| CDA launches Workforce Housing Fund, invests $100,000
A new fund approved this morning by the Crookston Development Authority specifically designed to expand affordable home ownership opportunities for the local workforce is raising eyebrows - in a positive fashion - at the state level, a housing expert with Tri-Valley Opportunity Council, Inc. told CDA board members.Even though the fund was approved today, Jason Carlson said he's been mentioning it to various officials on the state level at various meetings, and it's been "very well" received."Crookston is getting together to design and capitalize a fund for the improvement of the community, and it's unique," he said. It's almost unfortunate that it's so unique, Carlson added. "Usually, you have to tailor your needs to the almost countless number of programs that are out there," he explained.
Thruway Tolls to Rise Into 2010
As you get ready for that trip to grandmother's house this Thanksgiving, that road trip will cost you a little more in the future. Tolls on the New York State Thruway look likely to go up again. A key committee of the New York Thruway Authority has approved two more toll increases. Tolls are already going up 10 percent starting in January. The latest toll hikes would raise tolls by 5 percent in 2009, and another 5 percent in 2010. When those increases are fully implemented, the cash rate for driving from New York City to Buffalo, will cost $18.36, up from $15.15. It's money the authority says it needs to continue maintaining the road. "They've been fixing these thruways since the day they were built," said motorist Emil Chapin. "I see nothing different." "If they're saying they were going to actually improve the roads and the bridges, then it would be worth it.
Families cut back on spending plans
With a wedding planned for August and a new mortgage to pay, Laura Capp and her fiance don't have a lot of money to spend on Christmas this year. So Capp and Fred Rihn will limit their gift list, try to make rather than buy some of the items they do give and eliminate some holiday travel. .
UK small caps lower in early trade; Clinton Cards hit by sales update
LONDON (Thomson Financial) - UK small caps were sharply lower in early trade, mirroring the wider market where an initial mark-up failed to hold. Clinton Cards (Nachrichten) stood out among the losers as dealers reacted to a disappointing sales update. The FTSE Small Cap index was 15.3 points shy at 3,499.1 by 9.15 am, while the FTSE 100 was 30.2 off at 6,090.6. Among fallers, a disappointing sales update undermined Clinton Cards, 4 pence adrift at 58. Group like-for-like sales for the 16-weeks to Nov 18 rose 2.0 pct -- Clinton brand sales by 1.6 pct, and Birthdays brand grew 3.1 pct. In reaction, Seymour Pierce reiterated its 'underperform' stance, continuing to see downside risk to forecasts. Freeplay Energy was another casualty, sliding 2-1/2 to 6-1/2 as the energy products maker revealed its hunger for cash.
Virgin takes lead in Northern Rock bids
Northern Rock PLC will hold accelerated takeover discussions with a consortium led by Virgin Group, the battered mortgage lender said Monday. Virgin, which wants to re-brand Northern Rock as part of Virgin Money business, says its consortium would repay 11 billion pounds ($22.7 billion) of the 25 billion pounds ($50 billion) the Bank of England has loaned to Northern Rock on the completion of the transaction. The remainder of the money would be paid "in due course," Northern Rock said in an announcement to the London Stock Exchange. The Virgin Consortium also promised additional funding facilities to support the business. After falling 11.5 percent in early trading Monday on the London Stock Exchange, buyers bid shares up to close at 110.1 pence ($2.06), or 28 percent.
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