Covington Investment Advisors, Inc. Blog

News, Tips, Commentary, etc.

The Opioid Epidemic

  I traveled to Washington D.C. yesterday to meet with Congressman Tim Murphy.  I asked him to consider applying for a Drug Enforcement Agency (DEA) office to be located in Westmoreland County and to also apply for a HIGH INTENSITY DRUG TRAFFIC AREA (HIDTA) program area designation from the Justice Department for the County.  Additionally, I asked Congressman Murphy’s office to help establish and facilitate collaboration among the U.S. Attorney’s office and his regional programs with that of the Westmoreland County government officials.   Last year in Westmoreland County we had 171 overdose deaths related to the opioid epidemic.  Fifteen years ago we only had 22 overdose deaths.  The opioid overdose death rate is growing on average at 48% per year and along with that comes continued growth in violent crimes in the county.         A HIDITA designation would bring federal funding to our area which I believe could...
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Schwab discounts yet again!

 Just a month after Charles Schwab & Co., Inc. announced they were reducing trading commissions, they have delivered more good news! Schwab anticipated that their competitors would likely respond to their significant commission decreases and they were right. Now, Schwab is adjusting their pricing again to remain competitive and make sure that trading commissions will never become a barrier to choosing them as a Custodian. Starting on March 3, 2017, Schwab reduced their standard online equity and ETF trade commissions further, from $6.95 to $4.951 per trade.  Schwab’s cost of investing will continue to remain among the lowest in the industry. 1Restrictions apply.  
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Patrick Wallace meets Jim Fowler of Mutual of Omaha's Wild Kingdom

         I had a most enjoyable evening last night attending a private dinner with Jim Fowler, co-host and host of the popular television series Mutual of Omaha’s Wild Kingdom. I grew up watching Wild Kingdom and learned to appreciate the natural world all the more because of Mr. Fowler’s educational approach and his cavalier attitude. Fowler is a renowned naturalist and professional zoologist. His mission as a naturalist includes educating the public about wildlife species throughout the world and preserving the environments in which the animals live. He continues to emphasize the benefits of spending time in the great outdoors. Photo from:    After Marlin Perkins saw Fowler’s appearance on NBC’s Today Show in 1961, he invited him to co-host the pilot for Mutual of Omaha’s Wild Kingdom. The show premiered on January 6, 1963 and engaged millions of viewers as Perkins and Fowler took them to...
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"Discount Chuck" is at it again

Charles (“Chuck”) Schwab started the Charles Schwab Corporation in 1971 as a traditional brokerage company and in 1974 became a pioneer in the discount brokerage business. In 1975, after a Securities and Exchange Commission mandate deregulated trading commissions, Chuck established a series of radically different policies, including cutting the charges to his customers in half compared to his competitors. He was known for offering a combination of low prices with fast, efficient order executions and soon became the nation’s largest discount broker. Today, Charles Schwab Corporation is the nation’s largest publicly traded investment services firm with around $2.83 trillion in client assets. Schwab lowers the cost of investing Bernie Clark, EVP and Head of Charles Schwab Advisor Services, announced that in an effort to put advisors and their clients first, Schwab is now lowering the cost of investing. Schwab made this change to not only help advisors better serve their clients...
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A Cup of Christmas Caution

 With the memory of the recent Distributed Denial of Service (DDOS) attack on a part of the internet that redirected traffic fresh in my mind, I was taken aback when I read an article stating that over eighty different Sony products that connect to the internet can easily be hacked. And then I read another article about a new botnet attacking the West Coast using the Internet of Things (IoT).  This Internet of Things has many useful, geeky and otherwise, nifty-neato things.  We have thermostats, security cameras, appliances and home entertainment gadgetry that can be remotely accessed by our smartphones and other carry along devices.  Therein lies the double edged sword.  The Mirai botnet used to attack these connected devices has caused some of the largest DDOS attacks this year.  It did not need to infect a PC as we think of computers but instead used the small computers in internet...
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Covington Investment Advisors, Inc.
301 E. Main Street
Ligonier, PA 15658
Phone: 724-238-0151
Fax: 724-238-0148