Taking Stock in Alexandria
Many of you follow market indices such as the Standard & Poor’s 500. Now, all of us can access an important local financial barometer, the Alexandria Index©. Much like other stock indices provide snapshots of national economic information, this Index takes the pulse of our local economy.
The Alexandria Index© provides an economic indicator targeted at our city; a place we know and understand. The Index comprises companies where we work and shop; businesses we know. Business and political leaders can use the Alexandria Index© to influence companies to locate in our city.
The performance of the Alexandria Index© over the past 5 years shows great strength in our local economy. While other indices declined in 2001 and 2002, the Alexandria Index© held fairly steady. As the nation’s economy improved between 2003 and 2006, Alexandria did even better. Since January 2, 2001, $10,000 in the Alexandria Index© would have turned into more than $27,000. The same investment in the S&P 500 would be worth only $18,000. The Index is a great way for business leaders, public officials, and each of us to obtain a quick snapshot of the city’s economic health.
The Index consists of 14 publicly traded companies influencing our city’s economy. They represent hospitality, real estate, construction, transportation, technology, and banking. Three companies, Avalon Bay, Burke and Herbert Bank & Trust, and Cuisine Solutions, are headquartered in Alexandria. The other 11 companies each employ at least 250 employees in the city, according to the Alexandria Economic Development Partnership, Inc. These are Michael Baker, Choice Hotels, Computer Sciences Corp., Federated Department Stores, Home Depot, Hilton Hotels, Marriott, McDonald’s, Safeway, Sears, and United Parcel Service.
The Index represents a stock portfolio of equal dollar amounts of each of the companies. Index calculations started January 2, 2001, and include a total return calculation, with both price changes and reinvestment of dividends. As changes occur, such as mergers and acquisitions, stock splits, or relocations, the Index is re-evaluated.
If you’re looking for a great way to know about Alexandria’s economy, just check the Alexandria Index©. Next time, we’ll discuss local operation of a national brand.
Be sure to ask your neighbors if they checked the Alexandria Index© today!
The Alexandria Index© is owned and distributed by Wesling Financial Planning Services Corp., 101 N. Columbus St, Suite 410, Alexandria, VA. For information or permission, phone 703.535.8280 or email email@example.com. All rights reserved.
The Alexandria Index©is also published in the Alexandria Times.
The companies in the Index are:
|Company Name||Stock Symbol||Company Name||Stock Symbol|
|AvalonBay Communities||AVB||The Home Depot, Inc.||HD|
|Michael Baker Corporation||BKR||Hilton Hotels Corporation||HLT|
|Burke and Herbert Bank and Trust||BHRB||Marriot International, Inc.||MAR|
|Choice Hotels International, Inc.||CHH||McDonalds Corporation||MCD|
|Computer Sciences Corporation||CSC||Sears Holdings Corporation||SHLD|
|Federated Department Stores||FD||Safeway Inc.||SWY|
|Cuisine Solutions, Inc.||FZN||United Parcel Service||UPS|
Clicking on the company's name will open up a new browser window and take you to the company's investor relations page. These companies are not affiliated with Wesling Financial Services Corp.