Bradenton Times News Articles

The Manatee Chamber of Commerce will launch a national search for a new executive director to lead the Chamber's Economic Development Council (EDC) following the resignation of Eric Basinger, who has accepted a position in Alabama. EDC Associate Director Sharon Hillstrom will serve as interim director during the search, said Chamber President Bob Bartz. more»

The equity markets fell for the fourth consecutive week as they continue to adjust to the slowing of the U.S. economy, reduced estimates for corporate earnings and the banking crisis in Europe. Last week’s drop in stock prices is in line with expectations of a testing phase that typically follows a selling climax. Last week’s performance offered some positive signs of a successful test but there were also some flaws. more»

Mattison's Riverside, long the centerpiece of the downtown Bradenton scene, will undergo a name change when it is re-branded as Pier 22 next month. The Miller Family, who  has owned the restaurant since developing it 1976, has been under a name licensing agreement with the Mattison Company and have chosen not to renew it. more»

The public is invited to a sneak preview of Manatee County’s video invitation to sports performance businesses around the world to bring their operations – and jobs – to the community. The Manatee Economic Development Council (EDC) will host the screening at IMG Academies on September 15. more»

Today, the U.S. Department of the Treasury and U.S. Senator Bill Nelson announced the approval of Florida’s State Small Business Credit Initiative (SSBCI) application. Florida’s planned use of the SSBCI funds will help create new private sector jobs and spur more than $977 million in additional small-businesses lending in that state. more»

Last week, Standard & Poor’s (S&P) lowered their credit risk rating on the Manatee County Investment Pool (Pool) one step to AA+, not only from our holdings in US treasuries, but also because of our $1.5 million out of over $700 million in investments (which is less than .002% of the portfolio) continued holding in the State Board of Administration’s Fund B (Fund B).  You might recall the tainted assets in Fund B were once rated AAA by S&P, which allowed for the SBA to invest in them, and now have junk bond ratings.
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The extreme volatility last week was triggered by downward adjustments to the growth rate for the U.S. and global economies. Given the near 20% break in many of the global equity markets, consideration must be given to the likelihood that a large measure of the negative economic news has been priced into stocks. 
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Council members met Monday morning to the sound of good trends. Sports events filling the calendar, visitor numbers up, market studies up and new websites. Local visitors are happy, the Europeans keep coming back and the word is, we're the real Florida.   

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Grand Incentives Inc., a travel and lifestyle incentives membership and marketing company, is expanding its Manatee County headquarters and plans to add 60 employees over the next five years, according to Eric Basinger, executive director of the Manatee Economic Development Council. more»

The global equity markets fell sharply in response to the S&P downgrade of U.S. debt and the equity futures overnight indicate lower prices at the start on Monday. The move by S&P comes at a difficult time for the economy with government stimulus programs transitioning to austerity measures to help rein in the nation’s debt. more»