Business News: GF home sales…Cannabis & Gratitude on Repeat

American consumers are feeling slightly more confident this month as the all-important holiday shopping season kicks into high gear. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 102 from 99.1 in October. (AP)

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Slightly more Americans filed for jobless claims last week, but the overall number of people in the U.S. collecting unemployment benefits rose to its highest level in two years. Jobless claim applications are seen as representative of the number of layoffs in a given week. 1.93 million people were collecting unemployment benefits. (AP)

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A total of 56 home sales in Grand Forks and East Grand Forks were closed in November. While that was eight higher than one year ago it trails numbers seen the three previous years. The average sales price was $293,642 dollars. According to figures from the Grand Forks Area Association of Realtors a total of 622 homes…townhomes…and condos have been sold in 2023.

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The ¼% restaurant lodging component of Grand Forks sales tax generated $75,915.32 in November. Overall, collections are up roughly 13% on a calendar year basis – and up 8.96% on a 12-month rolling basis. The local component of the tax exceeds $619,000 in 2023.

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Xcel Energy has named Ryan Long as the new president for Minnesota…North Dakota & South Dakota. Long takes over the duties from Chris Clark who will retire March 1st. Long joined Xcel Energy in 2015 and is currently responsible for leading the legal department and executing the company’s legal strategy as interim general counsel.

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North Dakota Public Service Commissioner Julie Fedorchak has been elected President of the National Association of Regulatory Utility Commissioners. Fedorchak has served on the Commission since 2013 when she was appointed by Gov. Jack Dalrymple. She was confirmed by the voters in 2014 and was elected to a full six-year term in 2016 and 2022.

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Minnesota’s Office of Cannabis Management has named Max Zappia as the agency’s Implementation Chief Regulatory Officer. Zappia, the Deputy Commissioner of Financial Institutions at the Minnesota Department of Commerce, will be on a temporary reassignment from his current role to lead the design, implementation, and launch of the regulatory structure for the OCM.

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Standard & Poor’s has affirmed the Bank of North Dakota’s (BND) credit rating as A+/Stable in its annual review. The ratings are consistent with those given by S&P in November 2022. S&P is a U.S. based financial services company that publishes financial research.

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You can now nominate a nonprofit organization to receive a free radio ad schedule with Leighton Broadcasting. The so-called Gratitude on Repeat effort includes free production and a 13 week schedule on select stations. The program was launched in 2017. Nominations will be accepted until December 31st. The winner will be announced on in early January. https://radiomarketing.leightonbroadcasting.com/gratitude-campaign-2023

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Electric vehicles have proved far less reliable, on average, than gasoline-powered cars, trucks and SUVs, according to the latest survey by Consumer Reports, which found that EVs from the 2021 through 2023 model years encountered nearly 80% more problems than did vehicles propelled by internal combustion engines. Consumer Reports said EV owners most frequently reported troubles with battery and charging systems. (AP)