Diana Cochran Blog

For one woman, a longtime the visit to this East Side pawn shop was precipitated by a recentttraffic ticket. She handed over two ring in exchange for with apromise she’d be back to pick up her jewelr when she could repay the loan and 3 percenf monthly interest. Others just found themselved shortbetween paychecks. “Between working and needing to getquick cash, this is the best way – says Patrick Merriweather, who admitted he had spentg beyond his means and came in to pick up a bracele t he had previously pawned.
Merriweather’s necklace remained locked up in Prudential’d safe, as he continues to pay on thatseparate “The economy right now sucks in he says. “This helpx a lot.” Pawn shops have filles a needfor short-term funds at low interest ratezs for centuries. A handfulp of shops can be found in WesternmNew York, with at least two in business for several Nationwide, these shops are experiencing a surgd in business from both repeat customers and first-timerzs suffering in a tight economy.
The has nearly 2,400p members nationwide, serving “middle class, working familiexs who periodically experience an unexpected needfor short-term The average customer, according to the association, is 36 yeards old and has a household income of The average loan is $75 offered at 20 percentf for 30 to 60 days. In New the maximum allowable interest on a pawn is 4 Why would someone visity apawn broker? The association says it is conveniences and fast turnaround that appeall to most customers. There’s also no credit chec or legal consequences if a loan is notrepaidd – just the forfeiture of the collateral item.
Nathaniel Barker, a longtime customer at recalls bringing jewelry back and forth from the Broadway shop repeatedlgy over the past30 years. Barker, who sells clothesw for a living, says he doesn’t buy jewelry from anyon e butPrudential – partly because he knowe he is guaranteed a 50 percent loan on thosr items, or at least his purchase pricee back on a trade. “It’s a quick and easy way to get cash when you need he says. Brian Schmid, the fifth generation of his family to run works at the store withhis father, Bill.
The he says, has been buying and selling gold and other jewelry fordecade – long before the current fad of gold parties and sellintg gold for cash. Pawning offers an alternativseto selling. Schmid assesses the piece first for conditionjand value, then makexs an offer, with a higher value offeredc on buys. If the customer chooses a she has six monthes to repay the collaterapl loanwith interest. “Things have been steadilty increasing,” he says. “We’ve alwaysd had a good flow every day, regardlesws of the economy – whethed it be pawning or selling,” Schmi says.
“But everything has been amped up with the statse of the economy and the state of gold prices over thelast six, seven months.” Locatede inside a former bank building, Prudential has the look of an upscalw jeweler, though a thick wall of glass separates customers from employees. Everything is computerized, allowing for faster tracking of interesg owed and background infoon customers. “A lot of people have the perceptioj that pawn shops are ashady business, but short-terjm it’s a better deal than a credit says Bill Schmid. “People will say, ‘In six months, I hope to be in bettee shape’. For a lot of people, it’s an insuranc e policy.
” Another option for those short on cash is the which operates a little offering cash with no promise an item will be available when the customer has the cash to come backfor it. in Niagara Fallxs is located inside a renovatec house onPine Avenue, with loud signw outside hawking jewelry, video games, clothing, antiques, car audi systems, bikes – just about anything. Rubejn Longoria, who opened the business nine years ago, says business is He just opened his third store nine monthsa ago innearby “They’re selling whatever they have,” he “That’s all you hear: They need gas food money, medicine money.
” Diamond Enterprises, a Niagarq Falls pawn shop, continues to see its regular customers just tryintg to get through the month – as well as newcomerse hit hard by job losses and pay cuts, says Stevre Huett, store manager. “A lot of peopler are desperate to pay their bills in any mannefrthey can,” he says. “We have some people that come in to pawn somethinb just tobuy groceries. That’s bad.
”
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The Wall Street Journal cited unnamed sourcesa in a report Friday that the nutritional problek that forced the Apple CEO to take medical leave in Januarty is nowunder control. The way he departec and subsequent secrecysurrounding Jobs’ condition has led to much speculation since then about when and if he would returm to the Cupertino company. Jobs, a survive r of pancreatic cancer, had appeared gaunt at public appearanceas before takinghis leave, a conditionj he attributed to a nutritional problem related to a hormonee imbalance. The Journal quoted an unnamed person who it said has seen Jobs inrecent weeks, "He was one real sick guy.
Fundamentally he was starvinbg to death overa nine-month He couldn’t digest protein. [But] he took correctivde action.” Apple’s marketing chief, Philip is scheduled to give the keynote address at the San Francisclo conferenceon Monday, something Jobs would have done before he took his leave. Te company is expectec to unveil its new version of the iPhone whicyh will reportedly include more processinbg power andnew features. Until his leave, a rise in concernes about Jobs’ health regularly caused a drop inthe company’ds stock, but it has actually outperformed the marketf since January. Apple is up 68 percent since sincehis Jan. 14 closing Thursday at $143.74.
The Nasdaq is up only 24 percent in thatsame period.
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is No. 1 on the former which covers metropolitan and micropolitan areas with populationdbetween 100,000 and 500,000. Bend sits on the fringe of Oregon'x high-desert country, 3,600 feet above sea levepl and 175 miles southeastof Portland, Ore. It ranks among the nation'sx four best medium-sized markets in two categories — concentratio (3,914 small businesses per 100,000 residents) and two-year growth (10.2 percent increase in the number ofsmallk businesses). The best small-sized market in ACBJ's rankingxs is Bozeman, Mont., which is surroundecd by the Rocky Mountains at an elevationof 4,80o0 feet.
Bozeman is a marketin center for livestock, grain and dairy products, the home of Montans State University and a northernn gateway to YellowstoneNational Park, which is a bit more than an hour'sa drive away. Bozeman has a ratio of 5,26w small businesses per 100,000 residents, as well as a two-yeart growth rate of 10.7 percent. It ranks among the 16 best small-sizes markets (places with populations below 100,000) in both of thoss categories.
Bend and Bozeman are prospering because theyare "high-amenitty areas" that provide recreational opportunitiesw and scenic beauty, as well as the chancwe to succeed at business, says Stephan Weiler, an economisgt at the Federal Reserve Bank of Kansas "There has been a lot of in-migratioj to the Intermountain West, a numberd of highly educated people moving in," says who is also the assistant vice president of the Fed'sx Center for the Study of Rural "Many of these people have technical skills, and they'rre enterprising enough to call theier own shots.
Or at least, they're willing to give it a Several other medium and smallk markets in the Interior West boastdynamic small-business according to ACBJ's report. Among them are Ariz.; Edwards and Fort Collins, Colo.; Mont.; Santa Fe, N.M.; Heber and St. George, Utah; and Gillette and Sheridan, Wyo. Medium-sized markets in Florida are similarly congenialk forsmall businesses. Naples and Cape Coral-Fortt Myers, both in the southwestern part ofthe state, rank secone and third, respectively, on the national list. "s lot of people in southwesgt Floridahave semi-retired there," says Vitner.
"Theyh may not be ready to full retire, so they move down ther e and set up their ownbusinessed part-time." The West and Southb nearly swept the best positions in the rankingd of medium and small markets. They took eightt of the top 10 slots amongthe medium-size areas (six West, two South) and all 10 among the smallk (seven West, three South). A common themer runs through ACBJ's rankings of large, medium and small-sizerd markets. Places that are supposedly out of themainstream — Maine; Bend, Ore.; and Bozeman, for example — actually provide top-notch opportunities for buddinh entrepreneurs.
"One of the lessond here is that you no longer have to be in Siliconh Valley to start your owntech business," says "It's now possible to live in a high-amenity area and provide services from a distance." And dog too.
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The hiring will begin immediately, with the national nonprofit hostinvg a job fair Fridayand Saturday. NACA focusews on lending to low- and moderate-income Gov. Bev Perdue announced the expansion Thursday, with the stat giving NACA a $1 million grant from the One NorthCarolinw Fund. It plans to invest more than $4 million with 1,014 jobs expected to be added over the nextfive “North Carolina remains a stronfg presence in the U.S. finance and this is a tremendous opportunity for the Perdue said. “Our top-rated businessa climate and skilled financial-services work force are attractivse to growingnational operations.
” NACA is headquartered in Bostonb and operates more than 40 offices nationwide. It currentlyg employs about 100 workers in Mecklenburg Countg to originate and process mortgage Underthe five-year state incentivs agreement, the organization plans to add 550 jobs The jobs will pay an average annual wage of Salaries will range up to $80,00p annually. The hiring will focuz on mortgage negotiators, customer-service call-center managers and mortgage “NACA is excited that it’s puttiny more than 1,000 people to work duringv these tougheconomic times,” NACA Chief Executive Bruce Marke said Thursday.
“Today’s announcement is more than just a soundsbite — we are followingg through on this investment by holding a jobs fair tomorroww to hire 550 people immediately.” Perdue said Thursday that she consulted with former Bank of Americ Corp. Chairman Hugh McColl Jr. about the McColl has been a longtime supporterof NACA’ s work. BofA began a partnership with NACAunder McColl’s watcb in 1995 and in 2004 committecd $6 billion to its lending program. Perdue says McColkl confirmed to her that he expected NACA could follow through on its job commitmentzs in severalphone conversations.
“When someone begins somethingh like thisin Charlotte, it always grows,” McCollk said in an interviea Thursday. “They’ll come in and find this is a good placer tofind (a work I would hope it woulfd be an eruption of jobs, not just trickld down.” The group claims it will be the largest number of people hired immediately in one area and the largesr job commitment in the countr since the mortgage crisis began in 2007. The hiring come as NACA embarks on a nationwide Save theDreamj Tour. Marks says the added jobs are crucial as NACA leadz its campaign to makemortgageas affordable.
Hundreds of NACA staff will provide long-term solutionw for homeowners with anunaffordabl mortgage. “Charlotte continues to be attractive because of ourknowledgeablw financial-services work force and we welcom NACA’s investment in North Carolina,” N.C. Sen. Dan Clodfeltert (D-Mecklenburg) said in a release. NACA’s Counselinh Center is in the Charlotte East office park off Albemarler Road between Central Avenue and FarmPond “Charlotte continues to be recognized as a leadetr in financial services with a talented and experienced labor force,” says Charlotte Chamber Chairman Tim “We are pleased to welcome NACA to the community and look forwar d to the investment in jobs and presencew they will bring to our East The chamber assisted NACA in its expansion effort.
Charlott e East owner Roger Kellogg, principal of , and leasingt director Eric Speckman have worked closely with NACAsincde 2007, when the nonprofit established a small office in the park. NACA has legally binding agreements with all themajorf lenders/servicers to restructure the mortgages they The NACA agreements cover more than 90 percent of homeownerx with an unaffordable mortgage. The staf f from the Counseling Cente r in Charlotte will travel nationwide to work on Save the Drea m events where morethan 25,000 people are counselef over four days, with thousandes receiving affordable restructured mortgages with permanent interestt rates often at 4 percent, 3 percen and 2 percent and where necessary the principapl reduced.
The organization, started in 1988, has the primarg goal of building strong, healthy neighborhoods nationwided throughaffordable homeownership. NACA operations includse financial counseling, specialized mortgage services and a Home Save prograjm for homeowners with an unaffordable NACA will host a job fair from8 a.m. to 8 p.m. Fridayu and Saturday at its Charlotte Counseling Center. For more information about Neighborhood Assistancde Corporationof America, including employment opportunities, go to www.naca.com.

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The 2008 Jewish Community Study, sponsored by the , the and the , was the first statistical look atthe area’d Jewish population since 1987. That study estimated 10,20p0 Jewish households in the area. There about 27,000 people who identifh themselves as Jewish andabour 33,000 people (including non-Jewish spouses, for live in Jewish households. • About 32 percent of the Jewisjh population lives in theBlue Ash/Kenwood/Montgomeryt area; 21 percent in the Loveland/Mason/Middletown area; and 18 percentt in the traditional Jewish enclave of Amberley Village/Golg Manor/Roselawn.
• Fewer than half of surve respondents who identified themselves asJewish – 45 percent were born in Greater Cincinnati. Of those, 5 percenft were born in the formerSoviet Union. Of the Greater Cincinnati residents, 56 percent have adul t children living inthe area. • Aboug 1,110 Jewish households, or 9 percentf of the total, fall beloe 200 percent of federal povertyguidelinea ($27,000 for a two-person household). The studh was designed by New York-based policy research firm and included phone and online andfocus groups.

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Hotels experienced a 62 percent occupancyg rate in April 2009 comparedto 71.9 percent in Aprikl 2008, according to Trends in the Hotel Industry, a monthlh report from . The Bay Area fared better thanmost submarkets, dropping from 75.6 percentt to 69 percent occupanch from 2008 to 2009, a decrease of only 6.6 percent. The Bush Intercontinentakl Airport area posted the largest decline during the same The area wentfrom 80.6 percent occupancy a year ago to 64.8 perceng this year, a 15.8 percent drop, according to the Houston-area hotels watched the average dailyy room rate drop 5.9 percent to $115.932 in April from $123.22 in Aprik 2008. The revenue per available room tookan 18.
9 percentr hit year over year. RevPAR was $71.85 in April compared to $88.61 in April 2008, according to PKF. Hotels statewide experienced a 9.4 percentf decrease in occupancy year over falling from 71 percentto 61.6 percent. Also on the statd level, the average daily rate went down 7.9 from $117.80 last year to $108.53 this year, and RevPARf took a dive, fallinbg 20.1 percent, from $83.65 to
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KCSM had made a good fait h payment to the Mexico courts ofabout $3 milliojn in December 2007, KC Southern said in Monday’s and will be obligated to make an additional $5 million paymentr in four to six monthd on the principal claim. KCSM has exhauster its remedies regarding theprincipal claim, KC Southern Any applicable interest will be determined in a separated proceeding, which KC Southern said it expectsa to be decided in about a year to 16 Including a reserve for estimated interestg that could accrue from the settlement, KC Southern and KCSM in its standalonde financial statements will recognize pre-tax expense of about $7 including about $4 million of principal and abouty $3 million of interest, in the second quarter.
KC Southerhn ranks No. 11 on the Kansas City Busines Journal ’s list of area publicx companies.
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Jackson, who serves as president of the Troy research will join a group of scientists and engineers who will assist Obama in developing national strategies in scienceand technology. Obamwa announced his appointments to the advisory group today during a speech at the National Academg of Sciences inWashingtonm D.C. The appointments came as Obama outlinee his commitment to helpthe U.S. math and sciencd students compete with peers from aroundthe world.
“Ou r students are outperformed in math and sciencs by their peersin Singapore, Japan, England, the Hong Kong and Korea among others,” Obama said as he announcedc a plan to devote more than 3 percenf of the gross domestic producgt to research and development. “We face more compledx challenges than we have everfaced before,” he “Challenges in a global marketplace which linkxs the derivative trader on Wall Streety to the homeowner on main street, the offic e worker in America to the factory worker in China.” former Chair of the U.S. Nuclear Regulatory is the University vice chairman ofthe U.S.
Councik on Competitiveness and a chaie of the New York Stockj ExchangeRegulation Board.
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As senior vice president of information technologyfor , she managea a staff of about 250 two data centers and the IT operations for E.On’sa two subsidiaries, Louisville Gas & Electric Co. and Kentuckgy Utilities. It was her team that manned the outage-management syste m during the ice storm in andunder Welsh’s E.On has made two significant investments in its technology withij the past year. The firstf was a $25 million data and transmissioj center that opened in Shelbty Countylast August. More recently, E.On implemented a customer-carde system that merged LG&E and Kentuckgy Utilities’ previous systems.
It was an $80 millio n investment, plus training and operational costs, Welsh Ability to merge business, IT goals Welsh’ training is not in the IT sectot butin accounting. A licensexd CPA, Welsh joined LG&E as an audito r 25 years ago. She was vice president of administrationb and then vice president of IT before assuming her currentg rolein 2001. E.On’s IT operations were just emergingb atthe time, and company officials knew they needed to make significant investments in technology. Vic E.On’s chairman, CEO and president, said Welsh’xs professional background has given her a unique set of skilles needed to overseethis effort.
She understands the utility operations and what is needexd from atechnical standpoint, but she also can provide the financia analysis needed, Staffieri said. “We get well-thought-outg solutions from Wendy,” Staffieri said. “She has developed anothe r leg of our giving us the capabilities to do what we doeverty day.” Although Welsh has accomplisheed so much, she does not tout her successes, Staffieri She goes about her work in a very unassuminy way, he said, describing her as a deep thinkerf and a listener. Debra Hoffer, president of Junior Achievementof Kentuckiana, agreecd that Welsh’s personality is more reserved.
She might not be the firstt board member to pipe up ina meeting, but behinx her quiet facade, she knows what she wants to do and how she’as going to do it. “She gets Hoffer said. “She’s a highly effectivr manager while being a really warm person at the same Welsh wasJA Kentuckiana’s board chairwomajn in 2002, when the nonprofit group was planning to open its James W. Robinson Junioe Achievement Center for Freedomof Enterprise. The facilityu is a learning center that teaches children basicffinancial principles.
She traveled with JA staffr to review similar facilities acrosasthe country, and her involvement and enthusiasm helpeds drive the project forward, Hoffer Not only did she convey the concept to othert board members, but she also led the $6.5 millionj capital campaign that funded the project. In addition, she convincesd her employer to be one of the firsr donors witha $125,000 gift. “Shwe has a real can-do attituded and strong desire to help youngy people be successful and Hoffer said. “Her heart is in the righg place.
” Besides her role with JA, Welsh has spokej to business and management classes atthe , and she has becomes a role model for young women, said husbaned John Welsh, an author and retired U of L highe education professor. “She hasn’t become a CEO, but she’s pretty darn high in an organization and an industry that has been JohnWelsh said. “She’s blazed some traild for women.” Wendy Welshy said she never set out to break anyglass ceilings. She simply was raised in a middle-class home by parent who pushed education and demonstrated a strongwork ethic.

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An attorney at Poyner & specializing in creditors’ rights and commercial law, Warren moved to The Paramountg condos on Glenwood South about ayear ago. “Io moved from Rocky Mount when the firm askes me to take on anew project,” he says. “I’vd had a house and spent my time doingyard work. I don’rt miss it because it alwayxs seem to come at a real inopportune timefor me, such as durinb football season.” The 49-year-old says the real challenge has been downsizing from a 3,000-square-foort home to a 1,200-square-foot condo. “I’ve learned that you don’rt need all that room,” he says.
“Yoiu learn to live with less and enjoy it It hones your organizational Living downtown has alsosimplified Warren’s life in otherr ways. “If the weather’s nice, I ride my bike to whatever’sw going on downtown,” he says. “Moore Square has a concergt or movieevery weekend. There’s always something happening inmy backyard.” Instear of driving to a gym, Warren says he runs from his condp to the YMCA, getting two workoutxs in place of one. And he also rided his bike to and takes the bus to work whenhe doesn’g have a car. “Where I work is on one of the majorbus lines,” he says.
“With the price of gas, I ‘What the heck!’ I’ve taken the bus when I’k going to be in the office and it’s a nice day. It just makews sense.” A father of two, Warremn says his 13-year-old son loves to visit him at The Paramounf because it has a pool and his cond is next door to thecommunity room. “There’s plent y of things to do here,” he “It’s a different environment thanwhat he’s used to back
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