Business

11/10/09 -- Washington, D.C. – Congressman Ron Klein (FL-22) and Senator John Kerry (D-Mass.), a senior member and former Chairman of the Small Business Committee, today announced their introduction of a bill to support small businesses that employ military reservists.

The Small Business and Military Family Assistance Act of 2009 will provide tax incentives for small business employers who make up the salary difference for their reservist employees while they’re serving in Iraq or Afghanistan. While many large businesses can afford to supplement the lower wages reservists earn while in active duty, small business owners struggle to offer the same service.    » read more »

November 9, 2009 -- The U.S. Department of the Treasury today announced that the Capital Assistance Program (CAP) which was set up to provide a mechanism for additional taxpayer support in financial institutions subject to the Supervisory Capital Assessment Program (SCAP) will close today with no investments having been made. Earlier today, the Federal Reserve announced that 18 of the 19 banks participating in the SCAP or "stress tests" were shown to have no additional capital need or have now fulfilled their need in the private market.    » read more »

15,000 entrepreneurs helped by the online business formation process, reflecting 8,587 new businesses formed

November 09, 2009 -- ROANOKE -- Virginia Governor Timothy M. Kaine announced today that Virginia's Business One Stop, an online tool for entrepreneurs, has been utilized by more than 15,000 entrepreneurs to aid their business operations and create jobs. The Business One Stop is an on-going project through the Virginia Department of Business Assistance and began in May 2008 to consolidate business licensing, registration and permitting into one a single user-friendly online system.    » read more »

Energy Efficiency Grants Helping to Cut Energy Costs in Half, Saving $1.8 Million

Nov. 9, 2009 -- Harrisburg – Pennsylvania Governor Edward G. Rendell announced today that 165 small businesses in 43 counties will slash their energy bills nearly in half and save $1.8 million annually in energy related costs with the help of Small Business Energy Efficiency grants from the commonwealth.    » read more »

Community Development Finance Corporation to launch a Surety Bond Guarantee Program

BOSTON – Monday, November 09, 2009 – Delivering on the themes of the Patrick-Murray Administration’s Economic Summit held in October, Massachusetts Governor Deval Patrick today announced that the Administration is partnering with the Massachusetts Community Development Finance Corporation (CDFC) to help small, minority- and women-owned businesses and contractors bid on and participate in federal stimulus-funded construction projects.    » read more »

11/09/2009 -- California Governor Arnold Schwarzenegger today issued a statement after Insurance Commissioner Steve Poizner rejected a second request by the Workers’ Compensation Insurance Bureau to increase the Worker’s Compensation Claims Cost Benchmark which would have negatively affected California’s businesses and employers as the state works to rebuild its economy:    » read more »

11/09/2009 -- California Governor Arnold Schwarzenegger today issued the following statement applauding Pfizer’s announcement to include California in its global research and development (R&D) network:

“California has always been a leader in biotech research and innovation and Pfizer’s announcement that it will establish California as one the five hubs of its worldwide R&D network is fantastic news for our state. Today’s announcement will not only ensure that our state continues as a leader in this growing field, but it will also help stimulate our economy and save and create jobs when we need them most. With the best workforce and most innovative spirit, California continues to be the best place in the world to do business.”    » read more »

ODENSE, Denmark, Nov. 10, 2009 -- The Boeing Company [NYSE: BA] and Odense-based Falck Schmidt Defence Systems A/S today announced that Boeing Research & Technology will assess Falck Schmidt fuel cell products for potential use in Boeing renewable-energy power systems for military platforms.

The announcement followed the signing of a Memorandum of Understanding between the two companies that also points to potential opportunities for the use of Falck Schmidt composite components and materials in Boeing Integrated Defense Systems (IDS) rotorcraft programs.    » read more »

ARMONK, N.Y. - 09 Nov 2009: IBM (NYSE: IBM) has selected five solutions developed within the company for recognition under its new Corporate Environmental Innovation Program, which highlights innovations that significantly improve energy efficiency or reduce environmental impact.

IBM introduced the program earlier this year to highlight the best solutions developed by employees that address energy and environmental challenges for the company and its clients. The goal is to showcase these solutions and encourage other IBM employees to develop new technologies and offerings that address these global issues.    » read more »

Will hire 325 additional bankers to help business owners Demonstrates Chase's support for small business, overall U.S. economy

NEW YORK, November 9, 2009 - Chase announced today that it plans to increase its lending to small businesses by up to $4 billion in 2010, boosting expected new lending to about $10 billion to this vital segment of the U.S. economy.

This will provide businesses with increased access to working capital, term loans for expansion, commercial mortgages, lines of credit, and business credit cards. While the $4 billion in additional credit will be available to qualified businesses with annual sales of less than $20 million, the majority of new loans will be targeted to companies with sales of less than $10 million.    » read more »

Nearly $760 Billion in Credit Extended Since TARP Investment Began

CHARLOTTE, N.C., Nov. 9 -- Today, Bank of America issued its third quarterly Lending & Investing Initiative report, which outlines the company's progress in driving economic recovery through 10 key areas, including lending to consumers and businesses of all sizes, support for municipalities and nonprofits, community development and other initiatives.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b )

The report, which delivers on a commitment to provide greater transparency into the company's lending and investing efforts across the enterprise, demonstrates how Bank of America is using the government's investment in the company to support the U.S. economy.    » read more »

Search for New CEO Underway

November 10, 2009 -- DETROIT – Nick Reilly, GM executive vice president and president, GM International Operations, will immediately assume responsibility for the operations of Opel/Vauxhall Europe while an external search for a new CEO commences, it was announced today.    » read more »

750 families will be positively impacted by the partnership

Chennai, Tamil Nadu, India, Nov. 10, 2009 – As a part of their commitment to women’s empowerment, Walmart and CARE announced the launch of a Cashew Value Chain Initiative. As part of the Walmart Foundation’s $1 million grant to CARE, a leading humanitarian organization, this project marks the first of a series of initiatives to elevate women from poverty worldwide.

Over the next year, Walmart and CARE will create a women owned-and-operated community-based institution to provide more equitable and consistent incomes for approximately 750 women in the cashew farming and processing sector in the coastal districts of Tamil Nadu State in Southern India, Cuddalore and Nagapattinam.    » read more »

"Anti-Competitive and Anti-Consumer"; Criticizes Verizon Wireless plan to double Early Termination Fees for new smart phone customers

November 9, 2009 -- Washington, D.C. – Today, U.S. Senator Amy Klobuchar, who introduced the Cell Phone Consumer Empowerment Act in the 110th Congress, sent a letter to the Verizon Wireless President and CEO Lowell C. McAdam, criticizing the company’s decision to increase its Early Termination Fees (ETFs) for new smart phone customers. Klobuchar also sent a letter to Federal Communications Chairman (FCC) Julius Genachowski, urging a review of the Verizon Wireless decision to raise these fees.    » read more »

John Masiello wins Association of Energy Engineers’ 2009 award

ST. PETERSBURG, Fla. (November 5, 2009) – For his outstanding work in the area of renewable energy, John Masiello, Progress Energy Florida’s director of Demand Side Management, has been internationally recognized as the Association of Energy Engineers’ (AEE) 2009 Renewable Energy Innovator of the Year.    » read more »