Thursday, September 30, 2010

Former President George W. Bush in Beloit

 

Bush was in Beloit Thursday for a private visit to ABC Supply Co. headquarters.

joined by ABC Supply’s owner Diane Hendricks and a small group for a private luncheon. Mrs. Hendricks, who co-founded the company with her late husband, Kenneth Hendricks, has been prominent in Republican circles for many years.

 

After touring ABC, the former president arrived at the company’s gymnasium and fitness center, where a crowd of about 350-400 employees had gathered. Bush spoke to the assembly for about 20 minutes.

Beloit Daily News - your source for news, entertainment, sports, opinion, events, community, shopping and more > Breaking News

Belvidere council to waive bids for firetruck

city received an insurance check of $557,000 to replace the scorched truck, which now sits in the city’s yard.
The city will spend an additional $99,134 worth of land/cash annexation fee revenues to buy the truck. The city had designated that money for a new fire station or equipment.
The truck is expected to be ready within 245 days of a signed purchase agreement. It will feature a 101-foot ladder and will be the city’s sole ladder truck.
While the truck is being built, Alexis — the manufacturer — has agreed to provide the city with a free loaner truck.

Click on the following for more details: Belvidere council to waive bids for firetruck - Rockford, IL - Rockford Register Star

Scientists overcome hurdles to stem cell alternatives

 

can use laboratory-made versions of naturally occurring biological signals to quickly convert ordinary skin cells into cells that appear virtually identical to embryonic stem cells

described in a paper published in the journal Cell Stem Cell, could mark a pivotal moment in the long, contentious history of embryonic stem cell research.

click on the following for more details:  Scientists overcome hurdles to stem cell alternatives

TARP, the Long Goodbye - Yahoo! Finance

Troubled Asset Relief Program, or TARP, is over - more specifically, its legal authority expires on Sunday, so it cannot be used for new "bailout" activities (although legacy programs, with money already disbursed, could last 5 to 10 years.)

three mistakes were made in the implementation of TARP.

  • there was no need to be so excessively generous to the financial executives (and their boards) at the institutions that had to be saved. In part this generosity was due to insufficient safeguards
  • missed the opportunity to change the structure and the incentives of Wall Street when it had the chance,…notion that our biggest six banks are untouchable today is uncontroversial.  Their creditors know this, so these banks can borrow more cheaply than their smaller competitors, they can become larger relative to the economy, and if you doubt the risks that this poses, just look at the situation today in Ireland.
  • time the administration put forward its financial reform ideas, the big banks were back on their feet - and ready to throw huge numbers of lobbyists and unlimited cash into the fight to preserve their right to take inordinate risk and to mismanage their way into disaster….Dodd-Frank Act, while including some sensible consumer-protection measures, essentially does very little to reduce system risk as we move into a new credit cycle.

Click on the following for more details:  TARP, the Long Goodbye - Yahoo! Finance

U.S. Issues New Regulations on Offshore Drilling - NYTimes.com

 

The Interior Department issued new safety and spill-response regulations for offshore oil and gas drilling on Thursday, but gave no hint of when the moratorium on deepwater operations will be lifted.

— governing blowout preventers, safety certification, well design, emergency response and worker training — provide offshore drillers with clarity on the terms under which drilling will resume when the current freeze ends….rules take effect immediately under emergency rule-making powers

Click on the following for more details:  U.S. Issues New Regulations on Offshore Drilling - NYTimes.com

Search foreclosures in IL 61008 | RealtyTrac.com

397 foreclosed homes in zip code 61008 are listed on this commercial site.

Search foreclosures in IL 61008 | RealtyTrac.com

AIG, U.S. agree on plan for repayment of $100 billion in bailout money - latimes.com

convert $49.1 billion in preferred shares purchased with money from the Troubled Asset Relief Program into common stock in AIG. The move will increase the U.S. ownership stake in the insurance giant from 80% to 92%, but allow the government to sell the shares over time in the open market to end the taxpayer support.

Click on the following for more details:  AIG, U.S. agree on plan for repayment of $100 billion in bailout money - latimes.com