June 2009

Microsoft application to track and manage personal energy use

June 27, 2009

Microsoft Corp. announced Microsoft Hohm, a new online application that enables consumers to better understand their energy usage, get recommendations and start saving money. Microsoft Hohm uses advanced analytics licensed from the Lawrence Berkeley National Laboratory and the U.S. Department of Energy to provide consumers with personalized energy-saving recommendations.

$3.9 billion federal grants availabile for smart grid technologies

June 27, 2009

As part of the American Recovery and Reinvestment Act (ARRA), Energy Secretary Steven Chu announced today that the Department of Energy (DoE) is soliciting applications for $3.9 billion in grants to support efforts to modernize the electric grid and allow for greater integration of renewable energy sources.

Mortgage Bankers Association lowers forecast of mortgage originations for 2009

June 24, 2009

The Mortgage Bankers Association (MBA) lowered its forecast of mortgage originations for 2009 to $2.03 trillion, a reduction of more than $700 billion from its earlier forecast in March. The bulk of the drop is due to reductions in refinancings, while it attributes $84 billion of the drop to lower purchase originations.

Advanced technology auto loans awarded to Ford, Nissan and Tesla

June 23, 2009

The Department of Energy (DoE) announced $8 billion in funding for the development of advanced vehicle technologies. The funding announced today will be awarded to automobile manufacturers Ford, Nissan and Tesla. The Administration expects this initiative to create thousands of green jobs while helping reduce the nation's dependence on foreign oil.

Plan to reduce cost of prescription drugs for Medicare recipients

June 22, 2009

President Barack Obama announced plans to cut the prescription drug expenses of those who fall into the Medicare Part D coverage gap, commonly known as the 'doughnut hole'. As part of the plan, the prescription drugs would cost 50 percent of what it cost Medicare recipients currently.

SBA loans for small businesses with immediate financial hardship

June 22, 2009

The Small Business Administration (SBA) announced a temporary new program called America’s Recovery Capital (ARC), with loans of up to $35,000, which are designed to provide a bridge for viable small businesses with immediate financial hardship – to keep their doors open until they get back on track.

BRIC leaders call for an increased role in global financial institutions

June 18, 2009

Brazil, Russia, India and China ended the first BRIC summit by calling for cooperation, an increased role in global financial institutions, and a multi-polar world order.

$15,000 first time home buyer tax credit proposed

June 17, 2009

Introduced by Rep. Ken Calvert (R-CA), the Homebuyer Tax Credit Act of 2009 would replace the current tax credit for first time home buyers with a one-time credit for 10% of the purchase price of a principal residence, up to $15,000. However, if the buyers fails to occupy the home or sells the home within 24 months after the purchase, the buyer is required repay the credit to the government.

Ohio to get more than $1 billion in federal money to save teaching jobs

June 14, 2009

U. S. Secretary of Education Arne Duncan announced that more than $1 billion is now available for Ohio under the American Recovery and Reinvestment Act (ARRA) of 2009. The Department of Education hopes that this funding will lay the foundation for a generation of education reform and help save hundreds of thousands of teaching jobs at risk of state and local budget cuts.

Walmart to create more than 22,000 jobs in 2009

June 04, 2009

WalMart announced today that it plans to create more than 22,000 jobs to staff new or expanded stores in the United States this year. The company is hiring for a number of positions including store management, pharmacists, human resource managers, customer service associates, cashiers and sales associates among others.