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(RTTNews) - The direction of the economy has become a contentious issue. Economists are divided in their views, with a few suggesting that the economy faces the threat of a recession, while others say it is just a moderation in growth that is currently underway. That leads us to the question as to what will be the Fed's stance going forward under both scenarios. According to Wachovia Securities economist John Silvia, the Fed's greater concern now is the state of the economy. Silvia believes that the central bank will focus on avoidance of further weakness in the economy rather than attempting to lower inflation. His outlook is for no change in the Fed funds rate through the end of the year. The Home Sales data for August released last week came in above market expectations. Existing Home Sales eased 0.5% to 6.30 million units, but still bettered the consensus expectation, while New Home Sales unexpectedly climbed 4.1% to 1.050 million units.
Paris -- October 3, 2006 -- The Lafarge group, a global leader in building materials, has selected the MySQL database to operate the real-time management of the different sales and dispatch phases of its Aggregates & Concrete business. The system is already installed at over 100 quarries, with plans to service up to 250 production sites in Europe by the end of autumn 2006. The Lafarge group (Euronext: LG, NYSE: LR) operates in 76 countries and employs over 80,000 people. Its business is split into four divisions (Cement, Aggregates & Concrete, Roofing, Plaster), with Lafarge holding the position of world leader in each of these areas. The operations of the Aggregates & Concrete division amounted to over 5 billion euro in 2005, with a workforce of 20,000. This division recently developed a database application called Quartz, which uses the open source database MySQL and enables real-time control of the various phases in the sales and dispatch process of its materials.
MIAMI, Oct. 13 (UPI) -- A 1950s-era house and two V-8 engines may help Florida scientists learn which construction materials and methods better withstand hurricane winds. Studying construction methods and materials and how they withstand hurricanes' wind and water can prevent future damage, the Miami Herald said Friday. Florida International University's International Hurricane Research Center and Laboratory for Coastal Research scientists used the V-8 engines to produce winds of 115 mph, which they trained on the condemned to learn on how older buildings fare, the Herald said. Authorities said improving building against storms stronger is the best way to corral insurance costs, the Herald said. Insurers tend to charge higher premiums on older homes, assuming the dwellings won't fare will in storms because they were built under less rigorous standards.
BILOXI - "If you build it, they will come" could have been the theme of Hancock Bank's 40th annual Gulf Coast Economic Symposium under the "Together We Rebuild" banner Tuesday at the Mississippi Coast Coliseum. A panel of experts, including the state treasurer, a top business leader and a nationally renowned economic consultant, told a crowd of almost 1,000 that the successful and rapid recovery from the effects of Hurricane Katrina hinges on one issue: housing. "We need to build 80,000 housing units in five years," said panelist Anthony Topazi, president and CEO of Mississippi Power Co. The majority of these units, Topazi said, will be made up of workforce housing. He expects commercial entities to peak in that time frame with a corresponding need for employees and homes they can afford to live in.
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