Despite receiving funds from the American Recovery and Reinvestment Act of 2009, state fiscal conditions deteriorated for nearly every state during fiscal 2009, according to the National Governors Association (NGA) and the National Association of State Budget Officers (NASBO). The nationwide shortfall is expected to be $200 billion over the next three years.In the biannual report released today, The Fiscal Survey of States, NGA and NASBO found the economic recession, which began in December 2007, has significantly dampened the outlook for upcoming fiscal years, with more than half of states experiencing negative budget growth in fiscal 2009 and nearly three-quarters recommending fiscal 2010 budgets with negative growth.In fiscal 2009, state general fund expenditures declined 2.2 percent—the first decline in actual state general fund spending since 1983. Likewise, governors’ recommended budgets for fiscal 2010 represent a 2.5 percent decrease in general fund expenditures, which would mark the first time actual state spending declined two years in a row. The weakening of state fiscal conditions means that between fiscal 2009 and 2011, states must fill more than $183.3 billion in budget gaps, after previously closing gaps totaling $46.2 billion. More than three-quarters of states already have cut their enacted fiscal 2009 budgets by $31.6 billion through strategies such as targeted budget reductions and furloughs.Expenditure pressures will continue to grow as the demand for state services such as Medicaid, unemployment and welfare increases in conjunction with growing unemployment. In addition, states must continue to deal with looming long-term issues such as funding pensions, employee health care and maintenance and repair of infrastructure.“States economies lag behind the national economy during economic downturns. Fortunately for states, Congress timed the stimulus package so that some drastic budget cuts and revenue increases in fiscal 2009 were avoided,” said NGA Executive Director Raymond C. Scheppach. “In this past year, governors have worked hard to balance the budget by cutting spending first, while protecting services like Medicaid and education. Unfortunately because of steep declines in state revenues, they cannot rely on cuts alone; states must find new revenue sources for fiscal 2010.”State revenue collections were down 6.1 percent in fiscal 2009, with two states exceeding their original revenue projections, 10 states meeting their projections and 30 states falling below their projections.“Revenues have come in below even the most pessimistic forecasts,” said NASBO Executive Director Scott D. Pattison. “Plunging revenues have caused the unraveling of state budget plans, continuing to force states to make painful decisions.”Total year-end balances—ending balances and the amounts in budget stabilization funds—are resources for states during fiscal downturns and to address budget shortfalls. Following the last recession, states rebuilt year end balances to a peak in 2006 of $69 billion—nearly 11.5 percent of expenditures. Fiscal 2008 balances declined slightly to 9.1 percent of expenditures. However, balance levels have fallen significantly during fiscal 2009 to 5.5 percent of expenditures and are projected to drop to 5.3 percent of expenditures based on governors’ recommended fiscal 2010 budgets.This edition of The Fiscal Survey of States reflects actual fiscal 2008, estimated fiscal 2009 and recommended fiscal 2010 figures. The data were collected during spring 2009.Founded in 1908, the National Governors Association (NGA) is the collective voice of the nation’s governors and one of Washington, D.C.’s most respected public policy organizations. Its members are the governors of the 50 states, three territories and two commonwealths. NGA provides governors and their senior staff members with services that range from representing states on Capitol Hill and before the Administration on key federal issues to developing and implementing innovative solutions to public policy challenges through the NGA Center for Best Practices. For more information, visit www.nga.org(link is external).Founded in 1945, the National Association of State Budget Officers (NASBO) is the instrument through which the states collectively advance stage budget practices. The major functions of the organization consist of research, policy development, education, training, and technical assistance. These are achieved primarily thought NASBO’s publications, membership meetings, and training sessions. Association membership is composed of the heads of state finance departments, the states’ chief budget officers, and their deputies. All other state budget office staff are associate members. NASBO is an independent professional and education association and is also a self-governing affiliate of the National Governors Association.For more information, visit www.nasbo.org(link is external). read more
Longview Power, one of newest U.S. coal plants, files for bankruptcy protection again FacebookTwitterLinkedInEmailPrint分享Platts:Coal plant operator Longview Power LLC’s struggle with weak power demand resulted in its second bankruptcy filing in less than a decade.The company on April 14 announced it has filed a prepackaged reorganization plan, which will transfer the company’s ownership to senior secured lenders. Over 85% in interest of Longview Power’s senior secured lenders support the prepackaged plan, according to a news release.Longview Power is a project-financed entity that operates the 700-MW Longview Power coal-fired power plant in Monongalia County, W.Va. The plant sells its output into the PJM Interconnection.“This filing is unfortunate but necessary given the current depressed power prices, which have further dropped more recently due to the terrible COVID-19 pandemic sweeping the nation and dramatic effects of the pandemic on the economy,” CEO Jeffery Keffer said in the news release.In response to the bankruptcy filing, Fitch Ratings noted that Longview has been one of the agency’s “Top Loans of Concern” since August 2017.Longview Power previously filed for Chapter 11 bankruptcy protection in August 2013, along with coal-mining affiliate Mepco Holdings LLC. Longview Power claimed that ongoing design, construction, equipment defects and failures, and other operational issues left it unable to pay interest on debt used to fund construction of the $2 billion Longview Power project. The power plant was completed in 2011.[Nephele Kirong]More: Longview Power files for Chapter 11, seeks ownership change read more
by: Christina PontissoAll year long credit unions support their younger members by educating them to make smart financial decisions. In order that they may spend, save, budget, borrow wisely in their adult life.This month however, the scale has been raised by credit unions nationwide coming together to promote, recognize, and encourage their youngest members. It’s called ‘Wild About Saving.’CUNA and credit unions have been celebrating ‘Credit Union Youth Month’ by going wild for saving. “The winning theme for 2015 was submitted by Karina Garcia from CFE FCU (Lake Mary, FL). “Youth Month is all about getting children and their parents excited, maybe even a little wild, about savings,” said Garcia. “For the 2015 theme, I suggested ‘Wild About Saving’ because it gives credit unions many opportunities to express their creativity and engage young members.” continue reading » 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr read more
42SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Charlie Amato Charlie Amato is the Chairman and Co-founder of SWBC. With 40 years of experience in all aspects of insurance operations, underwriting, and product development, Charlie is known in the business … Web: www.swbc.com Details It’s hard to believe that we’re officially in November with 2020 at our doorstep. This is the time of year when business leaders and employees alike begin to fall into holiday mode, taking much-needed time off to recharge and spend quality time with friends and family. And, while time off can be well-deserved, it’s important that while we are “on the clock,” we stay engaged, encourage our employees to do the same, and finish the year strong.The last quarter of the year is a time when many businesses and financial institutions are striving to knock out sales goals and quotas for the year, developing strategic plans for 2020, or both. It’s important that your credit union stays focused on serving your members throughout the remaining weeks of this year, giving them the tools they need to meet their financial goals.As the temperature continues to dip down and retail establishments across the nation stock their aisles with gift-wrapping paper and holiday decorations, here are a few things you and your leadership team can do to help your credit union finish the year strong and move into 2020 with a solid start:Take a look backIt’s important to reflect on the progress our businesses have made over the course of the year. Meet with your analysts and product owners to review reports, sales trends, and processes. Schedule annual reviews with employees, vendors, and partners to evaluate how effective your programs have been over the past year. Like the old saying goes, “you don’t know where you’re going until you know where you’ve been.”A few questions you and your leaders can ask yourselves:Are we on track to meet the goals we set at the beginning of the year?If not, what do we need to do to close the gap?Did we solve any of the problems we identified at the beginning of the year?Once you’re able to answer those questions, you’ll know the steps that you need to take in order to improve.Evaluate your resourcesSpeaking of employees, as you’re wrapping up the year, it’s a good time to evaluate your resources—both people and technology. How have your employees performed this year? Are they engaged? Productive? Are your technology solutions efficient and compliant? When it comes to the success or failure of your current processes, both your people and technology resources should be evaluated. People should drive processes, but technology can come in to fill the gaps, providing automation and efficiencies. Evaluating your resources will give you and your stakeholders the information you need to determine if you have what you need to continue to propel your credit union forward.Help your team stay motivatedThere are hundreds of incentives and tactics leaders can deploy to help their teams stay motivated, but no one knows your staff like you do. As the year comes to a close, consider some creative ways to keep your teams motivated to sell and serve through the remainder of the year, helping your credit union to meet or surpass your goals. Since we’re in the season of thanksgiving, it’s important to make sure your staff knows how much you appreciate their efforts throughout the year. If you find that your credit union is falling short on your sales goals, you could consider introducing a holiday-themed sales contest or incentive program. Ultimately, it’s important to lead by example, showing your staff that even though the year is winding down, we all must stay engaged and focused so that we can finish the year strong. read more
In the past, the Samsung Galaxy A02 has been spotted on Geekbench with Android 10 software, 2GB of RAM as well as an octa-core Qualcomm SoC, which is expected to be Snapdragon 450. The phone managed to achieve a single-core score of 746 and a multi-core score of 3,810. It was also later spotted on the Nemko AS certification site.Samsung Galaxy M02 was reportedly spotted on Geekbench with the same model number SM-M025F, and it was listed with 3GB of RAM and an octa-core Qualcomm processor with a base frequency of 1.80GHz. The phone achieved a single-core score of 128 and a multi-core score of 486. It was listed to run on Android 10 out of the box. Just earlier this month, the Samsung Galaxy M02 was spotted on BIS certification site as well. The phone was then reportedly listed to offer dual-SIM functionality.Is this the end of the Samsung Galaxy Note series as we know it? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.- Advertisement – – Advertisement – Samsung Galaxy A02 and Samsung Galaxy M02 have leaked on several occasions in the past and now the two phones have been spotted on Wi-Fi certification site. This hints that Samsung is actively working on new ‘Galaxy A’ and ‘Galaxy M’ series phones. The listing reveals little about the handsets’ specifications or features, but suggests that the launch may not be too far away. The two phones look to be successors of the Samsung Galaxy M01 and Samsung Galaxy A01 phones launched last year.The two rumoured phones — Samsung Galaxy A02 and Samsung Galaxy M02 — have been listed on Wi-Fi Alliance site with model numbers SM-A02F and SM-M02SF/DS, respectively. The Samsung Galaxy A02 and Samsung Galaxy M02 phones are listed to support 2.4GHz Wi-Fi b/g/n and Wi-Fi Direct. The listings went live on the Wi-Fi Alliance site just two days ago on November 11. This suggests that Samsung is actively working on launching the two phones in the near future.- Advertisement – read more
Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.
The cluster came to light as Japan eases restrictions with signs that its second wave of coronavirus infections may be over.Tokyo is expected to lower its warning level as early as Friday, and there has been discussion about loosening restrictions on attendance at sports events.Other professional sports including baseball and football have also allowed limited numbers of spectators at stadiums. Topics : A coronavirus outbreak at a sumo stable in Tokyo has infected 19 people, the governing body said Thursday, adding that a tournament will go ahead this week as planned.The Japan Sumo Association said one wrestler and 18 trainees at the Tamanoi stable have tested positive for the virus, with 12 of those infected sent to hospital.The cases follow the death in May of a 28-year-old sumo after contracting coronavirus, the sport’s first Covid-19 fatality. They were discovered after a trainee became sick last week and tested positive, prompting the stable to test everyone who had been in contact with him, the association said.Of the confirmed cases, 12 have been hospitalized with minor symptoms, while seven others with no symptoms are being isolated at the stable.The entire stable will be barred from the September basho, which starts on Sunday in Tokyo.Sumo cancelled its May basho over the coronavirus but from the July tournament, it allowed limited numbers of fans inside a Tokyo arena. read more
Bahamas National Security Minister Tommy Turnquest said he is unfazed by backlash regarding his recent statements suggesting that judges are too lenient. Photo: Nassau GuardianNASSAU, Bahamas – Bahamas National Security Minister Tommy Turnquest said on Monday he is unfazed by the scorching backlash he has received following his recent statements suggesting that judges have contributed to the crime problem by being too lenient in releasing people charged with serious offences on bail.Turnquest has come under fire from Chief Justice Sir Michael Barnett, who called his comments unfortunate.The Progressive Liberal Party and the Democratic National Alliance have also criticized the minister over the remarks.But Turnquest said on Monday, “I don’t feel that I’m under fire. I feel like what I’m doing is right.“I was elected by the Bahamian people to serve and I intend to serve. The one thing I don’t like is the ‘namby-pamby, wishy-washy’ politicians. You either stand for something or you don’t.”He did not direct his comment to any particular politician.As part of its response to crime, the government intends to introduce three bills to Parliament on October 5 — a bill for a new Bail Act and bills to update the Criminal Procedure Code and the Penal Code.The new Bail Act would restrict the circumstances under which persons accused of committing serious crimes get bail.Turnquest said so far preparations are going well. He said parliamentarians will be given at least a week to review the proposed legislation before the debate gets underway.“One of the things that they’re designed to do is make it easier to keep criminals in prison as opposed to out on bail or getting off on technicalities,” Turnquest said.On Friday, Sir Michael warned that judges will ignore any law that offends the constitution. “I am aware that the government intends to table legislation in the upcoming weeks to deal with the criminal justice system — that’s what the minister of national security said — but at the end of the day it must always be remembered that Parliament is not sovereign,” Sir Michael told The Nassau Guardian.Referring to Turnquest, he said, “I am always concerned when people attack the judiciary because persons have to be careful in what they say, so as not to undermine the public confidence in those of us who serve in judicial office.”Asked on Monday if he wanted to respond to Sir Michael’s comments, Turnquest said, “I’ve said what I had to say.“I don’t wish to say anything else on that score. I accept my responsibility as minister of national security. The government accepts responsibility as government of The Bahamas with responsibility for the 353,000 citizens. We’re going to do our job.“We are accountable to those people. We are going to do what is necessary. We are going to be relentless in the fight against crime to make our country safer.”Turnquest said the government has invested millions of dollars in resourcing the law enforcement agencies. Additionally, he said the government has placed a lot of emphasis on prison reform and particularly on rehabilitative efforts.“In addition to investing millions we want to make ensure that we have the legislative framework in place and criminals do not get an easy ride in our country.“I have a document where we have all of the murder victims in 2011 on one side of the page and the other side we have in some cases who those suspects are.“It would astound you to see the number of criminals known to the police as both victims and suspects.”By Krystel RolleNassau Guardian Staff Reporter Sharing is caring! Share Share 14 Views no discussions Share NewsRegional Bahamas minister stands by criticism of judges by: – September 28, 2011 Tweet read more
Read Also: USA Swimming calls for Tokyo Olympics postponement“Everybody is sending me messages saying they can’t wait to see me and watch the United games. I am very happy about that.”Ighalo is on loan at United from Chinese side Shanghai Shenhua, and he is due to return to them once the season ends.The Nigeria international earns £8k for every goal he scores for United, as well as his eye-watering £180,000-a-week.FacebookTwitterWhatsAppEmail分享 Nigeria’s Odion Ighalo has opened up on his delight at getting a Manchester United shirt as a youngster, but admitted he could not afford to put a name on the back of it.Advertisement The Nigerian forward has been an instant hit at Old Trafford, scoring four goals in his loan spell before the COVID-19 postponements. Many supporters have been drawn to Ighalo due to his affinity towards the club and his hardworking nature on the pitch.The 30-year-old grew up in Nigeria, and he has revealed how his family did not have lots of money, but how excited he was to finally get a United shirt of his own, even if he couldn’t afford to have a name or number printed on the back.“I had a United jersey but no player name on the back,” Ighalo told the United magazine.“It was one of the old blue ones but definitely no name on the back. You have to pay to put names on the back and there was no money to pay for that! I just got the United top.Ighalo is boyhood United fan, but he couldn’t afford to put a name or number on the back his blue strip“It was a blue one but a long time ago. I can’t remember [which season] as I was very, very young.”Going into more detail about growing up as a Red Devils supporter in Nigeria, Ighalo explained how he used to pay to watch games with his family.“It’s good. You have to go to an event centre and pay to watch the games.“Any time United were playing, I’d go with my siblings. You’d have to pay to watch the games and now people are watching me and United. It is a big fanbase and it is growing even bigger. Loading… Promoted ContentThailand’s 10 Most Iconic LandmarksThe New Lara Croft Will Really Surprise YouBest Car Manufacturers In The WorldWhat Happens To Your Brain When You Play Too Much Video Games?Deepika Padukone’s Most Iconic LooksA Hurricane Can Be As Powerful As 10 Atomic Bombs10 Unusual (And Stunning) Human Traits9 Iconic Roles That Got Rejected By World Famous Actors2020 Tattoo Trends: Here’s What You’ll See This YearWho Is The Most Powerful Woman On Earth?6 Incredibly Strange Facts About HurricanesBirds Enjoy Living In A Gallery Space Created For Them read more
Greensburg, Ind. — Six Greensburg residents are behind bars following a drug investigation.A report from the Greensburg Police Department says officers entered a trailer in the 2000 block of Moscow Road Thursday following a 911 call. Two males fled the scene but were quickly captured. Officers found an undisclosed amount of methamphetamine during a search of the trailer.Police arrested Kyle Shields, 33, Sherry West, 42, Dakota Pratt, 28. Micha Roberts, 28, Benjamin Arnett, 30, and Steven Keller, 58.This is an ongoing investigation.