default. Unfortunately many billions of dollars of bonds are backed by such mortgages and were issued and traded by the bank and other institutions were now hearing about defaulting.

---------------
Leonard asks: "Given the current market instability, should I cut back the number of stocks in my retirement plan and add more bonds?"

Reducing one's risk in a retirement account is really a decision driven by how close you are to retirement. If you're within a few years then perhaps you should lower your risk, if only to mitigate what might be even worse news in the future. However, if you have five or more years to go then its really a better idea to stay invested at your regular long term risk levels so your portfolio can recover fully when the recovery finally arrives.

Increasing your bond position is only one way to reduce the risk. You can also move to cash or money market funds.
---------------------------------

Wall Street is soaring...but is it realistic that the Fed can fulfill all these bailout promises?
Aren't they doing it with our money??

Well, yes today the markets are rising strongly on investor confidence that the government's actions will steady the panic. For now it appears to be working though the details are still to be learned.

----------------------

FRIDAY MONEY QUESTIONS

Ember Martin, CFP of Deschutes Investment Advisors answers your questions about the wild week on Wall Street, and what it means to your wallet.

• NW Republican calls Barack Obama a hypocrite
  
  
• Meghan McCain's book becomes a bestseller
  
  
• Barbra Streisand introduces Barack Obama
  
  
• Ralph Nader and the parrot
  

Ember Martin, CFP
Deschutes Investment Advisors
---------------------------------------------------
Raymond said:

Following up on our bank saying that our money
market account is covered by FDIC and you disagreeing, is there a difference between a "daily money market account" and a "money market fund"?

Again, there is a distinction between money market accounts, depending on whether its technically a mutual fund or a deposit account. You should check with your bank for a precise verification of which type you own.
------------------
Anonymous asked "Are retirement accounts insured under FDIC?"

The answer is yes, up to $250,000, provided they meet several criteria. IRAs, Roth IRAs, SEPs, SIMPLEs, Keoghs and some 457 plans all qualify, provide they are 'self-directed' and offer more investment choices than a single deposit account of the custodial institution. Coverdell, HSAs and MSAs, 401ks and 403bs, and Defined Benefit plans are NOT covered. as mentioned earlier the PBGC covers many large retirement plans under ERISA and DOL oversight.

-------------
Tom said:

Is gold still a good investment or has it peaked?

Most investments professional do not consider gold an investment but rather a substitute for cash. There is no inherent return expectation for gold, since like most commodities, its return is based purely on supply and demand. An expectation for return is based upon the wealth creating dynamic of capitalist enterprises on the one hand, or interest on debts, on the other..

--------------
Judy M. asks:

What will happen to my home mortgage loan and my home equity loan with Wamu if they fail?

Depending on the exact nature of any possible action by the regulators, your loan will almost certainly remain in place and your obligation to pay it remains unchanged as well. You may, however, end up paying it to someone other than your original lender.

-------------------------
First, let's start with a couple of clarifications. Several readers have posted questions asking for clarification about the precise coverage afforded by FDIC insurance. Earlier today we posted comments about "money market funds" not being covered. In fact, FDIC insurance does covers 'money market DEPOSIT accounts' but doesn't cover 'money market mutual fund' accounts. Mutual funds are securities while 'deposit' accounts are banking products. Many Wamu personnel have commented that their money market accounts are deposit accounts and not securities, and so are covered by FDIC. To be safe I would ask my banker at Wamu to see the exact definition of the money market account I have.

Another question that came up this afternoon concerned a lesser known provision of FDIC insurance that applies to deposit accounts with beneficiary designations. If your deposit account is titled as a 'transfer on death', for example, then beneficiaries can be named. If these beneficiaries are 'qualifying' then the account could indeed be insured for up to $200k. These rules get pretty complex so its best to refer to the FDIC website at www.fdic.gov/deposits.

-----------

Steven asks: "One of my stocks is WAMU. I have automatic purchase setup monthly. Should I continue to purchase this stock?"

No, Steven, you should stop buying WAMU stock. And try to avoid all other financial company stocks for quite a while. The risk in them is extraordinary and highly speculative and not appropriate for investing at this time. Look into diversified mutual funds with low expenses.

----------
Ken asks: "I have $100k cash and was thinking of buying a CD from WAMU. Is this safe""

Not at this time, Choose another bank such as Wells Fargo or Chase or Citibank or BofA

-------------------
Ron asks: "Are my the investments in my Merrill Lynch accounts safe? They are "Tiger Series Treasure Notes in an IRA"

Ron, your Merrill IRA and its investments are not at risk, irrespective of the BofA deal to buy Merrill. Call your broker and he'll explain it in detail.
--------

• John McCain's interview with Marie Claire.
  
  
• BlueOregon wants to give Bill Sizemore a taste of his own medicine.
  
  
• Oregon Catalyst says Measure 65 will destroy minor parties.
  
  
• The Republican convention gets BarackRolled. (Plus a bonus backgrounder on RickRolling.)

• Josh Marshall gives a shoutout to BlueOregon's Jeff Alworth, who says McCain has played into Obama's hand by admitting the presidential race is about change.
  
  
• At TheNextRight, Rob Bluey muses on the promise and peril of Sarah Palin.
  
  
• Vanity Fair has the authoritative Trig Palin conspiracy theory timeline. The conspiracy is winning the online poll.
  
  
• Oregon Catalyst says the new $1 coin is a waste of taxpayer dollars.

September 4, 2008

by Vance Day

I just returned from the final night of the 2008 Republican National Convention. How many words are there for energized? Enthusiastic. Invigorating. Electrifying. All the synonyms in the world cannot describe the feeling we just experienced.

Tonight, we all gathered in the Xcel Energy Center not for a show, but to nominate a man who has given decades of his life to his country to be President of the United States. What we saw was a leader who is ready for the White House.

We learned so much about John McCain and his family this week. Both John and his wife Cindy are such giving individuals who truly care about their country. "Country First" is not just a campaign slogan - it is how John McCain has lived his life.

As the thousands upon thousands of balloons fell from the ceiling, I took a brief moment to reflect on what John McCain said to the American people tonight. He asked us to fight with him, and that is exactly what I intend to do!

Thursday, September 04, 2008

Phew - yesterday seemed like and physical and emotional whirlwind. My day started early (6:30 AM) after another late night. Picked up Doug Wead: author, speaker, co-founder of Mercy Corps, and former staff member for President Bush the senior. He spoke to our delegation during breakfast. Great insights and stories.

During lunch we had five speakers visit us at our hotel and address just the Oregon Delegation. Another set of great speeches filled with interesting perceptions about this election cycle. I had to be at the Xcel Center early and knew that I would be out late, so I drove to St. Paul. Lessen learned - the delegate shuttle bus is much easier and just as fast.

I don't really mean to make this entry a "travel log", but it gives a bit of context to the initial statement of the day seeming like a whirlwind. Once on the convention floor you could sense the crowd was a bit apprehensive and on an excited edge. It was as if they were eagerly anticipating the arrival of Sarah Palin, and yet scared of the potential mine field which she, and only she, would have to traverse. Expectations were moderate to high, but there was a palpable hope that she would knock the speech out of the park.

Leading up to her introduction we went through a build up of various speakers - all good and all adding context and texture to the message of the McCain/Palin ticket - Country First. I particularly enjoyed former Lt. Governor Michael Steele, Mike Huckabee, Mitt Romney, and Rudy Giuliani. Each articulated a different view of John McCain, but gave the listening a keen sense of who he became through the trauma and pain of being a POW. I felt gripped with an intense sense of gratitude for all that John McCain went through as a prisoner of war.

By the time Sarah Palin took the stage, the convention was prepped and ready. She delivered. By the end of her speech you felt like you could trust this straightforward, no nonsense, basic middle class, small town mom. Yet, she has had amazing experiences of being the CEO of a state, vetoing bills, drafting budgets, appointing judges and administrators, running the whole show up there in Alaska. It was striking how far the media elites had missed the boat in criticizing Governor Palin. She is the real deal, no doubt. She gave her speech with the poise of a professional, yet the sincerity of a loving friend. She hit a home run, batting in two on base, in my opinion.

I loved a few of her great lines:

"In politics, there are some candidates who use change to promote their careers. And then there are those, like John McCain, who use their careers to promote change."

"I guess a small-town mayor is sort of like a 'community organizer,' except that you have actual responsibilities."

"And there is much to like and admire about our opponent. But listening to him speak, it's easy to forget that this is a man who has authored two memoirs but not a single major law or reform - not even in the state senate."

That Sarah Palin has a spark to her!

September 3, 2008

by Vance Day

As I sit here waiting to board the buses from our hotel to head over to the Xcel Center, I can't help but think about the differences of the Convention the last two days.

The first thing that comes to mind is the total explosion of energy last night. Because of the circumstances in the Gulf on Monday, the first night of the convention was void of the traditional National Convention vigor. The dynamics of the evening last night were very different than Monday. Delegates were waving signs and whooping and hollering almost to the point of excess. The entire convention was bursting at the seams with pride.

The second notable difference was the intense appreciation for the speakers. Men and women from all ages and different walks of life all sat on the edge of their seats last night hanging on every word. We heard from a variety of people who knew John McCain - each of them speaking about his service to his country. Fred Thompson took the crowd on a journey through John McCain's experience as a prisoner of war. Too few people know what kind of man John McCain truly is and the type of character he has shown since childhood.

Following up Fred Thompson was - gasp - a Democrat, Joe Lieberman. A Democrat at the Republican National Convention? But it wasn't more than a few moments into his speech that we all knew why he was there. He was there to talk to us about John McCain. Not about policy, not about issues, but about putting country before politics. I bet there were more than a few people in the Xcel Center who never thought they would be cheering on a Democrat at the Republican National Convention.

Tonight? Sarah Palin - take the fight to em!!!

September 2, 2008

by Vance Day for KGW.com

You know you are living in a post September 11th world when the bus that comes to pick you up at your hotel to take you to the Republican National Convention has an armed police officer sitting next to the bus driver. There is so much security in Minneapolis and Saint Paul this week that it took us twice as long to get to the Xcel Energy Center for the National Convention yesterday as it should have. Not because of traffic, but because the police officer was directing the bus driver through a special secure route. A route that took twice as long, I am sure.

But alas, the bus pulled into Saint Paul, through another security perimeter, and to the Xcel Energy Center. It was almost overwhelming to finally be there. There were tents and permanent structures set up all around the Xcel Center for the media. Helicopters flying overhead. Police at every corner. After being poked, wanded, metal detected, and searched, we were finally inside. I was given the special opportunity to take a tour of the Xcel Center last week, but it was so very different being there when it is filled with people.

The Oregon delegation was shown to our position on the floor. Wow! Oregon has VIP seating this year. I spent some time on the floor talking with the media, meeting other delegates, and just enjoying the event. The Convention officially opened - and as promised, it was business only. Sure, there were cheers and everyone was happy to be there, but no fireworks. After a couple of hours of official business, completely out of the blue, the announcer said, "please welcome our First Lady, Laura Bush!" To say the crowd was shocked would be an understatement. Everyone rose to their feet and clapped for what seemed like forever. The First Lady introduced a special video message from the Governors in the Gulf Coast, then came back on stage with Cindy McCain. Again, the shocked crowd stood and clapped for minutes. The two ladies brought a level of excitement and surprise to the evening no one expected. The feeling in the room is indescribable, and only makes me that more excited for the rest of the week.

We are back on schedule tonight with a full agenda of what is sure to be an evening filled with moving speakers - so it can only get better!

September 1, 2008

by Vance Day

Saturday night, two staff members from the Oregon Republican Party and I sat on the floor of my hotel room stuffing 57 gift bags for the Oregon delegation and watching the news about Hurricane Gustav with great concern. It wasn't long after the news broke about the Republican National Convention's schedule changing that our cell phones started to ring with calls from the Oregon delegates. Some were calling from the airport wondering if they should still come, and others sitting in the lobby of the hotel wondering what to do now. Their concern was understandable.

Since then, we have all heard the serious warnings and seen the evacuation orders. Yes, there is a minor level of disappointment. =2 0However, as Senator McCain said, we are Americans first, and Republicans second - so it's the right to hold off on the celebratory tone of the convention and just focus on essential RNC business today.

Although the script of today's convention is not what we expected, the Oregon delegation couldn't be more excited to get started. The group is set to meet outside in less than an hour to catch the buses going to the 2008 Republican National Convention. We won't be seeing the glitz and glamour from the Democratic National Convention today, but we will do the business that needs to be done!

You know, aside from all the hoopla and politics of the day, it is my daughter's 21st birthday today. It's hard to believe that my "little love" has now reached that milestone. She has become such a beautiful young woman - a Sarah Palin in the making. Mattie and I are so proud of our Elizabeth.