Friday, May 8, 2009

GNB Weekend Update

The weekend has arrived...Here's the news...

Commissioners in one middle Georgia county have some tough decisions to make in the coming weeks. reports that Bibb County commissioners must find about $15 million to balance the next fiscal year's budget. Bibb County finance director Deborah Martin says she is projecting around $81 million for fiscal year 2010, but cautions that there's $96 million in funding requests that must be used. Commission chairman Sam Hart must decide what's needed and what's not before July 1.

Georgia's largest bank must raise more than $2 billion...and fast. That's according to federal regulators. The Atlanta Journal-Constitution reports that the Atlanta-based Sun Trust Bank must raise at least $2.2 billion to cover any potential losses if the recession continues. The company has less than 30 days to develop a plan to bolster its capital cushion. It also has until early November to carry that plan out. Yesterday, the federal government conducted a stress test on the nation's biggest banks to see how they would do during a recession. Regulators say that Sun Trust could lose almost $12 billion in 2009 and 2010 should the economic downturn take a turn for the worse.

Teachers not under contract in one metro Atlanta county could soon get good news. The Fayette Daily News reports at least 17 teachers without a contract in Fayette County could get to teach students under a new "Resident Teacher" program. That plan was unveiled during a school board there earlier this week. Those teachers would be placed at one of 17 schools within the county, and be used as an "on site resident teacher". Under the plan, though, such teachers would work the standard 180 days during the school year, without benefits.

That's the news. GNB is available online at, and on Twitter at Have a good weekend.

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