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Hays Free Press
Kyle, Texas
February 17, 2016     Hays Free Press
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February 17, 2016

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+ February 17, 2016 Page 1D # HOMES # HOMES MEDIAN CITY SOLD ACTIVE COST Buda 63 208 $245,000 Kyle 70 173 $195,263 San Marcos 31 125 $236,018 Dripping 27 101 $386,000 prings AVG DAYS ON MARKET 51 40 51 75 Wimberley 10 90 $239,500 61 , , Kyle wrecking company speaks out against tow regulations BY SAMANTHA SMITH Changes to a Kyle city ordi- nance last March on regulat- ing wrecker services has led the owner of a local company to speak out in protest. Norma Cisneros, who is the owner of Pete's Towing Com- pany in Kyle, says the changes, approved by the Kyle City Council in March 2015, have been difficult for her business. "The city manager and city (council) have failed us as citizens they do not care [sic]," Cisneros said. It's been almost a year since the city of Kyle passed an up- dated city ordinance regulat- ing wrecker services. The updated ordinance, approved in March 2015, was deliberated for two years be- fore the council approved it. The update requires all wrecker services interested in participating in the Kyle Police Department's wrecker rota- tion to comply with certain standards. Companies must submit an annual application with a fee of $250 to the police department to be consid- ered for rotation. They must also submit their vehicles to police inspection, adhere to the current fee guidelines set by the ordinance, and have a physical vehicle storage facil- ity within five or ten miles of city limits. Kyle Police Chief Jeff Barnett said the benefits of the new ordinance include regulating a pricing scale for the public, as well as the efficiency of cleanup of ac- cident scenes. Barnett said complaints in the past from citizens stemmed from inad- equate scene cleanup. Additional regulations include accurate contact in- formation clearly displayed on each vehicle in rotation. "I think we are getting a A tow truck removes a damaged vehicle in Kyle. Last March, the city added some business owners say are damaging their profit stream. PHOTO BY MOSES LEOS III regulations for wrecker services that the explosion of"outside busi- said the wrecker business is "1 know we are nesses now included in the a "competmve" " business" all growing, but I rotation, across Texas." "I know we are growing, "Everyone certainly wants really don't t hi n k but I really don't think we to increase their share of the need more than three police business and many of them we need more wrecker rotations in the city of have their own ideas on how than three police Kyle," Cisneros said. to do that," Barnett said. Cisneros claims that the Chief Barnett also said wrecker rotations reduction in rotation calls, in other companies argue the in the city of Kyle." addition to the fees that the new ordinance now allows company already pays to the them to be Kyle businesses. state, has made it almost im- "Because our ordinance -Norma Cisneros, owner ofpossible to keep the business now requires all regular Pete's Towing Company going, wrecker companies to have "We have to pay our billsa physical presence in the good quality product from the just like everybody else so by city limits of Kyle, they now responding companies," says them letting these other com- consider themselves Kyle Barnett. panies come in and take our businesses too and don't want But one local business business, it's putting me out of existing Kyle businesses trying claims the changes have nega- business," Cisneros say that they are not local tively impacted its future in While city ordinances canso they should not be on the the city of Kyle. be revised in response to citi- wrecker rotation," Barnett Cisneros held concerns ofzen concerns, Chief Barnett said. J Leif Johnson's Truck City Ford donated $10,000 to the Buda Area Chamber of Commerce (BACC) corporate partner program. This investment is the largest single member contribution in the 14-year history of the BACC. Fred Trudeau, General Manager of the Leif Johnson Family of Dealerships, presented the check to Brian LaBorde, Chairman of the Board and BACC board members at the chamber's monthly luncheon on Feb. 10. COURTESY PHOTO you res the m Financial Focus by Janet Ross As an investor, you may be g~g familiarity with the erm market correction." But what does it mean? And, more importantly, what does it mean to you? A correction occurs when a key index, such as the S&P 500, declines at least 10% from its previous high. A correction, by definition, is short-term in nature and has historically hap- pened fairly regularly- about once a year. However, over the past several years, we've expe- rienced fewer corrections, so when we have one now, it seems particularly jarring to investors. How should you respond to a market correction? The answer may depend, to some extent, on your stage of life. IF YOU'RE STILL WORKING... If you are in the early or middle parts of your working life, you might not have to concem yourself much about a market correction because you have decades to overcome a short- term downturn. Instead of selling stocks, and stock-based invest- ments, to supposedly "cut your losses," you may find that now is a good time to buy more shares of quality companies, when their price is down. Also, you may want to use the opporttmity of a correction to become aware of the need to periodically review and rebal- ance your portfolio. Stocks, and investments containing stocks, often perform well before a cor- rection. If their price has risen greatly, they may account for a greater percentage of the total value of your portfolio- so much so, in fact, that you might become "overweighted" in stocks, rela- tive to your goals, risk tolerance and time horizon. That's why ifs important for you to proactively rebalance your portfolio - or, dur- ing a correction, the market may do it for you. To cite one aspect of rebalancin~ ifyour portfolio ever does become too "stock-heav~" you may need to add some bonds or other fixed-rate vehicles. Not only can these investments help keep your portfolio in balance, but they also may hold up better during a correction. IF YOU'RE RETIRED... After you retire, you may need to take money from your invest- ment accounts - that is, sell some investments - to help pay for your cost of living. Ideally, however, you don't want to sell stocks, or stock- based vehicles, during a correc- tion- because when you do, you may be "selling low." (Remember the most common rule of invest- ing: Buy low and sell high. It's not always easy to follow, but it's still i pretty good advice.) So, to avoid being forced into selling, you need to be pre- pared. During your retirement years, tryto keep at least a years worth of cash instruments on hand as well as short-term fixed income investments. By hav- ing this money to draw on, you may be able to leave your stocks ! alone and give them a chance to recover, post-correction. And it's important to maintain a reason- able percentage of stocks, and stock-based vehicles, in your portfolio, even during retirement - because these investments may provide the growth necessary to help keep you ahead of inflation. Consequently, as a retiree, you should have a balance of stocks and stock-based vehicles, along with fixed-income vehicles, such as bonds, certificates of deposit, government securities and so on. Being prepared can help you get through a correction- no mat- ter where you are on life's journey, This article was written by Edward]ones for use by) our local Edward Jones FinanciaI Advisor. i