Jobs plan ignores housing, economists say
President Obama’s jobs-creation package, unveiled last week and already en route to Congress, is offering no relief for the housing industry, according to economists interviewed by the Los Angeles Times.
The $447 billion combination of tax cuts and infrastructure spending does not address home sales, prices or stalled residential construction, which many consider to be a root cause of the nation’s economic woes.
“That’s probably the biggest missing ingredient here," said economist Mark Zandi.
The National Association of Home Builders (NAHB) said it was “discouraged” that the Obama administration “still fails to recognize” the important role that housing plays in the nation’s work force. In a statement released the day after Obama’s Sept. 8 speech to Congress, NAHB chairman Bob Nielsen, a builder from Reno, Nev., said: “Nothing packs a bigger local economic impact than home building. Constructing 100 average single-family homes generates more than 300 full-time jobs, $23.1 million in wage and business income, and $8.9 million in federal, state and local tax revenue.
"Housing has traditionally led the nation out of past recessions and needs to be playing a far bigger role than it has so far in today’s lackluster recovery. That won’t happen until federal regulators move to end the credit freeze for new home production, banks allow qualified home buyers access to affordable home loans and policymakers acknowledge there is a clear need to support homeownership and get housing moving again to spur growth, create jobs and restore consumer confidence."
A paralytic and immense
A paralytic and immense difficulty for small businesses and individuals who're definitely qualifiable but cannot get loans, even those with excellent scores, is causing a horribly misplaced frustration and anger that's incorrectly placing blame directly on the Obama administration. Those of us who know better know it was the Senate Banking Comittee overrun with lobbyists for the banking industry who spent millions to have the rules changed , inflicting awful regulations and restrictions AFTER we bailed them out with tax payer dollars so they can hold on to the money instead of lending, which is why we bailed them out in the first place, so they would keep lending !!! In my business I see it everyday, buyers who go through immense, impractical grief along with small businesses waiting weeks upon weeks for cash in advance that should have closed much sooner, Cursing the President and talking about how we need to get "a Republican in office" so we can finally have a fair set of banking regulations, especially since this would also immensely increase jobs to return to the home industry. Why hasn't the president reacted to this? Besides the fact that this can mean millions of jobs!! Someone needs to get word to this administration to correct this in the eyes of our business communities so they can at least know where this comes from, and work to ease regulations in practical, responsible manners.
Sears names new supply chain leader
Sears Holdings announced that former UPS executive Raj Penkar is joining the company as SVP and president of the company’s supply chain.
In his new role, Penkar will be accountable for all aspects of the company’s supply chain, including logistics, warehousing, inventory management and distribution. Prior to joining Sears, Penkar worked at UPS for 24 years and most recently served as president of UPS’ customer solutions division.
"I believe that Raj’s vast experience in driving innovative customer solutions and logistics strategy will be invaluable to our company as we continue to put the customer first in everything we do," Sears president and CEO Lou D’Ambrosio said. "Supply chain and fulfillment are key components in ensuring that we have the right product assortment, at the right place, and at the right time to meet the needs of every customer online, in their home and at the store. Raj’s customer insight is a key asset for any organization and I welcome him to Sears Holdings."
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Thank you, tradesmen
"Too seldom do we appreciate America’s tradesmen. The guys who show up when the toilet is overflowing, or the A/C quit on a 100-degree day, or the rain is pouring through the kitchen ceiling. When do we say ‘thanks’ to the tradesmen who build America and keep it running? This year, Sept. 16 is the first National Tradesmen Day. And everyone can participate.
"I respect America’s tradesmen — the men and women who work with their hands. They build our homes, roads, businesses and schools. They keep our cars running, our lights on, our water flowing and so much more. They are the backbone of our functioning nation — and that’s why they deserve a national day of recognition.
“National Tradesmen Day, to be held each year on the third Friday in September, should become a day when each one of us pauses to thank a tradesman. Whether an auto mechanic, roofer, bricklayer, plumber, electrician or carpenter — for their efforts, I am eternally grateful.
“And so is Mike Rowe of the popular TV show “Dirty Jobs.” According to Mike, ‘Because of my role on Dirty Jobs, a lot of people think I speak on behalf of America’s tradesmen. In fact, I don’t. From what I’ve seen, tradesmen don’t really need a spokesman — what they need are fans, regular people who understand the magnitude of their work, the impact of their chosen profession and the importance of their skill. As a guy addicted to heating, air conditioning, affordable electricity, solid foundations, smooth roads and indoor plumbing, I’m happy to honor our country’s skilled tradesmen on Sept. 16, and the 364 days that follow. I’d encourage anyone else who has benefited from their work to do the same.”
“Let’s celebrate National Tradesmen Day with dignity and fun. Perhaps we visit our local elementary school and explain how a job in a skilled trade is a solid, decent and admirable way to support a family. Or drop a box of doughnuts off at a job site.
“To work with one’s hands — to build something — always has been and always should be commendable. Today, we make it official. Thank you, America’s Tradesmen!”
— Ross Porter
President, Irwin Tools
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