Clay & Kathie Kime : Announcements

MOMs of Mantua - Children's Clothing Sale - Saturday, September 15th

Clay & Kathie Kime — Thu, 13 Sep 2007 15:23:00 GMT

Don't miss the semi-annual MOMs of Mantua Sale of Children's clothing, toys and gear Saturday Sept 15: 8am-1pm upstairs in the pool clubhouse. The sale closes at 11:45 and reopens at 12:10-1:00pm for 1/2 price sale.

Volkswagen Headquarters Moving to Herndon, VA

Clay & Kathie Kime — Mon, 10 Sep 2007 16:02:00 GMT

Volkswagen Arrives Bearing Gifts

To lure Volkswagen of America to Herndon, Virginia Gov. Tim Kaine (D) worked for seven months and authorized $6 million in incentives.

So when he arrived this morning for the formal announcement ceremony to talk about the importance of Volkswagen's move to Northern Virginia, he first stopped a quarter mile from the Woodland Park site, exited his official Suburban and got into an Audi 8A, one of the major brands manufactured by Volkswagen.

Volkswagen is moving from Auburn Hills, Mich., near Detroit, as part of a corporate restructuring (see story) that will slash 400 jobs in Michigan and move 400 additional jobs to Herndon. It will also result in $100 million in investment in the new headquarters.

Kaine, Volkswagen of American chief Stefan Jacoby, Fairfax Economic Development Authority chief Gerald Gordon and Fairfax County Board of Supervisors chairman Gerald E. Connelly made the announcement this morning in front of about 60 people overlooking the new building. A handful of reporters, photographers and and cameramen chronicled the event.

Kaine presented Jacoby with Virginia's flag. Then Jacoby spoke, discussing his vision for his company -- which has experienced sagging sales in the United States -- and announced he had a small present for Kaine.

Kaine wondered whether it was the keys to a a silver Audi R8 over his right shoulder. (That's a $130,000, 420 horsepower beauty that can go from zero to 60 in four seconds.)

Alas, his gift wasn't so elaborate. Jacoby gave Kaine a toy model of the original red Volkswagen Beetle, perhaps the car most associated with the company in the United States.

In his talk, Connelly (D) used the opportunity to tout the new rail to Dulles that Virginia wants to build. After the event, both he and Kaine were peppered with questions about how Virginia would meet cost caps for receiving federal help.

Guests snacked on water and Panera pastries as they inspected the selection of Volkswagen cars, including a Eos convertible and modern Beetle.

--Zachary A. Goldfarb - Washington Post.com Biz Blog

Connolly awarded 2007 Tom Bradley Leadership Award

Clay & Kathie Kime — Tue, 26 Jun 2007 14:29:00 GMT

Gerald Connelly, Chairman of Fairfax County Board of Supervisors, was awarded the prestigious Leadership Award on Monday at the National Association of Regional Councils' annual meeting and convention. Chairman Connolloy was recognized for his leadership at the Metropolitan Washington Council of Governments and for his dedicated pursuit of funding for the Washington Metropolitan Area Transit Authority

Vienna "Relay for Life" - June 9th & 10th

Clay & Kathie Kime — Thu, 07 Jun 2007 21:56:00 GMT

The Vienna "Relay for Life" will be held this weekend at George C. Marshall High School, 7731 Leesburg Pike near Tysons Corner. So far pleges have topped $240,000 and event organizers are hoping to exceed last years total of $400,000. All proceeds go to benefit the American Cancer Sociey.

CLICK HERE FOR THE OFFICIAL WEB-SITE FOR MORE INFORMATION AND SCHEDULE

Celebrate Fairfax - Fairfax County Expo (June 8th - 10th, 2007)

Clay & Kathie Kime — Wed, 06 Jun 2007 13:25:00 GMT

Celebrate Fairfax
Northern Virginia's largest community-wide celebration, Celebrate Fairfax!, arrives June 8-10, at the Fairfax County Government Center. This annual festival is filled with fascinating sights and sounds with more than 400 exhibitors, vendors, crafters, and interactive activities. Celebrate Fairfax! includes live concerts on six stages, a SciTech Center, a children's avenue, great food, the award winning County Expo program, and a nightly fireworks display. For more information, updates, and to buy advance tickets, please contact Celebrate Fairfax, Inc., 703-324-3247, TTY 711 or www.celebratefairfax.org.

Fairfax' Mantua Readies for the Renown Annual Parade and Picnic (Saturday, June 9th)

Clay & Kathie Kime — Tue, 05 Jun 2007 14:09:00 GMT

On June 9th, the Annual Mantua Parade and Picnic will take place between 11:00 a.m. and 3:30 p.m. The Mantua Citizens’ Association is once again pleased to sponsor this welcome to summer with the Mantua Swim and Tennis Club. This is one of the most enjoyable community events of the year and we hope everyone in Mantua will join us for a day full of fun, food, and activities.

Our parade will begin at 11:00 a.m. and will proceed from the down Prince William Drive from the corner with Horner Court, turn left on to Glenbrook, and proceed up Glenbrook to Pentland Place.

REMINDER: Prince William Drive will be "Closed to Traffic" between Glenbrook and Horner Court from approximately 10:45 a.m. until 11:30 a.m.

The parade will end at the parking lot of the Mantua Swim and Tennis Club. Once again this year, the parade will include vehicles from the Fire Department, and many of our local elected representatives. Mantua’s own Rocky will make an appearance. All children and their parents are welcome to march or ride their bikes in the parade! Special prizes will be awarded for the best decorated bikes and strollers.

The parade staging area is the corner of Prince William Drives and Horner Court.

If you wish to ride or walk in the parade, please park in the Mantua Elementary parking lot and assemble at Horner Court by 10:45 a.m.

The picnic will be at the Swim and Tennis Club and will begin immediately after the parade! There will be plenty of food, fun, music, swimming and games for everyone. Fairfax County emergency vehicles will be on display in the parking lot for all to see and there will be a moon bounce for the children courtesy of Bernie Amusements. Cheryl Thompson will once again serve as emcee for the day's activities.

This is a community event and all Mantua residents are welcome to join in the both the parade and the picnic at the Swim and Tennis Club. For our new Mantua residents, this is a great opportunity to meet your neighbors. For long-time residents, this is a perfect opportunity to see old friends and meet the new faces in the neighborhood.

Ya'll come now!

Easy Tax Credit for almost EVERYONE! Thanks Teddy Roosevelt! (But Hurry.)

Clay & Kathie Kime — Thu, 05 Apr 2007 15:08:00 GMT

ITS REAL! - - - ITS CASH IN YOUR POCKET! - - - ITS A ONE TIME TAX CREDIT FOR TAX-YEAR 2006 ONLY! DO IT NOW! (REFUNDABLE TAX CREDIT not DEDUCTION)

When it comes time to prepare and file your 2006 tax return, make sure you don't overlook the "federal excise tax refund credit." Claim the credit on line 71 of Form 1040. A similar line will be available if you file the short form 1040A. If you have family or friends who no longer file a tax return AND they have been paying a phone bills for years, make sure they know about this form 1040EZ-T.

The Federal Excise Tax, was imposed in 1898 to help fund the Spanish-American War. One of the things it taxed was telephone service. The war ended and the bills for it were settled up, but the tax stayed in place. When phone companies began to offer flat fee phone service, challenges to the excise tax ended up in federal courts. The challenges pointed out that flat fee/rate phone service had nothing to do with the distance and the length of the phone call. Therefore, the excise tax should/could not be assessed. The IRS has conceded this argument and phone companies were given notice to stop assessing the federal excise tax as of Aug 30, 2006. You will most likely see the tax on your September cutoff statement, but it should NOT be on your October bill.

The challengers also demanded restitution. So the IRS announced that a one time credit will be available when you file your 2006 tax return. However, the IRS also established limits on how BIG a credit you can get.

Here's how it works. If you file your return as a single person with just you as a dependent, you get to claim a $30 credit on line 71 of your 1040. If you file with a child or a parent as your dependent, you claim $40. If you file your return as a married couple with no children, you claim $40. If you file as married with children, you claim $50 if one child, $60 if two children. The most you can claim is $60 –

UNLESS . . . you have all your phone bills starting AFTER Feb 28, 2003 through July 31, 2006 (do not use any bills starting Aug 1, 2006.),

. . . then you can add up the ACTUAL TAX, AS IT APPEARS ON YOUR BILLS AND CLAIM THAT (plus statutory interest) FOR A TAX CREDIT. (Don’t forget to check your Cell Phone Bills too!)

Now if you have your phone bills and come up with an ACTUAL TAX AMOUNT, you have to complete IRS form 8913 and attach to your tax return. Individuals using the special from 1040EZ-T must attach this form 8913 also. One final point - this credit is a refundable credit. That means you get this money, no matter how your tax return works out. If you would end up owing the IRS a balance, this Tax Credit will reduce that balance you owe. If you end up getting a refund, the credit will be added.

This is a one-time tax credit, so those who fail to file for it on their 2006 returns will likely lose their shot at claiming it.

Mantua Community Project - Potomac River Watershed Cleanup - Saturday March 31st

Clay & Kathie Kime — Thu, 29 Mar 2007 13:22:00 GMT

We Need Volunteers this Saturday!

Potomac River Watershed Cleanup in Mantua

9:00-11:30am at Thaiss Park

Please join the rest of your Mantua neighbors as we participate in the 19th annual Potomac River Watershed Cleanup on Saturday March 31st. We will be helping to clean up the portion of the Accotink Creek that passes through Mantua and that so many of us enjoy. Have fun with your neighbors while making a difference for our community and the environment!

Please visit

http://www.potomaccleanup.org/trash_initiative/rc_volunteer.html

or contact Kevin Mangis (kmangis00@yahoo.com or 703-207-2086) with any questions.

* We will meet at Thaiss Park (the ballfields off of Pickett Road near route 50) and work our way through the park behind Santayana toward Barkley Drive.

* Volunteers should arrive by 9am and will work no later than 11:30am (unless they really, really want to!).

* Trash bags and gloves will be provided to all volunteers. Feel free to bring along your own work gloves, rakes, or grabbers.

* Clothes and shoes may get dirty. Wear old clothing that is weather appropriate and bring extra layers. Rain ponchos, waterproof boots, or waders may be helpful. Be careful of poison ivy in the woods!

* Anyone can help us pick up trash! There are some areas (the woods and the creek) that may require lifting and walking on rocky/slippery terrain. Other areas (ballfields, parking lot, trail) are less demanding and are great for those that prefer not to enter the woods.

* The Cleanup still happens in the rain, and despite what you may think, wet weather can make the day even more fun. In the event of severe storm warnings or environmental hazards, cancellations will be posted on the following website:

http://www.potomaccleanup.org/trash_initiative/trash_cleanup.html

See you on the 31st!

Kevin Mangis, MCA Parks and Environment Committee

March 21st: Fed's FOMC Hold Fed-Funds Rate Steady at 5.25% - As expected.

Clay & Kathie Kime — Wed, 21 Mar 2007 20:06:00 GMT

Here is the statement released by the Federal Open Market Committee on Wednesday (March 21st):

The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.

"Recent indicators have been mixed and the adjustment in the housing sector is ongoing. Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters.

"Recent readings on core inflation have been somewhat elevated. Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain those pressures.

"In these circumstances, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.

"Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Cathy E. Minehan; Frederic S. Mishkin; Michael H. Moskow; William Poole; and Kevin M. Warsh."

February '07 Housing Starts:UP - Building Permits: DOWN

Clay & Kathie Kime — Tue, 20 Mar 2007 15:47:00 GMT

The Commerce Department and HUD jointly reported today that Housing Starts for February '07 were up 9% over the previous month (January '07) which is still sat a 28% lower rate than one year ago (February '06). Click Here to read the Government's Complete Report.

Additionally the government reported that "new building permits issued" were lower by 2.5% from the previous month (January '07) and likewise 28% lower than one year ago (February '06).

While this is not great news for the homebuilder industry, it is great news for the overall housing market as it further reduces the inventory glut of unsold newly constructed homes and brings us ever closer to equalibrium of supply and demand.

Additionally, MarketWatch reports:

The data are not likely to have much impact on the deliberations at the Federal Reserve later Tuesday and Wednesday. The Federal Open Market Committee is expected to keep its overnight interest rate target steady at 5.25%. The last time, the committee noted some "tentative" signs of stabilization in the troubled housing market, but since then, bad subprime mortgages have surfaced, upsetting investor sentiment.

Completions of new homes fell 9.4% to a seasonally adjusted annual rate of 1.66 million, an indication that builders are ramping down their inventories. It's the lowest number of completions since August 2003. It takes about 6 months for a home to go from groundbreaking to completion.

Pre-Fed Meeting Economic Data Reports: Lack-Luster - 30-Year Rates Favorable

Clay & Kathie Kime — Fri, 16 Mar 2007 20:43:00 GMT

Local 30-Year Conforming Rates stabilize at 5.875% (0+0). Source: Jawad Hamandi: B.F. Saul Mortgage - (703) 787-4822

MarketWatch.com reports:

In BLS reports released today, the Labor Department said Consumer Prices (CPI) rose 0.4% (higher than analysts 0.3% estimates) in February, driven by higher food, energy, shelter and tobacco prices. However, Core CPI prices rose a more moderate 0.2% in line with analysts expectations.

The Reuters/University of Michigan Consumer Sentiment Index fell to 88.8 in March from 91.3 in February, Reuters reported Friday. The decline was exactly as expected by economists surveyed by MarketWatch.

Both subindexes were also at the lowest levels since September.

Attitudes about the current economy fell to 103.6 from 106.7 in February.

The expectations index dropped to 79.3 from 81.5 in February. The expectations index is one of the 10 leading economic indicators.

Consumers' inflation expectations were unchanged from February. Over the next year, consumers expect prices to rise 3%. Over the next five years, they expect prices to rise 2.9% annually. The Fed watches the UMich inflation expectations carefully for signs of slippage.

And higher utility output pushed Industrial Production up 1% in February, the Federal Reserve reported. Factory output rose 0.4%. Capacity utilization rose to 82%.

Commerce Department Reports "Continued Slowing of New Construction Homes for January 2007"

Clay & Kathie Kime — Wed, 28 Feb 2007 18:21:00 GMT

The housing market continues to adjust to "market balance." The latest report on new construction sales shows a reduction of 16.6% in sales volume from the Commerce Deptartmant's revised December 2006 figures. Today's Commerce Dept. Report shows slow, but steady absorbtion of Builders' inventory and continuation of the slowing of new housing starts. The inventory of unsold new homes eased to 536,000 from 537,000, representing a reductionn to a 6.8-month supply at the January sales pace. Read the full report.

This news falls on the heels of yesterday's report by the National Association of Realtors that sales of "existing homes" in January 2007 (the same period) were up 3.0% from December 2006.

U.S. stocks plunge to worst 1-day drop since 2001 - DOW Closes Down 415 Points Today!

Clay & Kathie Kime — Tue, 27 Feb 2007 23:53:00 GMT

By Nick Godt, MarketWatch

Last Update: 5:56 PM ET Feb 27, 2007

NEW YORK (MarketWatch) -- U.S. stocks plunged to their worst one-day performance since 2001 on Tuesday, with the Dow Jones Industrial Average losing 200 points in one minute around 3 p.m. before recovering some ground by the close, after a sell-off in China fueled concerns about growth.

Following weakness last week, the blue-chip average has now erased all its gains for the year so far.

After sliding all day, U.S. stocks seemed to fall off a cliff in the afternoon, as data providers failed to keep up with selling programs, noted Stephen Sachs, head of trading at Rydex Investments.

"There's not even a flight to quality into gold or the Swiss franc, which tells me that we're closer to the beginning than to the end of this," Sachs said.

At about 3 p.m., the drop in the Dow accelerated and in the blink of an eye was down 546.20 points because of a price tabulation error at Dow Jones, which calculates the average in real-time and transmits the figure to market-data providers. According to Dow Jones, there was a temporary lag in its calculation and when a backup computer came on line, the displayed average instantly spiked lower to catch up with the current level.

Trading volumes hit record levels on the New York Stock Exchange, where more than 2.3 billion shares exchanged hands. More than 3 billion shares traded on the tech-heavy Nasdaq stock market.

Declining issues outpaced gainers by 29 to 4 on the NYSE and by 14 to 1 on the Nasdaq.

The S&P 500 index ($SPX : S&P 500 Index dropped 50 points, or 3.5%, to 1,399, while the technology-heavy Nasdaq Composite (COMP :

Nasdaq Composite Index took the brunt of the selling, falling 96 points, or 3.9%, to 2,407. Both indexes put in their worst one-day point declines since September 2001.

"Whether it's contained to today or if it's the beginning of a more serious correction, we'll have to see over the next couple of days," said Paul Nolte, director of investments at Hinsdale Associates.

Leading Economic Indicators - Up Slightly for January 2007

Clay & Kathie Kime — Wed, 21 Feb 2007 18:47:00 GMT

The Conference Board announced today that the U.S. leading index increased 0.1 percent, the coincident index increased 0.1 percent and the lagging index decreased 0.1 percent in January 2007. Click Here to Read the Full Conference Board Press Release.

The leading index is still slightly below its most recent high in January 2006 and it has been flat to declining in seven of the last twelve months, but its six-month growth rate has picked up in the last two months. At the same time, real GDP growth picked up to a 3.5 percent annual rate in the fourth quarter of 2006 according to advance estimates, following a 2.0 percent rate in the third quarter of 2006. The recent behavior of the leading index still suggests that slow to moderate economic growth is likely to continue in the near term. This is further support for the projection that the Fed will leave rates unchanged at the March 20-21 FOMC meeting.

The next release of Leading Economic Indicators for February 2007 will be released on March 22nd, the day after the Fed adjourns the March FOMC meeting.

The Conference Board is the world's preeminent business membership and research organization. Best known for the Consumer Confidence Index and the Leading Economic Indicators, The Conference Board has, for almost 90 years, equipped the world's leading corporations with practical knowledge through issues-oriented research and senior executive peer-to-peer meetings.

Consumer Price Index (CPI) for January 2007 - Higher than Expected

Clay & Kathie Kime — Wed, 21 Feb 2007 18:17:00 GMT

U.S. Department of Labor announced today (February 21st) The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in January, before seasonal adjustment. Click here to view the Bureau of Labor Statistics Report. The January level of 202.416 (1982-84=100) was 2.1 percent higher than in January 2006.

Analysts and Fed Watchers were forecasting an Increase in CPI of 0.1% and a Core CPI increase 0.2%. Actual reports were 0.1% higher than expected. Primary items leading the increase were Food & Beverage and Medical Costs.

The next release of CPI data for February 2007 will be on March 16th, on the heels of the Federal Reserve's FOMC, rate-setting, meeting on March 20-21.

Today's report would seem to indicate that the potential for the Fed to reduce the Fed Funds Rate from the current level of 5.25% is diminished to near zero. Unless February's CPI numbers show a significant increase (signs of inflation) the Fed will likely leave the rate "unchanged."