Economists say ‘The Great Recession is over’; Koss Corp.’s board authorizes stock split
Economists say ‘The Great Recession is over’
National Association for Business Economics (NABE) proclaimed, "The Great Recession is over," on Monday.
NABE panelists have marked up their predictions for economic growth in 2010.
“While the recovery has been jobless so far, that should soon change. Within the next few months, companies should be adding instead of cutting jobs,” said NABE president Lynn Reaser, chief economist at Point Loma Nazarene University.
Panelists predict a relatively sluggish consumer upturn but look for a sizable housing rebound, low inflation and further rise in stock prices. Importantly, panelists are mostly (though not entirely) optimistic that the Federal Reserve Bank’s policies will not lead to higher inflation.
"The good news is that this deep and long recession appears to be over, and with improving credit markets, the U.S. economy can return to solid growth next year without worry about rising inflation," the report stated.
The November 2009 NABE Outlook presents the consensus of macroeconomic forecasts made by a panel of 48 professional forecasters.
Founded in 1959, NABE has 2,300 members and 31 chapters nationwide. The survey was conducted by Richard DeKaser, Woodley Park Research; Parul Jain, MacroFin Analytics and Baruch College; Charles Steindel, Federal Reserve Bank of New York; and William Strauss, Federal Reserve Bank of Chicago,
At the same time, NABE panelists are “extremely” concerned about high federal deficits over the next five years.
Koss Corp.’s board authorizes stock split
At a special meeting last week, shareholders of Milwaukee-based Koss Corp. authorized the company’s board of directors to increase the total number of shares of common stock from 8.5 million shares to 20 million shares.
The approval of the increase in the number of authorized shares was a condition of the two-for-one forward stock split that was approved by the company’s board of directors on Oct. 7, to bring the firm into compliance with Nasdaq’s continued listing requirements.
On Sept. 10, Nasdaq notified Koss that it no longer met the 750,000 minimum publicly held shares requirement. The proposed stock split will cause the company’s total number of publicly held shares to exceed the 750,000 minimum threshold while maintaining Koss’s compliance with Nasdaq’s other continued listing requirements. Koss must regain compliance with Nasdaq’s listing requirements by Dec. 24.
The forward stock split will be affected in the form of a stock dividend of one share of common stock for each share of common stock outstanding. Koss expects that the stock dividend will be distributed on Dec. 1.