MTSU Audio Clips

• Our Economic Future
• Ned Ray Takes on Katrina

1. The recovery effort is underway in the Gulf Coast areas destroyed by Hurricane Katrina. But an MTSU economist doesn't think there will be an immediate demand for building materials. Dr. David Penn, director of the Business and Economic Research Center, says it's too early to expect an enormous boom in sales of plate glass and plywood.

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Penn says gasoline prices in Tennessee were on the rise prior to the storm. Gas prices from January to June of this year shot up 22 percent over the same period last year. But gasoline consumption remained virtually unchanged at 8.8 million gallons per day.

2. The counties of Middle Tennessee rank higher collectively in some economic categories than several entire states. Dr. David Penn, director of MTSU's Business and Economic Research Center, says the total Midstate payroll was 38.9 billion dollars in the fourth quarter of 2004.

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As for the housing market, Penn says Midstate real estate and housing construction growth has cooled. Demand appears to be growing slowly, but the evidence is mixed. He says energy price increases could have long-term consequences for housing development patterns if those price hikes are permanent.

3. The Midstate economy will continue to grow, but at a slower rate of growth than the post-recession average. That's the forecast from MTSU's Business and Economic Research Center. Its director, Dr. David Penn, predicts job losses will continue in certain areas of manufacturing.

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But Penn notes that payroll gains have more than offset payroll losses in Middle Tennessee since the recession. Earned income statewide in the first quarter rose 7.6 percent, equal to the national average, for a ranking of 19th among the 50 states.

4. Former Governor Ned McWherter has a suggestion to help rebuild the Gulf Coast areas ravaged by Hurricane Katrina.

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McWherter spoke Friday (Sept. 16) at MTSU, where he accepted an award from the College of Business. While admitting he was not totally familiar with all aspects of President Bush's plan for the Gulf Coast recovery, McWherter emphasized the importance of putting politics aside and working to help the people of coastal Louisiana, Mississippi and Alabama restore their dignity and their culture.

5. Questions continue about who was responsible for the slow initial relief response following Hurricane Katrina. But former Tennessee Governor Ned McWherter is taking his cue from the military man in charge, Lieutenant General Russel Honore (AH-noh-ray).

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McWherter was at MTSU Friday to accept an award from the College of Business. He says it's time for Democrats and Republicans alike to put politics aside and work together to rebuild the Gulf Coast. While offering little comment on the specifics of President Bush's recovery plan, McWherter called Bush a “man of God” who wants to do the right thing for all those affected regardless of race.

6. It's vital to the entire country to rebuild the Gulf Coast areas decimated by Hurricane Katrina. So says former Governor Ned McWherter. The 75-year-old creator of the TennCare health care plan for the poor and uninsured emphasizes the need to restore dignity to residents of Louisiana, Mississippi and Alabama who have lost everything.

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McWherter distances himself from issues of politics and race, saying he is sure President Bush is a “man of God” who wants to help all the hurricane-stricken people. He says it is just as important to restore the communities of poor African-Americans as it is to revive New Orleans' historic Garden District.

7. The man who implemented a 95-county jobs program to recruit business from overseas to Tennessee was rewarded for his life's work Friday (Sept. 16) at MTSU. Former Governor Ned McWherter was presented with the Jennings A. Jones Champion of Free Enterprise Award by the College of Business. Commenting on the economic devastation caused by Hurricane Katrina, the 75-year-old McWherter says it's essential to rebuild the ravaged Gulf Coast without regard to race and class.

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McWherter calls on Democrats and Republicans to put politics aside and work together to restore economic health to coastal Louisiana, Mississippi and Alabama. One suggestion he has for the rebuilding effort is for local and state governments to float low-interest bond issues backed by the federal government for purchase by the private sector.