Tag: Recession

Gov. Schwarzenegger Signs Legislation for Green Tech Manufacturing Equipment Sales Tax Exemption to Create Jobs

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For Immediate Release:
Wednesday, March 24, 2010

Contact: Aaron McLear/Kira Heinrichs
916-445-4571

Building on his commitment to clean technology growth in California, Governor Arnold Schwarzenegger today signed SB 71 by Senator Alex Padilla (D-Pacoima) to create a sales tax exemption for the purchase of green tech manufacturing equipment in California. This tax exemption is a part of the Governor’s California Jobs Initiative, a legislative package that will create or retain at least 100,000 jobs.
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California Recovery Task Force Launches Interactive Web Portal

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Press Release

For Immediate Release:  03/23/2010

Contact: Aaron McLear/Eric Alborg
916-445-5880

California Recovery Task Force Launches Interactive Web Portal

In an effort to provide unprecedented transparency of stimulus spending in California, the California Recovery Task Force has launched an interactive Web Portal (www.recovery.ca.gov) that tracks the more than $85 billion in cash and tax benefits expected overall for Californians.

“Tracking stimulus money has further underscored the need to break through the silos of government at the federal, state and local levels,” said Senior Advisor to the Governor and California Recovery Task Force Director Herb K. Schultz.  “Our Web Portal will continue to evolve in order to provide the most transparent picture of government spending in U.S. history.”

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SBA Recovery Act Funding Extended

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Extension of SBA Recovery Lending Programs Will Support $1.8 Billion in Small Business Lending

Agency plans to restart Recovery loan approvals on March 10

WASHINGTON – President Barack Obama signed legislation Tuesday extending until March 28 the U.S. Small Business Administration’s ability to provide small business loans that are enhanced with special provisions of the American Recovery and Reinvestment Act (ARRA), including a higher guarantee of SBA-backed loans and a waiver of loan fees normally paid by borrowers.

SBA estimates the additional funding will support about $1.8 billion in small business lending.
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Failing Big Banks? Euthanize ‘Em! | Mother Jones

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It’s a plan Volcker has been pushing since he emerged on the financial-reform scene in the past year or so, and Obama so far seems to be support some kind of bank wind-down process. “You get very aggressive traders, and they’re out there,” Volcker said. “Millions of dollars are at stake, and personal bonuses, so they have a real incentive to take risks, which is fine, if you’re not being protected by the government.”

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John Thain Makes Bold Promise He Most Likely Can’t Keep | Dealbreaker

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This is poetic justice.

John Thain (not in photo) is the former CEO of Merrill Lynch who famously spent millions of dollars redecorating his offices while the firm went down in flames. At left is the office he has sworn not to alter at his new job at CIT Group.

For a man who spent $87,000 on a rug and $1,000 a yard for drapes, this is perfect.

The cardboard cutout in the photo will presumably be removed.

Sweet.

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Find Out Where Your Money Goes! | An Occasional Series

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I hear nonstop bitching from Democrats and Republicans and Independents about where all the bailout (or stimulus) money is going. This is one of those times in life where the more educated about reality you are, the better.

Click here to be taken to a map that shows which banks received TARP money. This is from the government website http://www.financialstability.gov. At whim or random, we will keep putting information from this site out because it’s important stuff. But really, you should become familiar with it so you at least know what the facts are (or ‘facts’ are, depending 0n your political affiliation).

You know how to tell when a politician is lying, right?