Senate Republicans Considering Back-Door Debt Ceiling Increase
Posted on July 11th, 2011
Update: Senate Minority Leader Mitch McConnell (R-KY) proposed his “contingency” plan for raising the debt ceiling Tuesday afternoon.
Saying the “Senate will absolutely not be a party to a default,” McConnell described forcing Obama to formally request a debt ceiling increase, for Congress to consider with a “motion to disapprove.”
Only one-third-plus-one votes in the both houses would be needed to raise the debt limit under the plan.
McConnell said spending cuts would not necessarily be a part of the deal, which would raise the debt ceiling by $2.5 trillion in three tranches before the 2012 election.
Senate Majority Leader Harry Reid (D-NV) said he would consider the proposal, but would prefer a straightforward deal.
Original: Senate Republicans are considering a roundabout plan to increase the debt limit that would prevent default, but shine the spotlight on Democrats before the 2012 elections.
Congress would vote to increase the debt limit by $2.5 trillion in three installments under the proposal, according to an internal memo leaked to POLITICO today. Pr
Tags: Ceiling, Debt Ceiling
No Comments »
Economic Injury Disaster Loans (EIDLs) for Small Businesses Affected by Fire Breakout
Posted on July 10th, 2011
Low interest loans are available for small businesses that suffered economic impact due to the recent wild fires across Los Alamos. Governor Susana Martinez is encouraging businesses for completion of “Estimated Disaster Economic Injury Worksheet for Businesses”. These laons have been made available to them through county emergency managers or on the website of New Mexico Department of Homeland Security and Emergency Management.
The Small Business Administration is extending its help to small businesses that were impacted as a result of the fires. Small businesses that were forced to close down can receive support in the form of low interest loans that will help communities recover from their state of disaster more quickly.
Economic injury disaster declaration has resulted from Governor Martinez’s certification that five small businesses have suffered significant losses as a result of disaster and are in need of great financial assistance that is not currently available in the region. As a
Tags: Fire, Small Businesses
No Comments »
10 Business Execs Suspected of Murder
Posted on July 8th, 2011
People say business is a cutthroat world, but some executives have been known to take this a bit too literally. Capitalism is a tough game, and to be a truly successful executive, you have to have a ruthless personality, often straddling the dividing line between genius and madness. What’s more, CEOs and high-level businessmen have a great deal of power, of course, and everyone knows what they say about what too much power will do to a person. Here, we look at some of the top businessmen who have taken the slash and burn approach to their personal — as well as their professional — lives…
The German conglomerate ThyssenKrupp already had an image problem after being found guilty of price fixing in 2006, but negligently allowing a fatal inferno to break out at the company’s Turin plant in December 2007 was really the icing on the cake. The unders
Tags: 10 Business, Business
No Comments »
Companies in U.S. add 157,000 workers to payrolls, ADP says
Posted on July 8th, 2011
WASHINGTON – Companies in the U.S. added more workers than forecast in June, signaling job growth may pick up in the second half, a private report based on payrolls showed Thursday.
The 157,000 increase followed a revised 36,000 gain the prior month, according to data from ADP Employer Services. The median forecast of economists surveyed by Bloomberg News called for an advance of 70,000.
Bigger job gains may help cut an unemployment rate hovering above 9 percent and help lift consumer spending, which accounts for about 70 percent of the economy. Businesses added 125,000 jobs in June, more than in May and less than the monthly average of the first quarter, economists project a Labor Department report will show Friday.
“Employment growth appears to be strong enough for the unemployment rate to trend lower, albeit slowly,” James O’Sullivan, chief economist at MF Global Inc. in Ne
Tags: Payrolls, Payrolls Adp
No Comments »
Association fine is out of bounds
Posted on July 8th, 2011
I recently received a letter from the HOA, accusing me of violating the community covenants because my daughter’s vehicle is parked in my driveway. According to the letter, vehicles can only be parked in an individual driveway if all bays in a residence’s garage are being used to park vehicles. Garages can be used for other purposes, such as for storage, but only if no vehicles are parked outside in the driveway. The letter threatens me with a fine of $200 per day for every day I am not in compliance.
I do not want to willfully break rules, and I do not want to incur costly fines. On the other hand, I don’t want to get rid of my much-needed storage space or my refrigerator, especially when this is just a short-term situation. Finally, I am irked that the association acknowledges that, under certain circumstances, it is OK to park vehicles in driveways. Many of my neighbors are doing just that.
J.P. Morgan settles bid rigging case
Posted on July 7th, 2011
WASHINGTON, July 7 (UPI) — Finance giant J.P. Morgan Securities has agreed to pay $228 million to settle charges of rigged investment bidding, U.S. regulators said.
The company did not admit to any wrongdoing, but parent company JPMorgan Chase said in a statement, “The investigations focused on a small desk that was discontinued and on certain employees who are no longer with the firm,” The Washington Post reported Thursday.
“These employees concealed their conduct from management,” the statement said.
The Securities and Exchange Commission had charged the company with rigging bids for municipal investments with funds originating with bond issuance.
The shady deals began in 1997 and continued for eight years.
Tags: Bid, Settles Bid
No Comments »
Why Going Back to School can Help You Run a Business
Posted on July 6th, 2011
Going back to school is a tough decision to make. You must consider how it will affect your life as well as the cost of tuition and other factors that may change. If you’re looking to get ahead and run your own business, going back to school is going to help you do that. Here are several ways that returning to school will help you run a business.
Going back to school is going to be a great opportunity to learn new things that will help you in every area of business. You will be able to learn about economics and business through the classes you choose to take. You can join classes such as a mergers and acquisitions class, which will expand your knowledge of large businesses, or you can take simple business classes to learn about small businesses. Taking classes to learn about every type of business is recommended.
Not only will you be able to learn about the business side of it all, but you will also be able to take classes to expand your knowledge on the type of business you are going into. F
Tags: Going Back, School
No Comments »