About The times. (Gainesville, Ga.) 1972-current | View Entire Issue (July 18, 2020)
Nate McCullough | News Editor 770-718-3431 | news@gainesvilletimes.com The Times, Gainesville, Georgia Weekend Edition - July 18-19, 2020 Georgia jobless rate drops in June BUSINESS State unemployment claims show decrease of 27 percent last month BY JEFF GILL jgill@gainesvilletimes.com Georgia’s jobless rate dropped in June to 7.6%, the Georgia Department of Labor reported Thursday, July 16. A year ago, the rate was 3.5%. “June was the first month to show positive numbers in all major indicators since the pan demic started,” Labor Com missioner Mark Butler said. “Although it is nice to see the pendulum move in the right direction, we are not naive to the fact that we may see another tick up in claims over the next few months. “We will continue to work unemployment claims both new and continued to ensure all Geor gians are being taken care of dur ing these unprecedented times.” Unemployment claims showed a decrease of 228,209 claims, or 27 percent, in June for a total of 607,851 claims. That num ber, however, is 589,441 claims higher than they were in June 2019, according to a press release issued Thursday. The department has processed over 3 million claims since the middle of March, or when shut downs began occurring because of the COVID-19 pandemic. Of the 3,085,261 claims, 1.4 million proved valid to pay. The invalid claims could potentially be duplicate filed claims or those without enough earned wages to receive benefits, officials said. Also, the department’s jobs website, Employ Georgia, posted more than 89,068 statewide job listings during the month of June. Riding back around CLARENCE TABB JR. I The Detroit News Brian Hardman, 30, does a final inspection on a bike as Detroit Bikes is partnering with Schwinn to build 500 models of their 1965 Collegiate bike, on June 25, in Detroit. Detroit Bikes returns Schwinn production to U.S. BY SAM JONES The Detroit News City business park up for rezoning votes BY MEGAN REED mreed@gainesvilletimes.com Two more pieces of the Gainesville 85 Busi ness Park will be up for rezoning and annexa tion votes Tuesday, a step forward in the project officials hope can fill the need for additional industrial space in the city. One parcel is about 1,320 acres, while the other is about four acres. The larger tract would be rezoned to planned unit development, while the four-acre property would be annexed into the city with a zoning of planned unit develop ment. The city of Gainesville is the property owner and applicant for the requests. Plans for the business park include 5 million square feet of industrial space, and the proj ect will be built gradually over a 15 to 20-year period. The business park will have about 19 lots, ranging in size from two acres to over 100 acres. The land is near the Allen Creek Soccer Com plex, along Fullenwider Road and Allen Creek Road. A future road will connect the business park to U.S. 129. When plans for the business park were announced in fall 2018, City Manager Bryan Lackey said the city was running out of business park space and wanted to provide additional options for new or existing businesses. “It’s great to have all this activity in Gaines ville with companies wanting to expand and companies coming in.... We don’t want to turn away people that are wanting to be in our com munity,” he said in 2018. The Gainesville Planning and Appeals Board recommended approval of the requests at a June 9 meeting. The Gainesville City Council will have the final vote Tuesday, July 21. Gainesville City Council When: 5:30 p.m. Tuesday, July 21 Where: Public Safety Complex, 701 Queen City Parkway Developer looking at industrial project in Flowery Branch A developer looking to build a 750,000-square- foot warehouse/distribution center in Flowery Branch has asked the city if it could speed up the rezoning process. “They’re wanting to occupy the building by September or October 2021 and because of that, they have a very tight time frame of getting the rezoning, having the clearing (done) and then construction on the building site itself,” Flow ery Branch City Manager Bill Andrew told City Council Thursday, July 16. He didn’t name the developer, which is work ing with a Realtor in representing a company that wants to build the center. “They’re looking at a number of sites within this area,” Andrew said. He told the council he asked the developer if a rezoning application could be submitted by Aug. 1 or Aug. 15 — which would shorten the process — and “they indicated that they could.” Jeff Gill DETROIT — A Motor City bicycle maker has left its training wheels in the dust. Founded nine years ago, Detroit Bikes LLC now produces up to 10,000 bikes a year, says CEO Zak Pashak. And it’s poised this month to begin assembling 500 copies of Schwinn’s classic Collegiate cruiser in a new partnership for an American brand that traces its lineage to 1895 Chicago. “It’s a really tight schedule,” Pashak said of plans to build the revived Schwinn model. “This is the first time Schwinns have been manufactured in the U.S. in a long time. Manufacturing has been decreasing in the U.S., and this is a big step to change that. We’re going to need to step up our game for this one. But we’re ready to take on the challenge.” The Schwinn Collegiate to be pro duced in Detroit is intended to reflect the leisurely aesthetic evoked by the 1965 version, says Ryan Birkicht, senior com munications manager at Schwinn Bikes. They will be painted in classic Campus Green. A nod to the present is its eight- speed grip-shifter, an upgrade from the five-speed lever-shifter on the original. The Collegiate is expected to be priced at $998 per copy and available as early as next month through Walmart.com. “Walmart is our No. 1 retailer,” Birkicht said. The price is higher than other Schwinn models, one way the Canadian-owned Schwinn brand can assess demand for future, higher-priced American-made Schwinn products. The COVID-19 pandemic delivered set backs to many of the region’s manufac turers — automakers and suppliers, bike makers and luxury goods producers such as Shinola Detroit, which is slowly recast ing Detroit’s manufacturing image as an autos-only town. But they’re all cranking back to life in the town that taught Amer ica how to build things. “Manufacturing shut down in late March and production has just started slowly and safely picking back up, with the team continuing to ramp up production for third and fourth quarter needs,” Shinola CEO Shannon Washburn said in an email. Amid the pandemic, the luxury goods maker moved much of its stock back to distribution centers from retail locations to meet demand from online customers. Now, manufacturing is showing signs of a rebound. The Institute for Supply Man agement reported that manufacturing expanded in June after contracting the previous two months thanks to renewed hiring, increased orders and expanding production. Like Shinola, Detroit Bikes has seen growth in online sales due to retail shut down. According to Pashak, the bicycle maker has seen online sales shoot to 10 times higher than normal for this time of year, as in-person sales were not accessi ble during the initial months of lockdown. After reopening the storefront on Gris wold in Detroit, bike sales skyrocketed, quadrupling last year’s sales and selling out some of the company’s more popular models — the A-Type Commuter and the Sparrow Commuter. New inventory for these models is not expected to be avail able until September. Bicycle manufacturing in America has declined significantly in the past sev eral decades. But Detroit Bikes is eager to bring at least a part of the industry back to domestic soil, where demand for all manner of bikes and other outdoor equipment is booming amid pandemic restrictions. Stock Exchange Highlights I NYSE 12,402.74 +52.63 I Nasdaq 10,503.19 +29.36 Gainers ($2 OR MORE) Name Last Chg %Chg SunlOnl 2.00 +.51 +34.2 RosettaStn 20.02 +4.02 +25.1 EvolentH 10.14 +1.66 +19.6 BlueLinx 11.58 +1.72 +17.4 NatrIGroc 15.86 +2.34 +17.3 CentElecBr 7.47 +.95 +14.6 B&N Ed 2.51 +.31 +14.1 VirgnGal 24.05 +2.98 +14.1 NewHome 4.25 +.48 +12.7 CentEIBr B 7.57 +.78 +11.5 Losers (S2 or more) Name Last Chg %Chg ItauCorpb 4.55 -.74 -14.0 LejuHIdgs 2.77 -.36 -11.5 Diebold 5.96 -.58 -8.9 PBF Engy 8.24 -.64 -7.2 Drives pfC 12.70 -.94 -6.9 EAndinB 14.80 -1.05 -6.6 AG MtgelT 3.19 -.22 -6.5 CadencB 7.87 -.55 -6.5 PlayAGS 3.21 -.21 -6.1 WashPr pfH 8.74 -.57 -6.1 Most Active ($1 OR MORE) Name Vol (00) Last Chg FordM 807505 NorwCruis 741853 BkofAm 666121 GenElec 599314 VirgnGal 545487 NokiaCp 500564 Ambev 471807 WellsFargo391687 Carnival 279753 Boeing 261416 6.80 -.06 15.27 -.34 23.22 -.71 7.07 +.02 24.05 +2.98 4.39 +.15 2.61 -.04 24.95 -.51 15.47 -.31 175.66 -3.04 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 1,406 1,180 79 2,665 66 2 3,555,521,880 Gainers ($2 OR MORE) Name Last Chg %Chg RumblOn rs25.66 VeronaPh 10.20 Vaccinex 7.94 AllenaPh 2.16 ChckPnt 2.23 ClearPt 4.82 RelayTh n 43.98 HeatBio 2.46 ClearOne 2.88 VBI Vacc 6.17 +14.94+139.4 +5.47+115.6 +2.28 +40.3 +.60 +38.5 +.57 +33.8 +.98 +25.5 +8.93 +25.5 +.49 +24.9 +.55 +23.6 +1.16 +23.2 Losers ($2 or more) Name Last Chg %Chg LakeShBc h11.32 -2.13 -15.8 CapitalaF 2.53 -.45 -15.1 TaiwLipo 6.09 -1.04 -14.6 Virco 2.31 AehrTest h 2.09 LibTrip B h 45.61 -6.65 -12.7 Boxlight 3.67 -.53 -12.6 Euros hrs 2.75 FutFintch If 2.60 DigitalAII 3.39 .39 -14.4 .35 -14.3 .36 -11.6 .34 -11.6 .41 -10.8 Most Active ($1 or more) Name Vol (00) Last Chg HeatBio 1791868 2.46 +.49 Moderna 1030961 94.85+13.04 VeronaPh 956989 10.20 +5.47 Microvisn 832853 2.71 +.38 AmAirlines 674851 11.91 -.54 Boxlight 576311 3.67 -.53 HoughMH 531934 2.80 +.45 RumblOn rs382438 25.66+14.94 InovioPhm 380368 26.97 +2.40 UtdAirlHI 372448 33.92 -.57 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 1,808 1,221 154 3,183 111 11 4,192,439,302 Stocks of Local Interest Name Ex Div Yld PE Last YTD Chg %Chg AFLAC 1.12 3.1 11 36.22 -.15 -31.5 iBio 3.91 +.65+1,470.3 AT&T Inc 2.08 6.9 15 30.25 -.14 -22.6 InovioPhm 26.97 +2.40 +717.3 AbbottLab 1.44 1.5 53 99.25 +2.85 +14.3 Intel 1.32 2.2 20 60.00 +.86 +.3 AMD 55.04 +.12 +20.0 IBM 6.52 5.3 13 125.11 +1.10 -6.7 Altria 3.36 8.1 13 41.54 +.06 -16.8 JohnJn 4.04 2.7 25 149.35 +.10 +2.4 AmAirlines .40 3.4 4 11.91 -.54 -58.5 Lowes 2.20 1.5 32 144.39 +1.64 +20.6 Apple Inc 3.28 .9 35 385.31 -.78 +31.2 McDnlds 5.00 2.6 29 191.48 +.56 -3.1 ATMOS 2.30 2.3 19 101.06 +.51 -9.7 Merck 2.44 3.1 30 79.87 +.47 -12.2 AutoZone 211157.30 +7.98 -2.9 Microsoft 2.04 1.0 40 202.88 -1.04 +28.6 AveryD 2.32 1.9 35 121.26 +1.84 -7.3 Microvisn 2.71 +.38 +276.4 BP PLC 2.46 10.6 7 23.25 -.47 -38.4 Moderna 94.85+13.04 +384.9 BkofAm .72 3.1 8 23.22 -.71 -34.1 NorflkSo 3.76 2.0 20 188.25 +5.33 -3.0 Bionano .62 +.10 -50.2 NorwCruis 4 15.27 -.34 -73.9 Boeing 16 175.66 -3.04 -46.1 Novan .62 +.01 -80.5 Boxlight 3.67 -.53 +230.6 Onconv h .81 +.14 +112.3 BrMySq 1.80 3.0 20 60.39 +1.07 -5.9 PepsiCo 4.09 3.0 15 134.66 +.78 -1.5 CSX 1.04 1.4 17 72.16 +1.09 -.3 Pfizer 1.52 4.2 15 36.25 +.65 -7.5 CampSp 1.40 2.8 18 49.60 +.05 +.4 PhilipMor 4.68 6.2 15 75.03 -.32 -11.8 Caterpillar 4.12 3.0 12 136.90 -.63 -7.3 Primerica 1.60 1.3 14 118.57 -.61 -9.2 Chevron 5.16 5.9 12 87.19 -1.17 -27.6 ProctGam 3.16 2.5 29 125.63 +.87 +.6 Cisco 1.44 3.1 18 46.75 +.97 -1.8 RegionsFn .62 6.0 8 10.32 -.48 -39.9 Citigroup 2.04 4.1 7 50.22 -1.24 -37.1 RumblOn rs ... 25.66+14.94 +55.3 CocaCola 1.64 3.5 29 46.82 +.67 -15.4 SouthnCo 2.50 4.6 26 54.58 +.84 -14.3 ConAgra .85 2.3 24 36.58 -.02 +6.8 SynovusFn 1.32 7.1 5 18.63 -1.11 -52.5 Cummins 5.24 2.9 51 183.11 -.62 +2.3 TOP Sh rs .11 +.00 -86.1 DenburyR .23 -.01 -83.9 3M Co 5.88 3.7 22 159.83 -.67 -9.4 Disney 1.76 1.5 16 118.65 -.78 -18.0 TonixP hrs .81 +.17 -30.8 Dupont 1.20 2.2 6 54.52 -.26 -15.1 TruistFn 1.80 5.0 9 36.30 -.92 -35.5 Equifax 1.56 .9 29 166.80 +1.59 +19.0 Tyson 1.68 2.8 11 60.82 +.45 -33.2 ExxonMbl 3.48 8.0 10 43.52 -.76 -37.6 UtdAirlHI 4 33.92 -.57 -61.5 FordM 5 6.80 -.06 -26.9 UtdCmBks .72 4.0 11 18.21 -.60 -41.0 GenElec .04 .6 7.07 +.02 -36.6 UPS B 4.04 3.4 20 118.55 -1.19 +1.3 GenuPrt 3.16 3.6 16 87.86 -.78 -17.3 VerizonCm 2.46 4.4 13 56.30 +.52 -8.3 GlbeLife .75 1.0 6 75.32 -.65 -28.3 VeronaPh 10.20 +5.47 +77.4 GlobusM .16 -.07 -83.5 VirgnGal 24.05 +2.98 +108.2 HP Inc .70 4.0 5 17.55 -.28 -14.6 Vodafone .97 6.0 16.28 +.32 -15.8 Haverty .60 4.4 14 13.75 -.24 -31.8 WalMart 2.16 1.6 76 131.74 -.46 +10.9 HeatBio 2.46 +.49 +417.9 WeisMk 1.24 2.4 12 50.71 +.84 +25.2 Hershey 3.09 2.3 30 136.40 +1.95 -7.2 WellsFargo 2.04 8.2 6 24.95 -.51 -53.6 HomeDp 6.00 2.3 26 260.38 +2.30 +19.2 YumBrnds 1.88 2.1 32 90.57 +.88 -10.1 HoughMH 2.80 +.45 -55.2 Zomedica .16 +.00 -50.8 YTD Name Ex 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: 26,671.95 Change: -62.76 (-0.2%) 30,000 27,000 24,000 21,000 27,080 26,300 25,520 10 DAYS J F M A M J J 52-Week Net YTD 12-mo High Low Name Last Chg %Chg %Chg %Chg 29,568.57 18,213.65 Dow Industrials 26,671.95 -62.76 -.23 -6.54 -1.78 11,359.49 6,481.20 Dow Transportation 9,900.09 +108.70 +1.11 -9.18 -6.64 963.80 593.52 Dow Utilities 828.60 +19.08 +2.36 -5.75 +1.04 14,183.26 8,664.94 NYSE Composite 12,402.74 +52.63 +.43 -10.86 -5.41 10,824.79 6,631.42 Nasdaq Composite 10,503.19 +29.36 +.28 +17.06 +28.93 1,522.26 1,015.63 S&P 100 1,484.71 +.36 +.02 +2.95 +12.87 3,393.52 2,191.86 S&P 500 3,224.73 +9.16 +.28 -.19 +8.34 2,109.43 1,181.96 S&P MidCap 1,836.55 +7.97 +.44 -10.98 -5.21 34,616.78 21,955.54 Wilshire 5000 32,906.97 +101.10 +.31 +.06 +7.51 1,715.08 966.22 Russell 2000 1,473.32 +5.76 +.39 -11.70 -4.82 Mutual Funds Name Total Assets Obj (SMIns) NAV Total Return/Rank 4-wk 12-mo 5-year Pet Load Min Init Invt Vanguard 500ldxAdmrl LB 303,398 297.80 +3.7+10.2/A +10.9/A NL 3,000 Vanguard TtlSMIdxAdmrl LB 236,273 79.40 +3.8 +9.3/B +10.3/B NL 3,000 Fidelity 500ldxlnsPrm LB 229,012 111.87 +3.7+10.2/A +10.9/A NL 0 Vanguard TtlnSIdxInv FB 153,177 16.56 +4.0 +0.3/C +3.1/B NL 0 Vanguard TtlSMIdxIns LB 150,306 79.42 +3.9 +9.3/B +10.3/B NL 5,000,000 Vanguard TtlSMIdxInv LB 132,571 79.38 +3.8 +9.2/B +10.2/B NL 3,000 Vanguard TtlnSIdxInsPlus FB 118,800 110.77 +4.0 +0.4/C +3.2/A NL 100,000,000 Vanguard InsIdxInsPlus LB 118,598 287.84 +3.7+10.2/A +10.9/A NL 100,000,000 Vanguard TtBMIdxAdmrl Cl 116,340 11.69 +1.2 +9.9/B +4.5/B NL 3,000 Vanguard Insldxlns LB 106,268 287.82 +3.7+10.2/A +10.9/A NL 5,000,000 Fidelity Contrafund LG 99,432 15.56 +5.5+20.0/C +14.0/B NL 0 Amer. Fnds GrfAmrcA m LG 99,332 57.49 +5.6+20.5/C +13.3/C 5.75 250 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 reinvest ed. 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.
