NEW YORK - Wall Street stumbled Wednesday, pulling the Dow Jones industrials down nearly 90 points after minutes from the Federal Reserve's most recent meeting indicated the central bank is not ruling out an interest rate hike to curb inflation. The minutes, coupled with a jump in gasoline prices, heightened investor worries about inflation and drove an already sagging stock market even lower. The Dow fell 89.23, or 0.71 percent, to 12,484.62, after dropping 118 points earlier in the session. The Standard & Poor's 500 index slid 9.52, or 0.66 percent, to 1,438.87, and the Nasdaq composite index fell 18.30, or 0.74 percent, to 2,459.31. The yield on the benchmark 10-year Treasury note rose to 4.74 percent from 4.72 percent late Tuesday. The dollar was higher against the euro and the yen, while gold prices were unchanged. Crude oil prices rose 12 cents to $62.01 a barrel on the New York Mercantile Exchange, while gasoline futures rose more than 3 cents to $2.1587 a gallon, an eight-month high. Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.91 billion shares, up from 2.49 billion Tuesday. The Russell 2000 index of smaller companies fell 6.27, or 0.77 percent, to 808.24.
Johnson City makes Forbes Magazine list
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JOHNSON CITY - Johnson City has been ranked 10th out of 179 small metropolitan areas in Forbes Magazine's "Best Places for Business and Careers." News of the ranking appears in Forbes' April 5 online edition. Forbes used data from an economic research firm to rank metro areas in job growth and cost of doing business, while a different researcher ranked educational attainment and also factored in quality-of-life issues such as crime rate and cultural opportunities. Johnson City ranked ninth last year. This year's 10th-place finish came on the basis of ranking 30th in cost of doing business, 40th in job growth and 89th in educational attainment. An East Tennessee State University labor economist said Johnson City's repeat recognition in Forbes "sends a clear signal to businesses and individuals seeking a desirable place to do business and live." Al Spritzer, who holds ETSU's Allan and Ruth Harris Chair of Excellence in Business, called Forbes a highly regarded source of business trends and potential for investors around the country and internationally. He said Johnson City and the region at large have established a vision and worked successfully toward achieving it. Johnson City was the only Southern city to make the top 10, which was dominated by Northern Plains locales including Sioux Falls and Rapid City, S.D., Bismarck and Fargo, N.D., and Iowa City, Iowa. Morristown ranked 95th.
JCMC among Top 10 Healing Hospitals
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JOHNSON CITY - After three years of following a philosophy of patient-centered care, Johnson City Medical Center recently was named one of America's Top 10 Healing Hospitals by the Baptist Healing Trust, an independent organization that evaluates hospitals on how they incorporate "radical loving care" into their organizations. "The Healing Hospital designation cannot be applied for and is awarded by the trust based on information which we believe reliably demonstrates a deep commitment by leadership to patient-centered care," said Erie Chapman, president and CEO of the trust. "Only a tiny fraction of America's hospitals have chosen to make this level of commitment, and we congratulate JCMC on its achievement of the HH designation." JCMC was the only hospital in Tennessee to win this designation. The winning hospitals were listed in the March edition of the Journal of Sacred Work. "For several years now, we have focused on making the patient the center of their care at JCMC and all Mountain States Health Alliance facilities," said Dennis Vonderfecht, president and CEO of MSHA, the parent company of JCMC. "We follow the belief that healing can occur without curing, but healing can't occur without caring."
ETSU professor explores Reconstruction
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JOHNSON CITY - Andrew Slap, an assistant professor in East Tennessee State University's Department of History, has completed his book, "The Doom of Reconstruction: The Liberal Republicans in the Civil War Era," published by Fordham University Press. In his study, Slap addresses: How and why did Reconstruction come to an end? Slap came to ETSU in 2003. Prior to that, he was a lecturer at the Pennsylvania State University campuses in University Park and in Harrisburg, as well as at Lycoming College. Slap earned a bachelor's degree in history at the University of Massachusetts in Amherst and a doctorate from Pennsylvania State University in University Park.