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Today's Kern County Economic Summit was packed with info. Check out the blue bar to the left, which is a copy of the State of the Economy report Cal State Bakersfield economics professor Abbas Grammy put together. It was part of the information packet given to attendees at today's summit at the Doubletree Hotel. Grammy, a fixture at the conference for eight years, was the first main speaker. And he acknowledged that last year he "did not know the depth of the subprime mortgage crisis" that has since hit our community. Some highlights from his remarks: • For the first time in 10 years, he expects the Business Outlook Index to fall below 100. Numbers below 100 indicate pessimism; above 100, optimism. • He expects the Consumer Sentiment Index to be above 100 in 2008, but to "deteriorate" compared to 2007. • Kern's population is growing at about 2.6 percent per year. If that keeps up, we'll have 1 million people by 2016. • 25 percent of...
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