The Weekly Market Snapshot from Frazier Allen
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
The minutes of the September 21st meeting of the Federal Open Market Committee showed some differences of opinion among Fed policymakers, but a general leaning toward further monetary policy accommodation (specifically, additional Fed purchases of long-term Treasury securities). Details of the mechanism and communications strategies had yet to be worked out. In the minutes, Fed officials pointed to the importance of real (inflation-adjusted) interest rates and the need to boost inflation expectations from current low levels (an increase in inflation expectations would reduce real short-term interest rates, boosting economic activity). Investors were looking for more details in the Fed chairman’s speech on Friday, but were disappointed by a lack of clarity. Bernanke indicated that “there appears to be a case for further action,” but he implied that that was not a done deal and was conditional on incoming economic data and a weighing of the potential costs and benefits. Still, with the Fed expecting both growth and inflation to trend too low for the foreseeable future, further accommodation seems more likely than not. [Read more]
Private Military Shopping Night at Governor’s Square Mall
Governor’s Square Mall will hold their annual Military Shopping Night this Sunday, October 17th from 6:30pm – 8:30pm. All Military and their families must use the main entrance and be ready to show ID cards, military shoppers will receive special discounts! Refreshments will be sampled from participating merchants. Register-to-Win a -$1,000 Grand Prize courtesy of Steve Nash, Keller Williams; along with other great prizes from mall merchants.
Governor's Square Mall
Clarksville Networking Group holds Visitors Day
Clarksville, TN – The Clarksville Networking Group will hold a visitors day on Tuesday, October 19th at the Riverview Inn in downtown Clarksville. Any business representative is invited to attend the meeting to find out more about the organization.
Clarksville Networking Group was formed in 2003 by a group of local business people to give members an organized avenue to increase business through professional referrals. Tuesday’s Visitors day will start with a free breakfast at 8:30am.
For more information on the Clarksville Networking Group, ask any member or go to the website: www.ClarksvilleNetworkingGroup.net.
City votes on Clarksville’s Best for the March of Dimes
Clarksville, Tenn -The Best of Clarksville fundraiser for the March of Dimes is eagerly awaited each year by both businesses and area residents. The fundraiser this year featured 140 businesses in 65 categories; each one looking to score the votes of area residents to be declared The Best of Clarksville. The event consists of local vendor booths, silent auctions, dance performances, free give-a-ways, and a fireworks show by Allen’s Fireworks. All of the money raised is donated to the March of Dimes.
Matthews Nissan Suzuki was the presenting sponsor. Other sponsors included Five Star Radio, Sango Village Florist, US Bank, Cumberland Bank and Trust, FedEx, Allen’s Fireworks, Ad One Advertising, WJZM 1400 AM, and The Leaf-Chronicle.
The 2010 Best of Clarksville event
Jerles-Orton Joins Planters Commercial Banking Staff
Clarksville, TN – Planters Bank announces the addition of Amy Jerles-Orton as vice president of commercial and professional banking.
Jerles-Orton comes to Planters from Regions Bank where she worked as a business banker and branch manager.
Amy Jerles-Orton
“Amy is a well-established and active leader in the Clarksville business community,” said CEO Elizabeth McCoy. “We are obviously proud to have her join our excellent team.”
Jerles-Orton currently serves as president of the Clarksville Young Professionals, is on the Chamber of Commerce and YMCA Board of Directors, and is a graduate of Leadership Clarksville. She attended Bethel University.
Jerles-Orton will work from the bank’s Hilldale office, located at 1971 Madison Street.
Headquartered in Hopkinsville, Planters Bank maintains three offices in Hopkinsville and five in Clarksville.
James R. Clay Takes Over Local Edward Jones Office
Clarksville, TN – James R. Clay has been named to take over the local Edward Jones office located at 1803-B Madison Street. Clay transferred to Clarksville from an Edward Jones office in Massillon Ohio.
“We are excited to have someone with Jimmy’s experience taking over our Clarksville office,” said Edward Jones Managing Partner Jim Weddle. “We’ve been serving the investment needs of people in the area for the past 10 years, and we believe that Jimmy will excel at continuing that tradition.” [Read more]
Hemlock Semiconductor to host a career fair
Clarksville, TN – Hemlock Semiconductor, L.L.C. is hosting a career fair on Thursday, October 14th, from 9:00am to 7:00pm at the Montgomery County Civic Center (350 Pageant Lane) in Clarksville.
Workers who are interested in applying for jobs at Hemlock Semiconductor’s Clarksville facility can get information about available positions for production operators, as well as jobs in skilled trades, loss prevention and occupational health.
Limited information about professional positions will be available, as a separate event for engineers is planned for early 2011. More information about careers at Hemlock Semiconductor is available at www.hscpoly.com.
The Weekly Market Snapshot from Frazier Allen
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
As expected, the Federal Open Market Committee (FOMC) left the target range for the overnight lending rate unchanged at 0% to 0.25% and retained its conditional commitment to keep rates low for “an extended period.” The wording of the FOMC’s economic assessment was little changed. The committee repeated that “the pace of recovery is likely to be modest in the near term.” The big change in the statement was the admission that “measures of underlying inflation are currently at levels somewhat below those the Committee judges most consistent, over the longer run, with its mandate to promote maximum employment and price stability.”
In other words, the Fed views the underlying trend in inflation as too low (for those of you who remember the inflation of the 1970s, this may seem extraordinary). Recall that the Fed’s definition of “price stability” does not mean 0% inflation – rather, as former Chairman Alan Greenspan put it, “price stability exists when inflation is not a consideration in household and business decisions.” [Read more]
Austins Beauty College continues tradition of cosmetology education in Clarksville
Austin's Beauty College on the day of its grand reopening
The Austin’s Beauty College was submerged during the May 2010 Flooding.”Our coming back was never a sure thing,” said Linda Austin of Austin’s Beauty College, Inc as she talked to Clarksville Online on Monday, the night of their official reopening.
It started on April 30th as images of the rising waters appeared on the news. Austin rushed down to the school to remove the records and computer equipment. She said that there wasn’t time to get all of the furniture and equipment out of the building. so she set what remained up as high as she could.
The flood waters around the Austin's Beauty College Building during the crest of the flood.
Planters Names Michael Selfe Cash Management Director
Planters Bank announces the addition of Michael Selfe as director of cash management.
Selfe comes to Planters with more than 12 years of experience in treasury and cash management experience. Most recently, he served as financial services officer for middle and east Tennessee with First State Bank. Prior to that, he worked as a treasury management sales officer for SunTrust Bank.
Michael Selfe
“Mike brings a depth of cash management experience to Planters,” said CEO Elizabeth McCoy. “He will become an integral part of our commercial banking team and we are thrilled to have him.”
Selfe will work in from the Commerce Street office in Clarksville and the Main Office in Hopkinsville.
A graduate of David Lipscomb University, Selfe received a BBA in Marketing. He enjoys golf, running and a variety of other sports. He is married to Kelly and they have one daughter.
Headquartered in Hopkinsville, Planters Bank maintains three offices in Hopkinsville and five in Clarksville.
