- Global Business Confidence -28.1%
- Businesses remain darkly pessimistic across the
globe. Sentiment hit a new record low in Asia last
week and is close to record lows everywhere else.
Hiring intentions have taken a decided turn for the
worse in recent weeks and suggest that there has
been no letup in the massive global layoffs and rising
unemployment in March. Pricing also remains very
weak as close to one-third of businesses now say
they are cutting prices for their goods and services.
Confidence is very poor across all industries,
particularly in manufacturing, where it has never been
- International Trade (FT900) -$36.0 b
- The U.S. trade deficit narrowed to $36 billion in
January. Moody's Economy.com had expected a
slightly greater narrowing to $35.2 billion. This marks
the sixth straight month of declining gross exports and
gross imports and the sixth straight month of
narrowing trade deficits.
- Import and Export Prices -0.2%
- The decline in import prices is moderating. Import
prices fell 0.2% in February, following January's
revised -1.2% (previously -1.1%). The decline was on
par with expectations and puts import prices down
12.8% on a year-ago basis. Export prices fell 0.1%
after posting a 0.5% increase the previous month.
With large declines in energy prices likely behind us,
import prices should begin to level off. Some import
price inflation is welcome, as the Federal Reserve is
attempting to steer the economy away from
- Current Account -$132.8 b
- The U.S. current account deficit narrowed by
26.8% to $132.8 billion in the fourth quarter of 2008,
compared with the revised third quarter deficit of
$181.3 billion. Moody's Economy.com had expected a
smaller narrowing of $137.4 billion. The deficit on
goods narrowed to $174.1 billion, while the surplus
on services narrowed to $33.7 billion
- The Conference Board Leading
- The Conference Board index of leading indicators
declined 0.4% in February. The decline was less than
expected because of downward revisions to both
December and January. The decline in the index was
led by a plunge in stock prices and consumer
confidence. Real GDP is expected to decline 5.5% at
an annual rate in the first quarter but the economy
should begin to expand sometime late this year
- Consumer Price Index +0.4%
- The top-line urban consumer price index
increased by 0.4% from January to February, and
increased by 0.1% from February 2008. The core
urban CPI increased by 0.2% in February compared
with the previous month, with the seasonally adjusted
value up by 1.8% compared with one year ago.
Inflation remains very low amid subdued economic
activity, though it continues to avoid negative
- Jobless Claims -12 K
- Initial jobless claims declined 12,000 to 646,000
for the week ending March 14. Despite the unexpected
decline, the four-week moving average rose to
654,750 from 651,000 the previous week. Continuing
claims increased 185,000 to reach 5.473 million for
the week ending March 7. Although the modest
decline in initial claims is encouraging, the labor
market remains in disarray
- New Residential Construction (C20) +22%
- Housing starts were up surprisingly strongly in
February, rising by 22% from January to 583,000
annualized units. The volatile multifamily market is
driving the magnitude of February's gain. The housing
market may be thawing, but this month's gain only
brings the pace of total starts back up to that of
December. Activity remains quite soft. The
Homeownership Affordability Plan gives hope that the
market may slowly heal.
- MBA Mortgage Applications Survey +21.2%
- In the week ending March 6, the MBA market index
increased 21.2% to 876.9, the second week of a
double percentage-point increase. Similarly, both
parts of the composite also increased. The refinance
index increased 29.6% this week, finishing at 4,497.6.
The purchase index ended at 257.1, up 1.5%.
- Chain Store Sales -0.1%
- Chain store sales fell 0.1% in the week ending
March 14, the second consecutive week with little
change in sales. However, the year-ago decline
worsened to 1.4%, the largest decline in five weeks.
The bottom line remains falling same-store sales, a
sign of restrained spending.
- Oil and Gas Inventories +353.3 mb
- Crude oil inventories rose by 2 million barrels
during the week ending March 13, according to the
Energy Information Administration, above expectations
of a 1.5 million barrel buildup. Gasoline inventories
rose by 3.2 million barrels, far exceeding the
consensus estimate of a decline of 1.5 million
barrels. Distillate inventories rose by 100,000 barrels,
less than expected. Refinery operating capacity fell to
82.1% from 82.7%. Total domestic petroleum demand
fell. This report will cause oil prices to fall.
- Weekly Natural Gas Storage Report -30
- Working gas in underground storage decreased
by 30 billion cubic feet during the week ending March
13. The consensus estimate was for a decline of 28
billion cubic feet.
Public Policy Initiatives
- MO - Nixon Partners to Expand Health Care for
Uninsured.The Missouri Hospital Association and
Gov. Jay Nixon announced a proposal to expand
health care to almost 35,000 additional uninsured
parents. MHA would contribute an extra $52.5 million a
year from funds Missouri hospitals currently receive
for providing uncompensated care to uninsured
patients. This would enable the state to draw $93
million more in matching federal money, Nixon's office
said. Nixon touted the proposal as one that doesn't
require any additional tax dollars.
- OH - Strickland Supports Transparency, Digital
Accountability.Gov. Ted Strickland supports
moving more information online. "Citizens are the
ultimate decision-makers in a democracy, and it's
difficult for them to make informed decisions without
access to information," he said. Ohio is moving
toward transparency and digital government
accountability by making more public records
available online. Ohioans can go online for
information on highway projects, school test scores,
political contributions, state audits, teacher
certification, disciplinary action against doctors and
lawyers, and other records. http://dispatch.comhtml?
- IA - Culver Launches Economic Recovery
Website.Gov. Chet Culver announces the launch
of Recovery.Iowa.Gov, a website on what the American
Recovery and Reinvestment Act will mean to Iowans.
Iowa is estimated to receive approximately $1.9 billion
in one-time direct assistance from President Obama's
federal economic recovery initiative. "As Governor, I
am committed to making sure our state makes full
use of the federal economic recovery program in order
to benefit all Iowans," said Gov. Culver. "This website
is one tool to help Iowans learn about the benefit of
this important program, track the work underway to
make the best use of these funds, and provide
accountability and transparency about this important
- NJ - Corzine Announces Education Grant
Availability.Gov. Jon Corzine visited Washington
School, one of hundreds of schools throughout the
state that are near or exceed 100 years old. Corzine
plans to upgrade them to not only provide a better
learning environment but also help serve as a job
generator at a time when the construction industry is
seeing massive unemployment rates due to the
downturn in the economy. Corzine used this tour to
announce that more than 130 New Jersey school
districts are eligible to receive approximately $180
million for capital maintenance and construction
projects under the first round of School Development
Authority district grant allocations.
- NH - Lynch Encourages Businesses,
Nonprofits, Communities to Apply for Summer Jobs
Grants.Gov. John Lynch is encouraging New
Hampshire businesses, nonprofits and municipalities
to apply for $2.9 million in youth summer jobs grants
through the American Recovery and Reinvestment Act.
Lynch says the grants will provide opportunities for
many young people, can help communities meet
critical needs - and they're an example of recovery
funds can be used in New Hampshire to create jobs.
THIS WEEKS LEADS:
- Denny's, Inc. trades as Denny's at 1,500 locations
nationwide and internationally.
- The restaurants
occupy spaces of 3,900 sq.ft. to 5,500 sq.ft. in
freestanding locations, power and strip
- Growth opportunities are sought
throughout the Midwestern and northern regions of the
U.S. during the coming 18 months. T
- ypical leases
run 20 years.
- For more information, contact
- Denny's, Inc.,
- Web site:
- Dickey's Barbeque Pit
- Dickey's Barbeque Pit operates 84 locations
throughout CA, CO, MS, NC, NJ, NM, OR, TN, TX and
- The restaurants occupy spaces of 2,000
sq.ft. in endcaps.
- Growth opportunities are sought
nationwide during the coming 18 months.
leases run 10 years with two, five-year
- Preferred demographics include a
population of 50,000 within three miles earning
$70,000 as the average household income.
- For more information, contact
- Dickey's Barbeque Pit,
- 4514 Cole
Avenue, Suite 1100,
- Dallas, TX 75205;
- Web site:
Economic Development Grants from the
Economic Development Assistance American
- POSTED: 3/10/2009
- FUNDING SOURCE: EDA
- ELIGIBILITY: Public agencies (including cities),
CAP agencies, nonprofits, IHEs and Indian tribes
- $ AVAILABLE: $150,000,000
- GRANTS AVAILABLE: N.A.
- MAX GRANT SIZE: N.A.
- DEADLINE: Rolling
- CONTACT INFORMATION:
- DESCRIPTION: Funding to plan and/or implement
a wide variety of economic development projects,
- facilities and infrastructure, in
economically distressed communities.
Public Policy Initiatives
Do malls have a future?
This Weeks Leads
- Place Branding II
- What is it?
- How do we rank?
- How do you build a winning brand?
- Are your
employees "brand ambassadors"?
Last week we presented the following information
on Place Branding:
- Place brandingis not a logo or tag line, but
instead a commitment to a community-wide strategy
to define, articulate and communicate what
distinguishes one community from another.
- Place brandingfocuses on delivering an
exceptional and authentic experience that is
memorable and emotional.
- Place brandingis a decision making tool -
a promise of value to consumers-e.g. a guarantee of
value, of quality, of performance, of service delivery, or
of after-care. to buy a particular product, to access a
specific service, or to travel to a city, region or country
for a holiday or to attend an event, to invest in a
development or to open a factory, built upon
- Place brandingalso reflects the public
policy of a community and must effectively
communicate and create that unique destination
experience to the customer.
- Place brandingis often confused
with "place marketing" which tends to focus on the
promotion of current attractions and the place as a
destination for tourists. By comparison, creating and
managing a place brand strategy involves a rigorous
assessment of how a place operates, the assets it
has, its offer to consumers, its ability to survive and
grow, its ambition and vision for its future and the
resources it has at its disposal to realize that vision,
and the identification of the "on-brand" actions it
needs to take to make a reality of it.
How will you know that your "Place
Brand" is winning?
Your brand's external messages 'ring true' with
both residents and employees.
Your residents and employees are enthusiastic
and consistent in recounting what makes your brand
special and they are proud to be your "brand
Your market share is increasing.
Competitors always mention your brand as a point
Media uses your brand frequently in news stories.
Your Mayor, Commissioner, or Governor has a
strong vision for your organization and your brand. He
or she talks more about that vision than financial
Your Council, Commission, or Legislative leaders
proudly 'talk the brand' and 'walk the brand talk.'
How many of the following are "Winning
Can you name a "Winning Place
- North Salt Lake
Source: Anholt City Brands Index 2007, Matthew
Healey, Graphic Designer, Bob Springmeyer,
Place Branding - Country Rankings
Source: Anholt Country Brands Index 2007
|Utah Economic Snapshot
First Eight Months FY2009 YTD
Utah State Government
- Sales and Use Taxes (Gen Gov't, Higher
-$119.45 m -9.9%
- Individual Income Taxes (Public Education)
-$150.69 m -9.8%
- Corporate Franchise Taxes (Gen Gov't)
-$23.4 m -12.5%
- Motor Fuel Taxes (Transportation) -$119.45 m -
- Severance Taxes (Gen Gov't) +$34.87 m +53.8%
- Sales and Use Taxes (includes food) -6.2%
- Transient Room Tax -10.2%
- Tourism, Recreation, Cultural, Convention -1.9%
- Municipal Telecommunications License +3.5%
- Emergency Services Phone Charge +4.0%
- Public Transit -8.7%
Source: Utah State Tax Commission, TC-23
|The Future is Bright for Good Malls
Future bright for good malls,Simon Property
In spite of the severity of the recession, retail malls
are here to stay, says Simon Property Group CEO
David Simon. "The strong retail will get stronger" in the
future, he said, with poorly managed, designed or
located malls going out of business much more
quickly than in the past.
Source: Knowledge@Wharton, 3/18/09
|SOLVING PROBLEMS - CREATING OPPORTUNITIES
Bonneville Research is a regional consulting firm
focused on consulting services to state and local
governments and private companies seeking winning
strategies and achieving impressive results.
Services include economic analysis for
estate development, public-policy analysis,
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founding in 1976, Bonneville Research has
completed assignments throughout the Intermountain
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public policy analysis and economic analysis.
Helping Clients Succeed
Our services include:
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Analysis and Budgets
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Each of our studies is tailored to address
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Successful client work requires a
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