Richmond, VA – Well, July 1, 2010 will be upon us soon. Here are some of the new laws voted by the Virginia legislature last session – that will go into effect later this week in the Commonwealth of Virginia. Citizens will want to be aware of these changes, as should visitors to Virginia, and those passing through.

While some of these laws seem straightforward and necessary, on the other hand, Virginia, like many others states, has increased the penalties and fines on its citizens to help raise money for its ailing state budget.

Changes in transportation laws in Virginia

** Texting, sending email, reading, and writing – while driving a car – is now illegal in Virginia. Be aware that the ban applies to cell phones, laptop computers, plus a host of other wireless communication devices.

According to many studies on the dangers of texting while driving, texting and driving is as dangerous as drunk driving. Virginia joins 27 others states in enacting this legislation.

The ban applies to reading or sending text messages or e-mails while driving. The texting ban is a secondary offense, meaning that individuals can be cited only after being stopped by police for another infraction. It carries a $20 fine for a first offense, and a $50 penalty for subsequent violations. Certain emergency situations will be exempt.

** The courts can now suspend the driver’s licenses of teens who miss 10 consecutive days of school. The law doesn’t apply in cases where a student has withdrawn from school for reasons beyond the student’s control, for transferring to another school, or when the student’s parent or guardian objects.

** Virginia now prohibits people from driving certain mopeds, motorized scooters, electric-powered bicycles and wheelchairs on the highway. Restricted vehicles under this law are those with a top speed of less than 35 mph. Violators of the law face a $50 fine.

** DUI – Drunk driving law changes in Virginia – Two new laws targeting drunken drivers go into effect on July 1, 2010.  One extends to 10 years from five the period of time within which a motorist convicted of a second drunken driving offense is required to have an ignition interlock installed in his or her vehicle. That device prevents a car from being started when an intoxicated driver breathes into it.

The other law clarifies the penalty for driving without a required ignition interlock, making that offense a Class 1 misdemeanor. Convicted offenders also will lose their license for one year.

** Those convicted of reckless or aggressive driving, or DUI in Virginia (see above) — will have to pay hefty fees of up to $1,000 per year for three years. The state says that the money will go toward improving roads.

** Parents in Virginia now have to put their kids in booster seats until they’re 7 instead of 5 years old.

* In Virginia, it now will be a misdemeanor to smoke within 20 feet of a gasoline pump — and if that pump catches fire, violators could face a year in jail.

** During the 2010 session, Virginia lawmakers voted to expand the Commonwealth’s Move Over law to include protection for tow truck drivers and highway workers.

As of July 1, 2010, those driving in Virginia must move over  when approaching a tow truck or highway maintenance vehicle displaying amber lights, change lanes away from the flashing lights if possible to do so safely, and/or proceed with caution given the prevailing highway conditions. The offense is punishable as a traffic infraction. Read more about the new Move Over driving laws in Virginia.

A law allowing senior citizens to take safe-driving courses online also goes into effect. Several new Virginia specialty license plates will now be offered, including an anti-abortion plate that bears the “Choose Life” slogan.

Election law changes in Virginia

** Allows voters to wear political T-shirts, buttons or other apparel to the polls. This  became an issue after the Virginia State of Elections had prohibited voters from wearing apparel with political slogans or candidates’ names at the polls on Election Day because of a state law that outlaws electioneering within 40 feet of the polling place.

** Lists of registered voters - Allows the State Board of Elections to furnish, for a reasonable fee, lists of registered voters to commissioners of the revenue and city or county treasurers for tax assessment, collection, and enforcement purposes.

In addition, a new law provides that, upon request and at a reasonable charge not to exceed the actual cost incurred, a political party or candidate is entitled to receive a copy of (i) the list of officers of election showing their party designation and assigned precinct and (ii) any instructions or information provided by the State Board to local electoral boards and registrars. The Board is required to post on the Internet its rules and regulations within three business days of their adoption.

**Political contributions – Provides that neither the Governor, his political action committee, nor any pertinent Secretaries shall knowingly solicit or accept a contribution, gift, or other item with a value greater than $50 from any bidder, offeror, or private entity who has submitted a bid or proposal pursuant to the Virginia Public Procurement Act, the Public-Private Transportation Act, or the Public-Private Education Facilities and Infrastructure Act during the bidding period.

The restrictions only apply if the stated or expected value of the contract is $5 million or more and do not apply to contracts awarded as the result of competitive sealed bidding. Furthermore, no bidder, offeror, or private entity who has submitted a bid or proposal under such acts shall offer or promise to make such a gift to the Governor, his political action committee, or any of his pertinent Secretaries. Any violation shall be a civil penalty of $500 or up to two times the amount of the contribution or gift, whichever is greater.

**Electronic election reforms – The bill provides that the State Board shall provide only electronic pollbooks, and not paper pollbooks, for any election held on or after November 1, 2010, and for all subsequent years and makes corresponding amendments that become effective on November 1, 2010.

Other Changes in Virginia law as of July 1, 2010

**Novelty cigarette lighters – Prohibit stores from selling novelty cigarette lighters to those under 18. Del. Algie Howell, D-Norfolk, introduced the legislation when he learned of local fire officials’ concerns over the lighters, which often resemble toys.

**Tax on Pay-Per-View movies in hotels - Imposes a 10 percent tax on pay-per-view movies in Virginia hotel rooms, with the money divided evenly between the general fund and a pool of money that provides incentives for filmmakers to shoot movies in Virginia. The bill was sponsored by state Sen. Louise Lucas, D-Portsmouth.

** Concealed handgun information – Bars public access to a statewide database of Virginians with permits to carry concealed handguns. The public still could get information on concealed carry permit holders at each circuit court. The bill was introduced after The Roanoke Times posted the state police database of permit holders on its Web site.

In addition, friction with New York City Mayor Michael Bloomberg led to a new Virginia law that makes it a felony for anyone other than police to make straw purchases at gun shops. A “straw purchase” involves buying a gun for someone who’s not allowed to buy one.

This new  law is in response to sting operations ordered by Bloomberg, who sent undercover investigators to five states, including Virginia, to buy firearms after learning that 80-90 percent of guns used in crimes in New York City were purchased out of state. The city later sued 27 out-of-state gun dealers.

** Additional Pay Day Loan restrictions – Bars payday lenders in Virginia from offering different types of loans in an effort to get around tough new restrictions placed on the short-term, high-interest loans.

In reaction to a 2008 law, the majority of the state’s 800 payday lenders had begun offering open-end loans, which are unregulated and have sky-high interest rates.

** College-age suicide prevention – Virginia now will require its public colleges to create policies to identify and help suicidal students. The bill was signed 11 days before the Virginia Tech killings, in which a troubled student shot and killed 32 students and faculty and himself.

** Tanning for minors – Virginians 14 and under now need parental approval to go to a tanning salon.

Read about changes to Virginia mental health laws as of July 1, 2010.

Oh, by the way, The Commonwealth of Virginia will also be increasing the speed limit from 65 mph to 70 mph – for certain sections of its highways on July 1, 2010.

Overview – What to Expect

This Summit  is the fourth G-20 Conference.  Canadian Prime Minister Stephen Harper is the host of the event. The theme of the Toronto summit is “Recovery and New Beginnings,” referring to an economic stimulus from the impact of the ongoing world recession. The stated goals of the Toronto Summit are: 1) to work on the ideas brought up during the earlier Washington, London, and Pittsburgh summits, 2) to improve the international financial sector, and 3) to keep open markets.

On May 8, 2010. Stephen Harper extended guest invitations to the leaders of Ethiopia, Malawi, Netherlands, Spain, and Vietnam.

The Organisation for Economic Co-operation and Development and the International Labour Organization, as well as Ethiopia, Malawi, and Vietnam will make their first G-20 summit attendances in Toronto. British Prime Minister David Cameron will attend his first international diplomatic conference after being elected. (See list of representatives below.)

Virtual media blackout of protests at last G-20 Summit held in Pittsburgh, PA

On September 24-25, 2009, at the last G-20 Summit in Pittsburgh, Pa, there was a virtual major media blackout of the citizens there, protesting the economic bailouts that were happening at the time. Primarily, only independent news sources – like The Examiner – showed the disturbing pictures and videos of police and military tanks controlling the crowds. The Pittsburgh G-20 site was actually bordered off – with the citizens having to remain outside the perimeter.

Chinook and Black Hawk helicopters, armored Humvees and crews of U.S. Army soldiers, as well as ten 25-foot boats with M240 machine guns from the Coast Guard, were on hand in Pittsburgh in the event of large-scale violent protests or a terrorist attack.

On September 24, 2009, a crowd gathered in Schenley Plaza, as world leaders met that evening at the Phipps Conservatory nearby for a working dinner. An initially quiet gathering quickly escalated and turned violent after 9:00 PM EDT.

Hundreds of police encircled the crowd, which spilled over onto Forbes Avenue and Bigelow Boulevard near the Cathedral of Learning. An estimated 300 riot police lined the sidewalk behind the William Pitt Union, with 200 more officers blocking Forbes Avenue nearby to contain the protesters. However, the crowd quickly grew to about 500 as nearby University of Pittsburgh students – evident by shouts of “Let’s Go Pitt!” heard – curious about the sirens and police presence, joined the crowd. Police shot several rounds of pepper spray into the crowd

By the end of day on September 25, 2009, police estimated that about 4,500 people participated in protests throughout the city, with 190 arrests being made. Dozens of University of Pittsburgh students – who say they were wrongfully arrested and subjected to heavy-handed police tactics during the G-20 meeting – called for an investigation into the police actions.

Twitter enters the picture as activist tool

New York City activist Elliot Madison used Twitter to report an order to disperse message from the Pittsburgh police during the protests. Police raided Madison’s hotel room, and one week later Madison’s New York home was raided by FBI agents. Police claim Madison and a co-defendant used computers and a radio scanner to track police movements and then passed on that information to protesters using cell phones and the social networking site Twitter. Madison is being charged with hindering apprehension or prosecution, criminal use of a communication facility, and possession of instruments of crime.

Security of concern in Toronto; many measures have been put into place

Security measured are likely to be much the same at the 2010 Summit. Economic conditions across the globe have continued to deteriorate. Since the Pittsburgh Summit on September 24-25, 2009,  the world has witnessed the bailout of Greece, for example.

For at least two months, the Toronto Police Service, Peel Regional Police, the Ontario Provincial Police (OPP), and the Royal Canadian Mounted Police (RCMP), together forming an “Integrated Security Unit,”  have been working on security in the Toronto region, especially in the Downtown core, where the Summit will take place.

Police officials have already chosen locations to detain protestors and plan traffic detours which will be in place during the two-day Summit. Toronto’s Pearson International Airport in Mississauga will handle the arrivals of the world leaders. Nav Canada has announced that it will place restrictions on the airspace in Toronto. According to the Globe and Mail, 10,000 uniformed police officers, 1,000 security guards, and several Canadian military forces will be deployed during the Summit.

The surrounding areas of the Metro Toronto Convention Centre, specifically bordered by Queen Street West (north), Queen’s Quay (south), Yonge Street (east), and Spadina Avenue (west), have been divided into zones where different levels of security will be in place.

Site of 2010 G-20 Summit “off limits” to civilians and protestors

The Convention Centre, itself, will be fenced and off-limits to civilians and protestors. Toronto Police have put up several temporary CCTV security cameras in the area, in addition to the permanent ones already in use.

Toronto Police originally announced that Trinity Bellwoods Park would be the site for protesters, but following major opposition from local communities, police have relocated the “protesting site” to north of Queen’s Park. And, in fact, on May 6-7, 2010 across the Greater Toronto Area, The North American Aerospace Defense Command (NORAD) conducted an Amalgam Virgo preparation exercise  – using CF-18 Hornet jets, CH-124 Sea Kings and CH-146 Griffon helicopters at low altitudes.

Many businesses and traffic routes will be affected

Major banks headquartered in Downtown Toronto, which happen to be the largest banks in Canada’s banking industry, have made plans to have employees work outside of their downtown headquarters and work in alternative working places, such as at home or in other branches. In addition, the Director of Communications of Canada Post, Deborah Harron-Thompson, announced that post boxes along the streets in the vicinity of the summit location will be removed for security concerns.

The Gardiner Expressway and Lake Shore Boulevard are expected to be closed during the summit dates. The city is strongly recommending the use of public transportation in the Downtown area.  The Yonge-University-Spadina subway line and its stations close to the Convention Centre will remain operational.

Commuter rail service at Union Station will also remain operational.  The CN Tower, classes at the University of Toronto’s St. George Campus, and the PATH, Toronto’s underground city, will be closed down during the Summit, June 26 and June 27.

On the sports front

The three-game Major League Baseball (MLB) series between the Toronto Blue Jays and the Philadelphia Phillies, which were set to take place from June 25-27 at the Rogers Centre, have been relocated to be held at Philadelphia instead.

A media centre for international media personnel, journalists, and press will be set up at the Direct Energy Centre at the Exhibition Place during the summit.

Who will be at the 2010 G-20  Summit in Toronto?

On May 8, 2010. Stephen Harper extended invitations to the Summit to the leaders of Ethiopia, Malawi, Netherlands, Spain, and Vietnam. The Organisation for Economic Co-operation and Development and the International Labour Organization, as well as Ethiopia, Malawi, and Vietnam will make their first G-20 summit attendances in Toronto. British Prime Minister David Cameron will attend his first international diplomatic conference after being elected.

G-20 member representatives include:

* Argentina – represented by Cristina Fernández de Kirchner, President of Argentina
* Australia – represented by Kevin Rudd, Prime Minister of Australia
* Brazil – represented by Luiz Inácio Lula da Silva, President of Brazil
* Canada – represented by Stephen Harper, Prime Minister of Canada (Host)
* People’s Republic of China – represented by Hu Jintao, President of the People’s Republic of China
* France – represented by Nicolas Sarkozy, President of France
* Germany – represented by Angela Merkel, Chancellor of Germany
* India – represented by Manmohan Singh, Prime Minister of India
* Indonesia – represented by Susilo Bambang Yudhoyono, President of Indonesia
* Italy – represented by Silvio Berlusconi, Prime Minister of Italy
* Japan – represented by Yukio Hatoyama, Prime Minister of Japan
* Mexico – represented by Felipe Calderón, President of Mexico
* South Korea – represented by Lee Myung-bak, President of South Korea
* Russia – represented by Dmitry Medvedev, President of Russia
* Saudi Arabia – represented by Abdullah bin Abdul Aziz, King of Saudi Arabia
* South Africa – represented by Jacob Zuma, President of South Africa
* Turkey – represented by Recep Tayyip Erdogan, Prime Minister of Turkey
* United Kingdom – represented by David Cameron, Prime Minister of the United Kingdom
* United States – represented by Barack Obama, President of the United States

Guest nations representatives include:

* Ethiopia – represented by Girma Wolde-Giorgis, President of Ethiopia
* Malawi – represented by Bingu wa Mutharika, President of Malawi
* Netherlands – represented by Jan Peter Balkenende, Prime Minister of the Netherlands (unless changed due to the June election)
* Spain – represented by José Luis Rodríguez Zapatero, Prime Minister of Spain
* Vietnam – represented by Nguy?n Minh Tri?t, President of Vietnam
* European Commission – represented by José Manuel Barroso, President of the European Commission
* European Council – represented by Herman Van Rompuy, President of the European Council

International organizations representatives:

* Financial Stability Forum – represented by Mario Draghi, Chairman of the Financial Stability Forum
* International Labour Organization – represented by Juan Somavía, Head of the International Labour Organization
* International Monetary Fund – represented by Dominique Strauss-Kahn, Managing Director of the International Monetary Fund
* Organisation for Economic Co-operation and Development – represented by José Ángel Gurría, Secretariat General of the Organisation for Economic Co-operation and Development
* United Nations – represented by Ban Ki-moon, Secretary-General of the United Nations
* World Bank Group – represented by Robert Zoellick, President of the World Bank
* World Trade Organization-  represented by Pascal Lamy, Director General of the World Trade Organization

Preparations for demonstrations began many weeks ago. The Ontario Federation of Labour is expected, for example, to lead a rally of 20,000 protesters in front of Queen’s Park.

Obama urging nations to “safeguard and strengthen the recovery”

According to the Politics Daily web site:  (On Friday), in advance of the economic summit in Toronto, President Obama urged America’s economic partners to “safeguard and strengthen” a recovery from recession in the face of continuing challenges, including the European Union debt crisis.

“We must maintain the momentum,” Obama said in a lengthy letter to the Group of 20 industrial nations meeting in Toronto. Obama did not single out any G-20 nation by name, but said “some countries” must deal with “weakness of consumer demand” and an over-reliance on exports.

“Our highest priority in Toronto must be to safeguard the recovery,” he said. “We worked exceptionally hard to restore growth; we cannot falter or lose strength now.” Budget deficits, he said, should be dealt with in the “medium term” – an apparent reference to the importance he places on continued spending to stimulate the economy.’

For more information, see wikipedia.

Washington D.C. – Who will feel the crunch? The people – as U.S. states continue to cut spending in 2010 and 2011. Findings from the biannual report, The Fiscal Survey of States, released by the National Governors Association (NGA) and the National Association of State Budget Officers (NASBO) on June 3, 2010, show that fiscal year 2010 presented the most difficult challenge for states’ financial management since the Great Depression.

According to the NGA and NASBO survey, although the nation’s economy shows signs of improvement, state fiscal conditions continue to deteriorate. To address falling revenues and meet balanced budget requirements, states have dramatically reduced spending from $687.3 billion in fiscal 2008 to $612.9 billion in fiscal 2010.

The report indicates that fiscal 2011 will be equally challenging, in spite of modest revenue growth. Unfortunately, states will have to make additional spending cuts or increase taxes to close their budget gaps, actions that will slow the economic recovery.

According to the report, in fiscal 2010, general fund expenditures declined 6.8 percent. However, governors’ recommended budgets for fiscal 2011 forecast a 3.6 percent increase in general fund expenditures.

The increase in state funds in fiscal 2011 is in response to a decline in Recovery Act funds, which are expected to decline by $55 billion, from fiscal 2010 levels, in fiscal 2011. However, even with a 3.6 percent increase in general fund spending, fiscal 2011 spending will still be $52 billion lower than fiscal 2008, a 7.6 percent decline.

Total balances — ending balances and the amounts in budget stabilization “rainy day” funds — are a crucial tool that states heavily rely on during fiscal downturns and budget shortfalls. The balances are estimated to be $38 billion, or 6.2 percent of expenditures, in fiscal 2010, and based on fiscal 2011 recommended budgets, $36.6 billion, or 5.8 percent of expenditures.

“States are still reeling from the downturn after the unprecedented declines in year over year spending in fiscal 2009 and 2010,” said NASBO Executive Director Scott D. Pattison. “States face significant fiscal challenges going forward with the federal Recovery Act funds ending, revenues not expected to be returning to pre-recession levels, and higher demands for many services like health and education.”

States estimate that federal fund tax revenues in 2010 will be $477.4 billion compared to $541.5 billion in fiscal 2008, a decline of 11.8 percent. Governors’ recommended fiscal 2011 budgets forecast collections of $495.8 billion, an 8.4 percent decline from fiscal 2008 levels. These revenue difficulties are highlighted by the 40 states that made mid-year budget cuts in fiscal 2010 totaling $22 billion.

The weakening of state fiscal conditions is reflected in the $296.6 billion in budget gaps faced by states between fiscal 2009 and fiscal 2012. Of the $296.6 billion, $169.3 billion has been closed by states.

“Our best estimate of the remaining state shortfalls for 2010-2012 is $127.4 billion. Because states lag behind national recovery, they expect 2011 to be as bad as 2010, and states will not begin the path to recovery until 2012,” said NGA Executive Director Raymond C. Scheppach.

“Spending cuts have been made across the board and governors have been tremendous fiscal stewards. However, it will continue be an uphill climb for states until 2013 when revenues are expected to return to 2008 levels.”

This edition of The Fiscal Survey of States reflects actual fiscal 2009, estimated fiscal 2010 and recommended fiscal 2011 figures. The data were collected during spring 2010.

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Founded in 1908, the National Governors Association (NGA) is the collective voice of the nation’s governors and one of Washington, D.C.’s most respected public policy organizations. Its members are the governors of the 50 states, three territories and two commonwealths.

NGA provides governors and their senior staff members with services that range from representing states on Capitol Hill and before the Administration on key federal issues to developing and implementing innovative solutions to public policy challenges through the NGA Center for Best Practices.

For more information visit the NGA web site.

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Founded in 1945, the National Association of State Budget Officers (NASBO) is the instrument through which the states collectively advance stage budget practices. The major functions of the organization consist of research, policy development, education, training, and technical assistance. These are achieved primarily thought NASBO’s publications, membership meetings, and training sessions.

Association membership is composed of the heads of state finance departments, the states’ chief budget officers, and their deputies. All other state budget office staff are associate members. NASBO is an independent professional and education association and is also a self-governing affiliate of the National Governors Association. For more information, visit the NASBO web site.

Waynesboro, VA – The members of DuPont Community Credit Union (DCCU) recently elected three members to the Board of Directors for three-year terms. Leslie E. Ramsey of Waynesboro, Shane Wills of Staunton were elected for the first time to the Board, and Mary E. Rothacker of Waynesboro was re-elected to the Board.

Mr. Ramsey, an Augusta County native, graduated from the Jefferson Professional Institute School of Business in Charlottesville. Mr. Ramsey retired in 1996, after 26 years of service with Ntelos, Inc.

Mr. Wills, a native of Rockbridge County, graduated from Eastern Mennonite University with a Business and Organizational Management degree. He recently completed his Masters of Business Administration from Averett University. Mr. Wills is the Plant Manager for Valley Precision, Inc. in Waynesboro.

Mrs. Rothacker is a retired credit union CEO. In addition to serving on the DCCU Board, she is Treasurer of the Waynesboro Woman’s Club and Chairman of the Nominating Committee for the Waynesboro AARP Chapter and an active volunteer with her church. Mrs. Rothacker is serving her third term on the Board.

The Board of Directors also selected its officers at their May Board meeting. Everett J. Campbell, Jr. of Afton will serve as Chairman of the Board of Directors. Robert Arbaugh of Waynesboro will serve as Vice Chairman of the Board. Mary E. Rothacker will serve as Secretary of the Board. Q. Maurice Gresham of Waynesboro will serve as Treasurer of the Board.

In addition, Walter H. Hendrix was selected Director Emeritus. Mr. Hendrix is a past Chairman, Vice Chairman and Treasurer of the Board, and served for 18 years.

DCCU is a not-for-profit financial cooperative and was founded in 1959.  The Credit Union currently has over 56,000 members, and over $727 Million in assets. DCCU operates nine branches in the Central Shenandoah Valley region.

WAYNESBORO, VA – DuPont Community Credit Union (DCCU) recently announced that two staff members have been promoted to management positions. David Whitcomb has been promoted to Mortgage Manager, and Michelle Wilcher has been promoted to Retail Branch Manager.

“We are pleased to announce the addition of David and Michelle to our Management Team,” said Gerald B. Hershey, DCCU President/CEO. “We look forward to the contributions both will make to assure we are providing the best possible service to our members.”

Mr. Whitcomb most recently served as Systems Implementation Specialist at the Credit Union. He has a Bachelor of Science Degree from Penn State. Mr. Whitcomb lives in Waynesboro with his wife, Sabrina, and their daughter.

Mrs. Wilcher will be Retail Branch Manager of the Stuarts Draft office. Mrs. Wilcher has been with DCCU for 12 years, serving in the past as a loan officer and most recently as a Member Service Supervisor. She has an Associate’s Degree from Blue Ridge Community College. Mrs. Wilcher lives in Craigsville with her husband, Kelly, and their three sons.

DCCU is a not-for-profit, full-service financial cooperative organized to serve the ever changing financial needs of all the members who own it. For more information, visit their website.

Harrisonburg, VA – So you want to start a business of your own? If so, you need a Business Plan.

The first question you want to ask yourself is: what are you trying to accomplish? Do you need to get funding for your business first? Do you need some professional marketing help to set up a steady stream of customers? Do you need a game plan to help guide your company’s actions and personnel? Any of these reasons are real ones. Decide the answer to this questions first, and your answer will determine what type of business plan you need.

Going for a bank loan, a SBA loan, or to private investors?

Then, you’ll need a more comprehensive business plan – where you define your primary selling proposition, and then you detail the market size and opportunity, and how you specifically will capture and sustain your market.

The main areas of a Business Plan that banks and investors look at are: 1) Management; 2) Marketing; and 3) Financial Projections.

1) Management: Who is running the company? How are they uniquely qualified to make your particular business succeed? How do they mesh as a team; in other words, what can the team accomplish together?

2) Marketing: There are many great ideas, but if one does not “get the word out” effectively and create real dialogue with potential customers or partners, even a good idea will fizzle. What types of marketing vehicles best fit your new businesses’ objectives and needs?

Of course, these days, a big component of your marketing will most likely be on the web. Make sure to get up to date on the latest in search engine marketing and web fulfillment so that you can reach all of the many customers that the web brings to you (i.e. people who you may not have had the chance to meet in person, but who are aligned with you.)

Another area to explore is strategic alliances. Together, a group of businesses can accomplish more than any one business alone. Team up for success.

3. Financial Projections: You’ll need to know what your exact costs are, including the cost of sales. And, you’ll need solid estimates of incoming sales. Having a financial professional to help you know your cash flow situation at all times, and how to use your cash more effectively,  is key.

Why not hire a consultant, perhaps a retired financial executive, to help you manage your cash flow, and to suggest profit strategies – based on his/her many years of experience ? One such consultant in the Shenandoah Valley is Hawksbill MAS. To get an idea of  what a financial operations management (FOB) consultant can do for you, visit this site.

These types of financial and accounting services are available for existing businesses, too.  Firms, like Hawksbill MAS, are also great sources of potential partners for you. Financial people who have been in the business for a long time know many people who can be of help to you.

Hawksbill MAS can also help you with a Business Plan.

Other articles will follow on ways to start and build a business, including your own consulting practice.

* My Opinion – Reporting The News As I See It – Check it out Yourself  *

MOCA, Puerto Rico, May 16 (UPI) – The Earth just happens to be shaking not far from where all of those thousands (or is it millions?) of barrels of  oil are sitting.  How convenient.

Here is the report about the earthquake that hit Puerto Rico – and the fault lines that are nearby. The major news sites have not followed the story much today:

“An earthquake measuring 5.7 on the Richter scale rattled Puerto Rico early this morning, the U.S. Geological Survey said.

There were no injuries but a woman was hospitalized for anxiety in the city of Cayey, CNN reported.

The epicenter of the quake was 3 miles east of Moca, officials said. Police said power was lost and quickly restored in Moca, which is located in the northwestern end of Puerto Rico.”

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Here is the  information from wikipedia.com about the volatility of that region – which is also close to the U.S. and the oil reserve disaster:

Deepest part of the Atlantic Ocean

The Puerto Rico Trench is an oceanic trench located on the boundary between the Caribbean Sea and the Atlantic Ocean. The trench is associated with a complex transition between the subduction zone to the south along the Lesser Antilles island arc and the major transform fault zone or plate boundary that extends west between Cuba and Hispaniola through the Cayman Trench to the coast of Central America. Scientific studies have concluded that an earthquake occurring along this fault zone could generate a significant tsunami.The island of Puerto Rico lies immediately to the south of the fault zone and the trench.

The trench is 800 kilometres (500 mi) long and has a maximum depth of 8,605 metres (28,232 ft) at Milwaukee Deep, which is the deepest point in the Atlantic Ocean.

Washington, D.C. – A government as close to the people as possible. That’s what governors have been stressing in the recent hearings before the Commercial and Administrative Law Subcommittee of the House Judiciary Committee at an April 15 hearing on the fiscal condition of states and the potential impact of pending federal tax bills on state revenues.

According to a National Governors Association (NGA) press release, NGA Chair (and Vermont Governor) Jim Douglas testified before the Commercial and Administrative Law Subcommittee of the House Judiciary Committee at an April 15, 2010 hearing on the fiscal condition of states and the potential impact of pending federal tax bills on state revenues.

Douglas told the panel that states face estimated budget gaps of $136 billion over the next three fiscal years and need maximum flexibility to manage their fiscal systems. Members of panel asked whether there is ever a good time, from a state perspective, to intervene and preempt state tax practices. Douglas emphasized that although Congress has the authority to preempt state tax law, such action should be the exception and not the rule.

“Decisions about state revenue systems and state taxation should be made by elected officials in the states,” Douglas said.

Testifying along with the governor was Judge B. Glen Whitley, president-elect of the National Association of Counties. Judge Whitley also emphasized the fiscal crisis facing local governments and the need to avoid preemptions and unfunded mandates from both the federal government and states.

The only dissenting voice during the panel came from Joseph Henchman, Tax Counsel for the Tax Foundation who argued that in tough economic times, states desperate for revenue will overreach and that Congress should examine the impact of state tax policy on businesses.

For more information, view the NGA web site.

Atlanta, GA –

CNN is reporting that The International Monetary Fund today approved a 30 billion euro ($38.6 billion) loan for Greece as part of a larger European Union-led effort to help ease the country’s economic crisis.

The article reads: “The three-year deal makes about 5.5 billion euros (US $7 billion) immediately available to Greece’s battered economy, the IMF said in a statement announcing the loan. The approval comes a week after Greece accepted an international aid package – negotiated by the IMF, European Central Bank and European Commission -  worth 110 billion euros (US $141 billion).

On Sunday, Greek Prime Minister George Papandreou blamed the economic crisis on corruption “on all levels.” “The same economic crisis that we’re living through is proof that these phenomena drove our country to unbearable debt and deficit and stagnated development,” Papandreou said in a statement.

“That is why it is our obligation to improve, with all of our might, how the political system operates and for society to not shape a general climate that is against that system and against the institutions which can ultimately only harm the country and citizens themselves.”

Clashes between police and thousands of demonstrators in Athens on Thursday killed at least three people. The demonstrations came hours after Greek lawmakers approved an unpopular package of budget-cutting measures. The measures were required to meet the terms of the EU bailout.

Papandreou called for a meeting of Parliament on Monday to address the issues.”

According to wikipedia, The International Monetary Fund (IMF) is “the international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments.

It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development through the enforcement of liberalising economic policies on other countries as a condition for loans, restructuring or aid. It also offers highly leveraged loans, mainly to poorer countries. Its headquarters are in Washington, D.C., United States.”

The wikipedia article includes information on the history, leadership and pros/cons of the organization which was created in the 1940’s – during WW II.

In other International news:

Voice of America is reporting this today:

Protesters in Bangkok – - “Thousands of new protesters from the Thai countryside have descended on the capital of Bangkok, complicating efforts to end demonstrations that have paralyzed the city.

In his weekly television address Sunday, Prime Minister Abhisit Vejjajiva called for a quick end to two months of protests.  He demanded that opposition Red Shirts give a clear answer to his reconciliation proposal no later than Monday.

The Thai leader is offering to hold elections on November 14, but warns he will rescind the offer if violence continues.

Earlier Sunday, U.S. Assistant Secretary of State for East Asian Affairs Kurt Campbell met with government officials and opposition activists.  He said he hopes anti-government protesters seize the opportunity.

The talks follow new violence and the arrival of more protesters Saturday.  Two police officers were killed and 13 other people were wounded in gun and grenade attacks, while an estimated 5,000 protesters began joining fellow Red Shirts in occupied parts of the capital.

The arrival of the new protesters comes just one month after clashes killed 25 people in the financial district of Silom.

On Sunday, protest leaders called for an investigation into the violence and for charges to be filed, while relatives of those who died displayed pictures of their loved ones during an event in downtown Bangkok.

Earlier this month, Mr. Abhisit offered to hold early elections if the Red Shirts accepted his reconciliation plan, which includes constitutional reform, resolving economic injustices and an independent investigation of recent political violence.

The protesters are demanding an early election to replace a government they see as elitist and undemocratic.  Many of them are rural poor and working class activists who support former prime minister Thaksin Shinawatra, who was ousted in a 2006 coup for alleged corruption.

The Red Shirts have accepted Mr. Abhisit’s reconciliation plan in principle, but have not yet agreed to leave the protest site.”  (Source)

US and Israel – “The Obama Administration says it will hold Israel and the Palestinians accountable if they do anything to seriously undermine trust in a new series of indirect peace talks.

In a statement Sunday, U.S. State Department spokesman PJ Crowley said the two sides have completed the first round of those talks, ending a 17-month break in negotiations.

U.S. Mideast envoy George Mitchell mediated the talks by shuttling between Israeli officials in Jerusalem and Palestinian officials in the West Bank city of Ramallah. (Source)

HARRISONBURG, VA – Today, Senator Mark Obenshain (R-Harrisonburg) thanked Governor Bob McDonnell for granting him the opportunity to serve on the new Governor’s Commission on Government Reform and Restructuring, created by Executive Order No. 2 moments after McDonnell took office on January 16.

“It is an honor to be appointed to serve on the Governor’s Commission on Government Reform and Restructuring,” said Obenshain. “A serious examination governmental priorities and the manner in which state government provides services is long overdue.

Governor McDonnell recognizes that ‘we’ve always done it this way’ is not a reason in and of itself, and that especially now, while revenues are low, it is essential that we prioritize and find more efficient and effective ways to provide key services. Streamlining government will not solve all our problems, but it is a vital step in the right direction.”

The commission, to be chaired by Fred Malek, the founder and chairman of Thayer Capital Partners, consists of a bipartisan group of current and former legislators, local government officials, businesspeople, administration officials, and policy analysts from across the Commonwealth. Senator Obenshain is one of four senators tapped to serve, alongside Senators Mary Margaret Whipple (D-Arlington), Ryan McDougle (R-Hanover), and Louise Lucas (D-Portsmouth).

The Commission is charged with identifying opportunities for creating efficiencies in state government, exploring innovative ways to deliver state services at a better value to Virginia taxpayers, seeking out means to more effectively and efficiently perform core state functions, and examine ways for state government to be more transparent and accountable.

“Anyone who has ever interacted with state government knows how frustrating the process can be,” said Obenshain. “Our responsibility is to scrutinize both what and how government delivers, and to ask whether services can be delivered more effectively and efficiently – and even, sometimes, whether government should be delivering it at all.”

A leading proponent of auditing the Virginia Department of Transportation, a proposal adopted by the Governor, and of exploring opportunities to privatize Virginia’s ABC stores, Senator Obenshain has long made government reform a top priority. “Serving on the Commission affords me an opportunity to push for much-needed changes in the way Virginia does business,” said Obenshain.

“Governor McDonnell and I are both strong advocates of government reform, and I look forward to working with the Governor and my colleagues on the new reform commission,” said Obenshain.

The Commission will hold its first meeting within the next month and will complete its initial report to the Governor by July 16, with a final report with recommendations to be issued by December 1.

Senator Obenshain represents the twenty-sixth district in the Virginia Senate. The district includes the city of Harrisonburg and the counties of Warren, Shenandoah, Page, Rappahannock and Rockingham (part).

ON THE WEB:

Mark’s website
Mark’s Facebook profile

(Picture above: Sen. Obenshain at McDonnell Rally.)

“The partnerships developed through these programs will play a critical role in helping high-growth potential small firms lay a stronger foundation for economic prosperity.”

FAST provides $2 million in funding (up to $100,000 per applicant) for outreach and technical assistance to science and technology-driven small businesses.

The program places particular emphasis on helping socially and economically disadvantaged firms compete in the SBA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Eligible applicants for FAST grants include state and local economic development agencies, Small Business Development Centers, and colleges and universities. Each state, through its governor, may submit one proposal.

“The FAST program is an important catalyst for helping America’s cutting-edge entrepreneurs continue to drive innovation and create good jobs,” said Karen G. Mills, SBA Administrator. “The partnerships developed through these programs will play a critical role in helping high-growth potential small firms lay a stronger foundation for economic prosperity.”

FAST funding applicants are encouraged to show how they will help support areas such as:

* small business research and development assistance,
* technology transfer from universities to small businesses,
* technological diffusion of innovation benefiting small businesses,
* proposal development and mentoring for small businesses applying for SBIR grants; and,
* commercialization of technology developed through SBIR grants.

Companies supported by the SBIR and STTR programs often generate some of the most important breakthroughs each year in the U.S. For example, about 25 percent of R&D Magazine’s Top 100 Innovations come from SBIR-funded small businesses.

More details about FAST grants can be found here.

Proposals will be evaluated by a committee consisting of small business owners, state level representatives, federal SBIR program managers and representatives of the business and academic communities. The SBA, the Department of Defense and the National Science Foundation will jointly review the recommendations from the evaluation panel and make awards based on proposal merit. Varying levels of matching funds are required from each participating state and territory.

The SBIR program — administered by the SBA — requires 11 federal agencies with more than $100 million in R&D spending to set aside 2.5 percent of those funds for competitively-awarded SBIR grants. In Fiscal Year 2007, these agencies provided about 5,500 SBIR federal grants and contracts for small businesses, a $2 billion investment.

STTR requires federal agencies with over $1 billion in extramural R&D funding to set aside 0.3 percent. STTR totaled about 870 awards for $218 million in Fiscal Year 2007.

For more information about the SBIR and STTR programs, visit SBA’s Web site.

Woodstock, VA – It’s not having money that causes problems, it’s the love of money that does. Along the same lines, everyone can benefit from learning how to better manage and utilize the cash they do have, and taking control back as far as their personal finances are concerned.

Given the tough economic times, Virginia Cooperative Extension is offering money management clinics on Thursday, May 13, 2010 at the Shenandoah County Office of Virginia Cooperative Extension in Woodstock, Virginia. (The address is: 600 North Main Street,
Suite 100, Woodstock.)

To be as convenient as possible for as many people as possible, the clinics will be held at three times that day — from 1 to 3:00 p.m., from 3:30 to 5:30 p.m., and from 6 to 8:00 p.m.

Taking control back

Participants will learn how to take control of their finances and prevent common financial mistakes. They will also have the opportunity to ask questions on financial topics such as budgeting, credit and debt and to learn about community assistance and resources.

Extension Agent Karen Poff notes, “Anyone who’s interested in improving their family’s financial situation can benefit from attending one of the clinics.”

The clinics are free; however, participants need to register by noon the day before the clinic (May 12) to attend. Clinics with no registered participants will be canceled. Clinics have been and will be offered regularly throughout the Northern Shenandoah Valley – from January to June, 2010.

For more information about the clinics, call the Shenandoah County Office of Virginia Cooperative Extension at (540) 459-6140, or visit their website.

*****

Another Growing Trend: “Local Dollars” and Bartering

Some people and communities are beginning to use the creation of “local dollars” and bartering – to help struggling families gain more of the products and services they need. Woodstock, Va, and Berkeley Springs, WV, both have local discount programs for consumers – to save them money and to keep as many dollars as possible in the local economy.

Waynesboro, VA – On March 23 in Waynesboro, DuPont Community Credit Union (DCCU) and Member Investment Services (MIS) will be conducting a workshop on Social Security entitled: “Social Security – Understanding Your Options and Benefits.”

Mr. Edwin “Ned” Sledge, Public Affairs Specialist of the Social Security Administration, will be leading the workshop to discuss the social security program, and answer questions regarding social security benefits. Topics to be covered include:

- How benefits are determined
- Considerations for when to start benefits
- Calculating spouse and widow benefits
- Working after receiving benefits
- Medicare considerations

The workshop will be Tuesday, March 23, 2010, from 6 to 7 p.m. at the DuPont Community Credit Union in Waynesboro, located at 104 Lucy Lane.

For more information, or to reserve a seat for the workshop, eMail: MISdccu at lpl.com, or call: (540) 946.3200, Extension x3338 or x3358.

Disclaimer: Securities, Advisory Services, and Insurance Products Offered Through LPL Financial and its Affiliates. Member FINRA/SIPC. Not NCUA Insured. No Credit Union Guarantee. May Lose Value.

DuPont Community Credit Union, a state chartered, federally insured credit union, is one of 194 credit unions across the Commonwealth. The Credit Union is affiliated with the Credit Union National Association. Credit unions provide members with savings, loans, and other consumer and business financial services.

Who can join DCCU?

The members of DuPont Community Credit Union share a common bond: they live, work, worship, or attend school in the Virginia counties or cities of:

Augusta
Rockingham
Rockbridge
Highland
Bath
Shenandoah
Staunton
Waynesboro
Harrisonburg
Lexington
Buena Vista

Visit the DCCU web site.

Richmond, VA – Here is Mark Obenshain’s Week in Review report (as of January 29, 2010) –

“Another week of session is behind us, and although actual budget negotiations still lie ahead, producing a balanced budget remains the matter on everyone’s mind.

The budget will be balanced, of course; the law requires it. The real question is how we’ll go about it, and that’s where the members of the General Assembly go their separate ways. One of my colleagues across the aisle, Senator Edd Houck, made it clear where the other side stands, calling for tax increases and speaking of the importance of preserving government jobs.

Houck’s most likely target is the car tax, cutting the $950 million reimbursement to local governments, which will result in re-imposition of the full car tax and an additional bill, likely to average between $450 and $600, for virtually every household in Virginia.

No one wants layoffs, and certainly, one hopes that any necessary staff reductions will come through eliminating vacant posts, but my colleague’s comments underscore a fundamental difference of opinion on the government’s role and function. Governments employ people, and many of those employees are fine civil servants, but governments do not exist for the purpose of employing people; they exist to provide essential services. If we can deliver those services more efficiently, we must do so.

Governor McDonnell has made it clear that he will not sign any budget that includes tax hikes, I firmly believe that we can meet our budget challenges without raising taxes, but to do that, we all need to be on the same page – and soon. The House of Delegates recently voted 97-0 to reject Tim Kaine’s income tax surcharge proposal, and I strongly believe that the Senate should follow suit, allowing us to all work from the knowledge that tax hikes are not on the table.

Yesterday, fourteen other members of the General Assembly and I unveiled the legislative priorities of the Conservative Caucus, a group I co-chair with Delegate Ben Cline which exists to provide a forum for conservative members of both chambers to discuss and work with each other to advance a commonsense conservative agenda. You can read the full agenda, which includes several of my bills, here.

Another one of my bills died on a party line vote in committee this week. The bill, which would have required voters to provide some form of identification, is a simple, commonsense approach that has met with bipartisan support in other states. People disagree on the extent and impact of voter fraud, but we should all agree on simple, unobtrusive measures to combat it.

I understand the fears that new requirements will create additional burdens for eligible voters, but my bill takes pains to avoid this, permitting utility bills, government checks, pay stubs, and other forms of identification to be used in lieu of photo ID.

Similarly, those who cannot produce any form of identification when they come to vote would be given the opportunity to cast a provisional ballot, which will be counted if they can later demonstrate their eligibility. It’s a fair solution, I think, and it’s one that courts have routinely upheld and that the bipartisan Carter-Baker Commission, headed by former president Jimmy Carter and former secretary of state James Baker, have strongly endorsed.

It’s also an idea that went down to defeat the other day, as SB 134 was passed by indefinitely on a 6-5 party line vote in committee. Given the evidence that a problem exists (a Johns Hopkins University Study identified 1,500 deceased Marylanders who had “voted” in recent elections; one county in New Mexico found 75 registrants at a single address; and right here in Virginia, campaign headquarters, vacant lots, and non-existent addresses have all been listed on many registration forms. It’s disappointing to see such a bill rejected.

Elsewhere, you may have read about the pending transfer of convicted murderer Jens Soering to Germany, a request approved by Tim Kaine during his final days in office. If you’re not familiar with the case, Soering was convicted of the brutal murder of his girlfriend’s parents in 1985 and is currently serving two life sentences, with his girlfriend sentenced to ninety years as an accessory.

In one of his final acts as governor, Kaine filed the requisite paperwork to transfer Soering to Germany – without consulting with or even notifying the victims’ families before the decision had been made – where he is expected to be released after two years (and in no event held more than ten). The other day, I signed an open letter to U.S. Attorney General Eric Holder penned by my colleague, Senator Steve Newman, urging him to deny the transfer.

Also, have you heard about the latest in green technology, the alternative energy clothes dryer that harnesses solar and wind power? Some of us grew up calling it a clothes line, but here in the General Assembly it’s a natural drying device, and it’s creating quite a stir.

No surprise, really. The newspapers get to trot out every possible groan-inducing pun, with one article in the Richmond Times-Dispatch alone saying the legislation stretch[ed] out the Senate and speculating that it would “get blown away” in the House, where the prevailing winds were against it, despite the fact that it breezed through the Senate.

So let’s shine some sunlight on this thing, shall we? (Yes, I’m doing it, too.) Clotheslines have been around forever, and they’re a fine and cost-effective way to accomplish a routine household chore. At issue, though, was whether they should be permitted in communities with restrictive covenants despite ordinances to the contrary – whether, in other words, someone who bought property with the understanding that certain restrictions were in place should have no say in a change in the terms of his agreement with the homeowners’ association because of a mandate handed down from Richmond.

I say no. There are few legitimate reasons for government to override private contracts or interfere with contractual property rights, and this is certainly not one of them. And it’s just one of the odd trifles that keep cropping up this session, even as we prepare to take on a far more pressing challenges.

Finally, this week afforded me an opportunity to meet with some friends and neighbors from the district, which is always one of the highlights of my weeks here in Richmond. Members of my local Chambers of Commerce, credit union employees, members of police and sheriffs offices across the district, and representatives of various local businesses, including from the hospitality and tourism industry, all stopped by, along with many other constituents. As always, I enjoy hearing from my constituents, so if you’re in Richmond, feel free to stop by, and even if you can’t do that, you can always pick up the phone and call my office at (804) 698-7526, or email me at mark@markobenshain.com

I look forward to hearing from you!

Mark Obenshain
Virginia State Senator”

Waynesboro, VA: For the 15th year, DuPont Community Credit Union (DCCU) will award $1,000 scholarships to 19 high school seniors at the DCCU Annual Meeting in late April. A total of $19,000 in scholarships to area students will be awarded at the meeting. The deadline for applications is March 8, 2010.

“DuPont Community Credit Union stresses financial education and assisting students in our community,” said David Snyder, Financial Education Manager. “This is a tangible way the Credit Union gives something back to the young people and their families in the communities which we serve.”

Eligible high school seniors include those attending public high schools in DCCU’s service area (see list at right); local private schools; and home-schooled students. Students are required to complete a one-page application and write on an assigned essay topic, which is available on the Credit Union’s website: www.mydccu.com. Credit Union membership is not required to apply for the scholarship.

All applications are to be submitted directly to: DuPont Community Credit Union, Attention: Scholarship Committee, P.O. Box 1365, Waynesboro, VA 22980 or delivered to any office location in Waynesboro, Staunton, Stuarts Draft, Verona, Harrisonburg, or Woodstock.

For further information contact Sarah Landram, Financial Educator -  slandram at mydccu.com or 540-946-3200, extension 3149.

Visit the DuPont Community Credit Union web site.

Woodstock – As the Down Jones hits 10,000, Alan F. Skrainka, CFA, the Chief Market Strategist for Edward Jones sees it this way:

“If you stayed the course with your investments during this financial crisis, chances are you are in better shape financially than those who abandoned their investments when the Dow was at 6,600, 7,600 or 8,600.

But you probably have questions about what’s next for the economy and the financial markets. Is the recession truly over? Will the recovery be strong or weak? Is the stock market overdue for a pullback? Is it time to sell your investments now that you’ve recovered some of the value lost, or should you buy more?

There will be much written and said about this period in our financial history. Lessons will be debated for many years.

But in our view, here are the most important lessons for investors:

Bear markets are unpredictable. They begin and end without warning. They often recover in dramatic fashion when we least expect it, frustrating the investor who has moved to the sidelines or who is waiting for a “dip” to get back in.

Develop and stick to your strategy. The best strategy to survive any crisis is to have a well-thought-out strategy and to stick to it. The most important elements of that strategy are to own quality investments, diversify* your portfolio and hold your investment for the long term.

Prepare. Don’t predict. The best time to develop that strategy is before a crisis hits.

History can teach us valuable lessons. We can’t predict what will happen in the future, but studying our country’s history teaches us that we often experience setbacks, some larger and more painful than we might imagine, and then we have recovered.

Those investors who understand and believe these investment principles may not know what will happen next, but they know what to do.

The stock market is never a one-way street. It never moves in one direction forever. As impressive as this rally has been, it’s inevitable that we will experience a setback. The stock market can correct at any time, for any reason. When that happens, you’ll likely hear more frightening predictions and forecasts from the crowd that was busy telling you to sell your investments in March, at the market’s recent low.

We don’t have to wait for that correction to give you our advice: Drops in the stock market can potentially be an opportunity for the long-term investor because historically, they’ve offered an opportunity to buy quality investments at a lower price.

If you stayed the course during this bear market, you can now consider yourself a graduate of the school of hard knocks. Congratulations. Now it’s time to apply those lessons learned. Contact your local Edward Jones financial advisor today.”

Woodstock, VA – Mary Ellen Ruddy is seen here delivering emergency care packages to the elderly in Woodstock on September 30, 2009. Mary Ellen recently became a volunteer at the Shenandoah Valley chapter of the American Red Cross. She delivered five packages in all as part of a service project by the Rotary Club of Woodstock (of which she is a member.)

In the picture with Mary Ellen are Helen and Ira Markley of Woodstock, Virginia. Helen is 97 and Ira is 95. Mary Ellen remarks: “The Markleys were very pleased with the visit, and commented numerous times on how well they are taken care of by the community.”

Mary Ellen Ruddy is with Edward Jones, and can be reached at (540) 459-4594.

Luray, VA – John Lesinski, a candidate for the 15th District House of Delegates, has just proposed a plan to help fill vacant and underused industrial buildings with job-creating businesses. More than 1.5 million square feet of industrial building space is either vacant or underused in Virginia’s 15th District, which includes Shenandoah, Page, Rappahannock, and parts of Rockingham Counties.

Lesinski believes that a conditional one-year income tax holiday for new or expanding businesses would lure large employers to existing facilities within high-unemployment regions in Virginia. In fact, the plan could generate more than 1,500 jobs in the 15th District. Lesinski presented the proposal yesterday at the Grand Opening of his Campaign Headquarters, located at 5 South Broad Street, in Luray, Virginia 22835.

“My opponent has done little to bring jobs into the 15th District, but my plan takes bold steps to encourage businesses to join our community and support our local economy,” said Lesinski.

The one-year income tax holiday would apply to new or existing businesses that add 100 or more permanent, full-time jobs to Virginia’s workforce in designated regions. Localities with unemployment rates greater than 8 percent for 6 of the previous 12 months would be eligible regions for this incentive program. In the 15th District, Page and Shenandoah Counties would qualify. Page County currently has an 11 percent unemployment rate, and Shenandoah County has a 9 percent unemployment rate.

The income tax holiday would have minimal impact on the State budget because it would apply only to new revenues. Moreover, the addition of new jobs would increase revenues and lower unemployment expenditures for the Commonwealth. Certain conditions would also apply to ensure that the tax holiday does not adversely impact existing Virginia businesses and that the recipient of the tax holiday would maintain the additional employees for more than five years.

According to Lesinski, “this is a win-win for our community, for businesses, and for Virginia.”

By focusing on existing buildings rather than new developments, Lesinski hopes to achieve a faster turnaround for bringing new businesses into the 15th District. While some existing buildings are not currently suitable for new businesses, measures are in place to modernize such facilities. For example, Virginia already offers facility renovation grants for businesses to improve antiquated buildings.

“We need leadership in Richmond that will find creative ways to bring jobs into Virginia,” said Lesinski. “That’s what we’re lacking now and what I hope to provide.”

Earlier this year, Lesinski proposed a tax credit to small businesses with fewer than 50 employees. That credit is intended to encourage small business growth and offset additional costs to extend unemployment benefits. The small business tax credit and the income tax holiday proposals are part of a series of economic initiatives designed by Lesinski to create jobs and improve the economy.

Investment firm Edward Jones’ Chief Market Strategist, Alan F. Skrainka, CFA, has been quoted as saying: “The Recession Is Over.”

According to Shrainka, the U.S. economy shrank at a slower pace in the second quarter of 2009 – a clear indication that the recession plaguing the economy since December 2007 is drawing to a close. He writes:

“The economy was forecasted to shrink at a 1.5% pace, according to a survey of 78 economists by Bloomberg News. However, as Shrainka points out, gross domestic product (GDP) contracted at a less-than-projected 1% annual rate after shrinking 6.4% in the prior three months, according to a report from the Commerce Department released at the end of July.

Edward Jones projects that it now looks as though the recession has ended (most likely in June) and that July will actually be the first month of recovery. They say that it’s also likely the end of the recession will not be officially recognized for many months.

“We’re optimistic for a variety of reasons” Shrainka says, “including stronger stock market performance, the rate of change in non farm payrolls, increased factory orders, and finally, the Commerce Department’s Index of Leading Economic Indicators (which has been up for three consecutive months). In addition, recent reports seem to confirm the housing slump and the manufacturing decline have eased.”

Edward Jones also observes that housing starts rose in June, and industrial production shrank at the slowest pace in eight months, according to U.S. Government reports this month. Economists now project the economy will grow at an average 1.5% pace from July to December,according to a Bloomberg survey taken in early July.

What Lower Stock Prices Mean to Me

Psychiatrists often use “word association” to gain a greater understanding of the human mind. What words would you associate with the latest big drop in stock prices? If you’re like most people, your words might include the following:

Crisis, Great Depression, Bailouts, Unemployment, Recession, Deflation, Inflation, Subprime loans, CEO compensation, Meltdown, Scandals, 201(k).”

According to Edward Jones, “studies show so many investors buy when they feel good and sell when they feel bad. But, this can be the equivalent of buying high and selling low. However, selling after a terrible 10-year period in the stock market can be a mistake, since good performance often follows bad.” As Edward Jones emphasizes, “historically, when stock prices are lower, future earnings tend to be higher, and vice versa.”

Edward Jones offers an interesting chart to put things in perspective. (See last page of report.) It shows estimated and actual stock market returns for key dates in U.S. financial history. The bottom line? According to Edward Jones, “The estimated and actual returns are fairly close, with the notable exception of the eve of the 1929 stock market crash.”

Many have not heard about it.

Ron Paul’s bill to audit the Federal Reserve (HR 1207) – also called the Federal Reserve Transparency Act – now has 213 co-sponsors in Congress, including Rep. Bob Goodlatte from the Shenandoah Valley.

The Ron Paul web site states: “The bill has a real chance to pass, but only if the people get out and support it and get our Congresspeople to put it to vote and pass it.” Ron Paul’s s legislation is aimed at pulling back the curtain from the Federal Reserve. Currently, Congress and the American people have minimal, if any, oversight over trillions of dollars that the Fed controls. With recent bailouts and spending decisions shining a spotlight on the actions of the Federal Reserve, more and more pressure is bearing down on Congress to take action and demand accountability and transparency.

Ron Paul introduced bill H.R. 1207 on February 26, 2009 with the following speech to Congress:

“I rise to introduce the Federal Reserve Transparency Act. Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy. How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation.

Serious discussion of proposals to oversee the Federal Reserve is long overdue. I have been a longtime proponent of more effective oversight and auditing of the Fed, but I was far from the first Congressman to advocate these types of proposals. Esteemed former members of the Banking Committee such as Chairmen Wright Patman and Henry B. Gonzales were outspoken critics of the Fed and its lack of transparency.
Since its inception, the Federal Reserve has always operated in the shadows, without sufficient scrutiny or oversight of its operations.

While the conventional excuse is that this is intended to reduce the Fed’s susceptibility to political pressures, the reality is that the Fed acts as a foil for the government. Whenever you question the Fed about the strength of the dollar, they will refer you to the Treasury, and vice versa. The Federal Reserve has, on the one hand, many of the privileges of government agencies, while retaining benefits of private organizations, such as being insulated from Freedom of Information Act requests. The Federal Reserve can enter into agreements with foreign central banks and foreign governments, and the GAO is prohibited from auditing or even seeing these agreements.

Why should a government-established agency, whose police force has federal law enforcement powers, and whose notes have legal tender status in this country, be allowed to enter into agreements with foreign powers and foreign banking institutions with no oversight? Particularly when hundreds of billions of dollars of currency swaps have been announced and implemented, the Fed’s negotiations with the European Central Bank, the Bank of International Settlements, and other institutions should face increased scrutiny, most especially because of their significant effect on foreign policy.

If the State Department were able to do this, it would be characterized as a rogue agency and brought to heel, and if a private individual did this he might face prosecution under the Logan Act, yet the Fed avoids both fates.

More importantly, the Fed’s funding facilities and its agreements with the Treasury should be reviewed. The Treasury’s supplementary financing accounts that fund Fed facilities allow the Treasury to funnel money to Wall Street without GAO or Congressional oversight. Additional funding facilities, such as the Primary Dealer Credit Facility and the Term Securities Lending Facility, allow the Fed to keep financial asset prices artificially inflated and subsidize poorly performing financial firms.

The Federal Reserve Transparency Act would eliminate restrictions on GAO audits of the Federal Reserve and open Fed operations to enhanced scrutiny. We hear officials constantly lauding the benefits of transparency and especially bemoaning the opacity of the Fed, its monetary policy, and its funding facilities. By opening all Fed operations to a GAO audit and calling for such an audit to be completed by the end of 2010, the Federal Reserve Transparency Act would achieve much-needed transparency of the Federal Reserve. I urge my colleagues to support this bill.”

Right now, the bill is in the House Committee on Financial Services. “If the bill doesn’t get out of committee, it will not come to a vote,” says the Ron Paul staff. All 71 members on this committee are listed on the Ron Paul web site, and they are asking Americans to contact the Congressional representatives on the Financial Services Committee and voice their strong support.

In a March 2009 interview, Ron Paul explained the situation from his viewpoint:

“There has to be an uprising by the people. There has to be enough people who will demand that their Congressmen respond, and that is building. You know, a year or two ago nobody in Washington even thought about the Federal Reserve. Today, there is a lot more thinking going on and a lot more support for our position. So, it is growing. And yet, we’re not on the verge of changing it. I have the bill to get rid of the Federal Reserve, that’s the major step and the ultimate step and they’ll probably self-destruct before we actually pass legislation.

But, the bill that is more important in the short run is the auditing bill, the 1207 bill, because that means they have to start answering our questions. Today they are protected. They are in total secrecy and they are protected by the law. If 1207 is passed we have an audit and they have to answer the questions. And I figure if we ever get that far and get the exposure and get the transparency that we need, then people will wake up and realize, ‘why do we have them at all?’”

Anyone can read the bill for themselves at:

http://www.govtrack.us/congress/billtext.xpd?bill=h111-1207