Industry is one of state’s biggest employers
Nonprofit Funding Dries up on Federal, Local Levels
Kellie VanBrunt, left, gets to know Chris Hamilton during the first meeting of a leadership core group at Evergreen Junior High School. - Lido Vizzutti/Flathead Beacon
The nonprofit industry, one of the biggest employers in Montana, is watching major funding sources dry up, partly due to the nation’s economic slowdown, and is preparing for an even larger fallout in the upcoming months and year.
In the Flathead, Susan Christofferson, director of the Nurturing Center, said she has rarely seen such dire economic times for nonprofits in her 30 years in the industry. When she applies for grants today, she is regularly told there’s not enough money to go around. At the same time, her organization’s services are in higher demand.
State Fund
State Fund Down About $26 Million in Market Tumble
GREAT FALLS – A spokesman says the Montana State Fund lost $26 million in late September when the stock market tanked.
At about the same time, Montana voters received a pamphlet describing Constitutional Amendment 44. Approved by the 2007 Legislature, it would allow up to 25 percent of all state trust fund assets to be invested in stocks.
Timber Counties
Bailout Bill Restores Timber Payments
WASHINGTON – The financial rescue plan signed by President Bush on Friday extends a program that pays rural counties hurt by federal logging cutbacks.
Senators inserted the timber provision as one of several sweeteners to attract more votes for the bailout bill, which the House approved on Friday, two days after the Senate.
Related: Counties Could Face Major Funding Cuts
House Passes 263-171
Rehberg Opposes Bailout Bill, Again
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Rep. Denny Rehberg |
HELENA – Rep. Denny Rehberg on Friday voted against the $700 billion government bailout of the battered financial industry, saying he hopes the legislation will work but could not support it.
The House passed the measure 263-171 and sent it to President Bush, who signed it.
"Congress needed to get this right the second time, and get it right quickly," said Rehberg, who voted against the initial House version of the bill on Monday. "Instead, we faced resistance to any alternatives at every level."
Guest Commentary: John D. Zaiss
Placing Blame Won’t Fix the Economy
“I’m mad as hell, and I’m not going to take it anymore! You’ve got to say it! Then we’ll figure out what to do about the depression and the inflation and the oil crisis.”
Peter Finch delivered these classic lines in his Oscar-winning performance as a newscaster in the movie Network. His words are eerily prophetic.
What borrowers can do to get favorable terms
Mortgage Hunt Tough, Not Impossible
NEW YORK – If you were thinking of getting a mortgage before the current blizzard of bad financial events struck, the good news is: You can still get a home loan, and, at least for now, rates have been falling.
But the caveat is: You'd better be creditworthy.
The US Treasury's takeover of mortgage finance giants Fannie Mae and Freddie Mac earlier this month signaled that mortgage money will remain available.
