Consumers Losing Confidence in Economy

“Any hopes for improvement in consumer confidence during the summer months can be forgotten,” Tim Graefff, director of MTSU’s Office of Consumer Research, reported in the Middle Tennessee Consumer Confidence Index released last week.

[ Read more at Murfreesboro Post ]

Microenterprise Loans Can Have Big Impact

Microenterprise Loan Fund: Small business lending is available from federal grant money through the City of Murfreesboro working with Community Development Department and Tennessee Small Business Development Center. 

"The Small Business Development Center ... provides free consultation on starting businesses to any resident.... Gene Osekowsky, a 15-year counselor at the Small Business Development Center that leases an office at the Rutherford County Chamber of Commerce, ... examines marketing and sales potential, record keeping and what kind of money is needed to get the business started.... Part of his service will include following up with those getting loans to make sure they're carrying out their business plan or if they need assistance in revising the plan." 

[Daily News Journal article]

Video Citing BERC's Nashville Health Care Study Wins Award

http://www.mtsu.edu/berc

This video developed by MTSU students citing BERC's Nashville Health Care Study won an American Marketing Association award.

Destination Rutherford Nets $2.5M in Pledges

http://tinyurl.com/3qg8wgl

Started some 8 years ago when a BERC study found the county's average wages weren't rising, Destination Rutherford officials said Tuesday they've raised 63 percent of a $4 million goal as they unveiled a five-year mission to create 5,000 jobs here with projected earnings of $219 million. The jobs initiative calls for creating 4,396 indirect positions with a $166 million payroll for a total impact of 9,396 jobs and $385 million in earnings by sometime in 2015. More than 50 percent of the jobs are expected to pay above the average Rutherford County wage of $41,964, which is about $1,600 more than the state average. [Daily News Journal, May 10)

Updated Obituary: Dr. Richard Hannah

Dr. Richard Hannah

Middle Tennessee State University mourns the death this week of Dr. Richard Hannah, a professor in the Department of Economics and Finance who served as an international goodwill ambassador for our students.

Hannah, 59, whose work as part of the University Honors College included development of the first Buchanan Fellows macroeconomics course, joined MTSU in 1992. The Buchanan Fellowship, named for Nobel Prize laureate and MTSU alumnus James Buchanan, is the highest award given to students entering the Honors College.

“Richard was a distinguished professor, beloved by his students and colleagues and greatly valued for his service to our University,” said MTSU President Sidney A. McPhee. “His scholarship and leadership helped make MTSU stronger and we are deeply saddened by his passing.

“Our sympathies go out to Richard’s wife, Emma, and the entire family,” the President said.

Hannah traveled extensively overseas as a goodwill ambassador for the University. His most recent trip was to Bangladesh in December 2010 to meet with executives of Grameen Bank, founded by Nobel laureate and former MTSU professor Muhammad Yunus, to arrange for more MTSU student internships.

“Dr. Hannah believed he could inspire MTSU students by giving them examples of individuals like Dr. Buchanan and Dr. Yunus, and I believe he succeeded in this endeavor,” said John Vile, dean of the Honors College. “We are devastated by the loss. “

Hannah was the Honors College’s resident faculty member from the Jennings A. Jones College of Business and taught at the graduate and undergraduate levels at the University. For a decade, he was the host of “Inside Academia,” a television program produced at MTSU on higher education.

He also created the first online graduate-level Managerial Economics course at MTSU.

Hannah received his Bachelor of Arts degree in history from UT-Chattanooga and another Bachelor of Arts degree in German at MTSU, where he also earned his Master of Arts degree in economics. He received his Ph.D. degree in economics from the University of Utah.

Prior to becoming a full-time professor, Hannah served as director of MTSU’s Center for Economic Education and worked for the Tennessee Valley Authority.

[earlier note from Dean James Burton]

Obituary: Dr. Richard Hannah

Dr. Richard Hannah

It is with deep sorrow that we inform you of the passing of Professor Richard Hannah.

Dr. Hannah, Professor of Economics, was found dead of apparent natural causes in his Murfreesboro home on Wednesday by Murfreesboro Police.  Department Chair, Dr. Charlie Baum, had become concerned after Dr. Hannah missed classes on Monday and Wednesday and had initiated efforts to locate Dr. Hannah. 

Dr. Hannah was a valued member of the faculty and will be greatly missed by his colleagues and students.

We will provide additional information as it becomes available. 

—Dean Jim Burton


[update from President Sidney McPhee]

Opry Mills to Benefit Jobless Rate

http://tinyurl.com/3e5v3l5
From the Tennessean: "The dramatic impact here of Opry Mills' reopening would be sparked because the 3,000 new jobs would end up putting an additional 1,500 people to work through indirect jobs, meaning a total of 4,500 jobs pumped into the labor market, said Arik, associate director of the Business and Economic Research Center at MTSU."

Tennessee Jobless Rate Rises

Japan's Disasters May Have Impact

From the Tennessean March 18:

"In the short-term, I don't expect to see any layoffs related to the Japanese disaster," said economist Murat Arik, associate director of the Business & Economic Research Center at Middle Tennessee State University in Murfreesboro.

Still, the situation is fluid, and to the extent that local auto-sector firms need parts or production from Japan, they could be forced to close temporarily until that supply returns, cautions Steven Livingston, editor of a global trade newsletter and a political science professor at MTSU.

[article]

BERC in the News

David Penn, director of the Business and Economic Research Center, is quoted in the following recent articles on the area economy:

• Local jobless rate up, but good sign ahead
• Green jobs take root in Tennessee
• Home sales dip in Feb.

Rise in Nashville-Area Jobless Rate Seen Only as a Blip

From the Tennessean: But most economists attribute the spike to seasonal changes such as the layoff of temporary workers or the loss of extra retail employees after Christmas — not a renewed economic swoon. "I don't attribute the increases to the economy getting worse," said economist David Penn, director of the Business and Economic Research Center at Middle Tennessee State University. [article]

Take a Stand: Stop Bullying

March 17, 6-8 p.m., BAS State Farm Room

National expert on workplace bullying Dr. Gary Namie will speak on March 17, 2011, from 6 to 8 p.m. in the State Farm Room in the Business and Aerospace Building on the campus of Middle Tennessee State University. Dr. Namie taught the nation's first university course on workplace bullying. He was the expert witness in the nation's first bullying trial in Indiana with the verdict upheld by the state Supreme Court.

Dr. Namie and his wife, Dr. Ruth Namie, are the most recognized individuals associated with bullying in the U.S., due in large part to the eight public websites devoted to education about bullying for individuals, lawmakers, unions, and employers. Their work has been featured on the Today Show, Good Morning America, CNN, NPR, and in print.

Dr. Namie directs a national network of state coordinators [the Healthy Workplace Campaign], acting as citizen lobbyists, who work to pass into law the anti-bullying Healthy Workplace Bill.

This event, free and open to the public, sponsored by the Distinguished Speaker Series and the Jennings A. Jones College of Business. For more information, contact Jackie Gilbert, 615-898-5418. More information regarding bullying, civil discourse, and respectful interaction can be found at OrganizedforEfficiency.com.

[Download promotional flyer pdf.]

Jones College Research Cited by Atlanta Fed

The Federal Reserve Bank of Atlanta's blog Southpoint cited research by MTSU's Office of Consumer Research and Business and Economic Research Center in its post "Confidence Improving in the Region": 

• In their December publication, Dr. Timothy Graeff writes that: "On the positive side, consumers feel slightly better about the current economy. The current situation index rose modestly to -90 from -93. The percent who said that business conditions in the country as a whole are 'good' gained only slightly to 7 from 5, but the percent who said that business conditions are 'bad' dropped to 34 from 41."
• As an aside and a plug for our friends at MTSU's Business & Economic Research Center, see their heat maps of Tennessee's employment picture. They also provide similar maps for major state metro areas, including Nashville."

Poll: Consumers More Optimistic about Future

Consumer confidence in Middle Tennessee rose significantly this week, with consumers polled by telephone expressing more optimism about the economy, the job market and their stocks.... "Even though consumers are more confident and more hopeful about the future, the future economy and future jobs, they don't see it right now," said Timothy Graeff, director of MTSU's Office of Consumer Research, which conducts the consumer poll periodically. [Daily News Journal article]

Wall Street Journal Writer Slated to Speak at MTSU

Stephen Moore to Discuss Government, Taxes, State of National Economy

Stephen Moore, senior economic writer for the Wall Street Journal and a member of the WSJ’s editorial board, will lecture on current events Thursday, Feb. 10, at 7:30 p.m. in the State Farm Lecture Hall of MTSU’s Business and Aerospace Building.

Moore is the author of five books, most recently Bullish on Bush: How the Ownership Society is Making America Richer. He also is the former president of the Free Enterprise Fund, a nonprofit advocacy group for limited government and tax relief, and the founder and former president of the Club for Growth, a political action committee committed to less government and lower taxation.

             

A former consultant to the National Economic Commission and ex-research director for the Commission on Privatization under President Regan, Moore’s resume also includes stints at two Washington-based think tanks, the Heritage Foundation and the Cato Institute.

             

A question-and-answer session will follow the lecture. This event, which is free and open to the public, is sponsored by the Jennings A. Jones College of Business, the Wright Travel Chair in Entrepreneurship, and the Young America’s Foundation. For more information, contact Doug Tatum at 615-898-2785 or dtatum@mtsu.edu.

Tracking Tennessee's Economic Recovery

MTSU's Business and Economic Research Center partners with Tennessee Advisory Commission on Intergovernmental Relations to provide up-to-date information tracking Tennessee's economic recovery including key indicators for the state and 10 MSAs as well as current business headlines. [Tracking Tennessee's Economic Recovery site]

Rapidly Changing Job Market Brings Hopes, Fears

From the Tennessean: Murat Arik, associate director of the Business and Economic Research Center at Middle Tennessee State University, said some manufacturing jobs soon will be created in Tennessee as Volkswagen starts up in Chattanooga and Hemlock Semiconductor Group gets under way in Clarksville. [more]

Tennessee Housing Price Index

Updated through 3rd Quarter 2010 for the state, 10 MSAs, non-metro areas, and U.S.

• Housing Price Index
• Other Indicators

2010 Fall Accounting CPE Day Seminar

Thursday, Dec. 9
8:00 a.m. to 4:45 p.m.
Cost: $150
Business and Aerospace Building, State Farm Lecture Hall
Credit: Up to 8 hours CLE

• Brochure
• Agenda
• Online Registration
• Directions

Sessions include:

• Tennessee Ethics, Mark Crocker, executive director, TN Board of Accountancy
• General Ethics, James E. Burton, dean, Jones College of Business

MTSU Department of Accounting faculty presentations:

• GASB Update, G. Robert Smith Jr. (Smitty), chair
• Legality of Accounting Topics, Sandy Benson, Business Law
• FASB Update, Paula Thomas
• Accounting for Gift Cards, Charles Kile
• Issues in Taxation, Tim Koski
• Constitutionality of SOX (Sarbanes-Oxley), Lara Daniel, Business Law
• International Financial Reporting Standards, Jeannie Harrington

G. Robert Smith Jr. (Smitty), Chair, MTSU Department of Accounting 

Global Entrepreneurship Week Nov. 15-21

The Department of Business Communication and Entrepreneurship and Wright Travel Chair in Entrepreneurship in the Jennings A. Jones College of Business in conjunction with the College of Mass Communication, Department of Recording Industry, and the MTSU School of Music will celebrate Global Entrepreneurship Week from November 15 – 19, 2010.


[schedule] 

MTSU Global Entrepreneurship Week has a number of outstanding events planned for the week. On the finále day, Nov. 19, nationally syndicated columnist Deroy Murdock will speak on Obama vs. Free Enterprise. Murdock's columns appear in the New York Post, Boston Herald, Washington Times, National Review, Orange County Register, and many other newspapers and magazines in the U.S. and abroad. His political commentary has aired on ABC's Nightline, NBC Nightly News, CNN, Fox News Channel, MSNBC, PBS, other television news channels, and numerous radio outlets. 

Also speaking at Friday’s event will be Sheilah Griggs, vice president of Point 3 Media and executive director of Ladies Who Launch. Griggs has a diverse real-world background in public relations, media relations, and marketing. Leading the Nashville chapter of Ladies Who Launch, Sheilah gives her heart to inspire entrepreneurship and creativity as a lifestyle. While Sheilah is a sought-after motivational speaker, the Point 3 office is consistently the backdrop for workshops providing essential resources for women to take their project to the next level. 


Other events include local and national speakers as well as a viewing of the film Ten9Eight, which will be shown in the Keathley University Center. Ten9Eight is a thought-provoking film that tells the inspirational stories of several inner-city teens (of differing races, religions, and ethnicities), from Harlem to Compton and all points in between, as they compete in an annual business plan competition run by the Network for Teaching Entrepreneurship (NFTE). 


Details 

Events will be held in the Business and Aerospace Building and Keathley University Center. The public is invited to attend. Off-campus visitors may obtain a campus map and parking pass at the Linebaugh Public Library, 2nd Floor Reference Department, 105 W. Vine Street, Murfreesboro, Tennessee. For further information call the BCEN Department at 615.898.2902. 

Culture Fest 2010

Are you interested in learning more about your neighbors and fellow classmates?  Come to Culture Fest 2010, hosted by Students in Free Enterprise (SIFE).  Culture Fest will be held on Thursday, November 18th from 6-9PM in the Tom H. Jackson Building on MTSU’s campus. 

The purpose of this free event is to raise awareness and acceptance of people of all cultures and bring everyone together for a night of performances, speakers, fellowship, and a taste of the great things other cultures have to offer.

There will be booths and speakers representing various cultures.  Entertainment will be provided by a Brazilian dance group and MTSU students performing the Salsa.

To delight the palette, three local restaurants will provide samples of regional cuisine.  Carmen’s Taqueria, Samurai’s Cuisine, and Pad Thai are official sponsors of Culture Fest 2010. Each person attending will have the opportunity to win door prizes.

Students in Free Enterprise (SIFE) is a network of MTSU students and business leaders working together for a better world through the positive power of business.