Tuesday, June 30, 2009
Partial State Shutdown Soon?!
If state lawmakers fail to pass a new budget by midnight, employees working in 'non-essential' services will be furloughed. This could get very interesting.
Monday, June 29, 2009
Madoff Gets 150 Years!
Multi-billon dollar investment schemer, Bernard Madoff, was sentenced to 150 years this morning. For his victims, however, that is probably still not enough time in prison.
Thursday, June 25, 2009
Attention Chase Card Customers
Those of you with Chase credit cards should be sure to open any and all mail received from the company and read it carefully – don’t dismiss it because it has fine print, looks like junk mail, or whatever the case may be.
Changes in terms are now being mailed to Chase customers, which may have a dramatic effect in how much per month will be required. Borrowers are being told that their minimum monthly payments are going from 2% of the total balance to 5% as of their August 2009 billing cycle. Some, who have had a balance for two years or more on a Chase card, reportedly are going to be assessed a new $10 per month servicing fee too.
No doubt, this will cause considerable cash flow problems for many Americans, who have Chase cards in their wallet. It could be that other large card issuers will follow suit with similar minimum requirements, too, so be sure to open & read mail from all card issuers that you may be doing business with.
Changes in terms are now being mailed to Chase customers, which may have a dramatic effect in how much per month will be required. Borrowers are being told that their minimum monthly payments are going from 2% of the total balance to 5% as of their August 2009 billing cycle. Some, who have had a balance for two years or more on a Chase card, reportedly are going to be assessed a new $10 per month servicing fee too.
No doubt, this will cause considerable cash flow problems for many Americans, who have Chase cards in their wallet. It could be that other large card issuers will follow suit with similar minimum requirements, too, so be sure to open & read mail from all card issuers that you may be doing business with.
Wednesday, June 24, 2009
Unemployment Will Hurt Local Grant Apps?
Greene County's current unemployment rate is high, yet as compared with other Indiana counties, it ranks as the 75th worst unemployment rate. That's according to the data posted the other day on this blog.
And that'll hurt.
Many grant applications ask for unemployment data and stats, and ranking in top 'most employed' counties -- wow, that's hard to believe! -- that'll subtract points for submissions.
And that'll hurt.
Many grant applications ask for unemployment data and stats, and ranking in top 'most employed' counties -- wow, that's hard to believe! -- that'll subtract points for submissions.
Friday, June 19, 2009
Indiana Unemployment Rate Up Again
WISH-TV is showing the Indiana unemployment has risen to 10.6%:
http://www.wishtv.com/dpp/news/indiana/Ind_jobless_rate_percent_in_May_20090619
Greene County ranked 75th with 8.8%.
http://www.wishtv.com/dpp/news/indiana/Ind_jobless_rate_percent_in_May_20090619
Greene County ranked 75th with 8.8%.
Like a Good Neighbor
Interesting little story out of the Evansville Courier Journal printed yesterday:
http://www.courier-journal.com/article/20090618/NEWS02/906180358/
http://www.courier-journal.com/article/20090618/NEWS02/906180358/
Friday, June 12, 2009
Is Muncie Foretelling of What's to Come?
With local funding shortfalls, will our area see consolidations too?
Muncie, Indiana is battling this with fire fighters & stations, but it seems to me that more governmental services could be affected as well. Read this article on Muncie's consolidation plans: http://www.thestarpress.com/article/20090606/NEWS01/906060311
Is Muncie at the forefront of the issues to come here locally soon?
Muncie, Indiana is battling this with fire fighters & stations, but it seems to me that more governmental services could be affected as well. Read this article on Muncie's consolidation plans: http://www.thestarpress.com/article/20090606/NEWS01/906060311
Is Muncie at the forefront of the issues to come here locally soon?
Thursday, June 11, 2009
Halted Chrysler Sale is Restarted
The other day, the Supreme Court lifted the stay on the sale of Chrysler to Fiat, making this a very bad day in history for the Treasurer of Indiana, as well as Indiana teachers, troopers, and others. Here's the document: http://www.scotusblog.com/wp/wp-content/uploads/2009/06/chrysler-order-6-9-09.pdf
Wednesday, June 10, 2009
The Hoosier Lottery
This is a very interesting article on the inner-workings of the Hoosier Lottery:
http://www.thestarpress.com/article/20090607/NEWS06/90607006/1002/rss
What ever happened to funding education?!
http://www.thestarpress.com/article/20090607/NEWS06/90607006/1002/rss
What ever happened to funding education?!
Wednesday, June 3, 2009
Property Tax Bills Will Hit Mailboxes Soon
According to the Greene County Treasurer’s Office earlier today, the county's property tax statements will be placed in the mail next week. Friday, June 26th will be the due date, they said.
Chrysler Sale Affects Teachers, State Troopers, & All Hoosiers
The Indiana State Teachers Retirement Fund, Indiana State Police Pension Trust, and Indiana Major Move Construction stand to lose millions, even as secured creditors of Chrysler. The federal government, using taxpayer-funded TARP monies, is trying to take on higher-priority status than these secured creditors, according to State Treasurer Richard Mourdock.
According to documents, not only are the Feds trying to push the sale of the Chrysler through quickly, but offering these Indiana pension and construction funds only pennies on the dollar to sell the Company’s assets to foreign-owned Fiat.
Here is the Treasurer’s Press Release:
http://www.in.gov/tos/files/TreasurerMourdockObjectiontoChryslerBankruptcy.pdf
Here is Indiana’s court objection:
http://www.in.gov/tos/files/Docket_1185.pdf
According to documents, not only are the Feds trying to push the sale of the Chrysler through quickly, but offering these Indiana pension and construction funds only pennies on the dollar to sell the Company’s assets to foreign-owned Fiat.
Here is the Treasurer’s Press Release:
http://www.in.gov/tos/files/TreasurerMourdockObjectiontoChryslerBankruptcy.pdf
Here is Indiana’s court objection:
http://www.in.gov/tos/files/Docket_1185.pdf
Tuesday, June 2, 2009
Full Text of Governor's Budget Address
The full text of Governor Daniels' Budget Address from yesterday evening:
Good evening, citizens and taxpayers.
As you know, the legislature didn’t pass a budget before they adjourned a month ago. That’s OK, because the one they were working on assumed over a billion dollars of revenue we clearly will never have. So it would have spent way beyond our current means, wiped out our state savings account, and forced a big tax increase. I’d have had to veto it, and we’d be right where we are today.
To their credit, the legislative leadership quickly came up with a good plan for starting fresh, this time with a more believable estimate of how much money we really will have to work with.
Despite the terrible national economy, Indiana remains in vastly better shape than most states, and any of our neighbors. We have over a billion dollars in reserves, and a AAA credit rating. Everywhere else, any reserves are long gone. They are slashing education by as much as 10 to 15 percent; they’re releasing convicts from prison early; and, worst of all when families are struggling, they’re raising taxes. There’s only one reason why we are so different: because we have held government spending down to the level of our income. But if we lose our sense of discipline now, in no time we’ll look just like Michigan, or Illinois, or, heaven forbid, California.
Since my first submission in January, state revenues have slipped even further, an unprecedented 8 percent below last year. When businesses don’t make profits, investors have losses not gains, and people are out of work, earning less and spending less, tax payments plummet.
It’s not pleasant, but it’s reality, so let’s deal with it. I have modified further the tight budget I proposed four months ago, and here are the major points:
Total state spending would be reduced by 2 1/2 percent. Many good ideas will just have to wait. Across state government, nothing, and I mean nothing, goes up. When your income drops by 8 percent, you can’t increase your spending, on anything.
Here’s a sample of the reductions we’re prepared to make (See attached document). Please note that we have already reduced per capita state spending substantially the last four years.
There is only one exception. Public education, as well as student financial aid, would get a significant increase. Every school would receive more per student than it did this year. And if by some happy chance, state revenues turn out better than projected, I’m proposing that one of every two extra dollars go automatically to our schools, with the rest going to our savings account. Let’s hope it happens.
These last couple years, Indiana schools have been among America’s luckiest, fully funded through the downturn while schools in other states were clobbered by massive cuts. Our goal is to keep it that way, although in times this tough no sector has a right to demand business as usual.
As always, I am ready to compromise and cooperate with the legislature, up to a point. I’m willing to see us use about a quarter of our surplus, leaving a billion dollars in reserve, but not a penny less. A billion is a lot of money, but it’s only about 26 days of state operations. If legislators want to spend more on some favorite cause, that’s fine as long as they offset it elsewhere. Add a dollar, cut a dollar. And, of course, no gimmicks, and no tax increases.
Our legislature has done a good job of helping us live within our income these last few years, while other states spent themselves into catastrophe. By working together again, we can protect services, taxpayers, and our pro-jobs business climate, positioning Indiana to lead economic recovery as it begins.
You can help. If you’re a taxpayer, ask your legislators to put the general public interest first, and say no to the special interests who demand money we just don’t have right now. When some lobbyist or legislator promises more spending on some favorite cause or project, ask him “Which of my taxes are you proposing to raise, and why do you want to do that?”
Across America, people are asking how Indiana has kept its head above water while everyone else is drowning. It’s because we’re Hoosiers, of course; we have this quaint custom of not spending money we don’t have. If we keep our common sense now, we’ll get through this very tough patch and come out ahead of other states.
Thanks and good night.
Governor Mitch Daniels
Budget Address
June 1, 2009
Good evening, citizens and taxpayers.
As you know, the legislature didn’t pass a budget before they adjourned a month ago. That’s OK, because the one they were working on assumed over a billion dollars of revenue we clearly will never have. So it would have spent way beyond our current means, wiped out our state savings account, and forced a big tax increase. I’d have had to veto it, and we’d be right where we are today.
To their credit, the legislative leadership quickly came up with a good plan for starting fresh, this time with a more believable estimate of how much money we really will have to work with.
Despite the terrible national economy, Indiana remains in vastly better shape than most states, and any of our neighbors. We have over a billion dollars in reserves, and a AAA credit rating. Everywhere else, any reserves are long gone. They are slashing education by as much as 10 to 15 percent; they’re releasing convicts from prison early; and, worst of all when families are struggling, they’re raising taxes. There’s only one reason why we are so different: because we have held government spending down to the level of our income. But if we lose our sense of discipline now, in no time we’ll look just like Michigan, or Illinois, or, heaven forbid, California.
Since my first submission in January, state revenues have slipped even further, an unprecedented 8 percent below last year. When businesses don’t make profits, investors have losses not gains, and people are out of work, earning less and spending less, tax payments plummet.
It’s not pleasant, but it’s reality, so let’s deal with it. I have modified further the tight budget I proposed four months ago, and here are the major points:
Total state spending would be reduced by 2 1/2 percent. Many good ideas will just have to wait. Across state government, nothing, and I mean nothing, goes up. When your income drops by 8 percent, you can’t increase your spending, on anything.
Here’s a sample of the reductions we’re prepared to make (See attached document). Please note that we have already reduced per capita state spending substantially the last four years.
There is only one exception. Public education, as well as student financial aid, would get a significant increase. Every school would receive more per student than it did this year. And if by some happy chance, state revenues turn out better than projected, I’m proposing that one of every two extra dollars go automatically to our schools, with the rest going to our savings account. Let’s hope it happens.
These last couple years, Indiana schools have been among America’s luckiest, fully funded through the downturn while schools in other states were clobbered by massive cuts. Our goal is to keep it that way, although in times this tough no sector has a right to demand business as usual.
As always, I am ready to compromise and cooperate with the legislature, up to a point. I’m willing to see us use about a quarter of our surplus, leaving a billion dollars in reserve, but not a penny less. A billion is a lot of money, but it’s only about 26 days of state operations. If legislators want to spend more on some favorite cause, that’s fine as long as they offset it elsewhere. Add a dollar, cut a dollar. And, of course, no gimmicks, and no tax increases.
Our legislature has done a good job of helping us live within our income these last few years, while other states spent themselves into catastrophe. By working together again, we can protect services, taxpayers, and our pro-jobs business climate, positioning Indiana to lead economic recovery as it begins.
You can help. If you’re a taxpayer, ask your legislators to put the general public interest first, and say no to the special interests who demand money we just don’t have right now. When some lobbyist or legislator promises more spending on some favorite cause or project, ask him “Which of my taxes are you proposing to raise, and why do you want to do that?”
Across America, people are asking how Indiana has kept its head above water while everyone else is drowning. It’s because we’re Hoosiers, of course; we have this quaint custom of not spending money we don’t have. If we keep our common sense now, we’ll get through this very tough patch and come out ahead of other states.
Thanks and good night.
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