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Return of national consumer spending spurs optimism
The third-quarter increase in the GDP signals optimism for the rest of the year and a good economic beginning to 2010, Jerome Idaszak writes. With consumers spending again, inventories will be rebuilt and factory output will increase, Idaszak writes. The Kiplinger Letter (10/29)

• Look for the Board of Trade's regional Consumer Confidence Survey, which will be released on Nov. 18. 

School goes on but many students are out sick
Greater Washington schools are reporting widespread absenteeism because of the H1N1 virus and other illnesses. Some schools say the absentee rate is double what it normally is, in some cases with one-fifth of the student population missing. The Washington Post (10/30)

Economic Stimulus and Financial Reform

White House says stimulus has created, saved 640,000 jobs
The White House says the $787 billion stimulus package has created or saved about 640,000 jobs -- mostly in schools and construction. An estimated 10 million Americans have been laid off since the recession began and 15 million are now out of work. The Wall Street Journal (11/2)

Geithner expands program for distressed neighborhoods
Treasury Secretary Timothy Geithner has announced a $5 billion program to expand tax credits in distressed communities. The stimulus-funded program will encourage private investment in energy, education, health care and manufacturing projects. The Wall Street Journal (10/30)

Zandi: Stimulus spending is fostering recovery
Economist Mark Zandi says the federal government's aggressive actions have brought an end to the recession, but he cautions that it will take time for the job market to recover. "What matters for economic growth is the pace of stimulus spending, which surged from nothing at the beginning of the year to about $80 billion in the third quarter," he said. "That is a big change in a short period and is why the economy is growing after more than a year." Reuters (10/29)

Deals and Development

Planners price Tysons Corner transit makeover at $15 billion
Officials in Virginia's Fairfax County project that proposed Tysons Corner transportation improvements will cost $15 billion. The county wants to revamp the area into a transit-oriented urban hub with a Metro extension to Dulles International Airport and improved roads, bus service and two additional rail lines. WTOP-FM (Washington, D.C.)/The Associated Press (10/30)

Going Green

Climate report quantifies emissions impact of U.S. firms
A climate report from Ethical Investment Research Services indicates the U.S. has 143 "very high" or "high impact" companies listed on the FTSE All World Developed Index. Impact is defined by direct and indirect emissions, according to this article; "very high impact" sectors average 125 times the average carbon intensity of "low impact" sectors, while "high impact" sectors are five times higher. ClimateBiz.com (10/29)

More challenges await climate-change measure in Senate
The Senate's climate-change legislation is expected to face more problems, as the measure has deeply divided Democrats and provoked opposition from key Republicans, dimming the prospects for its approval. This comes even as Sen. Lindsey Graham, R-S.C., supported the bill, which was co-written by Sen. John Kerry, D-Mass. The senators are scheduled to talk with Energy Secretary Steven Chu, White House climate adviser Carol Browner and Interior Secretary Ken Salazar for a possible compromise on the proposal. The Washington Post (11/2)

Board of Trade Opportunities and Benefits

Upcoming Events and Programs

• Regional Update on the Swine Flu and the Implications for Business, Nov. 9 -- With the H1N1 virus intensifying, regional businesses and schools are already being significantly affected. On Nov. 9, the Board of Trade will host a conference call with regional preparedness leaders to provide you with an update on the spread of swine flu in Greater Washington and its implications for business. Register
• Corporate Social Responsibility Business Workshop, Nov. 5 -- This interactive panel discussion addresses best practices in corporate social responsibility and explores its impact on workforce recruitment, retention and office culture. Register
• Breakfast with Author of Silver Lining: An Innovation Playbook for Uncertain Times, Nov. 24 -- Don't miss Scott Anthony, author of Silver Lining: An Innovation Playbook for Uncertain Times and managing director of Innosight Ventures. In a conversational interview with Jim Dinegar, president and CEO of the Board of Trade, Anthony will discuss innovation and its importance during difficult economic times. Register
• Board of Trade Annual Meeting: The Look Ahead, Nov. 24 -- A yearly tradition since 1889, the Board of Trade's Annual Meeting gathers more than 800 business, civic and government leaders to celebrate the year's accomplishments and prepare for the year ahead. Register
• Board of Trade Holiday Party, Dec. 14 -- Join Greater Washington's business community as we celebrate the holiday season and kick off the new year. Enjoy festive drinks and appetizers at the U.S. Chamber of Commerce, which will be transformed into a winter wonderland. Bring a group of friends, staff or clients! See our group discounts. Register

Advocacy Update

• The Greater Washington Board of Trade congratulates Bob McDonnell for winning the Virginia gubernatorial race. The Board of Trade leadership threw its endorsement behind Bob McDonnell because of his demonstrated understanding of the major concerns facing businesses in this difficult economy and his willingness to include the business community in fashioning solutions to the most pressing issues facing the region. We look forward to working with Governor-elect McDonnell on improving this region's transportation crisis and helping to strengthen the entire Greater Washington region.
• The Board of Trade's next Consumer Confidence survey, measuring regional consumer optimism, will be released on Nov. 18. Because consumer spending accounts for roughly two-thirds of our economy, the survey results will help track the strength of our regional economy.

Partner Events and Programs

• Business Steps Up: Hiring our Heroes, Nov. 12 -- Join the National Chamber Foundation for the second annual Business Steps Up event, which will focus on connecting service members with careers worthy of their training and experience. The Honorable Eric K. Shinseki, secretary of Veterans Affairs, will keynote the event. Register.
  
• EagleBank Bowl Welcomes Greater Washington Board of Trade, Dec. 29 -- Kick off your new year's festivities with the second annual EagleBank Bowl, a nationally televised, NCAA-sanctioned college bowl game benefiting the Wounded Warrior Project and other local charities. Reserve your exclusive mezzanine ticket, which includes catering during the game, by e-mailing Seth at sfrankenthal@EagleBankBowl.org or calling (202) 785-BOWL.

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