Tuesday, May 5, 2009

Daily Briefing, 5/5/2009

Good morning everyone! Here is today's Daily Briefing.

Good news in the local economy - Lehigh Valley Housing prices appear to be leveling off. However, it will still take a few years for prices to start rising again, largely due to an overabundance of available housing. The Morning Call has debuted a new layout - this comes on the heels of a 50 person layoff. With the Sands Bethlehem opening up in a matter of weeks, Northampton Community College is offering classes in casinos. The opening of the Sands, earlier than originally expected, will also mean extra money for local governments.

In state-wide news, the first poll to come out after Senator Specter's defection to the Democratic party shows him crushing Pat Toomey, 53-33%. The numbers against former Governor and Secretary of Homeland Security are much closer, with Specter squeaking by at 46-43%. This could get VERY interesting.

In national news, the results of a stress test on the top 19 U.S. banks are expected to show that 10 need to boost capital in order to weather potentially tougher times. However, that money won't come from the federal government, as the White House has stated that they will not ask for additional bailout money for U.S. banks.

Business Matters aired yesterday, and the topic was a good one - the relevance and importance of the recent tea party protests. You can watch the show online later today, and make sure to check out the Business Matters blog to participate in the debate.

Today is a very busy day at The Chamber, as we have four events: a Roundtable Discussion with Jim Miller, President & CEO of PPL, a Greater Northern Chamber of Commerce Lunch featuring municipal updates, a Phillipsburg Mayoral luncheon with the Phillipsburg Area Chamber of Commerce and a ribbon cutting at European Body Concepts in East Texas.

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