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Kansas City-based Alternative Energy Sources Inc. said today it plans to construct a third ethanol plant, though it continues to seek construction financing for all of the facilities. Alternative Energy said it has taken an option on 100 acres at a business park in Greenville, Ill., which is 45 miles east of St. Louis. The site is served by the Illinois Western Railroad on tracks adjacent to the acreage. It also has easy access to the interstate highway system. Alternative Energy's announcement said construction on this third plant would begin within the next year, with the plant in operation in late 2008. Like two others the company announced, the Greenville plant would produce about 110 million gallons of ethanol a year. This is the third site on which Alternative Energy has acquired an option with plans to build an ethanol plant.
The Small Business Administration recently took what the surety bond industry believes is an important step to reinvigorate the government's Surety Bond Guarantee Program. SBA is proposing rules intended to make participation in the program more attractive to sureties for the benefit of small contractors needing access to surety bonds to bid on public construction projects, according to a group of surety and insurance trade associations. .
Economist Andrew Tilton of Goldman Sachs Group Inc. in New York has estimated some of the international effects of a U.S. slowdown. In a study sent to clients Oct. 6, Tilton said Japan and the euro area would probably be little affected by a decline in U.S. growth to an annual rate of 2 percent to 2.5 percent in the second half of this year, and continuing through 2007. Key Factors Crucial in both cases is the large size of the economies and ``a relatively low share of exports directed to the United States,'' Tilton said. ``China has a relatively tougher challenge,'' he said. ``It is heavily reliant on exports to the United States as a driver of growth. But China is a relatively big economy, and the mix of exports to the United States is more focused on nondurable consumption goods and capital goods, which appear less at risk in the current slowdown.'' Those categories of goods are less at risk, he explained, because so far the decline in U.S.
NEW HAVEN -- A construction-firm owner who authorities say received a no-bid contract for a state office renovation project and then used taxpayer money to purchase televisions, a refrigerator and other goods that state employees took home, pleaded guilty in federal court Monday to filing a false tax return.
Louis F. Testa, 65, of Woodbridge, became the fourth person involved in the New Haven Union Station renovation project to plead guilty. He admitted that he failed to pay $100,382 in personal income tax between 2001 and 2004, the U.S. attorney's office said.
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GMAC-RFC announced Monday that it is partnering with First Savings Mortgage Corp. to roll out a co-branded servicing initiative that gives mortgage lenders the ability to maintain a marketing presence in front of their homeowners throughout the life of their loans.The co-branded servicing program prominently displays the mortgage lender’s name and logo, along with GMAC Mortgage, on the monthly statement and gives the lender the opportunity to include a marketing message, such as the originating loan officer’s name and contact information. The purpose of the program is to allow the lenders to keep their brand visible to the homeowner and to regularly offer the homeowner additional mortgage products, but without the expense of investing in servicing rights or establishing their own mortgage loan servicing infrastructure.It is not yet clear though how this marketing approach would apply to default servicing.
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