Friday, May 18, 2012

WV’s Smallest Hospitals Like Those in Our Area Cannot Afford to Have Medicaid Reimbursement Pulled

Every member of West Virginia’s Congressional delegation is calling on those with the Centers for Medicare and Medicaid Services to take another look at revised regulations dealing with reimbursable costs for, what are considered, critical access hospitals.

With the changes, officials with the CMS are attempting to clarify the treatment of reimbursements for provider taxes.

Right now, CMS reimburses the state’s critical access hospitals for the provider taxes they pay under West Virginia law.

The changes would stop those reimbursements in the future, but also be applied retroactively, meaning the hospitals would have to pay back reimbursements from the past couple of years.

The change affects the state’s “critical access hospitals.“ Those are rural hospitals with 25 or fewer beds, like Roane General in Spencer, and Braxton County Memorial in Gassaway.

Second District Congresswoman Shelley Moore Capito says such changes could cost about 18 of the smallest, most rural medical sites in West Virginia millions of dollars.

“In certain areas, like in a critical access hospital or a community health center, you get a higher reimbursement rate because it’s important to have access in rural areas to be able to attract health professionals and all those kinds of things,“ Congresswoman Capito said.

She says that’s why, on this issue, West Virginia cannot be treated the same way as other states.

“If these facilities close, then if you’re sitting over in Calhoun County or something, you have an emergency, you have to come all the way to Charleston,“ she said.  “That’s an hour and a half.  That’s life threatening.“

She signed a letter, this week, asking the CMS to look closer at the issue.

U.S. Senator Jay Rockefeller, U.S. Senator Joe Manchin, First District Congressman David McKinley and Third District Congressman Nick Rahall all signed the letter as well.

Thursday, May 17, 2012

Victims of Crime Act Victim Assistance Program Grant Awards

Fifty-four public and private non-profit agencies throughout West Virginia received a total of $2,757,156 in Victims of Crime Act (VOCA) Victim Assistance grant funds.

These grants will provide direct services, such as counseling, personal advocacy, court advocacy, client transportation and support services to victims of crimes including domestic violence, sexual violence, child abuse, and elderly abuse.

The funds will also finance assistance to victims as they move through the criminal justice system.

The VOCA funds are awarded from the Office for Victims of Crime, the Office of Justice Programs of the U. S. Department of Justice.

These funds are administered by the West Virginia Division of Justice and Community Services.

Grant Recipients in our area:

DODDRIDGE, GILMER, HARRISON, LEWIS & MARION

Task Force on Domestic Violence, HOPE, Inc. $171,643.00

These funds will provide for the salaries of a full-time Family Therapist, a part-time Victim Advocate in Marion County, a Marion County Victim Services Case Manager, a Lewis County Victim Services Case Manager, and a Harrison/Doddridge County Victim Services Case Manager, and a portion of the salaries of a Marion County Victim Services Case Manager, a Gilmer County Victim Services Case Manager and a Children’s Case Manager to provide direct services to victims of domestic and sexual violence and their children in Marion, Harrison, Lewis, Gilmer, and Doddridge Counties.

Contact: Ms. Harriet Sutton
Phone: 304.367.1100
Email: “hsuttonhope@ma.rr.com”

LEWIS

Lewis County Commission $31,173.00

These funds will provide for the salary of a full-time Victim Assistance Advocate in the Lewis County Sheriff’s Department to provide direct services to crime victims in Lewis County.

Contact: Sheriff Michael Gissy
Phone: 304.269.8251
Email: “lcsomikegissy@yahoo.com”

RITCHIE & JACKSON

Family Crisis Intervention Center $39,364.00

These funds will provide for the part-time salary of a Case Manager and the full-time salary of a Ritchie County Outreach Advocate to provide direct services to victims of domestic violence and sexual assault in Wood and Ritchie Counties.

Contact: Ms. Judith A. Ball
Phone: 304.428.2333
Email: “fcic@citynet.net”

ROANE

Roane County Commission $10,900.00

These funds will provide for the salary of a part-time Victim Advocate in the Roane County Prosecuting Attorney’s office to provide direct services to crime victims in Roane County.

Contact: Mr. Joshua Downey
Phone: 304.927.2091
Email: “jdowney@court.state.wv.us”

UPSHUR

Upshur County Commission $35,175.00

These funds will provide for the salary of a full-time Victim Advocate in the Upshur County Prosecuting Attorney’s Office to provide direct services to crime victims in Upshur County.

Contact: Mr. Jacob E. Roger
Phone: 304.472.9699
Email: “jreger@upshurcounty.org”

G-Fin™: Financial Analyst Says There’s ‘Concern’ about Chesapeake

Chesapeake Energy’s stock price has now hit its lowest level since early 2009, just the latest in a series of issues for the second largest natural gas producer in the United States which has operations in West Virginia.

“They have a lot of leverage.  They continue to spend at a very high rate and there’s a lot of off balance sheet items that most people wouldn’t see unless they really start to dig,“ Argus Research Industry Analyst Phil Weiss says of Chesapeake’s finances.

Weiss says Chesapeake needs cash and to get that cash, company officials announced, earlier this week, Chesapeake is seeking a $4 billion loan from Goldman Sachs and Jeffries & Company, largely to pay off its debts.

Company officials are also trying to sell off assets.

In the past year, shares for Chesapeake Energy have fallen more than 50%, questions have been raised about Chesapeake’s business methods, it’s credit rating has dropped below “junk” status and the dealings of CEO Aubrey McClendon have generated controversy.

As for who is at fault for Chesapeake’s financial condition, “I put more blame than I might with Chesapeake than if it happened to a different company because they’ve been so aggressive,“ Weiss said on MetroNews Talkline.  He has called for McClendon to be replaced.

However, Weiss admits part of Chesapeake’s financial problems is the declining price of natural gas which is now the lowest it’s been in a decade.

As recently as a few years ago, natural gas prices hit a peak at a time when new drilling techniques, the kinds Chesapeake specializes in, were just be introduced.  The company contributed to growth in gas supply.

“There’s been so much of it (natural gas development) and there’s just not enough demand, so we have too much in inventory, too much supply.“  Weiss says a turnaround in the market could change things for Chesapeake.

“If natural gas prices were to suddenly recover, not something that anybody expects to happen that quickly, but if they were, then this all becomes ancient history and they can get through this,“ he said of Chesapeake’s prospects.

“But, absent that, there’s a lot of concern because natural gas prices are weak, their cash flow’s weak.“

AAA: Gas Prices Down Nearly 6 Cents in West Virginia

Gas prices in West Virginia are down nearly 6 cents per gallon over the past week.

The average price for a gallon of regular, unleaded gasoline in the state is $3.71. That’s about 2 cents lower than the national average.

A decline in the price at the pump has not been seen west of the Rocky Mountains, where tight gasoline inventories have sent prices higher even as crude oil prices and retail gas prices across the rest country have moved lower.

While it is not unusual for gasoline stocks to decline at this time of year, as refineries undergo maintenance and the switchover from winter-blend to summer-blend gasoline takes place, current West Coast stocks, as reported last week by the Department of Energy, are at their lowest level since 1992.

While 46 states and the District of Columbia have seen their price at the pump decline since April 14, Alaska (3.4 cents), Washington (7.1 cents), Oregon (8.5 cents), and California (11.6 cents) have seen prices increase.

A full state-by-state list of month-over-month price changes is included below:

At the close of formal trading on the NYMEX today, West Texas Intermediate (WTI) crude oil settled down $1.35 at $94.78 per barrel.

This is the lowest settlement price since December 19, 2011.

Today’s declines were attributed to continued global economic concerns.

Traders remain particularly focused on the euro zone, where Greek elections and a possible withdrawal from the currency following austerity measures to address sovereign debt worries have weighed on economic growth and markets.

A weakening global economy would be expected to consume less crude oil, which puts downward pressure on prices.

Furthermore, as economies overseas weaken relative to the U.S., the value of the dollar is expected to strengthen by being viewed as a “safer” currency.

As this happens, crude oil futures, priced in U.S. dollars, become relatively more expensive and thus a less attractive investment, which puts additional downward pressure on prices.

These same global economic concerns pressured oil prices lower last week as Chinese industrial data failed to meet expectations and political news from Europe was viewed as bearish by market analysts.

While U.S. consumer confidence was reported on Friday as increasing — in part due to falling gasoline prices in most regions — the broader global concerns weighed on U.S. commodities and equities markets alike as the Dow Jones Industrial Average posted its largest weekly loss of 2012.

A year ago, gas prices averaged $4.07 in the state.

Area Gasoline Prices on 05.16.12:

Arnoldsburg = $3.77

Buckhannon = $3.79

Burnsville = $3.85

Clarksburg = $3.63 - $3.69

Gassaway =  $3.85

Glenville = $3.77

Grantsville =  $3.95

Harrisville = $3.75

Jane Lew = $3.79

Linn = $3.89

Parkersburg = $3.63 - $3.69

Pennsboro =  $3.75

Spencer = $3.85

Sutton =  $3.85

Weston =  $3.79

West Union =  $3.68

Stop Violence Against Women Act Program Grant Awards

West Virginia’s 25 projects have been awarded a total of $1,071,794 in STOP Violence Against Women Grant Program funds.

“These grants are for people like Roger Lockridge. When Roger was just a boy, police brought him, his siblings and mother to safety after a domestic violence incident,” Governor Tomblin said. “Today, Roger advocates for children at a local center in Lewisburg. I am pleased to be able to present these grants to people like Roger, and the programs they work for, so that the victims can find the help they need.”

“These grants are very important on multiple levels. It is not only women, but also their children, that benefit from the grants that are given to help those that work against domestic violence. I am living proof of this,” Roger Lockridge said. “If my mother didn’t have anyone or a group to help her, there is a good chance I wouldn’t be here today. Because of the shelter we stayed at, the staff that worked extremely hard, and the money from the grants that funded it all, our lives were saved and I was able to join in the cause myself later on in my life.”

The purpose of the grant program is to establish or enhance teams whose core members include victim service providers, law enforcement, and prosecution to improve the criminal justice system’s response to violence against women.

Grants provide personnel, equipment, training, technical assistance, and information systems for the establishment or enhancement of these teams.

Additionally, statewide projects are funded to provide training and educational opportunities for all victim service providers, law enforcement, prosecution, and court personnel throughout the state.

STOP funds are awarded from the Office on Violence Against Women, Office of the U.S. Department of Justice. The funds are administered by the Division of Justice and Community Services.

Area grant recipients are:

CALHOUN

Family Crisis Intervention Center $23,451.00

The purpose of this grant is to enhance and continue the Calhoun County STOP Team to improve the criminal justice system’s response to victims of domestic violence, sexual assault, stalking and dating violence. The core Team includes the Calhoun County Prosecutor’s Office, the Family Crisis Intervention Center, and the Calhoun County Sheriff’s Department.

Contact: Ms. Judith A. Ball
Phone: 304.428.2333
Email: “fcic@citynet.net”

ROANE

Family Crisis Intervention Center $19,050.00

The purpose of this grant is to enhance and continue the Roane County STOP Team to improve the criminal justice system’s response to victims of domestic violence, sexual assault, stalking and dating violence. The core Team includes the Roane County Prosecutor’s Office, the Family Crisis Intervention Center, the Spencer Police Department, and the Roane County Sheriff’s Department.

Contact: Ms. Judith A. Ball
Phone: 304.428.2333
Email: “fcic@citynet.net”

UPSHUR

Upshur County Commission $30,000.00

The purpose of this grant is to enhance and continue the Upshur County STOP Team to improve the criminal justice system’s response to victims of domestic violence, sexual assault, stalking and dating violence. The core Team members include the Upshur County Prosecutor’s Office, Women’s Aid in Crisis, and the Buckhannon Police Department.

Contact: Mr. Jacob E. Reger
Phone: 304.472.9699
Email: “JacobReger@aol.com”

Wednesday, May 16, 2012

G-Fin™: April Consumer Prices Flat as Gasoline Drops

Consumer prices were flat in April as households paid less for gasoline and natural gas, possibly giving the U.S. Federal Reserve more room to help economic growth should the recovery stumble.

The Labor Department said on Tuesday its Consumer Price Index was unchanged last month after rising 0.3% in March.

April’s increase was in line with economists’ expectations.

Outside the volatile food and energy category, inflation pressures also appeared to be modest.

Core CPI edged up 0.2%, matching the increase posted in March.

A number of officials at the Federal Reserve appear loath to take further action to help the economy, with some arguing the central bank needs to get ready to start removing monetary stimulus.

A separate measure of inflation targeted by the Federal Reserve, and which is not included in Tuesday’s report, continues to hover around the central bank’s 2% goal.

The Federal Reserve has maintained since January that it expects economic conditions to warrant holding interest rates near zero through at least late 2014.

Last month, the CPI index was held back by a 2.6% fall in gasoline prices.

Natural gas prices dropped 1.8%. Prices also fell for fuel oil.

Food prices climbed 0.2% last month.

Overall consumer prices rose 2.3% year-on-year, down from a reading of 2.7% in March.

In the 12 months to March, core CPI increased 2.3%, the same pace clocked in March.

Rising gasoline prices have helped keep the overall inflation hotter than core inflation in recent years.

April was the first month since October 2009 that headline 12-month reading did not exceed the measure of core inflation.

Tuesday, May 15, 2012

Advocate for Smaller Schools Says West Virginia Needs a New Educational Philosophy

An advocate for small community schools says, 30 years later, it should be clear the Recht decision has not worked for the benefit of West Virginia’s students.

Challenge West Virginia Executive Director Thomas Ramey says the ruling, issued in May 1982, was supposed to help students in the state’s poorest, most rural areas.

“The education systems in those counties and the education those children in those counties receive has not improved.  In many cases, it’s gotten worse,“ Ramey said on Monday’s MetroNews Talkline.

In the landmark decision in the case of Pauley v. Bailey out of Lincoln County, Ohio County Circuit Judge Arthur Recht helped change education in West Virginia when he ruled the state’s school funding system violated the Constitution and did not create a “thorough and efficient” education system.

As part of that decision, Recht ordered an overhaul to equalize the system, an order that lead to the creation of the state School Building Authority.

Now, twice a year, members of the SBA determine how the millions of dollars available for school construction and maintenance projects in West Virginia are spent.

Ramey says, over the years, the SBA has favored consolidations.

Since 1990, he says 350 schools in West Virginia have closed because of those consolidations, creating long bus rides for some students who no longer attend school in their communities.

SBA officials, though, say consolidations have led to better facilities and create more educational opportunities for students.

At the same time, they say they are helping with local projects that may not have adequate funding without the SBA.

Ramey does not agree.

He says West Virginia needs a new education philosophy.

“I actually think that children, low income children and children in rural areas, have just as much as a difficult time succeeding today than they did prior to the Recht decision,“ he said.

West Virginia’s Unemployment Rate at 6.7% in April 2012

West Virginia’s seasonally adjusted unemployment rate inched downward one-tenth of a percentage point to 6.7% in April.

The number of unemployed state residents fell 1,000 to 53,800.

Total unemployment was down 8,200 over the year.

The national unemployment rate declined one-tenth of a percentage point to 8.1% in April.

Total nonfarm payroll employment declined 1,800, with losses of 1,300 in the goods-producing sector and 500 in the service-providing sector.

Within the goods-producing sector, employment declines included 1,000 in mining and logging, 200 in manufacturing, and 100 in construction.

Within the service-providing sector, employment declines included 800 in professional and business services, 700 in government, 200 in financial activities, and 100 in other services.

Employment gains included 800 in educational and health services, 300 in trade, transportation, and utilities, and 200 in leisure and hospitality.

Since April 2011, total nonfarm payroll employment has risen 6,200, with gains of 4,800 in the service-providing sector and 1,400 in the goods-producing sector.

Employment gains included 4,000 in educational and health services, 2,200 in construction, 1,700 in leisure and hospitality, 1,000 in professional and business services, and 900 in government.

Employment declines included 2,100 in trade, transportation, and utilities, 600 in manufacturing, 500 in financial activities, 200 in mining and logging, and 200 in other services.

West Virginia’s not seasonally adjusted unemployment rate declined three-tenths of a percentage point to 7.0% in April.

West Virginia: Medicaid Changes

West Virginia officials outlined plans to shift around 57,000 people who rely on Medicaid into managed care, telling lawmakers the move would improve the health of some of the sickest people who rely on this government program while also cutting an estimated $15 million annually in prescription and medical costs.

Several members of the House-Senate Legislative Oversight Commission on Health and Human Resources Accountability greeted the details with cautious optimism. But several also echoed concerns from advocates for these low-income residents about the state’s ability to provide the needed care.

Through managed care, primary physicians develop individual treatment plans, and refer these patients requiring specialists to a network of providers. Pre-approval is required for certain procedures or for seeing an out-of-network provider.

Nearly all states have begun covering people on Medicaid through managed care. West Virginia’s program now covers nearly 170,200 people this way, mostly members of families who receive federal welfare-related benefits. The plan detailed Monday would affect low-income seniors and people with disabilities who also receive help through the federal Supplemental Security Income program.

Commissioner Nancy Atkins of the Bureau of Medical Services told the legislators that her agency hopes to expand managed care gradually, a few counties at a time, between December and August. The agency has already sought federal approval for the planned changes, which includes shifting pharmacy benefits, and the projected savings reflects the entire managed care population, Atkins said.

Atkins said around 35% of people on Medicaid are seniors or the blind and disabled, but they account for 70% of the program’s annual costs. She also said that these people also often have such chronic ailments as diabetes, heart disease and mental illness.

“These folks, I think, have a difficult time navigating the health care system,” Atkins said. “Our goal with this population is to improve their health outcomes and coordinate care around the Medicaid member.”

Atkins also said that the state’s approach embraces several health-related measures recently passed by lawmakers. One is the medical home concept, which also promotes individual care plans to address a person’s chronic ailments. Another is the physician-sponsored care network.

Louise Reese, chief executive of the West Virginia Primary Care Association, told the legislators Monday that one such network will compete with the state’s existing managed care companies to provide this coverage for Medicaid. All but four of the state’s 28 federally qualified health centers helped found this effort, called the West Virginia Family Health Plan. The other centers will be part of its network of providers, Reese said.

“We’re very excited to be able to participate,” Reese said.

Monday, May 14, 2012

G-Fin™: U.S.A.: Economic Brief – 05.11.12

Producer Price Index

The Producer Price Index for finished goods fell 0.2% in April.

Prices for finished goods were unchanged in March and increased 0.4% in February.

The index for finished goods less foods and energy rose 0.2%.

U.S. Import and Export Price Indexes

U.S. import prices declined 0.5% in April, following a 1.5% increase in March.

The April decrease was driven by lower fuel prices which more than offset a small increase in nonfuel prices.

The price index for overall exports rose 0.4% in April after a 0.8% increase…

Job Openings and Labor Turnover Survey

There were 3.7 million job openings on the last business day of March, little changed from February, but up significantly from a year earlier.

The hires rate (3.3%) and the separations rate (3.1%) were unchanged in March.

U.S. International Trade in Goods and Services, March 2012

Total March exports of $186.8 billion and imports of $238.6 billion resulted in a goods and services deficit of $51.8 billion, up from $45.4 billion in February, revised.

GRANTS AND FUNDING OPPORTUNITIES - 05.14.12

Dollar General Literacy Foundation: Youth Literacy Grants

Dollar General Literacy Foundation Youth Literacy Grants provide funding to help students who are below grade level or experiencing difficulty reading.

Grant funding is provided to assist in the following areas: implementing new or expanding existing literacy programs; purchasing new technology or equipment to support literacy initiatives; and purchasing books, materials or software for literacy programs.

Maximum award: $4,000.

Eligibility: schools, public libraries, and nonprofit organizations.

Deadline: May 16, 2012.

Mitsubishi Electric America Foundation: Grants for Youth with Disabilities

Mitsubishi Electric America Foundation Grants Program is dedicated to helping young Americans with disabilities maximize their potential and fully participate in society.

The foundation supports organizations and projects within its mission that have broad scope and impact and demonstrate potential for replication at other sites.

A major program emphasis is inclusion: enabling young people with disabilities to have full access to educational, vocational and recreational opportunities and to participate alongside their non-disabled peers.

Maximum award: $90,000.

Eligibility: 501(c)3 organizations.

Deadline: June 01, 2012.

P. Buckley Moss Foundation: Grants for Incorporation of the Arts

The P. Buckley Moss Foundation for Children’s Education makes grants for new or evolving programs that integrate the arts into educational programming.

The purpose is to aid and support teachers who wish to establish an effective learning tool using the arts in teaching children who learn differently.

Maximum award: $1,000.

Eligibility: programs for children K-12.

Deadline: September 30, 2012.

Thursday, May 10, 2012

CDC Funding Supports Local Health Department Improvements

The WV Department of Health and Human Resources Bureau for Public Health provided approximately $400,000 in grant funding to West Virginia Local Health Incorporated.

The money will be used to support local health departments. Through grants and activities sponsored by West Virginia Local Health Incorporated, local health departments will work individually and collectively to advance both capacity and capability in the public health system as well as improve efficiency and effectiveness in the delivery of health department services to improve health outcomes.

Eighteen of the forty-nine local health departments in West Virginia will receive funds for activities such as conducting community health assessments, developing community health improvement plans and agency strategic planning.

Additional funds are available through May 06 to support another round of applications by the local health departments.

“It is encouraging that West Virginia Local Health Incorporated is supporting all of the local health departments through these funds to truly improve the health of West Virginians,” said Dr. Marian Swinker, BPH commissioner and state health officer. “It will take all of us working together to make a difference in every community.”

The funding, made possible through the Prevention and Public Health Fund created by the Affordable Care Act of 2010, is administered by the Centers for Disease Control and Prevention, Office for State, Tribal, Local and Territorial Support.

The program aims to make fundamental changes and enhancements in health department organizations and their practices to help to improve the delivery and impact of public health services.

Program funds support increasing health department operational efficiencies to ensure seamless and coordinated services and position local health departments to apply and achieve national-level accreditation by the Public Health Accreditation Board (PHAB).

The West Virginia Association of Local Health Departments recently met to participate in a national effort to improve operating efficiencies, quality and health outcomes. Many DHHR BPH officials attended the meeting.

Monday, May 07, 2012

Fight to Protect Jobs at NASA IV&V, FBI Center & Paves Way for New Federal Prison

Senator Jay Rockefeller today announced that he will continue to fight for jobs in West Virginia, and most recently, he worked to protect and create jobs at multiple federal facilities in the state by preventing funding cuts and securing new funding that will allow a new federal prison in Preston County to be fully staffed and operational next year.

“We must make sure that funding is available to protect jobs in our communities, and I pledge to continue that fight,” said Rockefeller.  “As Congress is taking serious steps to reduce the deficit – including passing more than $2 trillion in cuts over the next 10 years – we need to make sure those cuts are targeted so they don’t hurt good jobs.  It is great news that so many facilities in West Virginia should continue to receive funding – including the critical work that our researchers do at the NASA IV&V Center in Fairmont, and the efforts of those at the FBI Center in Clarksburg to make sure each of us is safe.  And this funding should also help build a new prison in Hazelton which will create hundreds of jobs in the area.  I will continue to fight for these jobs and programs as the appropriations process continues.”

Throughout the FY 2013 appropriations process, Rockefeller is continuing to contact appropriators, cabinet secretaries, federal officials, and others to protect jobs and facilities in West Virginia from cuts and to identify opportunities for expansion.

The Senate Appropriations Committee recently marked up the Commerce, Justice, Science, and Related Agencies (CJS) Appropriations bill for the Fiscal Year 2013.  In this bill, Rockefeller worked to protect and secure funding for the following projects:

•      NASA Independent Verification and Validation Center – Fairmont

Led the effort to restore funding for NASA IV&V activities in West Virginia and protect 40 contractor jobs at the 280-employee facility which were in danger of severe cuts.  As Chairman of the Commerce Committee, Rockefeller has taken a number of steps to promote the innovation capacity of the facility and its importance to national competitiveness.  NASA IV&V checks and double-checks all software used in NASA space missions.

•      FBI Criminal Justice Information Systems Division – Clarksburg

Safeguarded the budget that supports the operations and more than 2,500 employees of the CJIS.  CJIS is responsible for several major FBI programs with the mission of reducing terrorist and criminal activities through programs including Fingerprint Identification, the National Crime Information Center, Uniform Crime Reporting, and the National Incident-Based Reporting System.

•      New Federal Prison – Hazelton

Secured $27 million in federal funding to start a new Federal Correction Institution in Hazelton, which will create about 300 new jobs.  As the third prison in Hazelton, it is expected to be completed this fall.  The appropriated funds will allow the U.S. Bureau of Prisons to fully equip, staff, and begin operations of the facility next year.

•      Seven Existing Federal Prisons - Beckley, Gilmer, Welch, Hazelton (2), Morgantown, Alderson

Protected funding for the U.S. Bureau of Prisons which will maintain operations and funding at all of West Virginia’s federal prisons and prevent job losses at the facilities.  Each prison supports about 300 - 350 employees.

•      Green Bank Observatory – Green Bank

Protected funding and 130 jobs at the observatory which faced funding cuts.  The facility has the largest steerable radio telescope in the world and often collaborates with West Virginia University on research efforts.

G-Fin™: U.S.A.: Economic Brief – 05.04.12

Employment Situation

Non-farm payroll employment rose by 115,000 in April, and the unemployment rate was little changed at 8.1%.

Employment increased in professional and business services, retail trade, and health care, but declined in transportation and warehousing.

Productivity and Costs

Productivity declined 0.5% in the nonfarm business sector in the first quarter 2012; unit labor costs rose 2.0% (seasonally adjusted annual rates).

In manufacturing, productivity grew 5.9% and unit labor costs fell 4.2%.

Metropolitan Area Employment and Unemployment (Monthly)

Jobless rates were lower in March than a year earlier in 342 of the 372 metropolitan areas, higher in 16, and unchanged in 14.

Non-farm payroll employment was up in 267 metropolitan areas over the year, down in 96, and unchanged in 9.

Quarterly Data Series on Business Employment Dynamics

In third quarter 2011, gross job gains from opening and expanding private sector establishments increased to 7.1 million.

Gross job losses from closing and contracting private sector establishments remained unchanged at 6.3 million.

GRANTS AND FUNDING OPPORTUNITIES - 05.07.12

National Weather Association: Sol Hirsch Teacher Grants

National Weather Association Sol Hirsch Teacher Grants improve students’ education in meteorology.

Teachers selected will be able to use the funds to take an accredited course in atmospheric sciences, attend a relevant workshop or conference, or purchase scientific materials or equipment for the classroom.

Maximum award: $750.

Eligibility: K-12 teachers.

Deadline: June 01, 2012.

Saucony: Run for Good

The Saucony Run For Good Program encourages active and healthy lifestyles in children and offers grants to communities and non-profit organizations that initiate and support running and fitness programs for kids.

Maximum award: varies.

Eligibility: 501(c)3 organizations with programs that increase participation in running in order to positively impact the lives of participants.

Deadline: June 13, 2012.

FFVF: Leavey Awards for Excellence in Private Enterprise Education

The Freedoms Foundation at Valley Forge Leavey Awards for Excellence in Private Enterprise Education honor outstanding educators who excite a commitment in their students to the free enterprise system and unleash the entrepreneurial skills of their students at the elementary, junior high school, high school, and college level.

Maximum award: $15,000.

Eligibility: teachers at schools (K-12), colleges, and universities.

Deadline: November 01, 2012.

Promise to Protect West Virginians from Student Loan Rate Spike

Senator Jay Rockefeller today announced he is pushing for legislation to prevent student loan interest rates from doubling on July 01, 2012.

“College students everywhere are struggling to pay their student loan bills,” said Rockefeller.  “The last thing we want to do to them is double the interest rate and force students into a bigger struggle to pay off loans.  Thousands of West Virginia students and families are trying to pay off college debt.  The Senate bill that I am supporting would prevent a surge in rates.  We need to give our students the opportunity to grow and thrive.”

Background:

If Congress does not act by July 01, the interest rate on federal student loans will rise from 3.4% to 6.8%.

According to the non-partisan Congressional Research Service, last year, 71,917 West Virginia students received $306 million in Stafford subsidized loans.

Americans now have over $870 billion in student loan debt.  On average, students graduated college in 2010 with about $25,250 in student loan debt, and because of the tough economy, many then had hard times finding jobs.

Rockefeller has also supported the ‘Know Before You Owe Private Student Loan Act’.

The bill would require private lenders of student loans to provide clear and accurate information to students seeking loans.

Private student loan rates often have uncapped variable interest rates, unlike federal student loans, and recently spiked as high as 18%.

The bill would make sure that students are aware of the potential for such high rates before taking on such risk.

Thursday, May 03, 2012

G-Fin™: Over 1.5 Million Visa, MasterCard Credit Card Numbers Stolen?

Global Payments, the U.S.-based credit card processor company that experienced a security breach affecting plastic issued from Visa and MasterCard, released information about the attack.

Last time, the firm said the breached portion of its processing system was confined to North America and that less than 1.5 million credit card numbers were stolen. The timeframe during which Global Payments was hacked, however, has significantly grown. In other words, the hack could have been much worse.

A hacker break-in at credit and debit card processor Global Payments Inc. dates back to at least early June 2011, Visa and MasterCard warned in updated alerts sent to card-issuing banks in the past week. The disclosures offer the first additional details about the length of the breach since Global Payments acknowledged the incident on March 30, 2012.

Visa and MasterCard send periodic alerts to card-issuing banks about cards that may need to be re-issued following a security breach at a processor or merchant. Indeed, it was two such alerts — issued within a day of each other in the final week of March — which prompted my reporting that ultimately exposed the incident. Since those initial alerts, Visa and MasterCard have issued at least seven updates, warning of additional compromised cards and pushing the window of vulnerability at Global Payments back further each time.

News broke late in March that Visa and MasterCard had warned banks of a major potential breach at a U.S.-based credit card processor. Both Visa and MasterCard then confirmed the breach, although the two also emphasized their own security systems were not compromised. Soon after, Global Payments confirmed it had identified unauthorized access into its processing system.

Previous reports suggested that full Track 1 and Track 2 data was taken, which means perpetrators got enough to counterfeit new cards. Global Payments’ investigation to date has revealed that Track 2 card data may have been stolen, but the company is still not sure. On the other hand, Global Payment was confident enough to say that cardholder names, addresses, and social security numbers were not obtained by the criminals.

Estimates ranged from 50,000 to 10 million credit cards, but Global Payments reduced that to just 15% of the upper bound. Is that number about to jump?

Here is the FAQ:

  Why have card brands removed you from their list of PCI Compliant Service Providers?
  Based on our announcement of unauthorized activity in a limited segment of our North American processing system, some card brands removed us from their list of PCI compliant service providers. They have requested we revalidate our PCI status, which we will do following the current investigation. We anticipate that we will be re-instated to those lists at the conclusion of the re-validation and any required remediation.

  Can you continue to process transactions?
  Yes. Global Payments will continue to process transactions for all card brands with the same high level of service our customers have come to expect.

  Were fraud alerts issued on more cards than 1.5 million card numbers you reported?
  Yes. In any matter of this nature, the card brands cast a wide net to protect consumers, and we supply as much information as possible to assist over the course of the investigation. We continue to believe that less than 1.5 million card numbers may have been exported.

  Do you expect to release additional card numbers?
  The company has delivered, and may continue to deliver, card numbers to the card brands and other third parties to help thwart criminals and combat fraud.

  What does “exported” mean?
  Taken or stolen from our network.

  Could there be broader time periods in question?
  We have not publicly communicated any time periods and there is a full investigation underway. It would be premature and inappropriate for us to speak to or confirm any timeframes until the investigation is complete. We identified and self-reported this incident in early March, and we will continue to provide information to the appropriate parties as revealed by the investigation.

McKinley’s Fears of “Obamacare” in Recent Report—Mandated Changes to Cost Companies Billions

Congressman David B. McKinley, P.E. (R-WV) is responding to a recent study prepared for the Ways and Means Committee to examine data from America’s Fortune 100 companies.  It was revealed these companies could save hundreds of millions of dollars a year under the new health care law by simply terminating health insurance for their workers.

“These workers will be forced into expensive taxpayer-funded health care exchanges which could be financially devastating to many families,” said Rep. McKinley. “I hear this everyday when I talk to my constituents in the district.  They have real fears over this dramatic change in their health care.”

In the report based on the data received, if the 71 Fortune 100 companies quit offering health care coverage and then paid the employer mandate penalty, they could save a total of:

•  $28.6 billion in 2014 (an average savings of over $400 million per company)

•  $422.4 billion from 2014-2023 (an average savings of nearly $6 billion per company)

“The President’s and the Democrat’s health care law threatens the stability and sustainability of the employer-based health insurance system,” said Rep. McKinley.  “As I have stated in the past, many Americans won’t be able to keep the health care plan they have and like now.”

More than 70% of America’s Fortune 100 companies detailed their health care costs for the Committee, providing the ability to analyze how those self-reported costs would compare to ending employer-sponsored insurance and paying the employer mandate penalty.

The National Federation of Independent Business (NFIB) conducted its own survey and found 64 percent of its members are going to pay more, as well, due to the new health care law. The NFIB report says as a result, the majority of small business owners is not as optimistic about their future.

“We’ve had enough finger pointing,” added Rep. McKinley.  “It’s now time to come up with solutions.  Everyone is now holding their breath to see what the U.S. Supreme Court decides.  If it does strike down the current health care law, we don’t want to go back to the old system but have an alternative, bipartisan plan in place.”

Wednesday, May 02, 2012

GCBOE: Schedule of Proposed Levy Rates – Fiscal Year Ending June 30, 2013

G-Fin™: Tax Revenue Is Down in West Virginia

It appears West Virginia is going to have a difficult time reaching its original $100 million projected surplus in tax collections by the end of the fiscal year.

WV Deputy Revenue Secretary Mark Muchow says collections from the state’s severance taxes were $9.6 million below estimates in April contributing to a year-to-date overall revenue collection surplus of $47 million.

WV Officials had projected it would collect about $100 million more in taxes this budget year so the legislature decided to use $65 million of that projection for the increase in the cost of Medicaid.

Muchow says the number may be hard to meet by July 01, 2012.

“We’ll do our best to get there. There is no guarantee that we will get there, but most of that should come through,“ Muchow said.

If the $65 million total is not met, lawmakers may have to cut the state budget.

It has been the energy industry that decreased the surplus numbers.

Muchow says coal production has been down 7-8% in recent months because of a mild winter and problems in Europe.

He says unless there is a very hot summer, steam coal tax collections will continue to be soft.

He says prices for natural gas are also down.

The legislature was hoping for the $100 million revenue surplus for the aforementioned Medicaid costs and the state’s Rainy Day Fund.

Muchow says it would take a 2% revenue growth between now and July to make the $100 million mark.

So far tax collection growth has only been 1.5% this budget year.

“We have some severely significant headwinds in terms of the energy market against us so it will be a bit tough to get to the 100-million dollar mark at this point,“ Muchow said.

The coal market is expected to be soft for at least the next year.

Tuesday, May 01, 2012

G-Comm™: Gilmer Countians & GCDA Need to Take A Proactive Part in Gilmer County’s Future

The House of Representatives is considering H.R. 1380, New Alternative Transportation To Give Americans Solutions Act Of 2011.

This would provide a significant source of economic support for Gilmer County. Oil and gas development and the resulting income for Gilmer County have been one of the contributors to our economy since the first oil well was drilled in the early 1900s.

The bill supports the use of natural gas as a fuel for vehicles. It would provide tax credits for manufacturers, infrastructure builders and consumers that either supply, support or use vehicles powered by natural gas.

Being able to use natural gas for vehicle fuel provides consumers with a lower cost alternative to high gasoline prices. It would also provide additional motivation for the development of shale oil and gas resources and provide a boost to our country’s energy self-sufficiency.

America currently imports nine to twelve million barrels of foreign oil daily. Increased natural gas production and its use for transportation could reduce the demand for gasoline and the support for high global oil prices.

Congressman McKinley proved he is a friend of coal during his recent town hall meeting at Glenville State College. He has worked constantly to support coal mining and the associated jobs in West Virginia.

In the case of natural gas, Congressman McKinley does not currently support Bill 1380 because of his anti-subsidy stance.

While subsidies have often led to abuse and loss of our tax dollars, the support of natural gas as a vehicle fuel would directly benefit consumers and lead to less dependence on foreign oil. It’s time for Congressman McKinley to prove he’s also a friend of natural gas.

This is an opportunity for Gilmer Countians and our own Gilmer County Economic Development Association to take a proactive part in Gilmer County’s future by contacting Congressman McKinley’s office and expressing support for Bill 1380.

By also encouraging your friends to contact his office, we can make a difference not only in our county’s future but also in supporting America’s energy independence.

You can contact Congressman McKinley’s office in Washington DC at 202.225.4172 or by email at “repmckinley@mail.house.gov”. His staff assistant for energy is Corey Toth.

~~  Darren Feit ~~

Ron Paul: The Costs Of War

This month Veterans Affairs Secretary Eric K. Shinseki announced the addition of some 1,900 mental health nurses, psychiatrists, psychologists, and social workers to its existing workforce of 20,590 mental health staff in attempt to get a handle on the epidemic of suicides among combat veterans. Unfortunately, when presidents misuse our military on an unprecedented scale – and Congress lets them get away with it – the resulting stress causes military suicides to increase dramatically, both among active duty and retired service members.  In fact, military deaths from suicide far outnumber combat deaths. According to an article in the Air Force Times this month, suicides among airmen are up 40 percent over last year.

Considering the multiple deployments service members are forced to endure as the war in Afghanistan stretches into its second decade, these figures are sadly unsurprising.

Ironically, the same VA Secretary Eric Shinseki was forced to retire from the Army by President Bush for daring to suggest that an invasion and occupation of Iraq would not be the cakewalk that neoconservatives promised. Then Deputy Secretary of Defense Paul Wolfowitz, who is not a military veteran, claimed that General Shinseki was “wildly off the mark” for suggesting that several hundred thousand soldiers would be required to secure post-invasion Iraq. Now we see who was right on the costs of war.

In addition to the hidden human costs of our seemingly endless wars are the economic costs. In 2008, Nobel Prize winning economist Joseph Stiglitz wrote “The Three Trillion Dollar War: The True Cost of the Iraq Conflict.“ Stiglitz illustrates that taking into account the total costs of the war, including replacing military equipment and caring for thousands of wounded veterans for the rest of their lives, the Iraq war will cost us orders of magnitude greater than the 50 billion dollars promised by the White House before the invasion. Add all the costs of Afghanistan into the mix, wrote Stiglitz, and the bill tops $7 trillion.

Is it any wonder why our infrastructure at home crumbles, healthcare is more expensive and harder to come by, and unemployment together with inflation continue their steady rise? Imagine the productive power of that seven trillion dollars in our private sector. What could it have done were it in private hands; what may have been discovered, what diseases might have been cured, what might have been built, how many productive jobs created?

With the bills coming due for our decade of reckless military action, the cuts rarely come from the well-connected military industrial complex with their lobbyists and powerful political allies. In President Obama’s 2013 budget, troop strength is to be cut significantly while enormously expensive and largely superfluous weapons systems emerge essentially unscathed. As defense analyst Winslow Wheeler wrote this month, costs of the “next generation” fighter, the F-35, will increase by another $289 million. This despite the fact that the fighter is badly designed and already outdated, a “virtual flying piano” writes Wheeler.

The military contractors building monstrosities like the F-35 are politically connected and thus protected. Unfortunately, returning military veterans are less so. In the same 2013 budget, the White House proposes to increase medical and pharmaceutical costs paid by veterans while reducing their cost of living increases. And how many years of increasingly alarming mental illness and suicide statistics has it taken for the modest increase in resources to be made available?

Those who predicted the real costs of our decade of global military conquest were ridiculed, scoffed at, and fired. History has now shown us that much of what they warned was correct. America is clearly less secure after a decade of unnecessary wars. It is more vulnerable and closer to economic collapse. Its military is nearly broken from years of abuse. Will we come back to our senses?

G-Comm&trade: To Maximize Shale Gas Development Benefits, We Have to Get It Right at the Beginning

You may have read some stories in recent days about a field hearing I held as Chairman of the Senate Commerce, Science and Transportation Committee.

The title we put on it was “Shale Gas Development:  Meeting the Transportation, Pipeline, and Rail Needs to Renew American Manufacturing.” Now, that’s just a fancy way of saying we talked about a subject you’re familiar with: the boom of shale gas development in West Virginia.

We touched on a number of things during the discussion. For example, Marshall County Sheriff John Gruzinskas told us all about the damage to his community’s roads from heavy trucks, and danger from out-of-state subcontractors who are unfamiliar with our winding West Virginia roads. We talked about what is being done by responsible companies to mitigate those problems, and whether we must do more like hiring drivers who know our roads.

But the big picture is that shale gas offers tremendous opportunity to West Virginia. The experts I convened know what it will take to guarantee West Virginia maximizes the full potential of this booming industry. Through the Commerce Committee, my aim was to look at the infrastructure needs we must meet to mobilize a rebirth of West Virginia manufacturing.

The fact is, every aspect of shale development presents us with both challenges and opportunities. In my experience, the only way to maximize opportunities over the long haul is to understand and tackle the challenges smartly. Whether highway issues or pipeline safety, if West Virginia gets it right up front – if we find and follow best practices, meet developers’ needs and address community concerns – future success knows no bounds.

We all know that the existence of natural gas in West Virginia isn’t new. What’s different today is that it can accessed more affordably with new technology and that’s creating an economic boom with far-reaching impacts. That’s why you see evidence of shale development all the time. It’s hard to miss.

My hearing was unique from other discussions about shale gas development and reflected the jurisdiction of the Commerce Committee over aspects of the industry. The point is that there are growing infrastructure needs that must be addressed as a high priority.

Roads and trucks:
I know the state and industry have worked together to address local road needs, and many are vigilant about repairs and safety. Road damage happens, but so do repairs and preventive maintenance. It’s critical that we understand how companies and communities can work together, better.

Natural gas pipelines:
Gas development is happening across a broad region, and my Committee has an interest in the safety of pipelines. We need to be vigilant in building and operating them to minimize impact on communities while assuring public safety. I was happy we identified some issues to be aware of, and how it’s important that we work together to move forward.

Infrastructure needs of manufacturers:
Chemical facilities rely on shale gas liquids, and our state has a long history of chemical manufacturing. We need safe, affordable and competitive rail infrastructure to support the viable movement of goods to market and for exporting.

I’m convinced that if we wisely approach each of these issues now, we can fully capitalize on this opportunity in front of us.

You hear a lot about an ethane “cracker” plant, and for good reason. The processing of ethane to ethylene is a game-changer for jobs, especially those in manufacturing and chemical sectors. This potential manufacturing renaissance – growing out of the shale boom – could ripple positive effects across our state for years to come.

But shale gas development, and the promise it holds for West Virginia, is about more than one plant. It’s about smart solutions for more than one challenge, be it road, rail or anything else.

It’s about doing what we can—when we can—to make sure our state is all that it can be. Shale gas development holds promise. For our future and our families, it’s up to us all to get it right. 

Monday, April 30, 2012

G-Fin™: U.S.A.: Economic Brief – 04.27.12

Employment Cost Index

Wages and salaries and benefit costs for civilian workers rose 0.5%, seasonally adjusted, from December 2011 to March 2012.

Over the year, compensation rose 1.9%, wages and salaries 1.7%, and benefits 2.7%.

Mass Layoffs (Monthly)

In March, employers took 1,273 mass layoff actions involving 121,310 workers.

Mass layoff events decreased by 20 from February, while associated initial claims increased by 1,847.

Gross Domestic Product, 1st quarter 2012 (Advance Estimate)

Real gross domestic product—the output of goods and services produced by labor and property located in the United States—increased at an annual rate of 2.2% in the first quarter of 2012 (that is, from the fourth quarter to the first quarter).

In the fourth quarter of 2011, real GDP increased 3.0%.

Advance Gross Domestic Product by Industry, 2011

Durable-goods manufacturing, professional, scientific, and technical services, and information services were the leading contributors to U.S. economic growth in 2011, according to advance statistics on the breakout of real gross domestic product (GDP) by industry.

Overall, 15 of 22 industry groups contributed to the 1.7% increase in real GDP.

Local Area Personal Income, 2010

Among large counties (those with a population of at least 250,000), personal income grew 3.7% in 2010, equaling the growth rate for the nation.

Personal income in small and medium-sized counties grew 3.9% and 3.6% respectively in 2010.

Lewis County Job Fair Showcases Gas Field Opportunities

A job fair for those who want to get into the gas drilling industry will be held on Tuesday, May 01, 2012.

The North Central West Virginia Oil and Gas Fair will be at the Jackson’s Mill conference center near Weston.

The State Journal reports Chesapeake Energy, Nabor’s Well Services, U.S. Well Services and Weatherford International are among more than a dozen companies meeting with prospective employees.

The Lewis County Economic Development Authority is among the sponsors.

Authority director Doug Parsons says the fair features job listings and work applications, as well as free training opportunities for those who qualify.

Classes will be offered to help applicants with interview skills and resume writing.

Parsons says the gas industry has helped put lower Lewis County’s unemployment rate.

GRANTS AND FUNDING OPPORTUNITIES - 04.30.12

EPA: Sense of Wonder Contest

To honor the late preservationist and ecologist Rachel Carson, the EPA, Generations United, and the Rachel Carson Council, Inc., are holding a photo, essay, and poetry contest “that best expresses the Sense of Wonder that you feel for the sea, the night sky, forests, birds, wildlife, and all that is beautiful to your eyes.“

In her book The Sense of Wonder (written in the 1950s and published in a magazine in 1956), Carson used lyrical passages about the beauty of nature and the joys of helping children develop a sense of wonder and love of nature.

Maximum award: publication on the websites of EPA Aging Initiative, Generations United, and Rachel Carson Council, Inc.

Eligibility: entries must be joint projects involving a person under age 18 and a person age 50 or older.

Deadline: June 01, 2012.

AAPT: Frederick and Florence Bauder Endowment for the Support of Physics Teaching

The American Association of Physics Teachers Frederick and Florence Bauder Endowment for the Support of Physics Teaching was established to support special activities in the area of physics teaching.

Activities can include but are not limited to the development and distribution of innovative apparatuses for physics teaching; traveling exhibits of apparatuses; and local workshops.

Maximum award: $500.

Eligibility: AAPT members.

Deadline: July 01, 2012.

Best Buy: Community Grants Program

Through the Community Grants Program, Best Buy teams across the United States select non-profit organizations that give teens access to opportunities through technology.

Maximum award: $10,000.

Eligibility: non-profit organizations located within 50 miles of a Best Buy store or other facility that serve a diverse population in local or regional communities, build academic, leadership and life skills in early adolescents (primarily ages 13-17), and serve at-risk populations.

Deadline: August 01, 2012.

Sunday, April 29, 2012

Congresswoman Weighs-in on What EPA Official Said

West Virginia Second District Congresswoman Shelley Moore Capito believes controversial statements that surfaced this week from an EPA regional administrator are more than just a bad choice of words.

A video came out of 2010 statements made by the EPA’s Al Armendariz where he suggested oil and gas companies that don’t follow regulations should be treated in a way the Roman Empire operated.

“Like when the Romans conquered the villages in the Mediterranean, they’d go into little villages in Turkish towns and they’d find the first five guys they saw and crucify them,“ Armendariz said in a video recording.

He has since apologized for the remarks.

Congresswoman Capito said Friday on MetroNews Talkline the remarks are more about the attitude of the Obama administration’s EPA than anything else.

“In my view it says something larger about the EPA to me. It shows the tactics that we’ve seen exhibited in West Virginia,“ Capito said.

The congresswoman points to the veto of the Spruce Mine permit and the delay in approving other mining projects.

“The EPA has an attitude of a sledgehammer coming at you with no recourse or no ability to get some common sense in,“ she said.

Both the Obama administration and the EPA have distanced themselves from the comments.

The EPA has a statement on its website addressing the controversy:

“It is deeply unfortunate that in a 2010 video an EPA official inaccurately suggested we are seeking to ‘make examples’ out of certain companies in the oil and gas industry.“

Capito says Armendariz’s comments show absence of any economic balance and she believes that’s the way the EPA operates.

Capito stopped short of saying Armendariz should be fired.

“I don’t know if he needs to be fired. I don’t like his attitude. If the administrator doesn’t agree with it she should fire him. We’ll see what she does,“ Capito said.

Friday, April 27, 2012

G-Fin™: Jobless Claims Barely Fall in Latest Week

The number of Americans lining up for jobless benefits fell only slightly last week and a trend measure rose, the latest sign of a weaker pace of healing in the still-struggling labor market.

Initial claims for state unemployment benefits dropped by 1,000 to a seasonally adjusted 388,000, the Labor Department said on Thursday. The prior week’s figure was revised up to 389,000 from the previously reported 386,000.

Economists polled by Reuters had forecast new claims falling to 375,000 last week.

Prices for U.S. government debt extended gains following the release of the data. U.S. stock index futures edged lower.

The four-week moving average for new claims, a closely followed measure of labor market trends, rose 6,250 to 381,750, its highest since the week that ended January 07, 2012.

The report was the latest example of fizzling momentum in the labor market recovery.

Employers added 120,000 new jobs to their payrolls in March, the least since October, after averaging 246,000 jobs per month over the prior three months.

New claims for unemployment benefits fell sharply during early winter but the improvement has largely stalled in recent weeks.

Other reports have shown the economy losing a step at the close of the first quarter. Industrial output was flat in March for the second straight month.

Federal Reserve Chairman Ben Bernanke on Wednesday said the U.S. central bank “would not hesitate” to launch another round of bond purchases to drive borrowing costs lower if it looked like the economy needed it.

Many economists believe a mild winter boosted payrolls growth earlier in the year and view recent stagnation as payback for those gains. But the longer that claims stay elevated, the more worried economists will be that the economy is losing vigor.

A Labor Department official said there was nothing unusual in the state-level data in the claims report.

The number of people still receiving benefits under regular state programs after an initial week of aid rose 3,000 to 3.315 million in the week ended April 14, 2012.

The number of Americans on emergency unemployment benefits fell 45,930 to 2.73 million in the week ended April 07, 2012, the latest week for which data is available.

A total of 6.68 million people were claiming unemployment benefits during that period under all programs, down 87,160 from the prior week.

1 in 2 New Graduates Are Jobless or Underemployed

The college class of 2012 is in for a rude welcome to the world of work.

A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don’t fully use their skills and knowledge.

Young adults with bachelor’s degrees are increasingly scraping by in lower-wage jobs — waiter or waitress, bartender, retail clerk or receptionist, for example — and that’s confounding their hopes a degree would pay off despite higher tuition and mounting student loans.

An analysis of government data conducted for The Associated Press lays bare the highly uneven prospects for holders of bachelor’s degrees.

Opportunities for college graduates vary widely.

While there’s strong demand in science, education and health fields, arts and humanities flounder. Median wages for those with bachelor’s degrees are down from 2000, hit by technological changes that are eliminating midlevel jobs such as bank tellers. Most future job openings are projected to be in lower-skilled positions such as home health aides, who can provide personalized attention as the U.S. population ages.

Taking underemployment into consideration, the job prospects for bachelor’s degree holders fell last year to the lowest level in more than a decade.

“I don’t even know what I’m looking for,“ said Michael Bledsoe, who described months of fruitless job searches as he served customers at a Seattle coffeehouse. The 23-year-old graduated in 2010 with a creative writing degree.

Initially hopeful that his college education would create opportunities, Bledsoe languished for three months before finally taking a job as a barista, a position he has held for the last two years. In the beginning he sent three or four resumes day. But, Bledsoe said, employers questioned his lack of experience or the practical worth of his major. Now he sends a resume once every two weeks or so.

Bledsoe, currently making just above minimum wage, says he got financial help from his parents to help pay off student loans. He is now mulling whether to go to graduate school, seeing few other options to advance his career. “There is not much out there, it seems,“ he said.

His situation highlights a widening but little-discussed labor problem. Perhaps more than ever, the choices that young adults make earlier in life — level of schooling, academic field and training, where to attend college, how to pay for it — are having long-lasting financial impact.

“You can make more money on average if you go to college, but it’s not true for everybody,“ said Harvard economist Richard Freeman, noting the growing risk of a debt bubble with total U.S. student loan debt surpassing $1 trillion. “If you’re not sure what you’re going to be doing, it probably bodes well to take some job, if you can get one, and get a sense first of what you want from college.“

Andrew Sum, director of the Center for Labor Market Studies at Northeastern University who analyzed the numbers, said many people with a bachelor’s degree face a double whammy of rising tuition and poor job outcomes. “Simply put, we’re failing kids coming out of college,“ he said, emphasizing that when it comes to jobs, a college major can make all the difference. “We’re going to need a lot better job growth and connections to the labor market, otherwise college debt will grow.“

By region, the Mountain West was most likely to have young college graduates jobless or underemployed — roughly 3 in 5. It was followed by the more rural southeastern U.S., including Alabama, Kentucky, Mississippi and Tennessee. The Pacific region, including Alaska, California, Hawaii, Oregon and Washington, also was high on the list.

On the other end of the scale, the southern U.S., anchored by Texas, was most likely to have young college graduates in higher-skill jobs.

The figures are based on an analysis of 2011 Current Population Survey data by Northeastern University researchers and supplemented with material from Paul Harrington, an economist at Drexel University, and the Economic Policy Institute, a Washington think tank. They rely on Labor Department assessments of the level of education required to do the job in 900-plus U.S. occupations, which were used to calculate the shares of young adults with bachelor’s degrees who were “underemployed.“

About 1.5 million, or 53.6%, of bachelor’s degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41%, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields.

Out of the 1.5 million who languished in the job market, about half were underemployed, an increase from the previous year.

Broken down by occupation, young college graduates were heavily represented in jobs that require a high school diploma or less.

In the last year, they were more likely to be employed as waiters, waitresses, bartenders and food-service helpers than as engineers, physicists, chemists and mathematicians combined (100,000 versus 90,000%). There were more working in office-related jobs such as receptionist or payroll clerk than in all computer professional jobs (163,000 versus 100,000%). More also were employed as cashiers, retail clerks and customer representatives than engineers (125,000 versus 80,000%).

According to government projections released last month, only three of the 30 occupations with the largest projected number of job openings by 2020 will require a bachelor’s degree or higher to fill the position — teachers, college professors and accountants. Most job openings are in professions such as retail sales, fast food and truck driving, jobs that aren’t easily replaced by computers.

College graduates who majored in zoology, anthropology, philosophy, art history and humanities were among the least likely to find jobs appropriate to their education level; those with nursing, teaching, accounting or computer science degrees were among the most likely.

In Nevada, where unemployment is the highest in the nation, Class of 2012 college seniors recently expressed feelings ranging from anxiety and fear to cautious optimism about what lies ahead.

With the state’s economy languishing in an extended housing bust, a lot of young graduates have shown up at job placement centers in tears. Many have been squeezed out of jobs by more experienced workers, job counselors said, and are now having to explain to prospective employers the time gaps in their resumes.

“It’s kind of scary,“ said Cameron Bawden, 22, who is graduating from the University of Nevada-Las Vegas in December with a business degree. His family has warned him for years about the job market, so he has been building his resume by working part time on the Las Vegas Strip as a food runner and doing a marketing internship with a local airline.

Bawden said his friends who have graduated are either unemployed or working along the Vegas Strip in service jobs that don’t require degrees. “There are so few jobs and it’s a small city,“ he said. “It’s all about who you know.“

Any job gains are going mostly to workers at the top and bottom of the wage scale, at the expense of middle-income jobs commonly held by bachelor’s degree holders. By some studies, up to 95% of positions lost during the economic recovery occurred in middle-income occupations such as bank tellers, the type of job not expected to return in a more high-tech age.

David Neumark, an economist at the University of California-Irvine, said a bachelor’s degree can have benefits that aren’t fully reflected in the government’s labor data. He said even for lower-skilled jobs such as waitress or cashier, employers tend to value bachelor’s degree-holders more highly than high-school graduates, paying them more for the same work and offering promotions.

In addition, U.S. workers increasingly may need to consider their position in a global economy, where they must compete with educated foreign-born residents for jobs. Longer-term government projections also may fail to consider “degree inflation,“ a growing ubiquity of bachelor’s degrees that could make them more commonplace in lower-wage jobs but inadequate for higher-wage ones.

That future may be now for Kelman Edwards Jr., 24, of Murfreesboro, Tenn., who is waiting to see the returns on his college education.

After earning a biology degree last May, the only job he could find was as a construction worker for five months before he quit to focus on finding a job in his academic field. He applied for positions in laboratories but was told they were looking for people with specialized certifications.

“I thought that me having a biology degree was a gold ticket for me getting into places, but every other job wants you to have previous history in the field,“ he said. Edwards, who has about $5,500 in student debt, recently met with a career counselor at Middle Tennessee State University. The counselor’s main advice: Pursue further education.

“Everyone is always telling you, ‘Go to college,‘“ Edwards said. “But when you graduate, it’s kind of an empty cliff.“

~~  AP ~~

Thursday, April 26, 2012

Romney Backs Student Loan Proposal Obama Supports

Republican presidential candidate Mitt Romney on Monday embraced a student loan proposal that President Barack Obama is selling on the campaign trail and refused to endorse Senator Marco Rubio’s conservative immigration plan aimed at helping young illegal immigrants.

The two policy positions signaled an effort by Romney to move to the political center as he works to court critical general election swing voters - including young voters and Hispanic voters - after a brutal primary fight.

“I think young voters in this country have to vote for me if they’re really thinking of what’s in the best interest of the country and what’s in their personal best interest,“ Romney said as he stood next to Rubio, R-FL.

Romney was campaigning in Pennsylvania a day before the state’s primary - he doesn’t have serious opposition now that Senator Rick Santorum has dropped out of the race - and answered reporters’ questions for the first time since effectively securing the GOP presidential nomination.

House Republicans have said the estimated $6 billion annual cost of extending low-interest rates for student loans isn’t affordable without offsetting cuts but that they are still deciding whether to support a temporary extension. Obama has started pushing Congress for the extension and planned a three-state tour this week to warn students of the potential financial catastrophe they will face if Congress fails to act.

Interest rates are set to double on July 01, 2012 from 3.4% to 6.8%, on a popular federal loan for low- and middle-income undergraduates.

“I support extending the temporary relief on interest rates for students,“ Romney said Monday, a day before five states hold primaries, though he did not offer specifics on how the extension should be paid for or how long it should last. He said he supports the extension because of “extraordinarily poor conditions in the job market.“

Romney refused to embrace a Rubio proposal that would allow young illegal immigrants to remain in the United States to work or study. He did say there were provisions to “commend” it and that his campaign would “study the issue.

Romney said during the South Carolina primary that all illegal immigrants should return to their home country and get in line to be eligible for U.S. citizenship. Rubio’s still-evolving bill would allow young illegal immigrants who graduated from high school and have no criminal record to obtain a nonimmigrant visa. They could stay in the United States, obtain a drivers’ license and work or continued their studies but would have no special path to citizenship.

Romney’s answers illustrate the careful line he has to walk as he transitions from the primary to the general election, where he’ll have to tussle with Obama for support from the Hispanic, female and young voters who propelled Obama to victory in 2008.

Obama, meanwhile, has to hang on to those constituencies. His tour through North Carolina, Colorado and Iowa on Tuesday and Wednesday is intended to rally young supporters.

Romney’s language on loans, for example, was distinctly different from the answer he gave when he was last asked about the issue. Prior to the Illinois primary on March 20, he told a young woman concerned about student debt to “get ready for President Obama’s claim.“

“I know he’s going to come up at some point and talk about how he’s going to make it vanish. And that’s another, ‘Here, I’ll give you something for free.‘ And I’m not going to do that,“ Romney said. During that same answer, he said he wanted to keep interest rates low.

Romney also tacked to the right on immigration during the primary. In recent days, he’s been highlighting Hispanic concerns at events while leaving out much of the rhetoric he embraced earlier this year. He said Monday that he would outline additional changes to the immigration system in the coming months, particularly with the visa system that governs who is allowed to work in the U.S.

“I anticipate before the November election we’ll be laying out whole series of policies that relate to immigration, and obviously our first priority is to secure the border, and yet we also have very substantial visa programs in this country,“ Romney said. “How we adjust our visa program to make it fit the needs of our country is something I’ll be speaking about down the road.“

Still, he wouldn’t go so far as to embrace Rubio’s immigration proposal. Rubio has said his goal is to craft a Republican compromise on the so-called DREAM Act that Romney could support. The DREAM Act, which has languished on Capitol Hill, would provide a path to citizenship for some young illegal immigrants who attend college or serve in the military.

The Cuban-American senator is considered a top potential pick for vice president. He’s the latest in a string of possible running mates to campaign with Romney and is the first to get an audition since former Senator Rick Santorum, R-PA, left the race and Romney staffers formally began organizing the process of searching for a No. 2.

Romney declined Monday to say if Rubio was on his list of vice presidential candidates. He said his campaign is still setting up the infrastructure that’s required to scrutinize potential nominees, including hiring legal and accounting staff.

The former Massachusetts governor also refused to say whether Rubio is experienced enough to serve as his No. 2. Romney often criticizes Obama, who was a first-term senator when he was elected president, as a “nice guy” who is “in over his head,“ implying that the Democratic incumbent didn’t have the experience he needed for the job.

AAA: Gasoline Prices in West Virginia Are Continuing to Drop

The average price for a gallon of regular, unleaded gallon of gas has dropped 5.2 cents from a week ago to $3.86.  That is 2 cents higher than the national average.

Crude oil prices were lower as bearish economic news overseas impacted commodities and equities markets. While the International Monetary Fund (IMF) late Friday approved additional funds to address European sovereign debt issues, market watchers have expressed concern that further action to address these financial problems may be complicated moving forward by changing political climates in euro zone countries.

Additionally, weaker than expected economic data from China added to downward pressure on oil prices for the day. Weakening economies overseas would be expected to consume less crude oil which puts downward pressure on prices.

At the close of formal trading on the NYMEX, West Texas Intermediate (WTI) crude oil settled down 77 cents per barrel at $103.11.

WTI prices were relatively flat last week, despite news early in the week that the Seaway Pipeline would likely complete its reversal in May, which would be earlier than initial forecasts. Beginning last year, a backlog of WTI crude oil at its delivery point in Cushing, Oklahoma resulted in the price difference or “spread” between WTI and Brent crude (the global benchmark price) widen to nearly $30 per barrel.

The Seaway Pipeline will carry some 150,000 barrels per day from Cushing to the Gulf Coast and the global market. This expectation has seen the spread between the two products narrow over the last week as traders begin to price in the ability of this additional capacity to alleviate some of the backlog that has caused WTI to trade at a relatively discounted price. While some positive global economic news late in the week provided some upward pressure on prices, it did little to offset the growing chorus of analysts suggesting that crude oil and wholesale gasoline may have reached or be near a seasonal peak.

Much of the story for 2012 has been increasing gas prices at the pump; even as demand for gasoline has decreased versus the same period in 2011 and WTI crude prices have remained relatively flat, albeit at levels above $100 per barrel since February 13. During the months of February and March, the national average price at the pump increased for all but four days — rising 48 cents from $3.45 on February 1 to $3.93 on March 31. Since the beginning of April, this trend has reversed and prices have decreased for all but seven days on the month.

The current national average price for a gallon of regular self-serve gasoline is $3.86. This is five cents cheaper than the price one week ago, three cents cheaper than one month ago and only fractions of a penny more expensive than one year ago.

If today’s national average price is less than the price on the same day in 2011, it would mark the first time since October 26, 2009 that the national average price at the pump has dipped below the year ago level. As recently as three weeks ago, this year-over-year price increase was as high as 28 cents.

This week’s average prices: West Virginia Average =  $3.864

Average price during the week of April 17, 2012 =  $3.916

Average price during the week of April 26, 2011 =  $3.928

Today’s National Average Price =  $3.849

A year ago, the average price in West Virginia was $3.93.

Area Gasoline Prices on 04.05.12:

Arnoldsburg = $3.95

Buckhannon = $3.89

Burnsville = $3.89

Clarksburg = $3.78 - $3.92

Gassaway =  $3.89

Glenville = $3.95

Grantsville =  $3.95

Harrisville = $3.89

Jane Lew = $3.89

Linn = $3.99

Parkersburg = $3.68 - $3.73

Pennsboro =  $3.89

Spencer = $3.??

Sutton =  $3.89

Weston =  $3.89

West Union =  $3.85

Wednesday, April 25, 2012

County-By-County Unemployment Rates Tell the Story – March 2012

The seasonally adjusted unemployment rate in West Virginia declined three-tenths of a percentage point in March 2012 to 6.9%.

Unemployment rates declined in 53 counties as well.

The unemployment rate was unchanged in Berkeley County (8.7%).

Only Morgan County (8.9%) reported a rising unemployment rate, a slight increase of one-tenth of a percentage point.

Counties reporting unemployment rates below 6% included Harrison (5.9%), Lewis (5.9%), Kanawha (5.8%), Marion (5.8%), Pendleton (5.7%), Putnam (5.5%), Jefferson (5.1%), and Monongalia (4.4%).

Counties reporting unemployment rates greater than 12% included Brooke (12.3%) and Hancock (12.9%).

A Guide to Student Loans

President Barack Obama and his likely GOP opponent, Mitt Romney, agree on an issue of importance to college students: Keeping the interest rate low on a popular federally subsidized student loan issued to low-and middle-income students.

The interest rate is scheduled to double on July 01 from 3.4% to 6.8% on subsidized Stafford loans unless Congress acts.

About 7 million undergraduates would be affected, raising costs by an average of $1,000 each, according to the White House.

President Obama embarked on Tuesday on a tour through college campuses in North Carolina, Colorado and Iowa to discuss the rate increase. Before he left, however, Romney stole a little wind from his sails by saying he, too, agreed with the need to stop the rate from doubling.

Some questions and answers about student loan debt and the scheduled interest rate hike.

Q: How big of a problem is student loan debt?

A: U.S. student loan debt has surpassed credit card and auto-loan debt, with some estimates putting it at $1 trillion. This debt jeopardizes the fragile recovery and increases the burden on taxpayers. About two-thirds of student loan debt is held by people under 30, according to the New York Fed. Borrowers owe a median $12,800, an amount even advocates for student borrowers acknowledge is usually manageable and more than worthwhile factoring in the economic benefits of a college degree. However, not all borrowers complete a degree—and the average balance is considerably higher than the median: about $23,000. That reflects a relatively small number of borrowers with very large balances.

Q: Are there signs of improvement?

A: Unlike other forms of consumer debt, student loan debt is growing. The most recent figures show new college graduates with loans owed more than $25,000 when they left school, up 5% from the year before. Mark Kantrowitz of the website Finaid.org estimates that 85% of student loan debt is owed to the federal government, and those loans typically carry lower rates and borrower protections such as income-based repayment maximums.

However, the number of borrowers defaulting on federal loans has jumped sharply recently. Of 3.6 million borrowers who entered repayment in fiscal 2009, nearly 9% defaulted with two years, up from 7% for the previous year’s cohort. Meanwhile, the College Board said last fall that the average in-state tuition and fees at four-year public colleges rose an additional $631, or about 8%, compared with a year ago. The cost of a full credit load has passed $8,000—an all-time high.

Q: Why is the interest rate on subsidized Stafford loans expected to double?

A: Acting on a Democratic campaign promise in 2006, Democrats in 2007 crafted the law to progressively lower the interest rate from 6.8% to the 3.4% rate—where it is this school year—and then return to the original 6.8% in 2012. Republican President George W. Bush signed the deal into law after it was approved by bipartisan but Democratic-heavy majorities in both chambers. Congress wrote the law this way for one simple reason, says Jason Delisle, director of the federal education budget project at the New America Foundation: cost. It would cost an additional $6 billion annually to keep the interest rate at 3.4%.

Q: Are there people who aren’t affected by the rate increase?

A: Students issued loans before July 1 won’t be hit with the higher rate. It also doesn’t affect the interest rates on unsubsidized Stafford loans (now at 6.8%) and PLUS loans for parents (now at 7.9%). Unlike subsidized Stafford loans, unsubsidized Stafford loans are not based on financial need.

Q: What is the reaction from Congress?

A: Rep. John Kline, R-Minn., chairman of the House Education and the Workforce Committee, has said he and his Republican colleagues are exploring options “in hopes of finding a responsible solution that serves borrowers and taxpayers equally well.‘’ He said lofty campaign promises put them in an “untenable situation’‘ and they now must choose between allowing interest rates to rise or “piling billions of dollars on the backs of taxpayers.‘’ In the Senate, Sen. Tom Harkin, D-Iowa, chairman of the Senate Committee on Health, Education, Labor and Pensions, said this week he intends to introduce legislation that would extend the interest rate for another year. Then, next year, Harkin said when the Higher Education Act is up for reauthorization, a longer term fix could be reached. He said they are looking at funding options.

Tuesday, April 24, 2012

State Rejects Funding For Arbuckle Site School

The State’s School Building Authority (SBA) announced that it will not fund construction of a new school at the Arbuckle trust land, but funds for the Linn Gilmer-Lewis joint school site were approved.

A recommendation for new schools at the two sites was recommended by the Comprehensive Education Facility Plan committee headed by Ms. Naisa Butcher, the Gilmer County High School’s principal.

Mr. Ron Blankenship, the State’s superintendent of Gilmer County schools, lobbied Charleston for the two projects.

With the decision made by the SBA the Coalition’s members emphasize the necessity for everyone at all levels to work together harmoniously to get a comprehensive school system plan developed for the remainder of Gilmer County not affected by the joint school decision.

An independent blue-ribbon group is needed for the planning.

It must have a proven record of success with school system planning while functioning with strict objectivity and full transparency.

To ensure success with the planning it will be essential for the group to listen to the County’s citizens to gain valuable input.

When a comprehensive plan is completed, it would be unrealistic to guarantee that everyone in the County will be pleased with the outcome.

However, through adherence to principled problem-solving practices the challenging task can succeed to get a plan citizens can live with.

Appreciation is extended to the hundreds of Gilmer County citizens who supported the Coalition in various ways including making telephone calls, writing letters to elected officials, giving words of encouragement and advice, and providing information for dissemination to the public.

Normantown/Rosedale citizens who sent their petition to Charleston were excellent examples of community involvement too.

A special person to thank for the Coalition’s endeavors is Mr. Dave Ramezan who through the Gilmer Free Press allowed voices of Gilmer’s citizens to be heard.

Also, Dr. David Corcoran contributed by involving Ms. Dendra Miller with investigative reporting for the Democrat/Pathfinder.

The question now is what will we do now?

Without doubt the challenge will require good faith collaboration from all parties including Dr. Marple’s State Department of Education.

~~  Dr. Bill Simmons - Gilmer Schools Coalition ~~

Monday, April 23, 2012

West Virginia School Building Authority Needs Grants Announced - 04.23.12

*Indicates Contingent on a County Bond Passage

**Includes QZAB funding in the amount of $824,000.

G-Fin™: U.S.A.: Economic Brief – 04.20.12

Regional and State Employment and Unemployment (Monthly)

In March, 30 states reported over-the-month unemployment rate decreases, 8 had increases, and 12 and the District of Columbia had no change.

Nonfarm payroll employment increased in 29 states and the district, decreased in 20 states, and was unchanged in Alabama.

Usual Weekly Earnings of Wage and Salary Workers

Median weekly earnings of the nation’s 100.8 million full-time wage and salary workers were $769 in the first quarter of 2012.

This was 1.9% higher than a year earlier, compared with a gain of 2.8% in the CPI-U.

GRANTS AND FUNDING OPPORTUNITIES - 04.23.12

MetLife Foundation: Partners in Arts Education Program

The MetLife Foundation Partners in Arts Education Program enhances arts learning in K-12 public schools by supporting exemplary community school/public school partnerships that serve large numbers of public school students during the school day; exemplify best practices in creating and sustaining effective partnerships; provide pedagogically sound arts education experiences; prioritize student learning and achievement; and address national, state, and/or local arts education standards.

Maximum award: $20,000.

Eligibility: organizations that are full members in good standing of the National Guild of Community Schools of the Arts.

Non-member organizations should submit a membership application and first-year dues payments at least one week prior to submitting an application.

Must be located in certain cities—see application guidelines.

Deadline: May 17, 2012.

Institute of International Education: WISE Awards

The World Innovation Summit on Education (WISE) Awards are designed to identify, showcase, and promote innovative educational projects from around the world.

Under the theme Transforming Education, the 2012 WISE Awards will recognize six projects for their concrete, positive impact upon society.

Maximum award: $20,000 and access to international exposure.

Eligibility: WISE invites project holders in any sector and at any level of education to submit applications that demonstrate the quality and impact of their activities in accordance with the criteria stated in the regulations.

Deadline: May 31, 2012.

CVS/Caremark: Community Grants

CVS/Caremark Community Grants are currently accepting proposals for programs, targeting children under age 21 with disabilities, which address health and rehabilitation services or enabling physical movement and play.

Maximum award: $5,000.

Eligibility: non-profits located in states that also have CVS stores.

Deadline: October 31, 2012.

NAA: Young Publishers Program

The Newspaper Association of America Foundation Young Publishers program is designed to help high school students and advisers learn the skills required for success in newspaper publishing through the development of a business plan.

To accomplish this, students and advisers must interact with and be mentored by volunteers from the local newspaper as the business plan is crafted.

Maximum award: $2,500.

Eligibility: schools with a high proportion of minority students or located in and drawing its students from a rural area; must be able to demonstrate that its student newspaper is either struggling to exist or has ceased to exist.

Deadline: rolling; applications must be submitted at least five weeks before program is to begin.