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Senate budget chairman considers first post-stimulus budget

December 30, 2011 By

In the last few legislative sessions lawmakers have been faced with increasing challenges to create a state budget. Another great one awaits them when General Assembly convenes again on Wednesday.

Lawmakers return to the State Capital on Wednesday.

The last of the federal dollars from the American Recovery and Reinvestment Act, about $400 million, went into the budget for fiscal year 2012. With none left to help shore up the new plan, Senate Appropriations Committee chairman Kurt Schaefer (R-Columbia) says legislators will be tested. “What we’re looking at is kind of hitting part of that wall that we would have hit back then, but for all that money that the federal government borrowed and then sent out to the states. So this is the year that, I think, where we have to decide what our priorities are going to be.”

Schaefer says those priorities are clear, based on a provision in the Constitution. “Number one in that list is public debt, and that always is our first thing that we fund, but number two is public education. So, I think this is really the year that we need to demonstrate that we’re going to follow our constitutional responsibility and what the people of the state of Missouri have determined is a top priority, and that’s K through 12 and higher education.”

The House, the Senate and the Governor arrived at an estimate of projected revenue of 3.9 percent growth. Senator Schaefer thinks that is fairly accurate, and represents about $7.5 billion, or about $285 million more for fiscal year 2013 than 2012.

The Senate Appropriations Committee’s first hearing of the new session is set for Tuesday, January 10.

Filed Under: Economy, Legislature, News, Politics & Government Tagged With: , , , ,

Jason Hall to head Economic Development

December 30, 2011 By

Gov. Jay Nixon has named Jason Hall as the new director of the Missouri Department of Economic Development.

Hall is currently the executive director of the Missouri Technology Corporation.

Nixon’s office says in his new position, Hall will oversee continued implementation of the Missouri Strategic Initiative for Economic Growth, the five-year blueprint developed by the Nixon administration and business leaders throughout the state.

In 2009, Nixon appointed Hall to lead the Missouri Technology Corporation, where Nixon says he oversaw the transformation and rejuvenation of the organization and its mission of supporting the growth of high-tech scientific and technology companies in the state.

“Hall was instrumental in the development of Missouri’s competitive application for the State Small Business Credit Initiative, a program that is investing $27 million in high-tech, small-business growth and job creation in Missouri,” Nixon says. “The two programs developed under Missouri’s SSBCI application, the IDEA and Grow Missouri loan programs, have been recognized nationally as models other states should follow.”

The MTC also has supported a number of key initiatives to develop entrepreneurial talent in Missouri and to help entrepreneurs transform bright ideas into successful and growing entrepreneurial companies, including firms like Pulse Therapeutics, Leinco Technologies, Newsy.com, Soy Labs, and SCD Probiotics. The MTC also played a key role in attracting a major investment from DuPont/Pioneer for a biotech facility in the Bootheel.

“Jason Hall is exactly the type of bright, energetic leader we need to help create jobs and move Missouri’s economy forward,” Nixon says. “Under Jason’s leadership, the Missouri Technology Corporation has developed into a strong force for innovation and job-creation in our state. Our successful IDEA and Grow Missouri loan programs have been recognized nationally and are models for other states to follow, and the legislature and Missourians also have embraced Jason’s leadership at MTC, as shown by the strong support for our innovative MOSIRA legislation.

“With his strong background at the MTC and his stellar academic record, I know Jason will bring energy, dedication and professionalism to his new position as director of the Missouri Department of Economic Development.”

Nixon is complimentary of David Kerr for his strong leadership of the Department of Economic Development over the past two years, and says he looks forward to continuing to work closely with Hall to implement the Missouri Strategic Initiative for Economic Growth, create more jobs in high-growth industries, and keep Missouri’s economy moving forward.

Hall says he looks forward to working with Nixon as Missouri turns the corner “after a tough national downturn, and our economy is beginning to move in the right direction.”

Hall earned a bachelor’s degree in economics in 1997 from Bates College in Lewiston, Maine, and a law degree from Vanderbilt University Law School in 2002, where he was editor in chief of the Vanderbilt Law Review.

Hall served a one-year appointment as a law clerk for the Hon. Gerald Bard Tjoflat of the U.S. Court of Appeals for the 11th Circuit in Jacksonville, Fla., and then worked as an attorney in private practice.

Filed Under: Business, News, Politics & Government

Still time to makes changes before filing 2011 tax return (AUDIO)

December 30, 2011 By

IRS spokesman Michael Devine says the number one thing people should start doing is getting their paperwork together. But beyond that, he says making charitable contributions for tax deductions should be done today and tomorrow. Devine says for those who have stocks, cut your losses.

He says the sooner people get a folder together with documents proving donations, contributions, retirement funds and stock returns, the easier it will be to file quickly and accurately.

He says for those with fairly simple returns, who are making less than 58 thousand dollars a year, the IRS has a free filing system on its web site. He says for some people, they can do their federal and state taxes together on that site. He says there’s a less than one percent margin of error in electronic tax returns, so for those who can, it’s a good idea. He says if your return is going to be more complicated than that, to find someone who is recommended by friends and family and knows your tax situation.

He says this year people have a few more days to get their taxes done: the deadline is April 17th instead of 15th because of a weekend followed by a federal holiday.

AUDIO Allison Blood reports. Mp3 [0:58]

Filed Under: News, Taxes

Fire ravages Kansas City church

December 30, 2011 By

The Westport Presbyterian Church – founded in 1835 – has met at 40th and Westport Road since 1903—after a fire forced their relocation there.  The two-alarm blaze broke out around 5:30 yesterday evening.

Kansas City Fire Department’s Joe Vitale …ensuring neighboring structures were protected as some like Pamela Spencer had to flee her office. Everyone did make it out safely as word spread as quickly as the flames.

Also on the scene KC Fire Captain Louie Martin, who after five decades, was working his last shift.

Ray Read contributed to this report.

Filed Under: Briefs

Missouri consumers can seek a piece of $500 million LCD settlement

December 30, 2011 By

The Attorney General’s Office has reached a settlement with five companies it says were collaborating to hike prices on some popular electronic products.

Attorney General Chris Koster is the national co-chair of the antitrust committee of the National Association of Attorneys General.

Chris Koster’s office worked with counterparts in seven states and the U.S. Justice Department to file a suit in August 2010 against seven companies. He says two years of investigation went into that suit that lead to the settlement that so far totals over $500 million dollars.

The settlement has been filed in federal court in San Francisco and must be approved by the court. Litigation continues with two companies, Display Co., Ltd., AU Optronics Corporation.

The companies who have agreed to settle the suit are Chimei Innolux Corp., Chi Mei Optoelectronics USA, Inc., Chi Mei Optoelectronics Japan Co., Ltd, HannStar Display Corporation, Hitachi, Ltd., Hitachi Displays, Ltd., Hitachi Electronic Devices, USA, Inc., Samsung Electronics Co., Ltd., Samsung Electronics America, Inc., Samsung Semiconductor, Inc., Sharp Corporation, and Sharp Electronics Corporation.

Products that use LCD screens include computer monitors, notebook computers and televisions.

Consumers from Missouri and the seven other states that filed suit who bought products from those companies between January 1, 1999 and December 31, 2006 can file a claim to the settlement money. Those who would like to be notified when that process begins are urged to e-mail the Missouri Attorney General’s Office, or write to it at P.O. Box 899, Jefferson City, Missouri, 65102 to provide an address. More information on how to file a claim will be available at the Attorney General’s website.

Koster says, “Now I recognize that a lot of people have lost their reciepts or never kept those reciepts, and we’re trying to work out a system with the court that recognizes that serial numbers and model numbers are going to have to suffice.”

No distribution will occur until the court approves the settlement and litigation is completed against the remaining two companies.

Filed Under: Business, Crime & Courts, Featured, News Tagged With: , , , , , ,
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