0D BUSINESS
Jeff Gill | Business reporter
770-718-3408 | jgill@gainesvilletimes.com
The Times, Gainesville, Georgia
Wednesday, November 7, 2018
Amazon to choose two spots for HQ split
BY JOSEPH PISANI,
DAVID KLEPPER AND
ALAN SUDERMAN
Associated Press
NEW YORK — After a yearlong
search for a second home, Amazon
is now reportedly looking to build
offices in two cities instead of one, a
surprise move that could still have a
major impact on the communities it
ultimately selects.
Virginia officials and some state
lawmakers were recently briefed
by the head of the state’s economic
development office that Amazon
was considering splitting up its sec
ond headquarters, according to a
person familiar with the matter.
Officials in Virginia believe
there’s a strong likelihood Amazon
will pick Crystal City in northern
Virginia as one of its sites, but the
company has not said anything
definitive, according to the person,
who was not authorized to speak on
the record.
“They’re a real secretive com
pany,” the person said.
One of the other areas the online
retail giant is considering is New
York’s Long Island City, according
to a source familiar with the talks.
Across the East River from mid
town Manhattan, Long Island City is
a longtime industrial and transpor
tation hub that has become a fast
growing neighborhood of riverfront
high-rises and redeveloped ware
houses, with an enduring industrial
foothold and burgeoning arts and
tech scenes.
Amazon has been tight-lipped
about the process and declined
to comment on the latest news.
There’s been intense competition to
win over the company, with some
throwing around billions of dollars
in tax incentives. Amazon kicked
off its hunt for a second headquar
ters in September 2017, initially
receiving 238 proposals before nar
rowing the list to 20 in January.
New York Gov. Andrew Cuomo
met in October with Amazon offi
cials in his New York City offices,
according to the source, who was
not authorized to discuss the nego
tiations and spoke on condition of
anonymity. Cuomo offered to travel
to Amazon’s Seattle hometown to
continue talks, the source said.
On Tuesday, Cuomo told report
ers that Amazon is looking at Long
Island City, but didn’t say if it was a
finalist. He said winning over Ama
zon would give an economic boost
to the whole state, and joked he was
willing to change his name to “Ama
zon Cuomo” to lure the company.
An estimated 135,000 or more
people live in Long Island City and
neighboring Sunnyside and Wood-
side, and the median household
makes about $63,500 a year, a bit
higher than the citywide median,
according to New York Univer
sity’s Furman Center housing and
urban policy think tank. About 40
percent of people over 25 in the
Long Island City area have a bach
elor’s or higher degree, slightly
above the citywide rate, the Fur
man Center’s data shows.
The New York Times reported
Monday Amazon is finalizing deals
to locate to Long Island City and
the Crystal City section of Arling
ton, Virginia. The Wall Street Jour
nal, which first reported on the
possible plan to split the headquar
ters between two cities, said Dallas
is also a contender. Both newspa
pers cited unnamed people famil
iar to the decision-making process.
A spokesman for the Dallas
Regional Chamber declined to
comment.
Long Island City and Crystal City
would meet Amazon’s require
ments for a new locale: Both are
near metropolitan areas with more
than a million people, have nearby
international airports, direct
access to mass transit and have
room for the company to expand.
Selecting those areas would
bring more jobs to places that
already have plenty. Jed Kolko,
the chief economist at job site
Indeed, said that choosing New
York and the D.C. area would “be a
much less radical move than many
imagined” and another example of
“rich places getting richer.”
Don’t use retirement funds for college
Students walk on the campus of Miami Dade College, Oct. 23, in Miami.
LYNNE SLADKYI Associated Press
Do your kids a favor: Pick retirement savings over their tuition
BY KEVIN VOIGT
Associated Press
Most financial planners advise never
tapping retirement savings to pay for your
kid’s education. Even as college costs
climb, there are still options to borrow
that cash, whereas it’s often noted that
you can’t borrow for retirement.
Yet about one-third of Americans with
kids under 18 say they plan to use retire
ment savings or “could use if needed” to
pay for their children’s education, accord
ing to a recent survey by Sallie Mae, one of
the nation’s largest student loan lenders.
More parents are thinking twice about
using retirement savings to fund college,
and here’s why their doubt is warranted.
Lost savings could hurt you
Paying for school from a tax-advan
taged employer retirement account like
a 401(k) can hurt you in several ways:
■ A 10 percent tax penalty on early
withdrawals below age 59V2.
■A potentially bigger tax bill the year
of withdrawal as the money you withdraw
is counted as income.
■ Loss of tax-free growth of your sav
ings. Unlike taxable investment accounts,
where you may have to pay the IRS annu
ally for capital gains, employer-sponsored
retirement accounts can grow tax-free.
■ Less benefit from compounding.
Early withdrawals will erode your portfo
lio’s growth potential.
But if you’re going to tap into your
retirement savings, experts say the “least
worst” option is to fund a Roth IRA.
Unlike contributions to a 401(k) or tradi
tional IRA, Roth IRA contributions aren’t
tax-exempt. But as a result, there are also
fewer restrictions on early withdrawals.
“You can withdraw any Roth IRA
contributions that you’ve made without
penalty,” says Crystal Wipperfurth, a
certified financial planner with Bron
fman Rothschild in Madison, Wisconsin.
“This is not ideal, because it reduces your
retirement savings, but it is an option.”
It could hurt your kids, too
Tapping your retirement savings can
hurt your kids if they need to provide
financial help for you in your later years.
“We see clients want to help their kids
through college at the expense of their
own retirement, and we always advise
against it,” says Matt Ahrens, a financial
advisor at Integrity Advisory in Overland
Park, Kansas. “Parents have to under
stand that sacrificing to help their kids
through college may only put more stress
on their children when they see their par
ents struggling financially in retirement.”
Using your retirement funds could also
hurt your child’s ability to qualify for stu
dent aid since the cash is considered “ordi
nary income” and may put your wages for
the year over what qualifies for assistance.
A 529 plan is the way to save
More Americans tuck college savings
into ordinary bank accounts (45 percent)
than a 529 savings plan (29 percent),
according to the 2018 Sallie Mae survey.
But 529 plan investments have more earn
ing potential than an ordinary savings
account, which grows less than 1 % a year.
“Parents of young children should start
a 529 fund right away, and add money
every month. Every little bit helps, and it
will have the advantage of years of com
pounding,” Ahrens says.
Job posts wane,
still beat number
of unemployed
Associated Press
WASHINGTON — The number of jobs posted
by U.S. employers declined slightly in Septem
ber but exceeded the number of unemployed
people and remained near a two-decade high.
The report Tuesday from the Labor Depart
ment provided the latest evidence many U.S.
companies are straining to fill jobs in the face
of a robust job market with low unemployment.
The department said job openings declined 4
percent to roughly 7 million, close to the highest
levels on records dating to December 2000. The
number of openings exceeded the roughly 6 mil
lion people who were unemployed in September.
The number of available jobs, in fact, has
topped the number of unemployed for six
straight months. Steadily strong hiring has low
ered the U.S. unemployment rate to a nearly
five-decade low of 3.7 percent.
And wages have begun picking up. Average
hourly pay rose 3.1 percent in October from a
year earlier, the fastest year-over-year gain
since 2009, the year the Great Recession ended.
Even with the dip in job openings in Septem
ber, hiring remains robust. In October, U.S.
employers added a strong 250,000 jobs, the gov
ernment reported last week.
In September, the number of people who quit
their jobs was essentially unchanged at around
3.6 million, a record high. A high number of
people quitting their jobs is an encouraging sign:
Most people quit when they have a job lined up.
Tuesday’s figures come from the govern
ment’s Job Openings and Labor Turnover sur
vey, which tracks the number of openings, quits
and hires. They showed several industries with
a particular abundance of openings.
A slight inflation increase has eroded some of
the higher pay value. And a storm-related drop
in average wages a year ago helped inflate Octo
ber’s average hourly pay gain.
Still, a broadening rise in wages suggests that
the benefits of a healthy economy have been rip
pling out to more people. A more dynamic job
market, with more people quitting and finding
new work, typically helps produce higher pay.
ROGELIO V. SOLIS I Associated Press
Stock Exchange Highlights
I
NYSE
12,480.06 +55.75
I
Nasdaq
7,375.96 +47.11
Gainers (S2
Name Last
OR MORE)
Chg %Chg
Gainers ($2 or more)
Name Last Chg %Chg
OnDeckCap 8.89
Calix 9.37
ELF Inc n 13.23
GenieEn n 6.24
US FdsHIn 31.63
Matson 41.03
Ducomun 42.40
Fabrinet 50.00
Mosaic 35.64
OutfrontM 20.11
+2.17 +32.3
+1.85 +24.6
+2.13 +19.2
+.77 +14.1
+3.64 +13.0
+4.63 +12.7
+4.18 +10.9
+4.80 +10.6
+3.42 +10.6
+1.90 +10.4
Losers (S2 or more)
Name
Last Chg %Chg
AACHIdgs 2.96
Invacare 7.47
Glatfelter 14.43
Veritiv 29.01
OcwenFn 3.13
NevroCorp 38.15
AvanosMd 48.95
Lydall 27.94
RedLionH 9.58
Univar n 22.20
-2.35 -44.3
-5.73 -43.4
-4.04 -21.9
-7.29 -20.1
-.68 -17.8
-7.73 -16.8
-9.84 -16.7
-5.33 -16.0
-1.81 -15.9
-3.68 -14.2
Most Active ($1 or more)
Name Vol (00) Last Chg
GenElec
1086819
9.42
+.14
BkofAm
431790
28.21
+.15
Ambev
424271
4.43
+.05
FordM
409061
9.54
+.01
ChesEng
318383
3.65
-.14
EnCana g
251706
8.71
-.17
AT&T Inc
243014
30.96
+.33
Petrobras
240467
15.87
-.55
WellsFargo 206942
53.55
-.11
Pfizer
202568
43.01
-.51
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
1,765
1,042
82
2,889
49
58
3,415,506,377
Boxlight n 3.
Vericel 16.
ConvrgOn n12.
Gogo 7.
IntersENT 32.
Novanta 74.
Akoustis n 4.
RemarkHId 2.
Allogene n 33.
RiotBIck 2.
3.70 +1.78
6.65 +5.11
+2.98
+1.52
2.64 +5.45
1.00 +12.12
4.45 +.70
3.98 +.45
3.30 +4.95
2.95 +.44
+92.7
+44.3
+31.6
+26.3
+20.0
+19.6
+18.7
+17.8
+17.5
+17.5
Losers ($2 or more)
Name
Last Chg %Chg
Greensky n 9.28
frntdoor 24.88
Inpixon rs 3.71
FiestaRst 18.51
SunHydrl 37.95
PyxisTnkr 2.07
AVEOPhh 2.03
CoreMrks 30.39
ElecVeh n 2.55
Cohu 18.06
-5.38 -36.7
10.25 -29.2
-1.44 -28.0
-6.43 -25.8
12.08 -24.1
-.54 -20.7
-.51 -20.1
-7.51 -19.8
-.52 -16.9
-3.41 -15.9
Most Active ($1 or more)
Name Vol (00) Last Chg
AMD 1447580
Greensky n328297
Apple Inc 317710
Symantec H307362
SiriusXM 300003
MylanNV 260513
Microsoft 242142
Intel 238016
Comcast s 194851
MicronT 191049
20.68 +.78
9.28 -5.38
203.77 +2.18
22.54 +2.52
6.34 +.23
36.43 +5.06
107.72 +.21
47.25 -.42
37.73 -.29
39.80 -.12
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
1,804
1,111
149
3,064
45
80
2,211,495,105
Stocks of Local Interest
Name Ex
YTD
Div Yld PE Last Chg %Chg
AFLAC S
1.04
2.4
14
43.99
+.28
0.0
HeliosM rs
.02
...-100.0
AT&T Inc
2.00
6.5
6
30.96
+.33
-20.4
Hershey
2.89
2.7
23
107.69
+.72 -5.1
AbbottLab
1.12
1.6
30
70.96
+.57 +24.3
HomeDp
4.12
2.3
24
182.01
-.18 -4.0
AMD
20.68
+.78+101.2
Intel
1.20
2.5
18
47.25
-.42 +2.4
Altria
3.20
4.9
21
64.87
+.24
-9.2
IBM
6.28
5.1
9
123.12
+3.06 -19.7
Apple Inc
2.92
1.4
24
203.77 +2.18
+20.4
JohnJn
3.60
2.5
20
142.57
+.37 +2.0
ATMOS
1.94
2.0
18
95.46 +2.17
+11.1
Lowes
1.92
2.0
20
97.51
+.44 +4.9
AutoZone
17
781.02+14.67
+9.8
MagneG rs
.28
+.03 -94.3
AveryD
2.26
2.5
26
91.97
+.03
-19.9
McDnlds
4.64
2.5
28
182.71
+2.32 +6.2
BB&T Cp
1.62
3.2
14
49.97
+.24
+.5
Merck
2.20
3.0
27
73.31
+.19 +30.3
BP PLC
2.38
5.6
23
42.66
+.05
+1.5
MicronT
3
39.80
-.12 -3.2
BkofAm
.60
2.1
13
28.21
+.15
-4.4
Microsoft
1.84
1.7
51
107.72
+.21 +25.9
BamesNob
.60
8.9
6.73
+.08
+.4
Mylan NV
11
36.43
+5.06 -13.9
Boeing
6.84
1.9
34
366.47
+4.49
+24.3
NorflkSo
3.20
1.9
25
167.05
-.15 +15.3
BrMySq
1.60
3.1
51
51.35
-.68
-16.2
OfficeDpt
.10
3.6
8
2.75
+.07 -22.3
CSX
.88
1.3
10
70.37
+1.28
+27.9
OncoSec rs ...
.87
-.87 -46.3
CaesarsEnt
9.41
-.09
-25.6
Penney
26
1.55
-.02 -50.9
CampSp
1.40
3.6
13
38.37
+.64
-20.2
PepsiCo
3.71
3.2
33
115.21
+.82 -3.9
CanopyGr n ...
42.59
+2.50
-17.3
Pfizer
1.36
3.2
17
43.01
-.51 +18.7
Caterpillar
3.44
2.7
12
129.33
+2.92
-17.9
PhilipMor
4.56
5.1
22
88.77
-.78 -16.0
ChesEng
6
3.65
-.14
-7.8
Primerica
1.00
.9
14
116.36
+2.31 +14.6
Chevron
4.48
3.8
53
118.90
-.04
-5.0
ProctGam
2.87
3.1
23
91.51
+.31 -.4
Cisco
1.32
2.8
23
46.50
+.36
+21.4
RegionsFn
.56
3.2
15
17.64
+.32 +2.1
Citigroup
1.80
2.7
11
66.68
-.62
-10.4
SiriusXM
.05
.8
35
6.34
+.23 +18.3
CocaCola
1.56
3.2
93
49.11
+.42
+7.0
SouthnCo
2.40
5.3
22
45.67
+.42 -5.0
Comcast s
.76
2.0
18
37.73
-.29
-5.4
Square n
77.31
+2.30+123.0
ConAgra
.85
2.4
17
35.06
+.06
-6.9
SunTrst
2.00
3.2
11
62.50
-.02 -3.2
CronosGp n ...
9.05
+.80
+18.8
Symantec I
.30
1.3
11
22.54
+2.52 -19.7
Cummins
4.56
3.1
40
145.11
+1.28
-17.8
SynovusFn 1.00
2.6
14
38.16
+.06 -20.4
DenburyR
3.19
-.34
+44.3
3M Co
5.44
2.8
27
195.30
+2.05 -17.0
Disney
1.68
1.4
16
116.71
+1.26
+8.6
Torchmark
.64
.7
7
86.70
+.83 -4.4
DowDuPnt
1.52
2.6
18
58.02
+.39
-18.5
Tyson
1.20
1.9
11
62.02
-.02 -23.5
EnCana g
.06
.7
15
8.71
-.17
-34.7
UtdCmBks
.60
2.4
15
25.31
-.02 -10.1
Equifax
1.56
1.5
18
103.56
-.36
-12.2
UPS B
3.64
3.4
18
108.65
+1.83 -8.8
ExxonMbl
3.28
4.0
18
81.99
+.35
-2.0
VerizonCm
2.41
4.2
7
57.21
... +8.1
FordM
.60
6.3
5
9.54
+.01
-23.6
Vodafone
1.82
9.5
19.13
-.58 -40.0
GenElec
.48
5.1
9.42
+.14
-46.1
WalMart
2.08
2.0
25
103.33
+.42 +4.6
GenuPrt
2.88
2.9
21
98.56
+.48
+3.7
Weathflntl
1.32
+.05 -68.3
Greensky n
9.28
-5.38
-60.3
WeisMk
1.24
2.7
11
45.46
+.86 +9.8
HP Inc
.56
2.2
9
24.88
+.24
+18.4
WellsFargo 1.72
3.2
13
53.55
-.11 -11.7
Haverty
.72
3.4
22
21.46
+.59
-5.3
YumBrnds
1.44
1.6
31
87.90
+.43 +7.7
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, usually 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: 25,635.01
Change: 173.31 (0.7%)
27,200
26,400
25,600
24,800
25,680
24,900
24,120 10 DAYS
M
J J
A
S
O
N
52-Week
Net
YTD
12-mo
High
Low
Name
Last
Chg
%Chg
%Chg
%Chg
26,951.81
23,242.75
Dow Industrials
25,635.01
+173.31
+.68
+3.70
+8.82
11,623.58
9,420.16
Dow Transportation
10,474.11
+112.30
+1.08
-1.30
+8.30
778.80
647.81
Dow Utilities
740.15
+5.35
+.73
+2.32
-2.47
13,637.02
11,820.33
NYSE Composite
12,480.06
+55.75
+.45
-2.57
+.88
8,133.30
6,630.67
Nasdaq Composite
7,375.96
+47.11
+.64
+6.85
+8.99
1,309.73
1,118.69
S&P 100
1,224.67
+15.83
+1.31
+3.51
+7.04
2,940.91
2,532.69
S&P 500
2,755.45
+17.14
+.63
+3.06
+6.36
2,053.00
1,769.25
S&P MidCap
1,881.95
+11.56
+.62
-.98
+2.80
30,560.54
26,293.62
Wilshire 5000
28,467.25
+165.11
+.58
+2.42
+6.00
1,742.09
1,436.43
Russell 2000
1,556.10
+8.59
+.55
+1.34
+5.21
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 247,729
254.78
-4.4
+8.4/A
+11.5/A
NL
10,000
Vanguard TtlSMIdxAdmrl
LB 199,057
68.66
-4.5
+7.9/B
+11.0/A
NL
10,000
Vanguard TtlSMIdxinv
LB 127,316
68.63
-4.5
+7.8/B
+10.9/B
NL
3,000
Vanguard TtlnSIdxinv
FB 126,316
16.26
-3.6
-7.3/C
+2.4/B
NL
0
Vanguard TtlSMIdxIns
LB 119,661
68.67
-4.5
+7.9/B
+11.0/A
NL 5
000,000
Vanguard Insldxlns
LB 116,372
251.36
-4.4
+8.4/A
+11.5/A
NL 5
000,000
Vanguard InsidxInsPlus
LB 101,648
251.38
-4.4
+8.4/A
+11.5/A
NL100,000,000
Vanguard TtlnSIdxinsPlus
FB 94,240
108.79
-3.6
-7.2/C
+2.5/B
NL100,000,000
Fidelity Contrafund
LG 91,385
12.83
-6.8
+7.9/D
+12.3/B
NL
0
Vanguard TtBMIdxAdmrl
Cl 85,528
10.23
-0.1
-2.6/C
+1.8/C
NL
10,000
Fidelity 500ldxlnsPrm
LB 84,712
96.41
-4.4
+8.4/A
+11.5/A
NL
0
Vanguard WlngtnAdmrl
MA 84,654
71.56
-2.6
+3.2/A
+7.8/A
NL
50,000
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.
