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6A – Daily News – Wednesday, January 5, 2011 Commerce business NEW YORK (AP) — A rally that pushed stocks up nearly 7 percent in December took a pause Tuesday as traders shrugged off a pickup in factory orders and a sharp rise in monthly sales from General Motors and Ford. Stock indexes started out with gains but mostly fell throughout the day, even after a better-than- expected report on facto- ry orders for November. The Dow Jones Industrial average of 30 large com- pany shares wound up slightly higher. Ryan Detrick, a senior analyst at Schaeffer’s Investment Research, said investors were hold- ing off after a sharp jump in stocks on Monday, the first trading day of 2011. ‘‘We had a big start to the year yesterday,’’ Det- rick said. The Standard & Poor’s 500 index lost 0.1 percent after rising 1.1 percent the day before. Investors also received minutes from the Federal Reserve’s last policy meeting in December. Fed officials said signs of economic growth weren’t enough to cut back its $600 billion bond-buying program, which is aimed at encouraging spending by keeping interest rates low. Fed officials said more time was needed before they would con- sider changing their plans. Automakers reported strong December and year-end sales figures. General Motors Co. rose 2.3 percent to $37.90 after reporting that its sales of cars and trucks in the U.S. rose 6.3 percent last year. Ford Motor Corp. gained 0.8 percent to $17.38 after reporting that its sales rose 15 per- cent in 2010. ‘‘These companies finally have the right cost structure and all the play- ers on board to make them profitable business- es,’’ said Frank Ingarra, a portfolio manager at Hen- nessy Funds. ‘‘The com- & enterprise Stock rally fades even after strong factory orders Wall Street panies that survived are benefiting from facing less competition.’’ The Dow rose 20.43 points, or 0.2 percent, to end the day at 11,691.18. The broader S&P 500 index dipped 1.69 points, or 0.1 percent, to close at 1,270.20. The Nasdaq lost 10.27 points, or 0.4 percent, to 2,681.25. Grocery store chains Supervalu Inc., Safeway Inc., and Whole Foods Market Inc. each fell more than 3 percent after a round of analyst down- grades. Alcoa Inc. jumped 4.6 percent to $16.52 to lead the 30 stocks that make up the Dow. McDonald’s Corp. had the largest fall, losing 3 percent to $74.31. Treasury prices were mixed after the Fed min- utes were released. The yield on the 10-year Trea- sury note, which moves opposite its price, edged down to 3.33 percent from 3.34 percent late Monday. Nearly two stocks fell for every one that rose on the New York Stock Exchange. Consolidated trading volume was 4.9 billion shares. Smart financial moves for new parents If you’ve just had a new baby, your life is filled with more joy (but less sleep). You’re proba- bly already aware of the time and effort you must invest in raising your child, but you may not have thought as much about another aspect — the financial one. Consider this: The aver- age cost of raising a child to age 17 is now $222,360, according to a U.S. Depart- ment of Agriculture report on how much middle- income, two-parent fami- lies spend on their off- spring. And this is the amount you might spend before your son or daughter heads to col- lege. vivor earn enough to raise and edu- cate your child? In this day and age, that’s not likely — so make sure you have ade- quate life insurance in place. • Prepare a will. Obvi- Susie Mustaine Clearly, you need to start making the financial moves neces- sary to take your child from diapers to a degree. Here are some sugges- tions for doing just that: • Purchase sufficient life insur- ance. When it was just you and your spouse, it was a good idea for you to have life insurance — but now that you have a child, it’s an absolute necessity. If you have any doubts about the value of life insur- ance, just look again at that $222,360 figure above, and then tack on the costs of four years of college. If you or your spouse were to die unexpectedly, would the sur- ously, you hope to enjoy a long life — one in which you see your child grow to adulthood. But none of us can predict the future, so it’s essential that you draw up a will to provide for the care of your child, both financially and phys- ically. When you create a will, you can name a guardian to step in and take care of your child, if necessary, and you can make sure your child receives your financial assets. How- ever, many people go beyond writ- ing a will and establish a living trust, which gives them more control over how and when they want their assets distributed. Your legal advisor can help you prepare a will and deter- mine if a living trust is appropriate for your needs. • Maintain adequate cash. To help pay for all those expenses related to child rearing, keep enough cash on hand. By having enough resources available in liquid accounts, you can avoid having to dip into your long-term investments to pay for short-term needs. • Save early and often for col- lege. It’s never too soon to start sav- ing for the high costs of higher edu- cation. A 529 plan is a tax-advan- taged vehicle and may be a great option for your college savings. Contributions to a 529 plan are made with after-tax dollars, and have the opportunity to grow tax- free. Withdrawals used for quali- fied higher education expenses are also tax free. Furthermore, your 529 plan contributions may be eligible for a state tax deduction or credit depending on the plan and state. • Stay balanced. As we’ve seen, it takes a lot of money to raise a child. But even as you’re meeting these expenses, think about your own future, particularly your retire- ment. Strive to strike a balance between the money you spend on your child and the amount you invest in your 401(k), IRA and other retirement-savings vehicles. You can't put a price-tag on your child's future, but when it comes to taking care of that child, you’ll want to know the costs involved — and be prepared for them. Susie Mustaine is a a financial advisor for Edward Jones, her office is at 2130 Main St., Ste. B, in Red Bluff and she can be reached at 527-4729 or susie.mustaine@edwardjones.co m. Remotes coming to Netflix-streaming devices LOS GATOS (AP) — Netflix fans will soon be able to use a remote con- troller to flick through their flicks available for stream- ing over the Internet on devices such as TV sets, Blu-ray players and others. Netflix Inc. said Tuesday that consumer electronics companies will begin sell- ing remotes with “Netflix” buttons in the spring. The buttons will bring up the Netflix screen on users’ TV sets, providing easier access to TV shows and movies. Though the button will like- COMFORT SERVICE INC. Air Conditioning & Heating Tehama Counties Factory authorized Bryant Dealer Your First Call For Comfort • RESIDENTIAL • COMMERCIAL • NEW CONSTRUCTION • SALES • SERVICE • REPAIRS 24 HOUR SERVICE 530 529-1990 Lic #593323 www.CascadeComfort.com $10 OFF SERVICE CALL Mention this ad for Gayle’s Whatever it takessm Tuxedo Rentals Moving to 623 Main Street Downtown Red Bluff COMPLETE AUTO REPAIR All makes and models. We perform dealer recommened 30K, 60K, 90K SERVICES AT LOWER PRICES Smog Check starting at $ (most cars and pick-ups) 2595 + cert. Pass or FREE retest 527-9841 • 195 S. Main St. K W I K K U T S Family Hair Salon $300 REGULAR HAIRCUT off with coupon Not good with other offers 1064 South Main St., Red Bluff • 529-3540 Reg. $13.95 Expires 1/31/11 CASCADE Mark's Fitness *Get into Shape, Get Healthy, & Enjoy a Good Quality of Life!* * Private Personal Training - FREE Consultations! ! * Public Spin Class: M-W-F @ 6 PM - Ask about monthly FREE classes! ACE Certified & Senior Fitness Assn. Certified Personal Trainer (530) 941-2832 821 Walnut St. Red Bluff Installation dinner approaching soon • Happy New Year! – The Corning Chamber of Commerce wishes all of you a happy and prosperous New Year. We look forward to serving you in 2011 and getting to know our members better. We hope that you will attend as many of the monthly social meetings as you can and let us know who you are and what services your business or organization has to offer. We hope that you, as a member will take advantage of the opportuni- ty to get your business name or organization recognized by attending our events. • Chamber Office Closed – Next week, from Mon- day, Jan. 10 to Friday, Jan. 14, the Corning Chamber office will be closed. We are sorry if this will be an inconvenience to anyone. • Chamber Reporter – The monthly newsletter, The Chamber Reporter, was sent last week via e-mail, (and to a few who requested we sent by regular mail), and we have already received positive responses from a number of members. We have the ability to present everything in color, which is a nice addition, and it is easier to read. We are working to make sure that every member receives the newsletter but there is a possibili- ty that you did not receive one because we don’t have your email address. There are also a few that have been returned with an incorrect address. If you are a member and did not receive the newsletter via e-mail or by mail, please contact the Chamber office at 824-5550 to let us know. The events calendar is something that most peo- ple like to have to keep informed about what Chamber events are taking place and what other members are doing. If there are several in your office and you would like each one to receive the newsletter, just e-mail their addresses to the Chamber at corningchamber@sbc- global.net and we will include them on our list. • Installation Dinner – The Chamber’s Annual Installation Dinner will take place Saturday, Jan. 29 at the Veteran’s Memorial Hall. A no-host reception begins at 6 p.m. and the dinner is at 7 p.m. Tickets are $20 per person and the reservation forms have been sent in the newsletter, but if you did not receive one and would like to attend, call the Chamber and we will send you one, or you may stop by when we are open. The new officers on the Chamber Board of Directors that will be installed are: Willie Smith of Corning Christian Assistance – President, Barbara Landavazo of US Bank – Past President, Glen Nixon, US Bank – President Elect, and Terry Barbo, Rabobank – Treasur- er. New directors are: Steve Barrett of Valero, Don Holden of House of Brews Specialty Coffees, Amy White of Olive City Insurance Agency, and Bill Williamson of Verizon Wireless. Continuing Directors are: Sonja Akers - Shane Akers Photography, Tony Cardenas -Individual, C, Jerome Crow – Individual, Carolann Fernandez – Individual, Ronda Haywood – H&R Block, Jodie Hughes – Corning Furniture and Gifts, Jocelyn Olander – J.C. Olander Attorney at Law, Linda Tousey – Bell Carter, and Marti Syed – Individ- ual. We are very thankful to have men and women who are willing to give of their time and talents to serve on the chamber board. ——— This column is prepared and submitted by the Corning Chamber of Commerce. Power Balance admits no science behind wristbands SANTA ANA (AP) — Shaquille O’Neal swears by them. He says the Power Balance bracelet gives him a competitive edge on the court. It’s no gimmick. He says it’s for real. It may be for him. But Australian authorities say the California-based ly only save couch potatoes a few seconds of time, its appearance is another sign that Netflix has become a household name. company behind the wildly popular wristbands and pendants has no business claiming that they can improve balance, strength and flexibility. And they even got Power Balance to admit it. The company’s admission, however, hopped across the globe. Critics railed against the company on Twitter and those who had believed in the bracelet’s power. BOOK BARN 619 Oak St., Red Bluff (530) 528-2665 Tues-Fri 10am-5pm Sat. 10am-2pm Happy New Year Thank you to all our loyal customers. We are looking forward to serving you in 2011 Jack & Linda Gaines Tehama District Jr. Livestock Annual Meeting Wed., Jan 12th 6pm held in the Tehama Room @ Tehama District Fairgrounds