Thursday, December 10, 2009

Working with Small Business to Drive Recovery

Tarp funds diverted to boost job projects

By Edward Luce and Krishna Guha in Washington

Published: December 9 2009 02:00 | Last updated: December 9 2009 02:00

Barack Obama yesterday announced that some of the $200bn in lower-than- expected spending under its bank bail-out programme would go towards projects aimed at ensuring jobs growth "matches economic growth".

In a speech to the Brookings Institution , the US president laid out a series of initiatives to spur this growth . These included measures aimed at stimulating lending to small businesses, which have been hit hard by the drying up of credit over the past 15 months.

Mr Obama emphasised support for small business, infrastructure and clean energy: "These are areas in which we can put Americans to work while putting our nation on a sturdier economic footing," he said.

NDIA Small Business Winter Social - January 29, 2010

Date: January 29, 2010

Time: 5:00 p.m. – 7:00 p.m.

Place: Coronado Island Marriott Resort
2000 2nd Street
Coronado, CA

The National Defense Industrial Association San Diego Chapter periodic event is our monthly NDIA Luncheon meeting which takes place from 11:30 am to 1:00 pm every second Wednesday at the Catamaran Hotel and Resort located at 3999 Mission Blvd. San Diego, CA 92109.

More than one hundred defense industry leaders regularly attend this prestigious event. Because the NDIA luncheons provide a unique forum for local government representatives, San Diego defense company leadership, vendors, local media, and higher learning centers to share ideas and interact, the NDIA SD Luncheons are ideal events for your business networking opportunities.

Exerpts from The Free Library

Obama Administration Diverts $28.5 Million in Small Business Dollars to General Dynamics

Dec. 9, 2009
PETALUMA, Calif. -- The following is a statement by the American Small Business League:
The Obama Administration has awarded a $28.5 million small business contract to Fortune 500 firm General Dynamics. As America's fourth largest prime contractor, General Dynamics did more than $29.3 billion in sales during fiscal year (FY) 2008 and maintains more than 92,000 employees.

According to the most recent data from the Federal Procurement Data System General Dynamics is just one of hundreds of corporate giants that are
currently receiving federal small business contracts from the Obama Administration.

The American Small Business League (ASBL) has estimated that every year more than $100 billion in federal small business contracts are diverted away from legitimate small businesses and into the hands of some of the largest corporations in the world. The most recent data released by the Obama Administration indicates that firms counted as small businesses included: Xerox, Bechtel, Lockheed Martin, Boeing, Raytheon, Northrop Grumman, British Aerospace (BAE), Ssangyong Corporation headquartered in Seoul, South Korea and Finmeccanica SpA, which is located in Italy with 73,000 employees.

In May of 2009, Congressman Hank Johnson (D-4-GA) introduced H.R. 2568, the Fairness and Transparency in Contracting Act. If passed the bill would halt the flow of federal small business contracts to large businesses and redirect more than $100 billion a year in federal infrastructure spending to legitimate small businesses. Although the bill has bipartisan support with 19 co-sponsors, to date President Obama has refused to endorse the legislation.

1 comment:

Geezer Power said...

Hmm, the Hedgehogs seem to be interested in this article, especially the General Dynamics part...G: