Wednesday, May 6, 2009

Daily Briefing, 5/6/2009

Good morning everyone! Here is today's Daily Briefing.

The Trexler Trust, one of the most prominent non-profits in the area, has seen a 6.3% decline in giving, as a result of the recession. Another bizzare result of the economy: criminals are having a harder time paying fines, forcing judges to be more lenient with their sentencing. WFMZ also runs a story on how seasonal jobs are getting harder to find. In local politics, Northampton County Executive John Stoffa and challenger Ann McHale, a Councilwoman, debated at a League of Women Voters forum yesterday.

In state-wide news, two polls have now shown that former Governor Ridge is within striking distance or beating Senator Arlen Specter (D). Whether or not Ridge will run for the Senate is being described as a coin toss. Meanwhile, the Democratic Senator might have gotten himself into some trouble with his new party yesterday after stating that he hoped Norm Coleman (R) prevailed over Al Franken (D) in the disputed Minnesota Senate race that is currently winding its way through the courts. Specter backed off of those comments later, with an apology.

In national news, some bad news for homeowners, as a study showed that 20% of homes are worth less than what their owners owe on the property. However, there is some very good news: the Chairman of the Federal Reserve, Ben Bernanke, told Congress that he believes that the worst of the recession is over and that the economy will begin to grow again by the end of the year. Meanwhile, Fortune runs a story on eight reasons why the economy may be starting to pick up again.

We have two Chamber events today: the annual Allentown Awards Dinner at The Palace and a mixer at Allegra Print & Imaging.

And that's it for today! Have a great day.

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