Tag Archives: credit

Fed report: Regional economy improving, credit still tight

The Federal Reserve’s first Beige Book of 2011 paints a generally optimistic picture of the
PAULSON+MONEY.jpgnational economy.

The economic survey released on Wednesday shows positive trends developed in the final months of 2010 for manufacturing, hiring and consumer spending. The housing market remains troublesome.

That’s the national picture. But let’s take a look at the regional outlook. It’s a little less rosy, but not horrible.

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Controversial speech perfect start for new Forum

Kelly King got the Knoxville Economics Forum off to a rousing start on Friday, even if some of his assertions were a bit of a stretch. The loquacious chairman of BB&T Corp. brought the right mix of commentary, controversy and insight to the first of what I hope will be a long series of talks by distinguished speakers.

King caught some of those in the Forum’s audience off guard by pushing a political agenda. Clearly, anyone who says voters need to eliminate the “fundamentally socialist” attitude that controls Congress, is being politicial.

At first, I was put off by the tone of King’s remarks. But as I thought about his talk over the weekend it occurred to me that his speech was perfect for the Forum’s first event.

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Thanks to Voinovich, lumps of coal for rest of GOP

Struggling East Tennessee businesses should send Ohio Republican Sen. George Voinovich a thank-you note for providing the crucial 60th vote for a bill that will deliver $30 billion in credit and $12 billion in tax breaks to small businesses.

And while they’re at it, business owners should send lumps of coal to Tennessee senators Lamar Alexander and Bob Corker. The Tennessee Republicans have toed the party line and helped hold the much-need bill hostage to filibuster.

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Congress disappoints small business again

Small businesses expecting Congress to do something helpful — like improving the flow of capital to creditworthy entrepreneurs — have been disappointed once again.

709542c8a10cf30cd10e6a706700c508.jpgLegislation that would improve access to capital is snarled in the usual Democrats vs. Republicans politics. We shouldn’t be surprised. Partisan politics rarely brings out the best in our elected leaders.

Bickering over small business legislation will heat up when the fall campaigns crank up after Labor Day.

Will the rhetoric produce results?

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Fitch raises Knoxville’s credit rating

For the second month in a row, the city of Knoxville has gotten good news from one of the major credit rating agencies.

Fitch Rating Service has raised the city’s rating to AAA, the highest rating offered by Fitch. The city’s previous rating was Aa+.

This AAA rating “apparently marks the first time that the City of Knoxville has ever held the highest rating from one of the major bond rating agencies,” according to the press release.

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Fitch raises Tennessee’s credit rating

Fitch Ratings has upgraded Tennessee’s bond credit rating to AAA from AA, Sen. Randy McNally (R- Oak Ridge), chairman of the Senate finance committee, said today.

“This is not an upgrade for Tennessee relative to its peers in state government,” McNally told the Senate. “However, it is a more favorable rating as compared with non-governmental debt issuers, including those in the private sector.”

The rating is an assessment of the credit worthiness of the government’s debt issues.