Tuesday, April 15, 2008

Notes from Central Ohio

> Why are Republicans in the Ohio legislature trying to push through an energy bill that will only give Ohioans higher utility bills? Ohio Gov. Ted Strickland has promised a veto if "...the bill does not protect consumers against unwarranted and unjust rate increases." (Dispatch)

> There have been few published reports about Republican congressional candidate, Steve Stivers, a former bank lobbyist. It makes you wonder if he is staying out of the public eye to avoid questions like ----
a.) Why does Stivers support having no cap on interest rates at payday lenders?
b.) Why does he continue to court and meet with lobbyists associated with banks (OBL: #1, #2) ?

> According to the NY Times, some of our most familiar retailers are going bankrupt or suffering from the recession:

....Since last fall, eight mostly midsize chains — as diverse as the furniture store Levitz and the electronics seller Sharper Image — have filed for bankruptcy protection as they staggered under mounting debt and declining sales.

But the troubles are quickly spreading to bigger national companies, like Linens ‘n Things, the bedding and furniture retailer with 500 stores in 47 states. It may file for bankruptcy as early as this week, according to people briefed on the matter.

Even retailers that can avoid bankruptcy are shutting down stores to preserve cash through what could be a long economic downturn. Over the next year, Foot Locker said it would close 140 stores, Ann Taylor will start to shutter 117, and the jeweler Zales will close 100.....

How will this impact central Ohio?