Economics
Do the guv’s corporate ties conflict with the president-elect’s platform?
The federal agency that Gov. Bill Richardson will take over as U.S. Commerce Secretary is a gargantuan “bureaucratic fiefdom” that includes agencies as diverse as the U.S. Census to the National Weather Service and the Patent and Trademark Office.
But the secretary’s main mission is to act as the chief cheerleader for U.S. business, both at [...]
Party like it’s 4:59 a.m.!! D.C. votes to let bars stay open late for inauguration week
From today’s Washington Times:
Hoping to tap in to an inaugural bonanza, the D.C. Council Tuesday night voted 12-1 to push back last call to 5 a.m. and allow bars and restaurants to serve food around the clock during inauguration week.
Millions of visitors are expected to descend on the city to celebrate Barack Obama’s presidential swearing-in [...]
Richardson pick for U.S. Commerce Department nod isn’t ‘consolation prize’ for Latinos, Obama insisted
It may have been the only sour note in Wednesday’s press conference announcing Gov. Bill Richardson as President-elect Barack Obama’s U.S. commerce secretary nominee.
Does Richardson’s nomination as commerce secretary amount to a “consolation prize” for the nation’s Latinos and Hispanics, a reporter asked.
“It seems many were expecting, hoping that Bill Richardson was going to be [...]
Bill Richardson to New Mexico: ‘I will never forget you’
This morning’s news conference formalized what has been known for weeks: Richardson is leaving his job as governor of New Mexico with two years left in his term, meaning Lt. Gov. Diane Denish will become governor. In a news release that followed the news conference, Richardson provided additional details on the transition to the Denish administration.
Commerce post will test Richardson’s free-trade reputation
When the news that Bill Richardson would be named Commerce Secretary came out, political pundits immediately starting characterizing it as a “demotion.” His impressive resume was referenced as proof that such a gig just isn’t good enough. An angered Latino punditry claimed that the Latino community was being slighted by Obama’s cabinet choices, compounded by the delay in announcing Richardson for the Commerce gig.
Weighing the pros (and cons) of the sparkly green economy
Your grandmother was right — there is no such thing as a free lunch. Belief in this core principle unites all economists, from conservative Walter Williams to liberal Paul Krugman. It’s a principle (feel free to call it “opportunity cost” while sipping eggnog at your next holiday gathering) that says when you choose to invest a resource in a certain way, you are giving up the value of the next best alternative.
Cities and counties rush to get state money with 600 invoices last month alone
New Mexico’s looming financial crisis has accomplished something that all manner of goading by state officials hasn’t over the years: A flood of invoices from cities and counties, some as old as two years, for brick-and-mortar projects in their communities.
The reason is simple. With New Mexico’s worsening financial situation –- some estimates predict a $500 [...]
$8.5 trillion makes it a ‘Great Recession’ instead of a Great Depression
The total infusion of federal money to rescue our economy so far totals more than the annual gross domestic product of every national economy in the world except the United States, the European Union and China. According to the New Mexico Business Weekly, it’s about $8.5 trillion:
Federal bailouts, equity buys into banks and investment houses, [...]
New Mexico Food Gap Task Force invades the ‘food desert’
The New Mexico Food Gap Task Force is expected to submit its first report to Gov. Bill Richardson today. The panel’s members want the state to pay for fresh fruits and veggies in schools, and to help rural communities gain access to fresh foods. But with state revenues plummeting, will they be able to wrangle the cash?
N.M. puts federal road and bridge money on its holiday wish list
New Mexico transportation officials are quietly hoping Congress quickly passes a federal economic stimulus plan that includes billions for road and bridge construction.
If that happens, the state could see north of $100 million in much-needed funds for roads and bridges, depending on the size of the bill, state Transportation Secretary Rhonda Faught said Tuesday.