Schiff aims to help small businesses

July 29, 2010|By Bill Kisliuk,

With small business still the missing link in the slow-and-go economic recovery, Rep. Adam Schiff (D-Burbank) is bringing together numerous government agencies and business groups for a daylong Small Business Assistance and Career Opportunity Fair on Aug. 11 at the Pasadena Convention Center.

Among those scheduled to have a presence are the Small Business Administration, which will send representatives to go over strategies for struggling small businesses and women business owners; the Internal Revenue Service; the Department of Commerce's Minority Business Development Agency; and the Department of Veterans Affairs.

The California Employment Development Department and local Workforce Investment Boards will have representatives there to talk about unemployment benefits and employment training programs, respectively. Several local chambers of commerce will participate, as will the Valley Economic Development Center.


"Far too many people throughout our community are still seeking access to business opportunities and employment, and I hope this business development and career fair will help them discover new resources to succeed," Schiff said in a statement. "The career fair will provide an opportunity for people to network and find additional ways to gain employment or build their businesses, even in a challenging economy."

For more information, call Schiff's Pasadena office at (626) 304-2727.


Firm says utility needs to raise rates

Earlier this month, Glendale Water & Power learned it may have to raise its rates. The reason? A report from New York-based financial firm called Fitch Ratings Ltd., one of several that estimate and then rate the financial health of government agencies and companies that have issued bonds to support their operations.

Fitch noted the utility's water revenues are down, which means it has less cash to pay off its bonds, which prompted Fitch to ratchet down Glendale Water & Power's credit-worthiness from "stable" to "negative." That means the utility will pay higher interest rates if it borrows again in the near future.

For Glendale Water & Power, the question is whether to raise rates on users now or gird for what likely would be a heftier rate increase if and when it borrows again. Glendale officials are still mulling the options.

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