Economic forecaster to speak in Grass Valley
One of Nevada County’s leading business-oriented nonprofits will be hosting an Economic Forecast event in Grass Valley on Wednesday, Oct. 24.
The event, hosted by the Economic Resource Council, will feature speaker Esmael Adibi, the chairman of Economic Analysis at Chapman University, who will present a picture of current economic conditions in the United States and California, said Lisa Swarthout, a member of the ERC’s executive committee.
“I anticipate there will be a discussion of how municipal bankruptcies affect the state economy,” Swarthout said.
Indeed, Adibi plans to focus on the intersection of public policy and the national and state economy, he said in a Monday interview.
International financial institutions, the U.S. government and the state of California “have had trouble getting their act together” in responding to the fiscal crisis, Adibi said, and this has impacted global economic recovery.
“The common denominator is government, especially considering the economy is so fragile,” Adibi said.
The economic recovery in the eastern portion of California has been slower than in the western half, as the coastal cities are more diversified, but the improvement apparent in the coastal regions will provide a lift to the entire region, Adibi said.
Environmental regulations that have made it more expensive and burdensome to undertake timber, mining and manufacturing enterprises, historically the mainstays in the eastern state’s economic portfolio, have an impact, but Adibi said the public servants have been elected by the populace to analyze the various costs and benefits of policy as it relates to the economy and the environment.
Adibi will also talk about the importance of the election season and its impact on the economies of the state and national level.
“The talk will not be as much about the local economy, because it is so tied to what is happening on the state, national and international level,” he said.
The event serves as the largest fundraiser for the ERC, which acts as an resource for the existing business community while attempting to help prospective business owners transition into the county smoothly.
The public is invited to attend. The cost of the event is $40 per person.
There is a limit of 200 people at the event and about 130 people have signed up so far, Swarthout said.
To make a reservation, call (530) 274-8455.
The ERC was beset by turmoil recently, as its executive director, Jon Blinder, was arrested on Sept. 20 on four felony counts of securities fraud and conspiracy for his alleged role in a hard money lending operation that stands accused by the California Attorney General’s office of multiple criminal infractions.
On Oct. 1, the ERC executive committee formally accepted Blinder’s resignation, with ERC board chair Kimberly Parker saying Blinder did an “outstanding and invaluable job … for the ERC since early 2012.”
The ERC met Oct. 8 to formulate a plan for the organization moving forward, Swarthout said, which included discussing the compilation of candidates to replace Blinder.
To contact Staff Writer Matthew Renda, email email@example.com or call (530) 477-4239.
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If asked what month is historically the worse for stocks, many investors would answer October.