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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 19, 2003
Page
9
Sharon Perkinson, owner of Tis the Seasons, declares the start of a new season and looks forward to fresh stock and events. She notes renewed energy, upcoming promotions, and plans to engage customers with seasonal displays.
Southwest Virginia Community College in Richlands Va will offer a real estate abstracting class on Wednesday evenings at 6 during the spring 2003 semester. For more information call the Business Division at 276 964 7277 between 8 a.m. and 4 30 p.m.
The Virginia Department of Business Assistance launched a toll free line 1-866-248-8814 to help businesses outside the Richmond area. It complements the DBA website and forms the Virginia Business Information Center offering free access to resources for all state firms.
Bluefield area shops announce closings, citing personal reasons and changing seasons. Empire Jewelers owner Cathy Sturgill will close February 14 after 12 years, with 75 percent off gold and diamonds and 50 percent off books. AAA Tuxedo and Bridal Shop owner April Matney also closes for personal reasons, discounting gowns 30 percent and tuxedos from 49.95. Tis the Seasons in Bluefield plans a liquidation sale through February 28 with 20 percent off store merchandise and 60 percent off Christmas items.
The Labor Department reports since 2001 over 2.3 million private payroll jobs vanished, led by factory job cuts. December saw 65,000 factory jobs lost, a 29th straight monthly decline, leaving manufacturing at 16.5 million. Unemployment stands at 6 percent with 8.6 million jobless.
Anne Crowe of Bluefield's Smith Barney says earnings growth and fear of market risk are battling to define whether 2003 will be bear or bull. She notes Q4 earnings could lift markets, but bonds look unattractive as rates likely rise. Crowe contrasts today with 1929-32, citing low rates, inflation, productivity, and 6 percent unemployment.
West Virginia Chamber president Steve Roberts addressed the Princeton Mercer County Chamber luncheon about the 2003 legislative session. He warned the Workers Compensation fund will go broke by mid 2004 unless immediate action is taken, citing costs rising far above the national average.
Congress eyes mutual fund fees and transparency. House Financial Services chair Michael Oxley urges GAO study on fee trends and disclosures, stressing investors need clear information. Bankers and analysts note billions in annual fund costs, with many Americans relying on funds for retirement goals.
The IRS urges taxpayers to file online via wwwirs.gov to access free e filing options and track refunds. Last year a record 47 million returns were filed online, with refunds possibly in 10 days when using direct deposit. The site offers 24 7 access and updates on 2002 tax changes for businesses.
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