Local business news in brief
Feb 14, 2007 at 10:00 AM
Koyo, Nakatetsu reps visit Northeast State
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BLOUNTVILLE - The two newest residents of the Washington County Industrial Park are looking to Northeast State Technical Community College to assist building an applicant pool for their future work force needs. Corporate officials of Koyo USA and Nakatetsu Company Ltd., and P.C. Snapp, executive director of the Johnson City/Jonesborough/Washington County Economic Development Board, recently met with Northeast State representatives to discuss skilled worker needs at their new manufacturing plants in the industrial park located outside Jonesborough. "I was honored and pleased that representatives from Koyo USA and Nakatetsu Machining Technologies have selected Northeast State to be their primary provider of training for their future work force," said Northeast State President Bill Locke. Koyo Corp. of USA has partnered with Nakatetsu in a joint venture, Nakatetsu Machining Technologies, to build two manufacturing facilities. Both plants will be located in the Washington County Industrial Park. The new plants will bring approximately 150 jobs to the area consisting primarily of machining, grinding, assembly, skilled trades and professional positions. "The skill sets Koyo needs range from machinists, electrical technology specialists and CNC operators to accounting personnel and quality control engineers," said Michael Bledsoe, dean of technical education at Northeast State. "Our task is to identify and build a pool of applicants so they can start these processes with a prepared work force."
ETSU students outperform Standard & Poor
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JOHNSON CITY - Students in the East Tennessee State University College of Business and Technology, under the guidance of Joe Mason, associate professor of finance, have participated in the Tennessee Valley Authority Investment Challenge for eight years. The ETSU students had an exceptional showing in 2006, outperforming the Standard & Poor's 500 Index with a showing of 17.96 percent compared to 15.79 percent for the index. The ETSU student-managed portfolio placed second among the 25 participating universities and was one of only four portfolios beating the S&P Index. In terms of monetary increase, the ETSU portfolio saw a market value increase of over $108,000 for the calendar year. In 1998, each of the original 19 participating universities commenced overseeing a $100,000 portfolio, devising long-term strategies, managing funds and submitting performance reports to TVA. Due to the success of the program, TVA added six more participating universities in 2003 and provided an additional $300,000 of funding to each school. The current value of the ETSU student-managed portfolio is over $734,000. "This student-managed portfolio provides our finance students with a valuable real world application of the analyzing, managing and trading strategies needed for a successful journey into the financial world. TVA's involvement in this project shows their commitment to ETSU and our AACSB accredited programs," said Mason.
Legislative luncheon set for Friday
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JOHNSON CITY - The Tri-City National Association of Insurance and Financial Advisors will hold its annual legislative luncheon at 11:30 a.m. Friday at the Johnson City Public Library. The annual event allows members from the four Tri-City associations to come together and listen to industry changes and pending legislation that affects the insurance and financial industry.