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Business/Economy

  • Gas Prices Tumble Ahead of Summer Driving Season
  • Moody's Cuts Credit Ratings on 15 Major Banks

    Moody's Investors Service lowered the credit ratings of 15 of the world's largest banks late Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking.

  • Home Sales Drop As Mortgages Hit All-time Low
  • Bye-bye Best Western, hello Hilltop House Hotel

    The Best Western and the Hilltop House Hotel are parting ways.

    This week, the hotel on the corner of Trinity Drive and Central Avenue is changing its name to the Hilltop House Hotel and Conference Center.

    A Best Western spokeswoman at its Phoenix headquarters said, “They are no longer members of the Best Western family.”

    When asked why, she said, “You will have to talk to local management of the Los Alamos hotel.”

    When asked if other hotels have split from Best Western, she replied, “I don’t know.”

    Then she was asked if member hotels have general guidelines they have to follow and she said, “generally speaking yes.”

  • PERA considering cuts to state pension benefits

    SANTA FE, N.M. (AP) — The Public Employees Retirement Association of New Mexico is considering making cuts in future retirement benefits for more than 54,000 government workers.

    The Albuquerque Journal reports PERA officials are considering the proposal because of growing concerns about the pension fund's solvency.

    Possible reductions include altering the formula that determines the starting amount of a retiree's pension benefits and lowering the annual cost-of-living adjustment.

  • County launches tourism initiative

    Los Alamos County is launching an online marketing effort to better educate local tourism industry employees about the city “where discoveries are made.” Subsequently, the county officials hope knowledgeable employees will incite a desire in visitors to discover even more about Los Alamos’ history and attractions, while dispelling any misnomers they may have with facts.

  • Business community to weigh in on economic development

    At this Tuesday's work session, Economic Vitality Administrator Greg Fisher presents council with a range of options for economic development.  Although no action will be taken, staff will look to council for guidance on where to focus the county's limited resources.

    As part of his preparation, Fisher presented his preliminary report to the county's Economic Vitality Action Team (EVAT) for feedback. EVAT advises the county administrator on implementation of the Economic Vitality Strategic Plan (EVSP). The EVAT team met last week, as did the Los Alamos Commerce and Development Corporation's (LACDC) MainStreet Futures committee. Both discussed priorities for council to consider during its deliberations.

  • Fed Reports How Much Recession Shrank US Wealth
  • 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.