Thursday, February 17, 2011

Daily Briefing, 2/17/2010

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

Bookstore chain Borders is declaring bankruptcy and closing 30%, or 200, of its stores - including its store in Whitehall.  Democrat Ed Koren has announced that he will be running for District Attorney, the first time that Republican Jim Martin has had an opponent in 12 years.  In Bangor, the School District may be forced to limit the size of its tax increase due to state law.  In Allentown, initial totals on overtime and personnel show that the explosion cost the city $61,000 - UGI has already paid $50,000 and has said it will pay more as costs rise.

By 2018, interest payments on the national debt will cost more than Medicare spending.  Bad news for consumers: increasing world inflation will likely hit the US soon, driving up the prices of household items.

We have two Chamber events today:  a State of the City address by Mayor Callahan in Bethlehem and a Social Networking Training seminar.

That's it for now!  We should be back later - see you soon!

1 comment:

Jon Geeting said...

I think it's important to distinguish between core inflation and nominal inflation caused by rising commodity prices. People who are deleveraging could really use an increase in core inflation.