Thanksgiving Day Dinner to be served at some Local Restuarants
Clarksville, TN – On Thanksgiving Day, most of us will be gathering with friends and family members to enjoy the traditional holiday meal together. For those who do not wish to cook, the options are somewhat limited as most of the restaurants in town will be closed.
The following sit down restaurants are going to be open on Thanksgiving Day: [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of November 19th, 2012
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
The economic data were clouded by the effects of Hurricane Sandy and in most cases it’s impossible to isolate the storm’s impact. Retail sales fell 0.3% in October, although Sandy had both positive and negative effects. Initial claims for unemployment insurance benefits jumped, similar to the increase seen after Katrina in 2005. Industrial production fell 0.4% and Federal Reserve economists estimate that Sandy shaved a full percentage point from the headline production figure. Factory output fell 0.8%, but would have been flat if not for Sandy.
Currently, the Fed is buying about $40 billion per month in Mortgage-Backed Securities as part of its Large-Scale Asset Purchase program (QE3, funded by the creation of money) and about $45 billion in long-term Treasuries through its Maturity Extension Program (“Operation Twist”, funded by selling short-term Treasuries out of its portfolio). Operation Twist ends in December. [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of November 11th, 2012
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
After all the fund raising, primaries, conventions, robocalls commercials, and actual voting, the leadership in Washington remains the same. President Obama was given another four years. The Republicans retained control of the House of Representatives. The Democrats kept control of the Senate, picking up one seat despite having many more seats to defend. The stock market rallied on Election Day, despite tough odds for Governor Romney (based on the electoral map and recent polls).
The stock market fell sharply after the election results, partly reflecting disappointment that Romney didn’t win, but more importantly, as investor attention turned toward the fiscal cliff. The fiscal cliff (mostly the expiration of the Bush-era tax cuts, the end of the 2% reduction in payroll taxes, and forced spending cuts following the failure of the Super Committee last year) does not hit all at once. If a deal is not reached by the end of the year, President Obama and the new Congress have several weeks to reach a deal in 2013 before the economy weakens. Unfortunately, the two sides remain far apart on how to reduce the budget deficit. [Read more]
Planters Bank announces Partnership with Inova Payroll
Planters Bank has partnered with Inova Payroll, to provide payroll, HR and tax filing services for the bank’s business customers.
Hopkinsville, KY – Planters Bank has partnered with Inova Payroll, the largest Tennessee-based payroll service provider of payroll, HR and tax filing solutions.
As part of its suite of business services, Planters’ business clients will now have access to payroll and HR solutions utilizing convenient, state-of–the-art, single database technology.
“Planters Bank is committed to building and maintaining strong relationships with our business customers by offering them products and services designed to help them succeed.” said Elizabeth McCoy, President and CEO of Planters Bank. [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of November 6th, 2012
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Superstorm Sandy delivered a hard punch to the upper mid-Atlantic states, contributing to tragic loss of life and severe property damage. Flooding in lower Manhattan led to a two-day shutdown of the NYSE. It will take some time to assess the economic effect and the impact appears likely to be much larger than initially estimated. However, it is likely to be limited relative to a $16 trillion national economy. Severe weather typically shifts some spending around and rebuilding will add to GDP growth.
The economic data remained consistent with moderate economic growth. However, the October Employment Report was much stronger than anticipated. Nonfarm payrolls rose by 171,000 (vs. a median forecast of +125,000), while figures for August and September were revised a net 84,000 higher. The unemployment rate ticked up to 7.9%, but that appeared to reflect statistical noise in a general downtrend. For those aged 25-55 years, labor force participation has stabilized and begun to trend higher and the employment/population ratio is much higher than a year ago (76.0%, vs. 74.8%). [Read more]
Market Update: November seems promising after an eventful October
Clarksville, TN – This has been an interesting month, to say the least. Not only did we mark the 83rd anniversary of the Black Tuesday stock market crash, but we also saw Hurricane Sandy shut down the New York Stock Exchange for two days during the final week of the month.
The last time a hurricane closed the NYSE was September 1985. We have to go back to 1888 for the last time markets closed on consecutive days due to weather. [Read more]
Clarksville Area Chamber of Commerce November Events
Clarksville, TN – The Clarksville Area Chamber of Commerce announces upcoming events during the month of November.
On November 10th, the Chamber will be hosting the 20th Annual Veterans Day Breakfast at the Austin Peay State University Morgan Center. The morning will begin with a buffet style breakfast at 7:30am followed by a salute to our veterans and then will conclude with COL Andrew P. Poppas, Deputy Commander (Operations), 101st Airborne Division (Air Assault), serving as the keynote speaker.
Tickets are currently on sale for $15.00 each and can be purchased by contacting Yvonne Pickering at yvonnep@clarksville.tn.us or 931.245.4340. [Read more]
13th Annual Halloween “Candy Buy Back” to support local charity in Clarksville-Montgomery County
Clarksville, TN – Clarksville Dental Center (CDC) is holding its 13th annual “Candy Buy Back”. The doctors say the reasons are many, in addition to the fact that one never knows exactly what is in your child’s bag.”All that sugar hurts the child’s teeth and puts on body weight as well,” says Dr. Edington.
The doctors at CDC are offering $1.00 per pound of candy, and they will match that dollar with another dollar to be donated to a Clarksville/Montgomery County charity.
Clarksville Dental Center’s Candy Buy Back
The Weekly Market Snapshot from Frazier Allen for the week of October 30th, 2012
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
The economic data reports were mixed. Real GDP rose at a 2.0% annual rate in 3Q12 (+2.3% y/y), boosted partly by an increase in government spending (the first since 2Q10). The report showed a moderate pace of consumer spending and weakness in business fixed investment. Durable goods rose 9.9%, reflecting a rebound in aircraft orders. However, orders and shipments of nondefense capital goods weakened and unfilled orders (ex-transportation) continued to weaken.
The Federal Open Market Committee left short-term interest rates unchanged, did not alter its forward guidance (on the federal funds target rate), and kept its Large-Scale Asset Purchase program (QE3) in place. At the December 12-13 FOMC meeting, officials are likely to decide whether to extend Operation Twist or up its asset purchase plans. [Read more]
Clarksville Area Chamber of Commerce Membership Event gets over 200 Business Leader Volunteers
Clarksville, TN – Over 200 business and community leaders volunteered for the Clarksville Area Chamber of Commerce Membership Event held October 9th through 11th, which helped spread the word of the value and importance of being a part of the local Chamber.
Over 200 Business Leaders Volunteer for Clarksville Chamber Membership Event.
