Schools benefit from new California budget

Saturday, July 1, 2006

California Gov. Arnold Schwarzenegger signed a bipartisan state budget Friday that invests a record $55.1 billion in education – an increase of $3.1 billion this year and $8.3 billion over the last two years – and allocates $4.9 billion to create a budget reserve and to pay down the state’s debt early.

Schwarzenegger credited bipartisan cooperation in coming up with a budget he was willing to sign, and do it on time, a rarity in recent California politics.

“It’s amazing what can be accomplished when Democrats and Republicans work together in Sacramento,” said Schwarzenegger. “I want to thank the legislative leadership – Senators Don Perata and Dick Ackerman, Speaker Fabian Nunez and Assembly Republican Leader George Plescia – for all their hard work on the budget. We put politics aside and were driven by the overwhelming desire to do what’s best for the people of California.

“I am especially proud that the budget expands preschool, and returns art, music and physical education classes to our children,” he said.

State Superintendent of Public Instruction Jack O’Connell said he is pleased by the budget. “The budget passed by the Legislature brings welcome support to education in California, making good on past debts to our schools and investing in sorely needed classroom programs,” he said.

He had his own budget favorites: “I’m particularly pleased that the budget includes increased funding for school counselors, teacher professional development, programs targeted to helping students pass the high school exit exam, and expanded and improved student nutrition programs.

“While there are some priorities over which we may disagree, I applaud the Governor and the Legislature for a budget that makes education a top priority.”

Barbara E. Kerr, president of the 335,000-member California Teachers Association, also likes the direction of the new budget.“The timely approval of the new state budget is good news for our public schools and students,” she said. “School districts and teachers can now plan ahead. The nearly six percent cost-of-living-adjustment will allow local schools to restore funding to education programs that have been cut over the past few years and provide for salary increases.”

Still, Kerr, said, the budget doesn’t go far enough. “This budget is a down payment on the debt owed to our schools. Teachers will continue to work with the governor and the Legislature to ensure repayment of the $3 billion still owed to our schools under Proposition 98 and the lawsuit settlement agreement announced last month. That money will help our schools of greatest need reduce class sizes, improve teacher training and increase parental involvement.”

How the budget affects the New Haven Unified School District and James Logan High School, or the James Logan Courier, specifically is not yet clear.

State Treasurer Phil Angelides, who is running for governor against Schwarzenegger, liked the increased education funding, and praised his fellow Democrats in the legislature for that, but criticized the entire budget for being out of balance.

“On higher education, Democrats in the Legislature did the right thing, when the governor would not, and gained a $6 per unit rollback in community college fees,” he said in a statement. “That is a start. But the governor’s budget will still leave community college fees nearly double what they were just three years ago. And the budget will also leave untouched the fees at CSU and UC, which have increased by $2,000 and $5,000 respectively under Governor Schwarzenegger.”

Missing from the budget, Angelides said, is funding to expand health care for low-income children. Schwarzenegger “failed to get members of his own party to agree to a budget that funds health care for more kids from low-income families on the Healthy Families program regardless of the families’ immigration status. Compassion requires – and intelligent public health practice demands – that all people residing in California have access to adequate health care,” Angelides said.

Schwarzenegger credited a strong economy that increased state revenues for providing the cash to cover the increased expenditures and set aside a $2.1 billion reserve and an additional $2.8 billion for debt prepayment. Included in that is $1.42 billion for repaying borrowed funds earmarked by the voters for transportation projects aimed at reducing traffic throughout the state. The early debt payment and the reserve account for nearly 4.7 percent of the overall budget – the highest in 25 years.

Still, Angelides said, the budget is out of balance and the state is running up more debt. “Despite his repeated pledges to ‘cut up the credit card’ Governor Schwarzenegger has produced a budget that still leaves a $3.3 billion structural budget deficit for 2006-07 and more deficits for years to come,” Angelides said, “It is a budget thatwill continue to shift the burden of today’s deficits onto the backs of futuregenerations.”

The budget largely mirrors the May Revise, which has since prompted all three Wall Street credit rating agencies to upgrade the state credit rating, reducing the cost of state borrowing. One of the agencies, Fitch, Inc., cited “California’s continuing economic recovery, strong revenue performance and continued progress in reducing fiscal imbalance” when upgrading their rating on the state’s general obligation debt from A to A+ last month. Standard and Poor’s also raised its rating from A to A+ in May. Moody’s Investors Service raised its rating from A2 to A1 the same month.

Despite the improved credit ratings, Angelides said, the three rating agencies still have reservations about the state’s fiscal future. The agencies “have corroborated my warning and that of the Legislative Analyst that while state revenues have improved, California’s fiscal condition will remain insecure until the state produces balanced budgets,” he said.

Highlights of AB 1801, the Budget Act of 2006 by Assembly member John Laird (D-Santa Cruz), include:

Preschool through High School Education – The budget includes $100 million for the Governor’s targeted preschool initiative, which will make preschool available to every four year old living in a low-performing school district. $50 million of this funding will be used to build and improve preschool facilities. The budget also includes $645 million to fund physical education, arts and music programs. Overall, $11,264 will be spent on each student, an increase of $516 from the current year.

Higher Education – The budget allocates $19.1 billion from all sources for higher education and eliminates tuition and fee increases at UC and CSU. California, which already has the lowest community college fees in the nation, will further lower student fees from $26 per unit to $20, effective Spring 2007.

Law Enforcement – The budget includes an additional $196 million to support law enforcement efforts, including money to fund Sexual Assault Felony Enforcement teams, 500 GPS devices to track and monitor the highest-risk parolees and four new Gang Suppression Enforcement Teams. The budget also proposes the addition of 235 California Highway Patrol positions, includes $56.4 million to replace the CHP’s existing radio system and allocates $6.4 million to handle the increasing number of wireless 9-1-1 calls. Additionally, the budget includes a $20 million investment to strengthen efforts to fight methamphetamine trafficking and $6 million to create three new California Methamphetamine Strategy program teams.

Disaster Preparedness – The budget provides $220 million to enhance California’s ability to prepare for, mitigate and respond to emergencies, including money to strengthen public health response during a disaster. This includes preparations to prevent a pandemic influenza outbreak and expanding efforts to help local governments develop disaster preparedness plans.

Public Health – The budget includes $22.6 million for counties to perform outreach and enrollment activities to reach the 428,000 children who are eligible for Medi-Cal or the Healthy Families program but are not enrolled. The budget for the Healthy Families program also covers enrollment growth for 78,200 additional children.

Transportation – In addition, the Budget makes a substantial investment in improving California’s transportation system. It provides $1.4 billion to fully fund Proposition 42 for the second consecutive year, and it provides an additional $1.4 billion for the early repayment of past loans from Proposition 42, for a total of $2.8 billion. Of the $1.4 billion repayment, $440 million is designated for cities and counties for local road and street maintenance that would otherwise not be funded.

The budget is the first on time budget since 2000 and the fourth in the last 20 years. The 2006-07 budget’s general fund is $101.3 billion and total is $131.4 billion. For a more detailed overview of the budget, please visit www.dof.ca.gov.

Retrieved from “https://en.wikinews.org/w/index.php?title=Schools_benefit_from_new_California_budget&oldid=4628727”
Uncategorized

Indian banks propose to use gold deposits as CRR/SLR

Monday, June 30, 2014

State Bank of India (SBI) and Bank of Baroda (BoB), two of the largest public sector banks of India, proposed on Saturday their gold deposits should be allowed to count toward their state-mandated cash reserve ratio (CRR) or statutory liquidity ratio (SLR).

Arundhati Bhattacharya, the chairperson of SBI, made the proposal at a Gem & Jewellery Export Promotion Council event held in Mumbai on Saturday. She said the need for gold deposits to become more liquid has increased because gold import is putting a strain on the country’s current account deficit. S. S. Mundra, Chairperson and managing director of BoB, agreed and said it would help bringing gold into the more productive sectors of the economy.

Bhattacharya added SBI has no longer any incentive to run its gold deposit scheme as it cannot fully deploy the assets, noting SBI is the party most involved with gold deposits in India. G. S. Sandhu, Union financial services secretary, also at the event, responded that the government is looking for ways to monetize the gold held by the public, as import of gold can strain the current account deficit and foreign exchange reserves.

Currently, the Reserve Bank of India has set the CRR at 4% and the SLR at 22.5%. SLR is the portion of deposits that must be invested in recognized safe securities and assets.

Retrieved from “https://en.wikinews.org/w/index.php?title=Indian_banks_propose_to_use_gold_deposits_as_CRR/SLR&oldid=2742799”
Uncategorized

Purchase Order Financing The Best Available Option For Financing Your Big Orders

Purchase Order Financing The Best Available Option For Financing Your Big Orders

by

Jacob M Willis

Whether you have a small business or big company, funding or finance is the basic boost that would let you run your company smoothly without any issues and worries. If you are lucky to receive big orders from a company of good fame you need to pay attention to all possible areas to make it a big success. Here comes the assistance of the finance companies that make you enjoy some of the best opportunities for business growth.
What is Purchase Order Financing?
When you don t have a good rapport with bank and finance lending companies, PO financing will help secure your sale and the order deliveries. The best thing about a purchase order finance is it is a short term commercial finance option that will help you pay to the suppliers without putting any constraints on your home cash reserves.
The main criteria of the purchase order financing is it does not measure the financial capacity of your company like the banks. They look forward to the quality customers that your draw at your service and their financial ability. If you sell your products to a larger company with known brands you win the option of purchasing better funds. There are other similar varieties of financing options available in market like, Commercial Real Estate Loan. They help you to fulfill your dreams faster.
Purchase Order Financing – Mark yourself as a good candidate
The foremost criteria to qualify for purchasing finance is to make sure that you sell products rather than services. A reseller, a distributer, and a whole seller can always be a perfect candidate as they usually deal in buying the products and then shipping them to the desired clients. The companies that sell services along with products may get the benefit of purchase order finance only if there is a significant difference in the service and the product selling.
PO Financing Working Process And Benefits
The products that you intend to buy from the suppliers are bought by the finance companies in your name against a letter of credits issued by the finance company. This act is done it order to ensure a secured delivery of the products to the client. The supplier bears the copy of the letter of credit in return.
A few useful aspects of Purchase order financing can be described as follows:
  • PO finance is different from taking loan for fulfilling your orders.
  • PO finance companies pay to your suppliers up front for materials and help you avoid cash flow issues.
  • Purchase order financing allows your company to accept big orders even though you don t have enough cash to buy materials, pay employees and manage all related expenses.
  • PO financers collect payment from your clients and take away your burden.
  • It does not require your company to have excellent credit for getting PO funding.
How most of the purchase financing companies function?
  • Most of the companies try to lend 100% of finance however it might vary according to the rate.
  • Better is the finance you will get larger orders from the clients. So they try to make the approval process run faster.
  • Most of the companies will work according to the current financial condition of the company.
So before it is gets late and you lose your most cherished and important client get hold of a reliable purchasing order finance company that will help you with your business growth.
Jacob Willis has been familiar with a large variety of financing options including purchase order financing and commercial real estate loan. He has weighed them all and come out with his own set of recommendations for people.

Article Source:

ArticleRich.com

[youtube]http://www.youtube.com/watch?v=6unAYEkdbeU[/youtube]

New Internet addresses tested on World IPv6 Day

Wednesday, June 8, 2011

Online organisations around the world are today testing Internet Protocol Version 6 (IPv6) — a new system of Internet addresses hoped to resolve the issue of the present system being at capacity. World IPv6 Day is checking everything works as planned.

The current IPv4 standard was set up in the 1980s; it gives everything on the Internet a twelve-digit address and allows for 4.3 billion combinations. With these exhausted, IPv6 is designed to increase the limit 340 undecillion — that’s 340 trillion trillion trillion.

Major websites including services run by Google, Facebook, and Yahoo! are taking part in the test, switching their content to use the new system. Facebook predicts 99.97% of users to be unaffected and Google anticipates 99.5% will not encounter problems. The remainder may encounter slow page loading.

Fiji and Australia are among the first countries to have business-hours web traffic during the test. Internet Society of Australia President Tony Hill claims more than 100 global companies are involved.

Retrieved from “https://en.wikinews.org/w/index.php?title=New_Internet_addresses_tested_on_World_IPv6_Day&oldid=4511838”
Uncategorized

Minnesota to require 25% renewable energy production

Saturday, February 24, 2007

This article features in a News Brief from Audio Wikinews:

Governor Tim Pawlenty of Minnesota signed a bill into law on Thursday that requires the state to generate a significant amount of its energy needs from renewable sources.

The amount of power generated by wind turbines in the state stands now at 895 megawatts. An additional 5,000 megawatts of energy from renewable sources will need to be added to Minnesota’s electricity resources, which is roughly eight times more than the amount that currently comes from renewables.

The bill signed by the Governor requires energy companies to provide 25 percent of power from renewable sources by 2025.

Xcel Energy, which supplies approximately half of the electricity in the state, is required to provide 30 percent from renewable sources by 2020.

Retrieved from “https://en.wikinews.org/w/index.php?title=Minnesota_to_require_25%25_renewable_energy_production&oldid=1078877”
Uncategorized

Czech PM calls Obama’s rescue plan a ‘road to hell’

Wednesday, March 25, 2009

Mirek Topolanek, the Prime Minister of the Czech Republic and the head of the European Union, called United States President Barack Obama’s plan to spend almost US$2 trillion to revive the country’s faltering economy a “road to hell”.

“The US treasury secretary talks about permanent action and we at our [EU summit] were quite alarmed by that. He talks about an extensive US stimulus campaign. All of these steps are the road to hell,” ((translated from Czech))Czech language: ? he said, warning that the US’s massive bailouts could risk destabilising financial markets worldwide. He urged other EU governments to avoid making similar plans.

The remarks were made during Topolanek’s report to Members of the European Parliament in Strasbourg, France on Wednesday.

The comments are in sharp contrast to UK Prime Minister Gordon Brown‘s speech to the European Parliament on Tuesday, in which he spoke of a “new era” of cooperation in the ongoing global recession between the United States and Europe.

“Never in recent years have we had an American leadership so keen at all levels to cooperate with Europe on financial stability, climate change, security and development,” Brown said Tuesday.

Mirek Topolanek has become a lame duck prime minister after he was ousted in a vote of no confidence in his government in Prague late Tuesday.

Retrieved from “https://en.wikinews.org/w/index.php?title=Czech_PM_calls_Obama%27s_rescue_plan_a_%27road_to_hell%27&oldid=4593956”
Uncategorized

China Toys Market By Segments, Companies, Forecast By 2026

China is one of the biggest toy markets in the world. Its possible growth has generated a considerable opportunity for domestic & international toy manufacturers. A substantial rise in the popularity of interactive and multi-functional toys has been observed among children, positively impacting the toys market. Due to the increase in consumer spending, there is an increasing demand for toys. Besides expanding metropolitan residents’ income levels and rising living standards, a shift is being witnessed from conventional toys to innovative electronic toys. According to Renub Research, the China Toys Market was US$ 48.305 Billion in 2020.

There are wide varieties of toys available in China’s market. Dolls and Stuffed Toys showed extraordinary growth in value terms in 2019, primarily driven by the huge success and rapid rise of blind collectables. There has been an increase in demand for construction Sets & Models with schools closed during the lockdown. That was seen as an excellent way to entertain children for a more extended period.

The video game industry has developed a regular revenue model over the past few years due to the continuous emergence of video games. As technology advances, consumer spending on video content, virtual reality products, and video game tournaments have witnessed significant growth. As per this research study, the Toy market in China is expected to be US$ 61.275 Billion industry by 2026.

The main sales channels for toys include Online, Chain Stores, supermarkets & hypermarkets. Currently, speciality stores have been expanding and have a significant toy buying channel for parents & speciality toy chain stores represent the largest distribution channel as these stores have well-established networks and offer a wide range of products. In this COVID-19 lockdown, the online industry has shown good growth. Our research says that China Toy Market is expected to grow with a CAGR of 4.04% from 2020 to 2026.

Factors to Drive China Toy Industry

China abandoned its one-child-policy to allow families to have an additional child. During China’s 13th Five-year Plan period, a two-child policy was announced in October 2015. This policy targets 90 million women of reproductive age who already had at least one child. Due to this policy’s effect in the 18 months, there were 5.4 million additional births. Besides, China always had a healthy growth rate of its disposable income. For the first time in 2019, China’s per capita gross domestic product (GDP) has exceeded USD 10,000. So the future of the toy industry is bright in China.

China Toy Companies

Key companies are focusing on introducing new products in the market to serve the consumers’ interests. New product engagement is the most preferred strategy in the Chinese market. The key players were embarking on mergers and acquisitions as essential plans to achieve consolidation and optimize their offerings. Some of the keen players included in the market studied are Mattel Inc. & Hasbro Inc, Lego Inc, Vtech.

Renub Research latest report titled China Toys Market by Segments (Dolls & Stuffed Toys, Construction Sets & Models, Cards Games, Puzzles, Toys for Toddlers & Kids, Plastic & Others Toys, Video Games-Consoles), Sales Channel (Department Stores, Super / Hyper Market, Online, Baby Products / Toys Shop, Chain Stores), Company (Mattel Inc., Lego, Hasbro, Inc, Vtech) report provides in-depth analysis of China Toy Industry.

Request a Free Sample Copy of the Report:

Segments – Market breakup from 7 viewpoints

1. Dolls & Stuffed Toys2. Construction Sets & Models3. Cards Games 4. Puzzles5. Toys for Toddlers & Kids6. Plastic & Others Toys7. Video Games Consoles

Sales Channel – Market breakup from 5 viewpoints

1. Department Stores2. Super / Hyper Market3. Online4. Baby Products/Toys Shop5. Chain Stores

All company have been covered from 3 viewpoints

• Overviews• Recent Developments• Revenues

Company Analysis

1. Mattel Inc.2. Lego3. Hasbro, Inc4. Vtech

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building and Construction, & Agriculture. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

Our core team is comprised of experienced people holding graduate, postgraduate and PhD degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science and many more.

Contact Us:Renub ResearchPhone No: +1 678–302–0700 (USA) | +91–120–421–9822 (IND)Email: info@renub.comWeb: Follow on Linkedin:

Ancient prayer book found in Irish bog

Friday, July 28, 2006

An early medieval Christian Psalter (prayer book) was discovered in a bog in the Midland Region of Ireland on July 25, 2006, prompting some to term it the Irish version of the Dead Sea Scrolls.

The psalter was found by a worker excavating peat from the bog. The worker immediately covered the book with damp soil, as exposure to dry air after so many centuries of dampness might have destroyed it. He was praised by Dr. Patrick Wallace, director of the National Museum of Ireland, for doing that. The book was found open to the page of Psalm 83.

The Psalter is currently kept under refrigeration at the National Museum while researchers determine how to open the book without damaging the book’s pages and possibly destroying it.

Wikipedia has more about this subject:

Retrieved from “https://en.wikinews.org/w/index.php?title=Ancient_prayer_book_found_in_Irish_bog&oldid=566372”
Uncategorized

Gambling sites favor Cardinals Marc Ouellet, Peter Turkson, Francis Arinze as next Pope

Monday, February 11, 2013

With news of Pope Benedict XVI’s resignation only hours old, online gambling sites have already published odds for who will become the next leader of the Roman Catholic Church, with Cardinals Marc Ouellet and Peter Kodwo Appiah Turkson as early odds-on favorites.

Online Australian gambling site SportsBet has Canadian Cardinal Marc Ouellet as their favorite with 7/2 odds. The Irish Paddy Power brokers has 11/4 odds with the Canadian Cardinal being chosen as Pope. Bwin has Ouellet becoming the next Pope with odds at 7/2. British SportingBet also has odds for Ouellet at 7/2.

British Ladbrokes has Nigerian Cardinal Francis Arinze with 7/2 odds.

SkyBet has the betting odd for Ghanian Cardinal Peter Kodwo Appiah Turkson at 7/2, its best odds for any potential Papal candidate. BetVictor also has the best odds on Turkson with 5/2. Stan James has the best odds for Turkson at 3/1. You Win has odds for Turkson at 5/2.

Bets are also being taken by Paddy Power for the name of the next Pope, with Peter their odds-on favorite at 2/1. It is followed by Pious at 5/1, and John Paul and John at 6/1.

Retrieved from “https://en.wikinews.org/w/index.php?title=Gambling_sites_favor_Cardinals_Marc_Ouellet,_Peter_Turkson,_Francis_Arinze_as_next_Pope&oldid=4594939”
Uncategorized

Rail network in Kashmir comes under attack

Saturday, April 3, 2010

Nearly two feet of the rail route in Kashmir, India was blown up by militants near the Pulwama district, affecting train services from north to south Kashmir. The blast came a few days after militants fought with the Indian army in the area, thereby killing fourteen people.

“There were no casualties, as no trains were running when the militants set off a powerful bomb on the railway track,” said Aijaz Ahmad, a local police official. He added that train services have been temporarily suspended.

According to police, the attackers detonated an Improvised Explosive Device (IED) near Galbug at about 10 PM local time (4:30 PM UTC), Thursday night. Two feet of the rail track on the Qazigund-Baramulla area was damaged. This track was developed two years ago, police sources stated. The attack came just before senior officers were supposed to inspect ongoing works in the Kashmiri railways.

The track was repaired on Friday morning and train services resumed in the region. Kamal Saine, Deputy Inspector General of Police, south Kashmir, told the Press Trust of India agency that the damage to the track was not significant and it took a short time to mend it.

Retrieved from “https://en.wikinews.org/w/index.php?title=Rail_network_in_Kashmir_comes_under_attack&oldid=3422512”
Uncategorized