Good morning everyone! Here is today's Daily Briefing.
After a story by the Morning Call, the state will investigate the Bethlehem Area School District's use of "swap" bonding. The bonds ultimately cost the district millions. In Easton, the annual Heritage Day will be held on once again, albeit on a small scale than last year due to fundraising difficulties. Speaking of money troubles, WFMZ runs a story on how the recession is forcing people to put more in the bank, with savings rates the highest they have been since 1993. WFMZ also runs a story on the trouble facing Main Street programs throughout the state - these programs, like many others, are on the chopping block with Pennsylvania's budget crisis.
In national news, the President Obama met yesterday with Russian Prime Minister (and former President) Vladimir Putin. President Obama had spent the previous day with Russian President Medvedev and the two came to an agreement to cut their nuclear stockpiles by one-third. And, there's a minimum wage increase on the horizon - the minimum wage will go from $6.55 to $7.25 on July 24. And, though we certainly have our budget issues here, everyone in Pennsylvania should be thankful we aren't in California, where their budget crisis is so bad that the state is now barely hovering above junk bond status.
Business Matters aired last night, and the topic was the ongoing revitalization of downtown Allentown. You can catch the show online later today - you can also check out the Business Matters blog to join in the discussion and debate over the show's topic.
We have one Chamber event today - a training on Social Networking.
That's it! Have a great day.