Card Grading Company in Bettendorf Leaves Sports Fans Empty Handed

The Better Business Bureau serving Greater Iowa, Quad Cities and Siouxland Region is issuing a consumer alert about Global Authority of Bettendorf, IA.  According to the company's website, Global Authority offers "authentication and grading services for a wide spectrum of collectibles."

The BBB has closed 21 complaints against this company in the last year and has received over 100 inquiries.  Global Authority has earned an F rating with the BBB due to failure to respond to complaints, many of which are considered serious in nature.

Consumer complaints primarily allege that after sending trading cards to the company for authentication and grading, Global Authority refuses to return the cards and consumers are unable to reach the company.

One disgruntled customer stated, "I sent them a 1954 wax pack of Bowman Football cards to be graded and encapsulated by them.  They sent me confirmation that they received the item and would start the grading process.  They did not bill my credit card, but they kept the pack, which is quite valuable.  They would never return my calls or emails regarding this."

The BBB has made several unsuccessful attempts to reach out to the company both by phone and by mail.

The BBB understands that handing over one's collectibles can be risky business.  Personal collections can be of value to their owner for both monetary and sentimental reasons; therefore, the BBB offers the following advice when looking for a reputable authenticating service:

ü  If possible, look local. There is always an inherent risk in sending valuables through the mail.

ü  Look for companies with a good reputation in the industry. In the world of sports memorabilia, there are card graders that are known and respected throughout the hobby by the majority of serious collectors.

ü  Take appropriate measures before mailing your treasures. If you decide to do business with a company that requires you mail your goods, make sure you keep a detailed track of your inventory, insure the package and record your tracking number.  Also, make sure your items are adequately covered under your homeowner's policy, should they not be returned.

Please contact the BBB if you feel you have been a victim of this company.  As always, the BBB reminds you to start your search with Trust.  Find trustworthy businesses and consumer advice at www.iowa.bbb.org.

DES MOINES, IA (08/19/2012)(readMedia)-- Young competitors from across Iowa earned breed championships in the Youth Dairy Cattle Show judged Thursday, August 9, at the 2012 Iowa State Fair.

Exhibitors were also judged on their showmanship skills. The Showmanship award is given for the exhibitors' ability to present their livestock in the show ring and answer any questions the judge may ask about their animal.

Breed division winners in the Youth Dairy Cattle Show included:

AYRSHIRE

Junior Champion: Logan Worden, Oelwin

Junior Reserve Champion: Brad Arthur, Maynard

Senior Champion: Kaleb Kruse, Dyersville

Senior Reserve Champion: Sammie Rathjen, Walcott

Grand Champion: Kaleb Kruse, Dyersville

Reserve Grand Champion: Sammie Rathjen, Walcott

GUERNSEY

Junior Champion: Lars Sivesind, Waukon

Junior Reserve Champion: Landon Sivesind, Waukon

Senior Champion: Carley Kammerude, Dubuque

Senior Reserve Champion: Austin Knapp, Epworth

Grand Champion: Carley Kammerude, Dubuque

Reserve Grand Champion: Austin Knapp, Epworth

HOLSTEIN

Junior Champion: Scott Stempfle, Maynard

Junior Reserve Champion: Isaac Lyons, West Union

Senior Champion: Riley Demmer, Peosta

Senior Reserve Champion: Ashley Bushman, Calmar

Grand Champion: Riley Demmer, Peosta

Reserve Grand Champion: Ashley Bushman, Calmar

JERSEY

Junior Champion: Brian Arthur, Maynard

Junior Reserve Champion: Cole Kruse, Dyersville

Senior Champion: Ross Wedewer, Epworth

Senior Reserve Champion: Eric Metzger, Lester

Grand Champion: Ross Wedewer, Epworth

Reserve Grand Champion: Eric Metzger, Lester

MILKING SHORTHORN

Junior Champion: Ashley Bushman, Calmar

Junior Reserve Champion: Megan Bushman, Calmar

Senior Champion: Halie Gruenwald, Lost Nation

Senior Reserve Champion: Bradley Byers, Milo

Senior Grand Champion: Halie Gruenwald, Lost Nation

Reserve Grand Champion: Bradley Byers, Milo

SHOWMANSHIP

Junior Champion: Regan Demmer, Peosta

Intermediate Champion: Jessica Stempfle, Maynard

Intermediate Reserve Champion: Mitchell Hanson, La Porte City

Senior Champion: Austin Knapp, Epworth

Senior Reserve Champion: Michael Lyons, Castalia

"Nothing Compares" to the 2012 Iowa State Fair, August 9-19. The Fairgrounds are located at East 30th and East University Avenue, just 10 minutes east of downtown Des Moines, and are open 7 a.m. to 1 a.m. each day of the Fair. Exhibit hours may vary. For more information, call 800/545-FAIR or visit iowastatefair.org.

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Thune, Grassley Question Obama Administration on Taxpayer Funding of Faltering Battery Manufacturer Following Planned Chinese Investment

WASHINGTON, D.C.–U.S. Senators John Thune (R-S.D.), Chairman of the Senate Republican Conference, and Chuck Grassley (R-Iowa), Ranking Member of the Senate Judiciary Committee, today sent a letter to the Obama administration's Department of Energy (DOE) questioning the use of taxpayer dollars to shore up another faltering stimulus-funded company, A123 Systems Inc. Last week, a Chinese-based company, Wanxiang Group Corp., announced a substantial investment in the U.S. battery manufacturer, which could result in Chinese ownership of the company that could still receive over $100 million in U.S. taxpayer funds.

Thune and Grassley sent a letter to the DOE on June 25^th requesting more information on Stimulus money transferred to A123 as it related to the taxpayer-backed loan guarantee to the troubled auto company Fisker. The Obama administration failed to address the senators' questions in a response letter.

The text of the senators' letter sent today is included below.

August 14, 2012

Dr. Stephen Chu

Secretary

Department of Energy

1000 Independence Avenue, SW

Washington, DC 20585

Dear Secretary Chu:

We write today in regards to the Department of Energy (DOE) grant to A123 Systems, Inc., and the recent announcement of Wanxiang Group Corp, a China-based company, to heavily invest in the U.S. battery manufacturer.

In 2009, A123 was awarded a $249.1 million grant through the American Reinvestment and Recovery Act of 2009 (Recovery Act).  In a letter dated June 25, 2012, we asked you how much of this grant has yet to be transferred to A123.  Although you failed to answer this straightforward question, media reports indicate that A123 has approximately $120 million of the $249.1 million grant currently outstanding.

Recently, A123 and the China-based Wanxiang announced a $450 million deal to save the struggling battery manufacturer.  According to media reports, Wanxiang will purchase $200 million of A123's secured debt and provide up to an additional $250 million in financing.  A key part of this transaction gives Wanxiang the option to transfer some of this debt into ownership of the company, which could result in Wanxiang owing 80 percent of A123.

Billions of U.S. taxpayer dollars have flowed to foreign companies through the Recovery Act, and we are concerned that the recent announcement could lead to even more taxpayer dollars going overseas.  Given that A123 could soon be owned by a Chinese company, please answer the following questions with regards to this transaction and A123's outstanding Recovery Act grant:

1.         How much of A123's $249.1 million Recovery Act grant is still outstanding?

2.         Considering that A123 has already received millions of U.S. taxpayer dollars and could potentially receive up to $450 million from a foreign company, does A123 need additional taxpayer dollars to continue its operations?

3.         If the A123-Wanxiang transaction is approved, how will that impact future distributions of A123's Recovery Act grant, if at all?

4.         If the A123-Wanxiang transaction is approved and Wanxiang exercises its option to convert A123's debt into equity, does DOE still plan to distribute the unused portion of A123's Recovery Act grant?  If so, why?

5.         What assurances does DOE have that Wanxiang will not simply wait until the additional grant money is awarded and then exercise its option to convert A123's debt into ownership of the U.S.-subsidized company?  Would DOE view that as an appropriate outcome?  If so, why?

6.         What assurances, if any, does DOE have that the A123-Wanxiang transaction and additional DOE funding through the Recovery Act will not lead to a transfer of taxpayer-funded intellectual property to a China-based company, or that the taxpayer funded manufacturing jobs will remain in the United States?

7.         With the recent announcement that Wanxiang will be investing in A123, will the DOE place additional milestones on A123's progress before awarding the additional Recovery Act grant dollars, and if so, what would those be?   What assurances does DOE have, if any, that A123 has solved its technical problems and that A123 will become profitable in the near future?

8.         In an August 3, 2012, letter to us, Acting Executive Director of DOE's Loan Program Office David Frantz wrote that, "(t)he Department is in constant dialogue with A123 to stay abreast of progress, challenges, plans and developments to assure that the project is meeting the objectives as defined in the grant.  DOE is also continually monitoring risk and financial conditions.  As part of this "continual monitoring" when did DOE become aware of A123's pending transaction with Wanxiang?

9.         Did DOE raise any objection to this transaction?  If so, when?  Please provide documents supporting any objection raised by DOE to this transaction.

Thank you for your cooperation and attention in this matter.  We would appreciate a response by August 21, 2012.

Sincerely,

John Thune

Charles Grassley

New report shows increasing federal minimum wage would give more than 28 million American workers a raise, create jobs, and give boost to local economy

(Rock Island County, Ill) - A new report from the Economic Policy Institute (EPI) shows more than 1,238,225 workers in Illinois would benefit, directly or indirectly, from an increase to the federal minimum wage (see attached report).

Increasing the federal minimum wage from $7.25 to $9.80 per hour would give these workers a raise while generating approximately 4,500 jobs in Illinois, over three years, finds the new EPI Issue Brief authored by Doug Hall, How raising the federal minimum wage would help working families and give the economy a boost.

Nicole Thompson, a minimum wage worker in Rock Island, says a raise in the minimum wage would greatly help her family pay for basic necessities like food and utilities "Sometimes I have to go to the food pantry just to feed my family." Thompson works more than 40 hours a week.

In contrast to prevailing myths about minimum-wage workers, raising the federal minimum wage would benefit millions of workers across demographic groups, not just teenage part-time workers. Almost 88 percent of workers who would be affected are at least 20 years old. Female and non-minority workers would benefit disproportionately from the increase; women comprise nearly 55 percent of those affected, and non-Hispanic white workers make up about 56 percent.

While increasing the minimum wage immediately benefits the lowest-paid workers through boosted earnings, it also yields positive effects on the larger economy. Raising the federal minimum wage to $9.80 would put nearly $40 billion in the hands of directly and indirectly affected families, augmenting their spending power in the local economy. In return, these families would be more likely than any other income group to spend these extra earnings immediately on basic needs or services they could not previously afford.

[mog1] This additional spending power would be a useful tool to spur job growth, as employers would need to hire new staff to keep up with heightened demand for goods and services. In fact, an increase in the federal minimum wage from $7.25 to $9.80 per hour would result in a net increase in economic activity of approximately $25 billion, generating approximately 100,000 new jobs. This hike would have a positive impact across the country, with job creation in every state.

EPI researchers show that raising the minimum wage would provide a substantial lift to the national economy and benefit workers still reeling from the effects of the recession, generating almost $40 billion in increased wages.

"With the national unemployment rate not budging below 8.0 percent, now is the perfect time to raise the minimum wage," said Hall. "Not only will it generate billions of new dollars for the economy while adding new jobs when we sorely need them, it will begin to address the wage stagnation working families have faced during the last four decades, while putting more money in their hands when they need it most."[mog2]

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