AROUND TOWN

W. Columbia-based creative marketing agency Riggs Partners will hold its 22nd annual CreateAthon event to benefit area nonprofits Oct. 17-18.

CreateAthon is a 24-hour creative marathon during which professionals provide marketing services to nonprofit organizations on a pro bono basis.

South Carolina’s Midlands and Upstate nonprofits should submit a CreateAthon application by July 15. Applications now are available at www.riggspartners.com . Selected nonprofits will be notified in late August.

Memorial Day service

Caughman Harman Funeral Home will host their Memorial Day Service Monday.

Join them in thanking those who sacrificed for our nation’s freedoms May 27 at 10 am, at 503 North Lake Drive.

Light refreshments will be served following the service.

Fred’s keeps local stores open

Fred’s will close 159 unprofitable stores in 13 states by the end of May.

West Columbia, Gaston and the St. Andrews area stores will remain open.

The Memphis-based company that operates pharmacies and food stores said it will work to move employees to other stores if possible.

The company said it is continuing to pursue the sale of its remaining pharmacy assets.

Stores being closed include 11 in South Carolina.

Where have all the babies gone?

We are having babies at the lowest rate ever recorded.

This has important implications for our economy and workforce.

The total fertility rate has generally remained below the “replacement” level of 2.1 since 1971. A fertility rate below replacement level means that the US could see population declines and a workforce too small to support a growing segment of retirees.

The National Center for Health Statistics reported that the provisional number of US births in 2018 was 3,788,235, down 2% from 2017 and the lowest birth rate in 32 years.

The general fertility rate was 59.0 births per 1,000 women aged 15–44, down 2% from 2017 and another record low for the United States.

A growing population of young taxpayers is essential for a country that makes massive unfunded entitlement promises.

Home building makes a comeback

Home builders’ confidence rose this month to its highest level since last October.

The National Association of Home Builders reported its index of builder confidence in new single-family homes rose 3 points from a month earlier to 66 in May. Economists surveyed by The Wall Street Journal expected less – 64.

This was the 4th increase in 5 months after a 4th quarter weakened by rising interest rates and higher construction costs. Builder confidence picked up this year after mortgage rates eased.

The average interest rate on a 30-year fixed-rate mortgage hovered just above 4% last month, down from 4.87% in November, according to Freddie Mac.

Sales of new homes rose in March, but sales of previously-owned homes sputtered.

Cars sales face rough road

Economists expect auto sales to slump this year as the 2017 tax cut effects lessen demand from business buyers.

World-wide, light-vehicle sales fell 8%.

US automakers appear to be deserting the sedan market to take advantage of the growing popularity of trucks, vans and SUVs and facing competition from foreign sedan makers.

The industry faces problems from the decline in car vs truck sales to the long-term threats of climate regulation and ride-sharing companies like Uber and Lyft.