Deferring to those who know yields good news

The managing editor of this publication once observed that we don't have the expertise to write as authorities about certain subjects, so we have to rely on the wisdom of others.

It's so true, and so refreshingly honest. Journalism that pretends to expertise that it doesn't have is, well, just bad journalism, in my opinion, and always best avoided.

In this special section on Economic Growth & Development, we defer to the wisdom and expertise of such folk as Greg Williams of the Springfield chamber, Karl Plumpe of City Utilities, Roy Dameron, president of Dameron Color Labs; Dan Mitchell, president of DaBryan Coach Builders Inc.; Mark Cook, president of Central States Industrial Equipment and Service Inc.; and Matt Hale, plant manager of Missouri Color Web. All hold forth in Jeff Krakow's story on the Partnership Industrial centers, beginning on page 13.

Facts & figures

We also in this section and throughout the paper provide salient facts and figures on Springfield, Ozark, Hollister, Nixa, etc. fast-growing cities in the state's fastest-growing region.

To help round out the picture, here's the scintillating scoop on our city from the latest "Springfield Missouri Dem-ographic and Statistical Profile" published by the Springfield Business & Development Corporation:

Recent unemployment in Springfield has been under 3 percent, the lowest in 25 years;

The area work force has increased 28 percent over the past 10 years, nearly twice the national average;

Our per capita income $24,525 annually has been growing by ap-proximately 6 percent per year;

Our manufacturing sector and health care sector each have an economic impact of more than $3 billion annually;

More than 88 percent of area employers have 20 or fewer employees

Conventions and tourism generate 1 million overnight visitors annually

Retail sales in Springfield top $3 billion yearly

In addition,

Cognetics Inc., in Inc. Magazine of December 2000, labeled Springfield one of the top 40 best (smaller metro areas) in America for starting and growing a business; and

Expansion Management Magazine has named the city "one of the hottest 50 cities for business relocation and expansion."

Consumer confidence

Admittedly no expert in economic matters, I'm nonetheless convinced that the real strength of the American economy at any given time lies in the consumer sector; specifically as determined by disposable income and consumer confidence.

The Conference Board, a not-for-profit organization made up of 3,000 member companies in 67 countries, measures consumer confidence on a regular basis. Its latest survey, based on 5,000 U.S. households, shows consumer confidence not only holding, but on the rise. Its Consumer Confidence Index for June reads 117.9, up from 116.1 in May. In a Conference Board news release, Lynn Franco, director of its Consumer Research Center, said, "There is little reason to believe consumers will drastically halt their spending habits and also little reason to expect consumers to go on shopping binges. The economy should continue to expand at its current slow rate."

We'll buy that, and if you want to know more about the Consumer Con-fidence study, you can visit the board's Web site at www.conferenceboard.org.

Banking

Speaking of good news, Great South-ern Bancorp is named "one of the best performing banks in the nation" in the July 2001 issue of U.S. Banker.

According to a Great Southern news release, the rankings are by profitability based on returns on equity and per-share earnings growth for periods ranging from one to five years. Great Southern placed fourth on the five-year ranking from 1996-2000 and took second and seventh places on the three-year and one-year profitability rankings. The rankings include the 100 largest community banks in America.

Talk of economic slowdown notwithstanding, 2001 may prove a banner year for banks and profits. A news release from Weiss Ratings Inc. reports that the nation's 9,821 commercial banks, savings banks and savings and loans posted a record quarterly profit of $22.8 billion in the first quarter of 2001. Find out more at the company's Web site, www.weissratings.com.

Thanks for joining us this week.