Word: moneyitis
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...they're also more expensive. That has the potential to slow down economic recovery, since firms that can't borrow often can't expand. Policymakers have responded with a number of programs to boost small-business lending, including an Obama Administration proposal to repurpose $30 billion of bank-bailout money to spur more business lending at community banks...
...last year by the National Federation of Independent Business, a small-business trade group, found that companies were overwhelmingly more concerned about slow or declining sales than access to credit. A full 51% of businesses cited sales as their top concern, while only 8% cited the ability to borrow money. An additional 22% cited uncertainty as their biggest worry. In unstable times, even healthy companies are unlikely to want to take on debt. (See the top 10 bankruptcies...
...employees and closed 16 courtrooms. Facing an unprecedented $79 million shortfall, Presiding Judge Charles W. McCoy said that the courts will lay-off an additional 500 workers and shutter up to a total of 50 courtrooms come September. Announcing the cutbacks in a courtroom closed months ago to save money, McCoy said, "Today is a sad day for justice in Los Angeles." With attrition, McCoy expects the 5,400-employee court system to lose approximately 1,000 employees, a 20% reduction...
...more and better jobs in the U.S., it should do things like create a permanent tax break for companies that invest in research and development, make it easier for foreigners who get science and engineering Ph.D.s at American universities to stick around after graduation, and spend serious time and money improving the nation's infrastructure, including the electric grid and broadband network. Such initiatives will not create many jobs that can be tallied on a spreadsheet. What they will do is more important: lay the groundwork for businesses to innovate and grow...
...this costs money, and with a federal-budget deficit of more than 6% forecast for this year, Russia does not have a lot to spare. Prime Minister Vladimir Putin has pledged an initial outlay of $12 billion from the budget to fund the construction projects, but that is not expected to be enough - and private investors have indicated that they may not be willing to make up the difference during the economic downturn. There are also signs that the initial cost estimates have been way off. Last July, the government said the total construction bill would run about $6.6 billion...