25 Jul 2014

Old HoJo Site Moving Closer to Re-Development

By T. Brecht

Downtown's eyesore days are numbered: The former Howard Johnson will be demolished.

A wrecking ball will soon swing into the dilapidated walls of one of downtown Davenport's worst eyesores, making way for what the Downtown Davenport Partnership anticipates will go from long-time nuisance to "iconic structure".

Several developers are already anxious to pitch their ideas for the soon-to-open prime real estate at downtown's eastern gateway, said Kyle Carter, Executive Director of the Downtown Davenport Partnership. The partnership, which used its resources to purchase the property for $210,000 and turn it over to local non-profit Demolition Davenport, is putting the final touches on a Request for Proposals geared to find the best use possible for the high-visibility parcel.

The empty Howard Johnson hotel on the site has sat empty since 2009, earning it the dubious distinction of being one of downtown's most notorious blighted properties.

While multiple local developers have already expressed early interest, Carter said the RFPs will be distributed nationally, hopefully giving the Partnership a wide range of attractive options when picking a developer.

Downtown Partnership and City staff have a hiearchy of uses they'd like to see.  Number one is corporate office or Class A office space. The second choice is a mixed-use development with some Class A office combined with residential or commercial uses. The third and fourth choices are a business class hotel and market rate residential - either rental or owner occupied.

Carter said the push for office development is driven by a few factors. For one, most of the downtown building stock is older, historic businesses which are often difficult and expensive to convert into modern office use. Secondly, while the massive increase in new downtown market rate apartments has been good for business, office space drives up demand for daytime retail and commercial uses even more.

"For one, much of the downtown office space is historic with narrow column spacing, making it functionally obsolete for certain styles of corporate office design," Carter said. "New construction offers developers  a blank slate;  we have a real opportunity to add more variety to our commercial offerings downtown to suit users that are seeking more open space."

The key is finding the righta balance of uses downtown, Carter added.

"We'll never be able to compete completely with greenfield office development because of cost. But we think we can find those companies that are the right fit; especially those that need young professionals who want to be in that urban environment."

Bruce Berger, Director of Community Planning & Economic Development in Davenport, said having the Partnership and a non-profit like demolition Davenport help assemble the property and prepare it is incredibly helpful. It takes out the fear of the unknown, especially unknown expenses, that can make developers uneasy and risk-averse, he said. Without spending any City of Davenport taxpayer money, the two entities have:

  • Completed environmental risk assessment reports
  • Solicited bids for demolition (the cost of which will borne by the developers)
  • Below-ground environmental and flood reports
  • Debris removal
  • Environmental mitigation (which will be underway this September)

The proposals that are received will be reviewed by the Downtown Davenport Partnership taskforce and ultimately voted upon by the Partnership's Board of Directors. The following criteria will be used to determine the best developer:

  • Experience, Qualifications and Expertise
  • Preferred Use Factors
  • Proposed Costs/Thoughtfulness of Bidg
  • Financial and Environmental Sustainability
  • Design Quality, Scale & Aesthetics (meets or exceeds City downtown design guidelines)
  • Thoroughness, and Responsiveness of Proposal

Carter expects the RFP to be issued this week with proposals due back Aug. 25. Interviews with finalists and the selection by the board would occur by the end of September.

25 Jul 2014

Iowa Announces Statewide Launch of Get Skills to Work Coalition

By Office of the Governor of the State of Iowa

The Institute hosts breakfast roundtable and job fair for veterans in manufacturing

(DAVENPORT) -  Today, Get Skills to Work, in partnership with The Manufacturing Institute, Home Base Iowa, the Alcoa Foundation and the U.S. Chamber of Commerce Foundation, will host Governor Terry Branstad and welcome Iowa as the third state to join the Get Skills to Work coalition. Get Skills to Work helps veterans get job-specific training or transition their military experience into rewarding careers in manufacturing.

"I am proud to support efforts such as Home Base Iowa, Get Skills to Work and Hiring Our Heroes. Each offers our veterans and transitioning service members every opportunity to successfully transition from military careers into the private sector," said Governor Terry Branstad. "These efforts are opportunities to honor those who served and to strengthen our economy with a workforce that exemplifies hard work, teamwork, and discipline."

The event begins with a breakfast roundtable for employers with local manufacturers and partners, including the Iowa Association of Business and Industry, Alcoa Davenport Works, Eastern Iowa Community Colleges, and Hiring our Heroes.

Following the roundtable, Governor Branstad will announce Iowa as the third state to join the Get Skills to Work coalition. By joining the coalition, Iowa continues to demonstrate its commitment to helping veterans transition from military to civilian life. In addition, the event will include a free workshop for veterans focused on resume writing, interview skills, and job search techniques for all military members and their spouses.

"We are excited to expand our Get Skills to Work program with Iowa's statewide launch of the coalition. This program will help local manufacturers connect with skilled veterans ready to enter the civilian workforce," Institute President Jennifer McNelly said.

The Get Skills to Work coalition includes more than 500 manufacturers, and it focuses on training veterans in manufacturing and helping them translate existing military skills into manufacturing careers. The Institute along with GE, Aloca, Boeing, and Lockheed Martin, founded Get Skills to Work in October 2012, and together, the initiative has set a goal to reach 100,000 veterans by 2015. This program aims to train military veterans for advanced manufacturing careers, bolster the talent pipeline, and enhance American competitiveness.

The event will take place in the RiverCenter at 136 E. 3rd Street in Davenport, IA, from 8:30 a.m. to 1 p.m.

Speakers at the event include :                      

Mike Ralston, President, Iowa Association of Business Industry

Rob Woodall, Manufacturing Director, Alcoa Davenport Works

Dr. Don Doucette, Chancellor, Eastern Iowa Community Colleges

Derek Hill, Brigadier General, Iowa ANG

Rob Schroder, Vice President, International Strategy and Operations, U.S. Chamber of Commerce

Brent Weil, Senior Vice President, The Manufacturing Institute.

For more information, please visit www.getskillstowork.org

###

About The Manufacturing Institute 

The Manufacturing Institute (the Institute) is the 501(c)(3) affiliate of the National Association of Manufacturers. As a non-partisan organization, the Institute is committed to delivering leading-edge information and services to the nation's manufacturers. The Institute is the authority on the attraction, qualification and development of world-class manufacturing talent. For more information, please visit www.themanufacturinginstitute.org.

 

 

---

23 Jul 2014

Aerial Advertising for Businesses

By Ginny Grimsley

3 Ways to Get Your Audience Engaged with Your Brand This Summer
Marketing Strategies Should Adapt to Fit the Season, Says Skywriting CEO

It's summertime and whether or not people have vacation time to spare, they still behave accordingly, says advertising entrepreneur Patrick Walsh.

"Small business owners, non-profit organizers and anyone else trying to market a brand should take advantage of what makes this season special," says Walsh, CEO of AirSign Aerial Advertising, (www.airsign.com), a company that has re-imagined skywriting.

"While workers in the United States take far less vacation time than in most other developed economies, we still like to hit the beach and anywhere else with water, visit the park and grill outside with the family," he says. "With the kids out of school, many choose to take their days off during this time of year."

So, how can entrepreneurs tailor their message for a summertime audience? Walsh offers advice from past experience.

•  Don't be afraid to think big and beyond your handheld device. Earlier this year, during the South by Southwest (SXSW) festival in Austin, Texas, Walsh and his crew of pilots teamed up with artist Ben Davis for a public display of art dubbed "Pi in the Sky," to commemorate National Pi Day on 3/14. Pi is that infinite, enigmatic mathematical equation beginning with 3.14. Walsh's team of five synchronized aircraft spent more than 90 minutes printing out hundreds of numbers, each as tall as a skyscraper, in the pi sequence in a "painting" that covered 100 miles of airspace. Walsh and Davis garnered national exposure in newspapers, on TV and on the radio.

"This was the perfect cerebral display for the young, hip and entrepreneurial crowd attending SXSW," Walsh says. "Research potentially important summer dates and the cultural background of your target demographic."

•  Now, think within your little device - be interactive! With the help of Walsh's social media team, #PiInTheSky was created and shared on Twitter days before "Pi in the Sky" display. Walsh's planes spelled it out before beginning the Pi sequence, which allowed the social media team to control the message. People quickly figured out that using #PiInTheSky in their tweets and Instagram photo posts allowed them to share the experience with thousands of other people. Between the interactive campaign and the city-sized performance in the sky, AirSign's #PiInTheSky trended on Twitter at No. 2 nationwide on the day of the display and No. 1 in Austin for 24 hours, which captured the attention of the national media.

"Of course, this was pretty spectacular and took all kinds of planning, but we pulled it off!" Walsh says. "You don't have to go as big as we did to pull off something spectacular for your marketing efforts - but it does have to be interesting."

•  A step farther in knowing your audience: know who they are now. Grocery stores know how to move product. One strategy is to offer, during lunch and dinner hours, free samples of products they're trying to sell. If your audience is less predictable than the day's natural hunger cycles, then consider tracking the mood of your clientele via social media. If a major event is happening within your market, such as a summer concert series, position your brand to be part of the event.

"What's it like to be the people you're trying to attract? That's the question entrepreneurs constantly need to ask themselves," Walsh says. "Novel marketing strategies - or even those that are fairly straightforward - have the power to bypass the bargaining psychology of typical advertising by going straight to an audience's imagination."

About Patrick Walsh

Patrick Walsh is the CEO of AirSign Inc., (www.airsign.com), which, through the use of giant full-color airplane and helicopter banners, skywriting, digital night signs and blimps, produces show-stopping campaigns. The company recently received global recognition for its artistic skywriting display of several hundred pi characters over the 2014 South by Southwest festival. Walsh is a veteran entrepreneur.

21 Jul 2014

Governor Quinn Signs Legislation to Help Ensure Fair Hiring Practices Across Illinois

By Andrew Mason

New Law Prevents Criminal Background Checks Until After an Applicant is Deemed Qualified for a Job

CHICAGO - Governor Pat Quinn today signed legislation to help ex-offenders secure employment in the private sector and become productive members of society. The new law prevents criminal background checks until after an applicant is deemed qualified for a job. Today's action follows an administrative order the Governor issued last year to ensure the same consideration for those seeking state employment. Today's bill signing is part of Governor Quinn's agenda to ensure all Illinois' workers are treated fairly.

"Everyone deserves a second chance when it comes to getting a job," Governor Quinn said. "This law will help ensure that people across Illinois get a fair shot to reach their full potential through their skills and qualifications, rather than past history. It will also help reduce recidivism, fight poverty and prevent violence in our communities by putting more people back to work."

House Bill 5701, sponsored by State Representative Rita Mayfield (D-Waukegan) and State Senator Antonio Muñoz (D-Chicago), prohibits a private employer or employment agency from inquiring about or considering an applicant's criminal history until the applicant has been determined to be qualified for the job and selected for an interview. The new law does not apply to certain jobs where employers must exclude applicants with criminal histories. The legislation, which was recommended by the bipartisan Illinois Employment Restrictions Task Force, is effective January 1, 2015.

"By allowing applicants to undergo the interview process without being judged as unfit for employment because of their background, we will help individuals get back to work, pursue a higher education and become the responsible residents that our state thrives on," Representative Mayfield said. "I believe this legislation will improve the lives of many residents and give them the opportunities they were previously unable to strive for."

"Everyone should have the opportunity to be considered for employment," Senator Munoz said. "This legislation protects people with criminal records from discrimination, gives deserving people a second chance and allows them to be evaluated based on their suitability for a position."

Governor Quinn has supported and developed programs and signed legislation to give people of all ages a second chance in life. Governor Quinn recently signed legislation to automatically clear arrest records for less serious, non-violent juvenile cases. He also signed a law that broadens the list of sealable felonies and adds criteria for courts to use when deciding whether to grant an expungement.

Last year the Governor signed legislation to create a "second chance probation" option for non-violent offenders that allows a conviction to be cleared from a defendant's record upon successful completion of at least a two-year period of probation. He also signed bills to streamline the criminal record expungement and sealing process, and to give the courts discretion or jurisdiction to seal non-conviction records in felony arrests and charges.

In 2013, Governor Quinn issued an administrative order to "ban the box," prohibiting state agencies from asking job applicants about their criminal history before beginning to evaluate the individual's knowledge, skills and abilities. In 2010, he launched the Summit of Hope events to provide assistance to ex-offenders to help them reintegrate safely into society. Since 2010 nearly 80 events have been held across the state serving over 16,000 ex-offenders.

###
17 Jul 2014

FHLB Des Moines Releases 2014 Annual Stress Test Disclosure

By Megan Field
Results of the Federal Housing Finance Agency Annual Stress
Test Under the Severely Adverse Scenario

DES MOINES, Iowa, July 17, 2014 (GLOBE NEWSWIRE) -- The Federal Home
Loan Bank of Des Moines today made available the results of its first
annual stress test as required by its regulator, the Federal Housing
Finance Agency. Results can be found on the Bank's investor relations
page:

www.fhlbdm.com/about-fhlb-des-moines/investor-relations/

The stress test estimates the Bank's capital levels under hypothetical
severely adverse economic conditions.

These estimates should not be regarded as forecasts of actual financial
results. These results are modeled projections and may not reflect the
actual impact to the Bank if such a hypothetical scenario were to
occur.

Questions regarding the results of the stress test should be directed
to Megan Feld by calling 515.281.1159.

The Federal Home Loan Bank of Des Moines is a wholesale cooperative
bank that provides low-cost short and long-term funding and community
lending to more than 1,200 members, including commercial banks, saving
institutions, credit unions and insurance companies. The Bank is wholly
owned by its members and receives no taxpayer funding. The Des Moines
Bank serves Iowa, Minnesota, Missouri, North Dakota and South Dakota
and is one of twelve regional Banks that make up the Federal Home Loan
Bank System.
17 Jul 2014

Governor Quinn Expands Job Training Program for Illinois' Hardworking Residents

By Rick Martin

Construction Projects Will Put Hundreds to Work as Illinois' Unemployment Rate Drops to its Lowest Point Since October 2008

CHICAGO - As Illinois' unemployment rate fell to its lowest point since October 2008, Governor Pat Quinn today announced Employ Illinois, an expansion of his efforts to provide diverse residents with training for jobs in the construction industry. Offered through the Illinois Department of Transportation (IDOT) and the Illinois Tollway, Employ Illinois links job seekers with training and also increases the incentive paid to contractors from $10 to $15 an hour for each program graduate they put to work. Today's announcement is part of Governor Quinn's agenda to create jobs and help drive Illinois' economy forward.

"Putting people back to work is my number one priority," Governor Quinn said. "There are more people working now than when I took office and today's good news shows we are headed in the right direction. While we have more work to do, Employ Illinois will help give more of our hardworking residents the opportunity for hands-on training and job experience at a decent wage. Illinois is making a comeback and this program will help ensure our workers have what it takes to get the job done."

Preliminary data, released today by the Bureau of Labor Statistics and the Illinois Department of Employment Security, shows Illinois' rate has dropped to 7.1 percent, the lowest since October 2008 - months before Governor Quinn took office. The drop in the unemployment rate from March to June is the sharpest three-month decline ever recorded in Illinois.

Governor Quinn has directed IDOT and the Tollway to apply the Employ Illinois incentive on as many eligible projects as possible. Employ Illinois workers will take part in many of the projects funded by a new $1 billion road construction initiative that begins in August.

Under Employ Illinois, participants will develop the pre-apprenticeship skills they need to work on construction sites and begin the process of becoming journeymen and journeywomen in the construction trades. Since the $10 per hour hiring incentive took effect, trainees have participated in 269 contracts statewide, resulting in 9,172 hours in on-the-job training that was reimbursed by the state.

"The Tollway's Move Illinois Program is the largest in our agency's history and the largest of any toll road agency in the nation," Illinois Tollway Executive Director Kristi Lafleur said. "Employ Illinois will bridge the gap between these established training programs and the job opportunities that exist on a variety of roadway construction projects throughout Illinois."

"Employ Illinois is about investing in people as we invest in our roads and bridges," Acting IDOT Secretary Erica Borggren said. "Through this program, we will provide aspiring workers the help they need to develop marketable skills in the transportation trades."

The $15 per hour incentive will be paid by the state to contractors that hire Employ Illinois graduates. On IDOT projects, the agency funds the incentive paid to contractors. The Illinois Tollway will fund the incentives paid to contractors that hire Employ Illinois graduates on Tollway projects.

Ongoing projects already utilizing the new $15 per hour incentive include the Circle Interchange in Chicago, Roosevelt Road in Broadview, West Lake Avenue in Glenview, the Grand Avenue bridge in Gurnee, the U.S. 34 and Canadian National Railway separation project in Aurora and the Richton Road and I-57/Stuenkel Road projects in Will County.

Employ Illinois workers will participate in many of the major northeastern Illinois construction projects this season, part of the $1.1 billion capital bill passed by the Illinois General Assembly this spring, including:

·         $48 million reconstruction of the I-55 bridges approaching Lake Shore Drive in Chicago.

·         $86 million project to rebuild and repair the bridges at I-55 and Illinois 171 in the southwest suburbs.

·         $44.5 million project to add lanes to U.S. 14 in Crystal Lake.

·         $32.7 million reconstruction of the I-55 and Weber Road interchange in Romeoville.

·         $16.1 million reconstruction of the U.S. 41 and Illinois 132 interchange in Gurnee.

Other projects statewide that could include Employ Illinois workers are:

·         $22.4 million resurfacing and bridge repairs to I-64 in Washington County.

·         $21 million resurfacing of I-57 in Williamson County.

·         $13.6 million resurfacing and bridge replacement on I-57 in Iroquois County.

·         $8.6 million resurfacing and safety improvements on I-74 in Champaign County.

·         $30 million resurfacing on I-70 in Fayette and Effingham counties.

·         $26 million resurfacing of 31 miles of I-39/U.S. 51 in Winnebago and Ogle counties.

At Governor Quinn's direction, construction projects have exceeded goals for Disadvantaged Business Enterprise (DBE) participation. Over the past five years, the Tollway has spent nearly $586 million, or 25 percent of its $2.4 billion contracts awarded, with firms owned by minorities or women. Minority workers on Tollway projects have seen their hours quadruple between 2011 and 2013.

The Illinois Jobs Now!-funded $425 million rehabilitation of the Dan Ryan Branch of the Red Line project included 29 percent DBE participation for the track work component and 40 percent for the station work, with more than $56.4 million in construction work awarded to African-American contractors. The $695 million Stan Musial Veterans Memorial Bridge project in the Metro East featured 24 percent minority workforce participation on the Illinois-funded part of the project, nearly 10 percent higher than the goal set by the Federal Highway Administration and a record for construction projects in the Metro East area.

During the past five years, the state's road-building agencies under Governor Quinn have spent more than $4.2 billion with DBE firms, of which nearly $280 million went to African-American owned firms. This is the largest five-year total in the state's history. IDOT has seen DBE participation jump from $186 million, or 11.8 percent of all IDOT project spending in 2008, to $353 million and 16 percent in 2013.

Offerings through Employ Illinois include IDOT's Highway Construction Careers Training program (HCCTP), Tollway's Transportation Construction Apprenticeship Readiness Training program (TCART) and the Earned Credit Program (ECP), also through the Tollway. For more information about Employ Illinois, visit www.Illinois.gov/employ.

###
16 Jul 2014

Social Media for Small Business

By Ginny Grimsley

5 'P's" for Your Social Media Marketing Success
By: Jeremy Juhasz

Small businesses and nonprofits face a different set of circumstances when it comes to social media marketing than their larger for-profit counterparts, namely, smaller budgets, fewer employees and a greater priority on traditional forms of marketing.

For those charged with marketing, the biggest first step toward making social media an integral component of the plan may be convincing your organization. Despite widespread use of social networks for personal connections, the leadership of smaller organizations often questions its effectiveness as a marketing tool and whether they'll see a return on their investment.

I've developed and implemented social media strategies for a variety of organizations -- for-profits, nonprofits, and individuals. For all of them, I've discovered, when it comes to social media, it's important to remember the 5 P's:

1.) Plan - Identify what you hope to accomplish and create a strategy to take you there. Too many nonprofits and small businesses dive into social media because they "have" to and don't consider a plan of action before they do so. Make a list of what you want to accomplish. Is it to gain more donors? Get a higher attendance at your annual fundraiser? Increase sales?

Make it a priority to identify goals so you can create the social media strategies for meeting them.

2.) Patience - Nothing happens overnight. It takes time to develop relationships and establish credibility with your brand and your target audience. Over time, events and a steady pace will win out. Rushing leads to mistakes.

The type of patience I'm referring to is a long-term mindset. When day-to-day activities seem arduous and, at times, unfulfilling, know that each day builds to the greater goal. March on.

3.) Persistence - You must be stubbornly committed to your goals and your strategy. Keep plugging away and give your plan a fair amount of time and analysis before you pull the plug. If you know the plan is a good one, it's not a good ideas to panic and change course simply because you're not seeing results as quickly as you'd like.

That said, circumstances change, not every strategy works, and you need to also be willing to recognize that it is time to try something new.

Be persistent in implementing your plan and in monitoring whether you're reaching the objectives that will take you to your goal.

4.) Pay (what you can) - These days, especially on Facebook, it's a pay-for-play landscape. Pay where you can, if you can. The results can provide the spark you need to drive a specific campaign or to increase your overall visibility to your target market. It can also be a very affordable alternative to other digital advertising options.

5.) Prioritize - I can't stress enough the importance of time management. If your marketing staff consists of only one or two people, it's essential that you stay on top of your social media strategy by prioritizing your quarterly, monthly, weekly and daily objectives and goals. Nonprofits and small businesses face countless new daily challenges. Sometimes we lose track of what's most important. Take the time to identify those tasks critical to your success and make them a priority.

You can succeed with social media even if your organization doesn't have the brand recognition of a multi-billion dollar corporation. If you remain even-keeled and set realistic goals, the return on investment will follow.

About Jeremy Juhasz

Jeremy Juhasz is a social media strategist at EMSI Public Relations and a panelist for the Tampa Bay Marketing Summit, (www.tampabaymarketingsummit.com) on Aug. 8. Jeremy has  years of experience managing social media marketing for the nonprofit sector, including launching social media and online strategies for  Feeding America Food Bank and Goodwill affiliates. His multi-media background includes work as a newspaper reporter and as a marketing professional.  He's a graduate of Alfred University and attended Kent State's School of Communication and Information, public relations.

14 Jul 2014

Governor Quinn Announces State's Backlog of Bills Falls to $3.9 Billion

By Abdon Pallasch, Asst. Budget Director

Lowest Point Since Governor Quinn Took Office; Strict Spending Brings Backlog Down from High of $9.9 Billion in 2010

CHICAGO - Governor Quinn today announced that the state's backlog of bills has fallen from a high of $9.9 billion in 2010 down to $3.9 billion as of June 30, the lowest point since the Governor took office. Five years ago, Illinois was home to the worst pension crisis in America and the state's backlog of bills was on its way to more than $9 billion. Since taking office, Governor Quinn has made tough decisions, enacted major structural reforms and cut state spending by more than $5.7 billion.

"Making the tough decisions has moved Illinois forward," Governor Quinn said. "Today Illinois is in a stronger financial position than we were five years ago and we have more work to do to continue moving our finances in the right direction."

The backlog of bills is now closer to the typical private industry 30-day billing standard - about $2.2 billion in Illinois' case - and is a direct result of the Governor's willingness to make the tough decisions including overhauling the Medicaid program, reforming worker's compensation and unemployment insurance systems and implementing major efficiencies such as closing and consolidating more than 50 state facilities.

In March, the Governor submitted a balanced budget plan that continued paying down the state's bills, protected education and public safety and secured Illinois' long-term financial future, but legislators instead postponed the tough budget decisions.

Governor Quinn recently cut Illinois' Fiscal Year 2015 state budget, zeroing out $250 million for renovations of the state Capitol. In addition, as part of his ongoing budget review, the Governor directed state agencies to identify additional efficiencies, including selling nearly half of the state's aircraft.

The Governor also directed state agencies to cut 80 paid parking spaces for state employees in downtown garages - more than 30 percent of the total spots reserved. The move will save taxpayers more than $100,000 annually. He also again reduced lease costs for government buildings that will save taxpayers an additional $55 million this year.

Governor Quinn's budget cuts over the past five years include shrinking the state payroll from 54,000 to 50,000 - the third-lowest number of state government employees per capita in the entire country according to Governing Magazine.

For more information, please visit: http://www2.illinois.gov/gov/budget/Documents/Bill_Backlog_Presentation_7.14.14.pdf.

###


14 Jul 2014

Top 10 Ways People Go Broke

By Ginny Grimsley
Self-Made Millionaire Shares Common Mistakes to Avoid

You don't have to come from a wealthy family, have the next billion-dollar idea or work 18-hour days to become rich, says self-made millionaire Mike Finley.

"You don't have to be extraordinary in any of the headline-grabbing ways; what you need is the self-awareness to avoid wasting money on short-term, retail-priced happiness," says Finley, author of "Financial Happine$$," (www.thecrazymaninthepinkwig.com), which discusses his journey to financial literacy and the principles and practices that allowed him to retire from the Army a wealthy man.

"Money used wisely can give you the financial security associated with the good life."

Finley lists 10 of the most common money traps that lead to consumers going broke:

•  Make the appearance of wealth one of your top priorities by acquiring more stuff. The material trappings of a faux lifestyle, as seen in magazines and advertisements, are not good investments either financially or in long-term happiness.

•  Work a job you hate, and spend your free time buying happiness. Instead, find fulfilling work Monday through Friday so you're not compensating for your misery with expensive habits during the weekend.

•  Live paycheck to paycheck and don't worry about saving money. Live for today, that's all that matters. Have you already achieved all of your dreams by this moment? If not, embrace hope and plan for tomorrow. (Appreciating your life today doesn't require unnecessary expenditures.)

•  Stop your education when someone hands you a diploma; never read a book on personal finance. Just about any expert will tell you that the most reliable way out of poverty is education. Diplomas shouldn't be the end of learning; they should be a milestone in a lifetime of acquiring wisdom.

•  Play the lottery as often as possible. While you're at it, hit the casino! Magical thinking, especially when it comes to money, is a dangerous way to seek  financial security.

•  Run up your credit cards and make the minimum payments whenever possible. Paying interest on stuff you really don't need is a tragic waste of money.

•  When you come into some free money, spend it. You deserve it. By that logic, you're saying that a future version of you doesn't deserve the money, which can be multiplied with wise investments.

•  Buy the biggest wedding and the biggest ring so everyone can see just how fabulous you really are. Nothing says "Let's start our future together" like blowing your entire savings on one evening.

•  Treat those "amazing" celebrities and "successful" athletes as role models. Try to be just like them whenever possible. As far as we know, there's only one you the universe has ever known. Don't dilute your unique individuality by chasing an image.

•  Blame others for your problems in life. Repeat after me: I am a victim. The victim mentality is an attempt to rationalize poor habits and bad decision-making.

"If you're feeling uncomfortable with your financial situation, don't just sit there in a malaise of 'If only I had more money,' " Finley says. "Instead, use it as motivation for a better life; that's why the discomfort is there."

About Mike Finley

Like most Americans, Mike Finley was raised with no education in personal finances. Joining the Army out of high school, he realized he didn't understand money management and began the task of educating himself. After 26 years in the service, during which he practiced the principles he learned, he retired a millionaire. Finley is the author of "Financial Happine$$," (www.thecrazymaninthepinkwig.com) and teaches a popular financial literacy class at the University of Northern Iowa. He donates much of his time to additional groups, including Junior Achievement of Eastern Iowa and organizations serving veterans and current military personnel.

14 Jul 2014

Governor Quinn Announces Illinois Economy's Growth Highest in the Midwest

By Rick Martin
CHICAGO - Governor Pat Quinn today announced that Illinois economy's growth is the highest in the Midwest, according to the Philadelphia Federal Reserve. The Federal Reserve, which has historically provided an accurate barometer of state growth, announced that Illinois will have the largest economic growth in the Midwest over the next six months. According to the projections, the Illinois economy will increase by 2.49 percent during the second half of 2014 (Federal Reserve Bank of Philadelphia, "State Leading Indexes").

The projected rate for other Midwestern states are as follows:

  • Ohio 2.30
  • Nebraska 1.94
  • North Dakota 1.68
  • Iowa 1.46
  • Indiana 1.51
  • Wisconsin 1.36
  • Kentucky 1.20
  • Minnesota 1.05
  • Missouri .98
  • Michigan .93
  • South Dakota .50
  • Kansas .60

Illinois has added more than 242,000 private-sector jobs since the recovery began in 2010, the U.S. Bureau of Labor Statistics (BLS) reports. The BLS also reports there are more people working in Illinois today than at any time since February 2009 ?the first month of Governor Quinn's administration. Illinois ranks 3rd in the country for corporate expansions and locations according to Site Selection Magazine.

For more information visit: http://www.philadelphiafed.org/research-and-data/regional-economy/indexes/leading/ (click on "revised data").

###

Pages

Subscribe & Listen to Reader Podcasts

On Stands Now

 

Tagged Content

    

Two Ways to Subscribe

1. Subscribe to free weekly e-mail content updates.

You'll get both the current official narrative challenge and What's Happenin' in the Quad Cities.
(Did you know we publish a new Real Astrology and RCR Crossword every week?) 

Subscribe!

* indicates required

2. Get 12 monthly issues mailed first class for $48

Get 12 issues mailed monthly for $48 per year.

Get the printed Reader edition mailed to you (or anyone you want) first-class for 12 months for $48.
$24 goes to postage and handling, $24 goes to keeping the doors open!

Click this link to Subscribe now.