Business Notebook: Jeanne's Shop under new ownership, operations to remain mostly unchanged

Posted: Jan. 2, 2013 3:16 pm Updated: Jan. 23, 2013 7:15 pm

Herald-Whig Senior Writer

Jeanne's Shop at 108 N. Sixth came under new ownership New Year's Day.

Jeanne Sampson has sold the resale boutique to Cindy Miller, a longtime consigner. Sampson said she will be retiring and eventually moving to a lake home in Iowa.

Jeanne's Shop has been around for a little more than eight years. It was started at 634 Maine and moved to the North Sixth site about two and a half years later.

Sampson won the Historic Quincy Business District's Business of the Year Award in 2010.

HQBD Executive Director Travis Brown said the business transition has been smooth.

"It's been really good for the customers," Brown said. "After Jeanne announced that she was going to retire everybody said they didn't want to see the consignment shop close."

Sampson described the consignment store as "a resale boutique" with high end women's clothing for resale. New scarves and handbags also make up much of the shop's business.

Miller plans to continue most of Jeanne's Shop operations as they have been.


GREDF search

The Great River Economic Development Foundationn's search committee is making progress on finding a new president, GREDF Board Chairman Tim Finlay said.

Efforts to fill the position vacated by Jim Mentesti's retirement began with the establishment of an 11-member search committee and completion of a job analysis. Advertising for the job began in November, and applications were accepted through mid-December. Initial screenings and interviews will be held in coming weeks.

"We are thankful to have a very professional and knowledgeable community and business representatives as members of the committee. Each is invested in getting the person who best meets the job qualifications in this leadership position," Finlay said.



New vehicle sales in the United States are expected to be 14.5 million when final statistics are released. Polk market research firm forecasts 15.3 million vehicle sales in 2013, representing a 6.6 percent increase. ... The MSCI all-world index ended 2012 up 13 percent on the year. The Standard & Poor's 500 was up 12.5 percent, and the Nasdaq was up 15 percent. ... December's manufacturing survey by the Dallas Federal Reserve showed strong gains compared with November's survey, but low overall numbers. General activity rose to 6.8 in December, up greatly from the negative 2.8 reading in November. The overall production index was 2.7, up from 1.7 in November. ... USDA's annual Food Price Outlook Report forecasts that grocery prices will rise 3 to 4 percent this year. Cereals and bakery products will be among the fastest-rising foods in terms of price. ... The Federal Communications Commission has posted proposed rules to limit the costs of interstate phone calls made from prisons. Some phone bills cost $16 for a 15-minute call and may require prisoners to call collect. ... America's top five mortgage lenders -- Bank of America Corp., Wells Fargo and Co., JPMorgan Chase and Co., Citigroup Inc., and Ally Financial Inc. -- are expected to pay most of the $10 billion still sought by the Office of the Comptroller of the Currency on a settlement dealing with home loan foreclosures that did not follow all federal rules. Nine other banks have not settled their part of the lump-sum deal. ... Bristol-Myers Squibb ended 2012 on an up note with FDA approval of the anticlotting drug Eliquis. The new drug is expected to capture attention from patients who face bad reactions from Coumadin.


The good

One measure of household debt fell to its lowest level in 29 years, according to the Federal Reserve. Loan payments fell to 10.61 percent of disposable income late in 2012.


The bad

Analysts cannot agree on whether oil prices will go up or down in 2013. The 2012 average price on a barrel of crude was about $94.35. Praveen Narra of Raymond James expects Brent oil to average just $80 per barrel, while Goldman Sachs and Morgan Stanley see an average of about $110.


The ugly

Identity theft rings have been stealing Social Security numbers from prison inmates to seek tax refunds, unemployment benefits and student loans. Thieves have been emboldened by the fact that prisoners can seldom check their credit reports.


Quote of the Week

"Traders understand that this is a stop-gap measure, but they'll take it. Markets can rally with some growth, but not with no growth."

-- Quincy Krosby, market strategist at Prudential Financial, speaking on a solution to the financial cliff