08/21/2006

Hey, Copper!

Hello:

"The stock market has a copper roof" is an old saying on Wall Street. What it indicates, is that when the price of copper peaks, then the stock market peaks also. So what is the latest on copper?

Today, BHP Billiton offered a 4% wage hike plus increased benefits to it's union copper mine workers in Chile who downed their tools two weeks ago. Why the quick negotiation? Because copper consumption has increased dramatically not only in China and in India, but also due to the manufacture of hybrid cars.

It would not surprise us if the copper market (ergo the stock market, we hope) will be strong next year, particularly if they start selling Priuses in Shanghai and Mumbay!

Last week, the Pension Protection Act of 2006 (PPA) was signed into law. Watch this space for information on how the PPA may benefit you, your family and your donors.

Terri G. Millson, CIMA, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager