Economy

Defensive sectors and developing economies set to be key investment focuses

LONDON and NEW YORK, November 12, 2009 — In a recent panel debate on the outlook for global markets in 2010, a team of Newton's global fund managers agreed that a 'traditional' consumer driven cyclical recovery appeared unlikely in the face of continued household debt and high levels of unemployment. High quality defensive stocks and exposure to developing economies emerged as some of the key investment focuses for 2010.    » read more »

November 13, 2009 -- SACRAMENTO, CA – Today, Congresswoman Doris O. Matsui (D-Sacramento) addressed a large crowd of students, faculty and community members at the Sacramento State Alumni Center, covering a variety of federal issues and outlining her priorities of the last year. Rep. Matsui also gave an update on the local impact of the American Recovery and Reinvestment Act, which is making the largest alternative energy investments in our nation’s history, and helping to propel Sacramento as a clean-tech capital. Matsui’s remarks, as prepared for delivery, are below:    » read more »

12 November 2009 -- WASHINGTON, D.C. – In the nine months since the American Recovery and Reinvestment Act was signed into law, rural communities across the country have found the federal bureaucracy is a serious obstacle to their receiving funding. Representative Ann Kirkpatrick is fighting to address this challenge and ensure the Recovery Act works as effectively as possible for our small towns. She is leading a national group of Members of Congress in sending a letter to Vice-President Joe Biden today, asking him to explain what is being done to assist rural America.    » read more »

12 November 2009 -- Washington, D.C.— Today, Congressman Brian Baird (D-WA-03) announced $2.4 million in federal funding is coming to the Cascades Volcano Observatory to improve public safety throughout the Pacific Northwest. The funding will be used to upgrade volcano monitoring systems at the center. This will allow scientists to detect potential eruptions more quickly, and give the public more advance warning of a volcanic event. The money comes from the U.S. Geological Survey as part of the American Recovery and Reinvestment Act (ARRA).    » read more »

November 13, 2009 -- WASHINGTON, D.C. – Assistant Senate Majority Leader Dick Durbin (D-IL) today announced that the Department of Energy (DOE) has awarded a $2,475,900 Energy Efficiency and Conservation Block Grant (EECBG) to McHenry County through the American Recovery and Reinvestment Act to help improve energy efficiency, reduce energy use and fossil fuel emissions, and create jobs locally.

“Creating jobs and securing the future of our planet are two of the aims of the Recovery Act,” said Durbin. “This funding will make a significant investment in the effort to reduce the carbon footprint of residents and businesses in the Chicagoland area, while creating the good-paying jobs that will drive our economy in the years to come.”    » read more »

November 10, 2009 -- OLYMPIA, WA – The National Telecommunications and Information Administration announced that Washington state will receive a grant of approximately $2.2 million to fund broadband mapping and planning activities under the State Broadband Data and Development Grant Program.

The program enables collection of data to show which areas of each state are in the most need of increased broadband infrastructure and adoption. The data collected will be used to create an interactive and searchable map for use by the public with information such as where broadband service is available and at what speeds, and the type of technology used.    » read more »

Recovery Act funds will help save and create over 90 jobs in rural Oregon

Nov. 10, 2009 -- (Salem) – Oregon Governor Ted Kulongoski today announced a $4.89 million federally-funded economic recovery grant from Business Oregon to the Ochoco Lumber Company of John Day. The funding will construct a wood pellet fuel facility, helping support the retention of 80 full-time jobs and creating 11 new ones in the community.

The grant opportunity was made possible by the U.S. Forest Service and funded by the American Recovery and Reinvestment Act (Recovery Act). Malheur National Forest officials worked in conjunction with Business Oregon staff to make the pellet fuel project possible.    » read more »

Additional 35,000 kids on track to register in state health insurance program

November 10, 2009 -- LOUISVILLE, Ky. – Kentucky Governor Steve Beshear joined Congressman John Yarmuth and Mayor Jerry Abramson today to announce that new federal stimulus money will help enroll more children in Jefferson County in the Kentucky Children’s Health Insurance Program (KCHIP). One year ago, Gov. Beshear launched a plan to enroll 35,000 KCHIP-eligible children by summer 2010 – a goal the state expects to meet by the end of 2009, six months ahead of schedule.    » read more »

Honors Veterans at Los Angeles National Cemetery, Issues Proclamation for Veterans Day

11/11/2009 -- Honoring the service of California’s brave servicemen and women, California Governor Arnold Schwarzenegger today visited the Los Angeles National Cemetery, where he spoke at the Veteran’s Day Program. While there he announced that $5 million in American Recovery and Reinvestment Act (Recovery Act) job training grants have been awarded by the California Labor and Workforce Development Agency (LWDA) ensuring that more than 1,400 former members of the military will receive job training, employment and mental health services, as part of the Governor’s continuing veteran’s jobs initiative.    » read more »

November 10, 2009 -- To reduce healthcare-associated infections (HAIs) in stand-alone or same-day surgical centers, the HHS Secretary Kathleen Sebelius today announced the availability of up to $9 million in funding from the American Recovery and Reinvestment Act (ARRA) to state survey agencies in 43 states. HAIs are infections some patients acquire when they are in a health care setting such as a hospital or outpatient clinic.    » read more »

Proposal to Create a Sound Economic Foundation to Grow Jobs, Protect Consumers, Rein in Wall Street, End Too Big to Fail, Prevent Another Financial Crisis

November 10, 2009 -- Today Senate Banking Committee Chairman Chris Dodd (D-CT) was joined by fellow committee members Jack Reed (D-RI), Charles E. Schumer (D-NY), Robert Menendez (D-NJ), Daniel K. Akaka (D-HI), Jon Tester (D-MT), Mark Warner (D-VA), Jeff Merkley (D-OR) and Michael Bennet (D-CO) to unveil a tough, bold bill to reform the way that our financial system is regulated.    » read more »

Cantwell Introduces Legislation to Help Stop Abusive Speculation Practices

November 10,2009 -- WASHINGTON – Today, U.S. Senator Maria Cantwell (D-WA), together with Senators Ron Wyden (D-OR) and Bernie Sanders (I-VT), proposed legislation empowering state gambling regulators and attorneys general to examine unregulated derivatives trading and take appropriate action to protect citizens from practices which can harm the foundations of our economy. As part of a broader effort by Congress to pass comprehensive financial regulatory reform, Cantwell’s proposal treats derivatives trading for what it is: a sophisticated form of gambling.    » read more »

November 10, 2009 -- WASHINGTON, D.C. -- United States Senator Roland W. Burris today announced that $98,351.00 in American Recovery and Reinvestment Act funding from the Centers for Medicare & Medicaid Services (CMS) are being allocated to the State of Illinois to combat and reduce health care associated infections (HAIs). HAIs are infections some patients acquire when they are in a health care setting such as a hospital or outpatient clinic.

Senator Burris and the Democratic-led Congress passed the 2009 American Reinvestment and Recovery Act that was signed into law by President Obama in February.    » read more »

November 9, 2009 -- Secretary of Education Arne Duncan today announced that application requirements for the final $11.5 billion in State Fiscal Stabilization Funds under the American Recovery and Reinvestment Act (ARRA) of 2009 are now available. In exchange for this unprecedented funding boost, the department is asking states to provide some basic information on teacher distribution, the collection and use of data, standards and assessments, and support for struggling schools.    » 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 »