Conventions boost economies in host cities
Perryman notes political conventions act as economic catalysts, with Denver and Minneapolis attracting up to 90 000 people and boosting local economies by about 400 million dollars. Networks spend around 6 million dollars each, conventions require roughly 40 million to stage, and federal security funding is about 50 million. About 2,800 jobs were created for the GOP setup, with a similar figure for the Democrats. Tourism and education sectors stand to gain beyond the event window.
MENTIONED IN THIS ARTICLE
Barack Obama
John McCain
Denver
Minneapolis-St. Paul
Minnesota
Colorado
North America
Starbucks executives forego raises in cost cutting drive
Seattle based Starbucks Corp will not give salary increases to Chairman and CEO Howard Schultz and other executives in the coming fiscal year. all vice presidents and above in the United States will not receive raises as part of the cost cutting. The memo notes targets for general management incentive plan payouts may also be unlikely to be met.
MENTIONED IN THIS ARTICLE
Howard Schultz
Starbucks Corp
Ing
U.S
FHA Raises Mortgage Insurance Fee To 1.75 Percent
The Federal Housing Administration will lift its mortgage insurance fee to 1.75 percent for new and refinanced government insured loans effective October 1. A $200,000 loan would incur a $3,500 fee, up from $3,000, as FHA shifts away from risk-based pricing amid growing share of refinanced and new loans.
MENTIONED IN THIS ARTICLE
Washington
Federal Housing Administration
Government
Inside Mortgage Finance
FHA
Democrats
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