Category Archive : Business

Ames Construction crews work on a new bridge over 9000 South that will be part of the northbound I-15 collector/distributor system in Sandy on Friday, Sept. 25, 2020. The collector/distributor will run parallel to northbound I-15 between 9400 South and the I-215 interchange and will improve access to I-215 and 7200 South.

Ames Construction crews work on a new bridge over 9000 South that will be part of the northbound I-15 collector/distributor system in Sandy on Friday, Sept. 25, 2020. The collector/distributor will run parallel to northbound I-15 between 9400 South and the I-215 interchange and will improve access to I-215 and 7200 South. | Kristin Murphy, Deseret News

SANDY — If you’re used to getting on northbound I-15 freeway at 9000 South in Sandy, you might want to reconsider this weekend.

The Utah Department of Transportation is scheduled to close 9000 South overnight beginning on Saturday at 6 p.m. until 5 a.m. on Sunday between I-15 and Monroe Street in Sandy. The closure will allow crews to pour concrete for a new bridge over 9000 South that is part of a new collector/distributor system that is designed to improve safety and reduce traffic delays.

“What we’re doing this weekend is pouring the deck of the ramp that goes over 90th South — the beginning area of the collector/distributor,” said UDOT project manager Jessica Rice.

During the closure, drivers can access I-15 at 10600 South. Eastbound and westbound 9000 South traffic will be detoured to 10600 South. Drivers should plan extra travel time and follow the detour signs during the closure. Drivers can get more information about the detour by visiting the project website.

“(The new system) will enhance safety by eliminating the weaving of cars trying to get on the freeway near I-215,” she said. “What we’re doing is building a new collector/distributor system that will change the commute for the better by cutting our own traffic delays in half in this area.”

The new collector/distributor system is similar to one between 2100 South and 900 South in Salt Lake City, with a three-lane freeway section, separated from the I-15 travel lanes by a concrete …read more

Source:: Deseret News – Business News

      

“President Trump capped his fruitless four-year journey to abolish and replace the Affordable Care Act by signing an executive order Thursday that aims to enshrine the law’s most popular feature,” protections for people with pre-existing conditions, while “avoiding the thorny details of how to ensure such protections without either leaving the ACA, or ObamaCare, in place or crafting new comprehensive legislation,” The Washington Post reports.

Stat News describes Trump’s affirmation of pre-existing conditions protections as “likely empty rhetoric” and one several “simple, superficial, and non-binding executive orders” that will neither “improve the quality of Americans’ health care or lower its cost.”

Trump was more bullish in what was billed as a health care policy speech in North Carolina. “The historic action I’m taking today includes the first-ever executive order to affirm it is the official policy of the United States government to protect patients with pre-existing conditions,” he said. His administration is backing a lawsuit before the Supreme Court that could strike down those protections, already enshrined in the sweeping law Democrats passed a decade ago, but Trump said he’s “putting it down in a stamp, because our opponents, the Democrats, like to constantly talk about it.”

Thursday’s actions were “a tacit admission that Trump had failed to keep his 2016 promise to replace his predecessor’s signature achievement with a conservative alternative,” the Post reports. But that failure “has not stopped Trump from repeatedly promising a soon-to-come health-care plan in a repetitive cycle of boastful pledges and missed deadlines that intensified in recent weeks ahead of the November election.”

Trump also “promised millions of older Americans would receive $200 toward the cost of prescription drugs and signed executive orders he said would somehow prevent unexpected medical bills,” the Post reports. The …read more

Source:: The Week – Business

      

Treasury Secretary Steven Mnuchin on Thursday said he will soon resume talks with House Speaker Nancy Pelosi (D-Calif.) about another coronavirus relief package.

Mnuchin told the Senate Banking Committee that he has “probably spoken to Speaker Pelosi 15 or 20 times in the last few days” on a continuing resolution to extend government funding, and “we’ve agreed to continue to have discussions about the CARES Act.” He also asked Congress to give him the authority to distribute $130 billion in unused Paycheck Protection Program funds to provide loans to small businesses hit particularly hard by the coronavirus pandemic. The deadline to apply for PPP loans was Aug. 8.

Pelosi told reporters that she will “hopefully soon” start negotiations with Mnuchin, and for now is talking with her caucus and leadership. “We’ll see what we’re going to do,” she said. “But we’re ready for a negotiation. That’s what we’re ready for.”

Top Democrats spent Thursday working on a $2.4 trillion relief package that could be used in negotiations or be voted on as a stand-alone package sometime soon, a senior Democratic aide told The New York Times. The House approved a $3.4 trillion rescue measure in May, which Republicans said was bloated and had no chance of passing the Senate.

…read more

Source:: The Week – Business

      

The Utah Department of Workforce Services’ main administration building in Salt Lake City now bears the name of the late Gov. Olene S. Walker. The building was renamed during a ceremony celebrating the department’s 20th anniversary on Thursday, June 29, 2017.

The Utah Department of Workforce Services’ main administration building in Salt Lake City. | Kristin Murphy, Deseret News

SALT LAKE CITY — The volume of claims for jobless benefits in the Beehive State rose by nearly 6.3% last week, a new report shows.

The Utah Department of Workforce Services said Thursday the total number of new claims filed for unemployment benefits registered at 4,473 for the week of Sept. 13-19, with a total of $61.2 million in benefits paid out to individuals.

The report also showed 47,839 continued claims filed during that same period.

“It is promising to see the number of continued claims for unemployment benefits decrease every week, unfortunately it also appears that new claims have begun to plateau, showing ongoing disruptions to employment,” said Unemployment Insurance Division Director Kevin Burt. “While employment disruptions have continued during this pandemic, Utah’s economy has shown itself to be resilient as evidenced by the latest Utah unemployment rate of 4.1%.”

This story will be updated.

…read more

Source:: Deseret News – Business News

      

“A chicken in every pot and a vaccine by Election Day!” That’s how Politico paraphrases President Trump’s election pitch, plus a chicken. Trump keeps promising a pre-election COVID-19 vaccine, “even though his own top health officials, including the former drug company executive leading his Operation Warp Speed vaccine initiative, have said again and again they are highly dubious of his rosy timeline,” Politico notes. The public has noticed, and their faith in the safety of a vaccine has dropped accordingly.

The top vaccine developers have responded the apparent politicization of the COVID-19 inoculation by releasing their typically private blueprints to their vaccine safety and approval process, and the Food and Drug Administration is reportedly preparing to issue stricter guidelines for emergency approval of a vaccine. Trump was asked about the FDA’s plans on Wednesday, and he did not seem pleased. “That has to be approved by the White House,” he said. “We may or may not approve it. That sounds like a political move. … I think that was a political move more than anything else.”

Still, “if Trump thinks an October vaccine is the key to his election, he may be the one who gets a surprise,” Politico reports, citing a new poll conducted with the Harvard T.C. Chan School of Public Health. It turns out, “getting a vaccine before Election Day would have virtually no effect on how likely voters cast their ballots,” Politico says. “That’s what 84 percent of voters favoring Trump say, along with 89 percent of those supporting Joe Biden.” Roughly equal numbers say a pre-election vaccine would make them more likely (7 percent) and less likely (6 percent) to vote for Trump.

The Politico/Harvard poll surveyed …read more

Source:: The Week – Business

      

Eric Trump’s excuses weren’t enough to keep him from addressing a fraud investigation into his family’s real estate business.

Trump’s lawyers said he was willing to meet with investigators regarding a probe into the Trump Organization, but that he was too busy to do so until after the election. New York Supreme Court Justice Arthur Engoron shot that request down on Wednesday, giving Trump a deadline of Oct. 7 to testify, The New York Times reports.

New York Attorney General Letitia James had subpoenaed Trump, a top executive at the Trump Organization, in an investigation into whether President Trump inflated his assets’ values to get loans and tax benefits, CNBC notes. Eric Trump was set to meet with James’ team in July, but he canceled, leading James to seek a court order to enforce her subpoena for his testimony and documents “withheld by the Trump administration.”

Engoron’s Wednesday order will give James access to those documents as well as force Trump to testify. James’ team had argued that Trump “can’t delay compliance for another two months,” and Engoron agreed, saying Wednesday he found Trump’s excuse “unpersuasive.”

James’ investigation stems from Michael Cohen’s testimony before Congress last year. Cohen, President Trump’s former fixer, testified that the president had “inflated” his assets to get loans and insurance coverage.

…read more

Source:: The Week – Business

      

During a war, it is commonly assumed that the citizenry must sacrifice so the troops can have the equipment they need. “We can’t have both guns and butter,” as the saying goes. However, in the case of the biggest and most expensive war mobilization in history — the Second World War — Americans actually did have both.

A new paper from J.W. Mason and Andrew Bossie at the Roosevelt Institute shows that military production shot up from 1941-44, but almost none of this came at the expense of civilian consumption. Moreover, the massive surge of war spending gave jobs to virtually every single person who wanted one, and this ultra-tight labor market dramatically reduced income inequality — which particularly benefited people at the bottom of the social ladder, like poorer African-Americans.

This matters not only as a piece of interesting economic history, but as a demonstration of what might be accomplished with an all-out assault on climate change. A Green New Deal would mean a similarly huge surge of spending to replace all the greenhouse gas-emitting systems with zero-carbon ones. Like just before the war, the U.S. today is far below its potential output. America could launch an all-out assault on climate change and still have a rising standard of living for most of its population.

The following chart shows the basic story. During the war, American GDP exploded by 80 percent — the fastest rate of growth in history. Almost all of that came on top of civilian consumption, which declined slightly from 1940-41, but increased thereafter:

(Courtesy Roosevelt Institute)

Now, the economy of 1940 was somewhat unusual. It had only partly recovered from the Great Depression, thanks largely to Franklin Roosevelt foolishly turning to austerity in 1937. That meant there was a lot of economic slack, particularly in …read more

Source:: The Week – Business

      

Pizza delivery man Derlin Newey, 89, reads a check for $12,000 at his Weber County home on Tuesday, Sept. 22, 2020. Every time Carlos Valdez and his wife order pizza, they ask that Newey deliver it. They also record his deliveries for their TikTok videos, which have become popular with their 53,000-plus followers. The Valdezes asked their followers to donate a little money to help Newey out if they could and raised $12,000, which they delivered to him on Tuesday. | Jay Dortzbach, Deseret News

ROY — An 89-year-old Weber County man has become “TikTok famous” after a family gave him a big tip for delivering pizza.

There are as many places to get pizza as there are toppings. But when Carlos Valdez starts getting his craving, he chooses Papa John’s in Roy.

“I love pineapple on my pizza,” he said with a laugh. “That’s the only thing my wife loves.”

It’s not so much because they think it’s the best-tasting pizza in the area, but more because of the delivery guy.

The Valdezes have gotten to know Derlin Newey from his deliveries to their house.

“Hello, are you looking for some pizza?” is a phrase Newey uses every time he delivers a pizza.

Jay Dortzbach, Deseret News
“It’s insane. Everybody loves him,” Carlos Valdez said of 89-year-old pizza delivery man Derlin Newey on Tuesday, Sept. 22, 2020. Every time Valdez and his wife order pizza, they ask that Newey deliver it. They also record his deliveries for their TikTok videos, which have become popular with their 53,000-plus followers. The Valdezes asked their followers to donate a little money to help Newey out if they could and raised $12,000, which they delivered to him on Tuesday.

Newey is always so kind, the Valdezes ask for him by name …read more

Source:: Deseret News – Business News