Posts Tagged Government business and finance

Social Security spent $300M on ‘IT boondoggle’

This Friday, Jan. 11, 2013 file photo, shows the Social Security Administration's main campus is seen in Woodlawn, Md. Six years ago the Social Security Administration embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. Nearly $300 million later, the new system is nowhere near ready and agency officials are struggling to salvage a project racked by delays and mismanagement. (AP Photo/Patrick Semansky, File)

WASHINGTON (AP) — Six years ago the Social Security Administration embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. Nearly $300 million later, the new system is nowhere near ready and agency officials are struggling to salvage a project racked by delays and mismanagement, according to an internal report commissioned by the agency.

Read the rest of this entry »

Tags: , , , , , , ,

Lawmaker suggests revamping film incentive cap

SANTA FE, N.M. (AP) — Two Democratic lawmakers plan to ask the Legislature to revamp a $50 million annual cap on tax incentives for film and television production in New Mexico.

Read the rest of this entry »

Tags: , , , , , , , , , , , ,

New safety rules proposed to curb oil train fires

This Nov. 6, 2013, file photo shows a BNSF Railway train hauling crude oil near Wolf Point, Mont. Thousands of older rail tank cars that carry crude oil would be phased out within two years under regulations proposed in response to a series of fiery train crashes over the past year. Transportation Secretary Anthony Foxx said the government's testing of crude oil from the Bakken region of North Dakota and Montana shows the oil is on the high end of a range of volatility compared with other crude oils, meaning it's more likely to ignite if spilled. (AP Photo/Matthew Brown, File)

WASHINGTON (AP) — Responding to a series of fiery train crashes, the government proposed rules Wednesday that would phase out tens of thousands of older tank cars that carry increasing quantities of crude oil and other highly flammable liquids through America’s towns and cities.

Read the rest of this entry »

Tags: , , , ,

IMF sees US growth at weakest since recession

In this March 12, 2014 file photo, Anthony Avery pushes grocery carts during a snow storm in Roseville, Mich. U.S. economic growth this year will likely be at the weakest pace since the Great Recession ended, the International Monetary Fund said Wednesday, July 23, 2014, mostly because of a sharp, weather-related contraction in the first quarter. (AP Photo/Paul Sancya, File)

WASHINGTON (AP) — U.S. economic growth this year will likely be at the weakest pace since the Great Recession ended, the International Monetary Fund said, mostly because of a sharp, weather-related contraction in the first quarter.

Read the rest of this entry »

Tags: , , , , , , , , , , , ,

SEC poised to end $1 a share for some money funds

FILE- In this Dec. 17, 2008 file photo, the Securities and Exchange Commission (SEC) headquarters in Washington is shown. Regulators are expected to vote Wednesday July 23, 2014 to end a longtime staple of the investment industry _ the fixed $1 share price for money-market mutual funds _ at least for some money funds used by big investors.  (AP Photo/File)

WASHINGTON (AP) — Regulators have voted by a narrow margin to end a longtime staple of the investment industry — the fixed $1 share price for money-market mutual funds — at least for some money funds used by big investors.

Read the rest of this entry »

Tags: , , , , , , ,