Local/Regional

The two week stock Sell off had a scary downward spiral Yesterday when the Dow dropped more than 500 points. WNPV Market Watcher George Toth points to several factors that caused the dire conditions on Wall Street.


“What’s is going on in Europe is a liquidity crisis is a liquidity crisis for real. Number two, retail sales are so so. The past information for last week, the ISM was week. The ISM non manufacturing service was week. So, we have a week situation with a lot of week numbers. Then market is absorbing that and selling off.”


Toth predicts there could be more stock sell off to come.

A man who was sentenced from 10 to 25 years in connection with shooting a hunter is appealing his sentence. 49-year-old, David Manilla turned himself in to authorities after shooting a hunter on a piece of land he owns in Richland Township, bucks county on November 10th  of last. Manilla contended that the incident was an accident, but failed to immediately report the shooting. Manilla was not only prohibited from owning firearms, due to prior brushes with the law, but the rifle he fired when he killed 52-year-old Barry Groh is prohibited in use for hunting. Groh, a father of two, was from Quakertown. Manilla’s new attorney, Norris Gelman filed an appeal with the state supreme court. Its not known what the appeal deals with in the case, but bucks county chief deputy district attorney, Robert James says, the appeal is focusing on Manilla’s sentence.  The Bucks County D-D-D-A’s office and FBI are trying to determine how Manilla obtained 100 guns. On July 8th, Manilla pleaded guilty to involuntary manslaughter and related charges.

Despite the debt ceiling deal, the stock market took a dump on Tuesday. WNPV Market Analyst, George Toth says some disappointing economic reports trumped the debt deal on Wall Street.

 “We’ve got the debt talk sort off the table, Congress has left the city, the President has signed the bill and the residue here is the market is now saying wait a minute, the second half of this year could very well be sub-par growth.”

 The Dow Jones shed more 250 points in yesterday’s trading

Montgomery County continues to see a slow recovery from the economic downturn of 2008. This according to Univest's Phil Jackson, President of Cooperate Banking.

”There is good and bad news. The good news is we are not doing as poorly as the rest of the county. The Eastern part of Pennsylvania always does better than the national economies, but having said that, we haven’t seen the growth that we would liked to have seen at this stage. The economy is still suffering a little bit and that trickles down to all of the businesses in our community. So we’re not doing as well as we would like to be doing right now.”

Phil Jackson was a guest  Monday on WNPV’S talk program  Bux Mont Live