Weekly Market Snapshot from Frazier Allen for the week of March 3rd, 2013
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Italian election results (a government in deadlock) dampened the party mood in equities. Bernanke monetary policy helped sooth fears that the Fed might end its asset purchase program earlier rather than later. Bernanke said that Fed officials “do not see the potential costs of the increased risk-taking in some financial markets as outweighing the benefits of promoting a stronger economic recovery and more-rapid job creation.”
Leaders in Washington failed to reach an agreement to avoid the sequester, but a deal could be reached as part of an agreement to authorize government spending after March 27th (which is when the current Continuing Resolution ends). [Read more]
Aladdin Technologies receives Clarksville-Montgomery County Green Certification
Montgomery County, TN – Aladdin Lighting Technologies, an American-owned and operated company that has thrived in lighting for more than 100 years, is the latest business to earn Clarksville-Montgomery County Green Certification.
Aladdin Lighting Technologies Green Ribbon Cutting Ceremony
Clarksville-Area Chamber of Commerce hosted Fourth annual Home and Garden Show
Clarksville, TN – On February 23rd and 24th, the Clarksville-Area Chamber of Commerce held their fourth annual Home and Garden show at the Foy Fitness Center on Austin Peay State University.
The show was sponsored by the Clarksville-Area Chamber of Commerce, the Leaf Chronicle, and Furniture Connection. 57 Vendors were on hand to offer Clarksvillians tips on getting ready for the rapidly approaching spring.
The 4th Annual Home and Garden Show
Weekly Market Snapshot from Frazier Allen for the week of February 24th, 2013
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
The FOMC minutes from the January 29th-30th policy meeting showed a greater level of discomfort regarding the Fed’s large-scale asset purchases. “Many participants,” suggesting a majority, “expressed some concerns about potential costs and risks arising from further asset purchases.”
Several participants “discussed the possible complications that additional purchases could cause for the eventual withdrawal of policy accommodation, a few mentioned the prospect of inflationary risks, and some noted that further asset purchases could foster market behavior that could undermine financial stability.” Several others “argued that the potential costs of reducing or ending asset purchases too soon were also significant, or that asset purchases should continue until a substantial improvement in the labor market outlook had occurred.” [Read more]
Aladdin Lighting Technologies Green Ribbon Ceremony Tuesday, February 26th
Montgomery County, TN – The Clarksville-Montgomery County Green Certification Program invites you to the green ribbon cutting ceremony for Aladdin Lighting Technologies.
Aladdin Lighting Technologies recently completed the green certification process and will celebrate this accomplishment on Tuesday, February 26th at 11:00am at their 681 International Boulevard location.
For more information on the Clarksville-Montgomery County Green Certification Program, contact Michelle Newell at manewell@mcgtn.net.
Weekly Market Snapshot from Frazier Allen for the week of February 20th, 2013
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
In his State of the Union Address, President Obama proposed various efforts to boost manufacturing jobs, universal pre-K education and an increase in the minimum wage. However, there’s little chance that any of these proposals will make it to the floor of the House.
The economic data were mixed. Retail sales rose a modest 0.1% in January. Industrial production slipped 0.1%, but figures for November and December were revised higher. The New York Fed’s Empire State Manufacturing Index and the mid-February reading on consumer sentiment surprised to the upside. [Read more]
Heritage Bank parent company HopFed Bancorp, Inc. to acquire Tennessee-Based Sumner Bank & Trust
Hopkinsville, KY – HopFed Bancorp, Inc. (NASDAQ: HFBC) (“HopFed”), the parent company of Heritage Bank in Hopkinsville, Kentucky (“Heritage”), today announced that it has entered into a definitive agreement to acquire Sumner Bank & Trust (OTC Pink: SBKT), based in Gallatin, Tennessee (“Sumner”).
HopFed has agreed to pay approximately $14.3 million in cash, or $10.04 per share, to purchase all of the common stock and common stock equivalents of Sumner, including common stock that would be issued upon the conversion of Sumner’s convertible preferred stock upon a change of control (subject to adjustments). [Read more]
Planters Bank Supports Northeast Middle School Robotics Team
Clarksville, TN – Representatives from Planters Bank recently presented a check to the Northeast Middle School robotics teams.
The Northeast Electric Eagles Gold First LEGO League (FLL) robotics team recently won the First Place Champion’s Award and the Blue FLL team won the Robotic Programming Award at the West Tennessee State Championship held at the University of Memphis on December 8th, 2012.
(Front row, L-R) Planters Bank VP of Business Development Joe Pitts, Scott Moore, Bailyn Dupont and Planters Bank Marketing Director Michelle Dickerson.
Weekly Market Snapshot from Frazier Allen for the week of February 10th, 2013
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Federal Reserve Governor Jeremy Stein fell short of declaring that credit markets are overheating, but suggested that an extended period of low interest rates could lead to the taking on of greater duration of credit risks, or to employment of greater leverage in a “reach for yield.” He said that the Fed must monitor the financial markets closely and could address signs of excessive risk-taking through regulatory efforts or through monetary policy.
Next week, President Barack Obama will deliver his State of the Union Address on Tuesday evening (which is also Mardi Gras). Most likely, the President will ask that Congress postpone the sequester through the end of the year. Note that it’s not costless to do so – there has to be an offsetting increase in revenues (possibly closed loopholes) or reduction in other types of spending (say, reduced farm subsidies). The reports on retail sales and industrial production have some market-moving potential, but seasonal adjustment could exaggerate what would otherwise be minor shifts in the data. [Read more]
Scott Dunaway joins Clarksville Chiropractic Center
Clarksville, TN – Clarksville Chiropractic Center located at 1636 Madison Street announces the addition of a new chiropractor.
Dr. Scott D. Dunaway is now available to see patients, effective February 4th. Dunaway graduated cum laude from the Logan College of Chiropractic in December 2012. His bachelor’s degree comes from Southeast Missouri State University in Cape Girardeau.
“My education has equipped me with techniques to treat all different body types from infants to the elderly,” he said.
Dr. Scott Dunaway has joined Clarksville Chiropractic Center as a new chiropractor.
