Tuesday, August 4, 2009

Daily Briefing, 8/4/2009

Good morning everyone! We are back from our conference, totally re-energized and ready to blog again. Here is today's Daily Briefing.

In the continuing saga of the Saucon Valley School District, teachers have been given an August 14 deadline to accept or reject the "final" contract offer from the school board.


In state-wide news, it comes as no surprise but will finally be official: Joe Sestak will be announcing his primary challenge to Arlen Specter. Meanwhile, in the ongoing budget saga, Governor Rendell appears set to sign a "place-holder" once in is approved by the House of Representatives. The bill will fund basic state and vendor operations but little else as negotiations continue for a permanent budget.

In national news, advocates for the popular "Cash for Clunkers" program were trying to get additional support in the Senate. An estimated $2 in additional funding was needed to keep the program going through Friday. Locally, the program's positive effects are being felt by the region's auto dealers. There has also been quite a bit of talk on how the economy is hurting state and local governments, but not much talk about the tip in federal revenue. Well, we now have some statistics there - tax revenues are expected to drop 18% this year, the largest one-year drop since the Great Depression. Meanwhile, the Senate will begin debate on the confirmation of Judge Sonya Sotomayer today, with a likely confirmation vote expected by the end of the week.

Business Matters aired yesterday, featuring a one-on-one with author Harry S Dent, an economist who who predicting a depression. The show will be available online at our website later today. If you are interested in the topic, head over to the Business Matters blog and join in on the debate.

And that's it! Talk to you soon.

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