Morning Economic News

Morning Must Reads: Hard Bargaining in Philadelphia and Regulation

Talk about hard bargaining. The Philadelphia School District's New Year offer in negotiations over a new contract for support staff includes layoff notices to all of the bus drivers and janitors the school district now employs unless the union agrees to $16 million in wage concessions. You, the bus drivers and janitors all remember this is the same district that offered up a CEO style golden parachute of nearly $1 million to former Superintendent Arlene Ackerman.

Morning Must Reads: Minimum Wage Moving Higher in Ohio and Happy Holidays

Mixed in with this morning's news of holiday surprise layoff notices and property tax hikes is some good news for low-wage workers in Ohio where the minimum wage will rise to $7.70 on Jan 1.

Morning Must Reads: Home Sales Data

The Philadelphia Inquirer reports this morning on the release of new data on home sales by the National Association of Realtors which shows the association has been overstating home sales since 2007.

Morning Must Reads: Jobs, Budgets and Local Taxes

If you haven't heard by now, a temporary two-month extension of the federal payroll tax cut and emergency unemployment benefits passed by the U.S. Senate was scuttled by the U.S. House on Tuesday. With the failure to extend both measures expected to slow the already tepid pace of economic growth, it is hard to imagine the House will not reconsider its position in the 11 days remaining before the current extensions expire.

Morning Must Reads: Perfectly Legal Forms of Wage Theft and Build Baby Build!

When you tip your server at a restaurant, you probably assume that all of that money goes to the server. If you use a credit card to pay, you would be wrong. 

It is very common for restaurant owners to use a portion of those tips to pay credit card processing fees.

The Philadelphia Daily News reports this morning that Philadelphia City Council has passed a law that stops restaurant owners from stealing from servers in this way. 

Third and State This Week: No Marcellus Shale Fee in 2011, Extended Unemployment at Risk and PA gets a D

This week, we blogged about a new report on economic development subsidies in Pennsylvania, the economic harm that ending extended unemployment insurance for 281,000 jobless Pennsylvanians will have, and the latest on the debate over enacting a Marcellus Shale drilling fee.

IN CASE YOU MISSED IT

  • On economic development, Chris Lilienthal shared the results of a national study by Good Jobs First that ranked the 50 states' economic development subsidy programs based on job creation requirements and wage standards for workers at subsidized companies. Pennsylvania came in 40th.  
  • On the Marcellus Shale, Michael Wood blogged about 2011 ending as the last two years have — without a Marcellus Shale drilling tax or fee for Pennsylvania.
  • On unemployment, Sean Brandon laid out the facts supporting the extension of emergency federal unemployment insurance. With the average duration of joblessness among Americans at an all-time high, now is not the time for Congress to turn its backs on the unemployed. 
  • In the Morning Must Reads, Mark Price highlighted news stories discussing the safety issues of Marcellus drilling and the foreclosure crisis in the midstate

More blog posts next week. Keep us bookmarked and join the conversation!

Morning Must Reads: Marcellus Shale Gas Pipes and Leases

This morning, The Philadelphia Inquirer published the second in a four-part series on safety issues surrounding natural gas pipelines.

Morning Must Reads: A Foreclosure Crisis In Homes Near You

The Harrisburg Patriot News ran a story on Sunday carefully detailing the extent of the foreclosure crisis here in the midstate; it is well worth a read.

Nationally, about 8 percent of homeowners are delinquent, not counting people already in foreclosure.

Morning Must Reads: The Banks Defrauded Your Local Government and Oppose a New Financial Industry Watch Dog: Coincidence?

The Philadelphia Inquirer this morning reports that Wells Fargo has settled charges that it rigged bids on bond auctions affecting 150 Pennsylvania municipalities and agencies.

Morning Must Reads: The Economic Development Ghosts of Christmas Past, Present and Future

ScroogeIn the holiday spirit this morning, I decided to go with a Charles Dickens theme. What follows are three stories in order which I would characterize as the Ghost of Christmas Past (north Kensington, Philadelphia), the Ghost of Christmas Present (Carlisle Borough) and the Ghost of Christmas Future (Charlotte, North Carolina).

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