You are browsing the archive for 2010 July 01.

Unemployment benefits to rise slightly

2:29 pm in economy, business and finance by Dave DeWitte

Unemployment benefits and workers compensation benefits will rise in Iowa on July 1, triggered by a modest increase in average annual wage for insured workers.

The average wage increased by  $176.81 to $36,908.84, according to Iowa Workforce Development.

The current maximum weekly benefit amount for a claimant with no dependents is $374. Effective  July 5 it will increase to $376.

The maximum weekly benefit for a claimant with four or more dependents will go up from $459 last year to $461.

The minimum benefit effective July 5 will range from a low of $56 for a claimant with no dependents to  a high of $67 for a claimant with four or more dependents.

Flood insurance program given short-term extension

1:44 pm in economy, business and finance by Dave DeWitte

The United States Senate has approved a three-month extension of the National Flood Insurance Program, which expired on May 31 in the midst of Midwestern flood season.

The short three-month extension was not satisfactor to a leading insurance industry association.

“We are pleased that Congress reauthorized the flood insurance program,” said David Sampson, president and CEO of the Property Casuality Insurers Association of America. “But this three-month extension threatens to leave communities vulnerable again in september, at the height of hurricane season.”

Congress failed to extend the National Flood Insurance Program before leaving for the Memorial day recess. The expiration among other things prevented some Americans seeking to buy homes in flood-prone areas from consummating their purchases, because they are required to have flood insurance.

State Farm Fire & Casualty announced it planned to stop servicing National Flood Insurance Program polices in May. It said the 11 last-minute reauthorizations and four lapses in the program since 2002 had made it too burdensome to keep customers abreast of the program’s status.

The National Flood Insurance Program provides 5.5 million Americans with financial protection from flooding.

The insurance association said that the program has $18 billion in debt, and needs meaningful reform rather than short-term extensions.

The group supports a bill introduced by U.S. Rep. Maxine Waters, D-Calif., that it said would provide a five-year extension, stabilize the program financially, and limit additional federal exposure to natural disasters.

Realtors in the Cedar Rapids and Iowa City areas said they did not believe the recent lapse in the program interfered with many home purchases.

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KCRG-TV9 executive elected president of Iowa Broadcasters Association board of directors

11:45 am in economy, business and finance by George C. Ford

John Phelan, Iowa Broadcasters Association

John Phelan, senior director of broadcast distribution for KCRG-TV9 in Cedar Rapids, was elected president of the Iowa Broadcasters Association for 2010/2011 at the organization’s annual summer convention Wednesday in West Des Moines.

Phelan, who was initially elected in 2005 to the IBA board of directors, has served the organization as director, vice president and treasurer.

Also elected to the board for 2010/2011 were, Vice-President, Carol Kuster of KWBG in Boone, vice president, and Dave Putnam of KICD AM/FM/KLLT in Spencer, treasurer.

Dianne Little of KYOU-TV in Ottumwa Dave Vickers of KROS in Clinton and Jim Coloff of Coloff Media in Cedar Falls were elected directors at large. Remaining on the board as immediate past president is Joel McCrea of Clear Channel Des Moines/Ames and past-past president Rick Sellers of KMRY in Cedar Rapids.

The Iowa Broadcasters Association is the trade association for Iowa’s broadcasters.

Diamond V Mills CEO featured in Smart Business

10:57 am in economy, business and finance by John McGlothlen

John Bloomhall, Diamond V Mills

John Bloomhall, president and chief executive officer of Diamond V Mills in Cedar Rapids, is featured in the July 2010 issue of Smart Business St. Louis:

A healthy return: How John Bloomhall continues to guide Diamond V Mills Inc. through challenges

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NewBoCo

Videos from NewBoCo
The unConference took place on
Sept. 2, 2011 at CSPS in Cedar Rapids.

Contact the Business Editorial Staff

Michael Chevy Castranova, business editor, 319-398-8469
Dave DeWitte, 319-398-8317
George C. Ford, 319-398-8366

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