Local Biz Briefs, May 18, 2007
May 17, 2007 at 11:51 AM
Stocks fall, putting big rally on hold
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NEW YORK - Wall Street retreated modestly in wobbly trading Thursday, with investors putting their buying spree on hold to mull over mixed economic data. The Dow fell 10.81, or 0.08 percent, to 13,476.72, after rising as high as 13,516.71. On Wednesday, the index reached its 23rd record close of the year. Broader indexes also declined. The Standard & Poor's 500 index lost 1.39, or 0.09 percent, to 1,512.75, and the Nasdaq composite index fell 8.04, or 0.32 percent, to 2,539.38. Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 2.79 billion shares, down from 2.82 billion Wednesday. The Russell 2000 index of smaller companies fell 4.56, or 0.56 percent, to 815.64.
Tenn. predicts job growth through 2008
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NASHVILLE - Tennesseans will find significant job opportunities through 2007 and 2008, according to recently completed employment projections by the Tennessee Department of Labor and Workforce Development. According to recent research, short-term projections of employment in Tennessee show a 1.2 percent average annual increase, translating into an expected increase of about 75,900 jobs in a two-year period. "According to our research, there are job gains in the administrative, managerial and transportation industries. The vibrant food, entertainment and health care industries provide personal services for our growing and aging population," Commissioner of Labor and Workforce Development James Neeley said. "These short-term job data show the effect of the contemporary business cycle on long-term trends." Occupations projected to have very strong growth rates are computers and mathematical; building, grounds cleaning and maintenance; community and social services; health care support occupations; food preparation and serving; business and financial operations; and health care practitioners and technical. Other expanding occupational groups include legal; arts, design and entertainment; education, training and library; farming, fishing and forestry; and management occupations.
King shareholders choose board members
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BRISTOL, Tenn. - King Pharmaceuticals Inc. on Thursday reported results of its annual shareholders meeting held in Cary, N.C. At the meeting, shareholders elected Philip A. Incarnati and re-elected Gregory D. Jordan and Brian A. Markison, the company's president and chief executive officer, to serve on the board of directors until the company's 2010 annual meeting. Markison became chairman of the board following the meeting in accordance with the board's previously announced plan, succeeding Ted G. Wood, who will continue to serve on the board as its lead independent director. Shareholders also approved the company's proposal to declassify the board of directors, requiring the directors to stand for election annually, following the expiration of their current terms. In addition, the shareholders ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending Dec 31, 2007. King, headquartered in Bristol, is a vertically integrated branded pharmaceutical company.
Food City produce manager honored
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BLOUNTVILLE - The United Fresh Produce Association recently honored the winners of its 2007 Retail Produce Manager Award at it annual Fresh Marketplace Reception and Retail Awards Banquet in Chicago. Cay McConnell of K-VA-T's Food City store in Blountville was among those to receive the award. The winners were recognized for their outstanding efforts to increase produce consumption through everyday excellence in merchandising, special displays and promotions; community service; and commitment to total customer satisfaction. McConnell was recognized for her creative racing theme displays and promotions to help welcome race fans who travel here for events at Bristol Motor Speedway. She also was recognized for promoting "5-A-Day" messages during store tours and outreach programs in the community. She works with the Sullivan County Health Department to promote healthy eating habits and promoted fruit and vegetables as part of a healthy diet at the YMCA's Healthy Kids Day promotion. She also provides healthy snacks to the local Upward Basketball/Cheerleading program and elementary school. All winners and their corporate produce directors received complimentary registration, travel and hotel accommodations to the Fresh Marketplace show.