Economic Forecast Breakfast Comes to UWG

The economy is in turmoil, which makes the timing for the 12th annual Economic Forecast Breakfast on October 28 pretty good. Dr. William “Joey” Smith is one of the guest speakers for the event. Here are a few thoughts from event coordinator, chair of the Department of Economics and professor, Dr. David Boldt, followed by information on the breakfast.

Dr. David Boldt

"There does seem to be more than usual interest in the economy now. Nationally we have been hit with what might be described as a 'financial storm.'

"The West Georgia economy has been hit hard by national and regional events, particularly the steep decline in the housing market. Unemployment rates throughout the region are the now at the highest levels since the early 1990s.
 
"At the household level, a record number of families have lost their homes due to foreclosure. In addition, many families have suffered substantial losses in the stock market in recent weeks. Also, a number of highly regarded financial institutions have either declared bankruptcy, been forced to merge with other institutions, or have been 'bailed out' by the Federal Government.    

"Our featured speaker, Kenneth Heaghney, has particular expertise concerning the impact of the national economic slowdown and financial crisis on the Georgia economy and the state budget outlook.  Dr. Heaghney also has substantial experience in the private sector and will be able to share his insights on the expected impact of the credit market problems on both small and large businesses.  

"We expect to have more than 350 people in attendance at this year’s breakfast.  This will be the 12th year we have conducted an annual economic forecast breakfast.  It has been successful in part because we have had such great support from sponsors including the Carroll County Chamber of Commerce, the First National Bank of Georgia and Southwire."
 
The University of West Georgia will host the 2008 Economic Forecast Breakfast on Tuesday, Oct. 28, at 7:30 a.m. in the Campus Center Ballroom. Seating is limited and early registration is recommended.

The annual event will focus on national, state and regional economic forecasts and will feature guest speaker Kenneth Heaghney, Georgia’s state economist, and Dr. William “Joey” Smith, an assistant professor of economics at UWG.

Heaghney was appointed in 2005 and is responsible for developing the annual tax revenue forecast for the state’s budget. He also advises the Governor’s office on economic policies. Professor and chair of the Department of Economics David Boldt said the featured speaker would shed light on economic issues.

“Kenneth Heaghney has particular expertise concerning the impact of the national economic slowdown and financial crisis on the Georgia economy and the state budget outlook,” said Boldt.

“He also has substantial experience in the private sector and will be able to share his insights on the expected impact of the credit market problems on both small and large businesses.”

Smith will present an update on the economic outlook for the West Georgia region. Before coming to the West Georgia campus, Smith was a research associate at the Fiscal Research Center at GSU with a specialization of growth patterns in metro Atlanta and empirical analysis of state tax policies.

The event is sponsored by the UWG Department of Economics, the Richards College of Business, the Carroll County Chamber of Commerce, Southwire and First National Bank of Georgia.

Co-sponsors include AgSouth Mortgages, Carroll EMC, Citizens Bank and Trust of West Georgia, Fred O’Neal of Edward Jones and Michael Stone of Edward Jones, Systems and Methods, Inc., Tisinger Vance, PC, and Valic-Cliff England Financial Advisor.

The breakfast is widely attended with more than 300 participants expected this year. Each guest attending the conference will receive a copy of the 2007 West Georgia Regional Outlook publication.

Reservations and payments are required in advance. Cost for the event is $25 for an individual registration and $175 for a table of eight. Checks and registration requests may be sent to the University of West Georgia, the Department of Economics, 1601 Maple St., Carrollton, GA 30118. The registration deadline is Friday, Oct. 24.

For more information on the breakfast, call 678-839-6477 or e-mail Boldt, chairman of the Department of Economics and coordinator of the event, at dboldt@westga.edu.

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