| Michelin gives big business a good name
WHEN Alex Cassie parted company with a big engineering firm in northwest England four years ago, he was looking forward to a leisurely retirement. Former colleagues had other ideas. They persuaded him to start a new business with them in Burnley, making parts for car companies, including Aston Martin, and for electrical-generator manufacturers. One problem was finding finance. A bank loan was the obvious solution, but the local Burnley Enterprise Trust alerted Cassie to an unlikely source of funds. Why not ask Michelin, the French tyre company, for a loan? It was good advice. BCW Engineering, as the new company was called, was one of the first British firms to take advantage of Michelin Development, a small-business loan scheme that has been running in France since 1990 and which was brought to Britain in 2003.
For a real mayor's race, just look at Philadelphia
PHILADELPHIA -- When Democratic Councilman Bill Peduto dropped his mayoral challenge to incumbent Luke Ravenstahl, it ensured a snooze-fest for the May 15 Pittsburgh primary. But in the City of Brotherly Love and Cheese Steaks five -- count 'em FIVE -- heavyweight Democratic candidates are battling it out to see who will be mayor. The contenders are sitting U.S. Reps. Chaka Fattah and Bob Brady, longtime state Rep. Dwight Evans, former City Councilman Michel Nutter, and wealthy businessman Tom Knox. Mr. Brady, 62, has been in Congress since 1998 and has been chairman of the Philadelphia Democratic Party since 1986. He has strong ties to organized labor and is close to many Democratic officials in the region. Mr. Evans, 53, has been a state legislator since 1980 and currently chairs the powerful House Appropriations Committee.
A Loan at Home
Lending money to family and friends is a timeworn tradition--one that probably has worn out more relationships than it has helped. Still, if you've been fortunate enough to sock away some cash, can you say no to a child wanting to launch a business or a close friend who has run into temporary problems? You can. But if you decide otherwise, consider that most business start-ups fail and that temporary problems have a way of becoming fatal ones. In other words, a lot of these loans go bad. About 14% of personal loans end up in default, according to Circle Lending, which formalizes loans between family and friends. That compares with about 1% of bank loans. So don't be surprised if your largesse ends up lost. That may be fine if the borrower is in your will anyway and the wealth transfer doesn't run afoul of federal limits on tax-free gifts.
Credit where credit is due
While thousands of families were enjoying a beautiful Sunday afternoon in Hermann Park, hundreds of people gathered in the park's Miller Outdoor Theatre to remember those who never got to experience such a lovely spring day. The inaugural "A Life to Remember" ceremony, a commemoration of the babies lost through miscarriage, stillbirth or newborn death was presented by local support groups and area hospitals. Babies? How did that reference (and not "fetuses") get by the editors? Hat tip to Jennifer Leahy for the characterization and Matt Bramanti for the catch. Posted by Kevin Whited @ 03/19/07 10:00 PM | Houston Chronicle | Technorati | Comments (2) Print Previous Entry | Home | Next Entry Trackback Unfortunately, abusive spammers have forced us to disable incoming trackback pings.
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