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Private Company Sales Continue to Grow, GDP Expected to Follow, But What about Unemployment?
April 26, 2012–According to data released today by Sageworks, privately held companies in the United States saw average sales growth of 8.3 percent in the 12-month period ending in April 2012. That’s up slightly from the 2011 growth rate of around 8.2 percent, and up significantly from the low in 2009, when sales declined by an average of almost 6 percent. Since private companies drive over 50 percent of GDP, the increase in average revenue growth bodes well for the first quarter real GDP estimate being released tomorrow.
Financial Metric 2007 2008 2009 2010 2011 Last 12 Months
Private Company Sales Growth* 6.15% 3.60% -5.75% 4.76% 8.19% 8.29%
U.S. Real GDP Growth 1.90% -0.30% -3.50% 3.00% 1.70% n/a
*Source: Sageworks, a financial information company
While private company sales and U.S. GDP have been growing consecutively for over two years, another important economic indicator, the national unemployment rate, now at 8.2 percent, has not improved at a similar rate.
Brian Hamilton, CEO of Sageworks and a noted expert on privately held companies explained, “In reviewing the numbers, the fear now is that we may be running out of runway before the onset of another recession. We will not be surprised to see continued growth in GDP given the fact that privately held companies continue to grow at a healthy rate. However, what is becoming slightly concerning is that the unemployment rate is not decreasing at a fast enough rate. In general, if you look over a long period of time, the average expansionary cycle is approximately 4 years and the average recessionary period is one year. Historically, it has taken approximately 12 to 20 months for unemployment to fall in an expansion to roughly pre-recession levels. Right now, we are into the 34th month of the recovery, and, yet, unemployment remains too high. If we don’t get employment up, we may be bumping into the next recession, during which time we cannot expect job growth.”
April 30th, 2012 | Posted in BUSINESS | Read More »
Merrillville, Ind.- White Lodging Services is pleased to announce the Residence Inn Indianapolis Downtown on the Canal has undergone a complete renovation of its 134 suites and public spaces, transforming it into an upscale hotel, designed to enhance the comfort and lifestyle of travelers on the road today. The newly refreshed hotel, owned by RLJ Lodging Trust and located at 350 W. New York St., offers guests flexible spaces and amenities to help maintain a healthy balance and routine while traveling.
April 17th, 2012 | Posted in BUSINESS,TOURISM | Read More »
Barnes & Thornburg announced today that the firm represented multiple Grammy- and Oscar-winning music producer, T Bone Burnett, in connection with two recent high-profile projects: Lionsgate’s engagement of Burnett to provide executive music producer services for the film The Hunger Games and to produce its companion album The Hunger Games: Soundtrack, Songs from District 12 and Beyond, and Elton John’s hiring of Burnett to produce John’s forthcoming studio album, The Diving Board.
Sidney S. Fohrman, a Los Angeles-based Barnes & Thornburg attorney and member of the firm’s Entertainment and Music Practice Group, represented T Bone Burnett in the negotiation of these deals.
Jason Karlov, national chair of the Barnes & Thornburg Entertainment and Music Practice Group, said that “Sid’s knowledge and experience in negotiating music and entertainment deals is integral to Barnes & Thornburg’s ability to represent such legendary names in the industry such as T Bone Burnett, and to the continued growth of the Barnes & Thornburg entertainment and music practice.”
April 16th, 2012 | Posted in ARTS,BUSINESS,Calendar,LAW | Read More »
FREDERICK, Md.–(BUSINESS WIRE)–GEORGE MASON MORTGAGE, a Subsidiary of Cardinal Bank (NASDAQ: CFNL) is pleased to announce the relocation and expansion of its Frederick, MD mortgage office.
“We are excited to expand our lending area into Frederick County”
Residents of Frederick County, with a proven track record, Tom McLister, Branch Manager, and Darren Chamblee, Asst. Branch Manager, each bring over 22 years of mortgage lending experience to this new office, located at 5235 Westview Drive, Suite 102, Frederick, Maryland 21703. George Mason Mortgage stands tall amongst our peers with an unwavering commitment to customer service.
April 16th, 2012 | Posted in BUSINESS,PEOPLE | Read More »
HOUSTON–(BUSINESS WIRE)–American General Life Companies (American General) has named John Deremo Executive Vice President and Chief Distribution Officer. He joins American General from Protective Life Corporation, where he served as Senior Vice President and Chief Distribution Officer.
March 27th, 2012 | Posted in BUSINESS,PEOPLE | Read More »
NEW YORK–(BUSINESS WIRE)–Today, Macy’s (NYSE:M) Culinary Council welcomes chef Johnny Iuzzini to its elite roster of culinary superstars. One of the nation’s most celebrated and innovative pastry chefs, Iuzzini will join notable talents including Emeril Lagasse, Cat Cora, Wolfgang Puck and Marcus Samuelsson on this distinguished team. With accolades including the James Beard Foundation’s award for “Pastry Chef of the Year” and a position as head judge for Top Chef Just Desserts, Iuzzini is a fitting addition to Macy’s Culinary Council’s exclusive ranks.
March 27th, 2012 | Posted in BUSINESS,TOURISM | Read More »
“Communism and other statist ideologies are evil, but it’s also worth noting that most of the worst examples of environmental degradation occur in societies with heavy government control, not wealthy capitalist nations”- Dan Mitchell
March 22nd, 2012 | Posted in BUSINESS,video | Read More »
LOS ANGELES–(BUSINESS WIRE)–Carole King will be celebrated as a BMI Icon at the 60th annual BMI Pop Awards on Tuesday, May 15 at Los Angeles’ Beverly Wilshire Hotel.
March 22nd, 2012 | Posted in ARTS,BUSINESS,PEOPLE | Read More »
WESTERLY, R.I.–(BUSINESS WIRE)–Washington Trust announced today that it has opened The Washington Trust Home Loan Center, a mortgage loan production office located at 171 Service Avenue, just off Route 95 in Warwick, Rhode Island. The office is managed by longtime Rhode Island mortgage professional Al Grant and his team of experienced mortgage specialists. Mortgage loan processing and underwriting is done on-site allowing for fast, efficient mortgage processing.
March 21st, 2012 | Posted in BUSINESS,Finance | Read More »
Fuel in a Bottle Power Shots Power Up with AJ Allmendinger
NASCAR Racer Likes to Recharge in Minutes, Run Stronger For Hours
CHARLOTTE, N.C.–(BUSINESS WIRE)–Long known for his high-energy style, Penske Racing NASCAR Sprint Cup driver AJ Allmendinger has been named as Brand Ambassador for a new brand of Energy and Protein power shots, Fuel in a Bottle ™. In addition to benefiting from the energy and protein boost that Fuel in a Bottle power shots provide, Allmendinger will be part of the brand’s marketing efforts through advertising and point of purchase placements.
“We are excited about Fuel in a Bottle power shots because they offer TWO different types of high-quality fuel people are looking for, at a price they can afford”
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“Everybody knows that no matter what I am doing–driving, training, or even just talking–I bring a little bit of extra energy to it!” said Allmendinger, who will be keeping up a regular schedule of media appearances during the 2012 NASCAR season. “I know that keeping up my intense workout regimen can be the key to success. So it’s pretty much a natural thing for me to team up with Fuel in a Bottle, and I am excited to be part of this campaign. Between the races, training, and all the travel that make up the NASCAR season, I am glad to have Fuel in a Bottle power shots in my back pocket to count on this year.”
“AJ’s high-energy is something people can really identify with and he will be a great asset for our Fuel in a Bottle power shots,” said BYB Brands President Norm George.
Fuel in a Bottle power shots are the only ready-to-drink shots that offer two types of fuel consumers need for their day — Energy and Protein. Fuel in a Bottle Energy shot provides a quick energy boost in convenient 2-ounce liquid form. It is packed with B Vitamins, is sugar free and has zero calories. Fuel in a Bottle Protein shot is loaded with 25g of high quality protein and essential amino acids that your body needs — in a 2.5 ounce power shot — eliminating the hassle of messy protein powders or shakes. Both varieties of Fuel in a Bottle allow consumers to ‘Recharge in minutes. Run stronger for hours.’™
“We are excited about Fuel in a Bottle power shots because they offer TWO different types of high-quality fuel people are looking for, at a price they can afford,” says George.
Fuel in a Bottle Energy and Fuel in a Bottle Protein are now available throughout the Southeastern United States. They can be purchased in convenience retail stores, health-food stores, and other specialty retail outlets. Fuel in a Bottle power shots are the latest products rolled out by BYB Brands. The company’s other beverages include Tum-E Yummies Fruit Flavored Drinks, Country Breeze Tea and Bean & Body Coffee.
March 21st, 2012 | Posted in BUSINESS,SOCIAL,SPORTS | Read More »
