State Legislators agree on 1 billion in cuts by Ken Mahoney

STATE LEGISLATORS AGREE ON $1 BILLION IN CUTS

New York Senators and Assembly representatives convened in emergency session yesterday to hash out a plan to begin controlling the state’s growing budget deficit. Governor David Paterson last month announced he would call lawmakers back to Albany during a public address used to warn residents of the imminent budget crisis. At that time he projected a three-year deficit of $26.2 billion. New York’s debt at the end of this fiscal year is expected to exceed $52 billion.

RBA's next general membership meeting by Ken Mahoney

General Membership Luncheon

Taking the business lunch to the next level, join your fellow RBA members for this key informational and networking event. Mingle with new and old members and get up-to-date on all things RBA.

This month, Tom Suozzi, Nassau County Executive and Chair of Governor's Property Tax Commission will be our speaker.

Wednesday, September 3rd 11:30 am - 1:30 pm Rockland Country Club, 380 Route 9W, Sparkill, NY

Members $40 paid in advance; $45 at the door Non-Members $50 Reservations Required

Sponsored By

CPI Index rises more than expected by Ken Mahoney

Core CPI... HIGHER than expected! Consumer price index rose 0.8% in July, led by gains in food, energy, apparel and airline fares. This is on the heels of June's 1.1% rise, which was the second largest since June 1982. Excluding food and energy, the CPI advanced 0.3, which means the y/y is 2.5%.

EQUALIZATION RATE MAY BRING RELIEF TO NORTH ROCKLAND's businesesses by Ken Mahoney

EQUALIZATION RATE MAY BRING RELIEF TO NORTH ROCKLAND

Some “tentatively” good tax-related news may be coming to North Rockland homeowners and businesses. Stony Point and North Rockland School board member Stephen Cole-Hatchard says the state’s Office of Real Property Services has finalized equalization rates that could significantly reduce school taxes. According to initial calculations, the decrease could be as much as 4% for homeowners and 13% for businesses and commercial properties.

Unfortunately, the impact of the reduction may be diluted with Mirant’s attempt to reduce the assessed value of its Lovett property. Something Cole-Hatchard sees as a good reason to keep budget cuts a top priority.

BOSCOV’S FILES FOR CHAPTER 11 by Ken Mahoney

BOSCOV’S FILES FOR CHAPTER 11

Former Nanuet Mall tenant Boscov’s has filed for Chapter 11 bankruptcy protection. The department store chain is for sale, recording $538 million in assets and $479 million in liabilities as of May 3rd. With 49 locations in Pennsylvania, Delaware, Maryland, New Jersey, New York and Virginia, the Reading- based family owned company employs about 9500 people. It’s total annual sales for the last fiscal year ending February 2nd came in at one and a quarter billion. Boscov’s Vice President Michael Hughes hopes to steer out of bankruptcy by the first quarter of next year. Bank of American is lending Boscov’s $250 million to keep it operating and Lehman Brothers has been hired to find new capital.

Rockland Stock Index up nearly 3% today, By Ken Mahoney

Click here: Rockland Business Digest http://studio-5.financialcontent.com/rocklandbusiness?Page=QUOTE&Ticker=$ROCKLAND

HILLCREST GAS STATION OFFERS E85 Gas by Ken Mahoney

HILLCREST GAS STATION OFFERS E85 Gas

A Hillcrest gas station is the first in Rockland to be pumping E85. The Route 45 Sunoco is charging $3.39 for the formula, which is 85% ethanol and 15% gasoline. While the station’s not yet selling very much E85, its owners are hoping regular gas prices will prompt more and more people to buy cars that run on higher ethanol concentrations. The station is also preparing to offer biodiesel, generated completely from fats or oils.

Blood drive at WRCR, by Ken Mahoney

NYBC DECLARES BLOOD EMERGENCY

The New York Blood Center has declared a blood emergency. Supplies are almost below the three-day safety mark due to what the agency is referring to as the “summer ’08 triple threat.” High demand, high gas prices and high temperatures converging on the region have resulted in poor donor turnout. Each day, New York Blood Center must collect 2,000 units of blood to treat patients at Westchester Medical Center, Nyack and other area hospitals. If you can host a blood drive, contact the New York Blood Center at 1-800-933-Blood.

Donors are invited to join WRCR in the next station-sponsored drive coming up 9AM to 7:30PM Thursday, August 14th just next door to WRCR’s Nanuet Mall studios.

Crusin for Kids this weekend by Ken Mahoney

Free admission - Sunday AUG 3rd is our 7th annual Cruisin' for Kids Benefit 2008 at North Rockland High School in Thiells, NY near Stony Point, Rockland County 9am - 4pm.

This is a large car, bike and truck judged show with - 35 food and product vendors. All the proceeds are donated to 3 families with sick children. Two children have Cerebral Palsy and one has Pilaster Killen Mosaic Syndrome.

We appreciate your help.

http://holtononline.com/topsdown/carshows/august.html