Economic reports have continued to show modest improvements in the economy. Better-than-expected manufacturing numbers and a surprise increase in housing starts appeared to boost market sentiment last week. Read more now.
Weekly Market Summary – 10/19/2011
Equity markets surged higher last week, led by technology and small-cap stocks. The S&P 500 gained 6.01 percent.
While the S&P 500 is still slightly in the red, both the Nasdaq and Dow Jones Industrial Average are back in positive territory for the year-to-date period. International indices and smaller-cap stocks have a larger hole to dig out of before they get close to breaking even. Read more now.
Weekly Market Summary – 10/11/11
Look for the release of the Federal Open Market Committee (FOMC) minutes on Oct. 12 to help give us a sense of the Federal Reserve’s intentions and its assessment of the economic outlook.
Treasuries sold off last week on better-than-expected economic numbers and more positive news coming out of Europe earlier in the week. Read more now.
Penobscot Bay Regional Chamber of Commerce Non Profit Seminar Series
A challenging economy. A competitive funding environment. It is now more important than ever for non-profit organizations to equip themselves with the tools needed to capture attention, support and donations in order to carry out their mission.
The Penobscot Bay Regional Chamber is excited to offer a new, free seminar series designed to tackle five big issues in the non-profit world: raising unrestricted funds from the business community and individuals; collaboration between organizations; board development; generating press and PR; and staging truly special events.
The seminars will be offered the second Wednesday of the month (starting Oct. 12) from 9:15 to 10:45 a.m. at the Rockland Public Library. They are open to all and will be free to attend (although a suggested donation of $5 per person to defray costs would be greatly appreciated by the Chamber, a fellow non-profit).
More information is available on the Pen Bay chamber website.
Announcing a Scholarship at Unity College Focused on Service and Sustainability
From left, Joe Galli, Unity College director of annual giving;
Shayne Van Leer ’13 and
Richard Crossman and Sherree Craig of Allen Insurance and Financial.
In keeping with the company’s focus on community and service to Maine’s future, Allen Insurance and Financial of Camden, Rockland and Southwest Harbor announce the creation of an annual scholarship at Unity College.
Each year, a $2,000 scholarship will be awarded to a Unity College student studying in the Center for Sustainability and Global Change. The first recipient of this scholarship is Shayne Van Leer ’13 majoring in Agriculture, Food and Sustainability.
“We are excited to be a part of Unity College’s mission in preparing young people for 21st century environmental issues,” said Gilbert Fifield, president of Allen Insurance and Financial. “Unity College is a tremendous asset to the region. The education provided to the environmental leaders of tomorrow affects us all and we want to do our part by supporting their ongoing efforts with this scholarship. We are proud to support students with a passion for community and sustainability.”
Joe Galli, director of Unity’s Annual Fund, recognizes the strength in partnerships with Maine businesses. “Collaboration between educators and businesses with similar goals in supporting education and the environment are crucial to the success of those directly involved. This relationship is an outstanding example of community leadership, commitment and social responsibility.”
“Allen Insurance and Financial andUnity College share a strong commitment to sustainability and education,” said Galli. “Maine’s vibrant agricultural sector is a strength for the state. Shayne exemplifies the future of agriculture and a sustainable lifestyle through the work he is and will be doing. The future of the way we eat and live rests in the hands of students like Shayne. Allen Insurance and Financial recognizes the need for people to be educated in the sustainability fields who will go on to improve our agricultural practices which in turn improves the food we all eat. Students like Shayne will make a difference.”
Unity College is a small private college in rural Maine that provides dedicated, engaged students with a liberal arts education which emphasizes the environment and natural resources. Unity College graduates are prepared to be environmental stewards, effective leaders, and responsible citizens through active learning experiences within a supportive community.
In 2011,Unity College was named to the top 30 of the Washington Monthly college rankings, and was one of 18 U.S. colleges and universities named to The Princeton Review’s 2010 Green Rating Honor Roll.
Weekly Market Summary – 10/5/11
Equity markets moved slightly lower this week. Although the S&P 500Index (S&P 500) lost only 41 basis points (bps), there was significant intraday volatility and the VIX spent most of the week above 40.
Although there was not a lot of action last week, it did close out one of the worst quarters for equities, as the S&P 500 lost 14.3 percent. Read more now.
Weekly Market Summary – 9/28/11
Last week’s Federal Open Market Committee announcement that it would use the ‘twist’ approach by selling short-term Treasuries (duration of 3 years or less) and purchasing long-term Treasuries (duration of 6 years to 30 years) had an immediate impact on the yield curve.
The 10-year shot down to new record lows—below 1.76 percent—and the 30-year, which had the largest move, stood at about 2.87 percent, down from 3.15 percent a day earlier.
Weekly Market Summary – 9/21/11
The Federal Reserve may implement a “twist” strategy, selling short-term securities that make up the majority of its balance sheet and purchasing longer-dated securities, in an attempt to lower longer-dated rates. The move could be made public at this week’s Fed meetings.
Anticipation of some sort of action from the Fed sent equity prices higher last week. The S&P 500 gained 5.4 percent.
Read more now.
Note to Our Clients During the Construction in Rockland
Downtown Rockland will be under construction for the next eight weeks or so … and this will impact parking and traffic patterns downtown. In particular,School Street, location of our Rockland office, will see traffic moving in the opposite direction of usual when Limerock Street is closed. Parking downtown may also be challenging.
We want everyone to know that ourRockland office will remain open as usual – 8 a.m. to 4:30 p.m., Monday through Friday – during construction.
If you need to do business with us (make a payment or meet with an insurance specialist), but feel the traffic or parking is too challenging, please don’t hesitate to call our office to make other arrangements. We will be glad to help you any way we can.
For more information about the Rockland Big Dig Sewer Project, visit the city’s website: http://www.ci.rockland.me.us/
Please call us at 800-439-4311.
Proud to Support the Rockland Public Library Endowment Association
The Rockland Public Library Endowment Association is celebrating its 10th anniversary this year and continues to raise money in the community for the library endowment to help continue to share the library’s creativeness and usefulness with the public. In this photo, Joanne Billington, the business insurance specialist from Allen Insurance and Financial who works with the library, is presenting a donation to the endowment to Paul Spizzuoco, president of the Rockland Public Library Endowment Association.
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