Heard on the Street

IN DECLINE

The U.S. banking industry's return on assets, a common measure of bank profitability, dropped to its lowest level in four years in the first half of 2000, according to a release from Weiss Ratings Inc. For the first six months of 2000, the industry reported a return on assets of 1.15 percent, down from 1.32 percent in 1999. Weiss cites three key factors in this decline: a shrinking net interest margin, higher provisions for future losses and a $1.6 billion loss on the sale of securities. "This sudden drop in bank profitability in the first six months of 2000 is especially worrisome considering the industry actually enjoyed record profit during the first quarter," said Martin Weiss, PhD, chairman of Weiss Ratings, in the release. "Earlier we reported on the rising level of nonperforming commercial loans. This decline in profitability is yet another sign that the banking industry's good fortunes have peaked. Expect more declines in the months ahead," he added.

9 TO 5 OR 8 TIL LATE?

A survey of executives with the nation's 1,000 largest companies revealed that 68 percent of those polled said they are working more hours today than five years ago, and more than one in four, 27 percent, are putting in significantly more hours. The survey, by finance industry staffing service Accountemps, also showed that 20 percent of executives polled experienced no change in hours from five years ago, and only 12 percent reported working fewer hours than five years ago. Accountemps Chairman Max Messmer, author of "Human Resources Kit for Dummies," said in a release that while occasional overtime is to be expected, too many late nights can compromise productivity. "Managers should closely monitor employee morale and provide solutions to offset heavy workloads, such as reprioritizing projects, hiring additional personnel or bringing in temporary assistance."

SURVEY SAYS

During the week of Nov. 19, nearly 2,000 Census Bureau field representatives will interview about 48,000 households for the Current Population Survey, the largest and longest-running household survey in the nation, according to a release from the Department of Commerce. Sponsored by the Bureau of Labor Statistics, the purpose of the survey is to update the country's employment data and to find out how many registered voters actually cast ballots Nov. 7. According to CPS data, 41.9 percent of the U.S. population age 18 and older reported voting in the November 1998 congressional election. In Missouri, that figure was 45.8 percent. The highest voter turnout was in Minnesota, with 64.2 percent participating, and the lowest turnout was in Virginia, with 30.1 percent participating.

URGENT COMMUNICATION

Urgent Care will be the topic of the next Springfield Area Chamber of Commerce Health Care Breakfast Forum, to be held at 7:30 a.m. Nov. 9 at Doctors Hospital of Springfield, 2828 N. National. Reservations are required on the chamber's RSVP line, 862-1625.

BIG MONEY

The Federal Aviation Administration Oct. 31 approved $26.1 million in federal funds for runway improvements to the Springfield-Branson Regional Airport. An additional $4 million was secured for the planning and design of the new midfield terminal, to be built by 2010. "The $30.1 million is the largest federal financial commitment in the history of the airport and the city of Springfield," said Olin Grooms, Airport Board chairman.