03 May 2010

Braley Statement on FEMA Trailer Hearing

By Amanda Crawford

Washington, DC - Congressman Bruce Braley (D-Iowa) released the following statement today after attending a Congressional Committee hearing examining the safety and public sale of FEMA trailers. In 2008, after historic flooding in Iowa, it was discovered that more than 100 FEMA-provided trailers in Iowa were infected with mold. It was also reported the trailers contained high levels of formaldehyde.

In November of 2007, a federal court order suspended all sales of FEMA trailers until January 1, 2010. When the court order expired, FEMA sold over 100,000 trailers with warning labels indicating they were "not to be used for housing".

"With such a dismal record of providing unsafe housing, I am concerned about FEMA's sale of these units and how they will be used." Braley said. "I am not sure that the government should be selling trailers to the public that they have already been determined to pose risks to human health. It is important that we continue to examine this issue that has impacted hurricane victims in the Gulf Coast, as well as flooding victims in Iowa and other parts of the Midwest."

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03 May 2010

Harkin: Financial Reform Needed to Hold Wall Street Accountable and Help Main Street

By Sen. Tom Harkin
April 28, 2010

WASHINGTON, D.C. - Senator Tom Harkin (D-IA) spoke on the Senate floor today before the third scheduled procedural vote to bring financial reform legislation up for consideration.  The previous two attempts Monday and Tuesday failed due to Republican obstructionism.  Harkin's full remarks follow. 

"Mr. President, yesterday in the Permanent Subcommittee on Investigations, we learned more about the reckless actions of traders and executives at Goldman Sachs. Goldman Sachs was hardly the only bad actor in bringing our financial system to the brink of collapse in 2008.  Traders and executives at many other financial institutions got fabulously wealthy by gaming the unregulated casinos on Wall Street.  They walked away with fortunes, even as millions of Americans lost their jobs, their savings, and/or their homes. 

"Yet, as we witnessed in yesterday's hearing, Wall Street remains arrogant and unrepentant.  And it has the gall to believe that it should remain free to continue business as usual.  To that end, it has mobilized a legion of lobbyists - an estimated 1,500 of them . . . 15 lobbyists for every Senator - to try to kill or water down financial reform legislation. 

"It is deeply unfortunate that every one of our colleagues on the other side of the aisle have joined with Wall Street in obstructing this legislation - every one of them is not just filibustering the bill, but even preventing it from coming to the floor for debate. 

"I say to my Republican colleagues:  Senator Dodd and Senator Lincoln have bent over backward to consult with Republicans and invite bipartisan cooperation.  Their good-faith efforts have produced solid, common-sense legislation.  Can it be improved?  Of course.  But we can only amend and improve this legislation if the Republican filibuster ends and the bill is brought to the floor.

"Mr. President, it is a bitter irony that, even as we spent a fortune in taxpayer dollars to rescue the global financial system, the self-appointed masters of the universe on Wall Street rewarded themselves with billions in bonuses and geared up to fight efforts by Congress to prevent a replay of the 2008 meltdown.

"Wall Street is all too used to living a different life - and playing by different rules - from Main Street.  And nowhere is this disconnect between Wall Street and Main Street more stark than in the area of compensation.  Over the last decades, compensation in the financial sector has skyrocketed, with some executives walking away with annual compensation of hundreds of millions of dollars, even as the inflation-adjusted incomes of ordinary working Americans have failed to rise. 

"Mr. President, I am dwelling on this matter of compensation because it points to a larger issue.  In my view, a big reason for the financial collapse of 2008 is that things got seriously out of balance and out of whack.  As Glass-Steagall was repealed, as special interests attacked the very idea of government regulation, and as the SEC and other watchdog agencies turned into permissive poodles, bad actors on Wall Street stepped into the void. 

"Pursuing fabulous riches, they drove our economy off a cliff.  And it is ordinary Americans, the ones who work hard and play by the rules, who have paid such a terrible price for Wall Street's recklessness.

"And that is exactly why we need financial reform legislation.  As others have noted, financial crises should not be things that happen every five to seven, much like periodic floods.  Just as we can build dikes to prevent floods, we can take common-sense steps to prevent future financial meltdowns.

"This legislation will protect consumers in their everyday transactions involving everything from mortgages to credit cards to payday loans.  It will safeguard families whose life savings and pensions can be devastated when a financial system collapses.  And it will guard against future massive meltdowns in the financial system that almost always cause collateral damage to millions of innocent bystanders and to the broader economy.

"By all means, strong financial reform must include regulation of the derivatives market.  I am very pleased that the basis for this regulation is the provision passed out of the Agriculture Committee under the leadership of Chairman Lincoln.

"Derivatives contracts have been at the heart of Wall Street's financial manipulation. From December 2000 to June 2008, the height of Wall Street's boom, the face-value of over-the-counter derivatives grew from $95 billion to $683 trillion.

"Now, I have no objection to derivatives as financial instruments. Many manufacturing companies use these financial instruments legitimately to hedge their risks.  But, we also know that many parts of this market amount to nothing more than pure-and-simple gambling. So, despite derivatives' usefulness in many circumstances, we also know that the current structure of the market is in dire need of fundamental reform.

"The derivatives legislation reported out of the Agriculture Committee, last week, is now a component of the larger reform bill that we hope will soon be before the Senate. This proposal would bring these transactions into the light of day by requiring that all transactions be reported to regulators in real-time. It would also bring the vast majorities of these contracts into clearinghouses and exchanges. These market mechanisms help to reduce the concentration of risk in the system and bolster public transparency.  This legislation also gets to the heart of the 'too big to fail' problem by prohibiting swaps entities from also being commercial banks. Commercial banks that are backed by the government should not be able to use that government backing to support their high-stakes gambling.  That only magnifies the level of risk in the banking system. It is unfair to taxpayers, and also to bank customers and community banks. 

"Mr. President, in addition to regulating derivatives, we also need a strong, truly independent financial consumer protection agency to guard against rip-offs and abuses in mortgages, credit cards, payday loans, and other financial products.

"We also need to slam the door on any future taxpayer bailouts of so-called 'too big to fail' financial institutions.  No more AIGs or Citigroups.  When companies make huge bets and lose, we need an orderly process for liquidating those companies.  Period.

"To further improve the bill, I am a cosponsor of legislation offered by Senator Cantwell that would re-create the Great Depression-era regulation that prohibited the mixing of commercial banks, investment banks, and insurance companies. I am also a cosponsor of the SAFE Banking Act offered by Senators Brown and Kaufman that would limit the size of the largest institutions.

"In addition, I am supportive of legislation by Senators Merkley and Levin that blocks institutions that are insured by the FDIC from proprietary trading with their own funds.  We can't have high-risk gambling with the government standing as the backstop if there are large losses.  

"Mr. President, America has been through financial collapses and deep economic downturns before. In charting the way forward, we can learn important lessons from the financial crash of 1929 that led to the Great Depression.  FDR answered that crisis by implementing tough new regulations to stabilize the financial system, to rein in risk-taking and recklessness on Wall Street, and to make the economy work for ordinary Americans.  This led to decades of shared economic prosperity unprecedented in our nation's history. 

"That needs to be our model as we shape today's financial reform legislation.  Our aim should be a Wall Street that serves the interests of Main Street.  Our aim should be a financial system that makes possible a new era of economic stability and shared prosperity."
29 Apr 2010

i.network Returns for Second Year

By Kristin Glass

(QUAD CITIES) - The Network: Young Professionals of the Quad Cities, a program of the Illinois and Iowa QC Chambers of Commerce, will be hosting the i.network program in the Quad Cities for the second summer.

i.network is a program developed by young professionals for young professionals to showcase all the Quad Cities region has to offer beyond the four walls of the workplace. i.network targets young professional interns from all over the United States whom are interning in the Quad Cities during the summer months. The overall goal of the program is to retain young talent in the Quad Cities upon their graduation from college.

The i.network program has teamed up with the Illinois and Iowa QC Chambers and www.quadcitycareers.com to provide a newly enhanced summer program.  The program now includes information on how local companies can start an internship program, opportunities to recruit young talent from the Quad Cities and outside regions as well as affordable housing options for the interns during the summer.

For more information on the i.network program, starting an internship program, recruiting interns or housing options; visit www.quadcitycareers.com.

 

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29 Apr 2010

River Action's Summer Education Series - New Class: Yikes! What are Asian Carp?

By Kathy Wine
Asian Carp are a critical issue to the ecology of native species.  They have migrated from the Mississippi River to the Illinois River and now threaten Lake Michigan.  In the news on Mon, April 26, the state of Michigan's request to shut down major shipping locks in the Chicago area that may allow the fish to migrate into Lake Michigan was denied by the U.S. Supreme Court. Asian carp can grow as large as 4 feet long and weigh 100 pounds.   Kelly Baerwaldt of the Army Corps of Engineers will lead a Channel Cat Talk to teach people how to identify the species, explain why they are dangerous to native organisms, and discuss what is being done to prevent their spread.  Register for this June 1 & 3 talk [9-10:45 a.m.] at www.riveraction.org.

Registration for the Explore the River summer education series is online as of today.  Explore the River consists of Channel Cat Talks and Riverine
Walks that are fun and educational for all ages.  Sessions are held from Jun 1 - Aug 28.

Many other new, fun, and informative classes that are taught by professionals and historians will be held rain or shine and require preregistration. 

* Channel Cat Talks aboard the water taxi are from 9-10:45 a.m. Tuesdays and Thursdays; departing from Moline landing [2501 East River Drive] next to the Celebration Belle. Seating is limited and tours cost $12.

* Riverine Walks meet at various locations from 6:30-8 p.m. Wednesday evenings or 9-10:30 a.m. Saturday mornings and cost $5.  They are free for RA members - registration required.

To register or for more information, call (563) 322-2969; or visit www.riveraction.org. River Action Inc., the non-profit group dedicated to fostering the
environmental, economic and cultural vitality of the Mississippi and its riverfront in the Quad Cities
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29 Apr 2010

Grassley works to hold the SEC accountable

By Grassley Press

April 27, 2010

WASHINGTON - Senator Chuck Grassley has asked the Chairman of the Securities and Exchange Commission for more information about the agency's response to employees who used government computers to view pornography, noting that none of the employees identified by the Inspector General review was terminated, despite the Chairman's statement last Friday that termination would be the consequence for such violations.

Grassley also asked the Chairman to address claims made by an SEC employee that one of the employees was a supervisor received no more than a slap on the wrist.  The whistleblower employee said this same supervisor "bullied" examiners in an attempt to prevent them from pursuing "certain red flags" in an examination that uncovered a "massive fraud."  In his letter to the Chairman, Grassley said, "this complaint appears to allege a direct tie between a regulatory failure at the SEC and a supervisor who the SEC did not adequately discipline for viewing pornography on government computers and on government time."

Click here to read Grassley's letter to Chairman Mary L. Schapiro, along with the document containing allegations about the supervisor who was among the employees who engaged in misconduct.  Here is a copy of the letter Grassley received today from Inspector General David Kotz about the status of all the employees in question.

29 Apr 2010

Peaceful River adds life to McCausland's Main Street

By Rick Martin

The town of McCausland now has a one stop shop for all things original, handmade and antique.  Peaceful River Trading Company is celebrating their Grand Opening on Thursday, May 13th from 4:00pm - 8:00pm.  The ribbon cutting will be at 4:30pm and there will be plenty of refreshments and door prizes throughout the celebration.


"We've been creating our pieces and selling them at craft shows for years.  We thought it was time to truly showcase our pieces in a more relaxed and inviting atmosphere," expressed Sheila Bosworth, president of Peaceful River.  Bosworth has eight years of experience organizing craft shows and has been involved in other retail businesses.  She runs Peaceful River Trading Co. with business partner Kit Gleason, a retired Army veteran and travel consultant.  "This store has a little something for everyone and I look forward to growing a thriving business in McCausland."


In addition to the many unique and artistic pieces, Peaceful River Trading Co. also has a room dedicated to outdoorsmen, as well as items on consignment and exhibits of artwork and crafts from area artists.  "We would also like to host a variety of events for people in the area involving the artwork we feature and the items we can create", said Bosworth.  The store will also be selling flavored coffee and tea.  Peaceful River Trading Co. will be sponsoring a small farmer's market weekly on Thursdays from 4-6pm starting May 13th as well.  "We are hoping to provide a broad range of products for the people in northern Scott County in a fun environment," says Bosworth.


Peaceful River Trading Co. is open from 10 am- 5 pm Wednesday through Saturday and 11 am to 4 pm on Sundays.  It is located in the former McCausland Savings Bank Building at 302 North Salina Street.

29 Apr 2010

Braley Votes to Block Congressional Pay Raise

By Amanda Crawford

Washington, DC - (Apr 28, 2008) Rep. Bruce Braley (D-Iowa) today voted to block a Congressional pay raise that would take effect on January 1, 2011.  The bill, H.R. 5146, will block the annual cost-of-living adjustment for members' salaries, saving taxpayers about one million dollars.

"Our nation is on the road to recovery after an historic economic crisis," Braley said.  "As Americans work to get back on their feet, our job in Congress is to strengthen the middle class and create jobs."

Congress' action today continues the pay freeze already in place for 2010. The Senate passed identical legislation last week.

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29 Apr 2010

Local students honored with business scholarships

By Kamy Beattie

ROCK ISLAND, IL (04/27/2010)(readMedia)-- In conjunction with Augustana's 34th annual Business Day, the Augustana Business Department is proud to recognize more than 40 business administration and economics majors as recipients of endowed departmental scholarships this year.

Students from the local area who were awarded scholarships include :

Peter Wessels, a sophomore from Bettendorf who is majoring in business administration-advising and accounting. Wessels received the Thomas C. Montgomery Memorial Scholarship.

Alyssa Harmon, a junior from Moline who is majoring in business administration-advising. Harmon received the Harold and Louise Lage Swanson Scholarship.

Adelle DeVolder, a junior from Moline who is majoring in business administration-finance. DeVolder received the Harold and Louise Lage Swanson Scholarship.

Deanna Zwicker, a junior from Orion who is majoring in economics and business administration-finance. Zwicker received the Bruce R. Milligan Scholarship.

Adam DeSimone, a sophomore from Bettendorf who is majoring in economics. DeSimone received the Bruce R. Milligan Scholarship.

The students were honored at the opening breakfast for Business Day, an annual job-shadowing opportunity at Augustana that connects students with business leaders throughout the Quad Cities. In addition to their recognition at Business Day, the scholarship recipients will also be celebrated at an annual Honors ceremony in May.

The keynote address at the awards breakfast was given by Augustana alumna Piper Mead '04, a marketing account executive for the Chicago Cubs. Mead shared advice she learned on her way from Augustana to Wrigley Field and encouraged students to take advantage of all the hands-on learning opportunities Augustana has to offer them.

"I give Augustana all the credit for turning me into the person I am today. I think even the word 'business' scared me when I started college. However, my experiences at Augustana really gave me self-confidence. Now my outgoing personality is my biggest asset in my job."

After the conclusion of the ceremony, the scholarship recipients had the opportunity to further their education by spending a day "on the job" with business professionals throughout the Quad Cities. The students were able to select from a list of more than 40 local companies they could shadow and explore a field that matched their career interests.

The Business Department is one of the largest departments at Augustana, which includes 11 full-time faculty members and offers five separate major concentrations. 90 percent of students in the program complete internships as a part of their study, compared to only 75 percent nationwide. In addition to connecting students with local internships, the department also offers several national and international opportunities, including an accredited eight-week business internship program in Sydney, Australia. For more information on the Augustana Business Department, please visit www.augustana.edu/business.

About the Scholarships:

The Harold and Louise Lage Swanson Scholarship is an endowed scholarship for students who have demonstrated academic excellence and career potential in business administration.

The Thomas C. Montgomery Memorial Scholarship is an endowed scholarship for students who have demonstrated academic excellence and disciplined effort in pursuing careers in business administration or economics.

The Bruce R. Milligan Scholarship is an endowed scholarship for students who have demonstrated academic excellence and career potential in economics.

The Outstanding Senior Business Administration Major Award is a scholarship awarded to a select number of senior students based on their exceptional academic achievements and career potential in business administration.

The Tallgrass Capital Award is a scholarship awarded to one senior economics major each year based on his or her outstanding academic performance and career potential in economics.

About Augustana: Founded in 1860 and situated on a 115-acre campus near the Mississippi River, Augustana College is a private, liberal arts institution affiliated with the Evangelical Lutheran Church in America (ELCA). The college enrolls nearly 2,500 students from diverse geographic, social, ethnic and religious backgrounds and offers more than 70 majors and related areas of study. Augustana employs 287 faculty and has a student-faculty ratio of 11:1. Augustana continues to do what it has always done: challenge and prepare students for lives of leadership and service in our complex, ever-changing world.

29 Apr 2010

Rivermont Collegiate Open House

By Tammi Burrell

Foreign language beginning in Kindergarten.  Highest availability of Advanced Placement classes in the state of Iowa.  100% graduate acceptance to four-year colleges and universities.  Extraordinary things happen at Rivermont Collegiate!  Explore our school during our open house this week!  On Thursday, April 29th from 6:00-8:00 p.m., families are invited to drop in for tours of campus, one-on-one discussion, and answers to their questions about Rivermont.  This casual event is designed to introduce local families to the Quad Cities' only private, nonsectarian, independent college prep school.  Rivermont Collegiate, located in Bettendorf, provides students with a comprehensive education in a safe, family-like learning environment.

From PreSchool through twelfth grade, Rivermont students develop a joy for learning, lead peers in community involvement, and take intellectual and artistic risks.  Drop in to learn more about our philosophy, values, and programs!  Cindy Murray, Director of Admissions, will be on hand to answer questions.  The Rivermont campus is located directly off 18th street in Bettendorf behind K&K Hardware.  Visit us online at www.rivermontcollegiate.org!  This event is free and open to the public.

For additional information on Rivermont Collegiate or Thursday's Open House, contact Cindy Murray at (563) 359-1366 ext. 302 or murray@rvmt.org.

 

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27 Apr 2010

Local schools join to help bring clean water to Kenya

By Linda Golden

The Thurgood Marshall Learning Center Green Team and the Rock Island High School Studen Council are partnering in a project to bring clean water and toilets to Goitab Kalyet Primary School int he Great Rift Valley of Kenya.  The partnership is sponsored by Water for Live Foundation to make an impact on the 1.1 billion people that lack access to safe drinking water around the globe.

The two groups of students will be holding a joint Walk for Water on Saturday, May 1 at the Rock Island High School stadium from 11am until Noon. Students with sponsors will be walking three miles to represent the average walk that young girls and women make each day in the developing world to carry water to their families.  The students are hoping to reduce the 1.4 million deaths that occur yearly due to diarrhea.

Anyone withing to participate or sponsor a walker can contact Linda Golden at 309-793-5924 or Sheila Guse at 309-793-5950.

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