January 1, 2009

Financial Forecast 2009

By Danielle Abbott

The past year may have been consumed with losses, pinching pennies and watching the economy as it continued to slump into the recession of 2008. With this calendar year coming to an end, many Americans are hoping that the turn in years may lead to a turning leaf in financial and economic standing. After watching this year cause so much heartache for those across the country, people are now planning for the future, and attempting to foresee if 2009 can bring any change in this economic slump. Though there is no crystal ball to magically show what the future holds for our country and local area, Donna Sommer, loan officer at Washburn’s Dakota West Credit Union, gave some helpful advice, and expectancies for the upcoming year. The troubled economy has ripped countless jobs away from employees, pushing hundreds into unemployment. Houses have been foreclosed, and prices on everyday items have fluctuated. Our current economic state is something that cannot be changed overnight, but luckily for McLean County residents, we have been fairly protected from the disasters that have touched so many other areas of the country. "Overall, we’re kind of sheltered in this area, because people still have their jobs," Sommer said. Two of the area’s corporations that are helping to insure the community’s security are the nearby power plant and coal mine. "A lot of people have employment there, and as long as they continue to stay open and do well, our area should stay in pretty good shape." And the Great River Energy does plan to continue operations as usual through the next year, which may be good news not only for those who work there, but the areas where those employees live and other areas that are touched by their profits and business.

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