On Tuesday, Grand Rapids City Manager Greg Sundstrom will trim as many as 150 of the city's approximate 1,600 employees. It's the largest number of layoffs ever to City Hall. Cuts will affect every department. [www.clipsyndicate.com | WOOD NBC 8 Grand Rapids]
Private and household consumption rebounds in South Korea. (The Trade) [www.clipsyndicate.com | Bloomberg]
South Carolinians could pay more for cigarettes starting next year if a proposed tax is approved. [www.clipsyndicate.com | WYFF NBC 4 Greenville SC]
With unemployment soaring, many find themselves uninsured. So what options are available here in Connecticut? News Channel 8's Jocelyn Maminta went looking for answers. [www.clipsyndicate.com | WTNH ABC 8 New Haven]
Attorney General Richard Blumenthal has called on the General Assembly to ban outdoor wood-burning furnaces because of pollution. [www.clipsyndicate.com | WTNH ABC 8 New Haven]
The state just imposed deposits on bottled water to raise money because they think you'll pay the deposit. [www.clipsyndicate.com | WTNH ABC 8 New Haven]
Dec. 9 (Bloomberg) -- Jack Ablin, chief investment officer at Harris Private Bank, talks with Bloomberg Television about the impact the stimulus plan on the U.S. economy and the outlook for stocks. (This is an excerpt of the full interview. Source: Bloomberg) [www.clipsyndicate.com | Bloomberg]
The maker of a luxury sports car is opening a new facility in the Hill Country. [www.clipsyndicate.com | KXAN NBC 36 Austin]
Critics say a state law designed to protect homeowners from property tax hikes actually backfired. Now the Bernalillo County assessor says she’s trying to make things fairer by limiting tax increases for thousands of people who bought a home in the past nine years. Albuquerque resident Jaci Fischer has been calling mortgage brokers non-stop since she built her work studio in 2007. While getting a permit she had to have her home reassessed. That’s when she got a real shock. “That’s a 40 percent increase in one year,” said Fischer. That’s about $200 more every month in property taxes. “I just look at the phone and think I can’t keep at this. My salary doesn’t keep up at this pace. I may eventually, and right now it doesn’t,” Fischer said. Fischer blames a 2001 law that created what’s called tax lightning. It capped property tax increases at three percent, but there are a few exceptions for new construction, additions on existing homes and sales of existing homes. If you bought a home in Bernalillo County since the law passed, your home would be immediately reassessed to reflect current market values. “If you’re talking about assessed values, they can increase by thousands – tens of thousands at that,” said Ubusaku Abukusumo, CEO of National Tax Company. That means new homeowners could pay double the property taxes than previous owners. But since two district court judges ruled the law to be unconstitutional, Bernalillo County assessor Karen Montoya says she wants to eliminate the part of the law that increases home values when they’re sold. While homeowners won’t be refunded what they’ve already paid, their property tax bills could be cheaper next year. As for people who build additions to their homes like Fischer, Montoya says that issue will have to be addressed at a later date. Eyewitness News 4 also checked in with Valencia County assessor Viola Garcia-Vallejos. She says she will follow the tax lightning law until she hears otherwise from lawmakers. Without the law, she says Valencia County homes could be unde
December is usually a quiet time in the Statehouse, but not this year. An early start to the General Assembly has the hallways buzzing. [www.clipsyndicate.com | WISH CBS 8 Indianapolis]
Dec 9 WX 4pm [www.clipsyndicate.com | WUPW FOX Toledo, OH]
City reports 14.5% drop in sales tax. [www.clipsyndicate.com | KOKI Fox 23 Tulsa]
Local snow plow drivers are excited about the snowfall since it means income for them. [www.clipsyndicate.com | WPTZ NBC 5 Burlington VT]
If it wasn't for the stimulus money, many of the projects would be pushed three to four years down the road. [www.clipsyndicate.com | WTHI CBS 10 Terre Haute]
credit card delinquency [www.clipsyndicate.com | WWLP NBC 22 Springfield M]
02:00
Dunkelberg Says Consumer Key to Small Business Recovery: Video
Dec. 9 (Bloomberg) -- William Dunkelberg, chief economist of the National Federation of Independent Business, talks with Bloomberg's Matt Miller and Carol Massar about the outlook for U.S. small businesses. Confidence among small businesses declined in November to the lowest level in four months, depressed by falling profits and slower sales, a private survey showed. (Source: Bloomberg) [www.clipsyndicate.com | Bloomberg]
Plans are in the works to make Greenwood the sixth largest city in Indiana. [www.clipsyndicate.com | WISH CBS 8 Indianapolis]
Watch company Movado Group (MOV), announced a third quarter loss of 85 cents per share, hurt by non-cash tax charges. On an adjusted basis the company would have earned 12 cents. [www.clipsyndicate.com | Market News Video]
Jackson Hewitt (JTX) reported a quarterly loss of 68 cents per share, as compared to a loss of 78 cents in the same quarter last year. The company, whose revenues are mostly earned only during tax season, is looking ahead to the 2010 tax season which will include the company's first ever online tax preparation product, as well as operations in at least 1,800 Walmart (WMT) stores under an exclusive arrangement with Walmart. [www.clipsyndicate.com | Market News Video]
President Barack Obama has announced new multibillion-dollar stimulus and jobs proposals and says the U.S. must continue to "spend our way out of this recession" until more Americans are back at work. [www.clipsyndicate.com | KRIV FOX 7 Houston, TX]
Bella Vista voters approved a one percent sales tax Tuesday. Most of it will go to support police and fire protection. [www.clipsyndicate.com | KHBS ABC 40 Fort Smith AR]
02:00
BBA's Knight Says Bank Bonus Tax May Put Britain at Risk: Video
Dec. 9 (Bloomberg) -- Angela Knight, chief executive officer of the British Bankers' Association, talks about U.K. Chancellor of the Exchequer Alistair Darling's tax on bank bonuses. Knight, whose association represents 260 financial companies, speaks with Bloomberg's Elliott Gotkine. (Source: Bloomberg) [www.clipsyndicate.com | Bloomberg]
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