ComEd Plans For Energy Reform
Posted on 26. Apr, 2011 by citizen in Community Focus
ComEd is seeking support from community leaders and business owners to plan a major overhaul in its electrical delivery system. The company says the century old system is in need of critical reform. Last week, ComEd hosted an informational event about the renovated grid in conjunction with the Chatham Business Association (CBA) and Cosmopolitan Chamber of Commerce at the QBG Foundation, 806 E. 78th Street. The event allowed the company to meet with community leaders and business owners to help inform the public of the proposed new grid. Attending the meeting from left to right were: Angel Perez (ComEd); Bill Garth (Citizen); Larissa Tyler (QBG); Bonita Paker (ComEd); Melinda Kelly (CBA); John Hooker (ComEd); Joe Caldwell (CBA); John Steinbreaker (Best Buy); Carnice Carey and Leon Pass (Cosmopolitan Chamber of Commerce.) Photo by Jerome Photography.
by Thelma Sardin
With increasing technological advancements such as cellular phones, laptops and digital music players, there is an increasing demand for sufficient and reliable energy to power the products that keep society moving.
The current electrical grid ComEd utilizes is 100 years old. The company wants to reform energy delivery to customers with a modernized, digital grid. The new grid will be composed of Smart Meters that wirelessly communicate with ComEd and allow customers to monitor their energy usage.
“We want to thank you as business owners [and] community stakeholders. We appreciate you taking the leadership in the community [and] taking the information back to our community,” said Melinda Kelly, executive director of the Chatham Business Association (CBA). Last week, ComEd hosted an informational event about the renovated grid in conjunction with the CBA and Cosmopolitan Chamber of Commerce at the QBG Foundation, 806 E. 78th Street. The event allowed the company to meet with community leaders and business owners to help inform the public of the proposed new grid. Kelly added, ComEd’s goal is to provide cost saving services and that the grid would help update infrastructure.
Several elected officials attended the event including Aldermen JoAnn Thompson (16th) and Willie Cochran (20th), former 28th Ward Alderman Ed Smith and State Representative Marlow Colvin.
Much of the century old electrical grid has not been upgraded since 1970. ComEd says the analog system is struggling to serve a digital age.
“We need to modernize our system,” said John Hooker, executive vice president, legislative and external affairs of ComEd. “We have an analog system, it’s performing, but this is a digital world.”
ComEd plans to execute the proposed overhaul with the Energy Infrastructure Modernization Act (HB 14). HB 14 is a piece of legislation currently under consideration in the Illinois General Assembly that would allow Illinois to make major investments in its electric grid over the next decade so that it can meet the demands of the 21st century economy and changing needs of business and residential customers, according to a ComEd release.
“We at ComEd continue to try to be a leader in the community. We need your help,” said Hooker. He hopes community leaders and business owners will delegate their legislators to help support HB 14.
ComEd is planning to switch its century old electrical grid to a digital system. The company hopes to replace all of its antequated meters with a Smart Meter that is pictured here. Smart Meters communicates wirelessly with ComEd and helps customers monitor energy usage. (Photo by Thelma Sardin)
ComEd is seeking support from community leaders and business owners to plan a major overhaul in its electrical delivery system. The company says the century old system is in need of critical reform. (Photo Credit: ComEd)
ComEd says if HB14 is passed, it could produce 2,000 jobs and will include enhanced economic competitiveness for Illinois. The bill also includes a $2.6 billion investment that will be used over the next 10 years to install Smart Meters in every home, reform electrical infrastructure and reform how the Illinois Commerce Commission regulates utilities.
Under the current grid, customers must call ComEd if they experience an outage. With a new modern grid, ComEd will be notified of outages by the Smart Meters through a wireless signal.
ComEd also estimates that 4.6 million outages can be avoided and hundreds of millions of dollars can be saved with the digital grid.
The new grid does come with a slight rate hike. ComEd says customers could see an increase up to$3.00 a month depending on their energy usage. Hooker described the increase as “$36 a year, $3 a month and 10 cents per day.”
Some Illinois leaders including AARP Illinois Senior State Director Bob Gallo have opposed HB 14 and say the bill is not as beneficial as it appears. However, the bill’s sponsor, State Representative Kevin A. McCarthy, is optimistic all Illinoisans will benefit. “Just as the Illinois General Assembly was the catalyst for a new era of telecom innovation and customer benefits, the same must be done for our electric infrastructure. I am confident that all parties can come together on a package that has both consumer protections and a mandate to our utilities to invest in Illinois’ economic competitiveness and growth,” McCarthy, said in a release.
For more information about HB 14 or the modernized grid please log on to smartenergyil.com
The Siege of Chicago State University
Posted on 26. Apr, 2011 by citizen in Community Focus
CSU President Dr. Wayne Watson
by Hermene D. Hartman
The Chicago Tribune recently ran a front-page story on Chicago State University (CSU) and its fiscal audit deficiencies. The story cites a recent audit that found 41 “audit findings.”
Chicago State has been in a turnaround mode since Dr. Wayne Watson took the helm.
In previous administrations, there was clearly mismanagement of funds where the president had questionable expenses. One president, for instance, charged cruise trips for her family back to the school.
What’s interesting is that the Tribune forgot to report that the University of Illinois, in the same audit period, had 43 “audit findings,” yet not one word, let alone a front-page headline, was written on the same.
There is something that has not come out in the press, because Watson thinks it should not be revealed.
But this single fact speaks to his integrity, strength, true grit, determination, and dedication to the CSU in particular and education in general.
Watson has been in a sea of controversy since he “applied” for the presidential position; he has been called everything from a political insider to a crony.
But Watson has worked, on average, 12 to 18 hour days including weekends, for the students and faculty at Chicago State University — with no pay.
Because of technical difficulties and legal complications with the State of Illinois regarding his pension, Watson worked for over a year and a half with no paycheck.
Crazy or dedicated?
He has been on a mission. I don’t know many who would have worked with his fervor and passion for no pay. He is underpaid.
Watson’s commitment to the “audit findings” is to assume full responsibility to address and resolve each issue as he moves the university forward. In place is a “Corrective Action Plan” that insures that the findings are resolved.
The audit has raised questions about fiscal matters existing prior to Watson’s tenure.
The audit began in the summer of 2009. Watson assumed the presidency of Chicago State in October of 2009.
So, the audit period is not entirely his; some of the citations belong to the previous administration and it is totally unacceptable to “blame” Watson for things that happened before his tenure. His team was put into place by March of 2010.
Watson has been attacked in the media for some of the people he has fired at CSU as he has challenged what amounts to political patronage and political employment at the school.
Dealing with political patronage is always challenging, but rather than being applauded, Watson has been media scorned for his professional efforts to make Chicago State more productive and efficient.
Upon taking his position, he walked into an educational fire. The triage of academic challenges threatened the life of the university with accreditation issues, financial mismanagement and human resources, with limited controls.
Watson was on his way to a life of retirement after leaving the City Colleges of Chicago as its long-time chancellor when the CSU Presidency came about.
Friends and community and business leaders urged him to apply, recognizing his educational record and knowing the reality of the trend at CSU.
The trend is that the school was being postured for a takeover by another state school, or a land grab, and it may not have continued to serve the African-American community as it has.
The student population of Chicago State is an older working student who typically has a family and who might be the first in his/her family to graduate.
The typical student may not go to school continuously but may come and go for a semester or a year due to family and/or work challenges that are usually financially based.
The reality of Watson’s CSU tenure is that the morale on campus has moved from negative to positive, and freshman student enrollment has increased.
The rates of retention and graduation have increased. Faculty and administration have been right sized. Incompetence has not been tolerated.
The worse misconception of the audit report states that students were not being billed for tuition during the spring semester.
Actually, the billing process was undergoing a transformation of notification from paper to electronic and the actual collection of tuition and fees increased.
Some of the audit findings were found from internal self discovery and brought to the attention of the state auditors by Chicago State University staff itself and corrective actions were in progress, prior to the state audit.
Watson’s administration gave incoming freshmen ipads, providing students with the capacity to download books rather than hard copies.
CSU graduates nearly 20 percent of African-American students attending a public university in the state. The federal government has cut Pell grants and in these hard times, Chicago State University students will be hit hard by the Pell grant cuts.
State legislators have called for a hearing resulting from the Tribune story. I hope they also call for one for the University of Illinois and their audit findings, which were more than Chicago State’s.
Indeed, we need accountability and responsibility in state funding, but the context and accuracy of the findings should be fair and honest and then let the chips fall where they may.
Rap Music Inspires Libyan Rebels to Defeat Gadhafi
Posted on 26. Apr, 2011 by citizen in Entertainment
``Rap is more popular than rock and country among the young people in Libya because it expresses anger and frustration,'' said al-Obeidi.
by Sebastian Abbot
AJDABIYA, Libya (AP) – Libyan rebel fighter Jaad Jumaa Hashmi cranks up the volume on his pickup truck’s stereo when he heads into battle against Moammar Gadhafi’s forces.
He looks for inspiration from a growing cadre of amateur rappers whose powerful songs have helped define the revolution.
The music captures the anger and frustration young Libyans feel at decades of repressive rule under Gadhafi, driving the 27-year-old Hashmi forward even though the heavy machine gun bolted on the back of his truck and other weapons in the rebel arsenal are no match for Gadhafi’s heavy artillery.
“It captures the youths’ quest for freedom and a decent life and gives us motivation,” Hashmi said as he sat in his truck on the outskirts of the front line city of Ajdabiya. He was listening to “Youth of the Revolution,” which the rap group Music Masters wrote just days after the uprising began in mid-February.
“Moammar, get out, get out, game over! I’m a big, big soldier!” sang 20-year-old Milad Faraway, who started Music Masters with his friend and neighbor, 22-year-old Mohammed Madani, at the end of 2010.
Rather than grabbing AK-47s and heading to the front line with other rebels to fight Gadhafi’s forces, Faraway and Madani stayed in Benghazi, the de facto capital of rebel-held eastern Libya, and picked up a microphone.
“Everyone has his own way of fighting, and my weapon is art,” said Faraway, a geology student, during a recent recording session in a small room on the fourth floor of an aging apartment building in downtown Benghazi. The room was equipped with little more than a microphone, stereo and computer.
The room was decorated with a large red, black and green rebel flag and a framed photo of the Guns N’ Roses guitarist Slash. Faraway and Madani smoked cigarettes and sipped steaming glasses of sweet tea as they recorded lyrics for their latest song, a tribute to cities caught up in the revolution.
The freewheeling rap scene developing in Benghazi indicates how much has changed in eastern Libya in the past two months. Speaking out against Gadhafi before the rebellion used to mean prison and maybe even death. And rap, like other forms of Western culture, was despised by Gadhafi, who burned foreign musical instruments and books after he seized power in 1969.
“I always wanted to talk about Gadhafi’s mistakes and crimes, but we never had the chance for free speech,” said Madani, who is the son of a famous local singer in Benghazi and works part-time in his family’s cell phone and car parts shops. “All you could talk about was how good Gadhafi’s revolution was.”
Faraway, who like many rappers in Benghazi is known by his nickname, “Dark Man,” and Madani, aka “Madani Lion,” form the core of Music Masters, but the composition of the group has changed over time. One of the rappers quit just after the uprising started because he feared being targeted by Gadhafi’s thugs, Madani said. The group recently added 24-year-old Rami Raki, aka “Ram Rak,’” who grew up in Manchester, England.
Many of the songs that Music Masters and other groups have recorded in the past two months feature rapid fire lyrics reminiscent of Eminem. The lyrics ridicule Gadhafi and lambast him for his treatment of the country in the past four decades.
“Gadhafi, open your eyes wide and you will see that the Libyan people just broke through the fear barrier,” sang the group Revolution Beat in their song “17 February,” a reference to the so-called “Day of Rage” when protesters took to the streets in several towns and clashed with security forces.
Roughly a dozen rap songs recorded since the start of the rebellion have been put on CDs with rebel-inspired album covers and are available for sale in downtown Benghazi. One cover has a drawing of fighters on a captured Gadhafi tank flying the rebel flag.
Some of the songs mix Arabic and English, a testament to the American origins of rap. When the rappers perform in public, which is rare, they wear baggy pants, T-shirts and baseball caps typical of many American rappers.
Rap is not the only style of music that has been used to create anthems for the revolution, but Mutaz al-Obeidi, a 23-year-old member of Revolution Beat, said it was uniquely positioned to appeal to Libya’s youth.
“Rap is more popular than rock and country among the young people in Libya because it expresses anger and frustration,” said al-Obeidi, an English student, standing in a small recording studio in the official rebel media center in Benghazi that is used by Revolution Beat.
“The guys at the media center contacted us and said you guys have a rap group and we want rap to be part of the revolution,” said Youssef al-Briki, 24, who started Revolution Beat with Islam Winees, 21, in 2007, but originally called the group Street Beat.
Al-Briki, aka “SWAT,” works as a garbage man, and Winees, known as “A.Z.,” is a small-time businessman. Both have the tough-guy vibe of gangsta rappers and expressed admiration for Tupac Shakur, who was shot and killed in Las Vegas in 1996.
“He’s a real rapper. He’s a thug,” Winees said.
Al-Briki said he looks forward to writing the first song after Gadhafi is ousted.
What will it be called?
“Finally He Did It,” said al-Briki.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Harvey Park District to Rebuild Gloria Taylor Center
Posted on 26. Apr, 2011 by citizen in Community Focus
Located a few feet north of Thornton High School on 148th and Broadway in Harvey, this sign stands near the site of the soon to be rebuilt Gloria J. Taylor Center
by SheRico Jones
This past Thursday, the city of Harvey’s Park District held its monthly board meeting. One of the key items on the agenda was the re-building of the Gloria J. Taylor Banquet Hall & Recreation Center; which was burned down in the early part of last year.
The Gloria J. Taylor Center, which was located at 14821 Broadway in Harvey, was a supplemental source of income for the city; according to Park District Commissioner Brenda Thompson. The Taylor Center could seat up to 250 people and was available for rental for weddings, parties, repasts and other events. The fire department speculated that the cause of the fire was fireworks but Thompson begs to differ:
“I don’t believe that,” she said. “I think it was set on fire. That’s just my opinion.”
Two architectural companies, including Linden Group and Cody & Braun gave presentations to the board with the hopes of securing the contract to rebuild Taylor Center. Linden Group gave a presentation, complete with a rough floor plan, but when Cody & Braun was asked by the board’s attorney for creative input; a representative of Cody & Braun admitted that he had not visited the Taylor Center site prior to giving the presentation. The board was vocally displeased; fueling the residents’ disapproval.
“How can you make an educated presentation to us and you haven’t even seen the site” one resident demanded?
Later in the meeting, the board motioned and agreed to give the contract to the Linden Group.
According to Thompson, a $700,000 building fund has been established. “[That money] is only to be spent for building funds,” she stated. The insurance company will reimburse the city for the cost of replacing the building. This meeting was the first step in getting the Taylor Center replaced but no definite timeline has been established yet.
Also on the agenda was a briefing from the Senior Advisory Board. The senior board hosts a wide variety of events in the community including coat drives, shows and parties. They are the basis of the Harvey Park District, Thompson said. The seniors advised the park district board that they need new food carts for their events because the old ones were destroyed in the Taylor Center fire. After the board deliberated, Commissioner Eric Patterson said, “I don’t like all this back and forth when it comes to our seniors. You guys need a new cart? We’ll get you one.”
On April 5th elections were held and two of the five board members were not re-elected. President Keith Price and Vice President Yassim Ali will be replaced by Nannette Turner and Stafford Owens respectively.
“Even though I was not re-elected,” Ali stated at the end of the meeting. “I will still be around in some capacity.” Ali is also the president of The Harvey Little League.
In addition, board treasurer Barbara Moore was re-elected. New board members will be sworn in at the end of this month. Harvey Park District holds its monthly board meetings on the third Thursday of every month. Citizens are encouraged to attend.
Susan Smith Ross
Posted on 26. Apr, 2011 by citizen in Good Citizenship
Susan Smith Ross
Occupation: Civic and Community Leader
Why does she stand out?
Ross has given back to her community since childhood. As an adult, much of her service has been done through Alpha Kappa Alpha Sorority Inc. (AKA), a 103 year old international service organization, where she is a 36 year member.
It’s not unusual to see Ross volunteering at sorority events. She actively participates in her AKA chapter’s community expos that have provided free health screenings and school supply giveaways to residents.
On Apr. 2, Ross received the Gisele M. Casanova Leadership Award which recognizes a sorority member’s civic and community leadership positions outside of AKA. Ross’ civic roles include: 2008-2010 Windy City Chapter president of Jack and Jill of America, Inc. and she’s the Career Development Chair for the Black Women Lawyers Association of Chicago. “Volunteers provide a myriad of resources to uplift and sustain our communities,” she said. “Our work is often unknown and/or unsung but that doesn’t make it any less necessary,” she added.
Got Prom Dibs? Girls Use Facebook to Claim Dresses
Posted on 26. Apr, 2011 by citizen in Fashion
by Samantha Critchell
AP Fashion Writer
NEW YORK (AP) – Teenage girls largely live in a lookalike culture, wearing the same styles that they got in the same stores as their friends. On prom night, though, the idea is to stand out, making sure no one arrives to the big dance in the same outfit.
To ensure their uniqueness after they’ve shopped in faraway malls and tapped into store registries – girls are using social media to claim dibs on their dresses.
A fashion advice website, Fashism.com, has even launched a Facebook-based registry called “Got Dibs” that allows users to track who’s wearing what to which high school event, and get feedback on their outfit before they wear it.
Amy Avitable, senior vice president of marketing for Lord & Taylor, which is partnering with Fashism.com on Got Dibs, says the project is a way to give girls an insurance policy that they’ll have something special, while making sure they won’t be second-guessing their outfit at the last minute.
Here’s how Got Dibs works: Girls can snap photos of themselves with the tags still on the dress and get instant advice on what shoes to wear, if the hemline is right or if the silhouette is flattering.
The opinions of peers, whether they are best friends or online “friends” from around the country, are key to the tech-savvy, fashion-loving consumer, says Ashley Granata, Fashism.com’s co-founder and chief marketing officer.
But for prom-goers, it’s the claim on a dress that matters most, she adds.
“When I was a junior, a freshman came to my prom in the same dress. I was mortified,” Granata recalls.”`It was a pink satin, princess cut with scalloped neckline. I thought it was interesting and beautiful. I was known to have individual sense of style – and then this trendy girl shows up in the same thing. Now I can say it’s really funny, but I was really upset about it.”
Also for the prom, low-income high school girls in the Chicago area will be provided with dresses and accessories through the Glass Slipper Project.
The non-profit organization aims to help 1,500 juniors and seniors this year. It collects new and gently used prom dresses, shoes, jewelry and handbags for the girls. They can pick them out with the help of a personal shopper on three shopping Saturdays.
Any girl in a public or private Chicago or suburban high school may participate with a valid school ID or letter from their principal. No proof of financial need is necessary.
The organization has helped 18,000 girls since 1999.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
New Senior Housing Building in Roseland
Posted on 26. Apr, 2011 by citizen in Community Focus
Sheilah Robinson, manager of Roseland Special Service Areas (SSA) #40 and #41 thanks Mayor Richard M. Daley for his support of the Roseland community during his 20+ years in office. (Photo Credit: Antonio Dickey/City of Chicago)
by Thelma Sardin
As part of his 50 Ward “Neighborhood Appreciation Tour”, Mayor Richard M. Daley dedicated a new senior housing building in the Roseland community on April 20. Joined by 9th Ward Alderman Anthony Beale, Daley told the crowded room at the Roseland Senior Campus, “Working together, we’ve brought Chicago into the 21st century and given it a bright future. It’s been a joy and an honor to be your Mayor.”
The 3.5 acre Roseland Senior Campus is located on 104th and Michigan. It features three buildings offering a variety of housing and service options, including supportive-living, independent-living and intergenerational housing for grandparents raising their grandchildren.
At Wednesday’s building dedication, Mayor Daley dedicated the second building in the campus, the Roseland Place Senior Apartments, a 60-unit affordable rental housing development.
Daley also thanked Beale for his hard work in the 9th Ward since becoming alderman in 1999. The Mayor called Beale an “effective alderman.”
Beale also praised Daley. “If you know him like I know him, [you know] he’s not going far. He doesn’t know how to sit down,” Beale said of Daley’s upcoming mayoral retirement.
The event became emotional when two community workers thanked Mayor Daley for his many years of service.
Sheilah Robinson, manager of Roseland Special Service Areas (SSA) #40 and #41 fought back tears while expressing gratitude to Daley for his steadfast commitment to the Roseland community. “Thank you for all of your hard work, for your commitment to our alderman [and] our community” Robinson said adding that she loves the mayor and will miss him.
An SSA is a program to fund expanded services and programs through a localized property tax levy within contiguous industrial, commercial and residential areas. SSA-funded projects could include but are not limited to: security services, area marketing and advertising assistance, promotional activities such as parades and festivals, or any variety of small scale capital improvements which could be supported through a modest property tax levy, according to the City of Chicago website.
Diane Latiker, president of Kids Off The Block (KOB) told the crowd, “When you got an ally you definitely don’t want to lose them,” she said speaking of Daley’s support of her organization.
KOB is a non-profit organization in Roseland whose mission is to provide at-risk low income youth positive alternatives to gangs, drugs, truancy, violence, and the juvenile justice system, according to its website.
Daley’s last day in office is May 16, Mayor-Elect Rahm Emanuel will be sworn in at that time.
TV Land Eyes Cedric The Entertainer Sitcom
Posted on 26. Apr, 2011 by citizen in Briefs
Cedric's character, a minister, is to be introduced when ``Hot in Cleveland'' begins a new season June 15. Photo Bert Sanchez
LOS ANGELES (AP) – TV Land is looking at Cedric the Entertainer as a series star.
The channel said it’s developing a possible spin-off of its “Hot in Cleveland” sitcom to star the actor-comedian.
Cedric’s character, a minister, is to be introduced when “Hot in Cleveland” begins a new season June 15. The sitcom stars Valerie Bertinelli, Jane Leeves, Wendie Malick and Betty White, whose characters will mix it up with Cedric.
TV Land said whether the proposed, untitled series gets a green light depends on the pilot script to be written by Cedric and “Hot in Cleveland” creator Suzanne Martin.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Obama Launches Black Outreach Program in Communities Nationwide
Posted on 26. Apr, 2011 by citizen in Global News
Special to the NNPA from the AFRO-American newspapers
The Obama administration will reach out to African-Americans in coming months in a campaign to tell Blacks about what Obama is doing for them.
A week after announcing his 2012 campaign, Obama sent Black senior White House advisors into African-American communities across the U.S. to share stories about how the administration is working to enhance their quality of life.
“We’re taking the White House on the road,” Michael Blake, Obama’s director of African-American Outreach, told BlackAmericaWeb. “There are a lot of positive and transformational initiatives to help the African-American community that people are not aware of.”
Through the program, the administration looks to reach more than one million African-Americans and hold 100 events in Black communities across the country throughout the rest of 2011. A new web site detailing the president’s outreach to these communities has also been created.
Blake has already appeared at Spelman College and Clark Atlanta University, in Atlanta, Ga., and in Black communities in Philadelphia, Pennsylvania. He also plans to travel to San Jose, Calif. and Chicago, Illinois.
“We’re crisscrossing the country and taking our stories directly to people about how the African-American community is benefiting from the Obama administration,” Blake told BlackAmericaWeb. “We’re literally going to people’s homes and have direct conversations. We’re getting out of D.C. and approaching our efforts from a community level.”
The outreach comes at a time when unemployment remains high, especially among Blacks, and three months after the president singled out job creation as a central target of the administration’s domestic policy.
According to a White House news release, the president’s proposed fiscal year 2012 budget would provide a $50 billion investment in infrastructure in an effort to use transportation spending—airport improvement, highway building, and high-speed rail development—to jump-start job creation.
Also, his budget proposal calls for funds to go to entrepreneurs to start businesses and create jobs in inner cities. The plan would also continue the Research and Experimentation Tax Credit and Renewable Energy Tax Grants, which accelerate growth in the “green” industry and allow employers to hire more workers.
Obama spoke about his plans to stimulate job growth at a recent National Action Network Gala.
“We are going to keep fighting until every family gets a shot at the American Dream,” Obama said, according to a White House transcript. “That’s our North Star. That’s the last thing I think about when I go to bed at night–the hopes and dreams of people who work hard every single day, look after their families, take care of their responsibilities, and just need a little bit of help to make it.”
Spike In Fuel Prices Erasing Airline Profits
Posted on 26. Apr, 2011 by citizen in Bill's Business
by David Koenig and Joshua Freed
AP Airlines Writers
Soaring jet fuel prices are wiping out profits at the nation’s biggest airlines.
The world’s biggest airline company, United Continental Holdings Inc., said Thursday that it lost $213 million in the first three months of the year after it paid nearly $600 million more for fuel than in the year-ago quarter.
American Airlines posted a $436 million loss. Like other airlines, American uses complex financial transactions to hedge against rising fuel prices. But these hedges only do so much to control the airlines’ single biggest cost. Hedging saved American Airlines $100 million in the first quarter, but its fuel bill still rose by $351 million.
Even a profit machine like Southwest Airlines Co., and rival low-cost carrier JetBlue Airways Corp., barely rose above break-even after paying to fuel their planes.
The rising costs offset revenue gains that ranged from 9 percent at American to 18 percent at Southwest.
The run-up in fuel prices is reminiscent of 2008, when oil also surged above $100 per barrel. But the airlines are in better shape to withstand an oil shock than they were then.
The big difference is fares. They’re at least 25 percent higher now than in 2008, said independent airline analyst Bob Herbst. And even though the economy is stronger now, airlines have not added an excessive amount of flights. He also noted that there are fewer airlines now - Northwest and Continental have both been absorbed by bigger airlines. The airlines also have less debt and more cash.
Back in 2008, people were taking odds on which airline would be forced into bankruptcy first. There’s not much of that chatter now.
Even though they lost money for the first quarter, and analysts have lowered their once-rosy forecasts, most airlines are expected to make money this year. The exception is American.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
