B2 — Wednesday, Sept. 16, 2015
Sonora, California
THE UN' DEMO CRAT
Business Last Trade 16 599.85
DowJones Ameriprise
Agle
Bank of America Big 5 Big Lots Chevron Cisco Systems Comcast
cvs
Ford Harley-Davidson
Previous Week 16 492.68
52-Week Range 15 370.30 - 18 351.40
Last
Previous
5 2 - W eek
P/E
DIV
109.84 116.28 32.86 16.31 11.75 44.53 77.17 25.89 57.14 101.60 14.31 54.99
111.07 112.31 33.14 16.16 11.51 46.95 76.84 26.30 57.08 102.14 13.67 55.76
95.92-138.26 92.00-134.54 30. 97-36. 45 14.60-18.48 9.19-15.47 38.15-51.75 69.58-125.70 22. 49-30. 31 49. 33-64. 99 77.40-113.65 10.44-16.77 50. 64-70. 41
12.64 13.45 32.47 17.04 17.25 16.94 11.91 14.85 16.89 24.56 15.45 14.74
2.68 2.08 1.88 0.20 0.40 0.76 4.28 0.84 1.00 1.40 0.60 1.24
INTEREST
NA$0AQ Hewlett Packard Intel Jack in the Box Kohl's Lowe's McDonald's Oak Valley Pet Smart PGIkE Rite Aid Safeway Sears
months to see if China is just a ripple in the global economy or the precursor of a bigger storm," Swonk said. Likewise, Sung Won Sohn,an economics professor at California State University, Channel Islands, thinks the Fed will delay a hike. "A quarter-point won't mean much to the U.S. economy, but it could mean significant additional turbulence in emerging markets such as Brazil, Indonesia and India, which are already seeing sizable outfiows of capital," Sohn said. On the other side of the debate is Mark Zandi, chief economist at Moody's Analytics, who thinks the Fed will lift its rate by a quarter-point. "Given that the economy is strong and rapidly approaching full employment, zero interest rates don't make a whole lot of sense," Zandi said. 'The longer they wait, the more uncertainty and volatility they are creating in financial markets." One reason for the likely gradual pace of rate hikes is that Fed ofllcials want to
Previous Week 4,636.10
52-Week Range 4 116.60 - 5 231.94
Last
Previous
5 2 - W eek
P/E
DIV
27.11 29.73 77.84 50.47 69.44 98.19 9.72 82.98 48.80 8.54 35.10 25.00
27.59 29.50 79.79 51.66 69.31 96.78 9.72 82.98 48.78 8.27 35.10 26.81
24.85-41.10 24.87 -37.90 61.73-99.99 49.09-79.60 49.85-76.25 87. 50-101. 88 8.87-11.75 N/A 43.76-60.21 4.42-9.47 N/A 19.08-48.25
11.10 12.60 29.84 13.22 23.57 22.85 12.07 N/A 16.94 4.16 N/A N/A
0.70 0.96 1.20 1.80 1.12 3.40 0.22 0.78 1.82 0.00 0.92 N/A
make sure the new machinery they will deploy to control rates will work effectively. Before the Great Recession, the Fed would controlitsfederal funds ratethe rate banks charge each other for overnight loans — by adjusting how much money the banks held. To lower rates, the Fed would buy Treasurys held by the banks. And the banks would use the money they received to step up lending. If the Fed wanted to raise shortterm rates, it would sell Treasurys to the banks, thereby reducing the money the banks held and driving loan rates up. But all the bond buying the Fed did to cut rates left banks swimming in reserves. So the Fed needs other tools to infiuence rates. A key plan is to raise the interest the Fed pays banks on their reserves. The idea would be to set a floor on interest the banks charge their customers: Banks wouldn't be willing to lend at lower rates than they' re receiving from the Fed. This could have the effect of reducing lending.
Continued from Page Bl
Last Trade 4 860.52
Yet economists generally say the effects of a series of small rate hikes will be negligible. David Jones, an economist and Fed historian, thinks a 1 percentage point increase in the Fed's rate would cause the yield on the 10-year Treasury note to rise only to about 3 percent by the end of 2016, from 2.2 percent now. That would mean only slightly higher m ortgagerates— not enough toderail the housing recovery. The dollar, which has risen sharply in the pastyear, could also increase further, which could slow exports. American producers have already suffered a slowdown in exports from the dollar's strength and weakness in overseas markets. Still, many economists predict little initial reaction to the Fed's first rate hike in nine years. A modest rate has likely already been discounted by investors, they say. "So long as the Fed doesn't send a signal that it is going to start moving ratesup more aggressively,I don'texpect any big changes in stocks, bonds or currency levels," Zandi said.
Got a $100M tax bill? Your check is no good at IRS WASHINGTON (AP) No checks, please. Starting next year, your check won' t be any good at the IRS — if you' re making a tax payment of $100 million or
their tax p ayments elec- the N a tional T a xpayers highest incomes. These high tronically. Or write multiple Union, said: "When our in- rollers had an average inchecks for less than $100 debted federal government come of nearly $336 million million apiece. turns down large checks in 2012,the latest year for Conservatives have been for fear offraud or mis- data. Their average tax bill complaining for years that handling, it's time to revise was $56 million. more. President Barack Obama processing procedures and A corporation would have The IRS says it will reject is trying to stick it to the security rather than incon- to make nearly $300 million all checks for more than rich,regularly proposing to veniencingor deterring tax- in taxable profits to have a $99,999,999 because check- raise their taxes. Now, they payers." tax bill of $100 million. InApparently, people send- vestors who get the bulk of processing equipment at say, the Obama administrathe nation's Federal Re- tion is making it harder for ing huge checks to the fed- their i n come from c apital serve banks can't handle the super-rich to pay those eral government is a grow- gains would have to make checks that big. taxes. ing problem. about $500 million in tax"If Obama really gets Checks of $100 million or The Treasury D epart- able income to have a tax bill more have to be processed mean, he's going to make ment says it has noticed an that big. by hand, increasing the them bring in pennies or increasein federalagencies On Capitol Hill, there was risk of theft, fraud and er- nickels," said anti-tax guru trying todeposit checks of little sympathy for people rors,according to a pair of Grover Norquist, president $100 million or more. This who will no longer be able to memos from the IRS and of Americans for Tax Re- year, th e I R S a c cepted write enormous checks to the the Treasury Department. form, in a bit of tongue-in- 14 checks for more than government. "I havea lot ofenvy,"said As a result, the richest cheek hyperbole. $99,999,999. among us will have to wire Pete Sepp, presidentof The Federal Reserve says Rep. Joe Crowley, D-N.Y. "I most commercial banks can' t don't know if I have symprocess checks with amounts pathy for someone who' s that stretch for more than 10 required to pay that kind of digits, including cents. The taxes." Fed says federal agencies Rep. Chris Van Hollen, have been prohibited from D-Md., said he wishes he depositing checks of $100 made enough money to pay million or more for years. $100 million in taxes. "It sounds to me like these Apparently, the IRS didn' t get the memo. people could afford to pay The IRS declined to com- electronically," Van Hollen e 4W + ment even though the tax said. agency's memo urged ofN early 90percent of inficials to spread the word dividuals already file their about the check limit "in as federal taxes electronically, many media forms as pos- according to the IRS. sible between now and Dec. Norquist saw irony in a 31, 2015." government facing a defiThe IRS didn't reveal who cit rejecting large sums of actually writes a check for money. "You' re trying to write a $100 million, whether they were individuals or busi- $100 million check to the nesses. Confidentiality laws government an d t h ey' re prevent those kinds of dis- treating you like dirt?" he closures. Very few individu- said. "These are your cusals pay that much in federal t omers. If t h i s wa s L a s income taxes. Vegas, they'd give you the The 49er Festival returns to downtown Groveland Each year, the IRS tracks suite and a bottle of chamon Saturday. The annual event includes a parade, the 400 taxpayers with the pagne for free." live music, chainsaw artist competition, and a chili and salsa cook-off.
Coming up in
wee en ee
POUR
/ 4
"Always ... Patsy Cline" opens Friday at the Fallon House Theater in Columbia State Historic Park.
"God of Carnage" makes its foothills debut this week at Black Bart Playhouse in Murphys.
Also: A calendar of events, dining guide, art, film, theater, music and much more. Brought to you each Thursday by
HE NION EMOCRAT
THE MOTHER LODE'S LEADING INFORMATION SOURCE
Advertising will be accepted until the Thursday prior to publication
deeply rewarding to be able to help students gain imporContinued from Page Bl tant skills as they find their way into the culinary profesowner Eric Davis said. "We sion," Davis said. have a large contingent of The Columbia College craft beer enthusiastsas Foundation said it's thankwell as interested novices ful to the business for hosthere in Sonora." ing the fundraiser event. If the event is successFunds will go toward the ful, owner Eric Davis said purchase of a mirrored demo he will make it an annual table, which allows students event. to follow a chef"s demonstra"I have had the good for- tion, said Career Technical tune of receiving a college Education Dean Klaus Tenculinary education, so it is bergen.
HP to spike 30K jobs as part of spinoff SAN FRANCISCO (AP) — Hewlett-Packard Co. is preparing to shed up to another 30,000 jobs as the Silicon Valley pioneer launches into a new era in the same cost-cutting mode that has
data analysis that is splitting off from the company's p ersonal c omputer a n d printingoperations. The spinoff is scheduled to be completedby the end of next month,dooming 25,000 marred much of it s r ecent to 30,000 jobs within HP Enhistory. terprise. The target means The purge announced last 10 to 12 percent of the week will occur within the 252,000 workers joining HP newly formed Hewlett Pack- Enterprise will lose their ard Enterprise, a bundle of jobs as part of the company's technology divisions focused effortto reduce its expenses on software, consulting and by $2 billion annually.
$I P
Last Trade 1 969.41
Last 94.11 Tesoro 70.97 TJMaxx The Walt Disney Co. 103.43 86. 50 Tractor Supply 42.00 USBancorp 16.84 Umpqua 61.44 Valero Wal-Mart 64.32 Waste Management 50.15 53.47 Wells Fargo 44.93 Westamerica 82.42 yum
Previous Week 1 969.41
52-Week Range 1 820.66 - 2 134.72
Previous
5 2 - W eek
P/E
DIV
95.98 72.34 99.51 86.36 41.43 16.71 60.83 66.38 50.70 52.93 45.02 81.76
55.59-110.74 58. 58-76. 93 78.54-122.08 55. 95-96. 28 38.10-46.26 14.70-18.92 42. 53-71. 50 61. 50-90. 97 45. 50-55. 93 46.44-58.77 40. 57-52. 40 65.81-95.90
9.49 21.67 21.54 29.83 13.42 17.49 7.03 13.43 22.99 13.01 19.43 40.38
2.00 0.84 1.32 0.80 1.02 0.60 1.60 1.96 1.54 1.50 1.54 1.64
FINANCE we buy insurance on our homes — and we protect thesevaluable assets,"she said. "But our most impor-
"I find that a lot of women, when they' re married or in a relationship with a man, they tend to let the man take care of the financial stuff," she said. "Be part of the conversation." One of D ean's main goals is to help women, but
tant valuableasset is our-
she caters to anyone who
Continued from Page Bl "We go out and we buy insurance on our cars, and
self and our ability to earn wants financial advice. an income. What happens Dean believes being preif we can't work? Now we pared financially is vital to can't earn an income." a person's financial health. sNo one cares more Dean encourages women to be educated on their about your financial fufinances. ture than you," she said.
RETIREMENT Continued from Page Bl
p erformance, and t h e y trade fi exibility for safety. Plus, the RMD strategy may be overly conservative because it uses a lifeexpectancy table m u ch longer than that used by Social Security. Here's another i d ea: Use the 4-percent rule as a starting point but adjust it up or down (or skip the infiation adjustment) depending on how your investments do in any given year. In a good year, you can give yourself a b o nus, maybe upping the withdrawal to 5 percent. In a bad year, cut back. "Rather than taking a vacation in the south of France, maybe it's South Carolina," says Warren
Working longer "is a wonderful tool," he says, because it helps you save more and shortens the length of time you' ll be withdrawing f rom s a vings. You can also postpone taking Social Security benefits. For every year you delay after age 62, benefits increase by about 8 percent until age 70. And anyone 50 or older can make catch-up contributions to retirement accounts. One certain way to avoid running out of money is to take a percentage — say, 4 percent — from your portfolioeach year and forgo the inflation adjustment Ward, a certified financial altogether. planner in Columbus, Ind. Another is to calculate your withdrawals accordJane Bennett Clark is a ing to the actuarial tables senior editor at Kiplinger'8 the IRS uses for required Personal Finance minimum d i s t ributions, magazine. Send your which you have to take questions and comments anyway from tax-deferred to moneypou/erOki pli nger. accounts starting atage corn.And for more on this 70 1/2.Both strategies de- and similar money topics, pend on your investment
visit Kiplingercom.
LAND TRANsFERs The followingis a list of real estate transactions logged from Aug.3t through Sept. 11by the Tuolumne County Assessor Recorder's Office. Sales price is calculated using the transfer tax paid,sois approximate. Aug. 31,11115Currey Drive, Sonora, $260,000 Aug. 31, 18548 North Fifth Ave., Jamestown, $55,000 Aug. 31, 14610 Mono Way, Sonora, $2,500 Aug. 31, 20044 Soulsbyville Road, Soulsbyvills, $84,500 Aug. 31, 20723 Forestwood Way, Groveland,$210,000 Aug. 31, 23140 Crssta Drive, Twain Harts, $312,000 Aug. 31, 22105 PBiyotts Ferry Road, Sonora, $178,000 Aug. 31, 28722 Herring Creek Lane, Cold Springs, 28710 Strawberry Lane, Strawberry, $5,000 Sept. 1, 387 Sonora Ave., Sonora, $145,000 Sept. 1, 559 South Shepherd St., Sonora, $125,000 Sept. 1,19751 Incense Cedar Trail, Groveland, $42,000 Sept. 1, 18186 Fifth Ave., Jamestown, $45,000 Sept. 1,163 North Shepherd St., Sonora, $183,000 Sept. 1, 22854 Middle Camp Road,Twain Harte, $410,000 Sept. 1,21169 Bnd 21175Ridgeview Drive, Sonora, $95,000 Sept.1,20248 Gibbs Drive,Sonora,$265,000 Sept. 2, 15428 El VenadaTrail, Sonora, $149,500 Sept. 2,12424 Old Home Court, Columbia, $120,000 Sept. 2,22634 Saw millFlatRoad,Sonora,$325,000 Sept. 2,22456 Ponderos8 Drive, Twain Halte, $180,000 Sept.2,11050 South PonderosaWay, Groveland,$30,500 Sept. 2, 1790 Carmetlita Lane, La Grange, $200,000 Sept. 2,25776 Upper Scenic Drive, Long Barn, $145,000 Sept.3,22461 Lilac Lane,Twain Halte,$163,000 Sept.3,20372W estW alnutDrive,Sonor8,$325,000 Sept.4,17747Woods Way, Jamestown, $84,000 Sept. 4,29650 Ksrns Drive, Long Barn, $20,000 Sept. 4,16956 Broken Pine Road, Sonora, $223,000 Sept. 4, 21638 Crystal Lake Drive, Sonora, $221,000 Sept.4,22536 CedarPinesAve.,TwainHarte,$305,000 Sept.4,20770 Old Buchanan Mine Road,Tuolumne, $400,000 Sept. 4,21600 FBithe Court, Sonor8, $299,000 Sept.4,8950 French FlatRoad,Jamestown, $358,500 Sept.4,149 Stsff en Lane,Sonora,$165,000 Sept. 4,20980 Lama Teumete Road, Mi wuk village, $272000 Sept.4,21112 Maranatha Road,Tuolumne,$357500 Sept. 4,20948 Heavenly Drive, Sonora, $190,000 Sept. 4, 20275 Pine Mountain Drive, Groveland, $180,000 Sept. 8,279 and 313 Morning Star Drive, Sonora, $205,000 Sept. 8,14335Tuolumne Road, Sonora, $220,000 Sept. 8, 15491 North camino DBI Parque, sonora, $365,000 Sept. 8,17177Nile River Drive, Sonora, $166,000 Sept. 9, 10900 Airport Road, Columbia, $464,000 Sept. 9,11268 MCKibbin Drive, Jamestown, $147000 Sept. 9, 18330 Olov Road, Sonora, $745,000 Sept. 10, 25161 Abraham Avenue, Mi-Wukyillags, $26,000 Sept. 10,19635 Michigan Drive, Twain Halte, $300,000 Sept. 10, 21515 Belleview Creek Road, Sonora, $317500 Sept. 10,19375 Superior Drive, Twain Harte, $36,000 Sept. 11, 19871 Phoenix Lake Road, Sonora, $235,000 Sept.11,17272 JBBnese Drive,Jam estown,$193,000 Sept.11,20726 CrestPine Easement,Groveland,$145,000 Sept. 11,14777 Navarro Court, La Grange, $10,000 Sept. 11,13480Yorkshire Road, Groveland, $270,000 Sept.11,356 EastJackson Street,Sonora,$270,000 Sept.11, 18941 Middle Camp Sugarpine Road, Twain HSlte, $379,000 Sept. 11,22920 Sierra Drive, Twain Halts, $289,000