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Economic Week: July 12

By Tony Stevenson/SWBC Mortgage

The DOW plunged forward above its 10000 mark causing some investors to have a little breathing room. This was the best performance of stocks in a year.   Investors were cheered by strong June retail sales and optimism regarding second quarter earnings that helped power the DOW’s come-back in recent days.  Granted, we are still in  the throngs of one of the “fits and starts” of our economic recovery.  

Stores deepened discounts more than planned in June to draw recession-scarred shoppers.  Junes  Retail sales rose 3% compared with a 5.1% declined a year ago.  The next  Retail Sales report  that will be interesting to watch is the back-to-school shoppers for end of July and August and what discounts retailers are offering then.

Kudos to San Antonio’s Valero Energy Corp. and USAA as they  both ranked in Fortune’s 500 for large companies.  Valero  ranked 26th and USAA ranked 135.  A local Texas Hill Country Company-Tootie Pie Co. Inc., has had it’s stock increase 171.43% since June 30th.  Besides good pie, we all could use a lesson in marketing from them. In a  cash-strapped economy, folks are still buying their pies.  I just paid around $30 for an apple pie.  What you don’t know-is that it weighs an impressive 5lbs. and is delicious to boot.

 On a smaller note,  Johnson City is investing in its youth by providing a neutral and safe haven for Blanco County youth where they can enjoy free food and entertainment with their friends. The YCAP (Youth Community Assistance Program) will be renovating their new home at the old Cox Ford Motor Company building at the corner of hwy 290 and Nugent rd.  Programs and initiatives such as these throughout  San Antonio and the Texas Hill Country are reason enough why folks are wanting to move here so they can  afford the same pleasures for their children.  As the old saying goes, “build it and they will come.”


July 13, 2010 - Posted by | Fredericksburg TX

1 Comment

  1. Thanks for the nice comments about our efforts at Tootie Pie Company. People ask us all the time “where can I get Tootie Pie in Fredericksburg”? Well, you can now get it at the Walgreens in Fredericksburg. So, please go out and support your fellow Hill Country folks and buy a Tootie Pie at Walgreens!

    Comment by Don Merrill | July 13, 2010

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