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Tuesday, June 17, 2014
God's Gonna Cut You Down - Various
(Wikipedia) - "God's Gonna Cut You Down", also known as "Run On" and "Run On for a Long Time", is a traditional folk song which has been recorded by numerous artists representing a variety of genres. The lyrics are a warning to sinners that no matter how hard they try, they will not avoid God's judgment.
God's Gonna Cut You Down - Johnny Cash
You can run on for a long time
Run on for a long time
Run on for a long time
Sooner or later God'll cut you down
Sooner or later God'll cut you down
Go tell that long tongue liar
Go and tell that midnight rider
Tell the rambler, the gambler, the back biter
Tell 'em that God's gonna cut 'em down
Tell 'em that God's gonna cut 'em down
Well my goodness gracious let me tell you the news
My head's been wet with the midnight dew
I've been down on bended knee talkin' to the man from Galilee
He spoke to me in the voice so sweet
I thought I heard the shuffle of the angel's feet
He called my name and my heart stood still
When he said, "John go do My will!"
Go tell that long tongue liar
Go and tell that midnight rider
Tell the rambler, the gambler, the back biter
Tell 'em that God's gonna cut 'em down
Tell 'em that God's gonna cut 'em down
You can run on for a long time
Run on for a long time
Run on for a long time
Sooner or later God'll cut you down
Sooner or later God'll cut you down
Well you may throw your rock and hide your hand
Workin' in the dark against your fellow man
But as sure as God made black and white
What's done in the dark will be brought to the light
You can run on for a long time
Run on for a long time
Run on for a long time
Sooner or later God'll cut you down
Sooner or later God'll cut you down
Go tell that long tongue liar
Go and tell that midnight rider
Tell the rambler, the gambler, the back biter
Tell 'em that God's gonna cut you down
Tell 'em that God's gonna cut you down
Tell 'em that God's gonna cut you down
Monday, June 16, 2014
Economic Stories of Relevance in Today's World -- June 15, 2014
Good Riddance To Rep. Eric Cantor: Bagman For Wall Street And The War Party - Zero Hedge - Tyler Durden - June 13, 2014 - Its possible to describe Rep.Eric Cantor as a serial sell-out. But that would be giving an unprincipled politician driven by an unalloyed ambition to climb the greasy pole of Washington power too much credit. In truth, Cantor never campaigned for any recognizable principle; he merely maneuvered his way to the top of the House GOP hierarchy by following in the tawdry footsteps of modern GOP bagmen like Tom DeLay and Roy Blunt. One commentator had Cantor pegged right on the money, as it were, years ago. One the heels of the 2010 GOP landslide, it was evident that Cantor’s true ambition was to accumulate a massive war chest to further his own ambitions, not to seize on the tea party momentum to fundamentally reverse the tide of Big Government:
The Generational Short: Banks, Wall Street, Housing and Luxury Retail Are Doomed - June 14, 2014 If Gen-Y cannot afford to buy Boomers’ houses at bubble-level prices, then what will keep housing prices at these elevated levels? Mish recently posted excerpts of a Brookings Institution study on changing generational values: How Millennials Could Upend Wall Street and Corporate America. The gist of the report is that Gen-Y (Millennials) view money, prestige, adversarial confrontation and managerial methods differently from the Baby Boom and Gen-X generations, and that this set of values will change Corporate America, the economy and the culture as Boomers exit managerial positions and their peak earning/spending years. Though we have to be careful in characterizing tens of millions of individuals as all reflecting one set of generational values, the basic idea is simply one of context:people who grow up in a specific milieu are naturally prone to sharing broadly similar perceptions and values. The Brookings authors claim that Millennials do not favor the adversarial style of the Boomers (competition and confrontation as means of advancing one’s cause/position) nor do they place great value on luxury goods as evidence of exclusivity. They actively distrust/loathe the banking sector and are financially conservative, preferring cash to investing in Wall Street. Asked to choose their ideal (corporate/state) job, their choices reflect preferences for a mix of security, idealism and technology. The big flaw in this career questionnaire (as far as I can discern) is that it did not offer the alternatives of self-employment/ entrepreneurship. Anecdotally, it seems clear that there is a strong entrepreneurial drive in Gen-Y–for example, What I’ve learned in my first year as a college dropout. One factor the report did not address fully is real estate/housing, which depends on bank-issued debt (mortgages) and the belief that a lifetime of paying a mortgage will magically result in financial security, based on the greater fool notion that someone in the future will be willing to pay more for an asset that hasn’t changed either qualitatively or quantitatively (other than needing more maintenance as it ages). This raises two issues: if Gen-Y cannot afford to buy Boomers’ houses at bubble-level prices, then what will keep housing prices at these elevated levels? Answer: nothing.Without strong demand for housing at sky-high prices, valuations will drop to whatever level demand can support. That level can be far lower than conventional housing analysts believe possible because they are still extrapolating Baby Boomer preferences and earnings into a future which will be quite different from the housing bubble decades. The second issue is a question: how much of the Boomers’ housing wealth will trickle down to Gen-Y when they actually need housing, i.e. when they’re starting families? The answer may well be: very little. If Gen-Y is unwilling or unable to take on enormous mortgages to buy bubble-priced housing, we can project a housing market in which Boomers are unloading millions of primary homes as they seek to downsize/raise cash for retirement but there aren’t enough Gen-Y buyers willing or able to buy these millions of homes at bubble valuations. In this scenario, home prices must decline to align with Gen-Y’s salaries (i.e. their ability to qualify for huge mortgages) and their willingness to shoulder bank-based debt.
Millennials 'overwhelmed' by debt - CNN Money - Blake Ellis - June 11, 2014 - Four in 10 millennials say they are "overwhelmed" by their debt -- nearly double the number of baby boomers who feel that way, according to a Wells Fargo survey of more than 1,600 millennials between 22 and 33 years old, and 1,500 baby boomers between 49 and 59 years old. To try to get out from underneath it, 47% said they spend at least half of their monthly paychecks on paying off their debts. On average, respondents put the biggest chunk of their income toward paying credit card bills, followed by mortgage debt, student loan debt, auto debt and medical debt. But even as they struggle financially -- with more than half living paycheck to paycheck -- many are making sure to at least tuck a little money away for savings. More than half of respondents said they are currently saving for retirement. Of that group, 46% are saving between 1% and 5% of their income. Another 31% are saving between 6% and 10%, while 18% are saving more than 10%. "The silver lining of the recession that started over five years ago is that a majority of millennials get that saving is a necessity and even equate it with 'surviving' tough times," said Karen Wimbish, director of Retail Retirement at Wells Fargo.
19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape - The economic Collapse Blog - Michael Snyder - June 10, 2014 - Have you heard the one about the “economic recovery” in the United States? It’s quite funny, but it is not actually true. Every day, the establishment media points to the fact that global stock markets have soared to unprecedented heights as evidence that the economy is improving. But just because a bunch of wealthy people have gotten temporarily even richer on paper does not mean that the real economy is in good shape. In fact, as you will see below, things just continue to get even tougher for the poor and the middle class. Retail stores are closing at the fastest pace since the fall of Lehman Brothers, the rate of homeownership in this country is the lowest that it has been in 19 years, one out of every five families do not have a single member that is employed, and one out of every five children is living in poverty. We are working harder, earning less and going into more debt. With each passing day, the middle class gets a little bit smaller and the ranks of the poor get a little bit larger. But at least the stock market is doing great, eh? If the U.S. economy really was doing well, government dependence would not be at epidemic levels. If the U.S. economy really was doing well, we wouldn’t have more than a million public school children that are homeless. If the U.S. economy really was doing well, the percentage of Americans that have a job would not be lower than it was when the last recession supposedly “ended”. Nobody that takes an honest look at the numbers can honestly say that the U.S. economy has recovered. The following are 19 reasons why you can laugh when anyone tells you that the economy is in good shape…
US consumer sentiment slips in June - CNBC.com - June 13, 2014 - U.S. consumer sentiment fell in June as views by consumers with the lowest incomes soured, a survey released on Friday showed. The Thomson Reuters/University of Michigan's preliminary June reading on the overall index on consumer sentiment came in at 81.2, down from 81.9 the month before. It was below the median forecast of 83.0 among economists polled by Reuters. "The change from May was too small to indicate a significant loss in sentiment," survey director Richard Curtin said in a statement. "The small month-to-month variations aside, the main finding from the recent surveys is that consumers have maintained their expectations at reasonably favorable levels for the past six months." The survey's barometer of current economic conditions rose to 95.4 from 94.5 and was below a forecast of 95.7. The survey's gauge of consumer expectations slipped to 72.2 from 73.7, and missed an expected 74.6. The survey's one-year inflation expectation was at 3.0 percent down from 3.3 percent, while the survey's five-to-10-year inflation outlook was at 2.9 percent compared with 2.8 percent...
RadioShack Is Collapsing - Business Insider - Rob Wile and Myles Udland - June 10, 2014 - RadioShack shares were down as much as 21% in premarket trading after the electronics retailer reported a wider than expected quarterly loss. The company posted a net loss of $98.3 million, or $0.97 a share. Analysts were looking for a loss of $0.52 per share. Revenue fell 13% from a year ago to $736.7 million and on a same-store basis, sales fell 14%, which the company said was driven by traffic declines and poor sales in its mobile business. Analysts were expecting revenue of $767.5 million. The electronics retailer said it ended the quarter with total liquidity of $423.7 million, including $61.8 million in cash and cash equivalents and $361.9 million available under a credit agreement. "Overall, our first quarter performance was challenged by an industry-wide decline in consumer electronics and a soft mobility market which impacted traffic trends throughout the quarter," chief executive Joseph Magnacca said in a statement. Magnacca added that the company has taken steps to cut costs, including lowering its corporate head count and reducing discretionary expenses. These charts show RadioShack's performance over the last year and the last decade. It's not pretty...
ObamaCare penalty to hit one million low-income Americans - Fox News - Washington Free Beacon - Elizabeth Harrington - June 10, 2014 - Roughly one million low-income Americans will pay a fine under ObamaCare, according to the Congressional Budget Office (CBO). The CBO estimated that four million people would pay the individual mandate penalty for not having health insurance by 2016 as a result of the president’s health care law, according to a report released last week, “All told, CBO and [the Joint Committee on Taxation] JCT estimate that about four million people will pay a penalty because they are uninsured in 2016 (a figure that includes uninsured dependents who have the penalty paid on their behalf),” the report said. “An estimated $4 billion will be collected from those who are uninsured in 2016, and, on average, an estimated $5 billion will be collected per year over the 2017–2024 period.” A chart accompanying the report revealed that 200,000 of those paying the penalty earn less than 100 percent of the poverty line. An additional 800,000 are considered low-income, earning between 100 and 199 percent of the poverty level. President Barack Obama was once critical of an individual mandate precisely because of its effect on low-income Americans. During a primary debate against Hillary Clinton, then-candidate Obama criticized the idea of a mandate for imposing fines on people who could not afford health insurance.
140 Years Of Gold & Silver In 10 Minutes - Mike Maloney
Hand-picked by Majority Whip Roy “Abramoff-R-Us” Blunt early in his tenure to be a deputy whip, sort of an official water-carrier, Cantor moved up swiftly through the ranks as a Blunt protégé, because he was cheerfully obedient when sitting in the room with Friends of Abramoff and because he was unusually good at the money. “He’s about the money,” one wag offers admiringly.But he was never about conservative principles. Instead, Cantor is one of those post-Reagan Republicans who have managed to reduce conservative policy to such grandiose, content-free platitudes that there is never any danger that their stump speeches at home, or even on the floor of the House, will get in the way of doing Washington business as usual. There are certain litmus tests that cogently demonstrate the difference between platitude and principle—-and one of them pertains to the matter of crony capitalist subsidies and tax breaks for big business. On that score, I once heard Cantor give a stem-winder in behalf of free markets at a conference full of business and financial types who nodded, applauded and whooped it up. But that was just a pro forma sermon. The next day he was back in Washington making sure that the Ex-Im bank authorization was extended for another 3-years...
The Generational Short: Banks, Wall Street, Housing and Luxury Retail Are Doomed - June 14, 2014 If Gen-Y cannot afford to buy Boomers’ houses at bubble-level prices, then what will keep housing prices at these elevated levels? Mish recently posted excerpts of a Brookings Institution study on changing generational values: How Millennials Could Upend Wall Street and Corporate America. The gist of the report is that Gen-Y (Millennials) view money, prestige, adversarial confrontation and managerial methods differently from the Baby Boom and Gen-X generations, and that this set of values will change Corporate America, the economy and the culture as Boomers exit managerial positions and their peak earning/spending years. Though we have to be careful in characterizing tens of millions of individuals as all reflecting one set of generational values, the basic idea is simply one of context:people who grow up in a specific milieu are naturally prone to sharing broadly similar perceptions and values. The Brookings authors claim that Millennials do not favor the adversarial style of the Boomers (competition and confrontation as means of advancing one’s cause/position) nor do they place great value on luxury goods as evidence of exclusivity. They actively distrust/loathe the banking sector and are financially conservative, preferring cash to investing in Wall Street. Asked to choose their ideal (corporate/state) job, their choices reflect preferences for a mix of security, idealism and technology. The big flaw in this career questionnaire (as far as I can discern) is that it did not offer the alternatives of self-employment/ entrepreneurship. Anecdotally, it seems clear that there is a strong entrepreneurial drive in Gen-Y–for example, What I’ve learned in my first year as a college dropout. One factor the report did not address fully is real estate/housing, which depends on bank-issued debt (mortgages) and the belief that a lifetime of paying a mortgage will magically result in financial security, based on the greater fool notion that someone in the future will be willing to pay more for an asset that hasn’t changed either qualitatively or quantitatively (other than needing more maintenance as it ages). This raises two issues: if Gen-Y cannot afford to buy Boomers’ houses at bubble-level prices, then what will keep housing prices at these elevated levels? Answer: nothing.Without strong demand for housing at sky-high prices, valuations will drop to whatever level demand can support. That level can be far lower than conventional housing analysts believe possible because they are still extrapolating Baby Boomer preferences and earnings into a future which will be quite different from the housing bubble decades. The second issue is a question: how much of the Boomers’ housing wealth will trickle down to Gen-Y when they actually need housing, i.e. when they’re starting families? The answer may well be: very little. If Gen-Y is unwilling or unable to take on enormous mortgages to buy bubble-priced housing, we can project a housing market in which Boomers are unloading millions of primary homes as they seek to downsize/raise cash for retirement but there aren’t enough Gen-Y buyers willing or able to buy these millions of homes at bubble valuations. In this scenario, home prices must decline to align with Gen-Y’s salaries (i.e. their ability to qualify for huge mortgages) and their willingness to shoulder bank-based debt.
Millennials 'overwhelmed' by debt - CNN Money - Blake Ellis - June 11, 2014 - Four in 10 millennials say they are "overwhelmed" by their debt -- nearly double the number of baby boomers who feel that way, according to a Wells Fargo survey of more than 1,600 millennials between 22 and 33 years old, and 1,500 baby boomers between 49 and 59 years old. To try to get out from underneath it, 47% said they spend at least half of their monthly paychecks on paying off their debts. On average, respondents put the biggest chunk of their income toward paying credit card bills, followed by mortgage debt, student loan debt, auto debt and medical debt. But even as they struggle financially -- with more than half living paycheck to paycheck -- many are making sure to at least tuck a little money away for savings. More than half of respondents said they are currently saving for retirement. Of that group, 46% are saving between 1% and 5% of their income. Another 31% are saving between 6% and 10%, while 18% are saving more than 10%. "The silver lining of the recession that started over five years ago is that a majority of millennials get that saving is a necessity and even equate it with 'surviving' tough times," said Karen Wimbish, director of Retail Retirement at Wells Fargo.
19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape - The economic Collapse Blog - Michael Snyder - June 10, 2014 - Have you heard the one about the “economic recovery” in the United States? It’s quite funny, but it is not actually true. Every day, the establishment media points to the fact that global stock markets have soared to unprecedented heights as evidence that the economy is improving. But just because a bunch of wealthy people have gotten temporarily even richer on paper does not mean that the real economy is in good shape. In fact, as you will see below, things just continue to get even tougher for the poor and the middle class. Retail stores are closing at the fastest pace since the fall of Lehman Brothers, the rate of homeownership in this country is the lowest that it has been in 19 years, one out of every five families do not have a single member that is employed, and one out of every five children is living in poverty. We are working harder, earning less and going into more debt. With each passing day, the middle class gets a little bit smaller and the ranks of the poor get a little bit larger. But at least the stock market is doing great, eh? If the U.S. economy really was doing well, government dependence would not be at epidemic levels. If the U.S. economy really was doing well, we wouldn’t have more than a million public school children that are homeless. If the U.S. economy really was doing well, the percentage of Americans that have a job would not be lower than it was when the last recession supposedly “ended”. Nobody that takes an honest look at the numbers can honestly say that the U.S. economy has recovered. The following are 19 reasons why you can laugh when anyone tells you that the economy is in good shape…
Bankrate: Mortgage Rates Continue to Climb - PR Newswire - Bankrate, Inc. - June 12, 2014 - Mortgage rates are on the rise again this week, with the benchmark 30-year fixed mortgage rate moving up to 4.34 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.34 discount and origination points. To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/. The average 15-year fixed mortgage rate inched up to 3.43 percent, while the larger jumbo 30-year fixed mortgage rate rose to 4.41 percent. Adjustable rate mortgages were also higher this week, with the 5-year ARM rising to 3.37 percent, the 7-year ARM jumping to 3.58 percent. As 2013 came to a close, the average 30-year fixed mortgage rate was 4.69 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,036.07. After drifting lower for much of the first five months of 2014, the average rate is now 4.32 percent, and the monthly payment for the same size loan would be $994.45, a savings of nearly $42 per month for anyone that waited.
US consumer sentiment slips in June - CNBC.com - June 13, 2014 - U.S. consumer sentiment fell in June as views by consumers with the lowest incomes soured, a survey released on Friday showed. The Thomson Reuters/University of Michigan's preliminary June reading on the overall index on consumer sentiment came in at 81.2, down from 81.9 the month before. It was below the median forecast of 83.0 among economists polled by Reuters. "The change from May was too small to indicate a significant loss in sentiment," survey director Richard Curtin said in a statement. "The small month-to-month variations aside, the main finding from the recent surveys is that consumers have maintained their expectations at reasonably favorable levels for the past six months." The survey's barometer of current economic conditions rose to 95.4 from 94.5 and was below a forecast of 95.7. The survey's gauge of consumer expectations slipped to 72.2 from 73.7, and missed an expected 74.6. The survey's one-year inflation expectation was at 3.0 percent down from 3.3 percent, while the survey's five-to-10-year inflation outlook was at 2.9 percent compared with 2.8 percent...
RadioShack Is Collapsing - Business Insider - Rob Wile and Myles Udland - June 10, 2014 - RadioShack shares were down as much as 21% in premarket trading after the electronics retailer reported a wider than expected quarterly loss. The company posted a net loss of $98.3 million, or $0.97 a share. Analysts were looking for a loss of $0.52 per share. Revenue fell 13% from a year ago to $736.7 million and on a same-store basis, sales fell 14%, which the company said was driven by traffic declines and poor sales in its mobile business. Analysts were expecting revenue of $767.5 million. The electronics retailer said it ended the quarter with total liquidity of $423.7 million, including $61.8 million in cash and cash equivalents and $361.9 million available under a credit agreement. "Overall, our first quarter performance was challenged by an industry-wide decline in consumer electronics and a soft mobility market which impacted traffic trends throughout the quarter," chief executive Joseph Magnacca said in a statement. Magnacca added that the company has taken steps to cut costs, including lowering its corporate head count and reducing discretionary expenses. These charts show RadioShack's performance over the last year and the last decade. It's not pretty...
ObamaCare penalty to hit one million low-income Americans - Fox News - Washington Free Beacon - Elizabeth Harrington - June 10, 2014 - Roughly one million low-income Americans will pay a fine under ObamaCare, according to the Congressional Budget Office (CBO). The CBO estimated that four million people would pay the individual mandate penalty for not having health insurance by 2016 as a result of the president’s health care law, according to a report released last week, “All told, CBO and [the Joint Committee on Taxation] JCT estimate that about four million people will pay a penalty because they are uninsured in 2016 (a figure that includes uninsured dependents who have the penalty paid on their behalf),” the report said. “An estimated $4 billion will be collected from those who are uninsured in 2016, and, on average, an estimated $5 billion will be collected per year over the 2017–2024 period.” A chart accompanying the report revealed that 200,000 of those paying the penalty earn less than 100 percent of the poverty line. An additional 800,000 are considered low-income, earning between 100 and 199 percent of the poverty level. President Barack Obama was once critical of an individual mandate precisely because of its effect on low-income Americans. During a primary debate against Hillary Clinton, then-candidate Obama criticized the idea of a mandate for imposing fines on people who could not afford health insurance.
140 Years Of Gold & Silver In 10 Minutes - Mike Maloney
Saturday, June 14, 2014
Agenda about the City Council meeting of June 17, 2014
This Agenda is about the Hickory City Council meeting that took place on the date listed above. City council meetings are held on the first and third Tuesdays of each Month in the Council Chambers of the Julian Whitener building.
At right of this page under Main Information links is an Hickory's City Website link. If you click on that link, it takes you to our city’s website, at the left of the page you will see the Agenda's and Minutes link you need to click. This will give you a choice of PDF files to upcoming and previous meetings.
You will find historic Agenda and Minutes links. Agendas show what is on the docket for the meeting of that date. The Minutes is an actual summary of the proceedings of the meeting of that date. You can also look in the upper right hand corner of the front page of the Hickory Hound and (will soon) find the link to the past history of Hickory City Newsletters.
Here is a summary of the agenda of the meeting. There were a couple of important items that were discussed at this meeting and the details are listed further below:
Please remember that pressing Ctrl and + will magnify the text and page and pressing Ctrl and - will make the text and page smaller. This will help the readability for those with smaller screens and/or eye difficulties.
City Website has changed - Here is a link to the City of Hickory Document Center
City Council Agenda - June 17, 2014
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The Hound's Notes:
1) The Bond Initiative is being presented as a Departmental report. So if people intend to be heard on the matter, they are going to have to be ready to speak during "Persons Requesting to be Heard". If you know someone who wants to address the Council on this matter, then please inform them. There is no set aside time during Departmental Reports for the public to address the Council.
2) We can already see in the wording below that the Council will be moving forward with the Bond Referendum. They are using the same attorneys that addressed the Council during Council's Charlotte retreat back on February 28, 2014.
Hickory City Council Dines And Talks Taxes In Charlotte - WFAE (NPR) - Tasnim Shamma - March 3, 2014
Uncertainty still blankets Inspiring Spaces initiative - Hickory Daily Record - February 28, 2014
Projects will have a pricetag - Kyle McCurry, Digital Journalist -WJZY Channel 46 Charlotte, NC
Reader Concerns about Inspiring Spaces - June 12, 2014
Citizen Review - Power Point Presentation
Ridgeview Citizen Review - Thoughts about the Ridgeview Citizen Review meeting
Citizens Briefing Presentation - 04/29/2014
20140603 - Hal Row 's First Talk - Budget, Inspiring Spaces, & Bond Referendum
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Invocation by Rev. David Roberts II, Pastor, Morning Star First Baptist Church
Special Presentations
A. Proclamation for National HIV Testing Day to Linda H. Sheehan, Director of Education and Outreach/ALFA
B. Presentation of the Distinguished Budget Presentation Award for the Fiscal Year Beginning July 1, 2013. This is the nineteenth consecutive year the City has received this recognition.
C. Business Well Crafted Award to Abee Architect PA, Dallas Abee presented by Business Development Committee Member Alan Jackson
Persons Requesting to Be Heard
Consent Agenda:
A. Approval to Accept an Award of Library Services and Technology Act (LSTA) Planning Grant in the amount of $20,160. - Library Staff requests approval of acceptance of the no-match Library Services and Technology Act (LSTA) Grant in the amount of $20,160 that was awarded to Hickory Public Library by the State Library of North Carolina to be used to hire a consultant and pay other related expenses involved in the development of a new strategic plan during FY 2014-2015.
B. Approval to Close Patrick Beaver Memorial Library and Ridgeview Branch Library on Friday, August 15, 2014. - Library Staff requests approval to close the Patrick Beaver Memorial Library and the Ridgeview Branch Library on Friday, August 15, 2014 to allow time for all library employees to participate in Staff training. Training will include Myers-Briggs personality typing, a motivational and/or generational speaker, and training on use of NC Works, a job search tool developed by the NC Department of Commerce.
C. Call for Public Hearing – for Consideration of Text Amendment (TA) 14-02 to the City’s Land Development Code. (Authorize Public Hearing for July 15, 2014)
D. Approval of a Resolution Approving the Town of Catawba Local Water Supply Plan. - North Carolina General Statute §143-355 requires all public water systems have a Local Water Supply Plan that gives a report of the water systems current demands and projection for future demands. This analysis is required to be performed and reported annually by public water suppliers with major updates every five years that require the passage of a Resolution approving the document by the governing board. Staff requests approval of a Resolution approving the Town of Catawba Local Water Supply Plan.
E. Approval of a Resolution Approving the City of Hickory Local Water Supply Plan. - North Carolina General Statute §143-355 requires all public water systems have a Local Water Supply Plan that gives a report of the water systems current demands and projection for future demands. This analysis is required to be performed and reported annually by public water suppliers with major updates every five years that require the passage of a Resolution approving the document by the governing board. Staff requests approval of a Resolution approving the City of Hickory Local Water Supply Plan.
F. Request from Hickory Police Department to Award Police Badge and Service Weapon to Retiring MPO Fred Hicks. - By authority of NC General Statute §20-187.2, City Council may award the service weapon and police badge to retiring MPO Fred Hicks upon his retirement from Hickory Police Department on July 1, 2014 after completing 30 years of qualifying service with Hickory Police Department. Upon approval from City Council, the police badge and service weapon will be declared surplus and removed from the City’s fixed asset inventory.
G. Request from Hickory Police Department to Award Police Badge and Service Weapon to Retiring Sergeant Greg Shook. - By authority of NC General Statute §20-187.2, City Council may award the service weapon and police badge to retiring Sergeant Greg Shook upon his retirement from Hickory Police Department on July 1, 2014 after completing 30 years of qualifying service with Hickory Police Department. Upon approval from City Council, the police badge and service weapon will be declared surplus and removed from the City’s fixed asset inventory.
H. Citizens’ Advisory Committee Recommendations for Assistance through the City of Hickory’s Housing Programs. - The following request was considered by the Citizens’ Advisory Committee at their regular meeting on June 5, 2014:
The following applicant is being recommended for approval for assistance under the City of Hickory’s 2013-2014 Urgent Repair Program. This program provides qualified low income citizens with assistance for emergency-related repairs not to exceed $5,400.
Terry Huffman, 841 18th Street NE, Hickory
I. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Interfaith Housing Development Corporation for FY 2014-2015 in the Amount of $30,000. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Interfaith Housing Development Corporation is a non-profit organization engaged in providing affordable homeownership opportunities to low and moderate income families. They are also the owners of the former Ridgeview Public Library, which they are planning to rehabilitate for use as a community center. Interfaith Housing Development Corporation requested and has been approved for a grant in the amount of $20,000 and a loan of $10,000 to assist in the rehabilitation of the former library into a community center.
J. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Safe Harbor Rescue Mission, Inc. for FY 2014-2015 in the Amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Safe Harbor Rescue Mission, Inc. is a neighborhood based non-profit organization engaged in providing shelter, counseling, and rehabilitation services to chronically dependent and homeless women. Safe Harbor Rescue Missions, Inc., operates a day shelter for homeless women at their facility on 2nd Avenue SE. Safe Harbor Rescue Missions, Inc. requested and has been approved for funding in the amount of $9,834 through the City’s Community Development Block Grant Program to enhance the services provided by the day shelter.
K. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Community Ridge Daycare for FY 2014-2015 in the amount of $1,900. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Community Ridge Daycare provides low cost childcare services for at risk children in order to enable parents to gain employment or attend school. It also provides extra services, including speech therapy for the children. The funds requested would be used to renovate an existing classroom and install an emergency fire door. Community Ridge Daycare has requested and been approved for funding in the amount of $1,900 through the City of Hickory’s Community Development Block Grant Program.
L. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Greater Hickory Cooperative Christian Ministry, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning &Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Greater Hickory Cooperative Christian Ministry, Inc. provides a Free Clinic, assisting needy and indigent persons with medical care they may otherwise not receive, including dental, medical and pharmacy services. Greater Hickory Cooperative Christian Ministry, Inc. has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
M. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Hickory Soup Kitchen, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. The Hickory Soup Kitchen provides meals to the City’s homeless and/or low income population. The Hickory Soup Kitchen has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
N. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Exodus Outreach Foundation, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Exodus Homes is a neighborhood based non-profit organization engaged in providing shelter, counseling, and rehabilitation services to chronically dependent and homeless men and women. Part of Exodus Homes’ process of moving clients toward self-sufficiency includes funding an Employment Coordinator support person to assist them in securing job training and employment. Exodus Outreach Foundation, Inc. has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
O. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Aids Leadership Foothills Area Alliance, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Aids Leadership Foothills Area Alliance, Inc. provides quality services to people living with HIV/AIDS and offers HIV prevention education programs to the community at large. Aids Leadership Foothills Alliance, Inc. has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
P. Approval of a Community Development Block Grant (CDBG) Funding Agreement with City of Refuge for FY 2014-2015 in the amount of $3,100. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. City of Refuge provides afterschool enrichment programs for school aged children in grades one through five. The afterschool sessions provide a structured learning and development environment with instruction and activities based on the North Carolina course of study and year-end testing activities. City of Refuge requested and been approved for funding in the amount of $3,100 through the City of Hickory’s Community Development Block Grant Program.
Q. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Habitat for Humanity of the Catawba Valley, Inc. for FY 2014-2015 in the amount of $20,000. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Habitat for Humanity of the Catawba Valley, Inc. is a non-profit organization engaged in providing affordable homeownership opportunities to low and moderate income families. Habitat for Humanity of the Catawba Valley, Inc. requested and been approved for a grant in the amount of $20,000 through the City’s Community Development Block Grant Program.
R. Approval of Two Sanitary Sewer Easements for Property owned by Marion Dwight Roseman. - Staff requests acceptance of two sanitary sewer line easements for the property of Marion Dwight Roseman, described as PIN 3723-11-65-9478 and PIN 3723-11-65-9378 for installation of a sanitary sewer line. This temporary and permanent easement is necessary for completion of the Sherwood Forest Subdivision Sanitary Sewer Project. The easements were negotiated for one 4-inch sewer tap for each property in exchange for the easements, a total of two taps.
S. Approval of a Sanitary Sewer Easement for Property owned by Sarah Smith Kaylor. - Staff requests acceptance of a sanitary sewer line easement for the property of Sarah Smith Kaylor, described as PIN 3723-11-75-1537 for installation of a sanitary sewer line. This temporary and permanent easement is necessary for completion of the Sherwood Forest Subdivision Sanitary Sewer Project. The easement was negotiated for one 4-inch sewer tap in exchange for the easement.
T. Approval of a Sanitary Sewer Easement for Property owned by Greater Shekinah Glory Church. - Staff requests acceptance of a 25 foot temporary and 25 foot permanent sanitary sewer line easement for the property of Greater Shekinah Glory Church, described as PIN 3723-07-59-0715. This easement is necessary for the completion of the Random Woods Subdivision Sanitary Sewer Project. The easement was negotiated for one 1-inch water tap, one 4-inch sewer tap and $500 in exchange for the easement.
U. Approval of the Loan Agreement with the National Naval Aviation Museum for Loaned Property Located at the Hickory Regional Airport. - The City of Hickory, Hickory Regional Airport, has on loan from the National Naval Aviation Museum (NNAM) certain retired aircraft and artifacts located at the Hickory Regional Airport and on display by the Hickory Aviation Museum. The Hickory Regional Airport has participated in, and has had on loan property from the National Naval Aviation Museum for over 15 years. The loan agreement with NNAM requires biennial recertification of the loaned property, which covers the period 2014-2016. The loaned property is assigned to the City of Hickory while the Hickory Aviation Museum holds full responsibility for the maintenance and exterior upkeep of said loan property including any associated costs. Staff recommends execution of the National Naval Aviation Museum Certification of Loan Government Property document.
V. Approval of an Amendment to the Economic Development Agreement with MAB Acquisitions, LLC for the Development of City Owned Property at Cloninger Mill Road and NC 127. - The Economic Development Agreement between the City and MAB Acquisitions, LLC was originally approved on second reading by Hickory City Council on March 21, 2014. This document contains a clause requiring the City to remove construction debris contained on the site and noted in a survey of the property within 30 days. The deadline to complete this action was May 4, 2014. Due to the extent of the construction debris on the site, and equipment failures, the City has not yet completed this action. The purchaser has not been able to conduct its required geotechnical and environmental analysis while the debris removal operation is underway. The Amendment to the Economic Development Agreement would extend the 120 day due diligence period by the amount of additional time needed to complete the debris removal. This will allow the City adequate time to complete the debris removal process while allowing the purchaser adequate time to conduct its required investigation of the site.
W. Approval of a request from Hickory Community Theatre for Funding for the Installation of a New Small Capacity Elevator at the Hickory Community Theatre Facility. - Staff requests approval of a request from the Hickory Community Theatre to install a new small capacity elevator at the Hickory Community Theatre facility (aka, Old City Hall). This is a City-owned facility that does not currently have an elevator, so the facility is not ADA compliant. This elevator would give disabled patrons access to the Fireman’s Kitchen on the bottom floor, the main floor, and the 2rd floor office area. The anticipated cost of the installation of this elevator is $158,750. The Hickory Community Theatre has raised approximately $1 million for other improvements to this City-owned facility, which attracts 15,000 people annually to the downtown area. Funds are available in the City’s current year budget for this expense, so no budget amendment would be required. Additionally, the City will consider participating in some bathroom renovations on the bottom floor (which are also not ADA compliant) once the elevator project is complete and we know whether or not there are funds remaining. Staff recommends approval.
Informational Item
A. Report of Mayor Wright’s travel to Raleigh, North Carolina, North Carolina League of Municipalities Town Hall Day (Registration 45.00, Meal Per Diem $20.50)
B. Report of Alderman Zagaroli’s travel to Raleigh, North Carolina, North Carolina League of Municipalities Town Hall Day (Registration 55.00, Meal Per Diem $20.50)
New Business - Public Hearings
1. Resolution and Order for Petition of Stanford Place Associates, LLC to Close a Portion of the former Hickory North Crosstown Loop and 13th Street NE. - On May 2, 2014, Attorney Stephen L. Palmer presented a petition on behalf of Stanford Place Associates, LLC, one of the property owners of property abutting a portion of the former Hickory North Crosstown Loop and 13th Street NE. This public hearing was advertised in a newspaper having general circulation in the Hickory area on May 24, May 30, June 6, and June 13, 2014.
New Business - Departmental Reports:
1. Bond Referendum
a. (1) Approval of a Resolution Directing Publication of Notice of Intent to Apply to the Local Government Commission.
(2) Approval of a Resolution Authorizing the Staff to Apply to the Local Government Commission.
(3) Approval of a Resolution Making Certain Findings of Fact.
b. Approval of an Engagement Letter with Parker Poe as GO Bond Counsel. - The City of Hickory is considering a GO Bond Referendum in November 2014. One of the requirements in this process is the City to engage in Bond Counsel for the purposes of assisting the City in navigating all the legal requirements that will be involved. Parker Poe is the leading Bond Counsel firm in the United States. Their Charlotte office would be assisting us in this process. If the GO Bond Referendum passes, there will be no charge for services provided through November 2014. If the Referendum does not pass we will be billed at their hourly rate for services provided to that point, the total of which is estimated to be approximately $5,000. However, there will be a fee in the range of $25,000 per GO Bond issuance.
c. Approval of an Agreement with First Southwest Finance to Provide Financial Advisory Services to the City of Hickory Related to GO Bond Process. - The City of Hickory is considering a GO Bond Referendum in November 2014. One of the requirements in this process is for the City to engage a financial services firm for the purposes of guiding the City through the GO Bond process, particularly the General Obligation Bond Transaction Implementation Phase which occurs after the referendum has been
approved by the voters.
At right of this page under Main Information links is an Hickory's City Website link. If you click on that link, it takes you to our city’s website, at the left of the page you will see the Agenda's and Minutes link you need to click. This will give you a choice of PDF files to upcoming and previous meetings.
You will find historic Agenda and Minutes links. Agendas show what is on the docket for the meeting of that date. The Minutes is an actual summary of the proceedings of the meeting of that date. You can also look in the upper right hand corner of the front page of the Hickory Hound and (will soon) find the link to the past history of Hickory City Newsletters.
Here is a summary of the agenda of the meeting. There were a couple of important items that were discussed at this meeting and the details are listed further below:
Please remember that pressing Ctrl and + will magnify the text and page and pressing Ctrl and - will make the text and page smaller. This will help the readability for those with smaller screens and/or eye difficulties.
City Website has changed - Here is a link to the City of Hickory Document Center
City Council Agenda - June 17, 2014----------------------------------------------------------------------------------------------
The Hound's Notes:
1) The Bond Initiative is being presented as a Departmental report. So if people intend to be heard on the matter, they are going to have to be ready to speak during "Persons Requesting to be Heard". If you know someone who wants to address the Council on this matter, then please inform them. There is no set aside time during Departmental Reports for the public to address the Council.
2) We can already see in the wording below that the Council will be moving forward with the Bond Referendum. They are using the same attorneys that addressed the Council during Council's Charlotte retreat back on February 28, 2014.
Hickory City Council Dines And Talks Taxes In Charlotte - WFAE (NPR) - Tasnim Shamma - March 3, 2014
Uncertainty still blankets Inspiring Spaces initiative - Hickory Daily Record - February 28, 2014
Projects will have a pricetag - Kyle McCurry, Digital Journalist -WJZY Channel 46 Charlotte, NC
Reader Concerns about Inspiring Spaces - June 12, 2014
Citizen Review - Power Point Presentation
Ridgeview Citizen Review - Thoughts about the Ridgeview Citizen Review meeting
Citizens Briefing Presentation - 04/29/2014
20140603 - Hal Row 's First Talk - Budget, Inspiring Spaces, & Bond Referendum
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Invocation by Rev. David Roberts II, Pastor, Morning Star First Baptist Church
Special Presentations
A. Proclamation for National HIV Testing Day to Linda H. Sheehan, Director of Education and Outreach/ALFA
B. Presentation of the Distinguished Budget Presentation Award for the Fiscal Year Beginning July 1, 2013. This is the nineteenth consecutive year the City has received this recognition.
C. Business Well Crafted Award to Abee Architect PA, Dallas Abee presented by Business Development Committee Member Alan Jackson
Persons Requesting to Be Heard
Consent Agenda:
A. Approval to Accept an Award of Library Services and Technology Act (LSTA) Planning Grant in the amount of $20,160. - Library Staff requests approval of acceptance of the no-match Library Services and Technology Act (LSTA) Grant in the amount of $20,160 that was awarded to Hickory Public Library by the State Library of North Carolina to be used to hire a consultant and pay other related expenses involved in the development of a new strategic plan during FY 2014-2015.
B. Approval to Close Patrick Beaver Memorial Library and Ridgeview Branch Library on Friday, August 15, 2014. - Library Staff requests approval to close the Patrick Beaver Memorial Library and the Ridgeview Branch Library on Friday, August 15, 2014 to allow time for all library employees to participate in Staff training. Training will include Myers-Briggs personality typing, a motivational and/or generational speaker, and training on use of NC Works, a job search tool developed by the NC Department of Commerce.
C. Call for Public Hearing – for Consideration of Text Amendment (TA) 14-02 to the City’s Land Development Code. (Authorize Public Hearing for July 15, 2014)
D. Approval of a Resolution Approving the Town of Catawba Local Water Supply Plan. - North Carolina General Statute §143-355 requires all public water systems have a Local Water Supply Plan that gives a report of the water systems current demands and projection for future demands. This analysis is required to be performed and reported annually by public water suppliers with major updates every five years that require the passage of a Resolution approving the document by the governing board. Staff requests approval of a Resolution approving the Town of Catawba Local Water Supply Plan.
E. Approval of a Resolution Approving the City of Hickory Local Water Supply Plan. - North Carolina General Statute §143-355 requires all public water systems have a Local Water Supply Plan that gives a report of the water systems current demands and projection for future demands. This analysis is required to be performed and reported annually by public water suppliers with major updates every five years that require the passage of a Resolution approving the document by the governing board. Staff requests approval of a Resolution approving the City of Hickory Local Water Supply Plan.
F. Request from Hickory Police Department to Award Police Badge and Service Weapon to Retiring MPO Fred Hicks. - By authority of NC General Statute §20-187.2, City Council may award the service weapon and police badge to retiring MPO Fred Hicks upon his retirement from Hickory Police Department on July 1, 2014 after completing 30 years of qualifying service with Hickory Police Department. Upon approval from City Council, the police badge and service weapon will be declared surplus and removed from the City’s fixed asset inventory.
G. Request from Hickory Police Department to Award Police Badge and Service Weapon to Retiring Sergeant Greg Shook. - By authority of NC General Statute §20-187.2, City Council may award the service weapon and police badge to retiring Sergeant Greg Shook upon his retirement from Hickory Police Department on July 1, 2014 after completing 30 years of qualifying service with Hickory Police Department. Upon approval from City Council, the police badge and service weapon will be declared surplus and removed from the City’s fixed asset inventory.
H. Citizens’ Advisory Committee Recommendations for Assistance through the City of Hickory’s Housing Programs. - The following request was considered by the Citizens’ Advisory Committee at their regular meeting on June 5, 2014:
The following applicant is being recommended for approval for assistance under the City of Hickory’s 2013-2014 Urgent Repair Program. This program provides qualified low income citizens with assistance for emergency-related repairs not to exceed $5,400.
Terry Huffman, 841 18th Street NE, Hickory
I. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Interfaith Housing Development Corporation for FY 2014-2015 in the Amount of $30,000. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Interfaith Housing Development Corporation is a non-profit organization engaged in providing affordable homeownership opportunities to low and moderate income families. They are also the owners of the former Ridgeview Public Library, which they are planning to rehabilitate for use as a community center. Interfaith Housing Development Corporation requested and has been approved for a grant in the amount of $20,000 and a loan of $10,000 to assist in the rehabilitation of the former library into a community center.
J. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Safe Harbor Rescue Mission, Inc. for FY 2014-2015 in the Amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Safe Harbor Rescue Mission, Inc. is a neighborhood based non-profit organization engaged in providing shelter, counseling, and rehabilitation services to chronically dependent and homeless women. Safe Harbor Rescue Missions, Inc., operates a day shelter for homeless women at their facility on 2nd Avenue SE. Safe Harbor Rescue Missions, Inc. requested and has been approved for funding in the amount of $9,834 through the City’s Community Development Block Grant Program to enhance the services provided by the day shelter.
K. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Community Ridge Daycare for FY 2014-2015 in the amount of $1,900. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Community Ridge Daycare provides low cost childcare services for at risk children in order to enable parents to gain employment or attend school. It also provides extra services, including speech therapy for the children. The funds requested would be used to renovate an existing classroom and install an emergency fire door. Community Ridge Daycare has requested and been approved for funding in the amount of $1,900 through the City of Hickory’s Community Development Block Grant Program.
L. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Greater Hickory Cooperative Christian Ministry, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning &Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Greater Hickory Cooperative Christian Ministry, Inc. provides a Free Clinic, assisting needy and indigent persons with medical care they may otherwise not receive, including dental, medical and pharmacy services. Greater Hickory Cooperative Christian Ministry, Inc. has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
M. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Hickory Soup Kitchen, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. The Hickory Soup Kitchen provides meals to the City’s homeless and/or low income population. The Hickory Soup Kitchen has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
N. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Exodus Outreach Foundation, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Exodus Homes is a neighborhood based non-profit organization engaged in providing shelter, counseling, and rehabilitation services to chronically dependent and homeless men and women. Part of Exodus Homes’ process of moving clients toward self-sufficiency includes funding an Employment Coordinator support person to assist them in securing job training and employment. Exodus Outreach Foundation, Inc. has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
O. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Aids Leadership Foothills Area Alliance, Inc. for FY 2014-2015 in the amount of $9,834. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Aids Leadership Foothills Area Alliance, Inc. provides quality services to people living with HIV/AIDS and offers HIV prevention education programs to the community at large. Aids Leadership Foothills Alliance, Inc. has requested and been approved for funding in the amount of $9,834 through the City of Hickory’s Community Development Block Grant Program.
P. Approval of a Community Development Block Grant (CDBG) Funding Agreement with City of Refuge for FY 2014-2015 in the amount of $3,100. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. City of Refuge provides afterschool enrichment programs for school aged children in grades one through five. The afterschool sessions provide a structured learning and development environment with instruction and activities based on the North Carolina course of study and year-end testing activities. City of Refuge requested and been approved for funding in the amount of $3,100 through the City of Hickory’s Community Development Block Grant Program.
Q. Approval of a Community Development Block Grant (CDBG) Funding Agreement with Habitat for Humanity of the Catawba Valley, Inc. for FY 2014-2015 in the amount of $20,000. - On January 22nd and 29th, 2014 the City of Hickory Department of Planning & Development under the auspices of the Community Development Block Grant Program held two neighborhood meetings. The meetings were held at Ridgeview Library and at City Hall. At these meetings, non-profit organizations were granted the opportunity to request funding for the upcoming year. The Citizen’s Advisory Committee reviewed and recommended funding for these agencies. City Council approved the allocation at their April 15th meeting. Habitat for Humanity of the Catawba Valley, Inc. is a non-profit organization engaged in providing affordable homeownership opportunities to low and moderate income families. Habitat for Humanity of the Catawba Valley, Inc. requested and been approved for a grant in the amount of $20,000 through the City’s Community Development Block Grant Program.
R. Approval of Two Sanitary Sewer Easements for Property owned by Marion Dwight Roseman. - Staff requests acceptance of two sanitary sewer line easements for the property of Marion Dwight Roseman, described as PIN 3723-11-65-9478 and PIN 3723-11-65-9378 for installation of a sanitary sewer line. This temporary and permanent easement is necessary for completion of the Sherwood Forest Subdivision Sanitary Sewer Project. The easements were negotiated for one 4-inch sewer tap for each property in exchange for the easements, a total of two taps.
S. Approval of a Sanitary Sewer Easement for Property owned by Sarah Smith Kaylor. - Staff requests acceptance of a sanitary sewer line easement for the property of Sarah Smith Kaylor, described as PIN 3723-11-75-1537 for installation of a sanitary sewer line. This temporary and permanent easement is necessary for completion of the Sherwood Forest Subdivision Sanitary Sewer Project. The easement was negotiated for one 4-inch sewer tap in exchange for the easement.
T. Approval of a Sanitary Sewer Easement for Property owned by Greater Shekinah Glory Church. - Staff requests acceptance of a 25 foot temporary and 25 foot permanent sanitary sewer line easement for the property of Greater Shekinah Glory Church, described as PIN 3723-07-59-0715. This easement is necessary for the completion of the Random Woods Subdivision Sanitary Sewer Project. The easement was negotiated for one 1-inch water tap, one 4-inch sewer tap and $500 in exchange for the easement.
U. Approval of the Loan Agreement with the National Naval Aviation Museum for Loaned Property Located at the Hickory Regional Airport. - The City of Hickory, Hickory Regional Airport, has on loan from the National Naval Aviation Museum (NNAM) certain retired aircraft and artifacts located at the Hickory Regional Airport and on display by the Hickory Aviation Museum. The Hickory Regional Airport has participated in, and has had on loan property from the National Naval Aviation Museum for over 15 years. The loan agreement with NNAM requires biennial recertification of the loaned property, which covers the period 2014-2016. The loaned property is assigned to the City of Hickory while the Hickory Aviation Museum holds full responsibility for the maintenance and exterior upkeep of said loan property including any associated costs. Staff recommends execution of the National Naval Aviation Museum Certification of Loan Government Property document.
V. Approval of an Amendment to the Economic Development Agreement with MAB Acquisitions, LLC for the Development of City Owned Property at Cloninger Mill Road and NC 127. - The Economic Development Agreement between the City and MAB Acquisitions, LLC was originally approved on second reading by Hickory City Council on March 21, 2014. This document contains a clause requiring the City to remove construction debris contained on the site and noted in a survey of the property within 30 days. The deadline to complete this action was May 4, 2014. Due to the extent of the construction debris on the site, and equipment failures, the City has not yet completed this action. The purchaser has not been able to conduct its required geotechnical and environmental analysis while the debris removal operation is underway. The Amendment to the Economic Development Agreement would extend the 120 day due diligence period by the amount of additional time needed to complete the debris removal. This will allow the City adequate time to complete the debris removal process while allowing the purchaser adequate time to conduct its required investigation of the site.
W. Approval of a request from Hickory Community Theatre for Funding for the Installation of a New Small Capacity Elevator at the Hickory Community Theatre Facility. - Staff requests approval of a request from the Hickory Community Theatre to install a new small capacity elevator at the Hickory Community Theatre facility (aka, Old City Hall). This is a City-owned facility that does not currently have an elevator, so the facility is not ADA compliant. This elevator would give disabled patrons access to the Fireman’s Kitchen on the bottom floor, the main floor, and the 2rd floor office area. The anticipated cost of the installation of this elevator is $158,750. The Hickory Community Theatre has raised approximately $1 million for other improvements to this City-owned facility, which attracts 15,000 people annually to the downtown area. Funds are available in the City’s current year budget for this expense, so no budget amendment would be required. Additionally, the City will consider participating in some bathroom renovations on the bottom floor (which are also not ADA compliant) once the elevator project is complete and we know whether or not there are funds remaining. Staff recommends approval.
Informational Item
A. Report of Mayor Wright’s travel to Raleigh, North Carolina, North Carolina League of Municipalities Town Hall Day (Registration 45.00, Meal Per Diem $20.50)
B. Report of Alderman Zagaroli’s travel to Raleigh, North Carolina, North Carolina League of Municipalities Town Hall Day (Registration 55.00, Meal Per Diem $20.50)
New Business - Public Hearings
1. Resolution and Order for Petition of Stanford Place Associates, LLC to Close a Portion of the former Hickory North Crosstown Loop and 13th Street NE. - On May 2, 2014, Attorney Stephen L. Palmer presented a petition on behalf of Stanford Place Associates, LLC, one of the property owners of property abutting a portion of the former Hickory North Crosstown Loop and 13th Street NE. This public hearing was advertised in a newspaper having general circulation in the Hickory area on May 24, May 30, June 6, and June 13, 2014.
New Business - Departmental Reports:
1. Bond Referendum
a. (1) Approval of a Resolution Directing Publication of Notice of Intent to Apply to the Local Government Commission.
(2) Approval of a Resolution Authorizing the Staff to Apply to the Local Government Commission.
(3) Approval of a Resolution Making Certain Findings of Fact.
b. Approval of an Engagement Letter with Parker Poe as GO Bond Counsel. - The City of Hickory is considering a GO Bond Referendum in November 2014. One of the requirements in this process is the City to engage in Bond Counsel for the purposes of assisting the City in navigating all the legal requirements that will be involved. Parker Poe is the leading Bond Counsel firm in the United States. Their Charlotte office would be assisting us in this process. If the GO Bond Referendum passes, there will be no charge for services provided through November 2014. If the Referendum does not pass we will be billed at their hourly rate for services provided to that point, the total of which is estimated to be approximately $5,000. However, there will be a fee in the range of $25,000 per GO Bond issuance.
c. Approval of an Agreement with First Southwest Finance to Provide Financial Advisory Services to the City of Hickory Related to GO Bond Process. - The City of Hickory is considering a GO Bond Referendum in November 2014. One of the requirements in this process is for the City to engage a financial services firm for the purposes of guiding the City through the GO Bond process, particularly the General Obligation Bond Transaction Implementation Phase which occurs after the referendum has been
approved by the voters.
Thursday, June 12, 2014
Reader Concerns about Inspiring Spaces
A few people who read this blog sent me e-mails about their concerns in regards to the Inspiring Spaces initiative and process, the referendum regarding it, and the taxes necessary to pay back the debts incurred in association with these projects. I list those concerns:
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(1) How can we be certain that the beautification efforts of the three cities in the report was the cause of their turnaround? Just because two things happen at the same time is no sign that one caused the other. What else might these cities have been doing as well that might have contributed to their success, perhaps even more. We need more information that we don’t have.
(2) At the federal level, a period of financial turmoil is right around the corner. Policies at the FED and with the federal government have guaranteed it. Is this the right time to be taking out a large loan, as you said Thom, perhaps borrowing something that cannot be repaid in the future? All the economists that you post, Thom, are urging citizens to pay off all their debts before this hits. Is this the right time to be considering a large loan that will have to be repaid with future taxes?
(3) The bond issue is far too large and far too open-ended for my taste. I have the impression that if it were passed, the Council would be in complete control on how and where it should be spent. It’s not in the same category as a water treatment plant bond that can be repaid with increased income from fees.
(4) In times of lean, I’ve always been taught that this is when you tighten your belt, eliminate the luxuries and concentrate on the necessities. A necessity is street repair because “a stitch in time saves nine” and this investment will save money in the long run. What items on the wish list could be considered things we need now?
(5) I do feel that not raising taxes on the new budget is a political ploy. Everyone understands that the cost of paving material has gone up considerably and most people want to see the higher cost reflected in the budget in a line item that can’t be fudged. I have an aversion to using a rainy day fund if it isn’t raining. If the Council feels that the fund is too large, future contributions should be curtailed instead of “spending it down.”
(6) The public-private partnership going on in Geitner Park is great. We should be encouraging this as much as we can. Every shopper in Hickory understands a 50% off sale!
(7) I like Harry’s (Hipps) comments about education and how it reflects on and influences all the other factors. I would rather see Hickory be known as the “education city” rather than the “city well-crafted.” We should be pulling out all the stops to give our citizens of all ages the education that will prepare them for the 21st Century. Isn’t this one of the important factors in attracting business to an area? The public-private partnership in this area has just begun and should be pushed even harder.
------------------------------------------------------------
If the Council establishes credibility on econ development (the good news is that they now see and acknowledge the problem), the public will go along with future projects if they make sense. The bottom line is that there is no rush. Mick Berry pointed out that they are not going to be done all at once anyway. There is not enough time to fully discuss the projects with the public by November. And some of the ideas need to be refocused. If my choice is the full enchilada or nothing, I will vote no.
-----------------------------------------------------------
(Hound Note): About City Manager Mick Berry telling people about the surprise of Catawba Valley Boulevard being developed in 1987, by all indications City Manager Berry has never talked to the people responsible for that evolution. How can Manager Berry understand local Real Estate Development, when he hasn't spoken with the developers who made these local projects happen in the past?
City Manager Berry and Assistant City Manager Andrea Surratt are telling people in these "Citizen Briefings" that the Highway 321 Lakefront Park Walkway project is going to be the next Catawba Valley Boulevard. There are many concerns including the 321 bridge being rebuilt, the topography, the rail line, the fact that there are issues with the county lines (Burke and Catawba) and you are going to have to deal with three counties (including Caldwell) on some of these issues. You have a failed drug store, a failed grocery store, and two failed restaurants right there. You also have an issue with the aging population in that immediate vicinity and the marketplace that they provide.
There is also a concern/question about Governmental Employees taking over Real Estate development here in Hickory and deciding upon objectives and priorities. What qualifies them to do that?
-------------------------------------------------------------------
(1) How can we be certain that the beautification efforts of the three cities in the report was the cause of their turnaround? Just because two things happen at the same time is no sign that one caused the other. What else might these cities have been doing as well that might have contributed to their success, perhaps even more. We need more information that we don’t have.
(2) At the federal level, a period of financial turmoil is right around the corner. Policies at the FED and with the federal government have guaranteed it. Is this the right time to be taking out a large loan, as you said Thom, perhaps borrowing something that cannot be repaid in the future? All the economists that you post, Thom, are urging citizens to pay off all their debts before this hits. Is this the right time to be considering a large loan that will have to be repaid with future taxes?
(3) The bond issue is far too large and far too open-ended for my taste. I have the impression that if it were passed, the Council would be in complete control on how and where it should be spent. It’s not in the same category as a water treatment plant bond that can be repaid with increased income from fees.
(4) In times of lean, I’ve always been taught that this is when you tighten your belt, eliminate the luxuries and concentrate on the necessities. A necessity is street repair because “a stitch in time saves nine” and this investment will save money in the long run. What items on the wish list could be considered things we need now?
(5) I do feel that not raising taxes on the new budget is a political ploy. Everyone understands that the cost of paving material has gone up considerably and most people want to see the higher cost reflected in the budget in a line item that can’t be fudged. I have an aversion to using a rainy day fund if it isn’t raining. If the Council feels that the fund is too large, future contributions should be curtailed instead of “spending it down.”
(6) The public-private partnership going on in Geitner Park is great. We should be encouraging this as much as we can. Every shopper in Hickory understands a 50% off sale!
(7) I like Harry’s (Hipps) comments about education and how it reflects on and influences all the other factors. I would rather see Hickory be known as the “education city” rather than the “city well-crafted.” We should be pulling out all the stops to give our citizens of all ages the education that will prepare them for the 21st Century. Isn’t this one of the important factors in attracting business to an area? The public-private partnership in this area has just begun and should be pushed even harder.
------------------------------------------------------------
If the Council establishes credibility on econ development (the good news is that they now see and acknowledge the problem), the public will go along with future projects if they make sense. The bottom line is that there is no rush. Mick Berry pointed out that they are not going to be done all at once anyway. There is not enough time to fully discuss the projects with the public by November. And some of the ideas need to be refocused. If my choice is the full enchilada or nothing, I will vote no.
-----------------------------------------------------------
(Hound Note): About City Manager Mick Berry telling people about the surprise of Catawba Valley Boulevard being developed in 1987, by all indications City Manager Berry has never talked to the people responsible for that evolution. How can Manager Berry understand local Real Estate Development, when he hasn't spoken with the developers who made these local projects happen in the past?
City Manager Berry and Assistant City Manager Andrea Surratt are telling people in these "Citizen Briefings" that the Highway 321 Lakefront Park Walkway project is going to be the next Catawba Valley Boulevard. There are many concerns including the 321 bridge being rebuilt, the topography, the rail line, the fact that there are issues with the county lines (Burke and Catawba) and you are going to have to deal with three counties (including Caldwell) on some of these issues. You have a failed drug store, a failed grocery store, and two failed restaurants right there. You also have an issue with the aging population in that immediate vicinity and the marketplace that they provide.
There is also a concern/question about Governmental Employees taking over Real Estate development here in Hickory and deciding upon objectives and priorities. What qualifies them to do that?
Wednesday, June 11, 2014
Reality 2014
The Complete "Platform for a 21st Century Hickory" - August 31, 2013
Hickory Area Population Remains at a Standstill - April 9, 2014
Harry Hipps speaks about The Gallup-Healthways Survey - April 2, 2014
Hickory Metro 2014 - Tied for 4th Most Miserable in the United States - March 25, 2014
42.3% of the people in Catawba County have a job - February 8, 2014
The reality of our current Unemployment Numbers - with factual statistics - Hickory, Catawba County, North Carolina - February 6, 2014
Tuesday, June 10, 2014
The Heat Goes On - Asia (1983)
This is where we are and have been 100 times before.
The Heat Goes On
You walk tall, got your head in the clouds
You talk soft, but you're thinking aloud
And you know, exactly what you want
You box shy, you're hard to get
You got the face that I can't forget
And you know, I know The Heat Goes On
I know that The Heat Goes On
I know that The Heat Goes On
You play tight, you're nobody's fool
You're not cold, but I know that you're cool
Look at you, I know The Heat Goes On
Now tell me, with your hand on you're heart
That you knew, you were right from the start
And you're sure, you felt it all along
You know that The Heat Goes On
You know that The Heat Goes On
Times to decide, times that I've lied
Problems will never be solved
Which way is wrong, which could be right?
This heat will always go on... on and on
You walk tall, got your head in the clouds
You talk soft, but you're thinking aloud
And you know, exactly what you want
You box shy, you're hard to get
You got the face that I'll never forget
You and I know, we know The Heat Goes On
You know that The Heat Goes On
You know that The Heat Goes On
(Jam)
You know that The Heat Goes On
You know that The Heat Goes On
The Heat Goes On
You walk tall, got your head in the clouds
You talk soft, but you're thinking aloud
And you know, exactly what you want
You box shy, you're hard to get
You got the face that I can't forget
And you know, I know The Heat Goes On
I know that The Heat Goes On
I know that The Heat Goes On
You play tight, you're nobody's fool
You're not cold, but I know that you're cool
Look at you, I know The Heat Goes On
Now tell me, with your hand on you're heart
That you knew, you were right from the start
And you're sure, you felt it all along
You know that The Heat Goes On
You know that The Heat Goes On
Times to decide, times that I've lied
Problems will never be solved
Which way is wrong, which could be right?
This heat will always go on... on and on
You walk tall, got your head in the clouds
You talk soft, but you're thinking aloud
And you know, exactly what you want
You box shy, you're hard to get
You got the face that I'll never forget
You and I know, we know The Heat Goes On
You know that The Heat Goes On
You know that The Heat Goes On
(Jam)
You know that The Heat Goes On
You know that The Heat Goes On
Songwriters
WETTON, JOHN KENNETH/DOWNES, GEOFF
WETTON, JOHN KENNETH/DOWNES, GEOFF
Published by
Lyrics © Warner/Chappell Music, Inc., BMG RIGHTS MANAGEMENT US, LLC
Lyrics © Warner/Chappell Music, Inc., BMG RIGHTS MANAGEMENT US, LLC
Sunday, June 8, 2014
Economic Stories of Relevance in Today's World -- June 8, 2014
Hound Notes: This week we see more contrived numbers from the government saying that the economy is turning up this quarter, "Unemployment is going down dammit. Why don't you believe us. Why don't you trust us." Because you have proven youselves to be idiots and we can see that the emperor wears no clothes. The government has been manipulating everything to maintain control/power. There is no discipline with these people. They are out of control.
The below the surface numbers don't lie. The seasonal numbers factor in unemployment is totally ambiguous and unrealistic. This is where the manipulation is taking place. The types of jobs being created do not create economic growth. Retail sales continue to show negativity going forward. The middle class is tapped out with very little upside credit capacity. Without access to money, good and services will not be consumed and there is your reason for the lack of Economic growth.
More Phantom Jobs Created–All In The Wrong Places - Paul Craig Roberts - June 6, 2014 -
Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 job or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true. My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com, is that on average about half of the new jobs each month are phantom jobs created by the birth-death model and inappropriate seasonal adjustments. So, I figured that the 217,000 jobs claimed for May are more like 108,000. Then I read John Williams’ report on the May jobs number: “Monthly payroll gains overstated by 200,000 plus jobs” In other words, there were zero new jobs in May. Just as the US government can turn an inconsequential Iraq, Afghanistan, Libya, and Syria into dangerous threats against “the world’s only superpower,” the US government can turn zero jobs growth into 217,000 jobs. It is easy when you have a prostitute media and a gullible public, both of which Washington most certainly has. But let’s take the government data at face value.
First, consider the news report that finally as of May 2014 as many Americans had jobs
as had jobs in January 2008. That might seem like good news until you take into account that since January 2008 the US has experienced 6.5 years of population growth. Economists seem to have settled on population growth adding 129,000 people to the work force each month. That comes to 10,000,000 people. Where are their jobs? The “jobs recovery” doesn’t provide for the 10 millions who have come of working age since January 2008. We can conclude from this that the official 6.3 percent unemployment rate is nonsense. The unemployment rate is in the neighborhood of 23 percent as John Williams has established.
US Workers In The Prime 25-54 Age Group Are Still 2.6 Million Short Of Recovering Post-Crisis Job Losses - Zero Hedge - Tyler Durden- June 7, 2014 - Pundits may be trying to spin this Friday's jobs report as indicative of an ongoing recovery, emphasizing that as of May, all the jobs that were lost since December 2007 have now been recovered, or this chart...
However the same pundits fail to mention is that while it took the Fed some $2.7 trillion in incremental liquidity to regain all the lost jobs (and concurrently push the S&P to absolutely ridiculous record numbers), at the same time the US population, which grew by 14.8 million since December 2007, has lost a record 12.8 million people form the labor force, which remains at an all time high 92 million! Further digging into the data, here are two other things you won't hear from the permabulls: while the May job gain of 217K was respectable, breaking down the jobs by age group as shown by the household survey, shows that not only did the majority of the jobs go to the lowest paying wages for yet another month, but for Americans in their prime working years, those aged 25-54, May was a month in which some 110K workers either lost their jobs, or were moved into the oldest, 55-69 age group. Furthermore, while the total number of jobs may have recovered its post December 2007 losses, for Americans aged 25-54, there is still a long, long time to go, with the prime US age group still over 2.6 million jobs short of recovering all of its post December-2007 losses.
Wal-Mart faces big hurdles - Associated Press - ANNE D'INNOCENZI - June 5, 2014 - The world's largest retailer faces new challenges at a time when low prices and one-stop shopping can be a few clicks away on a tablet computer or mobile phone. Wal-Mart Stores Inc. built its reputation on everyday low prices and convenient supercenters that allow customers to do all their shopping in one place. But revenue at established Wal-Mart stores in the U.S., which account for 60 percent of the company's total sales, has declined for five consecutive quarters. Meanwhile, the number of customers has fallen six quarters in a row. Like many other retail chains that cater to working-class Americans, Wal-Mart is a victim of an uneven economic recovery that has benefited well-heeled shoppers more than those in the lower-income rungs. Moreover, shoppers are no longer willing to spend hours in big supercenters. They're turning to online competitors like Amazon.com, dollar stores and pharmacies. Wal-Mart's annual shareholders' meeting on Friday could offer clues as to how Doug McMillon, who became Wal-Mart's CEO in February, plans to deal with the biggest issues Wal-Mart faces: CASH-STRAPPED SHOPPERS In an interview with The Associated Press, Bill Simon, CEO and president of Wal-Mart's U.S. stores division, says the top concerns among its shoppers are lack of jobs and gas prices. Wal-Mart's customers also still are struggling with a 2 percentage point increase in the Social Security payroll tax since Jan. 1, 2013. Additionally, they're facing reductions in government food stamp benefits. As a result, Wal-Mart's customers have changed their shopping habits. They're switching to chicken from beef, and choosing lower-price brands or store labels on staples like detergent. But they do splurge for special holidays. "It's been very choppy as to how they choose to spend," Simon says. To combat this, Wal-Mart stocks up on small packages at the end of the month when money is tight for customers. It's also counting on a new money transfer service it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere. But America's Research Group's C. Britt Beemer asks: "How do you get more money from shoppers whose disposable income is less?" PRICE PRESSURE Since the economic recovery, more stores are offering low prices, which has always been a centerpiece of Wal-Mart's success. As a result, Wal-Mart has had to focus more on cutting its prices. The move seems to be working. According to a Kantar Retail pricing survey conducted last October in the southern New Hampshire and northern Massachusetts area, Dollar General's basket of 21 categories across staples was 12 cents cheaper at $28.70 than at Wal-Mart. In the previous year, Dollar General was 18 percent cheaper. And in a separate study conducted a year ago, Amazon's prices on a basket of 59 items was actually 7 percent more expensive than Walmart.com and 16 percent pricier than at its supercenters. Analysts also praise Wal-Mart's Savings Catcher, an online tool that allows customers to compare Wal-Mart's prices on thousands of products with those of some competitors. If a lower price is found elsewhere, Wal-Mart refunds the difference in the form of a store credit. Wal-Mart plans to expand the tool nationwide after having tested it in seven markets since March. Still, low prices hurt sales and margins. For the latest quarter that ended on May 2, for instance, sales at Wal-Mart's U.S. stores that were open at least a year fell 0.1 percent...
*Source: CFSI, November 2013 Market Sizing Report
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The below the surface numbers don't lie. The seasonal numbers factor in unemployment is totally ambiguous and unrealistic. This is where the manipulation is taking place. The types of jobs being created do not create economic growth. Retail sales continue to show negativity going forward. The middle class is tapped out with very little upside credit capacity. Without access to money, good and services will not be consumed and there is your reason for the lack of Economic growth.
More Phantom Jobs Created–All In The Wrong Places - Paul Craig Roberts - June 6, 2014 -
Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 job or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true. My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com, is that on average about half of the new jobs each month are phantom jobs created by the birth-death model and inappropriate seasonal adjustments. So, I figured that the 217,000 jobs claimed for May are more like 108,000. Then I read John Williams’ report on the May jobs number: “Monthly payroll gains overstated by 200,000 plus jobs” In other words, there were zero new jobs in May. Just as the US government can turn an inconsequential Iraq, Afghanistan, Libya, and Syria into dangerous threats against “the world’s only superpower,” the US government can turn zero jobs growth into 217,000 jobs. It is easy when you have a prostitute media and a gullible public, both of which Washington most certainly has. But let’s take the government data at face value.
First, consider the news report that finally as of May 2014 as many Americans had jobs
as had jobs in January 2008. That might seem like good news until you take into account that since January 2008 the US has experienced 6.5 years of population growth. Economists seem to have settled on population growth adding 129,000 people to the work force each month. That comes to 10,000,000 people. Where are their jobs? The “jobs recovery” doesn’t provide for the 10 millions who have come of working age since January 2008. We can conclude from this that the official 6.3 percent unemployment rate is nonsense. The unemployment rate is in the neighborhood of 23 percent as John Williams has established.
US Workers In The Prime 25-54 Age Group Are Still 2.6 Million Short Of Recovering Post-Crisis Job Losses - Zero Hedge - Tyler Durden- June 7, 2014 - Pundits may be trying to spin this Friday's jobs report as indicative of an ongoing recovery, emphasizing that as of May, all the jobs that were lost since December 2007 have now been recovered, or this chart...
However the same pundits fail to mention is that while it took the Fed some $2.7 trillion in incremental liquidity to regain all the lost jobs (and concurrently push the S&P to absolutely ridiculous record numbers), at the same time the US population, which grew by 14.8 million since December 2007, has lost a record 12.8 million people form the labor force, which remains at an all time high 92 million! Further digging into the data, here are two other things you won't hear from the permabulls: while the May job gain of 217K was respectable, breaking down the jobs by age group as shown by the household survey, shows that not only did the majority of the jobs go to the lowest paying wages for yet another month, but for Americans in their prime working years, those aged 25-54, May was a month in which some 110K workers either lost their jobs, or were moved into the oldest, 55-69 age group. Furthermore, while the total number of jobs may have recovered its post December 2007 losses, for Americans aged 25-54, there is still a long, long time to go, with the prime US age group still over 2.6 million jobs short of recovering all of its post December-2007 losses.
Wal-Mart faces big hurdles - Associated Press - ANNE D'INNOCENZI - June 5, 2014 - The world's largest retailer faces new challenges at a time when low prices and one-stop shopping can be a few clicks away on a tablet computer or mobile phone. Wal-Mart Stores Inc. built its reputation on everyday low prices and convenient supercenters that allow customers to do all their shopping in one place. But revenue at established Wal-Mart stores in the U.S., which account for 60 percent of the company's total sales, has declined for five consecutive quarters. Meanwhile, the number of customers has fallen six quarters in a row. Like many other retail chains that cater to working-class Americans, Wal-Mart is a victim of an uneven economic recovery that has benefited well-heeled shoppers more than those in the lower-income rungs. Moreover, shoppers are no longer willing to spend hours in big supercenters. They're turning to online competitors like Amazon.com, dollar stores and pharmacies. Wal-Mart's annual shareholders' meeting on Friday could offer clues as to how Doug McMillon, who became Wal-Mart's CEO in February, plans to deal with the biggest issues Wal-Mart faces: CASH-STRAPPED SHOPPERS In an interview with The Associated Press, Bill Simon, CEO and president of Wal-Mart's U.S. stores division, says the top concerns among its shoppers are lack of jobs and gas prices. Wal-Mart's customers also still are struggling with a 2 percentage point increase in the Social Security payroll tax since Jan. 1, 2013. Additionally, they're facing reductions in government food stamp benefits. As a result, Wal-Mart's customers have changed their shopping habits. They're switching to chicken from beef, and choosing lower-price brands or store labels on staples like detergent. But they do splurge for special holidays. "It's been very choppy as to how they choose to spend," Simon says. To combat this, Wal-Mart stocks up on small packages at the end of the month when money is tight for customers. It's also counting on a new money transfer service it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere. But America's Research Group's C. Britt Beemer asks: "How do you get more money from shoppers whose disposable income is less?" PRICE PRESSURE Since the economic recovery, more stores are offering low prices, which has always been a centerpiece of Wal-Mart's success. As a result, Wal-Mart has had to focus more on cutting its prices. The move seems to be working. According to a Kantar Retail pricing survey conducted last October in the southern New Hampshire and northern Massachusetts area, Dollar General's basket of 21 categories across staples was 12 cents cheaper at $28.70 than at Wal-Mart. In the previous year, Dollar General was 18 percent cheaper. And in a separate study conducted a year ago, Amazon's prices on a basket of 59 items was actually 7 percent more expensive than Walmart.com and 16 percent pricier than at its supercenters. Analysts also praise Wal-Mart's Savings Catcher, an online tool that allows customers to compare Wal-Mart's prices on thousands of products with those of some competitors. If a lower price is found elsewhere, Wal-Mart refunds the difference in the form of a store credit. Wal-Mart plans to expand the tool nationwide after having tested it in seven markets since March. Still, low prices hurt sales and margins. For the latest quarter that ended on May 2, for instance, sales at Wal-Mart's U.S. stores that were open at least a year fell 0.1 percent...
Economist: U.S. Banks Preparing to Charge Customers For Deposits - Negative interest rates coming to USA - Infowars - Paul Joseph Watson -June 6, 2014 - In the week that the European Central Bank cut its deposit rate for banks from zero to -0.1%, economist Martin Armstrong warns that negative interest rates are coming to the United States, meaning that Americans will be forced to pay just to keep their money in the bank. In a move described as unprecedented, the ECB became the first central bank in history to cut any main interest rate to negative yesterday, part of a package of measures designed to encourage banks to provide more loans to businesses and households. Many view the policy as a desperate sign of Europe’s faltering economic recovery.
Critics claim that the action will do little to spur growth while threatening to cause inflation and unemployment. While banks in the EU have not indicated whether or not the costs will be passed on to consumers, the New York Times’ Neil Irwin asserts that this is inevitable. “Banks will most likely pass these negative interest rates on to consumers, or at least try to. They may try to do so not by explicitly charging a negative interest rate, but by paying no interest and charging a fee for account maintenance,” he writes. What about Americans? Will they also soon be charged by the bank simply for depositing their own money? Yes, according to economist Martin Armstrong. Armstrong, who is noted for calling the 1987 economic crash to the very day, warns that U.S. banks are preparing a raft of new account fees that will serve as a de facto negative interest rate. “In the USA, we are more-likely-than-not going to get the negative rates directly passed to consumers by the banks who will claim it is the Fed who will do so at the requests of the banks. Larry Summers has set the stage. This is just how it works. He flew the balloon to get everyone ready. This is likely to be bullish for the stock market,” writes Armstrong, noting that, “The talk behind the curtain is to impose negative interest rates on the consumer.”
GLOBAL MELTDOWN TO BE WORSE THAN 2008, GOLD & MUCH MORE - David Stockman: - King World News - June 6, 2014 - Former Dir. of the US Office of Management and Budget, Economic Policy Maker, Politician, Financier & Acclaimed Author - After leaving the White House, Stockman had a 20-year career on Wall Street where he joined Salomon Bros. He later became one of the original partners at New York-based private equity firm, The Blackstone Group and in 1999 started his own private equity fund based in Greenwich, Connecticut. Defying right- and left-wing boxes, his latest book a New York Times best-seller, The Great Deformation: The Corruption of Capitalism in America (2013), Stockman lays out how the U.S. has devolved from a free market economy into one fatally deformed by Washington’s endless fiscal largesse, K-street lobbies and Fed sponsored bailouts and printing press money.
(Link to the Audio of the Interview from King World News)
GLOBAL MELTDOWN TO BE WORSE THAN 2008, GOLD & MUCH MORE - David Stockman: - King World News - June 6, 2014 - Former Dir. of the US Office of Management and Budget, Economic Policy Maker, Politician, Financier & Acclaimed Author - After leaving the White House, Stockman had a 20-year career on Wall Street where he joined Salomon Bros. He later became one of the original partners at New York-based private equity firm, The Blackstone Group and in 1999 started his own private equity fund based in Greenwich, Connecticut. Defying right- and left-wing boxes, his latest book a New York Times best-seller, The Great Deformation: The Corruption of Capitalism in America (2013), Stockman lays out how the U.S. has devolved from a free market economy into one fatally deformed by Washington’s endless fiscal largesse, K-street lobbies and Fed sponsored bailouts and printing press money.
(Link to the Audio of the Interview from King World News)
Turning to pawn shops, check cashing services, and using payday loans to meet basic financial needs can be costly for many of us, with $89 billion a year going to fees and interest* for using these types of alternative financial services. It's time for change. New technology, new ideas and encouraging dialogue around this issue can help make managing money simple and more affordable. American Express is presenting this documentary to help improve financial inclusion in the United States. Academy Award®-winning filmmaker Davis Guggenheim is the executive producer of the documentary which is narrated by Tyler Perry and directed by Derek Doneen.
*Source: CFSI, November 2013 Market Sizing Report
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