Equity markets continued their upward trend last week. The S&P 500 gained 43 basis points (0.43 percent) but found itself in the middle of the pack of the broad-based indices listed in the table below. The tech-heavy Nasdaq led domestic indices with a gain of 78 basis points (0.78 percent), but the MSCI EAFE Index was the best performer overall. The MSCI Emerging Markets Index trailed the other indices and was the only one in the red. Read more now.
Mallory Follett Presents to Camden Club About Her Rotary Leadership Experience
Earlier this week Mallory Follett, a commercial insurance processor in our Camden office, gave a presentation to the Camden Rotary Club about her experience with the Rotary Young Leadership Awards program. Says Mallory: “I was very nervous at first, but once I looked up and saw some familiar, and all smiling faces, my nerves were calmed. I felt pretty good about my presentation after all was said and done.”
“RYLA means something different for everyone. For me, RYLA was an eye opening experience that got me out of my comfort zone, and thinking about my role not only in the community, but the world.
“I admit, I was apprehensive at first, but once I arrived and saw all the smiling faces, I knew it would be an unforgettable weekend.
“RYLA helps you to discover your true potential and develop the skills needed to be a positive and effective leader in your community, career, and everyday life.
“Through RYLA I developed stronger teambuilding and leadership skills, as well as self esteem and self confidence.
“I learned that if you establish a goal and take steps towards accomplishing that goal, anything is possible. I also learned that being a leader includes being a follower, a listener, a volunteer, even a friend. I know that I would not be the person and leader I am today if it had not been for my experience at RYLA.
“I can honestly say that I learned more in one weekend at RYLA than I ever expected. I encourage people to become more familiar with RYLA and what it really is. In a world of clichés, we hear the phrase “life-changing experience” far too often, but RYLA really is.”
Weekly Market Summary – 1/8/13
Equity markets shot upward out of the gate last week, largely due to news of an agreement on the tax side of the fiscal
cliff debate. The S&P 500 Index gained 4.58 percent, but small-cap stocks, as measured by the Russell 2000 Index, were
the best performers with a gain of more than 5.5 percent. Read more now.
Learn More About New Law Redefinining ‘Independent Contractor’
A new Maine law clarifies the conditions under which a worker should be classified as an employee or as an independent contractor. It also applies the independent contractor standard uniformly across unemployment, wage and hour, and worker’s compensation laws.
The Maine Contractors and Builders Alliance is holding an informational meeting about the new law on Wednesday, Jan. 16 at 5:30 p.m. at Graffam Brothers Harborside Restaurant in Camden at 5:30 p.m. Call 593-0864 to reserve a spot.
Here is a link to the Maine.gov website about the new law:
http://www.maine.gov/labor/misclass/employment_standard.shtml
Weekly Market Summary – 12/31/2012
Equity markets gave up some ground in the final full week of trading in 2012. Most domestic index losses fell just short of 2
percent. International markets bucked the trend and locked in positive performance, further distancing themselves from domestic
markets for year-to-date performance. Read more now.
Weekly Market Summary – 12/27/2012
Despite a large sell-off on Friday, equity markets posted strong gains heading into the home stretch for 2012. The S&P 500 rose 1.21 percent, while small-cap stocks, measured by the Russell 2000 Index, were the biggest winners, gaining more than 3 percent. The Dow Jones Industrial Average held true to form: it not only lagged on the week but it is behind year-to-date as well. Read more now.
Holiday Hours
Happy Holidays! Our offices will be closed Christmas Eve and Christmas Day, Monday and Tuesday, Dec. 24 and 25 and will reopen Wednesday, Dec. 26, at 8 a.m.
Here is our schedule for the following week:
- New Year’s Eve, Monday, Dec. 31: Closing at noon.
- New Year’s Day, Tuesday, Jan. 1, 2013: Closed.
- Our offices will reopen Wednesday, Jan. 2, 2013 at 8 a.m.
Weekly Market Summary – 12/17/2012
The Federal Reserve (Fed) announced last week that it will continue purchasing $45 billion in longer-term Treasuries on a monthly basis and discontinue selling short-term securities. In addition, the Fed will continue purchasing $40 billion in mortgage-backed securities per month, considerably expanding its balance sheet.
Welcoming Cale Pickford
Cale Pickford
Cale Pickford has joined Allen Insurance and Financial as a personal and commercial insurance specialist. He will be based in the company’s Camden office.
Previously he held a similar position with Atlantic Insurance and Benefits in Belfast.
Cale is a graduate of Mt. View High School in Thorndike and of Hamilton College in Clinton, N.Y. Prior to his insurance industry experience, Pickford worked in the securities industry in New York City and in advertising and sales in both New York and St. Thomas, USVI.
Cale and his wife Marisa decided to raise their family in Midcoast Maine, where he grew up. They live in Lincolnville with their two young children.
He is active with area youth sports and the Belfast Area Chamber of Commerce and he is a member of the board of directors at Peopleplace Cooperative Preschool in Rockport.
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