| Mayor’s office plots $1.8B spending plan
Mayor Mufi Hannemann's administration is proposing what city Budget Director Mary Patricia Waterhouse calls a "bare-bones" $1.8 billion operating budget for next year that will not raise property taxes. The budget also calls for $831.5 million in construction and other capital costs. About $265.1 million would be spent to plan, design and break ground on construction of a new mass-transit system. 2009 City Budget Operating budget: $1.8 billion Capital improvement budget: $831.5 million Revenues From property taxes: $788 million, an increase of $27.6 million from 2008. The mayor is proposing to keep property tax rates the same and offer a $100 tax credit for qualified homeowners. Spending Retirement and health benefits: $51.9 million toward paying down an estimated $1.2 billion shortfall during the next 30 years in health and other benefits for city workers Transit: $265.1 million for planning, design and construction of a mass-transit system; $4 million to continue operation of TheBoat; $31.1 million to buy 50 hybrid buses; and $1 million for bikeway improvements Sewers and garbage: $245.3 million for sewer projects; $5 million to ship garbage off island; $8 million to expand curbside recycling Roads: $77 million for repair and maintenance of city streets Police and fire: $63,000 to start up a Honolulu Police Department parks patrol; $5.5 million for 58 patrol cars, 10 motorcycles, a helicopter and other police equipment; $4.3 million for three fire engines, two ladder trucks and other fire equipment.; $1.9 million to plan and design a new East Kapolei Fire Station Housing: $7.3 million to renovate the Kulana Nani affordable rental housing project in Kaneohe and acquire the fee interest in the land; $2 million to develop the River Street Residences in Chinatown Parks: $15.6 million for parks improvements; $6.9 million for a new Asian tropical forest elephant facility at the Honolulu Zoo.
IPO Markets Stagger
Worldwide, 28 initial public offerings expected to raise $10.5 billion were postponed or withdrawn through January 30 versus 10 deals worth $374 million in the 2007 period, Dealogic reported. Among the companies whose debuts were shelved were Imperium Renewables, a cleantech firm that pulled a $345 million IPO and Light Sciences Oncology, a life sciences company that had planned a deal worth as much as $84.8 million. Reflecting the unsteady atmosphere, Renaissance Capital's IPOHome.com site reported that as of February 15, 37 IPOs were filed, 6 percent more than the 2007 period, but only 17 IPOs worth $3.9 billion were priced, 50 percent less than last year. Maria Pinelli, Americas leader of strategic growth markets at Ernst & Young, said that, if anything, the lineup of companies in the IPO pipeline is stronger than last year.
Thrifty Car Sales Opens Eight Dealerships in Six States
TULSA, Okla., Nov. 26 /PRNewswire-FirstCall/ -- Thrifty Car Sales, a subsidiary of Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) , is turning up the heat on expansions, recently adding eight locations to its national network of franchised used car dealerships. New dealerships are opening in markets that include Baxley, Ga.; Louisville, Ky.; Albuquerque, N.M.; Bixby and Pryor, Okla.; East Providence, R.I.; and Spokane, Wash. In Baxley, Ga., dealer Keven Carter opened a Thrifty Car Sales dealership at 755 W. Parker St. Carter has been in the automotive business for more than 10 years, most recently as Sales Manager at Woody Folsom Chevrolet. Steve Sternberg, a Thrifty Car Rental and Truck Rental franchisee for more than 32 years, has opened a dealership at 6507 Preston Highway in Louisville, Ky.
Action 9 Uncovers More Minivan Door Problems
Action 9 has found General Motors knew its Uplander minivans had problems with doors opening on their own. And the issue could affect several other models besides the Chevrolet Uplander. Ron Murray owns a 2005 Chevrolet Uplander and says when he watched Action 9's first investigation of the minivan's power doors he felt vindicated. "That was mine, that was my vehicle," he said. According to Murray, his right rear power door constantly popped open, sometimes even when it was locked. Action 9 saw it happen. After pushing the "close" button, the door closed. Then, an alarm sounded and the door opened by itself. Murray says it happens 90 percent of the time. VIDEO: Previous Action 9 Uplander Investigation
WEB SITE: National Highway Traffic Safety Administration
GM Phone Numbers: 1-800-222-1020 & 1-800-243-8872 The Action 9 report also caught a mechanic's attention.
Enrolment explodes past Ryerson's expectations
Stenton said that an increase in operating revenue from fees and government grants, and additional university operations resources will accommodate the influx of students. The program that saw the largest increase was business management, but not every program saw an equal increase. "It's different for every program," said Linda Grayson, VP Finance and Administration. "For some programs it may just be that more faculty will have to be hired." View more stories by Alyssa Pankiw. .
Few cheers for mortgage bailout
City and state programs aimed at helping people avoid foreclosure are getting decidedly mixed views. In Seattle, for example, a small program offering $5,000 loans to keep a few homeowners in their houses has set off a round of loud complaints. If this is happening .
VA Police Officer Facing Charges
Richard Allan Martin, 45, of West Fargo was arrested early yesterday morning.
He originally was charged with drunken driving and terrorizing. Authorities accuse Martin of engaging in sexual conduct with a 28-year-old woman inside his car, which was parked behind a bar in north Fargo.
Police say a woman later told people in a convenience store that Martin threatened to kill her.
Martin is still in the Cass County Jail pending $500 bail for a municipal drunken driving charge, but has posted bail set for the district charges.
East Central Judicial District Judge Wade Webb set bail on those charges at $3,000 bond or $300 cash.
VA spokeswoman Peggy Wheelden says Martin is a federal police officer employed by the VA, whose jurisdiction covers the VA campus.
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