hhgregg Coming to Philly

In Friday's WSJ, "Midwest retailer seizes change to take on Best Buy in downturn," by Miguel Bustillo, we find this:

Retailer hhgregg Inc., long a Midwest consumer electronics star, is moving aggressively to capitalize on chaper rents during the economic downturn by building a nation-wide presence to challenge much bigger rival Best Buy Co.

the Indianapolis company will open 40 to 45 stores in the Philadelphia, Washington, D.C., and Baltimore areas in coming months as part of a broader plan to expand to 600 stores this decade from 127 currently.

Hopefully that means they will be hiring. If stores are distributed evenly among the three urban areas listed that means approximately 15 stores would be opening in the Philadelphia area. Each would need a physical location, staff, deliveries, etc., and people to perform those tasks.

So far no "coming soon" signs in Pennsylvania on their website's store locator but the plan are good news anyway.

Cutting Wasteful Defense Spending

From the inbox:

Today, Pennsylvania Congressman Patrick Murphy (D-PA, 8th District) and New Jersey Congressman Robert Andrews (D-NJ, 1st District) announced their successful efforts to cut numerous wasteful defense programs, saving taxpayers over $10 billion, while also ensuring our troops have the resources they need in the field. The Congressmen highlighted the upcoming termination of the LOREN-C satellite program, which has been overwhelmingly acknowledged as duplicative and unnecessary, for a savings of nearly $200 million over the next five years. In addition to this program, the two members of the Armed Services Committee were able to cut programs such as the Multiple Kill Vehicle, the Transformational Satellite, the F-22 Raptor, the CSAR-X Helicopter, and the Kinetic Energy Interceptor. It is estimated that the termination of these programs, which the Defense Department itself described as unnecessary, will save over $10 billion in the coming years while improving our national security.

“Terminating these programs, which the Defense Department itself acknowledges are unnecessary, makes good fiscal sense for taxpayers and good strategic sense for our warfighters,” said Congressman Patrick Murphy. “Every dollar wasted on an unnecessary program is one less dollar to be spent on the resources our troops need to keep us safe.”

“Our top goal is to bring America back to economic health, and reining in our nation's debt and deficit by eliminating wasteful spending is an important way to help get the job done,” said Congressman Robert Andrews. “By eliminating unnecessary programs like this that have provided immediate dividends exceeding $10 billion, we will ensure that our warfighters are getting the most value for every dollar so that spending can be targeted at efforts that have been proven to maintain our nation's security.”

Projected taxpayer savings from Murphy’s and Andrews’ defense spending cuts:

* The termination of the Multiple Kill Vehicle will save over $4 billion from 2010 through 2015. Secretary Gates said, “We will terminate the Multiple Kill Vehicle program because of its significant technical challenges and the need to take a fresh look at the requirement.”

* The Department of Defense anticipates savings of approximately $1.5 to $2.5 billion dollars though 2015 as a result of procuring more Advanced Extremely High Frequency (AEHF) satellites in the place of the Transformational Satellite. Secretary Gates said, “We will terminate the $26 billion Transformational Satellite program, and instead will purchase two more Advanced Extremely High Frequency satellites as alternatives.”

* The Department of Defense has determined that 187 F-22s, together with other fighter aircraft including the new Joint Strike Fighter now in production, will be able to meet foreseeable threats. Continuing the F-22 program would have cost taxpayers nearly $3.5 billion per year. The F-22 has not flown a single mission over Iraq or Afghanistan . The F-22 has required more than 30 hours of maintenance for every hour in the skies, pushing its hourly cost of flying to more than $44,000. Defense Secretary Gates recently stated, “Every defense dollar diverted to fund excess or unneeded capacity -- whether for more F-22s or anything else -- is a dollar that will be unavailable to take care of our people, win the wars we are in, to deter potential adversaries, and to improve capabilities in areas where America is underinvested and potentially vulnerable.”

* The Air Force Combat Search and Rescue (CSAR-X) Helicopter Program has experienced problems with contracting, high costs, and there is not a clear need for an aircraft solely devoted to this purpose when multi-purpose aircraft are available. Further, this program has experienced contracting problems that have led to delays and higher costs. Secretary Gates said, “This program has a troubled acquisition history and raises the fundamental question of whether this important mission can only be accomplished by yet another single-service solution with single-purpose aircraft. We will take a fresh look at the requirement behind this program and develop a more sustainable approach.”

* Termination of the LOREN-C satellite program will save $200 million a year for the next 5 years. Senator John McCain said, “Here we are, 28 years later, trying to terminate a program that literally every agency of government is trying to kill.”

US Unemployment in January

From the inbox:

On the Employment Situation in January

Posted by Christina Romer on February 05, 2010 at 09:30 AM EST

While unemployment remains a severe problem, today’s employment report contains encouraging signs of gradual labor market healing. The unemployment rate fell three-tenths of a percentage point and employment rose in a number of industries, though overall employment fell slightly.

The unemployment rate declined from 10.0 percent to 9.7 percent. This decline occurred despite a modest rise in the labor force. The broadest measure of the unemployment rate, which includes all persons marginally attached to the labor force and workers working part time for economic reasons, fell almost a full percentage point. Obviously, the unemployment rate remains unacceptably high, and is even worse for certain demographic groups such as teenagers and black or African American workers.

Overall payroll employment declined 20,000 in December. This total reflects substantial variation across industries. Employment in manufacturing rose for the first time since January 2007, led by an increase in employment in motor vehicles and parts. Employment also rose in retail trade and in temporary help employment. Employment fell, however, in construction and state and local government.

Even as today’s numbers contain signs of the beginning of recovery, they are also a reminder of how far we still have to go to return the economy to robust health and full employment. Indeed, with the benchmark revision announced today, we now know that the total job loss over the recession was more than 1 million larger than previously estimated. That is why at the same time that he released a plan for reining in the budget deficit over the medium and long run, the President has called on Congress to enact responsible, targeted actions to jump-start job creation. His proposals for a small business jobs and wages tax cut and a new program to encourage small business lending are important steps to help the businesses that are essential to robust job creation. Today’s numbers showing continued decline in construction and state and local government employment emphasize the importance of two other of the President’s priorities—continued infrastructure investment and additional aid for strapped state and local governments.

There will likely be bumps in the road ahead. The monthly employment and unemployment numbers are volatile and subject to substantial revision. Therefore, it is important not to read too much into any one monthly report, positive or negative. It is essential that we continue our efforts to move in the right direction and replace job losses with robust job gains.

Joe Hoeffel on PCN Call In Show

Yesterday evening Democratic gubernatorial candidate Joe Hoeffel was on the PCN Call-In Show.

The show is on their website (www.pcntv.com)for viewing at your convenience. I watched today and took notes. They are not intended as a transcript and I apologize in advance for any errors or misconceptions.

Larry Kaspar hosts the show. Callers also ask questions.

LK: Why running:

JH: want to do a better job for PA. hope to provide leadership in Harrisburg to bring things together and get things done.

LK: what is starting point for next gov

JH: no question jobs. I favor using state resources both to invest in older communities and adequately fund early childhood ed programs so workforce can be well education and trained.

LK: why want to be gov at this point in time

JH: a challenge. I’ve been in public office 24 years, public service a very high calling, learned from parents, would like opportunity

LK: what to do to attract jobs

JH: need well-trained workforce, need more college grads and use community colleges more. Need to focus on sectors that are growing, such as green economy, numerous green econ jobs we need to develop here in PA, invest in older downtowns and communities.

LK: if you were to give Rendell’s budget speech:

JH: create jobs, make people understand gov has an important role to play. Create coalitions across divides, with rural communities, use state resources to education children and educate

LK: poll, most imp issues economy, taxes, spending, debt, health care. Health care?

JH: really disappointed in D majority in house and senate for not passing health care reform. Tea baggers exaggerate. Dems didn’t realize the anger out there, but should have passed health care. Instead dilly dallied. Need lost cost health care and public option. Hard to know what PA should do until federal issue settled. Best model is medicare model, single payer.

Q: pro life or pro abortion

JH: pro-choice, have always been that way since a young legislator, opposed current restrictions on abortion in PA, needs to be made more fair. Being pro choice more than just right to abortion but trusting women to make their own decisions, want to empower women. Decision should be made by women and family and doctors

LK: federal law on abortion

JH: house and senate not in agreement. Fed law says no fed funding can be used for abortion except certain circumstances. Need to include health of mother in those exceptions

LK: [missed the question]

JH: we are all equal, laws should be equal. Marriage equality overdue in this country.

Q: used to be a D, but a sportsman. Problems with game commission and dcnr. Not enough deer in rural areas.

JH: want to protect sportsmens’ rights, hunting a great tradition in PA. want more gun safety laws on the books. Can do that and protect hunters and sportsman rights, too. Not a hunter but a fly fisherman. Not up on abuses of power by dept of conservation and natural resources. Must balance those rights and environment and jobs

LK: med marijuana

JH: medicinal only, under drs orders, for patients who can’t get pain relief from other medications, tight restrictions on its use

Q: state workers pawns in greater scheme of things. Wife worked for state 35 years, would like to retire, but worried about pension

JH: some want to change current system of defined benefits to defined contributions. Want to keep current system, with responsibility of both employee and employer to fund. If defined contributions then state pays in but if left in market and market goes bad retirees stuck

LC: pension fund viewed as a bubble about to burst

JH: legislators increased own benefits 50%, disagree with that, also increased
teachers, etc 25% but did not fund. Then when market crashed and pension funds lost value all of the sudden underfunded. Need recovery which solve a lot of the problem but state must contribute every year. Faces this in Montgomery County

Q: watched interviews of candidates running for gov, all for abortion and same sex marriage. Very disappointed with people favoring abortion. Have you ever seen an abortion and what would be your plan to help our girls who struggle the rest of their life after they realize what they’ve done

JH: this decision very personal. Women should make that decision in consultation with their doctor. Pro choice and always have been but competitors not consistent on this.

LK: Gov Rendell making budget speech next week, efforts to cap drilling Marcellus shale

JH: definitely need to tax extraction, should have done it this year. Companies from out of state coming in and making millions and millions of dollars, need to protect environment from waste water created in process. This drilling will create jobs and help with energy independence and that is good but process creates a lot of waste water and just putting it back into environment, very dangerous. Before using water to break up shale inject with chemicals. Would like to see Dept of Environmental Protection temporarily put a hold on drilling permits until we figure out how to deal with waste water and put a tax on it. Use tax revenue to increase budget for dep, permit reviewers, etc., agriculture dept, renew growing greener. If gas field as large as thought can use revenue to help communities where drilling is, etc, but must make sure environment protected

Q: statewide elections, not good voter turnout, esp in Philadelphia area and South East Pennsylvania

JH: right about low voter turnout in city. The answer is not geographic but we need candidates that will inspire a higher turnout. In Philly issues of poverty injustice, empowerment for African Americans. PA needs an urban strategy. If voters feel they are being ignored they aren’t going to vote. Candidates have to be sharp and tell people the truth and hope voters respond.

Q: problems result of both sides arguing and bickering. What will you do to bring them together.

JH: far too much partisanship in Harrisburg and Washington. No question next gov has to bring us together. Done that in Montco, worked as minority d commissioner worked effectively with R colleagues. Vice chairman of board of commissioners. Things we disagree on we set aside, things we agree on, econ development, etc., we do. Don’t air disagreements in public. I like legislators, used to be one, confident can bring people together to get things done.

LK: primary. What distinguishes your campaign from others

JH: my profile through 24 years in office, socially liberal, fiscally responsible, represents majority opinion in D and R. stand out from competitors, all good men, stand out as more liberal socially, having broader experience in government

Q: pension system. Anyone in current system has to be honored.

JH: thanks for question and points made. My view is average public employee is not highly paid for that particular job, most can make more money in private sector. Not true for all but true for many. Public service is its own reward but must put food on table. Benefits and pension. Don’t want to change it. Refers back to defined benefits vs defined contributions. Possible to keep up with current benefits but state must keep it funded, need stock market to recover. A deal is a deal. We promised these pensions.

Q: 8 years of a worthless gov, a D, has done nothing for this state, for Philly. Now someone similar wants to come in. all I see from D’s is spend spend spend.

JH: I think you must be in another world. Rendell has done some great things for PA. our unemployment rate is lower than national level, 2 points below. I disagree with your view of things. Totally entitled to your views but we disagree.

LK: Franklin & Marshall poll, Rendell unfavorable ratings at over 40%

JH: direct result of budget fight. Rendell held more responsible than legislature. I believe I can do a good job working with legislature, regaining that effective working relationship. After 7 years of battling and obstructionism from senate GOP, more so than from House. Political parties have to knock it off. When in office have to govern, in Harrisburg and dc. Not what public wants. Hopes public will punish those who have done it.

Q: why PA has largest legislatures in country, downsize.

JH: I don’t think our problems in Harrisburg due to size of legislatures. It is a large legislature. But the number of legislators doesn’t correlate to how good they are. Won’t sign budget if it has slush funds. Recent audit by State Rep Josh Shapiro shows there is [missed number, in millions] in legislative slush funds, should be returned to general fund, doesn’t like WAMs, given out to individual projects without input from appropriations committee. Need legislative budget office similar to congressional budget office, professional non-partisan renders funding on what a bill will cost. No one fights over it because it is nonpartisan. In Harrisburg they fight all the time and disagree over numbers. Will make budget process easier and smoother.

LK: bio

JH: over the last 35 years have served I public office for 24, state rep, county commissioner, 6 years in congress, now on 2nd tour of duty with county commissioners, fought for economic development, equal rights, etc, take that experience to governors office, make it more effective for people

Q: our current gov, promised elimination of property taxes, table games, earmarks to do other projects, payouts from casinos terrible, how much of gaming money going to prop taxes

JH: don’t know exact percentages. Local property tax is a terrible tax, bad for retirees and disabled, prop taxes keep going up. Move from prop tax to income tax. Right now state pays 35% of cost of schools, national average is 47%. Gov and legis did beef up school subsidy formula. Pledges support to formula but when goes up puts burden on local area. Tax revenue from natural gas extraction, greater share on state income tax, a graduated tax as 34 other states have. Only one with flat tax. Heavy reliance of prop tax, hard to raise money for special needs

Q: how many companies in private sectors have pensions. How can private sector pay pensions?

JH: many people in private sector have pensions but some do not. Benefits to employees among first things cut back. Montco did not increase tax. Have a tough time at all levels of govt if recession continues. Cutting pensions not the answer.

LK: give us an example of east / west, etc.

JH: Democrats best served by nominating someone with a clear diff from Corbett, also an honorable man. East / west mostly a geographic distinction. D’s shouldn’t coast and take things for granted as did in Massachusetts. Get things done, push back against tea baggers against obstructionism, people of PA deserve better than that. Want to draw clear distinction between Democratic and Republican.

LK: The election of Scott Brown in Massachusetts did that mean any adjustments in your campaign

JH: voters are mad, worried about jobs, childrens econ future. Sometimes bickering in majority party, like in dc with health care. Major blunder, probably major reason voters made in MA.

Q: financing start up small business

JH; as a state legislator helped start Ben Franklin [missed name, it is a business incubator] giving a nurturing business climate. Worked for a time in international business at the Department of community and Economic Development. We want to keep this a wonderful place to raise a family and invest in a business. Jobs today being created in small business sector

Q: Philly democratically run for last 70 years, what reform

JH: my view is we’ve got to get past these regionally hostilities these grudges, urban / suburban / rural. We are competing with large and effective entities around the country and around the world for jobs.. if we don’t get out act together. If we fight we’ll lose out. We won’t get international investment. On a small scale Montco economic development program, invested in small co, US Maintenance, Norristown is now their North American hq. invest locally, gave them support, cooperated with govt of Norristown. As govenor that is job 1 for me.

LK: early stages of campaign

JH: is it early, people have other concerns right now, battle for attention, enjoying the process,

LK: what diff emerged from other D candidates in debates

JH: agree on economy, disagree on some social values, support stronger for women’s rights to make own reproductive decisions, gun safety, strict environmental protection, civil rights for all and marriage quality. Important for voters to understand diff. on econ issues, know how to marshall resources of govt, econ development in older communities and downtown.

Q: if elected would you support constitutional convention to truly reform all branches of govt

JH: we should consider it because we need fundamental reform in Harrisburg. Some people fear this as for possibility of rewriting from left or right. Should send good people to convention, elect them, then must be public referendum to approve it. If it went to extremes, as governor would ask for a no vote and lead charge against it. In meantime as gov would fight for these reforms, ethics, campaign finance reforms, legislative reforms.

Q: independent voter, disenfranchised in primary

JH: agree, as a legislator supported a bill but it didn’t pass that would allow independent voters to vote in one or another party’s primary.

Q: have watched you since you were a young legislator. You strength has always been your unquestioned integrity. Will you tell us how you would deal with bidding and contributors

JH: professional contracts by law do not have to be bid but should have some competition to get good professionals and good price. Use rfp, etc., to get best value for taxpayers. Absolutely need campaign finance reform. Requires disclosure but not limits. Would like to see caps on size on contrib., $5K. We need more transparency, stronger teeth for violations. Pay to play abuses. Competition in contracts very important.

Q: companies get tax credit for jobs and then leave, or just use temp agencies instead of creating full time jobs

JH: when govt uses tax dollars for econ dev has to protect those jobs. Clawback clause, where if contract violated can take back money. Shouldn’t fund companies close to going bankrupt. When at dced my job was to attract companies. Alternative energy industry is more development in Europe and Asia. bring those companies here but be careful. If give govt money must be careful

LK: why should d vote for you

JH; have experience, compassion for most vulnerable , courage to say we need govt, an open and honest govt, to pair up with private sector. Will fight for equality for all. We’re all in this together.

Hoeffel Labor Platform

From the inbox:

Pointing to a strong voting record on labor issues throughout his career, Democratic gubernatorial candidate Joe Hoeffel today released his platform on labor issues that promised to “defend workers’ rights” and “ensure they receive fair, wages, rights and benefits”.

During his three terms in the U.S. House of Representatives, Hoeffel was a staunch supporter of workers’ rights and had a 97 percent rating on labor issues from the AFL-CIO.

His strong record on labor issues has resulted in his campaign already receiving endorsements from two Philadelphia area unions. Roofers Local 30 and Laborers Local 135 have given Hoeffel their strong support.

In a statement released in conjunction with his endorsement, Michael O’Malley of Roofers Local 30 said his union endorsed Hoeffel because “he understands the needs of working people. Joe Hoeffel is a fighter for working families. While in Congress, he had a 97% lifetime AFL-CIO voting record and time and again proved his leadership by speaking out on the right of workers to organize.” Roofers Union Local 30 represents workers in 29 counties across central and eastern Pennsylvania.

“A strong economy cannot be achieved without a strong, healthy workforce,” Hoeffel said. “It isn't enough to just create jobs: we must ensure the workers who take those jobs will be paid a reasonable income, be guaranteed fundamental rights, and be covered by health and retirement programs which will protect them during and after their careers.”

In his platform, which is detailed on his campaign website (www.joehoeffel2010.com), Hoeffel voices strong support for the minimum wage; prevailing wage, which is pegged to the average bargained wage for a trade on state contracts and prevents the submission of artificially low bids that would result in underpaid workers; and project labor agreements, which put responsible contracting provisions into bidding documents for state projects.

Hoeffel also said he strongly supported the proposed Employee Free Choice Act and the National Labor Relations Modernization Act, which protect workers’ right to organize, and he said he would work to create such protections in Pennsylvania.

Hoeffel also said he disagreed with recent changes to worker compensation rules that have helped others at the expense of workers. “I will fight to restore lost workers compensation benefits such as increasing the compensation above the current 60 percent of income at the time of illness or injury and reducing the time a worker’s case must be managed by a company-approved physician,” he said.

Hoeffel also outlined a series of other labor-related issues he will support.

“As a state representative I voted for the fair share provision of Act 195, and as governor I will continue to protect Act 195,” he said. “When unions negotiate and enforce contracts which also benefit non-union workers, it is only fair that those non-union workers pay the percentage of the union dues which directly supports those actions of the union which benefit them.”

Hoeffel also supports a Public Employee OSHA law for Pennsylvania, to extend the federal safety and health standards to the state and local levels of public employment, and he said he will fight to keep state pensions as defined benefit programs. “Switching to a defined contribution program, as some have proposed, would create two classes of workers; such a policy would drive away well-qualified applicants and tell current workers we don't value their professions,” he said. “Defined benefits are simply more stable for retirement in a rocky economy. We need to build safety nets, not cut them.

The Governor’s office under Hoeffel would also have an open door policy. “Under recent administrations, there has been one negotiation table where labor has sometimes felt left out: the governor's table,” he said. “As governor, I will open the door to the governor's office and invite labor to my table. I will seek labor's input regarding appointments to various positions of interest to labor, including boards such as the Workers Compensation Appeals Board and the Work Force Investment Board. And I commit to keeping that door open for regular Governor's Labor Round Table discussions throughout my administration.

Schwartz on PAYGO

From the inbox:

U.S. Rep. Allyson Schwartz, Vice Chair of the House Budget Committee, issued the following statement today following passage of statutory pay-as-you-go legislation in the U.S. House of Representatives. Pay-go legislation requires that Congress pay for any new tax cuts or entitlement expansions and was responsible for turning record deficits into record surpluses in the 1990s.

“Today House Democrats took a major step toward their goal of balancing the federal budget. Like families and small businesses across the country, Congress must be fiscally responsible and pay for what we spend.

“Our focus in Congress this year is twofold: reduce the deficit and restore our economy. While we have made significant progress to rebuild our economy, more has to be done to put Americans back to work. At the same time, we simply can not continue to run up our national credit card and ignore our deficit. Pay-go legislation is an essential step in the process of restoring fiscal discipline and responsible budgeting.

“In 2002, Republicans allowed pay-go to expire, and turned a budget surplus into a deficit of $1.3 trillion. During that time, annual spending grew 8 percent each year. The Republican-controlled Congress passed the largest expansion of entitlements, fought two wars and gave huge tax cuts to the wealthiest 1 percent of Americans without paying for a dime of it. Collectively, these actions added more than $8 trillion to the deficit and contributed to the current recession Democrats have been working fix.

“Pay-go legislation has proven to be successful and turned record deficits into record surpluses in the 1990s under the Clinton Administration. This measure sets us on a responsible path forward and I am pleased that the House voted today to reinstate this important initiative.”

Shapiro on Trademark Counterfeiting

From the inbox:

State Rep. Josh Shapiro, D-Montgomery, last week secured the House Judiciary Committee's unanimous approval for his bill to strengthen Pennsylvania’s trademark counterfeiting law.

Shapiro’s bill (H.B. 2133) reinstates trademark protections that were overturned last October by the state Supreme Court and clarifies the offense of trademark counterfeiting. Since the ruling in October, law enforcement agents have been limited to misdemeanor charges in trademark counterfeiting cases.

"This legislation is needed as my bill seeks to remedy a gaping hole in our law,” explained Shapiro. “My bill will help law enforcement punish trademark counterfeiters and ensure that products sold to Pennsylvanians are legitimate. This is an important tool needed to protect businesses and consumers in our state.”

According to Stuart Drobny of Stumar Investigations, a Montgomery County firm representing a number of trademark holders across the country, very little can be done to stop trademark counterfeiters until the protections are reinstated. “During the 2009 World Series we were forced to serve trademark counterfeiters with cease and desist letters -- no arrests were made as the laws left on the books are a slap on the wrist at best,” explained Drobny. Drobny testified to a meeting of the Judiciary Committee in November urging the committee to take up legislation to reinstate trademark protections.

House Bill 2133 creates criminal penalties for knowingly and with the intent to sell for the purposes of commercial advantage or financial gain, manufactures, sells or offers for sale, displays or advertises, distributes or transports any item or services bearing or indentified by a counterfeit mark.

Murphy in WSJ Two Days in a Row

Look out Mark Zandi (chief economist at West Chester-based Moody's Economy.com)! The role of most frequently quoted Philadelphian in the Wall Street Journal may be up for grabs. For the second day in a row Congressman Patrick Murphy appears in the front section of the paper. From "Military chief says gay ban should go," by Yochi J. Dreazen.

Note this sentence:

A House bill sponsored by Democratic Rep. Patrick Murphy, a decorated Iraq veteran, is 31 votes short of the 218 needed for safe passage, and the Democratic leadership of the House is generally supportive of lifting the restrictions.

Lentz Supports Dredging

From the inbox:

Today, Representative Bryan Lentz released the following statement regarding the absence of funding for the Delaware River dredging project in proposed budget for fiscal year 2010. The proposed dredging project would stimulate the regional economy and create jobs by deepening the shipping channel to forty-five feet from the present forty feet, making the ports along the river more accessible to larger ships. A United States District Judge recently cleared the final legal hurdle delaying the dredging project.

“Dredging the Delaware River could bring as many 20,000 jobs to Pennsylvania. Hard-working Pennsylvanians are ready to get back to work. The U.S. Army Corps of Engineers is ready to dredge the river. Businesses are ready to send larger ships up the Delaware. I am calling on Congress to make sure our country is ready for the future and guarantee funding for this project. There is no excuse for delaying this job creation project any longer,” said Lentz. “This project is about economic progress for our region and our nation.

“As a Congressman, I will always fight to make sure that Pennsylvania gets our fair share of job-creating projects and federal investment dollars,” said Lentz. “The court has cleared the way; now it is time for Congress to make this happen. Major infrastructure projects create both a significant immediate impact and a long-term economic return for a low cost. President Obama omitted funding for this important project from his proposed budget—Congress must fix this error.

“Senator Arlen Specter and Congressman Bob Brady have already spoken out in support for this project. We need all elected officials in the area, including New Jersey Governor Chris Christie and Delaware Governor Jack Markell, to stand up for our region and speak with one voice in support of funding for the dredging. We have a real opportunity to create tens of thousands of jobs for our region, and everyone in position to do so should speak up and support this historic economic opportunity.

“Other cities all along the eastern coast have already dredged their rivers, increasing their capacity for receiving ships. We have to deepen the Delaware River to remain competitive,” said Lentz. “Just five feet deeper will attract more commerce. Ships will no longer have to unload cargo elsewhere before coming to Philadelphia.

“Ships that come into Philadelphia don’t just bring jobs for longshoreman. They bring raw materials for manufacturers, fertilizer for farmers, cargo that needs transportation to the Midwest and goods for industry right here in Pennsylvania. Business leaders are lining up behind the dredging because of the opportunities it creates for growth and prosperity,” said Lentz.

Kanjorski Statement on AIG Bonuses

From the inbox:

Congressman Paul E. Kanjorski (D-PA), the Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, expressed aggravation and disappointment about reports that American International Group (AIG) will pay $100 million in bonuses to employees at the very business unit that caused the company to lose tens of billions of dollars and seek a federal bailout. These bonuses only highlight the need for the Kanjorski amendment which will prevent the existence of companies that are deemed “too big to fail,” like AIG.

“I am deeply disappointed that AIG has, yet again, failed to halt excessive employee bonuses after receiving access to more than $180 billion in taxpayer money to keep the company afloat,” said Chairman Kanjorski. “AIG is a shining example of why we cannot allow companies to become “too big to fail.” The Kanjorski amendment will make it so that in the future, companies including AIG, will not be able to become so interconnected that they could severely damage the American economy if they collapse. Last year, I held two hearings on these issues, including one where the then CEO of AIG testified. I will continue to examine these matters as Congress works to ensure that the government swiftly winds down its support for AIG.”

Chairman Kanjorski added, “The House passed a Wall Street reform bill which includes this amendment. Just last month, the President expressed his support for a similar proposal. Now, the Senate must do its part by passing Wall Street reform legislation which includes the Kanjorski amendment or similar language in the larger bill. AIG’s bonuses only reemphasize that we must take action as soon as possible to better protect the American taxpayers and the American economy. I look forward to the day when the phrase ‘too big to fail’ is no longer a part of our vocabulary.”

Chairman Kanjorski has been a leader in crafting landmark Wall Street reform legislation to work to prevent future financial crises and better protect every American. H.R. 4173, the Wall Street Reform and Consumer Protection Act, passed in the House in December. The bill includes the Kanjorski amendment which would work to prevent another situation like we encountered with AIG. Specifically, the amendment would empower federal regulators to rein in and dismantle financial firms that are so large, inter-connected, or risky that their collapse would put at risk the entire American economic system, even if those firms currently appear to be well-capitalized and healthy. Therefore, American taxpayers should no longer be on the hook for bailouts, as financial companies would not be able to become “too big to fail.”

Video of UNITE HERE Vigil

UNITE HERE organized a vigil last month as part of a national campaign to support the Hyatt 100. UNITE HERE represents 6,000 workers in hospitality and food service in the Philly area. You can watch the video on YouTube. A large section of the 7 minute video is in Spanish but English subtitles are provided.

Freedom to Marry Week

There are a number of events celebrating Freedom to Marry week over the next few days. A schedule is available at: http://freedomtomarrypa.org/

Alphabet Soup: PJM on DADT in WSJ

Today's Wall Street Journal had an article on Congressman Patrick J. Murphy's leadership of the effort to repeal "don't ask don't tell." Opening line:

"The Obama administration's staunchest ally in the uphill fight to allow gays in the nation's military is a little-known Democratic congressman named Patrick Murphy, an Iraq war veteran who has written the only legislation that would repeal the "don't ask, don't tell" restrictions.

Little-known? ouch! Two other small slights: the article makes a point of saying Murphy is married (and thus straight, in case people wondered), and his article in on p. A3 while another Pennsylvanian (perhaps better known?), Punxsutawney Phil, is on p. A1, but below the fold.

Murphy points out that "the Pentagon has spent more than $1.3 billion training service members who were later discharged ..." More military leaders seem to be agreeing. The full article is available (at least for now) freely on the Internet: "Iraq veteran leads "don't ask" push," by Yochi J. Dreazen

Democratic Gov Candidates on Gun Violence

A note from our friends at CeaseFirePA:

Three of the four Democratic candidates for Pennsylvania governor say they support a law requiring that lost or stolen handguns be reported to the police - another large step forward for a commonsense reform attracting growing support across the state.

At a candidates’ forum Friday night in Harrisburg, Democratic gubernatorial candidates Joe Hoeffel, Dan Onorato and Chris Doherty all said they support lost or stolen handgun reporting and would sign such a bill into law if it comes to their desk as governor.

Although the fourth Democratic candidate, Jack Wagner, did not say he would specifically support lost or stolen handgun reporting, or any other particular reform, Wagner, the state Auditor General, did say illegal “guns in the hands of the wrong people” were a severe problem statewide that needed to be addressed. Republican candidates Tom Corbett and Sam Rohrer did not attend the forum.

The statements by the Democratic candidates for PA governor in support of stronger gun laws represent another significant step forward in the growing movement for such reforms led by CeaseFirePA. They also come just as CeaseFirePA announced plans today to make gun violence prevention and the passage of reforms to toughen PA gun laws an issue in the governor’s race.

Lost or stolen wasn’t the only gun violence prevention reform supported by the gubernatorial candidates at Friday’s forum, sponsored by Keystone Progress at the Pennsylvania Progressive Summit 2010. Onorato, Allegheny County Executive; Hoeffel, Montgomery County Commissioner; and Doherty, Mayor of Scranton, all also came out in favor of a child safety lock requirement for handguns, and for allowing Pennsylvania municipalities to enact gun laws specific to the needs of their own communities. Hoeffel and Doherty also backed proposals limiting purchase of handguns to one per month.

In the last year and a half, 25 Pennsylvania cities and towns have taken action and voted in support of lost or stolen handgun reporting. A coalition of Pennsylvania Mayors Against Illegal Guns has grown from a half-dozen mayors to a large, diverse, growing group of more than 150. Similar coalitions of Pennsylvania police chiefs and faith leaders now include nearly 100 chiefs and 275 faith leaders, respectively.

Comments on New US Budget

Congresswoman Allyson Schwartz:

“Last year President Obama and Democrats in Congress took immediate action to stabilize our economy and make important investments for our future prosperity. We provided relief to millions of American families and businesses struggling from the economic recession. We passed 25 different tax cuts including the broadest middle class tax cut in history, which helped 110 million families. We made critical investments in transportation infrastructure and local governments to help create jobs and spur economic growth. As a result, two million Americans are working right now who would otherwise be unemployed.

“One year later, our economy has stabilized and in the last quarter of 2009 the economy grew by 5.7 percent, the largest growth in six years.

“However, many Americans are still out of work and facing difficult economic times. It is important that we continue to focus our efforts on creating jobs in the private sector and rebuilding the economy for the long-term. At the same time, we must also address our nation’s budgetary challenges and begin to work to reduce the federal deficit.

“The President’s budget puts a renewed focus on job creation in the private sector by providing tax credits for small businesses that hire new workers. It boosts America’s middle class by extending middle class tax cuts, expanding financial aid for students, and improving retirement security. By directly investing in education, infrastructure, science, technology and research, we will spur job growth and build the industries of the future, enabling us to compete in a global economy.

“I am particularly pleased with the president’s decision to include a Healthy Fresh Food Financing Initiative (HFFI), a measure I have worked hard to create. In December 2009, I introduced a resolution in Congress to create an HFFI to increase access to healthy food for urban and rural Americans. In Pennsylvania, a similar initiative established more than 70 grocery stores and created nearly 5,000 jobs. The president has included more than $400 million in funding for this important initiative.

“The President’s budget takes substantial measures to reduce the deficit. It cuts the deficit in half from $1.5 trillion in 2010 (10.6 percent of GDP) to $727 billion in 2013 (4.2% of GDP). It calls for the creation of a bipartisan debt commission to develop proposals to bring down the deficit further. It cuts or eliminates 126 programs that are currently not working, resulting in $20 billion in savings for the coming fiscal year. And, I am pleased that the House will likely vote to reinstate statutory pay-as-you-go legislation later this week, which helped turn record deficits into record surpluses in the 1990’s.

“President Obama’s budget strikes a balance between meeting our budgetary challenges and implementing measures

PA-OFA:

Elizabeth Lucas, Organizing for America (OFA)-Pennsylvania State Director, issued the following statement in response to President Barack Obama’s fiscal year 2010 budget proposal released yesterday:

“Thanks to the steps taken by the Administration in the past year, our economy has moved from recession into recovery. The budget proposed by President Obama today ensures we keep America moving in the right direction by making critical investments in jobs and education while curbing government spending in the long-term.

“With middle-class families and businesses across the country continuing to manage through these tough economic times, the President’s budget ensures our nation has the necessary tools for future success with investments in education, clean energy, infrastructure, and innovation. At the same time, the President’s budget ensures we rein in spending growth so that it never threatens our government’s stability or global standing.

“OFA applauds the President for continuing to make tough decisions to invest in America’s future.”

Pres. Obama:

Good morning, everybody. This morning, I sent a budget to Congress for the coming year. It's a budget that reflects the serious challenges facing the country. We're at war. Our economy has lost 7 million jobs over the last two years. And our government is deeply in debt after what can only be described as a decade of profligacy.

The fact is, 10 years ago, we had a budget surplus of more than $200 billion, with projected surpluses stretching out toward the horizon. Yet over the course of the past 10 years, the previous administration and previous Congresses created an expensive new drug program, passed massive tax cuts for the wealthy, and funded two wars without paying for any of it -– all of which was compounded by recession and by rising health care costs. As a result, when I first walked through the door, the deficit stood at $1.3 trillion, with projected deficits of $8 trillion over the next decade.

If we had taken office during ordinary times, we would have started bringing down these deficits immediately. But one year ago, our country was in crisis: We were losing nearly 700,000 jobs each month, the economy was in a free fall, and the financial system was near collapse. Many feared another Great Depression. So we initiated a rescue, and that rescue was not without significant cost; it added to the deficit as well.

One year later, because of the steps we've taken, we're in a very different place. But we can't simply move beyond this crisis; we have to address the irresponsibility that led to it. And that includes the failure to rein in spending, as well a reliance on borrowing –- from Wall Street to Washington to Main Street –- to fuel our growth. That's what we have to change. We have to do what families across America are doing: Save where we can so that we can afford what we need.

Now, I think it's very important to understand: We won't be able to bring down this deficit overnight, given that the recovery is still taking hold and families across the country still need help. We will continue, for example, to do what it takes to create jobs. That's reflected in my budget; it's essential. The budget includes new tax cuts for people who invest in small businesses, tax credits for small businesses that hire new workers, investments that will create jobs repairing roads and bridges, and tax breaks for retrofitting homes to save energy.

We also continue to lay a new foundation for lasting growth, which is essential as well. Just as it would be a terrible mistake to borrow against our children's future to pay our way today, it would be equally wrong to neglect their future by failing to invest in areas that will determine our economic success in this new century.

That's why we build on the largest investment in clean energy in history, as well as increase investment in scientific research, so that we are fostering the industries and jobs of the future right here in America.

That's why I've proposed a more than 6 percent increase in funding for the Education Department. And this funding is tied to reforms that raise student achievement, inspire students to excel in math and science, and turn around failing schools which consign too many young people to a lesser future -- because in the 21st century there is no better anti-poverty program than a world-class education.

And that's why we eliminate a wasteful subsidy to banks that lend to college students, and use that money to revitalize community colleges and make college more affordable. This will help us reach the goal I've set for America: By 2020 we will once again have the highest proportion of college graduates in the world.

These are the investments we must make to create jobs and opportunity now and in the future. And in a departure from the way business had been done in Washington, we actually show how we pay for these investments while putting our country on a more fiscally sustainable path.

I've proposed a freeze in government spending for three years. This won't apply to the benefits folks get through Social Security, Medicaid, or Medicare. And it won't apply to our national security –- including benefits for veterans. But it will apply to all other discretionary government programs. And we're not simply photocopying last year's budget; freezing spending does not mean we won't cut what doesn't work to pay for what does.

We have gone through every department's spending line by line, item by item, looking for inefficiency, duplication, and programs that have outlived their usefulness. That's how we freeze discretionary spending. Last year, we found $17 billion in cuts. This year, we've already found $20 billion.

Now, some of these cuts are just common sense. For example, we cut $115 million from a program that pays states to clean up mines that have already been cleaned up. We're also cutting a Forest Service economic development program that strayed so far from any mission that it funded a music festival. And we're saving $20 million by stopping the refurbishment of a Department of Energy science center that the Department of Energy does not want to refurbish.

Other cuts, though, are more painful, because the goals of the underlying programs are worthy. We eliminate one program that provides grants to do environmental clean up of abandoned buildings. That's a mission I support, but there are other sources of private and public funds to achieve it. We also eliminated a $120 million program that allows folks to get their Earned Income Tax Credit in advance. I am a big supporter of the Earned Income Tax Credit. The problem is 80 percent of people who got this advance didn't comply with one or more of the program's requirements.

So I'm willing to reduce waste in programs I care about, and I'm asking members of Congress to do the same. I'm asking Republicans and Democrats alike to take a fresh look at programs they've supported in the past to see what's working and what's not, and trim back accordingly.

Like any business, we're also looking for ways to get more bang for our buck, by promoting innovation and cutting red tape. For example, we consolidate 38 separate education programs into 11. And last fall, we launched the "SAVE Awards" to solicit ideas from federal employees about how make government more efficient and more effective. I'm proud to say that a number of these ideas -- like allowing Social Security appointments to be made online -- made it into our budget.

I also want to note even though the Department of Defense is exempt from the budget freeze, it's not exempt from budget common sense. It's not exempt from looking for savings. We save money by eliminating unnecessary defense programs that do nothing to keep us safe. One example is the $2.5 billion that we're spending to build C-17 transport aircraft. Four years ago, the Defense Department decided to cease production because it had acquired the number requested -- 180. Yet every year since, Congress had provided unrequested money for more C-17s that the Pentagon doesn't want or need. It's waste, pure and simple.

And there are other steps we're taking to rein in deficits. I've proposed a fee on big banks to pay back taxpayers for the bailout. We're reforming the way contracts are awarded, to save taxpayers billions of dollars. And while we extend middle-class tax cuts in this budget, we will not continue costly tax cuts for oil companies, investment fund managers, and those making over $250,000 a year. We just can't afford it.

Finally, changing spending-as-usual depends on changing politics-as-usual. And that's why I've proposed a bipartisan fiscal commission: a panel of Democrats and Republicans who would hammer out concrete deficit reduction proposals over the medium and long term, but would come up with those answers by a certain deadline. I should point out, by the way, that is an idea that had strong bipartisan support, was originally introduced by Senators Gregg on the Republican side and Conrad on the Democratic side; had a lot of Republican cosponsors to the idea. I hope that, despite the fact that it got voted down in the Senate, that both the Republican Leader Mitch McConnell and the Republican Leader in the House John Boehner go ahead and fully embrace what has been a bipartisan idea to get our arms around this budget.

That's also why we're restoring pay-as-you-go: a simple rule that says Congress can't spend a dime without cutting a dime elsewhere. This rule helped lead to the budget surpluses of the 1990s, and it's one of the most important steps we can take to restore fiscal discipline in Washington.

You can read more about the budget at budget.gov -- very easy to remember -- budget.gov. But the bottom line is this: We simply cannot continue to spend as if deficits don't have consequences; as if waste doesn't matter; as if the hard-earned tax dollars of the American people can be treated like Monopoly money; as if we can ignore this challenge for another generation. We can't.

In order to meet this challenge, I welcome any idea, from Democrats and Republicans. What I will not welcome -– what I reject -– is the same old grandstanding when the cameras are on, and the same irresponsible budget policies when the cameras are off. It's time to hold Washington to the same standards families and businesses hold themselves. It's time to save what we can, spend what we must, and live within our means once again.

An Open Note to Marvel Comics

Dear Stan Lee @ Co.,

I strongly object to Spidey, Thor, Capt. America, Iron Man, and the Hulk being used in ads for Bank of America / Merrill Lynch. It's against everything they stand for! What's next Jean Grey, Janet Van Dyne, and the Scarlet Witch?

Mid-County Delco Dems Candidate Forum

Sunday evening I attended the Mid-County Delaware County Democrat’s candidates’ forum. This is a well-run event, this year and previous years that I’ve attended. Kudos to the organizers. Candidates for a number of offices gave short presentations. It may not be much fun for them but for voters (and other interested parties) it is a great chance to see and hear a lot of people in one sitting.

There was a good turnout. Someone with better math skills than mine said there were 150 people there. Bill Thomas acted as master of ceremonies.

Here are my notes. Apologies in advance for any errors or misconceptions.

Walter Waite, 161st state house district (currently held by Bryan Lentz who is running for congress). Waite is a Navy veteran, having served in the Middle East and Viet Nam. He retired last June and intended to take it easy but then he met Bryan Lentz. Waite has been to Harrisburg four times and “walked around the Capitol with my eyes open to see how things work.” His main goal is to get people back to work. Personal observations: Waite is impressive. He has a distinguished appearance and an air of calm authority. He speaks well and sounds intelligent, capable, rational, and business-like. I wish him well.

Joe Hoeffel, governor. He is running because he wants to challenge state government to do better, to challenge people to understand our best days are ahead of us. The Democratic Party must find and hold the progressive center. He is socially liberal and fiscally responsible. Hoeffel would invest in job creation, public schools, respond to people’s needs, expand community colleges, and health care. He would work hard to represent all of us. Other priorities are environmental protection. The Marcellus Shale extraction process must produce clean water. Personal observations: Hoeffel was in good form this evening. He spoke well.

Chris Doherty, governor. Doherty provided some biographical information. He took office in Scranton eight years ago. The city was not in good shape then but was recently cited by both Business Week and Money Magazine as a good place to live or do business. He paved streets, invested in parks and public schools. Our coal, steel, railroads and concrete built this country. We have to invest in ourselves. We turn the state around in our cities and town. He has the record to make a difference. He is building the first new medical school in Pennsylvania in 50 years in downtown Scranton. He invites people to visit him on “face page.” Personal observations: This was the first time I’d had the opportunity see and hear Doherty. I heard him talking baseball with some people before the event started. To my uneducated ear it sounded like he was holding his own. During his presentation he spoke well and gave a good account of his accomplishments.

Bob Brady, whose first congressional district represents a small part of Delaware County came up to introduce the two lt gov candidates. He told a few jokes that were actually funny. He did a good job introducing Doris Smith-Ribner but his affection for and long history with Jonathan Saidel were evident.

Doris Smith-Ribner, lt governor. Appointed to the Court of Common Pleas in 1985, ran for the office and lost. In 1987 ran for the state Commonwealth Court, won, and stayed there for 20 years, retiring in 2007. She was not endorsed by the Democratic Party when she ran. She would use her position as a bully pulpit. Personal observations: I was impressed! Smith-Ribner has a very polished appearance and is a dynamite speaker, very crisp and professional.

Jonathan Saidel, lt gov. Being elected means people take a little bit of their power and give it to you. He has a high vote %, got 90% of the vote in Philadelphia. His approval rating is 93% in Philadelphia and surrounding counties. He made a positive effect on people and on those not yet born. He never dealt with anything but positive change. In favor of making a change in people’s lives. Will work 24 hours a day.

Dan Onorato surrogate Calvin Skinner, gov. SEPA field director for Onorato. Dan Onorato was elected by 1.2 million people, more than any other office except for governor and Philadelphia mayor. He oversees a $770 million budget, the port authority, and transportation system. He brought $10.8 billion to the region. The other candidates talk about millions but the state budget is in billions. Onorato is bringing steel manufacturing to the area. He is committed to a progressive agenda, pro-choice, would not change state law on this topic, committed to civil unions. Committed to fully funding education according to formula. Use education as a partner with business. Most detailed policy statements on the web. Personal observations: Skinner was a great speaker and the only speaker who gave out the campaign site URL during their talk. Smart move.

Joe Sestak, senate. Asked to run by Senators Menendez and Casey. Totally disagree with Democratic establishment that you can embrace someone who [long list of things Arlen Specter has done]. What did that 60th vote get us? Respects Specter but disagrees. Disagrees with Democratic establishment that makes deals like that with Ben Nelson. did not gain White House through dealmaking but through audacity. Politics over principles has got to change. Personal observations: Sestak was on fire, the first candidate to skip using the microphone and walking into the aisles of the audience.

Arlen Specter surrogate Congressowoman Marjorie Margolies, senate. Since this is Sestak’s congressional district she was told she would feel a little like Jack Kevorkian at an AARP meeting. Specter was the 60th vote for the stimulus. NARAL supports Specter. lists others, could go on and on. Toomey has a 97% record with the American conservative [missed last word], Santorum only had 88?%. Specter is in the center, the moderate middle. Personal observations: She did a good job.

Mike Farrell, 26th state senate district. Ran last time and got 48% of the vote. If a Navy admiral doesn’t need a microphone then an Army lieutenant doesn’t either. We need to finish the job. Politics is not about a pendulum swinging back and forth but about compasses. Challenges everyone to get more involved. We need to be unified in message.

Margo Davidson, 26th state senate district. Has a theater background, doesn’t need a microphone. Worked for Obama’s campaign and candidates all over the area. Public service is not a right but a privilege. [Current state senator] Erikson no longer represents the district. She has started two non-profits. Believes in public service, passionate about small businesses.

Teresa Touey, 7th congressional district. Spoke on the Massachusetts election, not a message, disagrees with Sestak on that. quotes a NYT column on the State of the Union address. Talks about Bush. Quotes something her postman told her.

Gail Connor, 7th congressional district. Will be your voice. Mother of 3 children. businesswoman for 21 years, environmental professional and lawyer. Time for halls of congress to have someone with my background in business. Wants to create jobs. Will seek out real estate professionals to help with abandoned buildings. Son graduated from college, had trouble finding a job and can no longer be on parents’ health insurance. In favor of a public option for health care. Create public boarding school for promising kids from dangerous areas. Plugs her book.

Bryan Lentz, 7th congressional district. First job out of college was in the Airborne Rangers. worked in district attorney’s office, a history of public service. People of 7th district deserve a say in what kind of country they have. We haven’t solved a big problem in this country in some time. let’s start with health care. Starts a call and reply with audience, “do we want to live in a country that …” “No!” mentions health care, a constituent who was denied health care because she had polio in 1952, energy dependence, greed rules the day. Who is for the status quo – those who profit from it. Fight is not Democratic versus Republican, but progress versus status quo, people versus profit and power. “I’m not afraid of anybody. I have the truth on my side." Personal observations: Lentz was in rare form and really had the audience fired up. He’s a big guy and it makes an impression when he thumps the podium for emphasis.

Final note: My thanks to the gentleman who went out of his way to invite me.

Blogger's note: In another case of "don't blog late into the night" I discovered a number of typos in this post this morning and have corrected them, though some may have escaped my notice. sorry about that.

Some WSJ Notes

A few notes from the Wall Street Journal over the past week or so:

"Pennsylvania mortgage relief wins fans," by Ruth Simon 1/26

Pennsylvania's program is geared toward providing short-term aid to borrowers suffering from temporary hardship such as job loss. it helps homeowners meet the terms of the existing mortgage with separate, below-market rate loans.

"States weigh judicial recusals," by Nathan Koppel 1/26

more states re responding to a longstanding concern that elected judges risk the appearance of bias when they hear cases involving their campaign contributors. But recent examples from Wisconsin and Nevada show that some states are reluctant to force some judges to disqualify themselves from cases solely because they have received large contributions.

St. Onge Co., a "small supply-chain consulting firm in York, Pa," gets a mention in "Expanding abroad? Avoid cultural gaffes," by Emily Maltby 1/19. St. Onge learned from experience when developing a partnership in Moscow.

From "Souring mortgages, weak market put loan agency on a tightrope," by Nick Timiraos 1/19:

At a conference in November, Robert Toll, chief executive of luxury-home builder Toll Brothers, Inc., referred to the FHA as "the new subprime" and "a defninte train wreck" that will soon need a bailout, according to a transcript of his remarks.

From "BofA's Moynihan gets a 19% raise," by Dan Fitzpatrick 1/28 we learn that Brian Moynihan will be earning $950,000 from his base pay in 2008. Still it is less than the previous CEO of Bank of America, whose base salary was $1.5 million. Honestly, how can he manage on such a paltry sum.

Center of Nerd Universe: PA

Nerd Merit Badges, my new favorite Pennsylvania small business, is located in West Chester. Check out all the currently available merit badges and the nifty laptop sash at www.nerdmeritbadges.com

PA in Feb 2010 Fast Company

On Friday I finished reading the February issue of Fast Company. There were three Pennsylvania notes:

Anil Dash, director of Expert Labs, grew up in Harrisburg. His first job is described as "As a kid in Harrisburg, Pennsylvania, Dash helped build a computerized grading system for a neighbor who was a community-college professor."

A note on museum admission tags includes a graphic of those little things you clip to your lapel. The Philadelphia Museum of Art's tags are included.

In an article on Volkswagon is it noted that VW's first U.S. factory was in New Stanton, Pennsylvania in 1978.