Want the scoop?
According to the Arkansas Democrat Gazette this morning If you want to get a preview of what is going to happen in the US Senate then perhaps you should schedule lunch at the Doubletree Hotel on Markham Street in the downtown Little Rock today.
Senior Senator Mark Pryor will be the guest speaker at the Little Rock Rotary Club.
Bait and Switch?
My parents told me time after time “if it sounds too good to be true it probably is”. Have you been following the story on the Arkansas Lottery Scholarships? Apparently those making the decisions (and the huge salaries) with NO accountability to their employer (the tax payer) set aside on 22% of the HUGE profits they are making on the backs of the poorest in our state.
Paychecks, advertising, overhead expenses, and prizes seem to be soaking up what was touted to be best lottery in that nation to pave the way for all our children to go to college, sound familiar?
Jerry Cox, president of the Family Council has a wonderful statement about the situation here. http://familycouncil.org/?p=1757
Arkansas In the Energy Game
Do you know all that is packed in the “new Bush tax cut bill”?
Seems there is a tax credit for biodiesel production. Senator Pryor is in favor of the credits.
According to the story in the Arkansas Democrat Gazette it is not an open and shut case. In their article a fellow at the Cato Institute and a professor at Cornell University think biofuel subsidies are “indefensible and parochial market distortions.”
My question is who stands to gain? Companies that blend corn into gas get a .45 cent per gallon credit, in 2009 these companies kept $5.2 BILLION yes with a B, instead of paying them in taxes. In that same year soybean and animal fat blenders had tax credits of $840 million.
What is actually ironic about this is those homeowners who decide to “go green” in their personal homes are eligible for a credit for installing energy efficient stuff….lol ummm 10 percent with a limit of $500! LOL… $500??? Really?… I have no words…
There is more… I encourage Arkansans to get the skinny on this because it seems to me that once again the tax payer will be the one footing the bill for huge corporations to take record profits, lining the pockets of our illustrious leaders… I could be wrong…
Bank take heavy losses in Arkansas and Florida
Roby Brock at Talk Business reported yesterday: “
Home BancShares, Inc., parent company of Centennial Bank, which has been on a Florida acquisition spree in 2010, said it would record a $60-$65 million charge against its loan loss reserves to right several financial matters, including a potential $53 million write-off of "impaired loans" in Arkansas and Florida.”
The higher-ups don’t seem to think this will be a huge problem, their Chairman, John Allison was quoted in the story as saying “Because of our conservative nature, we have maintained strong capital and reserves for tough economic times such as these. The strength of our balance sheet affords us the ability to take these charge-offs and provisions without the need of any additional capital."
"We have always been extremely well capitalized. Even after these charge-offs and provisions, we will continue to have capital levels significantly above the capital requirement of our regulators."
Maybe Mr. Allison should run for office to help the state of Arkansas get our fiscal house in order.
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