Sunday, February 6, 2011

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Jobless rate among veterans highest in five years (Reuters)

Posted: 04 Feb 2011 03:04 PM PST

WASHINGTON (Reuters) – More than 15 percent of Iraq and Afghanistan war veterans were unemployed in January, far higher than the national jobless rate and the highest since the government began collecting data on veterans in 2005, the Bureau of Labor Statistics said on Friday.

That rate could go even higher if the U.S. military begins winding down operations in Afghanistan and a flood of veterans return home looking for work, a veterans' advocate said.

"These numbers need to be a wake up call for all Americans because there is really no excuse for this," said Todd Bowers, deputy executive director for Iraq and Afghanistan Veterans of America.

The government said 15.2 percent of veterans were out of work in January, up from 12.6 percent the same month a year ago. This compares with a overall U.S. unemployment rate of 9.0 percent seasonally adjusted and 9.8 percent without adjustment. The government data for veterans is only presented without adjusting for seasonal differences.

Bowers, a Staff Sergeant in the Marine Corps Reserves, said the increase is because multiple deployments have become standard operating procedure for a stretched military.

"You've got folks who are active duty, national guard, and the reserves who have done three, four, five, six deployments and that makes it extremely difficult to come home... and jump back into the workforce for a brief period of time and head out again," he said.

The 31-year-old Bowers was deployed four times and had to step back from active reserve so he could get his career back on track.

"I had just been jumping back and forth from Iraq to Afghanistan and then coming back and trying to get my feet into the workplace."

Senator Patty Murray of Washington state, chair of the Veterans Affairs committee, introduced legislation in April of last year to give veterans extra assistance after veteran unemployment reached double digits.

The proposed legislation would create and expand federal programs to equip and retool veterans for working in the civilian world and expand job assistance for soldiers going through the transition.

Economic Policy Institute Economist Heidi Sheirholz said that most military veterans are young men with less education, and jobs for that group have been especially hard hit during the recession.

She said the rate may also be higher because of a decline in construction jobs during the winter. And she said the rate may also reflect a sharp rise of 10 percent in the number of veterans over the past year.

Some fear that with the military operations in Iraq and Afghanistan slimming down, and reductions in the defense budget, a growing number of veterans will hit the job market.

"That's going to be a tremendous amount of people jumping back into the workforce sort of unwillingly," Bowers said.

(Editing by Greg McCune)



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Snow-battered Northeast challenged by winter hazards (Reuters)

Posted: 05 Feb 2011 01:42 PM PST

BOSTON (Reuters) – Unrelenting winter storms have left a chilled New England in a white maze, with growing mounds of snow and ice creating formidable public safety concerns.

The barrage of winter weather has stoked concern about the potential for water pollution from snow disposal in rivers, roof collapses and traffic and pedestrians navigating narrow clearances.

"Given the increased snowfall and snow amounts throughout the city, visibility has clearly been affected," said Boston Police Department spokesman James Kenneally.

Snow accumulation totals this season so far have reached almost 71 inches in Boston, a city used to plowing and playing in a more manageable 23 inches of snow each year.

Other Northeastern cities, too, have been hammered by this season's snowfall, with Hartford recording more than 80 inches of snow and New York City almost 58 inches, according to Weather Channel tallies.

One result is that cities and towns trying to make streets and walkways passable are running out of space to pile snow, prompting some to consider disposing of snow in waterways.

Massachusetts regulates disposing of snow in rivers, lakes or canals because snow mixed with auto fluids, asphalt, salt and other debris can pollute water or pose navigation hazards.

The state does make an allowance if a community has exhausted other options and public safety is an overriding concern, Joe Ferson, spokesman for the state's Department of Environmental Protection, said.

The policy has been in place since late 1997, but Ferson said he believes this is the first year it's been needed. The department has so far fielded four inquiries about the last-resort disposal.

Massachusetts Port Authority, which operates Logan International Airport, and two communities near Boston have consulted with the agency, but only the Coast Guard, operating near the North End neighborhood in Boston, has disposed of any snow in water in accordance with the guidelines, Ferson said.

The city of Boston, however, doesn't intend to dump snow in waterways despite forecasts calling for more precipitation.

"Not something we're interested in and it's not necessary," said Joanne Massaro, commissioner of Public Works for Boston.

Connecticut, too, has revised snow disposal guidelines, saying in some cases dumping snow in salt water may be viable.

"When it comes to disposing of all this snow, we must strike the right balance between environmental protection and public safety," the state's Department of Environmental Protection commissioner Amey Marrella said on Friday.

Both states require advance notice and prohibit disposal of snow in critical environmental areas.

Mountains of snow on city streets aren't the only hazard.

Public officials are increasingly concerned about a rash of roof collapses in the region as flat roofs are crippled under the weight of snow and ice.

Massachusetts Emergency Management Agency reports more than 92 roof collapses, with the majority occurring in the last few days primarily in eastern and southeastern parts of the state.

"The snow acts like a sponge," said spokesman Peter Judge, noting rain and wintry mix have been as detrimental as snow.

Most structures in trouble are commercial properties with large, flatter roofs including warehouses, gas station canopies and even barns, Judge said.

No serious injuries have been reported, but local media in New England report barn collapses injuring or killing animals.

Buildings in the Boston area are typically designed for a snow load of around 30 lbs per square foot, or about two feet of snow, said Elizabeth Lewis, a structural engineer at Weymouth, Mass-based Gale Associates, Inc.

She said some older buildings let heat escape, which helps melt roof snow, while more insulated, energy-efficient newer buildings do not have the same winter luck.

Winter worries aren't likely to subside any time soon.

Forecasts are calling for a wintry mix of snow, sleet and freezing rain in southern New England on Saturday evening and snow likely again on Monday night.

(Reporting by Lauren Keiper. Editing by Peter Bohan)



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Chrysler chief apologizes for using term "shyster" (Reuters)

Posted: 05 Feb 2011 12:40 PM PST

SAN FRANCISCO (Reuters) – Chrysler Group LLC's chief executive apologized on Saturday for describing the high-interest bailout loans extended by the U.S. and Canadian governments in 2009 as "shyster loans."

"Yesterday, in responding to a question about Chrysler's government loans, I used a term in reference to the interest rate being charged on our government loans that has raised concern," CEO Sergio Marchionne said in a statement. "I regret the remark which I consider inappropriate."

Shyster is a derogatory term used to describe an unprincipled lawyer or politician. He used the term at least three times in his remarks during an industry conference on Friday.

In 2010, Chrysler paid $1.23 billion, or about $3.4 million a day, in interest payments on its debt. It is seeking to refinance those loans before a planned initial public offering in the second half of 2011.

In his statement, Marchionne said the company was grateful for the financial assistance from the U.S. and Canadian governments at a time when the company had no other options. The loans were part of a bailout to keep the automaker from collapse.

Chrysler emerged from bankruptcy in June 2009 and is now under the management control of Italy's Fiat SpA, which has a 25 percent stake in the U.S. automaker. Marchionne is also CEO of Fiat.

"As the only parties willing to underwrite the risk associated with Chrysler's recovery plan, the two governments levied interest rates that, although appropriate at the time, are above current market conditions," Marchionne said.

"Because of these changed market conditions as well as the improvements in our performance and outlook made possible through the support of the U.S. and Canadian governments, Chrysler intends to repay these loans in full at the earliest opportunity," he added.

(Reporting by Deepa Seetharaman; Editing by Peter Cooney)



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