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Business/Economy

  • Youth business gets lift

    Few opportunities are available for young people to explore a career in business. The Los Alamos Commerce and Development Corporation has taken steps to recognize young entrepreneurs and lend a hand in getting an early start through its Youth Business Grant Program (YBGP).

    Since 1985, the program has awarded more than 240 grants to students in the age range of 13 - 19 hoping to launch summer businesses.

  • Largest homeless shelter in NM has to expand due to economy

    ALBUQUERQUE, N.M. (AP) — The largest emergency shelter in New Mexico, already at capacity every night, is set to expand.

    The Albuquerque-based Joy Junction is scheduled to announce Wednesday plans on building a new dormitory, chapel and women's center.

    The move comes as Joy Junction founder and CEO Jeremy Reynolds says the homeless crisis in the state is the worst he's seen in decades due to the economy.

  • ‘Creative urban village’ sparks local interest

    When the county council approved the Creative District Plan in April, Los Alamos MainStreet and the Los Alamos Commerce and Development Corporation (LACDC) were ready to get started.

    The organization sought out developers who could help make the concept a reality and discovered PLACE, a nonprofit organization that specializes in developing “creative urban villages.”

    “This is not just something coming out of the blue, someone saying, ‘Have I got something for you.’ This is a very specific strategy expressed in the Creative District Plan. This is something MainStreet sought out. We’ve done some due diligence,” said LACDC Executive Director Kevin Holsapple.

  • Obamacare rate hikes to hit UNM students

    ALBUQUERQUE, N.M. (AP) — University of New Mexico students will likely see a rise in the cost of school-sponsored health insurance.

    The Albuquerque Journal reports a regents finance committee approved a 22 percent increase in insurance costs Thursday.

    The proposal would raise premiums from $300 to nearly $1,700 annually starting next year.

    About 2,000 students, including student employees such as graduate assistants, are covered by the school insurance program.

  • Selloff Erases Dow Gains for 2012
  • US economy added 69K jobs in May, jobless rate up--Video Extra

    WASHINGTON (AP) — The U.S. economy looks a lot weaker.

    U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up.

    The dismal jobs data will fan fears that the economy is sputtering. It could also damage President Barack Obama's re-election prospects. And it could lead the Federal Reserve to take further steps to help the economy.

  • Dixie Girl set to debut

    According to her blog devoted to the new restaurant “Dixie Girl,” business owner Denise Lane expects to open during Chamber Fest weekend, which will be June 8-9.

  • Shamrock Station Update

    In other Smith’s news, all the permits are signed to begin work on converting the former Shamrock Station property into a Smith’s Fuel Center. Steve Sorenson, vice president for corporate development, told the Los Alamos Monitor the project would go to bid in two weeks.
    The Shamrock station will be demolished, and construction is expected to begin sometime in late July or early August. Sorenson anticipates the new station will be open by mid-October.

  • JPMorgan Chase Acknowledges $2B Trading Loss

    JPMorgan Chase, the largest bank in the United States, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

  • US hiring slows sharply with just 115K jobs added

    WASHINGTON (AP) — The unemployment rate dropped to 8.1 percent last month from 8.2 percent in March. It has fallen a full percentage point since August to a three-year low. But last month's decline was not due to job growth. The government only counts people as unemployed if they are actively looking for work.