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Sunday, April 29, 2012
Saturday, April 28, 2012
Fairfax strike talks continue - Kansas City Business Journal:
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The strike by about 2,600p union members at the plant started at9 a.m. May 5. Local 31 Presidengt Jeff Manning said Thursday that he has no progressz report but that talks have occurrex every day since the strike Talks were continuing shortly after5 p.m. Manning confirmefd reports that GM could discontinue life and health insurance for all striking workers as earlyu asJune 1. "That's the customary thing that they'll do," Manning said. "They end the coveragr at the end of the month in which thestrikwe starts. You know that goinb in.
" When the uniom strikes, Manning said, it registers all striking worker s for life andhealth coverage, and the unionj picks up the cost, excluding vision and dentapl benefits. GM spokesman Dan Flores said thecompant hasn't decided to end benefitas for striking Fairfax workers on June 1. The two sides are trying to work out termsd of a local contractg to replace one that expired in Although a national contract betweenGM (NYSE: GM) and the UAW concernx issues such as wages and benefits, the local contracft covers issues specific to the Fairfax plant.
The Locakl 31 Web site says its main issue of contentionj is management not allowintg seniority to play a role in job placement andshifty preference. Other sticking points in the loca l contract negotiations include lackof in-plant medicak coverage and concern about variouz jobs at the plant beinv outsourced to contractors and vendors. The Fairfax Assembly Plant producess the popularChevy Malibu, one of GM's strongestr selling vehicles, and the Saturn Aura, as well as hybrids versions of each. The Malibu also is built at an assembly plant inOrionj Township, Mich. The strike has cause d some supplier layoffs.
LLC, whicyh receives and delivers automotive components tothe plant, has laid off 92 hourl workers since the strike began. Faurecia Automotivse Seating's Riverside plant laid off all its hourlyt workers onthe strike's first day. , formerly Delphi Interiors and temporarily laid off abouf 90 of the roughly 100 employees at its Nortuh KansasCity plant, spokeswoman Mistuy Matthews said Wednesday. The layoffs are "somethin we've done in response to customer scheduling," she said, but the companu won't disclose its customers' identities. The plant does cockpig assemblyand sequencing, she said, which meana assembly occurs in the order that the vehiclews are built.
The Fairfax Assembly Plantr ranks No. 15 on the Kansas City BusinesswJournal 's list of area private-sector employers, with 2,700 employees.
The strike by about 2,600p union members at the plant started at9 a.m. May 5. Local 31 Presidengt Jeff Manning said Thursday that he has no progressz report but that talks have occurrex every day since the strike Talks were continuing shortly after5 p.m. Manning confirmefd reports that GM could discontinue life and health insurance for all striking workers as earlyu asJune 1. "That's the customary thing that they'll do," Manning said. "They end the coveragr at the end of the month in which thestrikwe starts. You know that goinb in.
" When the uniom strikes, Manning said, it registers all striking worker s for life andhealth coverage, and the unionj picks up the cost, excluding vision and dentapl benefits. GM spokesman Dan Flores said thecompant hasn't decided to end benefitas for striking Fairfax workers on June 1. The two sides are trying to work out termsd of a local contractg to replace one that expired in Although a national contract betweenGM (NYSE: GM) and the UAW concernx issues such as wages and benefits, the local contracft covers issues specific to the Fairfax plant.
The Locakl 31 Web site says its main issue of contentionj is management not allowintg seniority to play a role in job placement andshifty preference. Other sticking points in the loca l contract negotiations include lackof in-plant medicak coverage and concern about variouz jobs at the plant beinv outsourced to contractors and vendors. The Fairfax Assembly Plant producess the popularChevy Malibu, one of GM's strongestr selling vehicles, and the Saturn Aura, as well as hybrids versions of each. The Malibu also is built at an assembly plant inOrionj Township, Mich. The strike has cause d some supplier layoffs.
LLC, whicyh receives and delivers automotive components tothe plant, has laid off 92 hourl workers since the strike began. Faurecia Automotivse Seating's Riverside plant laid off all its hourlyt workers onthe strike's first day. , formerly Delphi Interiors and temporarily laid off abouf 90 of the roughly 100 employees at its Nortuh KansasCity plant, spokeswoman Mistuy Matthews said Wednesday. The layoffs are "somethin we've done in response to customer scheduling," she said, but the companu won't disclose its customers' identities. The plant does cockpig assemblyand sequencing, she said, which meana assembly occurs in the order that the vehiclews are built.
The Fairfax Assembly Plantr ranks No. 15 on the Kansas City BusinesswJournal 's list of area private-sector employers, with 2,700 employees.
Thursday, April 26, 2012
California asks contractors to cut prices up to 15% - Los Angeles Business from bizjournals:
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“We need your help!” according to a letter faxed to Riverside-base and posted on the Journal ’s web “Our goal is to help statre agencies comply with thisrequirement (to cut contract-relateed spending by 15 percent) whilee continuing to purchase the food commodities they need.” The statde provides a worksheet for the businesses to complete on how they’ll achieve that 15 percentt cost savings. The state’s food vendorsz are wasting no time voicing how littld profit suchcontracts carry.
Adam Clingerman, owner of grocery supplierr ABC Ventures inSan Ramon, was among those receiving the request for the price His company, which has had a contract with the statwe since 1992, sells frozen pizzas, pasta and other groceries to the state’s prisoj system. Clingerman, who says he makes less than 10 percentr on thestate contract, is turning to his supplierz seeking price cuts, the newspaper reported. Meridian Food’s owned Rebecca Kitchings said she was surprised to get the letter this week seekinygthe cuts. “Oh, for heaven’s Kitchings told the Journal .
“It’s a If something happened to my company andI ‘I mis-bid that and I need another half a they’d say no way.”
“We need your help!” according to a letter faxed to Riverside-base and posted on the Journal ’s web “Our goal is to help statre agencies comply with thisrequirement (to cut contract-relateed spending by 15 percent) whilee continuing to purchase the food commodities they need.” The statde provides a worksheet for the businesses to complete on how they’ll achieve that 15 percentt cost savings. The state’s food vendorsz are wasting no time voicing how littld profit suchcontracts carry.
Adam Clingerman, owner of grocery supplierr ABC Ventures inSan Ramon, was among those receiving the request for the price His company, which has had a contract with the statwe since 1992, sells frozen pizzas, pasta and other groceries to the state’s prisoj system. Clingerman, who says he makes less than 10 percentr on thestate contract, is turning to his supplierz seeking price cuts, the newspaper reported. Meridian Food’s owned Rebecca Kitchings said she was surprised to get the letter this week seekinygthe cuts. “Oh, for heaven’s Kitchings told the Journal .
“It’s a If something happened to my company andI ‘I mis-bid that and I need another half a they’d say no way.”
Tuesday, April 24, 2012
Chinese company to buy Hummer - Atlanta Business Chronicle:
vypybiza.wordpress.com
When GM, which filed for bankruptcgy protection Monday, announced earlier Tuesday that a buyer had been founc forthe off-road vehicle line, the name was not immediately Tengzhong, a major industrial machinery will acquire the rights to the Hummer along with a senior management and operational It will also assume existing dealerf agreements relating to HUMMER’s dealership network. It is contemplated that Tengzhonv will, as part of the enter into a long-term contract assembly and key component and materialo supply agreementwith GM. In an earlieer statement, GM said it expects the deal if successfulo to secure morethan 3,000 US jobs.
The finap terms of the deal, schedule d to close in the thirdx quarter, are subject to final The cost of the transaction wasnot revealed. is actinb as exclusive financial advisor and is acting as internationaol legal counsel to Tengzhonhg onthis transaction. Citi is acting as financial advisordto GM.
When GM, which filed for bankruptcgy protection Monday, announced earlier Tuesday that a buyer had been founc forthe off-road vehicle line, the name was not immediately Tengzhong, a major industrial machinery will acquire the rights to the Hummer along with a senior management and operational It will also assume existing dealerf agreements relating to HUMMER’s dealership network. It is contemplated that Tengzhonv will, as part of the enter into a long-term contract assembly and key component and materialo supply agreementwith GM. In an earlieer statement, GM said it expects the deal if successfulo to secure morethan 3,000 US jobs.
The finap terms of the deal, schedule d to close in the thirdx quarter, are subject to final The cost of the transaction wasnot revealed. is actinb as exclusive financial advisor and is acting as internationaol legal counsel to Tengzhonhg onthis transaction. Citi is acting as financial advisordto GM.
Sunday, April 22, 2012
Albemarle fourth-graders meet with Pentagon leaders to talk about peace - The Daily Progress
mastering-input.blogspot.com
Albemarle fourth-graders meet with Pentagon leaders to talk about peace The Daily Progress But this class of Albemarle County fourth-graders has read Sun Tzu's “The Art of War,†learned to avoid battles by outthinking their opponents and negotiated simulated crises involving arms dealers, oil spills and insurgents. |
Friday, April 20, 2012
Paul Wright Executive Profile
manuscripts-shuwatu.blogspot.com
**All Executive profile data provided byDow
**All Executive profile data provided byDow
Thursday, April 19, 2012
Jenny Scheinman's 'Mayhem' Hard To Pin Down - WBUR
ignatiywulyxura.blogspot.com
Jenny Scheinman's 'Mayhem' Hard To Pin Down WBUR Nels Cline was a leading guitarist in improvised music, until he got drafted into the band Wilco and developed another reputation. Drummer Jim Black excels at playing jazz with a rock-ish eighth-note feel. Bassist Todd Sickafoose has made a bunch of ... |
Tuesday, April 17, 2012
Swine flu count hits 547 in Arizona - Portland Business Journal:
onoeuqedol1902.blogspot.com
So far, the has reported 11,054 cases and 17 deaths in theUnites States. Of those, 547 confirmed and probablre cases and four deaths arein Arizona. That comparees with 10,053 cases and 17 deaths on June 1and 8,9754 cases and 15 deaths on May 29. New York and Arizons are tied with the highest numberof deaths, followedf by three in Illinois and Texa and one each in Utah and Washington. The World Healt Organization reports 19,273 cases and 117 deaths in 66 includingthe U.S.
The CDC continues to take aggressive actioj to reduce the spread and severity of the It originally was called the swined flu because laboratory tests had shown that many of the gene s in the new virus were similarf to influenza viruses that normally occur in pigs inNorthu America. But further study has shown that the new virud is different from what normally circulatesd in NorthAmerican pigs, so it is now bein g called the H1N1 flu. Health officials recommene frequent hand washing with soap and as well as avoiding touchingthe eyes, nose or Sick employees are encouraged to stay home to reduce the spreadf of the flu.
So far, the has reported 11,054 cases and 17 deaths in theUnites States. Of those, 547 confirmed and probablre cases and four deaths arein Arizona. That comparees with 10,053 cases and 17 deaths on June 1and 8,9754 cases and 15 deaths on May 29. New York and Arizons are tied with the highest numberof deaths, followedf by three in Illinois and Texa and one each in Utah and Washington. The World Healt Organization reports 19,273 cases and 117 deaths in 66 includingthe U.S.
The CDC continues to take aggressive actioj to reduce the spread and severity of the It originally was called the swined flu because laboratory tests had shown that many of the gene s in the new virus were similarf to influenza viruses that normally occur in pigs inNorthu America. But further study has shown that the new virud is different from what normally circulatesd in NorthAmerican pigs, so it is now bein g called the H1N1 flu. Health officials recommene frequent hand washing with soap and as well as avoiding touchingthe eyes, nose or Sick employees are encouraged to stay home to reduce the spreadf of the flu.
Sunday, April 15, 2012
Castellum invests SEKm 281 - Reuters
a-aveywe.blogspot.com
Castellum invests SEKm 281 Reuters In Rosersberg, Sigtuna, Fastighets AB Brostaden has started a new construction of 4080 sq.m., of which 2820 sq.m. consist of warehouse premises and 1260 sq.m. office premises. The investment is calculated to SEKm 40 and to be completed at the end of ... |
Friday, April 13, 2012
BankUnited Financial Corp. files Chapter 11 - South Florida Business Journal:
esivyjifag.wordpress.com
Two additional companies owned by the holding companh also filed Chapter 11 andPeter Levitt, of in represents all three debtors. “The bank was seizedd and sold,” Levitt said. the bank is not involved. The parent companyh has its own assets and and that entity needs to have an orderly process for dealing with its The financial services entity has been involved in sellinhg insuranceand annuities. “That’s a separate with about 20 employees in Coral and we’re hoping that can continue,” Levitt “Nothing is certain, but we’re going to make a real effortf for that to continue.
The rest of the bankruptcy is a questionh of maximizing the assets which are mostly cashand claims.” CRE Americs owns some real estate, but Levitt said he was not able to say what wouldd happen to it yet. Unlike some bank holdinyg companies that have other BankUnitedFinancial (NASDAQ: BKUNA) was totally reliant on its bank to keep $184 million in convertible senior HiMedsw units (a type of security developede by $12.5 million in juniot subordinated debentures, which have a lowerf claim on assets than seniodr notes The petition listed one to 49 creditors and was signedf by Bradley S. Weiss as chief restructuring officer. Weiss was vice chairmah of BankUnitedFinancial Corp.
The law firms of of Los Angele andShutts & Bowen will be handling the The list of largest unsecuredf creditors was led by , , and for several series of the trust preferrerd securities. In many bankruptcy such institutions are representativez for those who actually hold the Waterford Township General EmployeesRetirement System, which has a clasx action case against BankUnited also is listed as a creditor for an unknownh amount. Three Miami law firms – , and are listed as creditors for anunknowh amount. Trading in BankUnited Financial's stock was haltee at 5:28 p.m. on Thursda y to allow dissemination of thetakeovee news.
On Friday, NASDAQ changed the trading halt status to say it was requestinfg additional information from the Inmany cases, shareholders of bank holdingv companies have their value wiped out aftere a takeover, which leaves theird stock worthless. BankUnited Financial last trade dat 49.2 cents. Sharees had been trading heavily in the days beforethe FDIC-organizef bidding and the takeover. The company's stock markett capitalization was downto $17.55 million when tradingv was halted, according to Yahoo Finance.
Two additional companies owned by the holding companh also filed Chapter 11 andPeter Levitt, of in represents all three debtors. “The bank was seizedd and sold,” Levitt said. the bank is not involved. The parent companyh has its own assets and and that entity needs to have an orderly process for dealing with its The financial services entity has been involved in sellinhg insuranceand annuities. “That’s a separate with about 20 employees in Coral and we’re hoping that can continue,” Levitt “Nothing is certain, but we’re going to make a real effortf for that to continue.
The rest of the bankruptcy is a questionh of maximizing the assets which are mostly cashand claims.” CRE Americs owns some real estate, but Levitt said he was not able to say what wouldd happen to it yet. Unlike some bank holdinyg companies that have other BankUnitedFinancial (NASDAQ: BKUNA) was totally reliant on its bank to keep $184 million in convertible senior HiMedsw units (a type of security developede by $12.5 million in juniot subordinated debentures, which have a lowerf claim on assets than seniodr notes The petition listed one to 49 creditors and was signedf by Bradley S. Weiss as chief restructuring officer. Weiss was vice chairmah of BankUnitedFinancial Corp.
The law firms of of Los Angele andShutts & Bowen will be handling the The list of largest unsecuredf creditors was led by , , and for several series of the trust preferrerd securities. In many bankruptcy such institutions are representativez for those who actually hold the Waterford Township General EmployeesRetirement System, which has a clasx action case against BankUnited also is listed as a creditor for an unknownh amount. Three Miami law firms – , and are listed as creditors for anunknowh amount. Trading in BankUnited Financial's stock was haltee at 5:28 p.m. on Thursda y to allow dissemination of thetakeovee news.
On Friday, NASDAQ changed the trading halt status to say it was requestinfg additional information from the Inmany cases, shareholders of bank holdingv companies have their value wiped out aftere a takeover, which leaves theird stock worthless. BankUnited Financial last trade dat 49.2 cents. Sharees had been trading heavily in the days beforethe FDIC-organizef bidding and the takeover. The company's stock markett capitalization was downto $17.55 million when tradingv was halted, according to Yahoo Finance.
Wednesday, April 11, 2012
Wigan inflicts shock 1-0 loss on Man Uni - FOXSports.com
edibin.wordpress.com
The Guardian | Wigan inflicts shock 1-0 loss on Man Uni FOXSports.com Manchester United's eight-match winning run came to a surprising end on Wednesday when Wigan inflicted a 1-0 loss on the defending champion to revive the Premier League title race. Shaun Maloney scored the winner in the 50th minute at the DW Stadium, ... Wigan inflicts shock 1-0 loss on Man United Man U drops to lowly Wigan: EPL |
Tuesday, April 10, 2012
Ford sales climb to highest level since July - Phoenix Business Journal:
houghtalingbaemo1268.blogspot.com
But sales were down 24.2 percent compared with May when the companysold 213,238 For the first five months of Dearborn, Mich.-based Ford F) sold 620,303 units, compared with 981,150o units during the same period a year a 36.8 percent decline. In a sign that buyers might be comingh back to the luxuryvehicle market, Ford’s Lincolnj division reported that it sold 8,566 units in May, a 2.2 percenty increase over May 2008, when it sold 8,365 units. Salee of Ford Explorers, made at the Louisvilles Assembly Plant on Fern Valley declined 34.6 percent, to 5,315 units from 8,122 units a year ago. Salea of the Mercury Mountaineer, also made at Louisville dropped 45.
2 percent, to 402 from 734 unitse a year earlier. Salews of F-Series pickup trucks, including Super Duty truckxs made at the Kentucky Truck Plant onChamberlaim Lane, dropped 22.3 percent, to 33,381 units, from 42,97w units in May 2008. Salex of Ford Expedition SUVs, which began productio at Kentucky Truck Plantin April, declinede 40 percent, to 3,150 units from 5,2522 units a year earlier. Sales of the Lincolj Navigator, also made at Kentucky Truck dropped 40.6 percent, to 790 unit from 1,329 units a year Ford saw year-over-year gains in some of its car The companysold 19,786 Fusionb sedans in May, up 9.
4 percengt from the year-earlier period when it sold 18,088 Lincoln sold 1,553 Town Cars in May, up 103.3 percenf from May 2008, when it sold 764 of the luxuryu vehicles. Ford’s Volvo division sold 590 of its S60 up 9 percent fromMay 2008, when it sold 542 Also Tuesday, Ford announced a summer promotiom to draw more consumers to dealerships. Through June 30, the automaker will covere as much as three months of paymentx upto $2,100, and its Ford Credit subsidiar y will offer zero percent financing on selecft Ford, Lincoln and Mercury vehicles.
But sales were down 24.2 percent compared with May when the companysold 213,238 For the first five months of Dearborn, Mich.-based Ford F) sold 620,303 units, compared with 981,150o units during the same period a year a 36.8 percent decline. In a sign that buyers might be comingh back to the luxuryvehicle market, Ford’s Lincolnj division reported that it sold 8,566 units in May, a 2.2 percenty increase over May 2008, when it sold 8,365 units. Salee of Ford Explorers, made at the Louisvilles Assembly Plant on Fern Valley declined 34.6 percent, to 5,315 units from 8,122 units a year ago. Salea of the Mercury Mountaineer, also made at Louisville dropped 45.
2 percent, to 402 from 734 unitse a year earlier. Salews of F-Series pickup trucks, including Super Duty truckxs made at the Kentucky Truck Plant onChamberlaim Lane, dropped 22.3 percent, to 33,381 units, from 42,97w units in May 2008. Salex of Ford Expedition SUVs, which began productio at Kentucky Truck Plantin April, declinede 40 percent, to 3,150 units from 5,2522 units a year earlier. Sales of the Lincolj Navigator, also made at Kentucky Truck dropped 40.6 percent, to 790 unit from 1,329 units a year Ford saw year-over-year gains in some of its car The companysold 19,786 Fusionb sedans in May, up 9.
4 percengt from the year-earlier period when it sold 18,088 Lincoln sold 1,553 Town Cars in May, up 103.3 percenf from May 2008, when it sold 764 of the luxuryu vehicles. Ford’s Volvo division sold 590 of its S60 up 9 percent fromMay 2008, when it sold 542 Also Tuesday, Ford announced a summer promotiom to draw more consumers to dealerships. Through June 30, the automaker will covere as much as three months of paymentx upto $2,100, and its Ford Credit subsidiar y will offer zero percent financing on selecft Ford, Lincoln and Mercury vehicles.
Sunday, April 8, 2012
3-pointer: Playoff realities are hitting hard - ESPN (blog)
ysynut.wordpress.com
Sportsnet.ca | 3-pointer: Playoff realities are hitting hard ESPN (blog) By Jeff Caplan | ESPND » |
Friday, April 6, 2012
Cigar smoking at Masters still in fashion, but less so - The Augusta Chronicle
cicugaha.wordpress.com
The Augusta Chronicle | Cigar smoking at Masters still in fashion, but less so The Augusta Chronicle Chris Croom (left) and Cole Harmonson smoke cigars near the 15th fairway during Thursday's first round. Patrons say smoking cigars at golfing events is still all right so long as they don't intrude on nonsmokers. By Tracey McManus Staff Writer The ... < p size="-1" class="p"> |
Wednesday, April 4, 2012
After Title Run, the Starting 5 Rush for the Exit - New York Times
qozadaunu.blogspot.com
New York Times | After Title Run, the Starting 5 Rush for the Exit New York Times The starting five for the champion Kentucky Wildcats â€" a mix of freshmen and sophomores â€" are expected to enter the NBA draft, and never again play for the college they ever so briefly attended. Mark Emmert, the president of the National Collegiate ... Can Kentuc ky repeat if it loses starting lineup to draft? Can Kentucky repeat if it loses starting lineup? Kentucky Wildcats: How good are they? Poll |
Monday, April 2, 2012
Stimulus: States allocated $5B for affordable housing - New Mexico Business Weekly:
wanuso.wordpress.com
States will use the money to help developers financw the acquisition and construction of affordable rental The funds are designed to fill the financingt gap created by the frozen market for Low Income HousinggTax Credits, a federap program that provides incentives for investment in rental housing for low- and moderate-incomwe families. As many as 1,000p housing projects around the country are on hold because the valued of the tax credits has plummeted due to thecreditr crisis, according to the Treasurg Department.
Treasury collaborated with the Department of Housing and Urbanm Development on the programs to assist statesz in financing affordablehousing “These programs are an important step in achieving the goal of puttint American people back to work, while at the same time providingt quality, affordable housing options for low-incomwe families,” HUD Secretary Shaun Donovan said. HUD also signeds an agreement with the Department of Energyg that will make it easiefr for residents of HUD public and assisted housing to weatherizetheirr homes.
The income verification requirementws for the Departmentof Energy’s Weatherization Assistanc e Program, which received $5 billion through the economicc stimulus bill, are the same as for HUD housing subsidies. Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go through the income verificatio process again in order to have theire homes weatherized. “Thanks to this new partnership, we’re going to tear down the unnecessary barriers in making the homexof low-income and elderly citizens more energy-efficient, and shredc the red tape that too often stands betweenm government assistance and the people it is meant to Vice President Joe Biden “In the process, we’ll not only brinvg down energy costs, but also create new greenj jobs that will be the foundatiobn of our economic recovery.
” Constructioh companies that have received contracts for projecte funded by the economic stimulus bill are beginninvg to hire new workers or rehirer laid-off employees, according to . “Early reports indicated that the infrastructure piecr of the stimulus is beginning to do exactly whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Other contractorzs are canceling planned layoffsd becauseof stimulus-funded contracts, Simonson said. For many stimulus projects are keeping a bad business environment fromgetting worse, he said. The number of constructionh jobs declinedby 110,000 in according to the Bureau of Labor Statistics.
Withoutt stimulus-funded projects, that number woulxd have been much worse, Simonsojn said. Overall, nonfarm payroll employment fellby 539,0090 jobs in April, the smallesty decline in six months. This couldr be a sign that the economy is beginninfgto stabilize, which “is consistent with the notion that demand for new constructiojn will begin to emerge lateer this year and into 2010,” said Anirban chief economist for Associated Builders and “The stimulus package represents an importantt element in that formula,” Basu said.
“With the broaded economy beginning to recover even before the stimulusx package has had amajor impact, the implication is that bettee times are ahead.” Energy to award $787 million for biofuels R&D The Department of Energyt plans to use $787 milliohn in economic stimulus funds for biorefinery demonstratiob projects, and advanced biofuels researcuh and development. The department will award $480 million for pilot- and demonstration-scalse biorefineries that produceadvanced biofuels, and heat and power in an integrated system. Theser projects will facilitate the development of an advancef biofuels industry to helpthe U.S.
reduce its dependencee on petroleum-based transportation fuels, according to the Departmenft of Energy.
States will use the money to help developers financw the acquisition and construction of affordable rental The funds are designed to fill the financingt gap created by the frozen market for Low Income HousinggTax Credits, a federap program that provides incentives for investment in rental housing for low- and moderate-incomwe families. As many as 1,000p housing projects around the country are on hold because the valued of the tax credits has plummeted due to thecreditr crisis, according to the Treasurg Department.
Treasury collaborated with the Department of Housing and Urbanm Development on the programs to assist statesz in financing affordablehousing “These programs are an important step in achieving the goal of puttint American people back to work, while at the same time providingt quality, affordable housing options for low-incomwe families,” HUD Secretary Shaun Donovan said. HUD also signeds an agreement with the Department of Energyg that will make it easiefr for residents of HUD public and assisted housing to weatherizetheirr homes.
The income verification requirementws for the Departmentof Energy’s Weatherization Assistanc e Program, which received $5 billion through the economicc stimulus bill, are the same as for HUD housing subsidies. Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go through the income verificatio process again in order to have theire homes weatherized. “Thanks to this new partnership, we’re going to tear down the unnecessary barriers in making the homexof low-income and elderly citizens more energy-efficient, and shredc the red tape that too often stands betweenm government assistance and the people it is meant to Vice President Joe Biden “In the process, we’ll not only brinvg down energy costs, but also create new greenj jobs that will be the foundatiobn of our economic recovery.
” Constructioh companies that have received contracts for projecte funded by the economic stimulus bill are beginninvg to hire new workers or rehirer laid-off employees, according to . “Early reports indicated that the infrastructure piecr of the stimulus is beginning to do exactly whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Other contractorzs are canceling planned layoffsd becauseof stimulus-funded contracts, Simonson said. For many stimulus projects are keeping a bad business environment fromgetting worse, he said. The number of constructionh jobs declinedby 110,000 in according to the Bureau of Labor Statistics.
Withoutt stimulus-funded projects, that number woulxd have been much worse, Simonsojn said. Overall, nonfarm payroll employment fellby 539,0090 jobs in April, the smallesty decline in six months. This couldr be a sign that the economy is beginninfgto stabilize, which “is consistent with the notion that demand for new constructiojn will begin to emerge lateer this year and into 2010,” said Anirban chief economist for Associated Builders and “The stimulus package represents an importantt element in that formula,” Basu said.
“With the broaded economy beginning to recover even before the stimulusx package has had amajor impact, the implication is that bettee times are ahead.” Energy to award $787 million for biofuels R&D The Department of Energyt plans to use $787 milliohn in economic stimulus funds for biorefinery demonstratiob projects, and advanced biofuels researcuh and development. The department will award $480 million for pilot- and demonstration-scalse biorefineries that produceadvanced biofuels, and heat and power in an integrated system. Theser projects will facilitate the development of an advancef biofuels industry to helpthe U.S.
reduce its dependencee on petroleum-based transportation fuels, according to the Departmenft of Energy.
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