Story Tools

Email this story | Print this story

Indexes

Today's Stories

Last 7 Days

Top Blogs

• When there's something strange ...

• Local reaction to economic growth

• Officials hope new Highway 12 stoplight will make road safer

• Stockton breaks ground on Delta Water Supply Project

• Get an early start trick-or-treating in Downtown Lodi

• Regional Roundup

• Lodi sales tax revenue less than expected

• Lockeford soldier Kyle Coumas' funeral set for Monday

• Roundup of Lodi-area Halloween events

February 8th, 2010

• Public Meetings

• Locals pick best, most memorable Super Bowl commercials

• Regional Roundup

February 6th, 2010

• The Home Depot hopes to join Costco at Reynolds Ranch

• Meet Larry, Curly and Moe

• Baboon business

• Regional Roundup

• Several Lodi venues let you watch the Super Bowl in style

• Lodi Library celebrates 100 years of serving the community

• Culinary craft

February 5th, 2010

• Kids, teachers help Haiti by collecting pennies for Learning Link

• Lodi, Galt students reach out to help Haiti earthquake survivors

• Tasered suspect claims he is Yosemite Sam

• Hours of sweat and work go into putting on crab feeds

• Things looking up for state's real estate

• Correction

• Regional Roundup

• Stray bullet strikes Lodi home; police suspect gang activity may be factor

February 4th, 2010

• Managers at Geweke Toyota answer questions about recall

• Lodi City Council votes to replace play structure at Century Park

• Lodi extends ban on pot shops for another year

• Mokelumne River triathlon set for June

• Family, friends to run half-marathon in memory of Galt family

February 3rd, 2010

• Correction

• Regional Roundup

• Delta College trustees again collide over stipend committee

• Lodi-area senators Dave Cox, Lois Wolk admit to gifts; Tom Berryhill case pending

• Lodi Unified School District president issues warning to speakers over cuts

• Galt City Council avoids budget cuts — for now

• New Lodi Memorial Hospital emergency room opens to the public without a hitch

• Bad bugs, weeds are hot topics at Grape Day

February 2nd, 2010

• Big rig plows 7 cars

• Local business leaders say tourism, Costco, Home Depot may play roles in city's future

• Former Lodian Erica Davis is first paraplegic woman to summit Kilimanjaro

• Jumpers across California

• Correction

• Regional Roundup

• No snow leopards, otters for Micke Grove

• McNerney leads in campaign cash

• Police: Train victim was a Lodi teen

February 1st, 2010

• Find cuddly alpacas not too far from Lodi

• Public Meetings

• Patients can expect faster, better service when Lodi Memorial Hospital's new emergency room opens

• Man killed by Amtrak train in Lodi

The following stories have received the most reader comments during the last 7 days.

• Will terrorists be given Miranda warnings? (75)
• President Obama's first year (67)
• Lodi Unified School District president issues warning to speakers over cuts (64)
• Local business leaders say tourism, Costco, Home Depot may play roles in city's future (60)
• Islamic symbol in mosaic — what is all the fuss? (49)
• Many reject the politics of 'no' (43)
• Writer comments on Neely column (42)
• The Home Depot hopes to join Costco at Reynolds Ranch (41)
• Police: Train victim was a Lodi teen (31)
• Time to shed the convenient sham of 'Don't ask, don't tell' policy (31)

ADVERTISEMENT

Local reaction to economic growth

After a record four straight losing quarters, the economy finally grew again. It was hardly a boom, and it was almost all because of government spending.

But it was enough to change the question from when the recession will end to whether the recovery will hold.

Local business leaders react to the news:

Jeff Michael — Director of Business Forecasting Center at University of the Pacific

"To some extent, this growth is spurred by the economic stimulus package. Cash for Clunkers was a big part of this growth for sure.

Consumption grew by 3.4 percent, but most of that was driven by Cash for Clunkers. It would be characterized as weak growth. Residential investment across the nation is picking up, but it isn't here yet. The local economy isn't growing at the same rate as the nation's.

It's no doubt that the United States is out of the recession; locally, it's a close call. We projected the country to come out of it by Halloween, and here we are.

However, California is lagging behind the rest of the nation by a quarter. We are on the path to recovery. We have shown real growth, but it is in the form of borrowing from the next quarter.

We won't see 3.5 percent growth next quarter. It will be positive, though.

Overall, it's very mixed. But that is symptomatic of when you are at a turning point."

Kent Steinwert — President and CEO of Farmers and Merchants Bank

"The growth is primarily driven by government spending. Cash for Clunkers and the first-time homebuyer's credit are the biggest causes. Higher government spending is adding to the debt. It's questionable if this growth is sustainable.

High unemployment is still plaguing us and will offset improvements. We will still see a weak economy in 2010 and 2011 in California because it is unlikely stimulus funds will find their way into the Central Valley.

Agriculture remains strong, but consumer spending and housing starts remain weak. We won't see as great an increase next quarter.

The economy grew by expanding the role of government. It's not sustainable. Growth has to come from the private sector.

F&M is still strong due to conservative underwriting and practices. We haven't taken any government money and avoided the bad loans."

Scott Hudson — Agricultural Commissioner for San Joaquin County

"The increase is certainly welcome. I'm hopeful it reflects people buying higher-end agricultural products that we produce here, such as tree fruits and wine.

Agriculture has seen some decline in commodities, specifically dairy. Hopefully the increase in GDP means consumers are spending more on items such as our winegrapes and cherries.

The improving economy can be attributed to people gaining confidence and hopefully having money to spend on luxury items.

The agricultural economy in San Joaquin County has been fair. We have had some commodities that suffered. However, it continues to be a strong economy. Agriculture hasn't been as high as in other years but it's been stable. The most notable exception is dairy."