Wednesday, March 25, 2009

GNB Update

It's Wednesday...the mid-way point of this week. Here's the news...

Columbus is hit hard again...with more layoffs...

Synovus Financial Corporation confirmed yesterday that it's cutting more than 200 jobs. That includes 74 jobs at its home base in Columbus. Another 50 jobs will be slashed in the Atlanta area. That region is suffering from a severe downturn in the housing market. In all, just under 6,600 people will still be employed at Synovus. That's down from almost 7,300 employees at the company last year.

Albany will soon get funding from Georgia's leading power co-operative. The Albany City Commission last night passed a proposal to change the city charter. The move allows that local government the power to control at least two-thirds of the credits that its Water, Gas, & Light Commission will receive over the next decade through its agreement with the Municipal Electric Authority of Georgia (MEAG). The remaining third will go to a trust fund. But a pre-briefing measure to have the issue tabled failed. But Albany will still get at least $100 million of those credits.

The Georgia House had two attempts to pass the expansion of the homestead exemption. Both times it has failed. The latest attempt to get the legislation pushed through failed by a margin of 109 to 63. The bill would have allowed Georgia voters to decide in 2010 whether to double the tax break for homeowners from $2,000 to $4,000. But House Democrats kept it from reaching the two-thirds majority it needed to pass. It was the second time this month that the homestead exemption was rejected.

That's the news. Remember to visit for the latest Georgia-related news all day and all night. Have a good Wednesday evening.


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