0D BUSINESS
Jeff Gill | Business reporter
770-718-3408 | jgill@gainesvilletimes.com
The Times, Gainesville, Georgia
Wednesday, October 31,2018
Slow recovery from storm
ALYSSA POINTER I Associated Press
Branches of a damaged cotton tree are seen in Newton. When Hurricane Michael tore through Georgia’s cotton crop, it set
in motion a grim future for rural areas that depend on agriculture.
Hurricane Michael wrought hard times on rural Georgia
BY JEFF MARTIN
Associated Press
ATLANTA — Hurricane Michael
left a snowy landscape of ruined white
cotton on Georgia’s red clay, destroy
ing a crop and likely bringing hard
times to the region’s many small com
munities built on agriculture.
When the storm struck, most of the
cotton was still in the fields, “wide
open and susceptible to the wind,” said
farmer Ron Lee of McCleskey Cotton
Co. in hard-hit southwest Georgia.
“Everything was just ready to har
vest, so it couldn’t have been a worse
time,” Lee said.
Georgia is the No. 2 cotton-producing
state in the nation, trailing only Texas,
U.S. Department of Agriculture statis
tics show.
Just 12 to 18 percent of Georgia’s
cotton crop had been harvested when
Michael invaded Georgia on Oct. 10,
said Richey Seaton, executive director
of the Georgia Cotton Commission. The
powerful storm entered Georgia as a
Category 3 hurricane and then tracked
near the heart of the state’s cotton
country.
“Every row looked like snow on the
ground,” recalled Andy Lucas of the
Georgia Farm Bureau, who went to
south Georgia shortly after the storm
to witness the damage.
Before the storm struck, Lee was
looking at the best cotton crop he’d
seen in more than two decades, he said.
He was still assessing the damage, but
estimated a 50 to 70 percent loss. That
could cost him $2.5 to $3 million. But
farmers to the south of him lost their
entire crop, he said.
“These little towns like Dawson
where I’m from, it’s just a poor area of
the state,” he said. “Agriculture is the
lifeblood of what’s left.”
Statewide, storm damage to Geor
gia’s cotton crop amounted to $550 to
$600 million, University of Georgia
agriculture officials estimated.
Overall, Michael’s damage to Geor
gia agriculture amounted to nearly $3
billion, Georgia Agriculture Commis
sioner Gary Black said one week after
the storm.
Michael wrecked many pecan trees,
which take an entire decade to mature
and begin producing nuts. Georgia’s
pecan crop sustained an estimated
$560 million loss in the storm, Black
said.
Vegetable crops, including sweet
corn, cucumbers, squash, peppers and
peas, took an estimated $480 million
hit, the state Agriculture Department
reported.
Many tall corn stalks were blown to
the ground.
“It’s just a green carpet, ” Lucas said.
Georgia’s peanut harvest was some
where around 45 to 50 percent com
plete, Lucas said. Officials were still
assessing damage to buildings where
peanuts are stored and dried, he said.
Repair costs will be key in the final loss
estimates for the peanut crop, the Agri
culture Department reported. Early
estimates of losses to the peanut crop
range from $10 million to $20 million.
Georgia’s poultry industry also sus
tained an estimated $25 million in
losses, which includes the loss of 97
chicken houses and more than 2 mil
lion chickens, state agriculture officials
said.
However, most of the state’s poultry
production is in north Georgia, which
escaped the worst of the storm. The
damage was in areas further south,
home to about 30 percent of the state’s
poultry industry, said Mike Giles, presi
dent of the Georgia Poultry Federation.
With mobile pay, go without a wallet at checkout
BY MARGARETTE
BURNETTE
Associated Press
When you’re at the
checkout line this holiday
season, you could juggle
your bags and dig into your
purse or billfold for your
credit or debit card. Or you
could use that phone you’re
already clutching, or that
new smartwatch strapped
to your wrist. Many stores
now accept mobile wallets,
a technology that lets cus
tomers make payments via
smartphone or watch.
Mobile wallets come
in different digital forms.
There are device spe
cific platforms, such as
Apple Pay and Samsung
Pay, which are compat
ible with Apple and Sam
sung devices, respectively.
Google Pay works with
multiple platforms, includ
ing Android devices.
There are also merchant
apps, such as those from
Starbucks and Walmart,
that have mobile wallet
capabilities but can be
used only at specific stores.
About one-third of smart
phone owners who access
mobile wallets use those
downloaded from spe
cific retailers, says Karen
Augustine, a manager of
primary data services at
Mercator Advisory Group,
a payments and consulting
research firm.
Still, many consum
ers are sticking with their
cards due to concerns about
safety or the familiarity
of good old plastic. But if
you’re ready to give mobile
wallets a try, here’s what
you need to know to get
started.
Shoppers who don’t want
to carry physical wallets
and cards — or who are
scared of losing a card —
may find mobile wallets
helpful. Many early adopt
ers have been young adults
who wear smartwatches or
carry phones nearly every
where and are willing to
try new forms of payment,
Augustine says.
Those who want an easier
way to track store rewards
might also benefit from
mobile wallets. A mobile
wallet can keep track of
rewards program infor
mation, making it easier
to get credit for qualifying
purchases. Merchants and
credit card issuers might
also offer promotional
bonus rewards for mobile
wallet transactions.
To start, you’ll need to
load your bank information
onto your preferred mobile
wallet device. That gener
ally means entering a credit
card or debit card number
and security code, and
accepting the terms and
conditions in the mobile
app.
When it’s time to make a
payment, show your device
at the checkout. You com
plete the transaction by
placing the device near
the terminal and scanning
a barcode or using a bio
metric reader that may,
for example, scan your fin
gerprint to sign off on the
purchase.
BUSINESS HIGHLIGHTS
NEW YORK
iPads, Macs get new screens
as Apple pushes creativity
Apple’s new iPads will more closely resemble its
latest iPhones as they ditch a home button and finger
print sensor to make more room for the screen.
As with the latest iPhone models — the XR and XS
—the new iPad Pro will use facial-recognition tech
nology to unlock the device and to authorize app and
Apple Pay purchases.
Apple also unveiled new Mac computers, including
an overdue refresh of the MacBook Air laptop, now
with a high-resolution screen.
Better screens come with price increases for both
iPads and Macs.
Tuesday’s announcements took place at an opera
house in New York, where the company empha
sized its products’ ability to create music, video and
sketches. Neither the Mac nor the iPad generates as
much revenue for Apple as iPhones.
Tablet sales have been declining overall, though
Apple saw a 3 percent increase in iPad sales last year
to nearly 44 million, commanding a 27 percent market
share, according to research firm IDC. Apple has been
promoting its high-end iPad Pro as ideal for artists,
photographers and other creators.
D.A. Davidson Co. analyst Tom Forte said Apple did
“a nice job of rolling out next-generation devices with
features customers want to sustain momentum” in
iPad sales growth.
The smaller of the two new Pros will have a wider
display than before when held horizontally. Its screen
is 11 inches rather than 10.5 inches, measured diag
onally. It starts at about $800, or $150 more than the
10.5-inch version.
For the larger, 12.9-inch model, Apple is fitting the
same-size display into a smaller device — about the
size of a standard sheet of paper. That starts at about
$1,000, a price hike of $200.
The new iPads will have an LCD screen similar to
the iPhone XR rather than the more vibrant one found
in the top-of-the-line iPhone XS models. The displays
on the new iPads don’t run to the edges as much as
they do on iPhones.
An updated pencil, still at $99, will attach magneti
cally to the iPad for storage and charging.
Apple is bringing a high-resolution display to its
low-end MacBook Air, something until now limited to
pricier models such as the MacBook Pro products. But
the starting price goes up $200 to about $1,200.
The Air also joins higher-end Pros in sporting a fin
gerprint sensor, something the iPad just lost.
Apple also announced an updated desktop com
puter, the Mac Mini, starting at about $800.
The company said both Macs will use aluminum left
over from producing iPads and other products.
The new MacBook Air and iPad Pros will now use a
standard, oval-shaped connector called USB-C.
That means accessories using the iPad’s old Light
ning port will need adapters, sold separately. The
change will allow people to charge their iPhones
through the iPad.
The Air also loses the slot for camera memory cards.
An adapter costs $39.
ATLANTA
Coke rides high on sales of
healthier drinks
Strong sales of “premium” water and sugar-free
sodas powered third-quarter earnings for Coca-Cola
Co.
Coke President and CEO James Quincey said
enhanced waters like the smartwater, vitaminwater
and Topo Chico brands helping turn around a slump in
water sales at the company.
Sales of water and sports drinks jumped 5 percent
in the July-September period, with particularly strong
growth in China and Mexico. Coke says it will launch
smartwater in 20 markets by the end of this year,
bringing it to a total of 32 countries.
Global sales of sparkling soft drinks grew 2 percent,
led by low-calorie and no-calorie versions of Sprite and
Fanta. Quincey said Coca-Cola Zero Sugar diet soda
had its best quarter in 10 years.
Coke said sales of juice, dairy and plant-based drinks
dropped 3 percent due to declining sales in the Middle
East and Africa. Tea and coffee sales were also down
2 percent. Rising demand for Fuse tea failed to offset
softness in markets like Turkey.
Quincey noted the unusual pace of acquisitions and
investments in the quarter. That will likely slow in
coming quarters, but acquisitions will continue to be
an important tool for the company, he said.
Associated Press
Stock Exchange Highlights
ft
NYSE
12,129.94 +187.43
Gainers ($2 or more)
Name Last Chg %Chg
PionEnSvc
UndrArm s
UnAr C wi
IntPotash
VulcanM
MarineMx
Oi SAC
Kemet
Instructre n
Chegg
2.96 +.72
23.23 +5.04
20.97 +4.16
3.90 +.59
98.93 +14.73
22.00 +3.03
3.76 +.52
20.54 +2.79
35.50 +4.75
26.32 +3.33
+32.1
+27.7
+24.7
+17.8
+17.5
+16.0
+16.0
+15.7
+15.4
+14.5
Losers (S2 or more)
Name
Last Chg %Chg
ElevCr n 3.90
EvoquaWt n 9.02
AccoBrds 7.95
VenatorM n 6.47
ResidioTc n 21.06
AACHIdgs 5.46
Shutterstk 39.01
DxSOXBr rs13.84
ChesEng 3.27
CmtyHIt 2.81
-2.45 -38.6
-4.78 -34.6
-2.02 -20.3
-1.53 -19.1
-4.76
-1.08
-5.64
-1.97
-18.4
-16.5
-12.6
-12.5
-.45 -12.1
-.37 -11.6
Most Active ($1 on more)
Name Vol (00) Last Chg
GenElec 3448246
ChesEng 1190662
Weathflntl 1108538
BkofAm 789775
FordM 580331
Praxair 573741
Ambev 529300
AT&T Inc 490531
Twitter 431282
Petrobras 412643
10.18
3.27
1.26
26.78
9.46
164.50
4.29
30.47
-.98
-.45
-.28
+.17
+.18
-.99
+.17
+.83
33.86 +1.47
16.41 +.85
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
2,012
816
66
2,894
25
311
5,030,792,376
Gainers ($2 or more)
Name Last Chg %Chg
ElectSci
HeidrkStr
AptevoTh n
Veracyte
C00IHI rs
AmkorTch
AkamaiT
ChampO hrs11.50
RiseEdCy n 12.00
Colmbus 35.16
28.53
36.37
3.59
11.56
4.28
7.17
72.55
+13.60
+7.01
+.68
+2.12
+.74
+1.14
+10.50
+1.66
+1.70
+4.92
+91.1
+23.9
+23.4
+22.5
+20.9
+18.9
+16.9
+16.9
+16.5
+16.3
Losers ($2 or more)
Name
Last Chg %Chg
ElecVeh n 3.31
vTvTherap 2.35
IronwdPh 13.18
EaglePhm 47.50
SundEng n 5.27
FUR Sys 46.36
GoldBull n 6.33
NuCana n 17.12
RealmTh n 2.55
BioSigTc n 3.65
-1.24 -27.3
-.55 -19.0
-2.91 -18.1
-9.40 -16.5
-.98 -15.7
-6.88 -12.9
-.89 -12.3
-2.36 -12.1
-.35 -12.1
-.50 -12.0
Most Active ($1 or more)
Name Vol (00) Last Chg
AMD 986650
Microsoft 652638
SiriusXM 474831
Facebook 445894
Intel 439386
CaesarsEnt375900
Comcast s 366085
Apple Inc 364653
MicronT 351302
Cisco 258266
17.20
103.73
5.86
146.22
47.76
8.13
37.71
213.30
36.01
44.58
+.35
-.12
+.24
+4.13
+2.36
-.08
+1.72
+1.06
+1.35
+.74
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
1,998
925
141
3,064
19
215
2,532,632,875
Stocks of Local Interest
Name Ex
YTD
Div Yld PE Last Chg %Chg
AFLAC S
1.04
2.4
13
43.14
+.86 0.0
HomeDp
4.12
2.3
23
176.24
+3.04
-7.0
AT&T Inc
2.00
6.6
6
30.47
+.83 -21.6
Intel
1.20
2.5
18
47.76
+2.36
+3.5
AbbottLab
1.12
1.6
29
68.00
+.69 +19.2
IBM
6.28
5.4
9
115.40
-4.24
-24.8
AMD
17.20
+.35 +67.3
JohnJn
3.60
2.6
20
140.75
+3.20
+.7
Altria
3.20
4.9
21
65.87 +1.28 -7.8
Lowes
1.92
2.0
20
94.74
+1.88
+1.9
Apple Inc
2.92
1.4
25
213.30 +1.06 +26.0
McDnlds
4.64
2.6
27
178.49
+5.26
+3.7
ATMOS
1.94
2.0
18
94.80
+.31 +10.4
Merck
2.20
3.0
27
72.87
+1.42
+29.5
AutoZone
16
747.40
+.35 +5.1
MicronT
3
36.01
+1.35
-12.4
AveryD
2.26
2.5
26
90.59 +1.20 -21.1
Microsoft
1.84
1.8
49
103.73
-.12
+21.3
BB&T Cp
1.62
3.4
14
48.28
+.51 -2.9
Netflix s
285.81
+.97
+48.9
BP PLC
2.38
5.6
22
42.21
+1.18 +.4
NorflkSo
3.20
1.9
25
166.31
+5.22
+14.8
BkofAm
.60
2.2
13
26.78
+.17 -9.3
OfficeDpt
.10
3.9
7
2.58
+.05
-27.1
BarnesNob
.60
9.4
6.40
+.17 -4.5
Oracle
.76
1.6
52
48.57
+1.55
+2.7
Boeing
6.84
2.0
33
349.91+14.32 +18.6
Penney
23
1.40
+.04
-55.7
BrMySq
1.60
3.2
50
50.02
+.29 -18.4
PepsiCo
3.71
3.3
33
113.77
+.88
-5.1
CSX
.88
1.3
10
68.81
+3.12 +25.1
Pfizer
1.36
3.2
17
42.89
-.34
+18.4
CaesarsEnt ...
8.13
-.08 -35.7
PhilipMor
4.56
5.0
22
90.47
+.01
-14.4
CampSp
1.40
3.7
13
38.24
+.65 -20.5
Praxair
3.30
2.0
33
164.50
-.99
+6.3
Caterpillar
3.44
2.9
11
117.46
+3.48 -25.5
Primerica
1.00
.9
13
109.68
+.92
+8.0
ChesEng
5
3.27
-.45 -17.4
ProctGam
2.87
3.2
22
89.19
+.95
-2.9
Chevron
4.48
4.0
49
110.85
+1.92 -11.5
RegionsFn
.56
3.4
14
16.52
+.09
-4.4
Cisco
1.32
3.0
22
44.58
+.74 +16.4
SiriusXM
.05
.8
33
5.86
+.24
+9.3
Citigroup
1.80
2.8
11
64.53
+.18 -13.3
SnapincAn ...
6.43
+.44
-56.0
CocaCola
1.56
3.3
90
47.63
+1.17 +3.8
SouthnCo
2.40
5.2
22
45.82
-.07
-4.7
Comcast s
.76
2.0
18
37.71
+1.72 -5.5
SunTrst
2.00
3.2
11
61.94
+1.76
-4.1
ConAgra
.85
2.3
18
36.38
+.42 -3.4
SynovusFn 1.00
2.7
13
37.04
+.14
-22.7
Cummins
4.56
3.4
37
134.40
+3.02 -23.9
3M Co
5.44
2.9
26
189.81
+4.02
-19.4
DenburyR
3.36
+.04 +52.0
Torchmark
.64
.8
7
84.78
+1.74
-6.5
Disney
1.68
1.5
15
114.76
+1.72 +6.7
Twitter
33.86
+1.47
+41.0
DowDuPnt
1.52
2.9
17
52.63
+.56 -26.1
Tyson
1.20
1.9
11
62.10
+.54
-23.4
Equifax
1.56
1.6
17
99.03
+2.41 -16.0
UndrArm s
40
23.23
+5.04
+61.0
ExxonMbl
3.28
4.2
17
78.78
+1.73 -5.8
UtdCmBks
.60
2.4
15
24.90
+.13
-11.5
Facebook
27
146.22
+4.13 -17.1
UPS B
3.64
3.4
18
107.07
+1.94
-10.1
FstData n
9
17.84
-.17 +6.8
VerizonCm
2.41
4.1
7
58.18
+1.70
+9.9
FordM
.60
6.3
5
9.46
+.18 -24.3
Vodafone
1.82
9.7
18.86
+.07
-40.9
GenElec
.48
4.7
10.18
-.98 -41.7
WalMart
2.08
2.0
24
102.42
+2.62
+3.7
GenuPrt
2.88
2.9
21
98.33
-1.42 +3.5
Weathflntl
1.26
-.28
-69.8
HP Inc
.56
2.4
9
23.67
+.65 +12.7
WeisMk
1.20
2.5
23
47.81
+1.62
+15.5
Haverty
.72
3.5
21
20.77
+.45 -8.3
WellsFargo 1.72
3.3
13
52.69
+.46
-13.2
HeliosM rs
.02
-.00-100.0
YumBrnds
1.44
1.7
31
86.43
+.96
+5.9
Hershey
2.89
2.7
23
108.04
+2.04 -4.8
Zynga
61
3.67
+.05
-8.3
Name Ex
YTD
Div Yld PE Last Chg %Chg
Stock Footnotes: g = Dividends and earnings in Canadian dollars, h = Does not meet continued-listing standards. If = Late filing
with SEC. n = New in past 52 weeks, pf = Preferred, rs = Stock has undergone a reverse stock split of at least 50 percent within the
past year, rt = Right to buy security at a specified price, s = Stock has split by at least 20 percent within the last year, un = Units, vj
= In bankruptcy or receivership, wd = When distributed, wi = When issued, wt = Warrants. Fund Footnotes: m - Multiple fees are
charged, usualiy a marketing fee and either a sales or redemption fee. Source: The Associated Press. Sales figures are unofficial.
Stock Market Indexes
Dow Jones industrials
Close: 24,874.64
Change: 431.72 (1.8%)
27,200
26,400
25,600
24,800
24,000
25,840,
24,980
24,120 10 DAYS
M
J J
A
S
O
52-Week
Net
YTD
12-mo
High
Low
Name
Last
Chg
%Chg
%Chg
%Chg
26,951.81
23,242.75
Dow Industrials
24,874.64
+431.72
+1.77
+.63
+6.41
11,623.58
9,420.16
Dow Transportation
10,175.57
+279.46
+2.82
-4.12
+4.27
778.80
647.81
Dow Utilities
742.58
+2.34
+.32
+2.66
-1.41
13,637.02
11,820.33
NYSE Composite
12,129.94
+187.43
+1.57
-5.30
-1.71
8,133.30
6,630.67
Nasdaq Composite
7,161.65
+111.36
+1.58
+3.74
+6.45
1,309.73
1,118.69
S&P 100
1,193.70
+16.01
+1.36
+.89
+5.00
2,940.91
2,532.69
S&P 500
2.682.63
+41.38
+1.57
+.34
+4.17
2,053.00
1,769.25
S&P MidCap
1,819.53
+30.94
+1.73
-4.26
-.85
30,560.54
26,293.62
Wilshire 5000
27,669.64
+441.57
+1.62
-.45
+3.40
1,742.09
1,436.43
Russell 2000
1,506.64
+29.33
+1.99
-1.88
+.26
Mutual Funds
Name
Total Assets
Obj ($Mlns) NAV
Total Return/Rank
4-wk 12-mo 5-year
Pet
Load
Min Init
Invt
Vanguard 500ldxAdmrl
LB
265,379
247.98
-7.8
+6.2/A
+11.0/A
NL
10,000
Vanguard TtlSMIdxAdmrl
LB
214,061
66.74
-8.4
+5.7/B
+10.5/A
NL
10,000
Vanguard TtlSMIdxInv
LB
135,625
66.72
-8.4
+5.6/B
+10.4/B
NL
3,000
Vanguard TtlnSIdxInv
FB
134,124
15.73
-9.4
-9.4/C
+1.6/B
NL
0
Vanguard TtlSMIdxins
LB
128,089
66.76
-8.4
+5.7/B
+10.5/A
NL 5
000,000
Vanguard Insldxlns
LB
126,438
244.65
-7.8
+6.3/A
+11.0/A
NL 5
000,000
Vanguard InsIdxinsPlus
LB
108,769
244.67
-7.8
+6.3/A
+11.0/A
NL100,000,000
Fidelity Contrafund
LG
101,686
12.43
-11.8
+5.3/D
+11.5/B
NL
0
Vanguard TtlnSIdxInsPlus
FB
100,878
105.25
-9.4
-9.3/C
+1.7/B
NL100,000,000
American Funds GrfAmrcA m
LG
94,075
50.35
-11.2
+5.1/D
+10.9/C
5.75
250
Vanguard WlngtnAdmrl
MA
88,474
70.53
-4.4
+2.2/A
+7.5/A
NL
50,000
Vanguard TtBMIdxAdmrl
Cl
85,309
10.27
-0.6
-1.9/C
+1.8/C
NL
10,000
Cl -Intermediate-Term Bond, FB -Foreign Large Blend, IH -World Allocation, LB -Large Blend, LG -Large Growth,
LV -Large Value, MA -Moderate Allocation, WS -World Stock, Total Return: Chng in NAV with dividends reinvested.
Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum
$ needed to invest in fund. Source: Morningstar.
