Working closely with trusted lenders

Most payday advance loan options are not only confidential, they’re highly convenient. Consider the following scenario: it is entirely possible you may take approximately three to four minutes to fill out the payday advance loan application online.

After filling out your personal particulars, it can take all of 90 seconds for you to receive a clear and definite reply wherein your loan is subsequently approved. Afterward, your payday advance loan amount may be waiting within your checking account in a couple of hours. What could be more effortless?

Basic requirements in order to secure a payday advance loan

All that is necessary for you to attain a payday advance loan from the vast majority of payday lenders is a bank account and current employment.

In addition, reliable online lending sources that grant payday advance loans generally offer customer support so all your payday advance loan inquiries may be answered.

Laws governing the payday advance loan industry

State governments are responsible for the regulation of the payday advance loan industry. Although opposition exists to short term lending solutions in the way of the payday advance loan, in order to counteract the detracting viewpoints, lobbyists continually work on behalf of the payday advance loan industry.

Fortunately, there is currently a vast array of centers wherein payday advance loan funding is available. The expansive growth within the payday lending industry is due in part to the availability of loans over the Internet. Visits to payday advance loan sites have been quite significant: in fact there were well over 1 million visits to such sites this year.

The Payday Advance Loan site is always available

Payday advance loan sites naturally operate 24 hours, seven days per week. This level of convenience is highly advantageous to the borrower as applications may be submitted from the comfort of one’s own home environment and in accord with a person’s time.

Additionally, the payday loan advance is the short-term money solution as long as it is used correctly. The payday loan advance is most ideal in a situation where you need funds in order to address financial necessities from one payday to the next.

Easy application process

The ease of the application process is possibly the best attribute of the payday advance loan outside of immediate funding to your bank account. The application form is certainly not lengthy or “fussy,” and credit checks  are not necessary. Also, with short-term funding there is no longer any need to worry as to how you are going to financially survive from one paycheck to the next.

In other words, simply provide your information on the short application, and within an hour’s time your current short-term financial concerns may be over. Why not investigate how a payday advance loan will fit into areas where short-term financial considerations are preventing you from progressing within your daily life?

The way, therefore, to think of the payday advance loan and keep out of financial hot water is as a terrific temporary financial solution with regard to short-term financial emergencies. Emergency circumstances may include:

1. Automotive repairs
2. Medical-related situations
3. Gifts for anniversaries or birthdays
4. Unexpected financial losses, among other categories

You’ll not have the headache of filling out a lengthy application (as may be the case with some of the more traditional financial venues) and you’ll be able to secure the needed cash confidently and securely.

Additionally, if you are seeking a short-term loan by confidential means, nothing could be more ideal than the resource of the Internet. Many lenders who provide the payday advance loan as a solution for a borrower’s short-term financial obligations are standing by, willing and ready to serve you, 24 hours per day; seven days per week.

APPLY HERE for a Payday Advance Loan

Image from TC Project.

Southern California’s hot, dry climate is a perfect support system for fires, so it is understandable that the state spares no expense when it comes to fighting them. Today when it was reported that several small brush fires were started along a highway in Diamond Bar, the Los Angeles County Fire Department sent out more than 250 firefighters, and dispatched trucks as well as aircraft to battle the blazes.

A member of the L.A. County Fire Department reports that there were eight brush fires, and about 50 acres were consumed. Firefighters worked swiftly and aggressively, as the fires threatened to spread to homes if they weren’t contained.

How the Diamond Bar fire started

The driver and passenger of a pickup truck might want to think of getting some quick loans so they can get a lawyer. Police are reporting that the fires were caused when a fire started in the bed of a pickup truck and the occupants didn’t realize it.

Reports say flames and sparks flew out of the pickup truck bed as the vehicle traveled on the freeway. The police have detained the driver and passenger from the vehicle, but no other information is available about the suspects right now.

More details on Diamond Bar fire

Not only did the fire department spend a lot of money putting out these fires, classes were evacuated at Diamond Ranch High School. The students stayed in the gym and waited for word on whether they had to evacuate the premises, but the flames never got close enough to the school to warrant concern.

Final word is that several small brush fires were put out using water drops from helicopters and the aid of 23 fire trucks. The people who were in the truck that is suspected of starting the fires are being questioned. So far, no property has been reported damaged besides government-owned land covered in brush.

Here's the Brammo Enertia. But will it be street legal? (Photo: theelectricbliss.wordpress.com)

If I had $12,000 to spare, I’d jump at the chance to buy a Brammo Enertia electric motorcycle. Sure, I’d need quick loans to help pay (will Best Buy finance autos and accept down payments?), but considering that there’s a Best Buy only a couple of miles from my home, I wouldn’t be able to resist.

But Could I Legally Drive it Home?

That’s just one of the questions these days: whether the Brammo Enertia will be street legal. The initial claim made is yes, but I’d check with local police before buying. Yet that won’t stop the consumer electronics giant from selling the vehicles from the Ashland, Oregon startup by May 2010. Best Buy CEO Craig Bramscher sees the Brammo Enertia being sold across the U.S., Europe and China at Best Buy retail locations.

Computers, Vacuums, Motorcycles…

It might sound odd, but that’s the direction in which Best Buy is headed. Since the stores already have garage bays for installing car stereo equipment that Bramscher claims are “underutilized,” it seems like the Brammo Enertia could be a good fit. Plus, when you realize that Brammo is considering features like a built-in Web server and cameras to capture images and video for travel blogs, the Brammo Enertia should perhaps be considered more of a mobile consumer appliance than strictly a motorcycle.

Not Alone in the Electric Two-Wheeler Market

Vectrix and Zero Motorcycles have similar consumer models available, while Mission Motors is taken an even higher-end approach. But the high-visibility approach Brammo is taking by allying itself with Best Buy is something the competition has not done as yet. To give you an idea of how much selling out of Best Buy could help Brammo, consider that about seven million people go to motorcycle distributors in the U.S. each year. A single Best Buy store can see that many people over the same span of time. Bramscher says the chain has already taken $3 million in pre orders for the Brammo Enertia, and that’s only the beginning.

Will the Geek Squad Fix Your Ride?

Apparently they will. Geek Squad types will be trained to make basic Brammo Enertia repairs to brakes, tires and electronics. If you get into a wreck, however, you’ll have to go to a Brammo distribution center for those fixes. Unfortunately, the company is still working on obtaining funding for those. Quick loans, anyone?

What’s Under the Hood?

The Brammo Enertia will have a 45-mile range. Powered by a lithium-ion-phosphate battery that takes around three hours for a complete charge from a standard household outlet, the maximum speed of the Brammo Enertia should be around 53 miles per hour.

All things considered, this should be OK for those of us who need to perform light errands or commuting. If you want to do more and travel faster, a 100-mile ranged model that can hit 75 miles per hour will come out later in 2010. You’ll probably need multiple quick loans for that one. But then again, if you’re seriously considering buying a Brammo Enertia, you probably have enough petty cash to cover.

Related Video:

If you think fast loans and quick loans are stigmatized, you don’t know the meaning of the word. Mental illness is truly stigmatized by society. It’s understood that the afflicted is ill in some way, but the general level of discomfort on the part of others, as well as their tendency to write the person off as “crazy,” proves that the level of acceptance of the mentally ill is still extremely low in America.

Sometimes even those suffering from a mental illness are unaware of exactly what’s going on. They may think their behavior is normal, but the excesses – the highs and/or lows – may push them to the margins of their society. Or they may know something is wrong, but either not want to seek treatment and lose their spark behind a medicine haze or not know that treatment is available for their condition. Overall, I’m sure it’s a difficult place to be.

According to his MySpace blog, stand-up comedian and actor Michael “Chicken” Roof believed he had a mental illness. Now he is dead, and the family of stand-up comedy will miss him dearly.

Enter the Chicken

In its tribute to the man, The Comic’s Comic blog writes that Michael Roof (aka “Chicken”), 32, co-starred in the two Vin Diesel “XXX” movies, “Black Hawk Down” and “The Dukes of Hazzard” movie. According to “two knowledgeable sources,” Comic’s Comic learned that Roof may have taken his own life. Not long after, friends of Roof began to offer their condolences and and good memories on the departed’s MySpace page. Funeral services are being planned in Roof’s hometown of Dunnellon, Florida this upcoming weekend. Comic’s Comic even encourages those who know more details about what happened to contact him at thecomicscomic (AT) gmail.com.

Here’s what Comic’s Comic knows about Michael Roof. He was married and had three children. The nickname “Chicken” came from his college days, and it stuck when he began his stand-up comedy career in Atlanta, Georgia. After success at the Montreal Just For Laughs Festival, he got his break in TV with the WB sketch show “Hype.” However, it was as a dramatic actor that he received the most popular attention. He drew roles in movies like “Black Hawk Down,” two of the “XXX” franchise and “The Dukes of Hazzard.”

Then, as fame so often does, Roof took a detour into reality television. However, “Raising the Roofs” (which ran on Spike in 2006) did occasionally manage to serve as a platform for Chicken’s brand of comedy.

Stalled since then

Comedy clubs were still booking him, but the big time seemed to elude Michael Roof. His blog posts on MySpace began to indicate that something was definitely wrong. Here’s an entry from April 14, 2009 that Comic’s Comic picks up on. It could easily be interpreted as a warning sign, one that more people in this society should pay attention to. If nothing else, it seems likely that Roof would want people to know that these things shouldn’t be taken lightly when a life can be saved:

Ok I am sitting here trying to piece together exactly what is going through my mind and what is a thought that i have forced into my mind. what popped in there on its own and what did I force there? I think i have a social disorder and several mental disorders that i need o realize that are real and just not a word given to you because of symptoms. I guess symptoms point to one word or another but aren’t all people different. hmmmmmmm
practicing medicine is just that, practicing medicine…even with psychiatry. what combination of pills will ultimately keep us all from jumping. I went on the road in march and have had an experience now on the road. I truly don’t know if I like it. that s***s. I can do it…..but i don’t truly know if I want to do it. what else will i do if i do not do this? shit I don’t know. i am mean, moody and unpredictable right now and I guess that is supposed to be a comedian…..f*** that. I have turned bitter towards it because i am not young and naive like I was when i started. I know where it leads and I know what comes from the work you put in. More roadwork, more money, films and television. sounds cool huh? the movie part is cool….that’s about it. Even that blows the sausage some time. but ok I don’t think I could ever get tired of films. but(f*** capitalization and form right now. not so easy to get films. especially when everyone that works for you thinks you are unpredictable and will disappear for years at a time. (I do though) there has got to be something else interesting on this earth for me to do….something…sh**. I have to find it. anyone have any career ideas or options for me. I am taking advice from all as long as they are serious about it. oh well, know one will read this anyway. I am a flake

Worried about a friend? Check up on them.

Here’s what Comic’s Comic reader Jaime said about Michael Roof:

Michael had been working every now and again in recent months at my club, The Punchline, in Atlanta. He was just as dynamic on stage as ever and we are all terribly saddened by his death.

I guess it is a good reminder for all of us that we are only sometimes seeing a snippet of a person’s life as we see them at the club or pass by on the road. If you suspect someone is in trouble, maybe it’s worth a moment to ask if they really are. I wish I had.

Michael Roof thought he was a flake, but he clearly could have used some help. If you need help, please don’t hesitate. Consult with a mental health professional. At the very least, if such help is generally out of your price, find a counselor who works at a clinic that works on a sliding scale. Fast loans and quick loans are also an option with something as important as your life.

Related Video:

The 2009 NBA Draft Lottery has come and gone, which means that the 2009 NBA Draft is not far behind. For basketball fans, this is akin to fantasy land. Nobody knows exactly how the best college, high school and foreign players are going to perform in the National Basketball League, but it’s still fun to dream of what might be.

For teams in need of improvement, could that new player be the piece that completes the puzzle? Die hard fans will take out payday loans to see teams like that. For established teams that are looking for young blood off the bench, the 2009 NBA Draft is filled with quick loans. I say “loans” because the player will eventually be eligible for free agency, of course. But until that happens, the 2009 NBA Draft order is the stuff dreams are made of.

Your 2009 NBA Draft Lottery results

Chad Ford blogs for ESPN.com that the first pick in the NBA Draft will be a selection by the Los Angeles Clippers. The 2009 NBA Draft order as represented here is definite. The players selected could change, but in Ford’s opinion, what follows is the direction each team will go with their first round pick. In Ford’s estimation, this rendition of the NBA Draft, now in its 25th year, is the Blake Griffin sweepstakes. He appears to be the best player available and a likely number one pick, even if the Clippers trade the number one pick for more players (which they are unlikely to do).

Keep in mind that this is an educated guess on Ford’s part. All teams will be performing their own evaluations of the players available from college, high school and other countries. Depending upon what they find, the 2009 NBA Draft projections can change. They can also change if complications arise which change teams’ personnel needs. Remember, injuries can set back a team, as can players with legal difficulties. Players can go from a sure thing to working a steady 9 to 5 and needing payday loans and quick loans now and then. It’s hard to predict how the 2009 NBA Draft order will translate.

The 2009 NBA Draft order, plus player analysis

Blake Griffin

You’ll have to wait until June to see exactly how the 2009 NBA Draft will play out, but Chris Ford has some sagacious insight into all 30 of the first round selections. Without further ado, let’s get started. I’ve included my own commentary on each to boot.

For those of you who are unfamiliar with the abbreviations for positions on the basketball court, they are as follows:

PF = power forward
SF = small forward
C = center
PG = point guard
SG = scoring guard

1. L.A. Clippers – Blake Griffin, Oklahoma. Position: PF, Height: 6-foot-10, Weight: 245 pounds, Age: 20. Any team would be happy to take the explosive, mobile big man in the draft. He is a relentless worker who puts in an honest night’s work on the boards and will nail the turnaround jumper with regularity. Griffin can even handle the ball. If the Clippers can sort out their big contract issues with current power forward Zack Randolph (who isn’t as good as Griffin), this will be a shoo-in. As to whether Griffin will want to stay with the B-team in L.A. is another matter.
2. Memphis  Grizzlies – Hasheem Thabeet, Connecticut. Position: C, Height: 7-3, Weight: 265, Age: 22. Going all the way back to their first draft selection as an expansion team in Vancouver (when they took Bryant “Big Country” Reeves), the Grizzlies have been looking for an effective center.  They’re still looking. Marc Gasol is an up-and-comer, but Hasheem Thabeet could be the defense-minded stopper on the front line that Memphis wants. It remains to be seen how his offensive skill will translate to the NBA.
3. Oklahoma City Thunder – Ricky Rubio, Spain. Position: PG, Height: 6-4, Weight: 180, Age: 18. Selecting foreign players has traditionally come with additional risk, although not so much as selecting players out of high school. European players may be more emotionally mature due to the extra years of experience, but they generally do not play in systems that approximate the NBA game. In general, foreign leagues are less physical and not quite as fast-paced. Oklahoma sees Rubio as the best point available, which boggles my mind, as I saw North Carolina’s Ty Lawson in the 2009 NCAA Tournament. Considering that Rubio is not projected as a great shooter, his leadership, passing and defensive skills would have to be extraordinary to justify this pick.
4. Sacramento Kings – Jordan Hill, Arizona. Position: PF, Height: 6-9, Weight: 235, Age: 21. What a blow for the hapless Kings. They could have really used Blake Griffin in the middle, but such was the bounce of the 2009 NBA Draft ping pong balls. Hill would bring toughness and a needed spark to this listless team, put their biggest need has been point guard ever since Mike Bibby left for the Atlanta Hawks. Ford predicts that if the Kings for a point guard, Jrue Holiday will go here.
5. Washington Wizards – James Harden, Arizona State. Position: SG, Height: 6-4, Weight: 215, Age: 19. Harden is considered to be “one of the most NBA-ready players in the draft.” Considering how much Washington loves to run with Gilbert Arenas, this active body who can make teams pay for doubling the high-scoring Arenas.
6. Minnesota Timberwolves – DeMar DeRozan, USC. Position: SG, Height: 6-6, Weight: 200, Age: 19. Due to injury, the jury’s still out on whether Corey Brewer will be the TWolves’ small forward answer. DeRozan has lots of upside and can swing between the frontcourt and the backcourt. DeRozan can run and jump like nobody’s business. Minnesota fans will appreciate his in high gear.
7. Golden State Warriors – Brandon Jennings, Italy. Position: PG, Height: 6-2, Weight: 165, Age: 19. Here’s a guard with all the tools, but he’s still a bit raw. This is a risky proposition for Golden State. I have to wonder why they wouldn’t consider Lawson, among others on the board.
8. New York Knicks – Stephen Curry, Davidson. Position: PG, Height: 6-3, Weight: 185, Age: 21. Run-and-gun is the way the Knicks like to play it, and they haven’t had a player with this kind of a pure jump shot since Allan Houston, who was one of the best ever. I love to watch a player who can shoot the ball from distance like silk.
9. Toronto Raptors – Tyreke Evans, Memphis. Position: SG, Height: 6-6, Weight: 220, Age: 19. Memphis has made their mark in the NCAA lately with a horde of highly athletic players. Evans is no exception. He can get to the hole and finish strong. Considering that Toronto could lose depth in the backcourt due to free agency, this could be a great pick for them.
10. Milwaukee Bucks – Jrue Holiday, UCLA. Position: PG, Height: 6-4, Weight: 200, Age: 18. Do the Bucks go with a power forward or fill the point with the defense-minded Holiday? Ford thinks Holiday and his upside will carry this pick.
11. New Jersey Nets – James Johnson, Wake Forest. Position: PF, Height: 6-9, Weight: 245, Age: 22. The Nets lack wide bodies in the paint, and Johnson would do nicely at 11. DeJuan Blair is another possibility, but Johnson gets the nod because his athleticism enables him to do more on the floor.
12. Charlotte Bobcats – Gerald Henderson, Duke. Position: SG, Height: 6-4, Weight: 215, Age: 21. A strong defender with a streaky offensive game that is frequently lights-out, Henderson would fill a definite need at two-guard in Charlotte.
13. Indiana Pacers – Jonny Flynn, Syracuse. Position: PG, Height: 6-0, Weight: 175, Age: 20. While Indiana could use an athletic big man, it’s unlikely a top-tier one will be available at this point, so they’ll go with plan B. They could lose Jarrett Jack to free agency, so a hole would open at the point that Flynn could fill. He has the confident attitude you look for in a team leader, plus he is explosive. If he improves his jumper, he could be a great one.
14. Phoenix Suns – Earl Clark, Louisville. Position: SF, Height: 6-9,Weight: 200, Age: 21. While some scouts question his desire, nobody questions Clark’s athleticism. This young man and jump out of the gym and is improving his mid-range game.
15. Detroit Pistons – Austin Daye, Gonzaga. Position: SF, Height: 6-10, Weight: 190, Age: 20. Daye could be the most talented player left on the board at this point, but after having seen him play tenative when it counted for most of his Gonzaga career, I don’t get it. He has height, long arms, quickness and a decent touch on the outside shot, but he will be pounded into submission in the NBA game. Pound the protein shakes, young man!
    

    Austin Daye

16. Chicago Bulls – DeJuan Blair, Pittsburgh. Position: PF, Height: 6-7, Weight: 250, Age: 20. Chicago already has athletic, long and spunky on their front line. This man would bring the bulk to enforce their will in the lane. I hope his arms are long enough, though, or we could have another Clarence Weatherspoon on our hands.
17. Philadelphia 76ers – Eric Maynor, VCU. Position: PG, Height: 6-3, Weight: 175, Age: 21. Ford thinks Maynor would be the total package for Philly at point guard, which they’ll need when Andre Miller leaves. I haven’t seen him play, but once again… where is Ty Lawson?
18. Minnesota Timberwolves (via Miami Heat) – B.J. Mullens, Ohio State. Position: C, Height: 7-1, Weight: 260, Age: 20. Big men are frequently considered “projects,” because coordination, stamina and a big frame don’t always walk hand-in-hand. ESPN has love for Mullens, though, so this one could pay off.
19. Atlanta Hawks – Jeff Teague, Wake Forest. Position: PG, Height: 6-2, Weight: 180, Age: 20. Chris Paul and Rajon Rondo have both escaped in previous years. Now the Hawks need to nail their point guard pick, as Doc Rivers is not giving up his job as Celtics head coach to return to the court. He’s too old. Teague is waterbug-quick and has a nose for finding the hole.
20. Utah Jazz – Tyler Hansbrough, North Carolina. Position: PF, Height: 6-9, Weight: 250, Age: 23. Hansbrough is a warrior who battles for every point and rebound. He has the size and the quickness to make defenses pay. Furthermore, having remained at North Carolina another year for that championship season won’t hurt in the experience/maturity department. Jazz coach Jerry Sloan is the definition of “hard-nosed,” and I think Hansbrough is his kind of guy.
21. New Orleans Hornets – Terrence Williams, Louisville. Position: SG, Height: 6-6, Weight: 220, Age: 21. Size, athleticism and mad skills and there, but Williams has been inconsistent in putting it all together. New Orleans sees him as a risk worth taking, and he could even back up CP3 (Chris Paul) at the point on occasion.
22. Dallas Mavericks – Ty Lawson, North Carolina. Position: PG, Height: 5-11, Weight: 195, Age: 21. Here’s a classic point guard with great speed, a sparking outside touch and championship pressure experience. What’s not to like? I’m baffled that Ford thinks he’ll fall this far.
23. Sacramento Kings (via Houston Rockets) – Nick Calathes, Florida. Position: PG, Height: 6-5, Weight: 185, Age: 20. The Kings need lots of help at every position, and Calathes could bring quickness and a developing offensive game to their backcourt.
24. Portland Trailblazers – Darren Collison, UCLA. Position: PG, Height: 6-1, Weight: 165, Age: 21. Portland hasn’t had a good point guard since Terry Porter. That was a long time ago. Collison could bring them everything Porter offered, except perhaps the consistency from behind the arc. And that kind of thing can come with practice, so we’ll see.
25. Oklahoma City Thunder (via San Antonio Spurs) – Gani Lawal, Georgia Tech. Position: PF, Height: 6-9, Weight: 220, Age: 19. No more good, true centers left at this point, so Oklahoma will go for the athletic talent and board-banging of Lawal.
26. Chicago Bulls (via Denver Nuggets) – Toney Douglas, Florida State. Position: SG, Height: 6-2, Weight: 205, Age: 23. This could be the poor man’s version of Ben Gordon, but not that poor. As Gordon will likely leave via free agency, Douglas will help out with his explosiveness and solid jump shot.
27. Memphis Grizzlies (via Orlando Magic) – Chase Budinger, Arizona. Position: SG, Height: 6-7, Weight: 205, Age: 21. Remember Mike Miller? He did well for the Grizzlies, and Budinger could be a similar type player who can move and spread the floor with his passes and outside shot. Is he tough enough for the NBA. That’s what Ford wants to know.
    

    Chase Budinger

28. Minnesota Timberwolves (via Boston Celtics) – Patrick Mills, St. Mary’s (CA). Position: PG, Height: 5-11, Weight: 175, Age: 20.  A quick point who sees the floor well, Mills will need some seasoning before he’s ready to take over.
29. L.A. Lakers – DaJuan Summers, Georgetown. Position: SF, Height: 6-8, Weight: 225, Age: 21. An NBA-ready athlete who can score, Summers will be needed to fill the holes left by the inevitable departures of players like Lamar Odom.
30. Cleveland Cavaliers – Sam Young, Pittsburgh. Position: SF, Height: 6-6, Weight: 215, Age: 24. Scoring and defense are both parts of Young’s game, and he starred at Pittsburgh. Playing alongside the great LeBron James, this young man could benefit from lots of open looks that the established superstar will create with his magic on the floor.

So there you have it. I think that Ford is mostly spot on with his 2009 NBA Draft order, save for his point guard order of selection.  If I could win payday loans and quick loans for each insight I get right here, I’ll share some of it with Mr. Ford. No, wait. I need the money more than he does…

Related Video:

United Technologies Research Center

United Technologies Corp., maker of Otis elevators and Carrier air conditioners, says it will slash 11,600 jobs worldwide. The company is struggling with lower sales and profits.

Chief Executive Officer of United Technologies Louis Chenevert says the company had been expecting an economic recovery during the second part of this year. Now, Chenevert says that recovery “appears unlikely.”

Company is losing billions

United Technologies’ sales are down $2.7 billion from what it forecast in December. The company serves markets all over the world.With recessions going strong in Europe and other parts of the world, the company is preparing for more declines in profits and sales.

Restructuring begins

Chenevert says the job cuts and other changes the company is making are part of a restructuring. United Technologies is ultimately preparing for economic recovery, the CEO says.

“We’ll fundamentally reorganize United Technologies so when markets recover this cost structure will not come back,” Chenevert said, referring to the companies’ stocks losing value.

Economists doubt stimulus

In more bad news on the job front, economists released a report today saying they do not think the government’s economic stimulus package will create or save 4 million jobs over the next two years.

The report was created by four economists, including including Mark Zandi of Moody’s, who has been an adviser to both Democrats and Republicans. The group says the $787 billion stimulus package will save or create 2.5 million jobs in the next two years.

Word from the inside

Nancy Pelosi

Speaker of the House Nancy Pelosi, a Democrat, says she believes that it will take a long time to recover from what she refers to as “the Bush economy.” She didn’t refute any of the claims in the economists’ report.

Other Democrats have hinted that even more quick loans might be needed before the economy is truly on its way to recovery.

Obama takes on yet another massive challenge.

President Barack Obama is heading up a major overhaul of the nation’s financial system and has also promised huge changes in the health care system. Now he is taking on another huge, nationwide system: education.

Obama says the nation’s education system needs a far-reaching overhaul and it can’t wait, despite the urgency of the financial crisis and other pressing issues, according to the Associated Press.

Obama backs merit-based pay

Among the other changes Obama is pushing for, he is encouraging that teachers receive merit-based pay. This statement will no doubt be very unpopular with a large faction within the Democratic Party: teachers unions.

Teachers unions have long been opposed to merit-based pay, instead encouraging equal pay for teachers based on number of years in the field. Obama says merit-based pay will improve education.

“Too many supporters of my party have resisted the idea of rewarding excellence in teaching with extra pay, even though we know it can make a difference in the classroom,” he said.

Early education

Obama also believes government money will be well spent if it is invested in early education. About $5 billion in the stimulus package is slated for growing Head Start, expanding access to child care and helping children with special needs. He insists quick loans should be given to these programs to improve them.

More goals

He also stressed the importance of adopting higher standards that are more on par with global standards. He says he will put forth efforts to reduce high school dropout rates. he reissued his call for every American to dedicate at least one year to higher education and to put the United States back in the top spot when it comes to number of residents with college degrees.

He also advocates that states remove caps on the number of charter schools allowed within their borders.

Unionized workers at Ford voted on changes to their contract, including cutting cost-of-living increases, reducing benefits and eliminating cash bonuses.

The company says the move will help it to stay competitive. According to the UAW, 59 percent of production workers and 58 percent of skilled-trades workers voted “yes,” and the new contract passed.

No government loans

General Motors and Chrysler have both asked the government for quick loans to help their companies stay  afloat. Ford says these changes will prevent the company from having to ask the government for money as well.

“By working together with our UAW partners, we identified solutions that will help Ford reach competitive parity with foreign-owned auto manufacturers and that are important to our efforts to operate through the current economic environment without accessing a bridge loan from the U.S. government,” said UAW President Ron Gettelfinger in a written statement.

More contract details

The ratified deal ended the jobs bank program, and it now allows Ford to make payments in stock to a retirement fund. The fund will extend health benefits to retired workers.

Now the UAW must attempt to reach a deal with both Chrysler and GM.

Making an example

The deal UAW reached with Ford will serve as a guideline for deals with GM and Chrysler. In the agreements reached with the government over more than $17 billion in loans, it specifies that the companies must work out new agreements with the union.

The companies are seeking more funding from the government. In order to get it, Chrysler and GM have to bring their labor costs in down to the same level as foreign auto companies’ plants in the U.S.

Under terms of their loan agreements, progress must be made by March 31. The companies are seeking an additional $21.6 billion in government aid.

Delta headquarters

As fuel prices fluctuate and demand for plane tickets decreases, Delta Air Lines is feeling the pinch of the recession. The company says it will eliminate 10 percent of its international flights to save money.

Delta says its Atlantic and Pacific networks have the weakest revenue, so the flights will be cut from there. Unlike the auto industry, the airline won’t be asking the government for quick loans.

Cuts on top of cuts

Because Delta has already made some cuts, its trans-Atlantic capacity this winter will be down 11 to 13 percent compared to winter 2008. Its trans-Pacific capacity will be down 12 to 14 percent.

Delta is the largest carrier in the world. It had previously said it would cut its capacity this year by 6 to 8 percent. The company’s CEO and its president released the memo to the staff  announcing the additional cuts today.

Company faces staff cuts

Because of the reduced flights, the company says it must “reassess its staffing needs.” The memo today said that Delta expects 2,100 to leave the company voluntarily over the next several months. However, it’s possible that won’t be enough.

One bright spot

The only increase the company expects to see over the next year is in the amount of flights to Latin America. Delta expects sales on those flights to be up slightly this winter.

Travel demand down

Other airlines have also struggled with the decreased demand for travel. U.S. Airways has started charging for pillows and blankets, although it threw out its policy of charging for in-flight beverages and snacks because of backlash from customers. One airline in the U.K., Ryanair, even contemplated charging passengers to use the bathroom on the plane.

U.S. Rep. Barney Frank on Monday said (see http://abcnews.go.com/Business/Economy/WireStory?id=7040710&page=2) Bank of America Corp. must provide more details on $6.9 billion in bonuses the company paid in 2008. Because the bank got quick loans from the government, officials say it must disclose who got what.

Bank of America accepted large amounts of bailout money, and Frank and others are saying taxpayers have a right to know the details of how the company is using its money.

Ordered to the court

New York Attorney General Andrew Cuomo has headed the fight to reveal the details behind the bonuses. The case wound up in state court. A representative for Bank of America said to the judge that the company would suffer “grave harm” if it had to reveal bonus data.  Bank of America said it would be an invasion of privacy, and it was worried that competitors would attempt to poach its staff members.

No longer a company

Bank of America bought Merrill Lynch last year as the company faced bankruptcy. Of the bonuses now on Bank of America’s budget sheets, $3.6 billion was awarded to Merrill Lynch executives before Bank of America bought out the company.

House Financial Services Committee Chairman Frank says the company must provide details on every bonus of $1 million or more. Bank of America has gotten $45 billion from the Troubled Asset Relief Fund.

Transparency

Barney Frank

Cuomo has been charged with assuring that all institutions that accept bailout money disclose their finances and make all bonuses and salaries public.

Cuomo is even trying to find out whether B of A broke securities law regarding public disclosure of executive pay. A New York state judge will hold a hearing March 13 to determine whether the company must disclose the information.

Welcome to part three of our review of the Employment Policies Institute’s (EPI) report “Rotten ACORN: America’s Bad Seed.” Click here if you missed parts ONE or TWO.

ACORN is registered as a non-profit corporation out of Arkansas, a state that does not require public disclosure of corporate operating budgets. However, estimates of ACORN’s annual operating budget range from $30 million to $37.5 million, depending upon the source. The New York Times acknowledges that even these figures do not include the “vast resources of the ACORN-run unions or reflect election-year resources given to its ostensibly non-partisan get-out-the-vote efforts.”

Yet they stiff their employees

Here are just a few examples of where the money goes with ACORN, courtesy of EPI research. Note that in all cases, the money is kept in house. They could make quick loans outside the circle if they chose to, which they don’t. One organization pays the other under the ACORN umbrella, and it all comes back to Wade Rathke:

• SEIU Local 100’s Department of Labor financial disclosure for the year 2000 showed a $58,654 grant of union members’ money to another labor group called Hospitality, Hotel & Restaurant Organizing Council (HOTROC), which was also founded by Wade Rathke
• ACORN paid Citizens Consulting, Inc. (which is run by Dale Rathke) $520,000 for lobbying between 1998 and 2004
• Department of Labor financial disclosures show at least $623,829 in transactions between ACORN’s SEIU locals 100 and 880 and other Rathke/ACORN-run operations
• From 2000 through 2003, Project Vote paid more than $1.7 million to ACORN and Citizens Consulting
• Between 1997 and 2003, the Mutual Housing Association of New York paid more than $2.1 million in contractual fees to the New York ACORN Housing Association
• Mott Haven ACORN Housing Development Fund Corporation paid more than $233,360 in contractual fees to the New York ACORN Housing Company. At the same time, Mott Haven owed as much as $435,000 to the Mutual Housing Association of New York
• The Association for Rights of Citizens, which carries brother Wade and Cornelia Rathke on its board of directors, loaned tens of thousands of dollars to SEIU Local 100, ACORN’s Missouri Tax Justice Research Project, and ACORN, and has made grants totaling tens of thousands of dollars to ACORN
• ACORN’s Agape Broadcasting Foundation showed notes and loans receivable of more than $100,000 from other ACORN-affiliate entities. ACORN’s Affiliated Media Foundation Movement showed notes and loans receivable of nearly $250,000 from other ACORN entities, while also showing notes and loans payable of more than $1.1 million to ACORN and its Institute for Social Justice
• Tax forms show that since 1997, the ACORN Housing Corporation has paid more than $5,100,000 in fees or grants to other ACORN entities
• Since 1997, the American Institute for Social Justice has given grants in excess of $7 million to ACORN and its affiliates

The money is there

But ACORN employees don’t see much of it. CLICK HERE for part four of this series to see how ACORN treats the people who work for them.

Related Videos:

Disaster area?

A Florida county that has been particularly hard-hit by the housing crisis is seeking “disaster area” status.

In St. Lucie County, thousands of homes stand vacant or unfinished. A  county commissioner believes the crisis has reached disaster proportions. If the county is declared a disaster area, it could receive money from the government’s fund dedicated to providing relief in areas hit by hurricanes and tornadoes.

What constitutes disaster?

Instead of waiting for cash advances from the government, County Commissioner Doug Coward is pushing for the disaster area classification so his county can get some help.

“This is a man-made disaster,” County Commissioner Doug Coward acknowledged. But he said that is why “we’ve got to do something. Clearly, the economic crisis of the country far exceeds the ability of local governments to solve it, but we’re trying be a part of the solution.”

Why make declaration?

Doug Coward

In addition to being eligible for the disaster relief funds, the declaration would let the county sidestep the usual bidding process for construction projects. Then the jobs could go directly to local contractors.

Advocates are hoping that if more locals are put to work, they’ll be able to pay their mortgages and avoid even more foreclosures in the area.

Rise and fall

Port St. Lucie was the fastest growing large city in the United States just five years ago. However, the rapid growth led to a rapid decline.

Affordable housing, open space and a laid-back lifestyle drew residents to Port St. Lucie by the busload. But despite the seemingly low home prices, many people soon realized they couldn’t really afford their homes. They found themselves swept up in the nationwide mortgage crisis.

Hard facts

In St. Lucie County, 10,000 homes were foreclosed last year — more than double the amount of the year before. Unemployment is 10.5 percent, significantly higher than the nation’s 7.9 percent.

Time to lead into absurdity… but only if you’ve read parts ONE and TWO first…

An essential part of the plan permits distressed homeowners to seek loan modifications in bankruptcy court, an option now permitted on other types of loans that are far less important to families and the economy. This provision will provide a new avenue for reducing hundreds of thousands of foreclosures without requiring any tax dollars.

How will it not require any tax dollars? I hear too many promises from politicians and those who wish to appease the public without saying anything at all. New programs require money. Taxation is the key way to generate this money. However, what shall we tax? The average person is breaking under the weight of their financial obligations. It’s no wonder people resort to quick loans on occasion.

One thing I think would be great to institute would be a lobbying tax. Lobbying is right and should be allowed on a level playing field. One of the ways to achieve that is through a luxury tax-style lobbying tax, I think. I’m sure it’s not an original idea. Since the Center For Responsible Lending (Eakes’ organization) is documented as having spent more than $1.7 million lobbying for bankruptcy and finance laws between 2004 and 2007, AND even more than that in 2008 alone ($280,000 in Q3 2008, per the Associated Press), they’d be paying some of that luxury tax to fund these programs!

Huh?

What’s happening here?

Equally important, it will provide stronger incentives for loan servicers to offer effective loan modifications outside of court. Allowing homeowners access to the courts means that voluntary private efforts to prevent foreclosures will work better — and, in doing so, will benefit the entire economy. And paired with the comprehensive and well-thought-out modification plan, many fewer families will need to take this course.

I’m confused here. Loan companies will have the incentive to modify unworkable mortgages outside of court, but allowing homeowners access to courts in this matter will aid the foreclosure prevention process? How are both of these true… how do they work together? Please. I welcome your explanation, Mr. Eakes. Or anyone else… please comment below.

Turnabout should NOT be consequence-free

He’s no Oz, he’s Martin Eakes!

We urge Congress to recognize the urgency of the foreclosure epidemic and to act immediately to implement the legislative parts of this plan without watering them down. Fast action is essential. While debate goes on, a new foreclosure occurs every 13 seconds.

“Act immediately, Congress. But pay no attention to the man behind the curtain…”

It is outrageous that Martin Eakes and his organizations (Self-Help, Inc. and the Center For Responsible Lending) are given a free ride on their involvement in the subprime mortgage disaster. That’s what lobbying clout will do for you… now we need the lobbying luxury tax to level the field so the other side can expose how false their “sounds good” rhetoric truly is.

Related Video:

Crime is taking a bite out of state budgets.

A report from the Pew Center on the States says there are twice as many adults in the corrections system now than there were 25 years ago.

That amounts to a big chunk of state budgets. The report says changing sentencing laws and probation programs would lower incarceration rates and save states money.

Changing the rules

Adam Gelb, director of the Center’s Public Safety Performance Project, agrees that keeping certain criminals locked up might not be worth it. As states are relying on quick loans from the government to get by, they should consider changing corrections tactics.

“Violent and career criminals need to be locked up, and for a long time. But our research shows that prisons are housing too many people who can be managed safely and held accountable in the community at far lower cost,” he said.

The U.S. Department of Justice reports that The United States has the highest incarceration rate and the biggest prison population of any country.

A costly punishment

State spending on criminal justice has gone up 300 percent in the last 20 years. It’s the fastest-growing area of spending after Medicaid. Gelb says states that spend more than others do so because of policies rather than crime rates.

“The huge differences between states are mostly due not to crime trends, or social and economic forces. The rates are different mostly because of choices that the states have made about how they respond to crime,” he said.

Best bang for your buck

Georgia has the highest percentage of incarcerated residents.

Gelb says that when it comes to spending on corrections, “community supervision strategies and technologies need to be strengthened” rather than scaled back.

He makes the argument that states can use ankle bracelets, Global Positioning Systems and other programs to track those on probation. The cost per criminal when compared to housing an inmate is significantly less.

Does the EPA need quick loans of some good, common sense, I ask you? Sometimes, cleaning and disinfecting can go too far. It can go so far that immediate action is required to cleanup the cleanup. Such is the case with germ-killing nano-silver.

The Center For Food Safety’s True Food Network Web site urges concerned Americans to lobby their elected officials and the Environmental Protection Agency (EPA) about this potentially dangerous substance that is found in scores of household products. Nano-silver appears in over 300 products currently, from appliances, clothing and cutlery to toys, product packaging and more. In total, many of the current products containing nano-silver are marketed toward children. Quick thinking loans itself to the theory that children are even being targeted by such products, simply because of the germ-killing potential. But it is simply too much of a risk, potentially.

According to True Food Network, studies have shown that “nano-silver can harm fish and aquatic ecosystems, potentially interfere with beneficial bacteria in our bodies and the environment, encourage the development of more virulent harmful bacteria, and directly interact with our genes, interfering with DNA replication.” Yet there has been no official safety testing done by the agency that is charged with protecting the health of American citizens!

What is nano-silver?

Nanoparticle silver (”nano-silver”) is advertised as having germ killing abilities. It’s a product of micro-sized nanotechnology, a technology powerful where matter can be reconstructed on the atomic and molecular levels. While vaguely related to regular silver, scientists tend to agree that nano-silver is rather different and it, like other nanoparticles, should be safety tested before humans are exposed to products that contain it. Despite little or no testing, nanotechnology continues to make advances in the consumer market. Now, nano-silver is the most common commercialized nano-material – and the full health and environmental impacts of the substance are unknown!

It is known that silver itself is an environmental hazard, and nano-silver may release silver into the environment. However, much more informative study is needed.

The EPA has authority over all substances intended to kill pests such as germs, and because of this, nano-silver has been brought to their attention as a possible problem. Yet the EPA has done little, and the nano-silver market continues to grow.

It isn’t even labeled clearly

Since so little is known about nano-silver, there are no requirements about labeling products that contain the substance. Groups like the Center For Food Safety are currently petitioning the EPA to not only label such products accurately, but more importantly to begin testing to determine whether it is safe. During this testing phase, they call for all products containing nano-silver to be pulled from shelves.

For the sake of every consumer, particularly our children, the Environmental Protection Agency must act now. It is my sincere hope that nobody has to take their child to the ER in the middle of the night. Toxic shock or any other type of impairment is a great expense in life first, dollars second. Quick loans can help with the second, but even they will only go so far.

Benjamin Weiser of the New York Times proves beyond a shadow of a doubt that even large organizations fall for those fly-by-night Internet scams and need quick loans to dig their way out. But, come on, seriously? You were taken in by a Nigerian con artist, Citibank?

That’s right. A con artist by the name of Paul Gabriel Amos worked with a team to create documents that fooled Citibank into wiring them money in transactions totaling about $27 million. The money came from a Citibank account in New York held by the National Bank of Ethiopia. The con artists posed as Ethiopian bank officials and approved the transactions. They could quickly get loans from the bamboozled financial megalith that never required them to repay.

Not-as-famous Amos has been arrested

He was charged with conspiracy to commit bank and wire fraud. If the Nigerian scammer is convicted, he could spend 30 years in prison.

According to Weiser, the prosecutors traced the scheme back to September of 2008, when Citibank received documents instructing them to accept instructions by fax from the Ethiopian bank. Included was a list of officials who would confirm the requested transactions (each of them a member of the con team, of course). The signatures of the officials on these documents even appeared to match those in Citibank’s records, so it was all accepted.

In October, Citibank received the faxed requests for money to be wired, and it transferred $27 million to accounts in Japan, South Korea, Australia, China, Cyprus and the United States. After the ruse was discovered, Citibank credited all lost funds. However, the damage to the bank’s already teetering credibility had long since been done. Now, with banks like Citibank nationwide crying to the government for quick loans to help them remain solvent, it makes you wonder why President Obama and his team continue to put up with bank leadership that fall for schemes like this. If it’s because the verification process itself is flawed, then FIX IT!

Related articles

• Citibank Sends Nigerian Scammer $27 Million [Whoops] (consumerist.com)
• DOJ: Nigerian Scammed Citibank Out of $27 Million (gothamist.com)
• 419 scammer impersonates the nation of Ethiopia, takes $27 million from Citibank (boingboing.net)

Obama held a formal dinner with the nation's governors at the White House on Sunday. (Photo: acinablog.wordpress.com

Now that the economic stimulus package has passed, President Barack Obama is wasting no time sending quick loans to states to cover Medicaid.

Medicaid supplements medical costs for poor people who don’t get health insurance through their employers.

Wasting no time

Obama is very specific about when states will get their quick loans: Wednesday. Obama will release $15 billion that day to states that have shortfalls in their Medicaid coverage.

Obama says this money will help 20 million Americans keep their health coverage.

Oversight and transparency

Obama has called on Vice President Joe Biden to monitor how states are using the stimulus money. He is charged with ensuring that no money is wasted.

In effort to stay true to his promises of transparency, Obama created the Recovery Act Transparency and Accountability Board. He appointed Chairman Earl Devaney, inspector general at the Interior Department.

Good examples

Some states have taken their own steps to ensure residents know how the stimulus money is being spent. Governor Deval Patrick of Massachusetts had a web site created that allows everyone to view how much stimulus money his state is getting and how it is being spent.

A few other states have launched similar web sites, and the White House has a web site with the same concept. Obama encouraged more states to follow suit.

Dinner table talk

At a formal dinner at the White House on Sunday night, Obama made some of his priorities clear in a speech.

The bottom line is, you still have to make sure that schools are open, that children are learning, that people who are falling on hard times are getting help, Obama said.

Spending and saving

(Photo: NY Daily News)

Even as Obama is sending out stimulus money, he is making public his plans to shrink the national debt. Obama plans to speak at a “fiscal responsibility summit” today, where 130 officials will discuss the long-term plans for dealing with the nation’s deficit.

States can expect their quick loans for Medicaid this week, but they can also expect cost-saving changes to come their way.

After he handed out billions of dollars in quick loans to banks, auto retailers and the nation as a whole, President Barack Obama’s next goal may surprise you.  He plans to cut the annual deficit by two-thirds in the next four years.

Big plans

At the beginning of Obama’s presidency, the national debt was $1.2 trillion. That amount will rise to $1.5 trillion after initial spending from the quick loans and other programs in the economic stimulus package. However, Obama’s economic projections say that by the end of 2013, the deficit will be down to $533 billion.

How to slash a deficit

The major components of Obama’s plan are Iraq troop withdrawal and higher taxes on the wealthy. Obama says he’ll release his budget outline Thursday. This outline will also make clear how he intends to deliver campaign promises on health care and energy policy, according to the New York Times.

Funding the Iraq war has accounted for a huge percentage of the nation’s spending, and Obama says his troop withdrawal plan will save about $90 billion.

A few new taxes

Obama proposes taxing income from investments in hedge funds and private equity partners at ordinary income tax rates. Right now those types of income are taxed like capital gains, at the rate of 15 percent. His policy would consider those funds income, and thus they could be taxed up to 35 percent, which is what the most wealthy pay in income tax.

Fewer tax cuts

During Obama’s campaign, he said he would immediately get rid of  the Bush tax cuts on income, dividends and capital gains. However, because of the economy crisis, he plans to instead let them lapse, as scheduled, after 2010 for individuals who make more than $250,000 a year.

Spending cuts

Obama’s proposal will also include spending cuts. One program he proposes spending less money on is Medicare Advantage, which subsidizes insurance companies that cover seniors who could acquire health coverage directly from the government.

He plans to scale back spending on on private contractors. This type of spending went up considerably during the Bush administration. Many of the cuts Obama proposes include cutting spending on private contractors used for defense purposes.

Campaign promises

During his campaign Obama said he would double the United States’ spending on foreign aid. However, given the stimulus package and the economic hardship the nation faces, Obama concedes he will have to scale back that promise.

Healthy promises

However, Obama will not scale back his promise to make sure the 46 million Americans who don’t have health insurance will be covered. He says he can achieve this promise without adding to the deficit thanks to cost-saving changes to health care and by raising revenues.

Energetic promises

Obama says his energy policy will create new revenue by 2012. He plans to charge companies for permits for greenhouse gas emissions, which would be the main revenue generator.  Obama assumes that companies will pass the cost of the permits on to customers, so he says the government will use most of the revenue to offset higher utility bills and related expenses. The remaining revenues would go toward developing alternative energy.

Closing arguments

Obama says is strategy is ”investing in what we need, cutting what we don’t, and restoring fiscal discipline.”

“We can’t generate sustained growth without getting our deficits under control,” he added.

After all the quick loans being handed out, it’s nice to see some debt management kicking in.

If automakers in the U.S. want more easy loans from the government, they may face some big changes. As General Motors seeks to separate itself from European brand Saab, some government officials are considering uniting GM with another company: Chrysler.

As one might imagine, the automakers are not crazy about holding hands with their competition.

Why merge?

The most compelling argument for merging the two companies is to retain jobs. Chrysler is struggling even more than GM, and facing a lot more layoffs on top of the ones already made. Officials think that uniting the two companies could possibly save Chrysler, and thus save lots of jobs.

Why not merge?

The government already issued bailout money to both auto companies in December. At that time, the idea of merging the companies was brought up. The reason they didn’t follow through with this idea before was cost. It will cost billions of bucks to close extra factories and dealerships and combine operations.

Kimberly Rodriguez, head of the global auto practice at Grant Thornton Advisory Services, said she thinks the government will at least consider whether it would be better to loan them even more money so they can combine and emerge as a stronger company down the road, according to CNNMoney.com

More money and still more problems

The U.S. Treasury  gave Chrysler and GM a combined $17.4 billion in easy loans last year. And still, the U.S. auto industry is clamoring for more money. The two companies have asked for up to $21.6 billion more. Both companies were required to draw up viability plans, and they submitted those plans, funding requests in place, to the government last week.

Chrysler’s viability plan

In the viability plan Chrysler submitted last week, the company mentioned the possibility of a merger. However, this was only a minor footnote, not a main component of its plan for survival.

Chrysler did quote one analyst, saying combining its company with GM could produce between $40 billion and $58 billion in extra profit by 2016.

GM’s viability

It seems a tad risky to say that GM is in the position to save anyone. Right now, GM is getting rid of partner companies, not gaining them. GM has already cut loose its Swedish auto brand Saab. Rumors are circulating that it is considering unloading its German unit, Opel.

GM also says in its plan that it is not pursuing any kind of combination with Chrysler. It also seemed more dismissive of the idea than Chrysler, according to CNNMoney.com.

GM spokesman Tom Wilkinson still says he wants to hear suggestions from the federal auto task force on what would best for the company.

More layoffs on the horizon

Both companies are making cuts as the economy, the auto industry and sales outlooks continue to grow weaker.

Chrysler says it plans to cut about 3,000 more U.S. workers. GM said it is planning to lay off about 20,000 U.S. workers this year. GM also says it will close five more plants by 2012. It previously named 12 other plants it expects to shut down. David Cole, chairman of the Center for Automotive Research thinks that as the companies get smaller, it will only get easier to merge the two.

If the companies can save more jobs with their easy loans by merging, do you think it’s worth it? Leave your comments.

Friday, Arnold Schwarzenegger signed California’s much-debated budget, which includes quick loans, hefty tax increases and deep spending cuts. So what’s next?

The tax man cometh

New income taxes, sales taxes and vehicle license tax will kick in on April 1, according to the Los Angeles Times. The dependent tax credit will be reduced, which will apply when Californians do their 2009 tax returns.

Switcheroo

Strangely, about seven weeks after the tax increases go into effect, California voters will get a chance to approve or deny them.  Voters must agree pay the tax increases for the next two years. Well, the next one year and 10 months or so.

Banking on the lottery

On May 19, the same day they vote on the tax increases, voters will weigh in on all ballot measures related to the budget. This is where the quick loans come in.

In addition to the tax increases, Californians will vote on whether to borrow $5 million against future lottery proceedings. That way the state can spend future lottery purchases now.

How much?
Sales tax will go up by 1 cent on the dollar. Obviously, how much this tax costs individuals depends on how much money they spend. The vehicle license fee will double, bringing the total fee to 1.15 percent of the car’s value.

Income tax will go up 0.25 percent. For those on the lower end of the income scale, this will cost about $53 per year. For those making $1 million or more who have two dependents, it will cost about $2,250. The dependent tax credit will be reduced by $210 for everyone.

“According to a legislative analysis of those four tax increases, an average family of four with an annual income of $75,000 would pay $963 more a year in taxes.”

More budget ballot

There will be a few more items for Californians to vote on come ballot time. The budget proposes reducing spending on mental health programs by $226. It also takes $608 million from programs aimed at children younger than 5 years old. Voters will have to approve these measures for them to go into effect.

Another ballot measure would put a cap on future state spending — if the voters say the tax hikes can stay in place four years instead of two.

No free lunch for legislators

State leaders’ salaries could take a hit, too.

A constitutional amendment on the ballot would “eliminate salary increases for state officers, including the governor and Legislature, in years with a projected budget deficit.”

Vote heard around the world

Budget negotiations in California were not pretty this year. California requires that two-thirds of legislators approve the budget. After two weeks of debates and battles, they were still coming up one vote short.

Democrats gave some last-minute concessions and won the vote of Republican Sen. Abel Maldonado. According to Central Coast News, Maldonado became “an instant celebrity.”

What happens?

If Californians vote down the tax increases and spending cuts, it will be up to the legislature to figure out how to fix the hole in its spending plans. The legislature may need to try to find more ways to get quick loans in order to avoid another deficit next year.