Birmingham's SRI plans facility for drug discovery

BBVA Compass economist recognized as one of most accurate forecasters
 

Published: Friday, February 11, 2011, 7:30 AM

By Russell Hubbard -- The Birmingham News

BBVA Compass' top economist has been recognized by Bloomberg News as one of the most accurate forecasters of U.S. economic trends.

Nathaniel Karp was named the top forecaster of 10-year U.S. Treasury yields by financial data and news outlet Bloomberg, which also named him the third-best predictor of U.S. non-farm payrolls.

Both are key economic benchmarks widely followed by lenders, business owners and government bureaus.

Karp had the smallest average difference in his prediction for Treasury yields and the actual number, from a universe of hundreds of economists polled by Bloomberg starting in 2007.

For non-farm payrolls, Karp had an average monthly error in 2010 of about 56,000 jobs, only about 2,000 behind the leader, David Resler, of New York-based Nomura Securities. About 50 economists were rated by Bloomberg for 2010 non-farm payrolls.

"We are very happy with it," Karp said. "We participate in many surveys, but Bloomberg is the one that attracts the most economists."

Karp said he works with five other economists, who pore over reams of information to make their predictions. For non-farm payrolls, he said, the key is understanding if businesses are hiring, staying put, or cutting jobs.

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Birmingham News 

Baldwin County chambers of commerce discuss merger
 

Published: Friday, February 11, 2011, 6:35 AM Updated: Friday, February 11, 2011, 11:05 AM

By Guy Busby Press-Register

FOLEY, Alabama -- Months of members and employees working together in the wake of the Deepwater Horizon oil spill have led to renewed discussions of merging south Baldwin County's two chambers of commerce.

The boards of directors of the Alabama Gulf Coast Area Chamber of Commerce and

Joe McCarron is chairman of the Alabama Gulf Coast Area Chamber of Commerce. (File photo)

South Baldwin Chamber of Commerce sent letters to members this week asking their opinions on merging the two organizations.

The Alabama Gulf Coast Area Chamber of Commerce serves the Orange Beach, Gulf Shores and Fort Morgan areas. The South Baldwin Chamber serves Foley, Elberta, Summerdale, Magnolia Springs and the surrounding areas.

Chamber officials had proposed merging the two organizations in 2009. Surveys of members at that time found that while most respondents supported the merger, the majority was not large enough to justify the move, according to reports at the time.

After more than nine months of joint efforts to deal with the economic effects of the oil spill, officials feel that situation may have changed, Donna Watts, South Baldwin Chamber president, said.

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