Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 12th, 2013
Clarksville, TN – The economic data surprised. Real GDP rose at a stronger-than-expected 2.8% annual rate in the advance estimate for 3Q13, but the figure was boosted by faster growth in inventories (which added 0.8 percentage point to GDP growth).
Consumer spending rose at a 1.5% annual rate, while business fixed investment rose 1.6% – nothing to write home about. The partial government shutdown had a mixed impact on the October employment figures.
Nonfarm payrolls rose by 204,000 (median forecast: +125,000), while August and September figures were revised a net +60,000.
Frazier Allen
Screaming Eagle Car Wash receives Clarksville-Montgomery County Green Certification
Montgomery County, TN – The latest business to be recognized for completing Clarksville-Montgomery County Green Certification is Screaming Eagle Express Car Wash.
Screaming Eagle Car Wash provides a common service in a unique way that allows more than 80 % of their water to be reused.
Screaming Eagle Car Wash Green Ribbon Cutting Ceremony.
Legends Bank protects Veterans with Crime Prevention Program in Veterans Homes
Clarksville, TN – Legends Bank has joined with the Senior Housing Crime Prevention Foundation (SHCPF), the Independent Community Bankers of America (ICBA) and the American Bankers Association (ABA) to ensure that 40,000 Veterans living in 160 state Veteran nursing homes in the U.S. are able to live out their lives in safe, secure, enhanced quality of life environments free from the daily fear of crime, abuse, neglect, hostility and deprivation of personal freedom, as provided through the Senior Housing Crime Prevention Foundation’s Senior Crimestoppers program.
Logan’s Roadhouse Honors Veterans with Folds of Honor Partnership
Nashville, TN – For guests looking to make a difference this Veterans Day, Logan’s Roadhouse has also formed a partnership with Folds of Honor (Folds of Honor Foundation), donating a portion of sales to the foundation to help support families of deceased or disabled veterans through scholarship programs and additional assistance.
The partnership was launched through Logan’s desire to not only help veterans near restaurant locations, but to also create a larger impact on the lives of veterans across the United States and abroad.
Clarksville based Hand Family Companies purchase stake in Chicago based Beer Distributorship
Clarksville, TN – Hand Family Companies (“Hand”), a family-owned beer distributor based in Tennessee, today announced it has reached an agreement to acquire Anheuser-Busch’s 30-percent interest in CITY Beverage–Illinois LLC (“CITY”) and partner alongside BDT Capital Partners (“BDT”) in its acquisition of 100-percent of River North Sales and Service LLC (“River North”) in two separate transactions, creating the largest distributor in Illinois and the Chicago metropolitan area market selling approximately 23.5 million annual case equivalents.
Terms of the transaction were not disclosed.
J.R.Hand
Stock market offers tricks and treats in October 2013
Clarksville, TN – The markets sent investors mixed messages in October, generally trending upwards despite signs of volatility around the government shutdown and subsequent reopening.
At the end of the month, stocks – which had enjoyed a days-long record run – began to show some weakness after Federal Reserve policymakers said the economy wasn’t growing quickly enough to curtail its bond purchases and dial back on some of its economic stimulus.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 28th, 2013
Clarksville, TN – The September Employment Report (delayed from October 6) was disappointing relative to expectations (although hardly “weak”). Nonfarm payrolls rose by 148,000 (median forecast: +180,000). The two previous months were revised a net 9,000 higher.
Note that seasonal adjustment is often tricky in September (due to the start of the school year). The unemployment rate edged down to 7.2%, while the labor force participation rate held steady. The employment/population rate held steady, but was down slightly from a year earlier.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 22nd, 2013
Clarksville, TN – As was widely anticipated, lawmakers reached an 11th-hour agreement on the budget and debt ceiling. The “Continuing Appropriations Act, 2014” funds the government through January 15th, suspends the debt ceiling to February 7th, and requests bipartisan House/Senate budget negotiations by December 13th.
Thus, while the deal dodges a near-term financial catastrophe, it does not remove uncertainty entirely. Lawmakers will have less than three months to agree on a new spending authorization.
Frazier Allen
FASTSIGNS® of Clarksville Now Open
Clarksville, TN – On Wednesday, October 9th, 2013, signs and graphics provider FASTSIGNS® of Clarksville opened for business at 2141 Wilma Rudolph Boulevard.
“With our talented team, exceptional customer service and expert marketing and graphic design knowledge, FASTSIGNS of Clarksville is ready to provide local businesses and organizations with first-rate signs and graphics to achieve their goals,” said Lincoln Barnard, who owns FASTSIGNS of Clarksville with his wife, Connie.
Pictured from left to right: Matt McColbey, graphic designer; Samantha Serum, visual communications specialist; Catherine Monson, CEO of FASTSIGNS International, Inc.; Lincoln Barnard, owner; Denny Fry, marketing and media manager.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 13th, 2013
Clarksville, TN – The partial government shutdown and brinksmanship over the debt ceiling continued. However, financial market participants were encouraged by signs that the two sides were at least willing to talk to each other.
House Republicans appear to have abandoned demands for a repeal or delay of the Affordable Care Act, but it hasn’t been clear what they want instead. Note that a temporary (six-week or three-month) extension of the debt ceiling does not remove uncertainty completely, but it would sidestep a near-term financial catastrophe.
Frazier Allen
