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Featured Advisor



Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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News for the Investor on November 25, 2014

GDP report comes is stronger than expected, weather could cause Wednesday travel problems. Here is the news of the day for Nov. 25, 2014.

 

Third Quarter GDP Strong

The Commerce Department Tuesday raised its estimate of gross domestic product to a 3.9 percent annual rate after the third quarter, up from the 3.5 percent rate reported last month, indicating better than anticipated production in business and consumer spending. Growth increased at a 4.6 percent rate in the second quarter, giving the U.S. economy the two strongest back-to-back quarters of growth since 2003. Economists expected growth to actually be reduce to a 3.3 percent rate. Inventories were also revised higher, with restocking now only accounting for a mild drag to GDP growth. That also helped to offset downward revisions to export growth.

Riots in Ferguson Overnight

Police, businesses and residents were prepared to meet the onslaught of protests in Ferguson, Missouri, and they got what they expected when a grand jury chose not to indict the police officer who shot and killed an unarmed black teenager in August. Protesters pelted officers with bottles, and police in riot gear ordered a crowd of several hundred people to disperse. President Barack Obama called on both sides to exercise restraint and asked everyone to respect the grand jury’s decision. The St. Louis County Prosecutor said the grand jury, which had nine Caucasian members and three African-American members, found no probable cause for any of the charges it considered against Wilson, including first degree murder or the lesser charge of manslaughter. In a public statement, the family of the teenager, Michael Brown, said “"We are profoundly disappointed that the killer of our child will not face the consequence of his actions." The family did ask that protests remain peaceful.

Travel Trouble For Thanksgiving

A Nor’easter storm, snow and ice are in the forecast from New England to Georgia for Wednesday when millions of Americans will travel to see family and friends for the Thanksgiving holiday. Wednesday is the busiest day of travel for the holiday week. The Weather Channel projects the best chance for snow Wednesday will occur north and west of Interstate 95, which runs from Miami to Washington, D.C. Winter storm watches are already posted for the Northeast for Wednesday and Thursday. The National Weather Service says the New York area could see 6 to 10 inches of snow. Snow is forecast for Wednesday from Maine down to the Washington suburbs, and ice from New Jersey south to the mountains of north Georgia.

Hagel Resigns Under Pressure

Chuck Hagel, brought in to the role of U.S. Defense Secretary in order to reduce the Pentagon’s spending and get soldiers out of the Middle East, resigned Monday amid pressure from the President and Congress for a more hardline leader of the armed forces. The decision to ask for Hagel’s resignation came last week after President Barack Obama and Hagel met several times over the past two weeks. The new threat from the militant group Islamic State caused Obama and others to look for a different sort of leader in that position. Hagel, a combat veteran himself who was skeptical about involvement in Iraq, was brought into the position to manage the Afghanistan combat withdrawal and the shrinking Pentagon budget in the era of budget sequestrations.

Cowardly Lion (Costume) Roars

The costume worn by actor Bert Lahr in his portrayal of the Cowardly Lion in “The Wizard of Oz” was purchased in auction for $2.6 million Monday. The costume was part of a sale of Hollywood items by Bonhams Monday, and produced a bid higher than the expected $2 million bid. The costume was made from actual lion hide and was worn in more than a dozen scenes in the 1939 film, according to Bonhams. The costume was discovered carefully bundled up in an old building on the MGM lot. It has a hidden zipper in the front and an attached tail in the back. Another item sold at auction was the piano from the movie “Casablanca”, which was sold for $2.9 million.

Tiffany Misses

Tiffany’s earnings report just missed Wall Street expectations due to weak demand in Japan. Tiffany reported earnings of 76 cents per share on revenue of $959.6 million, and Wall Street had expected revenue of $969 million. Tiffany maintained its earnings outlook for the entire fiscal year. Same store sales were forecast to rise 3.7 percent. The company announced in July that its long-time CEO would be stepping down in 2015.