Thursday, January 29, 2009

GNB Update

Here's the Thursday edition of the GNB Update...

We start off with more bad news from Columbus. Cessna is cutting 100 jobs from its facility there. It currently has 650 employees. Nationwide, the Wichita, Kansas-based aircraft manufacturer plans to eliminate up to more than 4,600 by the end of March. Just last week, Columbus lost a major supplier for Kia when DongNam Tech announced it was no longer coming to the Chattahoochee Valley.

By now, you've heard that the House of Representatives passed President Obama's stimulus package for $819 billion late Wednesday night. But ecomonists at the University of Georgia's Terry College of Business say southwest Georgia won't see the fruits of the President's work, at least not yet. In fact, Selig Center for Economic Growth director Jeffrey Humphreys says Albany will be especially hard hit because of the impeding loss of Cooper Tire. He expects that things won't "bottom out" until the middle of 2010.

Lawmakers may soon give Georgia's cities a choice: either cut spending or raise property taxes. They proposed legislation that could force the state's cities, counties, and school boards to resort to that no-win situation. The proposal would make it all but impossible for the state to fund a property tax worth over $400 million.

Finally, the state Senate by a unanimous vote passed the Zero-Based Budgeting Act. Georgia Legislative Watch reports the senators voted 50-0 to approve "SB-1", which calls for approriators to eliminate ineffective programs, as well as wasteful spending.

That's the news. Don't forget you can log on to GNB at And tell as many people about GNB. Enjoy your Thursday night.

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