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Business/Economy

  • What's Exactly in 'fiscal Cliff' Plan
  • House won't vote before midnight on 'cliff' deal

    WASHINGTON (AP) — The House will miss the midnight Monday deadline lawmakers set for voting to avoid the "fiscal cliff."

    House Republicans notified lawmakers that the chamber will vote Monday evening on other bills. They say that will be their only votes of the day.

    President Barack Obama and Senate Republican leader Mitch McConnell said Monday they are near a deal to avoid wide-ranging tax increases and spending cuts — the fiscal cliff — that take effect with the new year.

    Both men said they were still bargaining over whether — and how — to avoid $109 billion in cuts to defense and domestic programs that take effect on Wednesday.

  • Stores look to week after Christmas for sales

    Bargain-hungry Americans will need to go on a post-Christmas spending binge to salvage this holiday shopping season.

    Despite the huge discounts and other incentives that stores offered leading up to Christmas, U.S. holiday sales so far this year have been the weakest since 2008, when the nation was in a deep recession.

    So stores now are depending on the days after Christmas to make up lost ground: The final week of December can account for about 15 percent of the month's sales, and the day after Christmas is typically one of the biggest shopping days of the year.

    Stores, which don't typically talk about their plans for sales and other promotions during the season, are known for offering discounts of up to 70 percent after the holiday. This year, they're hoping to lure more bargain hunters who held off on shopping because they wanted to get the best deals of the season.

  • Gas prices on the decline

    Just in time for the holidays, some local gas stations in Los Alamos are charging less than $3 per gallon.

  • Holsapple to step down

    Kevin Holsapple has made the decision to step down as executive director of the Los Alamos Commerce and Development Corporation/Chamber of Commerce.

    Holsapple notified chamber staff of his decision this afternoon.

    Holsapple, who has been the executive director for the past 15 years, plans to relinquish the helm in April.

    “I am looking to step back and get down to a lesser-than-full-time activity so I can get some other projects done,” Holsapple said. “I turned 55 this year and I am looking to shift gears a bit. This is the last phase of work life.

    “I am going to continue to work, but just on a part-time basis. I have not resigned or quit or anything like that. I am just drawing back on the amount of time and effort I put into this job.”

    The LACDC Executive Committee has begun preparing a search for Holsapple’s replacement.

    A memo from the executive committee to the full board last week stated, “Kevin has made the decision to pursue other career ambitions with his wife while they are still young enough to do so. While we value his service to the chamber and the community, we understand and respect his decision.”

  • Small Business Saturday

    David Jolly from Metzger’s Do It Best presents a check for $669.59 to Kristy Ortega, with the United Way. Metzger’s participated in the Small Business Saturday, which donated a percentage of sales to the United Way.

  • Credit union kicks in for Kiwanis

    Ann Hayes of the Kiwanis Club of Los Alamos accepts a large monetary donation from Del Norte Credit Union board member Roger Stutz to support the Breakfast with Santa. The event raises money for the Kiwanis Foster Kids Dinner and all food donated is distributed to LA Cares.

  • Highlights of White House, GOP budget plans

    The Obama administration and House Republicans have unveiled their opening offers in talks to avoid the so-called fiscal cliff. Details are scant but the White House estimates its plan would carve $4.4 trillion from the deficit over the coming decade, including previously enacted cuts ($1 trillion) and savings from reduced costs for overseas military operations ($800 billion), as well as interest payments on the national debt ($600 billion).

    House Republicans say their plan would cut deficits by $2.2 trillion over 10 years, but they don't claim previous cuts, war savings or interest costs toward that total. Both plans would block automatic spending cuts set to hit the economy in January and renew Bush-era tax cuts set to expire at the end of the month.

    The two plans both draw upon ideas from 2011 talks between President Obama and House Speaker John Boehner, including a secret plan by top Obama aide Rob Nabors that was made public by author and Washington Post writer Bob Woodward.

    Here are the highlights of all three approaches:

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  • Nearly $500M available for capital projects in NM

    SANTA FE, N.M. (AP) — State economists estimate nearly $500 million is available to finance capital improvement projects across New Mexico.

    The Legislative Finance Committee was told Monday the state can issue bonds backed by severance taxes to provide about $222 million for new capital projects, which will be determined by the Legislature and Gov. Susana Martinez next year when lawmakers meet in a 60-day legislative session.

    State law earmarks about $175 million in bond financing for public school improvements and $33 million must go for water projects.

    Nearly $34 million of available financing must be used for tribal infrastructure and capital improvements in colonias, which are poor communities usually near the border with Mexico.

    The governor vetoed some capital projects earlier this year, complaining that lawmakers don't focus enough on statewide priorities.

  • Small Business Saturday benefits United Way

    Andy Fox presents the United Way’s Kristy Ortega with a check for $2,025.61 Saturday. C.B. Fox broke the single-day sales record that day in its 32-year-history.