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About Hermiston herald. (Hermiston, Or.) 1994-current | View Entire Issue (June 17, 2015)
WEDNESDAY, JUNE 17, 2015 A4 HERMISTONHERALD.COM BUSINESS Fontaines back in business Send submissions or story ideas for the Herald Business page to Editor Jessica Keller, jkeller@hermistonherald.com Money management for the ‘boomerang’ D ue to recent economic realities, multi-generational living has been on the rise for many families. A 2014 Pew Research Center analysis (http:// www.pewsocialtrends. org/2014/07/17/in- post-recession-era- young-adults-drive- continuing-rise-in-multi- generational-living/) showed that a record 57 million Americans, equal to a little more than 18 percent of the U.S. population, lived in multi-generational family households in 2012 — double the number in 1980. The major driver was young adults aged 25-34. According to Pew, nearly 24 percent of these older millennials lived in multi-generational households, increased from nearly 19 percent in 2007 and 11 percent in 1980. It’s possible the “boomerang” family trend will remain in place for some time to come. For homeowner parents who may also be juggling the “sandwich” responsibilities of caring for older relatives, paying DWWHQWLRQWRWKH¿QDQFLDO and behavioral details of taking in family is critical. Here are some suggestions to consider: <RXU¿QDQFHVFRPH ¿UVW2SHUDWLQJDIXOO house means higher utility and food costs and additional wear and tear on the property. Taking in family also shouldn’t derail a parent’s career goals or retirement planning, nor should it diminish other necessary ¿QDQFLDOREMHFWLYHVOLNH maximizing savings or eliminating debt. That’s why dual- or single- parent households might begin with a complete ¿QDQFLDODVVHVVPHQW before welcoming kids or elders back home. A discussion with TXDOL¿HG¿QDQFLDODQG tax advisors might be worthwhile to determine how much expense you can take on. For arrangements that go beyond free lodging to direct cash support of family members, gift tax issues should be explored. • Make a real agreement. A home is stability and therefore VRPHWKLQJRIVLJQL¿FDQW value. That is why it is appropriate to consider rent or request in-kind services in exchange for room and board. Young adults — particularly those who were fully under parental support in college — need to learn this important lesson even if they are moving home to save money to pay off loans, to buy a car or put a down payment on a home. Ask trusted advisers about what makes sense in your situation. If you decide to accept rent, -$621$/'(50$1 MONEY MATTERS Visa columnist know there are potential tax issues (http://www. irs.gov/taxtopics/tc415. html) based on the structure, timeframe and expenses related to such an agreement. Legal paperwork may be required, but there also may be rental expenses you can deduct. • Establish timelines. In the real world, ¿QDQFLDODUUDQJHPHQWV are rarely open- ended. Depending RQWKH¿QDQFLDOWD[ and legal advice you receive as well as local tenant law and personal preferences, you may be signing DQRI¿FLDOOHDVHIRU your family member’s VWD\ZLWKDVSHFL¿F timeline of months or years. Whatever the requirements, make sure you have an effective framework that sets VSHFL¿F¿QDQFLDODQG behavioral rules you want met. • Start with a family meeting. Before moving trucks arrive, family members should meet for a discussion about the impending move. Start by letting your child or family member talk through why they want to move in, whether they have ¿QDQFLDOJRDOVWLHGWR the living arrangement and how long they plan to stay. Share the structure you envision, including the payment details you would consider. No matter how an agreement is struck, it should begin with a full discussion of needs, SUHIHUHQFHV¿QDQFLDO terms, and most of all, ways to make the arrangement successful DQGVPRRWK2QFHWKH move happens, regular conversations should continue about the living arrangement. After all, boomerang families have unique, ongoing ¿QDQFLDOLVVXHVWKDWZLOO require discussion. • Prepare to track H[SHQVHV2QFHDJUHHG UHWUR¿W\RXUKRXVHKROG budget to keep track of higher food, utility and related expenses for cost- sharing and potential tax purposes. Having people you love living with you will hopefully have many rewards that go beyond simple dollars, but always know what the arrangement is costing you. %RWWRPOLQH2SHQLQJ your home to returning family members is a real ¿QDQFLDOFRPPLWPHQW Think through money, tax and household issues before you say yes. — Jason Alderman GLUHFWV9LVD¶V¿QDQFLDO education programs. To Follow Jason Alderman on Twitter: www.twitter. com/PracticalMoney HermistonHerald VOLUME 109 ɿ NUMBER 37 JESSICA KELLER EDITOR jkeller@ hermistonherald.com 541-564-4533 After 9-year hiatus, local couple takes over Stockmans Restaurant Stockmans Restaurant Chuck and Karen Fontaine, who previously operated Fontaine’s Restaurant at two diff erent locations in Herm- iston, took over Stockmans Restaurant in December. This restaurant off ers breakfast, lunch at dinner. Hours: 6 a.m. to 10 p.m. Sunday and Monday, 6 a.m. to 11 p.m. Tuesdays through Saturdays Address: 1530 N. First St., Hermiston Phone: 541-564-0485 BY SEAN HART HERMISTON HERALD Chuck and Karen Fon- taine took over Stockmans Restaurant in Hermiston late last year, but they aren’t new to the Hermiston restaurant scene. The couple has years of local experience in the in- dustry. The Fontaines bought WKHLU ¿UVW +HUPLVWRQ UHVWDX rant, the Steel Wheel, in 1976 and changed the name to Fon- taine’s Restaurant 10 years later. After selling the build- ing to American West Proper- ties in 1996, Karen Fontaine said the couple purchased the old Caravan building and operated Fontaine’s there for 10 years. In 2006, they sold WKDWEXLOGLQJWR<H2OGH3L]]D Shoppe and tried to retire. “The last nine years, we’ve just been running around doing nothing, being lazy,” she said. “My husband was cooking at the Midway Tavern, and I was taking care of seniors and just be- ing lazy. We decided that we were lonesome for all of our customers and decided that we wanted to come back, so here we are — crazier than we were before.” Karen Fontaine said she has been excited to see many former customers at Stock- mans. She said both she and her husband went to school here and have many old friends in the area. “Both of us came from here, and my husband’s mother had a restaurant here back in the ’50s, ’60s and ’70s,” she said. “We just like it. We like the restaurant busi- SEAN HART PHOTO Karen and Chuck Fontaine, took over Stockmans Restaurant in Hermiston in December. The couple previously operated Fontaine’s Restaurant in Hermiston at two different locations for 30 years. ness. We like the people.” She said they decided not to change the name to Fon- taine’s — at least not yet — because they only signed a three-year contract. After that, she said she would be 75 and her husband would be 80. “We think that’s probably long enough,” she said. “We think, by the time we’re that old, we probably should be getting the heck out of here.” Karen Fontaine said, al- though it features the same quality service and skill in the kitchen, Stockmans is differ- ent than their previous restau- rants. While their former fo- cus was on higher-end meals, such as steak and lobster, she said Stockmans offers a vari- ety of favorites, such as meat loaf and hot roast beef sand- wiches, at reasonable prices. “We have lamb and steaks, so they’re a little upgraded, but then you still have the chicken fried steaks and the old-fashioned meals,” she said, adding that her husband makes homemade soups dai- ly. “We have fresh mashed potatoes and gravy, and we have seafood and Italian food. We serve everything that peo- SEAN HART PHOTO Terri Nobles works in the lounge at Stockmans Restaurant Monday in Hermiston. Chuck and Karen Fontaine, who operat- ed Fontaine’s Restaurant in Hermiston for 30 years, took over the restaurant in December. ple like to eat.” Another big change is that Stockmans offers breakfast, lunch and dinner. The busi- ness opens at 6 a.m. every day and stays open until 10 p.m. Sundays and Mondays and until 11 p.m. Tuesdays through Saturdays. Karen Fontaine said they are trying to get lottery machines for the lounge area, which would probably then remain open longer. With longer hours, she said Stockmans has 20 em- BMCC hosts apprenticeship council summit Thursday Blue Mountain Community College ZLOO KRVW WKH 2UHJRQ State Apprenticeship and Training Council at 10 a.m. Thursday in Pendleton. %UDG $YDNLDQ 2U egon’s commissioner of the Bureau of Labor and Industries, serves as the council’s chair- person. The council’s eight governor-ap- pointed members have the authority to oversee apprenticeship commit- tees, programs and pol- icies around the state. According to a press release from BMCC, an apprenticeship can be the first step to find- ing well-paying work in their chosen indus- try. Apprentices usu- ally start off with half the salary of so-called journey workers. Jour- ney workers have a higher chance of se- curing a position in the industry, becoming a supervisor or even go- ing into business for themselves. ployees, compared to seven at their last restaurant. To provide the Fontaine level of service, she said all of the employees work hard to take care of the customers. “We care what the people want and try to do as much as we can to make the custom- ers comfortable, and our help does too,” she said. “People should come here because the service is excellent, the food is really good and the prices are reasonable. What else can I say?” Chamber hosts B2B luncheon June 23 Apprenticeship com- mittees facilitate ap- prenticeship programs, which are designed to give workers super- vised on-the-job expe- rience and classroom instruction in a particu- lar field. The meeting in Room 200 of the Sci- ence and Technology Building is open to the public. For more informa- tion, and to view an agenda, visit www.ore- gon.gov/boli/ATD. The Hermiston Chamber of Commerce with host its month- ly Business-to-Business lun- cheon at 11:45 a.m. Tuesday, June 23, at the Hermiston Con- ference Center, 415 S Highway 395. The guest speaker for this month’s meeting is Melisa Drugge, business development RI¿FHUIRUWKHHDVWHUQUHJLRQRI %XVLQHVV2UHJRQWKHVWDWHHFR nomic development agency. The monthly meetings are held the fourth Tuesday of the month. Cost is $10 for chamber members, $13 for non-mem- bers. To RSVP, call 541-567- 6151. Northwest Farm Credit Services awards Echo PTA grant Northwest Farm Credit Services recently awarded the Echo School District Parent-Teacher Association a $1,000 Northwest FCS/CoBank Rural Community Grant Award. The grant will be used to replace the ex- isting pea gravel on the playground with rubber matting and rubber mulch. “The Northwest Farm Credit Grant To contact the Hermiston Herald for news, advertising or subscription information: • call 541-567-6457 • e-mail info@hermistonherald.com • VWRSE\RXURI¿FHVDW(0DLQ6W • visit us online at: www.hermistonherald.com SEAN HART REPORTER smhart@ hermistonherald.com 541-564-4534 6$0%$5%(( SPORTS REPORTER sbarbee@ hermistonherald.com 541-564-4542 that Echo Elementary School received this spring has put our school one step closer in the goal of ensuring the safe- ty of our students and their enjoyment of our playground,” Echo PTA’s Lind- say Murdock said in a press release. According to the release, North- west FCS is committed to helping rural communities succeed. This year Northwest FCS, with support ANNUAL SUBSCRIPTION RATES Delivered by carrier and mail Wednesdays and Saturdays ,QVLGH8PDWLOOD0RUURZFRXQWLHV .........................$42.65 2XWVLGH8PDWLOOD0RUURZFRXQWLHV ......................$53.90 JEANNE JEWETT MULTI-MEDIA CONSULTANT jjewett@ hermistonherald.com 541-564-4531 from CoBank, has awarded 46 ru- ral grants totaling nearly $100,150. Since 2007, Northwest FCS has presented 399 rural grants totaling more than $810,900. The next rural JUDQW GHDGOLQH LV 2FW 1RUWKZHVW FCS customers who think their ru- ral projects may be eligible can visit northwestfcs.com for more informa- tion. The Hermiston Herald (USPS 242220, ISSN 8750-4782) is published twice ZHHNO\DW+HUPLVWRQ+HUDOG(0DLQ6W+HUPLVWRQ25 567-6457, FAX (541) 567-1764. Periodical postage paid at Hermiston, OR. Postmaster, send address changes to Hermiston Printed on +HUDOG(0DLQ6W+HUPLVWRQ25 recycled newsprint $PHPEHURIWKH(20HGLD*URXS&RS\ULJKW .,0/$3/$17 MULTI-MEDIA CONSULTANT klaplant@ hermistonherald.com 541-564-4530