Roswell Daily Record
Vol. 120, No. 260 50¢ Daily / $1 Sunday
INSIDE NEWS
THE RIVALRY RENEWS
THE VOICE OF THE PECOS VALLEY
October 28, 2011
Summer growth calms recession fears
WASHINGTON (AP) — A summer of modest economic growth is helping dispel lingering fears that another recession might be near. Whether the strength can be sustained is less certain. The economy grew at an annual rate of 2.5 percent in the July-September quarter, the Commerce Department said Thursday. But the growth was fueled by Americans who spent more while ear ning less and by businesses that
FRIDAY
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invested in machines and computers, not workers. The expansion, the best quarterly growth in a year, came as a relief after anemic growth in the first half of the year, weeks of wild stock market shifts and the weakest consumer confidence since the height of the Great Recession. The economy would have to grow at nearly double the third-quarter pace to make a dent in the unemployment rate, which has
stayed near 9 percent since the recession of ficially ended more than two years ago. For the more than 14 million Americans who are out of work and want a job, that’s discouraging news. And for President Barack Obama and incumbent members of Congress, it means they’ll be facing voters with unemployment near 9 percent. “It is still a very weak economy out there,” said
David Wyss, former chief economist at Standard & Poor’s. For now, the report on U.S. gross domestic product, or GDP, sketched a more optimistic picture for an economy that only two months ago seemed at risk of another recession. And it came on the same day that European leaders announced a deal in which banks would take 50 percent losses on Greek debt and raise new capital to
TOP 5 For The Last 24 Hours
SPORTS
Zombies take over ENMU-R Mark Wilson Photo
Joseph Martinez receives a flesh-eating look just in time for Halloween during the Zombie Workshop and Costume Contest Thursday evening at ENMU-R.
VANESSA KAHIN RECORD STAFF WRITER
It was a thriller night at the Performing Arts Center at Easter n New Mexico UniversityRoswell, Thursday, as horror and theater aficionados learned how to get that just-out-of-thegrave look. Gearing up for the college’s presentation of Tim Kelly’s “The
COYOTES BOUNCE BACK
After Tuesday’s performance against Artesia, the Roswell volleyball team was eager to bounce back against archrival Goddard. And the Coyotes bounced back in a big way, sweeping three straight sets — 25-14, 25-17, 25-22 — from the Rockets for their 12th win of the season. - PAGE B1
TODAY’S OBITUARIES • • • • •
Norris Weed Vivian J. Morgan Mallerie Akin William D. Wilson Pauline M. Owen - PAGE A7
HIGH ...62˚ LOW ....40˚
TODAY’S FORECAST
CLASSIFIEDS..........B5 COMICS.................B3 ENTERTAINMENT.....B8 FINANCIAL .............B4 GENERAL ..............A2 HOROSCOPES ........A8 LOTTERIES ............A2 OPINION ................A4 SPORTS ................B1 WEATHER ..............A8
INDEX
See FEARS, Page A3
JULIA BERGMAN RECORD STAFF WRITER
WEB
INSIDE
Stocks surged on the European deal and maintained their gains after the report on U.S. growth was released. The Dow Jones rose 340 points to close at 12,209. The Dow hadn’t closed above 12,000 since Aug. 1. The Standard & Poor’s 500 index is close to having its best month since
Growth receipt tax is an essential element to future success
The 52nd edition of the annual Goddard vs. Roswell rivalry kicks off at 7 p.m. tonight at the Wool Bowl. The Daily Record has the big game covered from top to bottom as the Rockets and Coyotes prepare to renew their rivalry. - PAGE FB1
• One dies in car accident • Search finds toxic mix of meth and filth • Police invade wrong house • Wienermobile lands in Roswell • For GHS, it’s just 1 more game
protect against defaults on sovereign debt.
Zombie,” to be shown next month, the theatre department invited the community for a special zombie makeup tutorial at the PAC. This was followed by a costume contest in which contenders vied for new mp3 players. The undead have long playlists. Standing before a crowd,
makeup tools in hand, ENMU-R instructor Dallas Jeffers-Pollei and actor Dominic Batista accepted volunteers willing to wear zombie makeup the rest of the night. They started with younger contenders, who got less makeup for the sake of parents who may have resented their children getting a little too
The addition of a Municipal Infrastructure Growth Receipts Tax to the city’s current gross receipt tax is an essential element to Roswell’s future success, according to Mayor Del Jurney. Jurney is reintroducing the proposal for the additional tax, which has not passed in the past two attempts. “It’s not all about today. It’s about five years from now, ten years from now, fifteen years from now. This investment in the community, that we’re asking the citizens to make, is going to be as important as the investment that they made back in the 1940s when they purchased water rights,” Jurney said. The addition of the GR T would result in an increase of the city’s current gross receipts tax, which would shift from 7.125 percent to 7.25 percent or 12.5 cents for every $100 spent. It would apply to all taxable goods, excluding food or medicine, and is projected to create revenues of $1.2 million annually. If the initiative is passed, the GR T would go into effect July 1 2012. A committee of 13 members of the
First cold front of Grant to increase exportthe season arrives ing small business products The National Weather Service in Albuquerque predicts
unusual chilly weather with temperatures hovering
around 39 degrees through today for Chaves County.
Thursday, mid-day temperatures had dropped to the
upper 30s in an unusual drop at this time of year from
Wednesday’s sunny day. Temperatures are 22 degrees below normal. This type of drop was due to a cold front
moving from Colorado which was hit by its first significant
snowstorm of the season.
In highway conditions locally, U.S. 54 was under a
severe weather watch due to accompanying high winds
early Thursday morning.
Those with outdoor sensitive plants and agricultural
interests are warned to watch the near freezing drop.
See ZOMBIES, Page A3
BY DALE ANN DEFFER RECORD NEWS WRITER
A grant to support small businesses develop more products and increase exporting from New Mexico into Mexico has been announced by New Mexico Small Business Development Center representatives this week. Flo Dow, assistant director of marketing of the New Mexico Small Business Development Center teamed with Carl Kallansrud whose office is at the Eastern New Mexi-
co University campus to announce available assistance geared to local Roswell businesses. New Mexico Small Business Development Center helps new businesses get started in various ways through the Small Business Jobs Act funded by the federal government. Currently, the budget is set at approximately $3 million. State funding also provides money, however recently this has been cut by 15 percent. “This is a very difficult
See RECEIPT, Page A3
time,” Carl Kallansrud commented to the Roswell Daily Record referring to the amount of businesses coast to coast who are forced to close their doors or announce Going Out of Business sales. “We want to help before they get to that point,” he added.
Small Business Development helps people get started when a business is just an idea. “We help them get a business license, with financing, managing employees and
See PRODUCTS, Page A3
European debt deal lifts Dow by almost 340 points NEW YORK (AP) — An agreement to contain the European debt crisis electrified the stock market Thursday, driving the Dow Jones Industrial average up nearly 340 points and putting the Standard & Poor’s 500 index on track for its best month since 1974. Investors were relieved after European leaders crafted a deal to slash Greece’s debt load and prevent the crisis there from engulfing larger countries like Italy. The package is aimed at pre-
venting another financial disaster like the one that happened in September 2008 after the collapse of Lehman Brothers. But some analysts cautioned that Europe’s problems remained unsolved. “The market keeps on thinking that it’s put Europe’s problems to bed, but it’s like putting a three-year-old to bed: You might put it there but it won’t stay there,” said David Kelly, chief market strategist at J.P. Morgan Funds. Kelly said Europe’s debt
problems will remain an issue until the economies of struggling nations like Greece and Portugal grow again. Commodities and Treasury yields soared as investors took on more risk. The euro rose sharply against the dollar. Stronger U.S. economic growth and corporate earnings also contributed to the surge. The government reported that the American economy grew at a 2.5 percent annual rate See DEBT DEAL, Page A2
AP Photo
Specialist James Denaro, right, works at his post on the floor of the New York Stock Exchange.