0D BUSINESS
Jeff Gill | Business reporter
770-718-3408 | jgill@gainesvilletimes.com
The Times, Gainesville, Georgia
Saturday, December 22, 2018
Economy sees solid third quarter growth
BY MARTIN CRUTSINGER
Associated Press
WASHINGTON - The
U.S. economy expanded at
a solid 3.4 percent annual
rate in the third quarter,
slightly slower than the pre
vious estimate as consumer
spending and exports were
revised lower. The economy
is expected to slow further in
the current quarter.
The Commerce Depart
ment said Friday that
growth in the gross domes
tic product, the economy’s
total output of goods and
services, was revised down
from an earlier estimate of
3.5 percent. The still-strong
performance followed a 4.2
percent advance in the sec
ond quarter and a moderate
2.2 percent increase in the
first quarter.
Economists believe that
economic growth is slow
ing in the fourth quarter to
around 2.5 percent. For the
full year, GDP growth is pro
jected to top 3 percent — the
best showing since 2005.
President Donald Trump
has often cited the upturn
in economic growth as evi
dence his economic pro
gram, which includes a
$1.5 trillion tax cut passed
last year, has lifted the
economy.
However, analysts believe
BEN MARGOT I Associated Press
A container ship waits to be unloaded at the Port of Oakland,
Jan. 30, in Oakland, Calif.
the boost from the tax cut ment spending Congress
and increased govern- approved last February will
begin to fade in 2019. They
are forecasting growth will
slow to around 2.7 percent in
2019. Some analysts believe
by 2020, GDP growth may
be barely above 1 percent
or could slip into a recession
that year.
The Trump administra
tion insists the impact from
the tax cuts, deregulation
and tougher enforcement of
trade agreements will keep
the economy expanding at a
sustained rate of 3 percent
in coming years.
The GDP report on Fri
day was the government’s
third and final look at the
July-September quarter.
Driving Friday’s down
ward revision was an even
bigger decline in exports
of a category that includes
industrial machinery, as
well as slower consumer
spending on non-durable
goods such as gasoline and
other energy products.
The Federal Reserve on
Wednesday boosted its key
policy rate for a fourth time
this year but lowered its
outlook for rate hikes next
year from three to two. The
projection of fewer future
rate hikes failed to calm
Wall Street investors, who
sent stocks sharply lower.
They had hoped for the Fed
to declare a pause in its rate
hike campaign.
Hotels encourage digital detox
TERESA CRAWFORD I Associated Press
Adam Bryan and his son, Wesley, work together on puzzles included in incentives by the Wyndham Grand Hotel in Chicago on Dec. 1.
Some resorts offer incentives to guests who lock away devices
BUSINESS
HIGHLIGHTS
Fire risk forces Ford
pickup truck recall
DETROIT — Ford is recalling more
than 874,000 F-Series pickup trucks with
engine block heaters in the U.S. and Canada
because they can catch fire.
The recall covers certain F-150s from the
2015 through 2019 model years, as well as
the 2017 through 2019 F-250, 350, 450 and
550.
The company says in documents posted
Friday on the U.S. National Highway Traf
fic Safety Administration website that water
and contaminants can get into the heater
cable and cause corrosion. That can cause
electrical shorts and possible fires. Engine
block heaters warm the engines so they can
start and warm up faster in extreme cold
temperatures.
The company says the risk of fire happens
only when the block heater cable is plugged
into an electrical outlet.
Ford has received three reports of fires in
Canada, but none in the U.S. Minor property
damage was reported in one incident, but
there haven’t been any reports of injuries,
Ford said in a statement.
Dealers will inspect and seal the cable or
replace the heaters if needed. The recall is
expected to start in the U.S. on Jan. 7.
F-Series pickups are the top-selling vehi
cle in the United States.
Amazon expands jet fleet
BY DEE-ANN DURBIN
Associated Press
Can you take a vacation from
your cellphone? A growing
number of hotels will help you
find out.
Some resorts are offering
perks, like snorkeling tours and
s’mores, to guests who manage
to give up their phones for a few
hours. Some have phone-free
hours at their pools; others are
banning distracting devices
from public places altogether.
Hotels that limit cellphone
use risk losing valuable expo
sure on Instagram or Face-
book. But they say the policies
reflect their mission of promot
ing wellness and relaxation.
And they hope that happily
unplugged guests will return
for future visits.
“Everyone wants to be able
to disconnect. They just need a
little courage,” said Lisa Chec-
chio, Wyndham Hotels’ chief
marketing officer.
People’s inability to discon
nect is an increasingly seri
ous issue. Half of smartphone
users spend between three and
seven hours per day on their
mobile devices, according to a
2017 global survey by Counter
point Research, a technology
consulting firm. In a separate
study by the nonprofit Common
Sense Media, 69 percent of par
ents and 78 percent of teens
said they check their devices at
least hourly.
Wyndham knew it had a
problem when hotel managers
requested more beach chairs
to accommodate all the people
who would sit in them and stare
at their phones. It discovered
that the average resort guest
was bringing three devices and
checking them once every 12
minutes — or roughly 80 times
a day.
On Oct. 1, Wyndham Grand’s
five U.S. resorts began offering
prime spots by the pool, free
snacks and the chance to win
return visits when guests put
their phone in a locked pouch.
The phones stay with the
guests, but only hotel staff can
unlock the pouches.
Wyndham says 250 people
have used the pouches so far
at resorts in Florida and Texas.
The program will be found at
more hotels next year.
Wyndham Grand resorts
also give families a 5 percent
discount on their stay if they
put their phones in a timed
lockbox. The hotel provides
supplies for a pillow fort,
s’mores, a bedtime book and an
instant camera for adults and
kids who don’t know what to do
with all the newfound time on
their hands.
That appeals to Matthew
Cannata, who heads public
relations for the New Brit
ain, Connecticut, schools. He
worries about the impact of
technology on his two young
children, and he tries to keep
devices out of sight during fam
ily meals.
“Any chance I can get to put
the phone away is great. Some
times, people need to be forced
to do things to start a thought
process and then create a
habit,” he said.
At the Grand Velas Riviera
Nayarit in Mexico, a so-called
Detox Concierge will “cleanse”
your suite of all electronic
devices and replace them with
games like Jenga and chess.
Guests at its sister resort, the
Grand Velas Riviera Maya,
trade in their phones for a
bracelet that gives them free
access to activities like snorkel
ing; they must do at least four
activities to earn back their
phones. A timer placed in the
lobby shows how long each
family has lasted without their
devices.
At Miraval, a Hyatt-owned
resort in Arizona, the emphasis
is less on family time than on
mindfulness and tranquility.
Miraval bans phone use in pub
lic areas.
Guests are encouraged to
tuck their phones into soft cot
ton bags and leave them on
small beds in their rooms. Staff
wears name tags with remind
ers that guests should unplug
and “be present.”
NEW YORK — Amazon is expanding its
airplane fleet, diminishing further its reli
ance on major delivery services like UPS,
FedEx and the U.S. Postal Service.
The company said Friday it will lease 10
Boeing 767s planes, bringing its total fleet to
50 with the goal of getting orders to people
faster and more reliably.
Amazon’s fleet of planes is far smaller
than those at UPS and FedEx, which num
ber in the hundreds, but it’s pushed in recent
years to gain more control over deliveries.
Amazon launched a program over the
summer that allows contractors around the
country to deliver Amazon packages in vans
stamped with the Amazon smile logo. It also
plans to open a package sorting hub at Fort
Worth Alliance Airport in Texas next year
and another at Cincinnati/Northern Ken
tucky International Airport in 2021.
FedEx CEO Frederick Smith said this
week that he didn’t see Amazon Air as a
competitor and that it was “fantastical” to
think it could disrupt FedEx.
A number of industry watchers see a
more significant threat.
Analysts at Morgan Stanley estimated that
FedEx and UPS could lose a combined 2
percent of revenue this year to Amazon Air.
The Seattle company says the 10 new jets
will join the rest of its fleet over two years.
Associated Press
Stock Exchange Highlights
V
NYSE
11,036.84 -185.95
B Nasdaq
W 6,332.99 -195.41
Gainers (S2
Name Last
OR MORE)
Chg %Chg
SuzanoP n 22.00
CastlightH 2.17
Amrep 6.65
AmTrFn 55 18.66
CarboCer 3.25
NikeB s 72.37
Genworth 4.51
SunlOnl n 2.40
RevGp n 7.34
Ennis Inc 18.51
+2.95 +15.5
+.20 +10.2
+.58 +9.6
+1.56
+.26
+4.84
+.29
+.14
+.39
+.95
+9.1
+8.7
+7.2
+6.9
+6.2
+5.6
+5.4
Losers (S2 or more)
Name
Last Chg %Chg
Perrigo 37.03
FourSeEd n 2.79
Yirendai n 10.35
DxBiotBII rs 25.55
CampWrl n 11.24
Navios pfG 2.85
NLInds 3.13
ChaparrE n 5.22
TownsqMda 4.27
W&T Off 3.77
-15.33 -29.3
-.56 -16.6
-1.61 -13.5
-3.80 -12.9
-1.61 -12.5
-.38 -11.7
-.39 -11.1
-.63 -10.8
-.51 -10.7
-.44 -10.5
Most Active ($1 on more)
Name Vol (00) Last Chg
GenElec 1855001
BkofAm 1590705
Kinross g 1345113
AT&T Inc 792307
ChesEng 615644
Pfizer 586386
Oracle 577819
FordM 575016
WellsFargo 555743
VerizonCm 544469
7.15 -.29
23.37 -.74
3.12 -.02
28.31 -.34
1.90 +.06
41.93 -.02
44.00 -2.24
8.05 -.21
45.12 -.92
54.92 -.15
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
602
2,249
45
2,896
3
999
7,518,847,241
Gainers ($2
Name Last
OR more)
Chg %Chg
ObalonT n 2.65
Astrotch rs 5.00
SmaashEnt 2.32
NFEngSv 13.66
AdialPh n 4.30
MarinSft rs 9.75
ChromaDx n 3.54
Equillium n 7.75
Brainstorm 3.55
Neonode rs 2.20
+1.01 +61.6
+1.62 +47.9
+.73 +45.7
+4.11 +43.0
+1.23 +40.1
+2.59 +36.2
+.73 +26.0
+1.43 +22.6
+.57 +19.1
+.35 +18.9
Losers ($2 or more)
Name
Last Chg %Chg
Wheelr pfB 6.80
Wheelr pfD 9.00
CreatReal n 2.00
SG Blok n 2.50
TherpxBio n 3.50
Bionano n 5.12
Inpixon rs
Arsanis n
EditasM n
MarinusPh
3.21
2.37
18.19
2.40
-7.30 -51.8
-6.76 -42.9
-.72 -26.3
-.86 -25.5
-1.04 -22.9
-1.43 -21.8
-.89 -21.7
-.63 -21.0
-4.77 -20.8
-.62 -20.5
Most Active ($1 or more)
Name Vol (00) Last Chg
AMD 1295608 16.93 -1.01
Microsoft 1109061 98.23 -3.28
Apple Inc 954639 150.73 -6.10
Cisco 751142 41.85 -.64
Facebook 566084 124.95 -8.45
MicronT 534825 30.32 -.96
Intel 525213 44.84 -.70
JD.com 494550 21.08 +1.17
HuntBncsh 436219 11.59
Comcast S 386807 33.75 -.87
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
608
2,356
112
3,076
8
1,032
4,456,665,410
Stocks of Local Interest
Name Ex
YTD
Div Yld PE Last Chg %Chg
AFLAC S
1.04
2.4
13
43.23
-.17
0.0
HuntBncsh
.56
4.8
11
11.59 ... -20.4
AT&T Inc
2.04
7.2
6
28.31
-.34 -27.2
Intel
1.20
2.7
17
44.84 -.70 -2.9
AbbottLab
1.28
1.9
29
67.27
-1.11 +17.9
IBM
6.28
5.7
8
110.94 -2.08 -27.7
AMD
16.93
-1.01 +64.7
JPMorgCh 2.24
2.4
13
94.17 -2.28 -11.9
Altria
3.44
7.0
16
49.09
-1.35 -31.3
JohnJn
3.60
2.8
18
128.09 -.18 -8.3
Apple Inc
2.92
1.9
15
150.73
-6.10 -10.9
Kinross g
24
3.12 -.02 -27.8
ATMOS
1.94
2.1
18
94.46
-.64 +10.0
Lowes
1.92
2.2
19
87.64 -1.52 -5.7
AutoZone
17
826.04
-.18 +16.1
McDnlds
4.64
2.7
26
174.15 +.47 +1.2
AveryD
2.26
2.6
25
85.95
-.74 -25.2
Merck
2.20
3.0
27
72.90 -.59 +29.6
BB&T Cp
1.62
3.8
12
42.38
-.81
-14.8
MicronT
2
30.32 -.96 -26.3
BP PLC
2.38
6.3
11
37.67
+.41
-10.4
Microsoft
1.84
1.9
41
98.23 -3.28 +14.8
BkofAm
.60
2.6
11
23.37
-.74 -20.8
NorflkSo
3.20
2.2
22
144.38 -1.56 -.4
BamesNob
.60 10.4
5.79
-.43 -13.6
OfficeDpt
.10
4.7
6
2.12 -.21 -40.1
BarrickG
.28
2.1
73
13.12
-.26
-9.3
Oracle
.76
1.7
47
44.00 -2.24 -6.9
Boeing
8.22
2.7
28
304.55
-8.50 +3.3
Penney
1.09 -.03 -65.5
BrMySq
1.64
3.3
49
49.82
-.24 -18.7
PepsiCo
3.71
3.4
32
109.42 -.79 -8.8
CSX
.88
1.4
9
60.70
-.91 +10.3
Pfizer
1.44
3.4
17
41.93 -.02 +15.8
CampSp
1.40
3.9
13
35.75
-1.92 -25.7
PhilipMor
4.56
6.9
16
66.21 -2.87 -37.3
Caterpillar
3.44
2.9
11
120.07
-1.48 -23.8
Primerica
1.00
1.0
12
95.64 -1.78 -5.8
ChesEng
3
1.90
+.06 -52.0
ProctGam
2.87
3.2
22
90.97 -.01 -1.0
Chevron
4.48
4.3
22
104.21
-.77 -16.8
Qualcom
2.48
4.5
54.85 -1.52 -14.3
Cisco
1.32
3.2
18
41.85
-.64 +9.3
RegionsFn
.56
4.4
11
12.86 -.05 -25.6
Citigroup
1.80
3.6
8
50.24
-2.03 -32.5
SiriusXM
.05
.9
31
5.59 -.30 +4.3
CocaCola
1.56
3.3
90
47.57
+.03 +3.7
SouthnCo
2.40
5.3
21
45.09 ... -6.2
Comcast s
.76
2.3
16
33.75
-.87 -15.4
SunTrst
2.00
4.1
8
48.50 -.24 -24.9
ConAgra
.85
3.8
12
22.15
-2.13 -41.2
SynovusFn 1.00
3.2
11
30.88 -.39 -35.6
Cummins
4.56
3.6
36
128.22
-1.89 -27.4
3M Co
5.44
3.0
25
183.75 -3.63 -21.9
DenburyR
1.55
-.11 -29.9
Torchmark
.64
.9
6
72.53 -1.29 -20.0
Disney
1.76
1.7
14
104.22
-2.78
-3.1
Transocn
6.49 -.15 -39.2
DowDuPnt
1.52
3.0
16
50.59
-.45 -29.0
Twitter
27.31 -1.98 +13.7
eBay s
11
26.58
-1.41 -29.6
Tyson
1.20
2.3
9
51.73 -1.61 -36.2
Equifax
1.56
1.7
16
91.00
-.28 -22.8
UtdCmBks
.64
3.1
12
20.61 -.02 -26.8
ExxonMbl
3.28
4.8
13
68.12
-.51
-18.6
UPS B
3.64
3.9
16
93.50 -.44 -21.5
Facebook
23
124.95
-8.45 -29.2
VerizonCm
2.41
4.4
7
54.92 -.15 +3.8
FordM
.60
7.5
4
8.05
-.21 -35.5
Vodafone
1.74
9.0
19.35 -.65 -39.3
GenElec
.04
.6
7.15
-.29 -59.1
WalMart
2.08
2.4
50
87.13 -.15 -11.8
GenuPrt
2.88
3.1
20
93.21
-.59
-1.9
Weathflntl
.27 +.02 -93.5
HP Inc
.64
3.3
6
19.65
-.42
-6.5
WeisMk
1.24
2.6
11
47.33 +.16 +14.4
Haverty
.72
3.9
19
18.36
-.01
-18.9
WellsFargo 1.72
3.8
11
45.12 -.92 -25.6
Hershey
2.89
2.7
23
105.91
-.52
-6.7
YumBrnds
1.44
1.6
31
88.14 +1.02 +8.0
HomeDp
4.12
2.6
18
160.48
-3.68 -15.3
Zynga
91
3.63 +.04 -9.3
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, 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: 22,445.37
Change: -414.23 (-1.8%)
27,000
26,000
25,000
24,000
23,000
24,840
23,600
22,360 10 DAYS
J J
A
S
O N
D
52-Week
Net YTD
12-mo
High
Low
Name
Last
Chg %Chg %Chg
%Chg
26,951.81
22,644.31
Dow Industrials
22,445.37
-414.23 -1.81 -9.20
-9.33
11,623.58
8,941.64
Dow Transportation
8,874.79
-155.15 -1.72 -16.37
-16.86
762.26
647.81
Dow Utilities
722.38
-7.04 -.97 -.14
+.18
13,637.02
11,126.95
NYSE Composite
11,036.84
-185.95 -1.66 -13.83
-13.76
8,133.30
6,447.91
Nasdaq Composite
6,332.99
-195.41 -2.99 -8.26
-9.01
1,309.73
1,084.57
S&P 100
1,071.32
-25.04 -2.28 -9.45
-9.90
2,940.91
2,441.18
S&P 500
2,416.62
-50.80 -2.06 -9.61
-9.94
2,053.00
1,626.56
S&P MidCap
1,611.35
-32.98 -2.01 -15.22
-15.40
30,560.54
25,063.36
Wilshire 5000
24,792.95
-540.44 -2.13 -10.80
-11.02
1,742.09
1,313.02
Russell 2000
1,292.09
-33.91 -2.56 -15.85
-16.26
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
253,238
223.00
-8.6
-8.3/B
+8.0/A
NL
3,000
Vanguard TtlSMIdxAdmrl x
LB
203,888
59.77
-9.1
-9.0/C
+7.5/B
NL
3,000
Fidelity 500ldxlnsPrm
LB
164,099
84.03
-8.6
-8.2/B
+8.0/A
NL
0
Vanguard TtlSMIdxinv x
LB
129,896
59.75
-9.1
-9.1/C
+7.3/B
NL
3,000
Vanguard TtlnSIdxinv x
FB
128,269
14.81
-5.8
15.6/B
+0.9/B
NL
0
Vanguard TtlSMIdxIns x
LB
123,279
59.78
-9.1
-9.0/C
+7.5/A
NL 5
000,000
Vanguard Insldxlns
LB
116,738
219.26
-8.6
-8.3/B
+8.0/A
NL 5
,000,000
Vanguard InsidxInsPlus
LB
104,731
219.27
-8.6
-8.2/B
+8.0/A
NL100,000,000
Vanguard TtlnSIdxinsPlus x
FB
95,758
99.10
-5.8
-15.5/B
+1.0/A
NL100,000,000
Fidelity Contrafund
LG
91,616
10.46
-7.6
-7.5/C
+8.5/B
NL
0
Vanguard TtBMIdxAdmrl
Cl
86,606
10.41
+1.5
0.0/B
+2.3/C
NL
3,000
Vanguard WlngtnAdmrl
MA
86,207
62.72
-5.0
-5.4/B
+6.1/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.
