Treasury to Buy SBA Loans

  Government, Politics and the Economy Treasury to Buy SBA Loans The Treasury Department is finalizing its plans for a $15 billion initiative to stimulate SBA lending by using federal bailout money to buy up SBA loans. Global Warming Bill Will Hit Homeowners and Small Business the Hardest A Heritage Foundation analysis of the Waxman-Markey global warming bill predicts the bill will result in sky-high costs averaging $393 billion annually and destroying over a million jobs from 2012 to 2035. Management and Operations [Read Full Article]

Small Biz Tip: Pre-Screening Employees: The American with Disabilities Act (ADA)

Tips from June 24, 2009 The Small Business tips today will be discussing the American with Disabilities Act (ADA). The Equal Employment Opportunity Commission (EEOC) defines a disability as a person who has a physical or mental impairment that substantially limits one or more major life activities, has a record of such impairment, or is regarded as having such impairment. Under the ADA, employers cannot ask during the interview or background check about a person’s disabilities. Employers may inquire only about an applicant’s ability to perform specific job. An employer cannot make a job decision (hiring or promoting) based on an employee’s disability. The ADA covers businesses with 15 or more employees, including state and local governments.  Some states have laws protecting the confidentiality of medical records. Daily Overview: Learn about the ADA to ensure you do not infringe on the rig... [Read Full Article]

California Court Opens Door to ADA Abuse

  Government, Politics and the Economy Obama to Create New Consumer-Finance Agency According to Treasury Department documents, President Obama will propose an agency to protect consumers of financial products. This new agency would have the power to punish offending firms, set mortgage rules and crack down on deceptive practices. Management and Operations Fishy Stock Looking at the example set by Community Supported Agriculture programs, Northeastern fishing groups are selling shares in their enterprises to consumers and paying them back with weekly allotments of local, fresh-caught fish. [Read Full Article]

Is the Economy Improving?

  Government, Politics and the Economy The Recession: Signs of Improvement, No Jobs Yet There are signs of improvement, sales are picking up, but according to a recent survey of small business owners, layoffs and poor credit are still a problem. Business Groups to Obama: Limit Union Boss Pay With President Obama intent on capping executive pay, business groups are now daring the President to impose pay caps on labor union bosses as well. Management and Operations [Read Full Article]

Obama Contemplates Tax Cuts as Retail Bankruptcies Expected to Soar

Government and Economy Obama Considers $310 Billion Tax Cut Faced with a recession that could slide into deflation and stagnation, President-elect Barack Obama is preparing to ask Congress for as much as $310 billion in tax cuts as part of his massive economic stimulus package. Retail Bankruptcies Expected to SoarThe disastrous fall in 2008 retail sales is certain to cause mass bankruptcy filings and store closures in 2009, said Michael Burden, an executive with retail adviser Excess Space Retail Services, with California, Florida and Nevada among the hardest hit. Management and Financial Issues... [Read Full Article]

Tax Cuts Coming Despite the Economy

Government and Economy Slow Economy Won't Stop Tax CutsA top adviser to President-elect Barack Obama said Sunday that the country's slowing economy won't keep the new administration from fulfilling its plans for a middle-class tax cut. Fallout After Dismal Holiday SeasonAs an online toy seller filing for bankruptcy, other stores are expected to follow suit, meaning more empty storefronts and fewer brands on the shelves. Famous Last Words of 2008's Financial CrisisFew could have predicted the financial tsunami that hit the U.S. economy in the latter part of this year, but a han... [Read Full Article]

Small Business Brief for 12/02

Government and Economy SBA Applauds Treasury Action to Bolster Secondary Market for Small Business Loans A plan by the Treasury and the Federal Reserve to improve market conditions for asset-backed securities – including those composed of SBA-backed small business loans – should be welcome news to credit-hungry small businesses across the country, said U.S. Small Business Administration Acting Administrator Sandy K. Baruah.   Holiday Sales Season: One of the Weakest in Years Increased retail shopping over Thanksgiving will not be enough to keep this from going on record as one of the weakest sales seasons in recent years. [Read Full Article]

Small Business Brief for 12/01

Politics and Government Bush: "I'm Sorry" for the Economic CrisisWASHINGTON (AP) - President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession. Bernanke: Better Non-bank Failure Framework NecessaryFederal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive the economy. Paulson: Other Rescue Program... [Read Full Article]