Newspaper Page Text
ED BUSINESS
Jeff Gill | Business reporter
770-718-3408 | jgill@gainesvilletimes.com
The Times, Gainesville, Georgia
Friday, December 28, 2018
Farming environmentally
US consumer
confidence
JEFF WHEELER I Tribune News Service
Remaining cover crop of rye grass that remained after a harvest of corn in a field near Byron, Minn.
Program encourages farmers to adopt carbon-conscious growing styles
BY JIM SPENCER
Tribune News Service
On 1,100 acres of farmland near
Austin, Minn., 47-year-old Tom Cot
ter has embraced no-till planting and
cover crops that keep carbon stored in
his soil and out of the atmosphere. Cot
ter changed his farming methods for
financial reasons, not just to fight cli
mate change, and stuck with them long
enough to see them pay off.
Cotter sees a new pilot program in the
2018 federal farm bill that pays farmers
to experiment with the same growing
style as a chance for others to enjoy the
economic and environmental benefits
he has.
The $25 million test project will mea
sure how much additional carbon the
agriculture sector can keep out of the
atmosphere by leaving fields untilled
or minimally tilled and covered with
vegetation.
“It’s going to help more people to try
it,” Cotter said of the pilot program.
“But you have to change your mind-set.
If you can get some money to do it, that
helps.”
Farming techniques that fight cli
mate change by increasing carbon
stored in soil do not work everywhere,
explained Tim Smith, a professor of bio
products and biosystems engineering at
the University of Minnesota. But where
they do work, soil quality and productiv
ity improves. They also reduce the need
for fertilizers that contribute to carbon
in the atmosphere.
The pilot program aims to “reward
farmers for sequestering carbon in their
soil, but we need to verify that they are
doing that,” said David Kolsrud, who
farmed in Luverne, Minn., before start
ing a private funding group and working
in the renewable-energy sector.
The carbon sequestration experi
ment in the farm bill was the brainchild
of an unlikely coalition that includes
the National Corn Growers Associa
tion (NCGA) as well as the Natural
Resources Defense Council (NRDC)
and the American Coalition for Etha
nol. Those normally competing groups
came together to persuade Congress to
fund a model for encouraging farming
that is simultaneously profitable and
environmentally friendly.
The project will pay selected par
ticipants to revive old farming methods
to draw more carbon from the atmo
sphere into the soil and keep it there.
“Ag (has) a major opportunity to pro
tect the climate,” said Nicole Lederer of
E-2, a group that advocates for policies
‘Farming techniques
that fight climate
change by increasing
carbon stored in soil do
not work everywhere
... But where they do
work, soil quality and
productivity improves..’
Tim Smith
University of Minnesota Professor
that work economically as well as envi
ronmentally. Lederer helped broker
the deal between the corn growers and
the resource council that led to the pilot
program.
Fundamentally, the program relies
on disturbing the soil as little as possible
to limit the release of carbon stored in
the roots of plants and decomposing
vegetation. It also emphasizes keeping
ground covered with crops year-round
to prevent the release of carbon from
erosion by water or wind.
Cotter said the combination reduces
the need for fertilizer. “Instead of
spending 20 bucks an acre killing the
ground, I want my soil livestock (worms
and other organic creatures) doing my
tillage,” he said.
That can mean planting cover crops
rather than letting fields lie fallow. It
especially means cutting down on or
eliminating tillage, said Lara Bryant,
NRDC’s deputy director of water and
agriculture nature programs.
No-till or low-till farming requires
some special equipment. Cotter grows
no-till soybeans using an $1,800 adjust
ment to the closing mechanism on
his planter. He grows low-till corn by
planting seed in narrow bands about
10 inches wide. He bought a used verti
cal till machine for $8,000 at auction to
help do that and shared the cost of the
machine with a neighbor.
These sorts of techniques fell out of
favor in the 1970s when plentiful land
and expanding crop production led
farmers to use “more extractive sys
tems,” according to Bryant. Rewarding
those who invest in equipment to return
to the old practice is a necessary part of
the pilot project.
China says plans made for US trade talks in January
Associated Press
BEIJING — China’s gov
ernment said Thursday it
has made plans with Wash
ington for talks in January
aimed at ending a tariff bat
tle that threatens to depress
global trade.
The two sides have “made
specific arrangements for
face-to-face meetings” and
are talking by phone, said
a Ministry of Commerce
spokesman, Gao Feng. Gao
gave no details.
Presidents Donald Trump
and Xi Jinping agreed Dec. 1
to postpone more tariff hikes
for 90 days while their gov
ernments negotiate over U.S.
complaints Beijing steals or
pressures foreign companies
to hand over technology.
Trump agreed to postpone
tariff hikes on $200 billion of
Chinese imports planned for
Jan. 1. Beijing responded by
announcing a delay in a 25
percent duty on imported
U.S. vehicles.
Preparations for talks
have proceeded despite
the Dec. 1 arrest in Canada
of an executive of Chinese
tech giant Huawei on U.S.
charges related to possible
violations of trade sanctions
on Iran.
Companies and investors
worry the dispute might
depress global trade at a
time of rising anxiety about
signs economic growth
might be slowing.
The two sides are main
taining “close communica
tion,” said Gao.
tumbles in Dec.
BY PAUL WISEMAN
Associated Press
WASHINGTON — U.S. consumer confidence tum
bled this month as Americans began to worry that eco
nomic growth will moderate next year. But consumer
spirits are still high by historic standards.
The Conference Board, a business research group,
said Thursday that its consumer confidence index fell
to 128.1 in December, down from 136.4 in November
and lowest since July.
The index measures consumers’ assessment of cur
rent economic conditions and their outlook for the
next six months. Both fell in December. Consumers’
expectations for the future dropped to the lowest level
since November 2016.
The December readings “still suggest that the
economy will continue expanding at a solid pace in
the short-term,” said Lynn Franco, the Conference
Board’s senior director of economic indicators. “While
consumers are ending 2018 on a strong note, back-to-
back declines in expectations are reflective of an
increasing concern that the pace of economic growth
will begin moderating in the first half of 2019.”
For now, the U.S. economy is solid. Economic
growth clocked in at a healthy 3.4 percent annual pace
from July through September after surging 4.2 percent
in the second quarter. At 3.7 percent, the unemploy
ment rate is the lowest in nearly five decades.
But the U.S. stock market has dropped sharply since
early October. Investors have plenty to worry about.
The Federal Reserve has gradually been raising inter
est rates. The economic boost from year-old tax cuts
is expected to fade in 2019. Global growth is sputter
ing. And the U.S. and China — the world’s two biggest
economies — are locked in a trade war that threatens
to disrupt global commerce.
Lightening the load:
Laundry detergents
shrink for Amazon
BY JOSEPH PISANI
Associated Press
NEW YORK — Amazon’s rise is forcing laundry
detergents to shrink.
Tide and Seventh Generation have introduced rede
signed laundry detergents that are several pounds
lighter by cutting down on plastic in their packaging
and using less water in their formulas. They’re making
the changes to please Amazon and other online stores:
Lighter packaging means retailers pay less to ship the
detergent to shopper’s doorsteps, making each sale
more profitable.
For consumers, the new packaging has been
designed to better survive shipping without leaking.
The challenge, however, is getting online shoppers to
buy detergent that looks nothing like the heavy bottles
they are used to.
Tide is putting its detergent into a cardboard box,
making it 4 pounds lighter than its 150-ounce plastic
bottles, but still able to wash the same 96 loads. Seventh
Generation went with a compact plastic bottle that’s
less than 9 inches tall, rectangular in shape and has no
measuring cup.
When Tide unveiled photos of its new packaging
this fall, social media users joked that it looked like
boxed wine. And when Seventh Generation tested an
unlabeled version of its new bottle, some mistook it for
shampoo.
The downsized detergents are a sign of Amazon’s
growing influence. Companies that have designed
products for decades to stand out on store shelves are
now being pressured by online retailers to make their
packaging lighter to cut down on shipping costs, said
Gary Liu, vice president of marketing at Boomerang
Commerce, which makes software for consumer goods
companies.
Amazon, for example, may drop products from their
website that costs too much to ship and aren’t making
it enough money. Retailers decide how much to charge
shoppers, but both Tide and Seventh Generation say
they expect the lighter detergents to cost the same as
traditional ones.
The Market in Review
Stock Exchange Highlights
A NYSE
■ 11,285.31 +81.22
1
Nasdaq
6,579.49 +25.14
Gainers (S2 or more)
Gainers ($2 or more)
Name
Last
Chg %Chg
Name
Last Chg %Chg
ChOnlEd n 6.97 +1.45 +26.3
ConcdMed 3.66 +.41 +12.6
BlueCapRe 5.98 +.62 +11.6
GSCI37 19.93 +2.00 +11.2
DoverDG 2.51 +.21 +9.1
NEurO 5.99 +.49 +8.9
WestlkCLP 22.50 +1.80 +8.7
Earthstone 4.90 +.36 +7.9
Titan Inti 4.96 +.36 +7.8
GlobPtrs 15.75 +1.10 +7.5
Losers ($2 or more)
BioXcelT n 4.36 +1.95 +80.9
Energous 7.04 +2.46 +53.7
AvadelPh 2.45 +.71 +40.8
Sphr3D grs 2.84 +.73 +34.6
GWG Hldgs 9.09 +2.22 +32.3
NovusTher rs2.00 +.48 +31.6
ErytechPn 6.94 +1.40 +25.3
Chaisma n 2.63 +.51 +24.1
MustBio n 2.83 +.53 +23.0
GoldBull n 5.46 +.89 +19.5
Losers ($2 or more)
Name
Last
Chg %Chg
Name
Last Chg %Chg
KrNwChin s21.62 -5.42 -20.0
USCF Shpei18.33 -2.79 -13.2
NaviosAc rs
3.08
-.47
-13.1
VitaminSh
4.85
-.67
-12.1
QuintEn n
3.52
-.46
-11.6
FourSeEd n
2.45
-.32
-11.5
500.com
6.79
-.70
-9.3
SuzanoP n
19.35
-1.95
-9.2
UBS 3xLCr
8.46
-.84
-9.0
MaidnH pfD
5.51
-.54
-8.9
Most Active ($1 on more)
Name Vol (00) Last Chg
FedLfeG n 11.02 -3.96 -26.4
Uxin Ltd n 6.59 -1.72 -20.7
Replimun n 11.08 -2.81 -20.2
SmaashEnt 2.65 -.53 -16.7
CollPlant n 3.67 -.67 -15.4
PingtanM 2.14 -.36 -14.4
ASVHIdn 2.15 -.35 -14.0
DNBFncI 25.84 -4.16 -13.9
IntegMed n 5.11 -.82 -13.8
LevOneBc n21.52 -3.28 -13.2
Most Active ($1 or more)
Name Vol (00) Last Chg
GenElec
1174857
7.27
-.12
BkofAm
914617
24.37
+.26
ChesEng
551637
2.21
+.02
AT&T Inc
544702
28.15
+.07
FordM
497535
7.85
Twitter
319344
28.68
+.02
LloydBkg
292445
2.50
-.01
Citigroup
285673
51.77
+.33
WellsFargo 269934
45.53
-.06
Pfizer
267897
42.85
+.66
Diary
1,541
1,271
72
2,884
2
192
4,044,581,443
AMD 1108408 17.49 -.41
Apple Inc 516066 156.15 -1.02
Microsoft 491611 101.18 +.62
Energous 401773 7.04 +2.46
MicronT 387546 31.93 +1.04
JD.com 310195 21.70 +.60
Facebook 303057 134.52 +.34
Intel 288211 46.36 +.17
Cisco 283863 42.91 +.44
SiriusXM 196161 5.73
Diary
1,478
1,449
133
3,060
3
290
2,350,359,010
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
Stocks of Local Interest
YTD YTD
Name Ex Div Yld PE Last Chg %Chg Name Ex Div Yld PE Last Chg %Chg
AFLAC S
1.04
2.3
14
44.98
+.84 0.0
Hershey
2.89
2.7
23
106.13
+.50 -6.5
AT&T Inc
2.04
7.2
5
28.15
+.07 -27.6
HomeDp
4.12
2.4
19
170.32
+2.04 -10.1
AbbottLab
1.28
1.8
30
70.63
+1.01 +23.8
Intel
1.20
2.6
17
46.36
+.17 +.4
AMD
17.49
-.41 +70.1
IBM
6.28
5.5
8
113.78
+2.39 -25.8
Altria
3.44
7.1
15
48.70
+.27 -31.8
JPMorgCh 2.24
2.3
13
97.04
+1.08 -9.3
Apple Inc
2.92
1.9
16
156.15
-1.02 -7.7
JohnJn
3.60
2.8
18
127.41
+.70 -8.8
ATMOS
1.94
2.1
17
91.20
+1.08 +6.2
KindMorg
.80
5.2
20
15.51
-.13 -14.2
AutoZone
17
843.04
+3.98 +18.5
Kinross g
25
3.24
+.10 -25.0
AveryD
2.26
2.5
26
89.32
+2.19 -22.2
Lowes
1.92
2.1
20
91.86
+.82 -1.2
BB&T Cp
1.62
3.8
12
42.98
+.15 -13.6
MagneG rs
.25
+.05 -94.8
BP PLC
2.38
6.3
11
37.73
-.33 -10.2
McDnlds
4.64
2.6
27
175.71
+1.68 +2.1
BkofAm
.60
2.5
12
24.37
+.26 -17.4
Merck
2.20
2.9
28
75.38
+1.38 +34.0
BarnesNob
.60
9.6
6.24
-.04 -6.9
MicronT
3
31.93
+1.04 -22.3
BarrickG
.28
2.0
76
13.71
+.06 -5.3
Microsoft
1.84
1.8
42
101.18
+.62 +18.3
Boeing
8.22
2.6
30
317.14
+3.21 +7.5
NorflkSo
3.20
2.1
22
148.91
+1.63 +2.8
BrMySq
1.64
3.3
50
50.41
+.38 -17.7
OfficeDpt
.10
4.1
7
2.43
-.06 -31.4
CSX
.88
1.4
9
62.06
+.34 +12.8
Penney
.97
-.08 -69.3
CampSp
1.40
4.2
12
33.50
-.75 -30.4
PepsiCo
3.71
3.4
32
109.42
+1.09 -8.8
Caterpillar
3.44
2.7
12
126.67
+1.91 -19.6
Pfizer
1.44
3.4
17
42.85
+.66 +18.3
ChesEng
4
2.21
+.02 -44.2
PhilipMor
4.56
6.8
16
66.68
-.18 -36.9
Chevron
4.48
4.1
23
109.32
+1.93 -12.7
Primerica
1.00
1.0
12
97.02
-.36 -4.5
Cisco
1.32
3.1
19
42.91
+.44 +12.0
ProctGam
2.87
3.1
23
92.02
+1.93 +.2
Citigroup
1.80
3.5
9
51.77
+.33 -30.4
RegionsFn
.56
4.2
11
13.36
-.03 -22.7
CocaCola
1.56
3.3
90
47.53
+.59 +3.6
RiteAid
1
.65
-.01 -67.3
ConAgra
.85
4.0
12
21.22
-.21 -43.7
SouthnCo
2.40
5.5
21
43.95
+.31 -8.6
Cummins
4.56
3.4
37
132.58
+1.51 -24.9
Square n
56.15
+.83 +62.0
Disney
1.76
1.7
14
106.52
+.69 -.9
SunTrst
2.00
4.0
9
49.54
+.34 -23.3
DowDuPnt
1.52
2.9
17
53.33
+1.10 -25.1
SynovusFn 1.00
3.2
11
31.41
-.40 -34.5
EnCana g
.06
1.0
10
5.81
+.02 -56.4
3M Co
5.44
2.9
26
190.70
+4.44 -19.0
Energous
7.04
+2.46 -63.8
Torchmark
.64
.9
6
74.30
+.86 -18.1
EgyTmsfr
1.22
9.5
15
12.84
-.10 -25.6
Twitter
28.68
+.02 +19.5
Equifax
1.56
1.7
16
94.13
+1.43 -20.2
Tyson
1.20
2.3
10
52.49
+.43 -35.3
ExxonMbl
3.28
4.8
13
68.94
+.30 -17.6
UtdCmBks
.64
3.0
12
21.27
-.12 -24.4
Facebook
25
134.52
+.34 -23.8
UPS B
3.64
3.7
16
97.78
+1.17 -17.9
FordM
.60
7.6
4
7.85
... -37.1
VerizonCm
2.41
4.4
7
55.15
+.71 +4.2
FrptMcM
.20
1.9
7
10.67
+.27 -43.7
Vodafone
1.74
9.0
19.30
-.26 -39.5
GenElec
.04
.6
7.27
-.12 -58.4
WalMart
2.08
2.3
53
91.59
+1.18 -7.3
GenuPrt
2.88
3.0
21
95.20
+.39 +.2
Weathflntl
.32
+.07 -92.3
HP Inc
.64
3.1
6
20.38
+.05 -3.0
WeisMk
1.24
2.7
11
46.12
-.09 +11.4
Haverty
.72
3.9
19
18.51
-.26 -18.3
WellsFargo 1.72
3.8
11
45.53
-.06 -25.0
HeliosM rs
.01
+.00-100.0
YumBrnds
1.44
1.6
32
90.96
+.97 +11.5
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: 23,138.82
Change: 260.37 (1.1%)
27,000
26,000
25,000
24,000
23,000
22,000
J
A
S
0
N
D
52-Week
Net
YTD
12-mo
High
Low
Name
Last
Chg
%Chg
%Chg
%Chg
26,951.81
21,712.53
Dow Industrials
23,138.82
+260.37
+1.14
-6.39
-6.84
11,623.58
8,636.79
Dow Transportation
9,154.24
+52.12
+.57
-13.74
-14.13
762.26
647.81
Dow Utilities
710.89
+7.38
+1.05
-1.73
-1.80
13,637.02
10,723.66
NYSE Composite
11,285.31
+81.22
+.72
-11.89
-12.20
8,133.30
6,190.17
Nasdaq Composite
6,579.49
+25.14
+.38
-4.69
-5.33
1,309.73
1,041.66
S&P 100
1,105.17
+8.22
+.75
-6.59
-7.07
2,940.91
2,346.58
S&P 500
2.488.83
+21.13
+.86
-6.91
-7.39
2,053.00
1,565.76
S&P MidCap
1,647.24
+7.46
+.45
-13.33
-13.81
30,560.54
24,129.49
Wilshire 5000
25,551.63
+184.78
+.73
-8.07
-8.49
1,742.09
1,266.93
Russell 2000
1,331.82
+2.01
+.15
-13.27
-14.02
24,760,
23,220
21,680 10 DAYS
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
229.71
-7.0
-5.4/B
+8.4/A
NL
3,000
Vanguard TtlSMIdxAdmrl
LB
203,888
61.57
-7.4
-6.2/B
+7.8/B
NL
3,000
Fidelity 500ldxlnsPrm
LB
164,099
86.56
-7.0
-5.4/A
+8.4/A
NL
0
Vanguard TtlSMIdxinv
LB
129,896
61.55
-7.4
-6.3/C
+7.7/B
NL
3,000
Vanguard TtlnSIdxinv
FB
128,269
15.01
-5.0
15.0/B
+0.8/A
NL
0
Vanguard TtlSMIdxIns
LB
123,279
61.58
-7.4
-6.3/B
+7.8/B
NL 5
000,000
Vanguard Insldxlns
LB
116,738
225.85
-7.0
-5.4/A
+8.4/A
NL 5
,000,000
Vanguard InsidxInsPlus
LB
104,731
225.87
-7.0
-5.4/A
+8.4/A
NL100,000,000
Vanguard TtlnSIdxInsPlus
FB
95,758
100.40
-5.0
-14.9/B
+0.9/A
NL100,000,000
Fidelity Contrafund
LG
91,616
10.92
-4.9
-3.3/C
+9.2/B
NL
0
Vanguard TtBMIdxAdmrl
Cl
86,606
10.40
+1.5
-0.5/B
+2.4/C
NL
3,000
Vanguard WlngtnAdmrl
MA
86,207
63.64
-4.2
-4.1/A
+6.2/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.
