Economy

Economy
10:29 am
Fri July 25, 2014

Bombardier To Cut 1800 Jobs Worldwide

Airplane maker Bombardier Inc. is cutting 1,800 jobs across facilities worldwide as it restructures operations.

Spokeswoman Isabelle Rondeau with the Montreal-based company said Thursday that Bombardier plans to reorganize the company into four business segments before Jan. 1.

Bombardier says production-related jobs will not be affected. It plans a 15 percent reduction in what the company calls "indirect functions," such as human resources, finance and communications.

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Economy
11:57 am
Wed July 23, 2014

KS Kids’ Economic Well-Being On Downward Trend

The annual KIDS COUNT Data Book ranks Kansas 15th overall for child well-being. While that’s one spot higher than last year in the overall state rankings, Bryan Thompson reports the numbers aren’t so good, in terms of the economic well-being of Kansas kids.

Shannon Cotsoradis, who heads the advocacy group Kansas Action for Children, says Kansas families are struggling, economically.

“In 2012 we have 19% of children living in poverty,” she says. "That’s unchanged from 2011, but the trend has increased significantly over time. Just a few years ago, we were at 15%.”

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Economy
5:00 am
Tue July 15, 2014

Wichita Tops Abandoned Homes List

A recent report listed Wichita as having the highest percentage of abandoned homes in foreclosure among the nation’s largest metro areas. KMUWs Abigail Wilson has more…

Of the 301 properties in foreclosure in Wichita right now, nearly half stand vacant and abandoned.

A June report by real estate information company RealtyTrac says the properties, known as zombie foreclosures, are homes where the foreclosure process has been started, but never finished by the homeowner or the bank.

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Economy
12:18 pm
Tue July 1, 2014

Kansas Revenue Secretary: June's Missed Estimates Pushes Shortfall To Nearly $338M For 2014

Kansas Revenue Secretary Nick Jordan says June’s tax collections missed estimates by $28 million, pushing the shortfall for the fiscal year that ended Monday to nearly $338 million.

Preliminary figures released Monday showed Kansas collecting nearly $5.5 billion in taxes and fees in fiscal 2014. Forecasters whose projections help the state build its annual budget had expected Kansas to take in about $5.8 billion during the year.

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Economy
11:44 am
Wed June 18, 2014

More Than 300 Kansans Will Recieve Payments From A Suntrust Banks Settlement

Attorney General Derek Schmidt says more than 300 Kansas consumers will be eligible for payments under a settlement between 48 states, the federal government and SunTrust Banks Incorporated.

The U.S. Justice Department said Tuesday the $968 million settlement resolves allegations that SunTrust underwrote and provided faulty mortgage loans. The federal government accused SunTrust of giving borrowers false and misleading information and charging unauthorized fees.

The agreement is with SunTrust Mortgage, a Virginia-based mortgage lender and subsidiary of SunTrust Banks Inc.

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Economy
2:52 pm
Mon May 5, 2014

Lawrence Is The Most Expensive Place To Live In Kansas

New figures from the federal Bureau of Economic Analysis show that Lawrence is the most expensive metro area in Kansas.

The bureau’s report shows that although the city’s cost of living is lower than the national average, it’s higher than in any other metro area in Kansas.

Lawrence residents also earn less than residents in other Kansas communities.

The new figures are part of a project by the Bureau of Economic Analysis designed to give people a better idea of how much it costs to live in various metro areas.

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Economy
11:48 am
Thu April 17, 2014

Kansas Lawmakers Prepare For 2015 Fiscal Forecast

Kansas officials are preparing a new fiscal forecast to guide Governor Brownback and lawmakers in making budget decisions.

The forecasters include legislative researchers, members of Brownback’s budget stuff, Department of Revenue officials, and university economists.

They’re meeting this afternoon to revise earlier revenue projections for the current fiscal year and for the fiscal year beginning in July.

Since July 2013, the state has collected $141 million dollars more than anticipated.

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Economy
10:43 am
Fri April 11, 2014

Kansas Officials And Economists Meet To Determine Revenue Projections For 2015

Kansas officials and economists will gather next week to study revenue projections for the coming year.

They hope to find out if the state economy is growing and if tax receipts will keep government afloat.

Legislative leaders on gave differing views yesterday of what the projections for what the next fiscal year will look like, but agreed that the state faces challenges.

Tax collections through March were $130 million dollars above the forecasters’ November estimate.

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Economy
10:06 am
Tue March 18, 2014

State Jobless Rate Dips To 4.8 Percent For January

A new Kansas Department of Labor report says the state's jobless rate dipped to 4.8 percent in January.

The department found that January's seasonally adjusted unemployment rate fell from the 4.9 percent recorded for December

The report also shows that total non-farm, private-sector employment in January topped 1.12 million--that's a gain of 20,500 jobs over the past year.

The state saw its most robust growth in construction.

61,000 people held jobs in January, compared with just over 55,000 in the January of 2013.

Economy
10:00 am
Mon February 24, 2014

KS House Speaker Ray Merrick Vows To Focus On Economy

Kansas House Speaker Ray Merrick says he'll be working to focus the chamber on economic issues for the rest of the legislative session.

Recently, some controversial bills in the House have caught national attention and criticism.

Merrick says he can't stop members from filing bills, but he can try to get lawmakers back to what he calls the basics.

"Making (Kansas) the most business friendly state in the country and emphasizing that the rest of the session," he says.

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