January 17, 2013

Before you trash it, wear it out

I’ll hold onto socks until the toes have gaping holes in them. I will wear t-shirts until they’re beaten into oblivion. I’ll use razor blades until I’m scared I’m going to badly cut my neck or cheeks with them (and with a razor blade sharpener, that takes a good long time). I’ll use a toothbrush until it’s bordering on scary.

For me, it’s not really a matter of saving money, though that’s certainly a bonus. It’s more of a matter of not throwing things away until I actually need to do so. A pair of socks worn another time is a pair of socks not yet tossed into a landfill somewhere, after all.

I often turn this into a personal challenge. How many uses can I get out of this razor blade? Can I get another wear out of these socks before Sarah has a fit?

When you start carrying that philosophy to more and more of the things you own, you begin to change your approach toward your possessions.

http://www.csmonitor.com/Business/The-Simple-Dollar/2013/0116/Before-you-trash-it-wear-it-out?nav=89-csm_category-storyList

January 17, 2013

Industrial production rises in December

Today, the Federal Reserve released their monthly read of industrial production and capacity utilization showing an increase in December with total industrial production rising 0.26% since November and rising 2.25% above the level seen in December 2011.

Capacity utilization also rose 0.12% from November and climbing 0.61% above the level seen in November of 2011 to stand at 78.78%

It's important to recognize that though the "recovery" is well over two years old, both industrial production and capacity utilization are notably below the peaks set in late 2007.

http://www.csmonitor.com/Business/Paper-Economy/2013/0116/Industrial-production-rises-in-December?nav=89-csm_category-storyList

January 17, 2013

More conservatives plead with GOP to abandon debt-ceiling ultimatum

The threat by congressional Republicans not to raise the debt ceiling – possibly allowing the United States to go into default – doesn't seem to be scaring President Obama, at least based on his ongoing refusal to negotiate on the matter.

But it is clearly scaring many members of their own party.

With the US likely to hit the limit on its borrowing authority as early as mid-February, more and more Republicans are publicly beseeching their party to drop the game of chicken – calling it both bad policy and bad politics – and focus instead on other, less-risky opportunities to push for spending cuts.

As the GOP begins a three-day retreat Wednesday to plot out legislative strategy, The Wall Street Journal reports that party leaders have grown "anxious" about the debt-ceiling standoff, writing that some members are worried "about the economic impact of the government's possibly missing some payments."

http://www.csmonitor.com/USA/DC-Decoder/Decoder-Wire/2013/0116/More-conservatives-plead-with-GOP-to-abandon-debt-ceiling-ultimatum?nav=87-frontpage-entryNineItem

January 17, 2013

U.S. Navy minesweeper runs aground off Philippines

A U.S. Navy minesweeper, the USS Guardian, ran aground in the Sulu Sea off the Philippines on Thursday, and was stuck on a reef, the Navy said.

No one was injured in the incident, which occurred at 2:25 a.m. local time on Tubbataha Reef about 80 miles east-southeast of Palawan Island, in the Philippines, the Navy said. There were no reports that any fuel leaked from the vessel.

The ship, with a crew of 80, had just completed a port call at Subic Bay in the Philippines, when the grounding occurred.

http://www.reuters.com/article/2013/01/17/us-usa-navy-grounding-idUSBRE90G06H20130117

January 16, 2013

'Revolving door' swings freely in America's statehouses; anything goes in some states

On Oct. 26, 2011, the Illinois legislature passed a bill that authorized construction of a multi-billion-dollar smart grid and reshaped how utility companies seek approval for raising electricity rates. Consumer groups opposed the measure, saying it was a handout to utilities.

But the final blow for opponents came three months later when former state Rep. Kevin McCarthy, D-Orland Park, who had pushed the bill through the legislature only to resign after winning its passage, registered his own lobbying firm and signed his first clients. Prominent among them: Commonwealth Edison, one of the state’s largest utilities.

“It’s hard to believe that there wasn’t a quid pro quo for this,” said Scott Musser, an Illinois lobbyist for AARP, which opposed the bill.

McCarthy declined to comment. And despite the potential conflict of interest, his move seems to have been in full compliance with state ethics laws. In Illinois and 14 other states, there aren’t any laws preventing legislators from resigning one day and registering as lobbyists the next, according to data compiled by the National Conference of State Legislatures.

https://www.stlbeacon.org/#!/content/28889/revolving_door_state_cpi?coverpage=2539

January 16, 2013

St. Louis, MO Local real estate company looking to hire more employees

Just one little sign of improvement, but a sign nonetheless.

(KMOV.com) – The improving real estate market means one local real estate company is looking to hire more employees.

Keller Williams is looking for 40 additional real estate agents. Employees at the agency say the real estate market is up 13% in the St. Louis area and up 20% in St. Charles. They are also seeing another encouraging sign for the market.

“Housing prices are starting to inch up just a smidge and interest rates are still incredibly low so it's really a great time to buy,” said Keller Williams’ Real Estate’s Kelly Hager.

The company is hoping to hire its new employees by the end of February. It will be holding a job fair on Jan 18.

http://www.kmov.com/news/local/Local-real-estate-company-looking-to-hire-more-employees-187059021.html

January 16, 2013

January 16, 1786 – Virginia enacted the Statute for Religious Freedom authored by Thomas Jefferson.

An Act for establishing religious Freedom.

Whereas, Almighty God hath created the mind free;

That all attempts to influence it by temporal punishments or burthens, or by civil incapacitations tend only to beget habits of hypocrisy and meanness, and therefore are a departure from the plan of the holy author of our religion, who being Lord, both of body and mind yet chose not to propagate it by coercions on either, as was in his Almighty power to do,

That the impious presumption of legislators and rulers, civil as well as ecclesiastical, who, being themselves but fallible and uninspired men have assumed dominion over the faith of others, setting up their own opinions and modes of thinking as the only true and infallible, and as such endeavouring to impose them on others, hath established and maintained false religions over the greatest part of the world and through all time;

http://en.wikipedia.org/wiki/Virginia_Statute_for_Religious_Freedom

January 16, 2013

MO House panel OKs bill curbing governor's power to fill statewide vacancies

Legislation significantly altering the way statewide vacancies would be filled appears to be on the fast track in the Missouri House.

The House Elections Committee on Tuesday approved House Speaker Pro Tem Jason Smith’s legislation that would curb the governor's power to fill any vacancies that occur in other statewide offices.

The bill would allow the governor to appoint temporary officeholders for lieutenant governor, secretary of state, attorney general, state auditor state treasurer and United States Senator.

But Smith’s bill would require the governor to call a special election to permanently fill a statewide vacancy. To save money, the election would be at the same time as a scheduled general election.

https://www.stlbeacon.org/#!/content/28892/smith_statewide_vacancies_011513?coverpage=2539

For those outside of Missouri, The GOP is afraid of losing the Lt. Gov's slot when Kinder runs to replace Congressional Representative Emerson who announced her retirement just after being re-elected in 2012.

January 16, 2013

Clay named top Democrat on expanded financial services panel

WASHINGTON – In the new Congress, U.S Rep. William Lacy Clay has been named the top Democrat on a revamped financial services panel with jurisdiction that includes the Federal Reserve Bank, the Export-Import Bank and the World Bank.

Clay, D-St. Louis, served in the previous Congress as the ranking Democrat on a less expansive subcommittee with oversight over the Fed and domestic monetary policy. But the new panel – the Subcommittee on Domestic & International Monetary Policy and Technology – adds oversight of major international monetary organizations.

That is likely to be of considerable interest among some big firms with operations in St. Louis, such as Boeing Co., which has been the largest beneficiary of the Export-Import Bank’s guaranteed loans in recent years.

In a statement Tuesday, Clay said the revamped subcommittee “will greatly impact the economic health of our nation and the world. Our focus will be growing jobs, expanding international trade, keeping interest rates low and restoring economic security for working families.”

https://www.stlbeacon.org/#!/content/28899/clay_financial_committee?coverpage=2536

January 14, 2013

Reps. Pressure Wal-Mart in Bribery Case

WASHINGTON — Top executives at Wal-Mart Stores knew of bribery allegations regarding a controversial store it built in Teotihuacan, Mexico, as far back as 2005, two U.S. Representatives here said Thursday.

U.S. Reps. Elijah E. Cummings, D-Md., and Henry A. Waxman, D-Calif., said they have obtained documents including memos and email correspondence from a confidential source indicating that Mike Duke, Wal-Mart’s chief executive officer, and other senior Wal-Mart executives “were personally informed about these bribery allegations on multiple occasions,” which they said contradicted the retailer’s prior claims.

Wal-Mart according to published reports said Thursday it has already provided the same documents to federal investigators.


Read More: http://supermarketnews.com/retail-amp-financial/reps-pressure-wal-mart-bribery-case#ixzz2HwJy25UZ