Newspapers / University of North Carolina … / April 30, 2009, edition 1 / Page 4
Part of University of North Carolina at Asheville Student Newspaper / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
Thursday, April 30, 2009 {The Blue Banner} Page 4 Economist predicts economic growth despite poor job market By Michelle Peck Staff Writer MWPECK@UNCA.EDU With a record audience of 400 people, UNC Asheville’s 25th annual Economic Crystal Ball Seminar filled Lipinsky Au ditorium as students and Asheville resi dents listened to the predictions of our current economic recession. “By the end of this year, we will be out of this recession; we will see positive economic growth at the end of the fourth quarter,” economist David W. Berson said. “The bad news is things like unem ployment rate won’t look like it’s over. The unemployment rate could get to 9.5 percent or so at its peak and could go a little higher.” Noted economists Berson and James F. Smith spoke. The economics depart ment and Parsec Financial sponsored the seminar, which began with a reception, followed by the speakers and a question- and-answer period. The event was free and open to the public. Master of Ceremonies for the night economics professor Joe Sulock, intro duced the speakers, and said Berson and Smith are to economics as Huntley and Brinkley were to newspapers. Michael E. Binder, senior financial advisor at Parsec Financial, attended the event and offered advice to students try ing to pay loans. “Don’t get into anymore debt, no cred Sulkiro Song - Staff Photographer Sophomore Andrew Werthelm, senior Nermin Vehobovic and junior James Phillips mingle at the 25th annual Economic Crystal Ball reception at Lipinsky Auditorium last Thursday. it cards,” Bruder said. “Small amounts can help. For instance, Starbucks cof fee, wonderful coffee, but if you give it up, take that money and put it aside, you may be able to use that money for monthly payments.” Bruder received his undergraduate degree in social work and a master’s in counseling from Western Carolina Uni versity, but now he works with money management. “Right now to pay down debt, do not take any risks. Put your money in a sav ings account, money market, checking account or a certificate. You’re not after getting a high interest if your interest ed in keeping the money safe,” Bruder said. Our society says to spend, spend, spend, according to Bruder, and students should not fall into the habit of spend ing. Berson of the PMl Group explained to the audience his cell phone was on vi brate, waiting for the New York Times to call him for an interview. Later he walked off the stage, and took the call, as James F. Smith was talking. “The recession that we are in now be gan in December of 2007,” Berson said while talking about his last forecast. The economic outlook portion of the program focused on inflation, employ ment, interest rates and the strength of the dollar and housing market. “We have a huge excess of inven tory of homes for sale. The last thing we want is for builders to build more,” Berson said. Berson, a former vice president and chief economist at Fannie Mae, was the president of the National Association of Business Economists. He was also chief financial economist at Wharton Econo metrics Forecasting Associates and a vis iting scholar with the Federal Reserve. “Home* sales have probably already bottomed,” Berson said. “The trend is now upward. The housing market can recover before the job market does, but it usually doesn’t recover strongly until the job market does.” See SEMINAR Page 7 I UNCA gains alternative, above-ground fuel tanks this summer By Hannah Doyle Contributing Writer HDOYLE@UNCA.EDU Thanks to a $70,000 Mobile Source Emissions Reduction Grant from the North Carolina Division of Air Quality, the UNC Asheville Transportation Office will begin- construction this summer on three above ground fuel storage tanks and 2,000 gal lons of B50 (50 percent biodiesel, 50 per cent petroleum diesel), 2,000 gallons of ElO (10 percent ethanol, 90 percent gaso line) and 1,000 gallons of E85 (85 percent ethanol, 10 percent gasoline). “In light of budget cuts, it’s really im portant that we try to get as much funding available. We would not be able to do this project if not for this grant,” said Chris Miller, environmental health and safety officer. “Back in 2005 state legislature re quired that we reduce dependency on pe troleum by 20 percent. We’re already at 38 percent, so this project will help us further that goal.” Currently, the transportation office runs its vehicles on B20 (20 percent biodiesel, 80 percent petroleum diesel). The grant money will first replace the two aging 300 gallon tanks (one diesel, one gasoline) with three above-ground fuel dispensers for a centralized fueling station outside of the Sam Millar Complex. UNCA has 84 vehicles for university use, 14 of which are Flex Fuel (E85) ve hicles; four of these use B20 and belong to the transportation office. Vehicles that currently bum regular gasoline will start out on E10, and as the demand for the E85 motor fleet increases, the transportation office will phase out of ElO and move to B85, according to Miller. “With this new fuel dispensing system, it integrates directly with Raleigh’s motor fleet fueling system, so it will allow not only our motor fleets but also those from other state institutions in Raleigh and oth er areas to come here and use our system,” Miller said. “There are not many alterna tive fuel stations across the state available to alternative fuel vehicles. Ours will al low other areas like city of Woodfin, city of Asheville, city of Weaverville, town of Weaverville and more to utilize this sys tem.” The transportation office ordered the grant in March. Senior environmental stud ies student Corey Scheip, who interned at the transportation office this summer, re searched, developed plans and wrote the application. “We asked for $96,000 for an ethanol, biodiesel and compressed natural gas sta tion,” Scheip said. “The ethanol and biod iesel got approved, the CNG rejected. This is the first time UNC Asheville has re ceived a Mobile Source Emissions Reduc tion Grant, which is put out every year.” Miller plans to keep the fueling sta tion on campus open from 7 a.m. to 5 p.m. Monday through Friday. It will be the first alternative fueling station in north Asheville, open to other state and local government agencies and to the public. The station allows the possibility of sig- See GRANT Page 7 I
University of North Carolina at Asheville Student Newspaper
Standardized title groups preceding, succeeding, and alternate titles together.
April 30, 2009, edition 1
4
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75