| UPDATE: Bush Dismisses Gasoline Tax Hike, Homeowner Bailout
WASHINGTON -(Dow Jones)- U.S. President George W. Bush dismissed the idea of a hike in the federal gasoline tax, ruled out a direct government bailout of struggling homeowners and said talks on cutting corporate taxes are still in the early stages. As worries over the subprime mortgages and the availability of credit continue to roil financial markets, Bush was quizzed on a host of economic topics during a 45-minute press conference Thursday. Typically, Iraq and the war on terror dominate Bush's media briefings, so the White House is looking to shift attention to the economic growth it believes is often overlooked. But with markets on edge, reporters pressed Bush on the housing market, proposals to boost taxes on hedge funds, and the idea that a repair of that nation's bridges should be funded by a five-cent per gallon hike in the tax on gasoline.
"Cyber Fight" in CMS
Jay Morrison says he will no longer work to get the transit tax repealed and he will not run for school board. This comes after he was accused in federal court of an extortion scheme. A federal judge says the vocal critic of government spending.. filed frivolous 17 lawsuits-- then tried to negotiate a settlement. Morrison tells our Steve Crump that the legal proceedings were an honest way to repair his credit. "The Charlotte Observer and the light rail tax are trying to change the subject," he said. Just this week, Morrison asked for Mayor Pat McCrory and other city officials to make public every single email regarding light rail. But as WBTV's Steve Crump reports, emails Morrison wrote could get him into even more trouble.
Gerson says withholding park funds is an option
The Washington Square Park Task Force on Aug. 3 sent Councilmember Alan Gerson and Council Speaker Christine Quinn a report that could be a last-ditch attempt to convince the Department of Parks to alter plans for the redesign of Washington Square Park.
The report, drafted after a Parks Department presentation on July 26 of the first-phase work on the parks northwest quadrant, urged that the entire park project, including the renovation of the public bathrooms, comply with the Americans With Disabilities Act and be wheelchair accessible.
The report also suggests a reduction of the height of the proposed fence around the park, an increase in the size of the central plaza fountain and the width of some paths in the park. The report was also concerned that large, healthy trees would be removed during the park reconstruction.
Blunt calls special session to pass bridge repair
The Missouri General Assembly will hold a special session Aug. 20 to "fast track" the Safe and Sound Bridge Improvement Program to repair or replace more than 800 Missouri bridges, Missouri Gov. Matt Blunt said Friday. In September 2006, the Missouri Department of Transportation (MoDOT) announced the Safe & Sound Bridge Improvement Plan, a $400 million to $600 million initiative to repair or replace most of the state's worst bridges by 2012. .
Wegmans to Receive COMIDA Funding
Wegmans Food Markets has tax breaks on the way to build a new test kitchen. Monroe County's Industrial Development Agency approved incentives for Wegmans to build the $22 million, 43,000 square-foot Culinary Innovation Center on Fisher Road in Chili. Wegmans plans to use the facility to develop and produce new food products. It will also move its production of soups, sauces, and marinade to the new location, from Brooks Avenue. Wegmans management said the project impacts 69 jobs, and is expected to create 24 jobs over the next five years. The company also considered a location in Pennsylvania for the new center. ll yc Wegmans
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Courier News Online - Ford surprises Wall Street with 1st profit in 2 years
DEARBORN, Mich. (AP) - Job cuts, slimmer losses in North America and good sales overseas helped Ford Motor Co. post surprise second-quarter earnings Thursday of $750 million, its first profitable quarter in two years. The company also said the sale of its Jaguar and Land Rover subsidiaries was probable, and it said its U.S. market share rose during the quarter.
Still, President and Chief Executive Alan Mulally said investors should not think that Ford has turned the corner to consistent profitability.
"These accomplishments are something to be proud of, but we are not ready to declare victory," he said, predicting substantial losses in the third and fourth quarters, when sales volume is traditionally lower. The company does not expect a return to full-year profitability until 2009.
Goldcorp Reports Second Quarter Earnings
(All figures are in US dollars unless stated otherwise) Goldcorp Inc. (Toronto:G.TO - News)(NYSE:GG - News) today reported adjusted net earnings of $95.3 million(1), or $0.14 per share, for the quarter ended June 30, 2007. This compares to adjusted net earnings of $136.9 million, or $0.36 per share, in the second quarter of 2006. Second quarter 2007 adjusted earnings exclude the effect of a $104.4 million non-cash loss on the revaluation of future income tax liabilities due to the strengthening Canadian dollar. Excluding all adjustments, the Company reported net earnings of $2.9 million compared to $190.4 million. .
Police Briefs for 8/10/07
SAYREVILLE: The Route 35 drawbridge became stuck in the raised position around 4:15 p.m. Thursday when a small electrical fire broke out in the downstairs area where the motors are located, authorities said.
Authorities were able to lower the bridge manually by 5:20 p.m. Traffic remained backed up into rush hour, but cars were being allowed to begin passing over the bridge once it was lowered, police said. Authorities planned to repair the electrical damage and the bridge motor Thursday night. Staff report $6G fountain stolen from YMCA pool WOODBRIDGE: A large plastic turtle fountain was removed from the YMCA kiddie pool on Port Reading Avenue sometime between 8 p.m. Tuesday and 7 a.m. Wednesday, police said. The thief or thieves apparently scaled the 6-foot-high chain-link fence surrounding the pool facility and targeted the turtle character pool fountain.
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