Tuesday, November 25, 2008

Daily Briefing, 11/25/2008

Morning everyone! Here is your Chamber world.

In the local news, the Morning Call has a very interesting story about how the economic crisis is affecting Lehigh Valley Hospitals - thankfully, not much, at least yet. Nationally, however, hospitals are suffering, delaying maintenance and the purchase of new equipment. More good news, as Northampton County is considering a program that would encourage a meditation process for homes in danger of foreclosure. A disturbing trend: "In the first 10 months of 2008, lenders filed 960 foreclosure suits, compared to last year's 874, the former record and far higher than the mid-500s seen in more prosperous years." On the local tax front, Upper Mount Bethel (Northampton County) is holding steady on their taxes. I'm looking forward to doing a report at the end of the year that summarizes tax increases on a local level. It will be interesting to see where everyone stands.

Now for some not so good news: Lehigh Valley International Airport suffered a traffic decline of 15% compared to October 2007. The economic crisis has reached the skies. Meanwhile, the City of Reading will likely see an income or property tax increase.

In national news, President-elect Barack Obama yesterday named much of his economic team. The head of the New York Federal Reserve, Timothy Geithner, has been tapped as Treasury Secretary. Lawrence Summers, former President of Harvard, will head the National Economic Council. More picks are expected today. The U.S. Chamber of Commerce came out with a strong statement of support of the President-elect's picks thus far.

For two great stories on the Borough Business Revitalization Program in the news, make sure to check our Lehigh Valley Main Streets.

You can also check out yesterday's Business Matters on Education at the Business Matters website on WFMZ.

And we leave you today with this: Who the heck knew that Tony Iannelli could run so fast? Scroll down to Nov. 28 for the info, and make sure you give Tony a football next time you see him.

Have a great day!

1 comment:

Katie Bee said...

"Good news." Haha!

As long as Summers stays away from education, I'm fine with his position in the economic team.