“Obama's small business plans: Where they stand - CNN Money” plus 3 more |
- Obama's small business plans: Where they stand - CNN Money
- A wider umbrella for South Jersey business - NJBIZ
- Services Thinking Extends Services Oriented Architecture Towards ... - Big Hollywood
- Cyber-Ark Software Webinar: "Governed File Transfer That Drives Your ... - Forbes
| Obama's small business plans: Where they stand - CNN Money Posted: 08 Feb 2010 07:18 AM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it. NEW YORK (CNNMoney.com) -- President Obama has been talking -- a lot -- about what Washington needs to do to help save small businesses. Over the past week, he's introduced a half-dozen different initiatives aimed at unlocking credit, creating jobs and expanding the Small Business Administration's loan programs. But most of Obama's proposals remain just that -- proposals. For them to go any further, Congress needs to get on board and pass legislation. "If there are additional ideas from either party, I'm happy to consider them," Obama said Friday from Lanham, Md., where he traveled to visit a small mechanical services firm. "But what I hope -- what I strongly urge -- is that we work quickly and we work together to get this done. America's small businesses are counting on us." Here's a rundown of where the president's proposals currently stand. Jobs: Obama traveled to Baltimore last week to announce a $33 billion program of tax incentives to encourage hiring and wage growth. The president proposed a $5,000 per-worker tax credit for new hires this year, and suggested reimbursing businesses for the Social Security taxes that they pay on inflation-adjusted increases in their payrolls in 2010. While companies of any size would be eligible for the credits, the cap on them would be $500,000 per company, a move aimed at steering the biggest benefit to small companies. Business owners had mixed reactions to the proposal. Some say the credits would make hiring easier and help strengthen their companies, while others say the downtown has left their business so ravaged that they're in no position to bring on new workers. The Senate plans to take up Obama's proposals next week. Expect lots of wrangling before any legislation moves forward. Republicans are concerned about the cost of tax credits, and even the president's own party has differences to hash out. "We do not have a jobs bill," Senate Majority Leader Harry Reid, D-Nev., said on Tuesday. "We have a jobs agenda that we're working on." Cheap funds for community lenders: At a town hall meeting on Tuesday in Nashua, N.H., the President proposed recycling $30 billion of the remaining Troubled Asset Relief Program (TARP) funds into a new government lending program offering ultra-cheap capital to community banks. The new Small Business Lending Fund would be available for banks with assets of under $10 billion. Those banks collectively account for more than half of the nation's small business lending, according to White House estimates. Banks could draw on the fund with interest rates as cheap as 1%, if they show substantial increases in their small business lending this year compared to 2009. That proposal also requires congressional action, and has already met with opposition. Sen. Judd Gregg, the senior Republican on the Senate Budget Committee, blasted the administration for trying to turn TARP into a "piggy bank." Separately, Treasury Secretary Timothy Geithner on Wednesday announced final terms for a new program to make TARP capital available to community development financial institutions (CDFIs) at a 2% dividend rate, well below the standard 5% rate the Treasury usually charges. CDFIs are lenders that focus on economically underserved communities. That program does not require any further approvals, and will soon take effect. Expanding SBA lending: Small business loans are risky, especially in a recession. Default rates are up, and regulators are cracking down on banks when they make too many loans that turn bad. In response, banks have shied away from small business loans. The SBA's programs reduce some of that risk by guaranteeing a portion of qualifying loans. If the business defaults, the government reimburses the bank for its loss. With other lending avenues drying up, the SBA programs are playing a bigger role in the small business credit landscape. Obama and other administration officials are pushing to relax some of the SBA's lending limits and make the loans more widely available. On Thursday, Representatives Kathy Dahlkemper and Melissa Bean, both Democrats, introduced legislation to temporarily increase the maximum loan available through the SBA's "Express" program from $350,000 to $1 million. They also proposed raising the government-guaranteed portion of the loan from 50% to 75%. President Obama took up that cause on Friday, asking Congress to increase SBA Express loan caps to $1 million. But -- in an illustration of just how contentious the details of these debates get -- Obama didn't back the Dahlkemper-Bean proposal to raise the loans' guarantee. In a call with reporters following Obama's speech, SBA Administrator Karen Mills said the administration's plan is for the 50% guarantee to remain as-is. Congress will need to act next, but the trench warfare has already started. The House Small Business Committee chairwoman, Nydia Velázquez, blasted the plan soon after Obama touted it. "SBA Express has acted as nothing more than a giveaway to big banks and expanding it will neither further economic recovery, nor create new jobs," Velázquez said in a written statement. Obama has also asked on Congress to increase the caps on the SBA's flagship loan program, raising the per-loan maximum from $2 million to $5 million. The president first made that proposal in October, but Congress hasn't yet reached agreement on it. Make government loans cheaper: The Recovery Act, passed nearly a year ago, raised the government guarantee on the SBA's two primary loan programs, 7(a) and 504 loans, to as much as 90%. The stimulus bill passed also temporarily eliminated the fees associated with government-backed loans. The measures proved successful: SBA lending rebounded from last year's lows. But the money for the fee reductions ran out just before Thanksgiving. Congress granted the program another $125 million, which is keeping the program funded for now but will run out in the next month. Obama has asked Congress to extend the subsidies through Sept. 30. Real estate fix: The SBA's 504 loan guarantee program helps small businesses buy capital assets like equipment and real estate. Most commercial real estate loans involve a big balloon payment some years into the loan, when the debt matures. Owners often refinance when those payments come due -- but right now, when many buildings have plunged in value, refinancing is a major challenge. Currently, borrowers can't use SBA 504 loans to refinancing existing debt. Obama proposed temporarily expanding the program to allow it to back refinancing for businesses with commercial loans maturing in the next year who are current on all their debt payments. The proposal wouldn't cost taxpayers anything. The SBA says it can be funded through fees for borrowers and lenders. But Congress will still need to approve any changes to how the 504 program works. Other adjustments: A flurry of other Obama initiatives also target small businesses, including extending tax breaks for equipment purchases, increasing financing for exporters, and temporarily eliminating the capital gains taxes investors pay on qualifying small-business investments. All of those proposals require congressional action. In his Saturday radio address, which focused on his small-business agenda, President Obama said he expects lawmakers to take up the debate next week. "Leaders in both parties have supported similar ideas in the past. So let's come together and pass these measures without delay," he said. "Let's put more Americans back to work, and let's give our small business owners the support to do what they've always done: the freedom to pursue their dreams and build our country's future." Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| A wider umbrella for South Jersey business - NJBIZ Posted: 08 Feb 2010 07:40 AM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it. South Jersey businesses seeking a larger network of business contacts are hoping a regional chamber of commerce, based in Cherry Hill, will help them locate resources to improve their operations. The Camden County Regional Chamber of Commerce — the rechristened Cherry Hill Regional Chamber of Commerce — has incorporated smaller business associations in municipalities like Gloucester Township, Winslow Township and Mount Laurel since its inception in January. "The change was made to acknowledge the growing geographic market of the [Cherry Hill] chamber, as we have added local chambers" over the past eight years, said Arthur C. Campbell, president and chief executive of the Camden County chamber. Campbell said with more than half the former Cherry Hill chamber's roughly 800 members based outside the township, "It is important to identify our organization with the entire county … without diminishing the importance of Cherry Hill Township as the 'business hub'" of the region. The chamber hosts about 120 events each year. Douglas Rowe, co-chair of the Gloucester Township Chamber, said his organization's 85 members now have "more people to do business with," and that the change "expands the horizons" for potential businesses to join the chamber. His chamber's members are mostly small to midsized businesses, but they also include larger entities like Beneficial Savings Bank, where he is an assistant vice president, and TD Bank. Rowe said he feels a bigger entity would also find it easier to attract new members. "If we say it's a Camden County chamber, people would be more interested in joining the chamber," he said. At the same time, the smaller chambers get to retain their identity, ensuring that "it still gives us a local feel," he said. Michael Diemer, chairman of the Camden Chamber of Commerce, said his members now feel "a stronger sense of belonging," under the umbrella of the Camden County chamber. That was not the case as a standalone association, because "in New Jersey, we are very provincial; we stick to our own town," he said. Diemer said the city needs more development projects like those at Cooper University Hospital and Rutgers University's Camden expansion — and businesses have the required appetite. "Camden really needs some sort of industrial park," he said. "We have businesses that need to expand, and they leave the city." Locals such as CTB Systems, an information technology consulting firm in Cherry Hill, will benefit from the new chamber, said David P. Mickelson, a partner at the firm, which is a member of the county chamber. "It has the feel of a bigger organization, and a bigger footprint," he added. The changed name and face of the Camden County chamber is aimed at doubling membership in the next couple of years, said Diemer, who also is executive director of Cooperative Business Assistance Corp., a nonprofit that makes microloans through banks and the Small Business Administration. The chamber's membership rates start at $325 annually for a business with five or fewer employees. This year it has introduced an associate membership for $200 a year, with which businesses get a listing in the chamber's online regional business directory, including a Google map and an online business card, he said. E-mail to shankar_p@njbiz.com Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Services Thinking Extends Services Oriented Architecture Towards ... - Big Hollywood Posted: 08 Feb 2010 08:23 AM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it.
NEW YORK, Feb. 8 /PRNewswire/ -- What: "SOA What? Services Thinking Goes to Work." Who: Mark White, principal, Deloitte Consulting LLP Doug Shoupp, principal, Deloitte Consulting LLP Bill Briggs, director, Deloitte Consulting LLP When: Available immediately Where: www.deloitte.com/us/soawhat Details: Conventional wisdom says don't lock into a plan until you have to. Sound advice -- especially for business-enabling technology. It also explains how Services Oriented Architecture (SOA) started in the first place. "SOA was a reaction to business' demand for their technology environments to respond and integrate faster, as well as be more flexible in meeting business requirements and market demands," said Shoupp. "However, SOA lacked the ability to address and link to business optimization. Today, business design and optimization is being driven using the same principles for improving technology flexibility and integration. Shoupp adds, "This is triggering a shift away from traditional process reengineering towards services design, service modularity and service granularity linked directly with technology and organizational delivery components. Chunks instead of streams, with clear and solid hand-offs that deliver the control and flexibility that business needs today. This is what we call 'Services Thinking'." Briggs noted from the paper, "SOA What? Services Thinking Goes to Work," that Services Thinking, however, runs the risk of being dismissed as a technology or "plumbing" concept -- largely because SOA has become synonymous with Services Oriented Software Architecture. "Services Thinking is a business strategy with an emphasis on technology -not the other way around," said Briggs. "By thinking in terms of services, business capabilities demanding differentiation or high agility can be carved out and given the attention they deserve. And, companies can look at the technology supporting their business functions and make sourcing decisions at a very granular level -- piecing together the best parts of packages, custom, niche, and cloud offerings to meet their needs." Shoupp and Briggs cited two results companies may see by shifting to Services Thinking: -- As business capabilities are defined and executed via Services Thinking, they are delivered with an eye towards re-use and agility -- asking "how do we anticipate change" along with standard requirements and to-be design. Organizations gain the ability to respond to the demands of the marketplace, as well as recompose and re-orchestrate business services and related information technology services into more efficient or even new business offerings. -- As adoption of Services Thinking may grow, interaction between business and IT shifts towards a common language -- with an approach that leads with what "should be done," not what "can be done." IT plays an advisory role in innovation and planning, and the business is engaged throughout the technical lifecycle -- a definite step towards the elusive goal of aligning IT as a business partner. To download a copy of the paper, please go to: www.deloitte.com/us/soawhat. To speak with Shoupp and Briggs about Services Thinking and related issues, please contact John La Place at jlaplace@deloitte.com, or +1 212-492-4267. About Deloitte As used in this document, "Deloitte" means Deloitte Consulting LLP and Deloitte Services LP, separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. SOURCE Deloitte Consulting LLP
Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Cyber-Ark Software Webinar: "Governed File Transfer That Drives Your ... - Forbes Posted: 08 Feb 2010 08:01 AM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it. BusinessWire - Cyber-Ark(R) Software, the leading global software provider for protecting critical applications, identities and information, today announced that it will host the webinar, "Governed File Transfer That Drives Your Business," on February 10 from 2:00 -- 3:00 p.m. ET. Featuring Inter-Business Vault(R) customer Glatfelter Insurance Group, the webinar will focus on how organizations, particularly those in highly regulated industries such as insurance, financial services and healthcare, can achieve greater security, manageability and governance over data transfers between business partners, service providers and customers. Who: - Michael Shrader, network security specialist, Glatfelter Insurance Group - Barak Feldman, senior systems engineer, Cyber-Ark Software What: Cyber-Ark's "Governed File Transfer That Drives Your Business" webinar will address specific challenges, including mitigating the business risk of sensitive data loss or exposure, lowering operational costs and minimizing IT overhead, managing ease-of-integration with existing enterprise infrastructure and legacy systems, increasing productivity of business users, and complying with regulations such as PCI, SOX, HIPAA and Basel II. When: February 10, 2010 at 2:00 p.m. ET Where: Register to attend at: https://www.clicktoattend.com/invitation.aspx?code=144460 Article ControlsAbout Inter-Business Vault Cyber-Ark's Inter-Business Vault(R) v5.5 is part of its Governed File Transfer Suite, which delivers the combined benefits of governed and managed file transfer capabilities in one centralized, highly secure platform. About Cyber-Ark Cyber-Ark(R) Software is a global information security company that specializes in protecting and managing privileged users, applications and highly-sensitive information to improve compliance, productivity and protect organizations against insider threats. With its award-winning Privileged Identity Management (PIM) and Highly-Sensitive Information Management software, organizations can more effectively manage and govern application access while demonstrating returns on security investments. Cyber-Ark works with 600 global customers, including more than 35 percent of the Fortune 50. Headquartered in Newton, Mass., Cyber-Ark has offices and authorized partners in North America, Europe and Asia Pacific. For more information, visit www.cyber-ark.com. SOURCE: Cyber-Ark Software, Inc. fama PR Sandy Dawkins, +1 617-758-4271 cyber-ark@famapr.com or Cyber-Ark Software, Inc. Norah Goldman, +1 617-965-1544 norah.goldman@cyber-ark.com Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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