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January 9, 2012 Edition
Other

Economics theme of MEREDA event

Republican Gov. Paul LePage will deliver the welcoming address at the Maine Real Estate & Development Association's annual real estate conference on Thursday, Jan.

  • Opinion
    Opinion

    Looking ahead

    I think Mainers are a pretty self-reliant lot. When adversity rears its head, most Mainers hunker down and figure out a way to meet the challenge.

  • Bangor's C&L Air Services doubles staff and revenue in 18 months

    Doug Kesseli

    From Brisbane, Australia, to Bangor, Maine, from England to Mongolia, C&L Air Services is making a name for itself, carving out a niche in a highly competitive aviation industry.

  • Focus on Augusta/Waterville
    Focus on Augusta/Waterville

    New uses considered for the Thayer and Seton units of MaineGeneral

    Bob Mentzinger

    A steady convoy of dump trucks moving earth and pile drivers sinking steel dominate the work site of MaineGeneral's new $322 million, 192-bed regional hospital in north Augusta.

  • Budgets and breaks

    Mal Leary

    State revenues still in redSales tax up slightly Penalty revenue nearly 20% below projections

  • Opinion
    Opinion

    Our five economists answer: What are Maine's biggest challenges?

    As part of our 2012 forecasting coverage, Mainebiz asked the five economists we tapped for predictions to give us their opinions on Maine's top economic challenges. Here are their answers:

  • In Short
    In Short

    In short

    New HiresPutney Inc., a pet pharmaceutical company in Portland, recently hired Ted Smolenski as vice president of strategic portfolio planning.

  • How To's
    How To's

    Safeguard your business by paying attention to signs of employee theft

    Alison Hinson

    "When will one of my employees steal money from me?" This is not a question many business owners ask themselves, but it should be.

  • Occupy Maine holding ground

    Matt Dodge

    Sparked in New York City in September, the Occupy movement has spread globally, branding itself a people's opposition to a perceived epidemic of corporate greed and pro-business policymaking in federal and state governments.

Today's Poll

Is it time for the Federal Reserve to start cutting interest rates?
Poll Description

Over the course of months, banks and other businesses have looked for the Federal Reserve Board to cut interest rates, but the waiting game continues.

Basing its decision on new economic reports, the Fed on May 1 said it doesn’t plan to cut rates until it has “greater confidence” that inflation is slowing toward the central bank's 2% target. Three rate reductions had been projected for 2024, likely starting in June.

But for now, it appears the key borrowing rate in the U.S. will stay at a two-decade high of roughly 5.3%.

Keeping the rate so high for so long may tame inflation, but can also discourage new investment and business growth.

“The Fed is really stressing the banking industry,” said Andrew Silsby, president and CEO of Augusta-based Kennebec Savings Bank, in a Mainebiz story last month. “The economic environment is really quite difficult, but I haven’t quite figured out whether we’re through the storm or in the eye of the storm.”

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