Scott Lanman, Bloomberg
Bernanke: Fed Prepared to Take Action to Boost Growth
Federal Reserve Chairman Ben S. Bernanke said the central bank stands ready to take additional steps to boost U.S. growth and cautioned lawmakers against budget moves that would harm a “sluggish” recovery.
The Fed “will continue to closely monitor economic developments and is prepared to take further action as appropriate to promote a stronger economic recovery in a context of price stability,” Bernanke said today in testimony to Congress's Joint Economic Committee in Washington.
The remarks signal Bernanke may not be finished after attempts in August and September to strengthen record monetary stimulus with unconventional tools. The central bank's near-zero benchmark interest rate and $2.3 trillion of housing and government-debt purchases since 2008 have failed to produce self-sustaining growth in the economy and employment.
Yesterday's Top Performing Small Cap Stock:
Tootie Pie Company TOOT
Tootie Pie Company was a SmallCapVoice top performer closing up over 10% on trading volume of 10,640 shares.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual consumers through in-store sales, orders via telephone and internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels.
Today's SmallCapVoice.com Hot Stock to Watch:
Stronghold Metals Inc. (TSX-V: Z OTCQX:SDMTF)
Standard & Poor's Initiates Factual Stock Report Coverage on Stronghold Metals, Inc.
NEW YORK-(BUSINESS WIRE) – Standard & Poor's announced today that it has commenced Factual Stock Report coverage on Stronghold Metals, Inc.
Stronghold Metals Inc. (TXV:Z; OTCQX:SDMTF) , in the exploration stage as of May 31, 2011, engages in the acquisition, exploration and development of mineral properties, primarily in South America. The company's two main projects are the Eagle Mountain Gold Project in Guyana and the Tucuma Project in Brazil. In August 2011, Stronghold entered into a letter of intent to sell the Tucuma Project to Kensington Court Ventures Inc.
The Eagle Mountain Project comprises an area of approximately 5,050 hectares (12,480 acres) in central Guyana, 200 kilometers southwest of the capital, Georgetown, and 45 kilometers from the historic Omai Gold Mine. In September 2010, Stronghold entered into an earn-in and joint venture agreement with a subsidiary of IAMGOLD Corporation, under which the company has been granted the right to acquire in stages up to 95% interest in the property.
Other Small Cap News
Enova Systems, Inc. (NYSE Amex: ENA)
Enova Invited to Participate in USAF Industry Event at Los Angeles Air Force Base
Facility expected to replace 100% of fleet with Electric Vehicles
TORRANCE, Calif.–(BUSINESS WIRE)– Enova Systems, Inc. (NYSE Amex:ENA) ENV ENVS, a leading developer of proprietary hybrid electric and all-electric drive systems and drive system components for the emerging green commercial vehicle market, has been invited to participate at today's US Air Force Industry Event at Los Angeles Air Force Base. Enova will display, along with partner Daimler Freightliner Custom Chassis (“Freightliner”), its 120kW all-electric drive system technology integrated with a Freightliner MT-45 walk-in van chassis.
Propell Corporation PROP
Propell's ‘Instant Ecommerce' Helps Unique New York City Public School Launch
‘PropellShops' System Lets Schools Nationwide Streamline Costs, Raise Funds
SAN ANSELMO, Calif., Aug. 25, 2011 /PRNewswire/ — New York City's new Collaborative Arts Middle School had a challenge this year, the school's first — and Propell Corporation PROP had a unique solution. The challenge was how to create and deliver a brand new uniform to a brand new student body, without requiring cash outlay by the school, or staff time.
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IMPORTANT DISCLAIMER – PLEASE READ THOROUGHLY
SmallCapVoice (SCV) is an electronic publication. Information sources for our profiles include, but are not limited to, online research, member suggestions, magazines, newspapers, analyst suggestions, information provided by the profiled company, press releases and similar sources. This communication is not an offer to sell or a recommendation that you buy or sell any security. SCV holds no securities licenses and is not qualified to provide investment advice. We are compensated for these advertisements by the profiled companies. You should not use this newsletter as the sole basis for any investment decision. While all investments involve risk, microcap stocks are among the most risky. Many microcap companies have no proven track record. You should only invest in microcap companies if you can afford to lose your entire investment. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. These profiles are paid advertisements. Although we have a reasonable belief that the information in each profile is accurate, we cannot guarantee that the information is accurate. It is important for you to verify all information by your own independent research. Link to full disclosure about compensation paid to SmallCapVoice.com, Inc. by companies featured on our website or in our e-mail communications.
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