29 May 2012

USDA Highlights Efforts to Boost Rural Job Creation During National Small Business Week

By USDA Communications

WASHINGTON, May 24, 2012 – A top USDA Rural Development official this week met with local leaders and business owners in the Midwest to highlight rural small business accomplishments and observe "National Small Business Week".

"We know that to build a strong foundation for our country, we must continue to invest in rural communities and small businesses that create new economic opportunities for those who call rural America home," said John Padalino, Acting Administrator of USDA Rural Development's Rural Business-Cooperative Service (RBS). "We've seen continued growth in rural business development and the Obama Administration will continue working to strengthen local economies throughout the country."

Padalino met this week with business leaders in Iowa and South Dakota and highlighted ways RBS business and cooperative programs help improve rural economic conditions by providing guaranteed loans and development grants for projects that help create and save jobs.

Nationally, from 2009 through 2011, RBS provided 12,214 guaranteed loans, direct loans and grants that assisted more than 50,000 businesses and helped create or save more than 266,000 jobs.

For example, Morris Manufacturing and Sales Corporation, a family-owned automotive parts manufacturer, had to lay off 100 of its 135 employees when two major automakers closed down production and reorganized. With the assistance from USDA Rural Development, Morris Manufacturing located in Brazil, Ind. secured four B&I loan guarantees totaling $10.2 million, which it used to restructure debt and purchase new equipment. As a direct result of these loans, the company rehired its laid off workers, built a new production facility, expanded its product line, and hired over 60 new employees.

The Montana Wagyu Cattle Company is a family-owned and operated business that raises cattle and provides USDA Grade-A beef and specialty beef products to restaurants, stores, and consumers throughout the region. In 2009, the company used their $49,900 Value-Added Producer Grant (VAPG) to grow and expand their business by selling products over the internet.

Today, the company sells and ships custom-ordered cuts of beef (steaks, roasts, and specialty cuts) to consumers and businesses all over the United States.

In 2010, Ecotrust of Portland, Oregon, used their $249,340 Rural Business Opportunity Grant to market their FoodHub internet website - an online directory and marketplace that connects regional farmers, grocers, restaurants, and wholesales - to food producers and buyers. The FoodHub website helps agricultural producers tap into the growing local foods market by shortening the supply chain between producers, sellers, and consumers. The RBOG will also be used to provide training and assistance to businesses that want to sell through the website.

In June 2010, 550 companies used FoodHub. Today, almost 3,600 businesses in Oregon, Washington, Idaho, Montana, and California use FoodHub to market their products.

Since taking office, President Obama's Administration has taken historic steps to improve the lives of rural Americans, put people back to work and build thriving economies in rural communities. From proposing the American Jobs Act to establishing the first-ever White House Rural Council - chaired by Agriculture Secretary Tom Vilsack - the President is committed to using Federal resources more efficiently to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.

USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure and facility programs through a national network of state and local offices. Rural Development has an active portfolio of more than $165 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers, and to improve the quality of life in rural areas.

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USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).


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29 May 2012

Memorial Day gas prices, still higher than they have to be

By Corrine Williams

Families are gearing up for Memorial Day vacations over the next few days, the good news for travelers is that oil prices are falling. Gasoline prices have dipped below $4 a gallon. Headlines across the nation are optimistic, but it's not time to start celebrating yet. Gas prices are still higher than they have to be.

Heritage expert Nick Loris says that both Congress and the administration have failed to act constructively to remove obstacles that would allow the market to respond more effectively to high oil prices and there are a number of things they can still be doing.
29 May 2012

McDonald joins MSA

By Leslie Blaize

DAVENPORT, IA: Robert McDonald, P.E., has recently joined MSA Professional Services, Davenport, as a senior project engineer. For the past 30 years, he has provided design services for municipal roadways and storm sewer systems.

Mr. McDonald earned a Bachelor of Science Degree in Civil Engineering from Pennsylvania State University.

MSA is a full service consulting firm with 15 offices throughout the Upper Midwest. For more information, call 866.732.6321 or visit www.msa-ps.com.

29 May 2012

Judiciary Committee Approves Bipartisan Bill to Help Small Businesses

By Grassley Press

Legislation Would Make Bankruptcy Process Easier for Small Companies

 

Washington, DC - With small businesses across the country struggling in the wake of the recession, the Senate Judiciary Committee today approved bipartisan legislation by U.S. Senators Sheldon Whitehouse (D-RI) and Chuck Grassley (R-IA) that would help small businesses facing bankruptcy.  The Small Business Reorganization Efficiency and Clarity Act would modify the Chapter 11 bankruptcy process to be more manageable for small businesses hoping to remain in business and preserve jobs.

 

"Chapter 11 was designed for large publicly-traded corporations and does not work for many small businesses," said Whitehouse.  "Our bill is a first step in improving the process for small companies and would implement some important changes to make it more flexible.  Providing viable small companies with a better reorganization process will help businesses maintain jobs."

 

"Judges, attorneys and businesses raised concerns.  This bill responds with good, common sense changes to help small businesses in bankruptcy.  It will also help us, the Congress, in determining whether future changes are needed," Grassley said.  "The bill is a step in the right direction as we continue work going forward."

 

The Small Business Reorganization Efficiency and Clarity Act would:

 

·         Give debtors and courts 45 additional days (total of 90) to confirm bankruptcy plans.  While the current 45-day deadline was intended to expedite small business cases, it has proven to be an insufficient amount of time for many debtors and courts;

·         Eliminate an ambiguous "catch all" reporting requirement that results in unnecessary filings and wasted attorney hours; and

·         Allow small business debtors to retain pre-filing counsel and other professionals even if such professionals have small claims against the estate.  It doesn't make sense to disqualify a lawyer familiar with a company from representing it just because the lawyer has a small claim.

 

The legislation would also direct the Government Accountability Office and the Administrative Office of U.S. Courts to report information on small business cases and to make recommendations for further reforms.

 

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29 May 2012

Harkin Commends Obama Visit to Iowa: Job Creation by Investing in Renewables

By Sen. Tom Harkin

No More Urgent Priority than Rebuilding the Middle Class

WASHINGTON, D.C. - Senator Tom Harkin (D-IA) today issued the following statement on the President's visit to Iowa.  Harkin, who chairs the Senate Health, Education, Labor, and Pensions Committee, is leading the effort in Congress to rebuild the middle class in America.   Last August, he held a listening session in Newton with local officials, which informed his Rebuild America Act legislation.  Senator Harkin is also a senior member and former Chairman of the Senate Committee on Agriculture, Nutrition and Forestry.  

"One thing is clear: there can be no sustained economic recovery without a recovery of the middle class in America, the backbone of our economy.  And one way to spur job creation and aid in that rebuilding effort is by supporting the diverse and growing renewables sector in Iowa, including both wind and biofuels.  

"I am glad the President is visiting Newton today - an area that has clearly demonstrated it is possible to create jobs and rebuild through the renewables sector.  It is now imperative that Congress extend alternative energy tax credits, including credits for wind and biofuels, so that small towns like Newton will have the boost they need over the long-term.  

"So I commend President Obama, I welcome him to Iowa, and I applaud his call to support the renewable industry, spur job creation, and rebuild the middle class in America."

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29 May 2012

IRJA Chairman Rep. Bill Black on SB 1849's passage:

By Illinois Revenue and Jobs Alliance
"The Illinois Revenue and Jobs Alliance commends the leadership demonstrated today by the Illinois House of Representatives. With the tens of thousands of jobs and the hundreds of millions in new revenue that the passage of SB 1849 will create, our state has now officially taken the first step on the road to financial recovery. Thank you to our House members in Springfield and to Representative Lou Lang and Senator Terry Link for working so hard to get this done. We hope now that members of the Illinois Senate will act in kind."

-Rep. Bill Black, Chairman, The Illinois Revenue and Jobs Alliance
23 May 2012

Grassley follows up with USDA about discrimination claims

By Grassley Press

Tuesday, May 22, 2012

WASHINGTON - Senator Chuck Grassley has asked the U.S. Department of Agriculture for a status report on the agency's effort to improve its process for resolving discrimination claims made by employees following independent assessments that recommended improvements in 2008 and 2011.

 

"The discrimination issues and delays in resolving claims are not a new issue for the Department of Agriculture, but it's time for a clear indication that systemic problems are being resolved.  To date, the agency response to questions about progress being made have been somewhat vague and inadequate," Grassley said.

 

The Iowa senator made his request for a status report in a letter sent today to Agriculture Secretary Tom Vilsack.  Click here to read Grassley's letter to Vilsack.

 

Both a 2008 report of the Government Accountability Office, which is the investigative arm of Congress, and a 2011 Jackson Lewis report commissioned by the Department of Agriculture identified problems in the way the agency managed employee claims of discrimination and made recommendations for improvements.

 

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23 May 2012

National Small Business Week: Don't Let a Disaster Put You Out of Business, says IBHS

By Rick Martin

Tampa, Fla. (May 22, 2012) - During National Small Business Week (May 20 - 26) the Insurance Institute for Business and Home Safety (IBHS) urges  small business owners and managers to prepare for risks that could threaten their operations.

"Owning or managing a small business is no easy task," said Gail Moraton, IBHS' business resiliency manager. "It requires a great deal of hard work and dedication to sustain the business and help it grow. Unfortunately, this leaves little time to spend preparing for a catastrophe that could force a business to close its doors - permanently."

Preparedness starts with an assessment of the risks and vulnerabilities your business faces. Use IBHS' risk and vulnerability assessment tool to accomplish this task.

Once you have identified the risks facing your business, the next step is to seek out the appropriate protective and mitigation measures specific to each type of disaster that could result in business interruption. The IBHS Open for Business® toolkit is a free program that helps small to mid-sized businesses develop a business continuity and property protection plan.

Using the tools provided by Open for Business, business owners and managers can take the necessary steps to keep their doors open following a disaster, reduce their potential for loss, and recover more quickly should the worst occur. Regardless of what causes a business interruption, having a plan in place ahead of time could mean the difference between survival and closure.

"Businesses that have a business continuity plan in place -- and use it during and after a disaster strikes -- typically experience less damage, loss and downtime than businesses without a plan," said Moraton.

In addition to a business continuity plan, business owners also should have a property protection program in place, according to Chuck Miccolis, IBHS commercial lines engineer.

"A property protection program gives businesses the advantage of remaining open or re-opening as quickly as possible during a time of need for their  customers, employees, and often their own family members. This level of dependability and service following a major catastrophe enhances their reputation and adds to their value in the community," said Miccolis.

To help business owners implement a property protection plan, IBHS offers "12 New Year's Resolutions for Protecting Businesses in 2012." The free, downloadable guide identifies practical and affordable business protection resolutions that most business owners or managers can perform on their own or with limited outside assistance.

or via direct message on Twitter @jsalking.

for more information about how to make your property more resistant to a variety of disasters, big and small. Follow IBHS on Twitter at @DisasterSafety and on

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23 May 2012

Defending Debt - Why It's Good

By Rick Martin
Money Coach Debunks Financial Planning Myths

When it comes to the best ways to use money, too many Americans operate under a key misconception, says investment adviser and financial planner Ike Ikokwu.

"Money is opportunity, and having a blind spot for maximizing investment can drastically reduce one's future options," says Ikokwu, author of Winning the Money Game: Separating the Myths from the Truth (www.winningthemoneygame.net).

That blind spot is debt, he says. Just as Americans have learned that are such things as good fats and good cholesterol, so too is there good debt for a prosperous financial future.

"The three most common ways people in this country get rich all involve using debt," he says. "They use it to launch businesses, invest in real estate, or pay for advanced degrees in order to become high-income earners."

Some myths born from the idea that all debt is bad include :

• Paying off your home mortgage provides financial security.
• A 15-year mortgage is always the quickest way to pay off your home.
• Putting money in your 401K or other qualified plan saves you taxes.
• The stock market is the only place to generate high, double-digit returns.

Admonishments to "stay out of debt" prevent people from gaining financial independence, Ikokwu says. Investing in education, a new career in another state or a new business may be more lucrative than paying down a mortgage.

"My definition of being 'debt-free' is to have enough money so that you can pay off your debt at any time - if you need to,'' he says. "But you don't necessarily want to do that. Good debt can save you money on taxes, increase your investment gains and allow you to take advantage of wealth-building opportunities. Bad debt, on the other hand, is like having a big hole in your money bucket."

Ikokwu developed a new personal financial plan after a period of successful investing imploded following the market crash in 2001. After filing for bankruptcy in 2003, he rebuilt his wealth - using his new plan - in five years. Today he is financially independent and his wealth secure.

"To a greater extent than many Americans suppose, money is plastic," he says. "That means you do not have to be rich in order to gain more wealth, and we do not have to follow old, outdated paths. We can all mold the money we have to a shape that yields better return."

About Ike Ikokwu

Ike Ikokwu, "The Financial Independence Coach," is a CPA, CFP and registered investment adviser. He holds a bachelor's in accounting and a master's in personal financial planning. Ikokwu is president and CEO of Winning the Money Game with Ike, a tax and financial advisory firm in Cumming, Ga. While working for "Big 6" tax firms and buying real estate, Ikokwu funneled his profits into domestic and international investments, only to realize too late that they were Ponzi schemes. Forced to declare personal bankruptcy in 2003, he rebuilt his wealth by changing his approach to finances. Tune into Atlanta's WGUN-1010 (AM) at 11 a.m. Saturdays for his weekly show.

23 May 2012

Governor Quinn Urges Lawmakers to Act Swiftly on Medicaid and Pension Restructuring

By Nafia Khan

Legislation Filed to Restructure Medicaid, 10 Days Left in Spring Session

SPRINGFIELD - May 21, 2012. With 10 days until the end of the spring legislative session, Governor Quinn today urged lawmakers to act to restructure the state's Medicaid and pension systems. Today House Amendment 3 to Senate Bill 2840, also called the SMART Act, was filed to restructure the Medicaid system. The bill is based on the Governor's proposal to save Medicaid, which is on the brink of collapse.

"If we do not address pensions and Medicaid now - before the spring session ends - our Medicaid system will collapse and leave thousands of our most vulnerable families without access to vital services," Governor Quinn said. "There are 10 days left to do the right thing, and I urge legislators to act now in order to preserve both systems for years to come."

The Save Medicaid Access and Resources Together (SMART) Act is based on a comprehensive review of the Medicaid program conducted by the working group, which is comprised of members of both legislative caucuses and led by the governor's office. House Amendment 3 to SB 2840, sponsored by Rep. Sara Feigenholtz (D-Chicago), scales the program to fit existing appropriations through spending reductions, utilization controls and provider rate cuts.

Together, Medicaid and pensions account for 39 percent of state general revenue spending, putting a tremendous squeeze on the rest of the budget. Illinois is expected to end this fiscal year with almost $2 billion in unpaid Medicaid bills, caused in part by rising medical costs, increased enrollment during the economic recession and a deferral of $1.9 billion in last year's bills to this fiscal year. Without immediate and fundamental restructuring of the Medicaid system, the non-partisan Civic Federation projects that Illinois' unpaid bills will rise to $21 billion by 2017.

Illinois' pension system is now under-funded by $83 billion due to decades of inadequate funding by past lawmakers and governors, and the promise of increased benefits without sufficient revenue to pay for those benefits. Under Governor Quinn, as annual required contributions increased dramatically, the state paid exactly what the law required into the pension systems. The fiscal year 2013 payment of $5.2 billion, now makes up 15 percent of general revenue fund spending compared to 6 percent a few years ago.

Governor Quinn recently proposed a plan to fundamentally restructure the Medicaid system and save it from collapse by creating $2.7 billion in savings. The Governor's Medicaid plan cuts waste, fraud and abuse; raises the price of cigarettes; and brings back dollar-for-dollar federal matching funds to help keep people healthier. The Governor also recently proposed a bold plan to stabilize the pension system, which is expected to save taxpayers $65 to $85 billion, eliminate the unfunded liability and allow public employees who have faithfully contributed to the system to continue to receive pension benefits. For more information, please visit SaveOurState.Illinois.Gov.

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