Friday, May 24 2013 9:54 PM EDT2013-05-25 01:54:42 GMT
An Au Sable Forks, New York theater is one of ten in the North Country doing what it can to stay open. "We'll be dark. There will be no movies shown in these theaters and you'll have toMore >>
After being denied a state grant, a number of North Country theaters could go dark by the end of the year. That's because Hollywood is getting rid of film movies, which is what those theaters rely on. But they're not giving up yet.More >>
Friday, May 24 2013 8:51 PM EDT2013-05-25 00:51:11 GMT
A couple has lost their home to floods twice in just three years. Last night's storm washed out a road in Underhill, and nearly everything in its path. Governor Shumlin was at the site of the hardestMore >>
A couple has lost their home to floods twice in just three years. Last night's storm washed out a road in Underhill, and nearly everything in its path.More >>
Friday, May 24 2013 7:25 PM EDT2013-05-24 23:25:36 GMT
Beansie's Bus is situated right along the start and finish of the race so they're looking to get swamped by hungry customers Sunday but rain too. "Unfortunately the weather might not cooperate," Beansie'sMore >>
VCM organizers making sure they have cold/rainy weather equipment for runners.More >>
Friday, May 24 2013 6:21 PM EDT2013-05-24 22:21:38 GMT
Damaged homes, washed out roads, and now major clean-up.In just a few hours heavy rains flooded much of Northern Vermont. Hardest hit were Essex, Jericho, and Underhill.The torrential rains Thursday nightMore >>
Damaged homes, washed out roads, and now major clean-up.More >>
Friday, May 24 2013 2:15 PM EDT2013-05-24 18:15:28 GMT
The Vermont Agency of Transportation released a list of road closures and times for the Vermont City Marathon. A press release says that if possible, motorists should avoid downtown Burlington on Sunday,More >>
The Vermont Agency of Transportation released a list of road closures and times for the Vermont City Marathon.More >>
Friday, May 24 2013 1:07 PM EDT2013-05-24 17:07:11 GMT
The Thunder Road Memorial Classic has been postponed until Monday. Officials say they are postponing due to the upcoming inclement weather expected this weekend. Here's the updated schedule of events:7:30amMore >>
The Thunder Road Memorial Classic has been postponed until Monday.More >>
Friday, May 24 2013 12:26 PM EDT2013-05-24 16:26:27 GMT
The Essex Memorial Day Parade has been canceled due to inclement weather predictions. According to Essex Memorial Day Parade Committee, the parade has been postponed one week to Saturday June 1 at 10 a.m.More >>
The Essex Memorial Day Parade has been postponed due to inclement weather predictions.More >>
Friday, May 24 2013 11:31 AM EDT2013-05-24 15:31:32 GMT
The Burlington Police Department arrested two people for pick-pocketing two men at a local night club in Burlington, Vt. on Friday, May 17.Police say Stephanie Rivers, 24, and Victoria Hammond, 23, bothMore >>
The Burlington Police Department arrested two people for pick-pocketing two men at a local night club in Burlington, Vt. on Friday, May 17.More >>
Friday, May 24 2013 10:29 AM EDT2013-05-24 14:29:26 GMT
If the prices at the pump are giving you second thoughts about traveling this holiday weekend, these suggestions might help. The New York State Energy Research and Development Authority has some recommendationsMore >>
If the prices at the pump are giving you second thoughts about traveling this holiday weekend, these suggestions might help.More >>
Friday, May 24 2013 8:52 AM EDT2013-05-24 12:52:16 GMT
A Windham County man cashes in a lucky lottery ticket. Frederick Randall matched 4 out of 5 numbers plus the power ball for the April 5th drawing.He would have won $10,000, but he played an extra buckMore >>
A Windham County man cashes in a lucky lottery ticket.More >>
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SOURCE Loans Org, LLC
LOS ANGELES, March 14, 2013 /PRNewswire/ -- The last increase in the federal minimum wage was in July 2009, raising the rate to a meager $7.25 per hour.
Over three years have passed - nothing has changed.
But would a $1.75 increase really impact the national economy in a negative way, as feared?
In an exclusive interview with loans.org, Steven Raz, co-founder and managing partner of Cornerstone Search Group, said that an increase could be the final straw in a long list of hits against small businesses.
"It's going to do the opposite of what is intended. I think this could be a job killer for a lot of businesses that hire at that level," he said.
Raz said that the economic tailspin, Obamacare and the growing national deficit are hitting businesses hard.
"Anyone pushing a minimum wage increase knows that could have a potentially negative effect," he said to loans.org. "I'm hoping it's not going to be the perfect storm."
One fear resounding after Obama's speech is that of job elimination. If businesses are forced to pay their minimum wage workers more, then they will have less funding and be forced to employ less workers for fewer hours.
Rohit Arora, CEO of Biz2Credit, said retail companies with large forces of minimum wage workers will likely have to reduce employee's hours to less than 30 hours per week to balance out the increase.
Arora told loans.org that the potential increase will hurt employees in the long run due to a loss of jobs.
"Increasing the minimum wage makes some politicians feel good, but if they really want to help people, the government should support measures to retrain workers and give them marketable skills in the twentieth century economy," he said.
But two reports disagree.
The first report by the Economic Policy Institute (EPI), found that increasing the federal minimum wage would not cause job loss, but rather a proposed increase to $10.10 per hour would generate about 140,000 new jobs.
The second study by the Federal Reserve Bank of Chicago found that increases in the minimum wage rate positively affects consumer spending because consumer debt, especially for new loans, rose after a minimum wage increase. Retailers in the consumer goods, electronics, automobile and home appliance sectors could see a sizable increase in business if the proposal is passed.
Additional articles, interviews, news and frequently asked questions about the business finance industry are available at http://loans.org/business.
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loans.org is a leading lending authority website that covers financial news, produces informative articles, and answers frequently asked questions. In addition to providing lending-related information, loans.org also hosts a variety of free online application forms for prospective borrowers to use when applying for loans.