Friday, March 27, 2009
Thursday, March 26, 2009
Wednesday, March 25, 2009
Tuesday, March 24, 2009
Case Study: Munich Re
As a leader in the reinsurance business, Munich Re has consistently demonstrated that it is a capable leader in the field. According to Lascu (2008), “Munich Re was founded in 1880 by Carl Thieme, who with a vision far ahead of his time, created the reinsurance business: He convinced investors of the insurance companies’ need for reinsurance as a means of redistributing risk (and loss) among insurance firms, thus allowing them to take advantage of opportunities that otherwise they could not afford to consider” (p. 65). In order to distribute the perceived cost of risk, reinsurance companies must thoroughly investigate potential threats. While some risks can be easily calculated, political risks present unique challenges in the insurance business. Munich Re, like everyone else, failed to predict the terrorist events of September 11, 2001. This new element has caused the organization, and the insurance industry, to carefully reconsider how they conduct business.
Since the inception of the first commercial insurance agencies, insurers have worked hard to assist their consumers in alleviating the very risk that they were insuring against. In addition, insurers quickly ascertained the need to conduct inspections of insured facilities as well as insured individuals in order to correctly inculcate policies and rates. “Historically, insurance has blended risk transfer with incentives to reduce risk” (Freeman & Kunreuther, 2003, p. 165). In insuring buildings against fire, for example, premiums were reduced for measures taken to prevent damage by a fire event. While the insurance industry seemed to have developed efficient systems to account for the inherent risk, they failed to predict the extent of political risk associated with modern terrorism. While some marketing and strategy specialists sought to write terrorism out of policies, the organization might have been better served by a strategy that attempted to embrace terrorism insurance.
In order to adjust the insurance business to new trends, managers must perpetually evaluate the potential for emerging risks. Success in the insurance business relies on the accurate assessment of risk coupled with measures to aide the insured consumers against those risks. Like any threat, there are steps that organizations can take to help reduce the likelihood of a terroristic attack. According to Lascu (2008), “Companies have some control, however, in reducing their likelihood of becoming victims of terrorism by training employees in terrorism avoidance, such as briefing personnel on what to expect when entering high-risk areas and offering training for eluding roadblocks and avoiding hazardous encounters” (p. 44). While it would seem prudent for companies to take such measures, the insurance company could insist on anti-terrorism training as a pre-requisite to acquiring a policy. Additional measures to secure buildings and grounds could further aide in terrorism prevention. The insurance premium, like that of other policies, would then be linked to the steps that the company had taken to prevent an event rather than based on broad averages. “Premiums based on industry averages encourage firms that believe they are less risky than the average to self-insure” (Katztnan, 2003, p. 787). The combination of risk aversion techniques and premiums based on individual risk potential could increase the profitability of Munich Re.
References
Lascu, Dana-Nicoleta. 2008. International Marketing (3rd ed.). Mason, OH: Cengage
Learning.
Freeman, Paul & Kunreuther, Howard. 2003. Managing environmental risks through insurance.
On-line. Available from Internet,
http://opim.wharton.upenn.edu/risk/downloads/03-07-HK.pdf, accessed 12 March
2009.
Katztnan, Martin. 2003. Environmental Risk Management Through Insurance. On-line.
Available from the Internet, http://www.cato.org/pubs/journal/cj6n3/cj6n3-4.pdf, accessed 12 March 2009.
Since the inception of the first commercial insurance agencies, insurers have worked hard to assist their consumers in alleviating the very risk that they were insuring against. In addition, insurers quickly ascertained the need to conduct inspections of insured facilities as well as insured individuals in order to correctly inculcate policies and rates. “Historically, insurance has blended risk transfer with incentives to reduce risk” (Freeman & Kunreuther, 2003, p. 165). In insuring buildings against fire, for example, premiums were reduced for measures taken to prevent damage by a fire event. While the insurance industry seemed to have developed efficient systems to account for the inherent risk, they failed to predict the extent of political risk associated with modern terrorism. While some marketing and strategy specialists sought to write terrorism out of policies, the organization might have been better served by a strategy that attempted to embrace terrorism insurance.
In order to adjust the insurance business to new trends, managers must perpetually evaluate the potential for emerging risks. Success in the insurance business relies on the accurate assessment of risk coupled with measures to aide the insured consumers against those risks. Like any threat, there are steps that organizations can take to help reduce the likelihood of a terroristic attack. According to Lascu (2008), “Companies have some control, however, in reducing their likelihood of becoming victims of terrorism by training employees in terrorism avoidance, such as briefing personnel on what to expect when entering high-risk areas and offering training for eluding roadblocks and avoiding hazardous encounters” (p. 44). While it would seem prudent for companies to take such measures, the insurance company could insist on anti-terrorism training as a pre-requisite to acquiring a policy. Additional measures to secure buildings and grounds could further aide in terrorism prevention. The insurance premium, like that of other policies, would then be linked to the steps that the company had taken to prevent an event rather than based on broad averages. “Premiums based on industry averages encourage firms that believe they are less risky than the average to self-insure” (Katztnan, 2003, p. 787). The combination of risk aversion techniques and premiums based on individual risk potential could increase the profitability of Munich Re.
References
Lascu, Dana-Nicoleta. 2008. International Marketing (3rd ed.). Mason, OH: Cengage
Learning.
Freeman, Paul & Kunreuther, Howard. 2003. Managing environmental risks through insurance.
On-line. Available from Internet,
http://opim.wharton.upenn.edu/risk/downloads/03-07-HK.pdf, accessed 12 March
2009.
Katztnan, Martin. 2003. Environmental Risk Management Through Insurance. On-line.
Available from the Internet, http://www.cato.org/pubs/journal/cj6n3/cj6n3-4.pdf, accessed 12 March 2009.
Monday, March 23, 2009
Great News about Recovery!
According to Reuters, “U.S. existing home sales rose in February.”
According to AJC.com, “February jobless claims double a year ago.”
Reading between the media spin we find that “distressed sales accounted for 40-45 percent of transactions in February” and that “the median national home price declined 15.5 percent.” The Reuters article points clearly to the appreciable recovery of the market due to recent policies by the new administration. While gleaning over the increase in unemployment that is driving record high foreclosures, the reaction is that "this is a good report." The spin purports that “sales were up in all four regions.” As a footnote we are told that “about 45 percent of these were foreclosure or short-sale transactions.”
The end result is that markets rallied on favorable news coming from the housing market. Wow! The power of the pen.
References:
AJC.com. http://www.ajc.com/services/content/printedition/2009/03/11/jobs0311.html
Reuters. http://www.reuters.com/article/domesticNews/idUSTRE52M3MS20090323
According to AJC.com, “February jobless claims double a year ago.”
Reading between the media spin we find that “distressed sales accounted for 40-45 percent of transactions in February” and that “the median national home price declined 15.5 percent.” The Reuters article points clearly to the appreciable recovery of the market due to recent policies by the new administration. While gleaning over the increase in unemployment that is driving record high foreclosures, the reaction is that "this is a good report." The spin purports that “sales were up in all four regions.” As a footnote we are told that “about 45 percent of these were foreclosure or short-sale transactions.”
The end result is that markets rallied on favorable news coming from the housing market. Wow! The power of the pen.
References:
AJC.com. http://www.ajc.com/services/content/printedition/2009/03/11/jobs0311.html
Reuters. http://www.reuters.com/article/domesticNews/idUSTRE52M3MS20090323
Sunday, March 22, 2009
Friday, March 20, 2009
Wednesday, March 18, 2009
Tuesday, March 17, 2009
Geithner – I Just found Out!
Treasury Secretary Timothy Geithner has found himself at the center of attention yet again. Amidst revelations that AIG, one of the largest recipients of taxpayer rescue dollars, will be handing out tens of millions of dollars in bonuses, we are told that Mr. Geithner was unaware of such a fact until last week. According to the NY Times (March 16, 2009):
“Treasury and Fed officials said they knew that A.I.G. paid $55 million in bonuses in December.
But administration officials said that the Treasury secretary, Timothy F. Geithner, did not personally become aware until last week that an even bigger round of payments was due on March 15. Administration officials said Mr. Geithner learned of the deadline early last week, when the Federal Reserve Bank of New York alerted him that the bonus payments were coming due.”
One may find this revelation odd in light of understanding that Mr. Geithner was the principle architect of the AIG bailout last year while he was President of the NY Fed. According to the NY Post (September 18, 2008), “He's no household name just yet, but financial brainiac Tim Geithner could emerge as the economy's new superstar savior if his desperate gamble to rescue Wall Street works.” The author goes on to describe Geithner as the “quarterback” and “advisor” who rescued AIG from certain failure. In light of this reference, we might recommend that a quarterback who doesn’t know the plays may be better suited to ride the bench.
References
NY Post. September 18, 2008. Geithner Leads Rescue Team: NY Fed Chief at Center of Action. Available On-line at http://www.nypost.com/seven/09182008/business/geithner_leads_rescue_team_129667.htm
NY Times. March 16, 2009. Obama in Effort to Undo Bonuses at A.I.G. Available On-line at http://www.nytimes.com/2009/03/17/business/17bailout.html
Photo credit: WhiteHouse.gov
“Treasury and Fed officials said they knew that A.I.G. paid $55 million in bonuses in December.
But administration officials said that the Treasury secretary, Timothy F. Geithner, did not personally become aware until last week that an even bigger round of payments was due on March 15. Administration officials said Mr. Geithner learned of the deadline early last week, when the Federal Reserve Bank of New York alerted him that the bonus payments were coming due.”
One may find this revelation odd in light of understanding that Mr. Geithner was the principle architect of the AIG bailout last year while he was President of the NY Fed. According to the NY Post (September 18, 2008), “He's no household name just yet, but financial brainiac Tim Geithner could emerge as the economy's new superstar savior if his desperate gamble to rescue Wall Street works.” The author goes on to describe Geithner as the “quarterback” and “advisor” who rescued AIG from certain failure. In light of this reference, we might recommend that a quarterback who doesn’t know the plays may be better suited to ride the bench.
References
NY Post. September 18, 2008. Geithner Leads Rescue Team: NY Fed Chief at Center of Action. Available On-line at http://www.nypost.com/seven/09182008/business/geithner_leads_rescue_team_129667.htm
NY Times. March 16, 2009. Obama in Effort to Undo Bonuses at A.I.G. Available On-line at http://www.nytimes.com/2009/03/17/business/17bailout.html
Photo credit: WhiteHouse.gov
Monday, March 16, 2009
Friday, March 13, 2009
Thursday, March 12, 2009
Wednesday, March 11, 2009
Basic Instincts — Women’s Intuition
Traditionally, investing in precious metals has been a very male-oriented activity, with men making up 80 to 90 percent of the customer base. However, the ratio has begun to change. Now I’d have to say that no more than 60 percent of precious metals investors are men, which means that women are now closer to 40 percent of all those investing in precious metals.
That change is more than a shift; in fact, it’s practically a revolution.
I’d like to attribute this to women’s basic instincts. Most men should know by now that women tend to have better instincts than men when making decisions. While men tend to take greater risks in the investment world, women are more cautious with their investments. For example, you’ll find them seeking out institutional types of investments and government-backed securities like FDIC insured accounts, savings bonds, and treasury bills.
So, with the economy going down like the Titanic – and Congress and the Fed trying to steer it right back into the iceberg – it’s little surprise that women are looking to be even more cautious than usual and are reverting back to fundamentals.
It turns out that they have the right basic instincts.
Anyone paying attention knows the score: unfunded liabilities, ballooning budget numbers, increased government spending, massive deficits. I won’t bore you with the numbers, but as former U.S. Comptroller General David M. Walker has been saying, the numbers are all big and they’re all bad. The worst of it is not that these numbers are horrific (they are!), but that they’re being reported by the very same foxes who are watching the henhouse. At best, it should cause us to view the numbers with great skepticism if not outright suspicion.
In his book, The Tipping Point, Malcolm Gladwell describes a tipping point as “the levels at which the momentum for change becomes unstoppable."
If you have been saving for a rainy day, the storm is upon us. The winds are swirling, momentum is building, and people are sensing that it’s going to get a lot worse. That’s why prices of most commodities – including oil – have fallen off even when world currencies are taking it on the chin. And that’s also why we see gold and silver prices at or near record highs whether you measure them in euros or Swiss francs. And precious gold recently bounced off its all-time high in terms of dollars.
Women intuitively see that this country’s economy has reached a tipping point. Something different is clearly going to happen, and, being the more risk-averse gender, they’re counting on the historical assurance of gold and silver as a means to preserve wealth. Echoing the quote attributed to Mark Twain, they are more concerned about the return of their money than the return on their money.
From: Precious Metals Monthly
That change is more than a shift; in fact, it’s practically a revolution.
I’d like to attribute this to women’s basic instincts. Most men should know by now that women tend to have better instincts than men when making decisions. While men tend to take greater risks in the investment world, women are more cautious with their investments. For example, you’ll find them seeking out institutional types of investments and government-backed securities like FDIC insured accounts, savings bonds, and treasury bills.
So, with the economy going down like the Titanic – and Congress and the Fed trying to steer it right back into the iceberg – it’s little surprise that women are looking to be even more cautious than usual and are reverting back to fundamentals.
It turns out that they have the right basic instincts.
Anyone paying attention knows the score: unfunded liabilities, ballooning budget numbers, increased government spending, massive deficits. I won’t bore you with the numbers, but as former U.S. Comptroller General David M. Walker has been saying, the numbers are all big and they’re all bad. The worst of it is not that these numbers are horrific (they are!), but that they’re being reported by the very same foxes who are watching the henhouse. At best, it should cause us to view the numbers with great skepticism if not outright suspicion.
In his book, The Tipping Point, Malcolm Gladwell describes a tipping point as “the levels at which the momentum for change becomes unstoppable."
If you have been saving for a rainy day, the storm is upon us. The winds are swirling, momentum is building, and people are sensing that it’s going to get a lot worse. That’s why prices of most commodities – including oil – have fallen off even when world currencies are taking it on the chin. And that’s also why we see gold and silver prices at or near record highs whether you measure them in euros or Swiss francs. And precious gold recently bounced off its all-time high in terms of dollars.
Women intuitively see that this country’s economy has reached a tipping point. Something different is clearly going to happen, and, being the more risk-averse gender, they’re counting on the historical assurance of gold and silver as a means to preserve wealth. Echoing the quote attributed to Mark Twain, they are more concerned about the return of their money than the return on their money.
From: Precious Metals Monthly
Tuesday, March 10, 2009
International Property Rights
As the world gets smaller as a result of improved transportation, logistics, and communication capabilities, the rights of proprietary products and concepts comes into question on a global scale. The debate over the property rights of patents, copyrights, trademarks, and trade secrets have traditionally taken place within the confines of each national legislature. Multinational organizations, intent on protecting these properties as they conduct business across borders, demand collusion on the part of international agencies and participating nations.
According to Lascu (2008), “violation of intellectual property rights is the most significant threat to competitiveness of companies involved in international business” (p. 46). The organization or the inventor of a product, for example, is protected against replication of that product by a patent. The protection of a patent is currently afforded to those operating within the jurisdiction of the patent office that issues that patent. In order to prevent the loss of this valuable property, global trade regulators must act to create a single standard. Similar challenges are held in the protection of arts and music along with other proprietary organizational property.
While counterfeit property is somewhat rare within the United States, those of us who have traveled abroad can attest to the rampant availability of such merchandise abroad. Walk through the old streets of Dubai, for example, and you will be offered many a fine “Rolex” watch. The lack of enforcement of trademark protection is directly affecting the Rolex company. In addition, many consumers purchase such counterfeit products under the assumption that the product will have been constructed with the same care and authenticity as the original. In order to protect both consumers and corporations from purveyors of counterfeit goods, enforcement must take such vendors off the streets around the world.
According to Lascu (2008), “violation of intellectual property rights is the most significant threat to competitiveness of companies involved in international business” (p. 46). The organization or the inventor of a product, for example, is protected against replication of that product by a patent. The protection of a patent is currently afforded to those operating within the jurisdiction of the patent office that issues that patent. In order to prevent the loss of this valuable property, global trade regulators must act to create a single standard. Similar challenges are held in the protection of arts and music along with other proprietary organizational property.
While counterfeit property is somewhat rare within the United States, those of us who have traveled abroad can attest to the rampant availability of such merchandise abroad. Walk through the old streets of Dubai, for example, and you will be offered many a fine “Rolex” watch. The lack of enforcement of trademark protection is directly affecting the Rolex company. In addition, many consumers purchase such counterfeit products under the assumption that the product will have been constructed with the same care and authenticity as the original. In order to protect both consumers and corporations from purveyors of counterfeit goods, enforcement must take such vendors off the streets around the world.
Monday, March 9, 2009
Case Study: Zhang National Steel Company
Encouraged by the beckoning of national leaders, China quickly became the world’s greatest steel producing nation by 1996. Ten years later, China accounted for over a third of the worlds steel production. This surge of production quickly surpassed domestic needs and began to overflow into a skeptical and mature international market. Other nations, frightened by the prospects of losing jobs to foreign steel manufactures began to erect barriers and tariffs. With so many citizens laboring in this industry and so much invested in its infrastructure, it is vital that China begin to successfully market its steel in the global marketplace. If China cannot maintain its enormous steel industry, unemployment rates will surge and instability will likely result. The challenge has become one of geopolitical stability that must be addressed immediately.
Adam Smith (1776) asserted that, “if a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage” (p. 422). The benefits of free trade have been widely lauded by economists around the globe. The irony in the challenge of the Chinese steel manufactures is that they must argue in favor of less regulation while the United States and Europe stand as the opposition. China is capable of producing a desirable product at a cost significantly lower than competitors due to advantages in labor costs and existing infrastructure. Additionally, China benefits from production centers that are largely populated near ports and open shipping lanes. The challenge required for these organizations to overcome is finding nations willing to open their ports to free trade.
The solution to China’s steel surplus is to aggressively market their products abroad. This solution will take the form of a geocentric orientation with global marketing. According to Lascu (2008), “The objective of a geocentric company is most often to achieve a position as a low-cost manufacturer and marketer of its product line; such a firm achieves a strategic competitive advantage by developing manufacturing processes that add more value per unit cost to the final product that its rivals” (p. 9). China must now work to aggressively market its steel in India, the United States, and Europe.
India, a billion strong and rapidly growing, produces less than ten percent the amount of steel produced in China. While reviewing the strengths-opportunities block of the SWOT, we discover that India, with ample ports and growing demand, is a market that China needs to pursue. In order to overcome protectionism in the United States and Europe, China will present the facts and recruit talented economists to highlight the benefits of embracing free trade. Allowing cheaper, imported Chinese steel will ensure the cost of construction is cheaper for Americans and Europeans in the future. The success or failure of Chinese steel producers will rely on their ability to reacquaint the British and the Americans with one of their favored sons – Adam Smith.
References
Lascu, Dana-Nicoleta. 2008. International Marketing (3rd ed.). Mason, OH: Cengage
Learning.
Smith, Adam. 1776. An Inquiry into the Nature and Causes of the Wealth of Nations, 2 Vols., Everyman's Library (London: Dent & Sons, 1904), Vol. I.
Adam Smith (1776) asserted that, “if a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage” (p. 422). The benefits of free trade have been widely lauded by economists around the globe. The irony in the challenge of the Chinese steel manufactures is that they must argue in favor of less regulation while the United States and Europe stand as the opposition. China is capable of producing a desirable product at a cost significantly lower than competitors due to advantages in labor costs and existing infrastructure. Additionally, China benefits from production centers that are largely populated near ports and open shipping lanes. The challenge required for these organizations to overcome is finding nations willing to open their ports to free trade.
The solution to China’s steel surplus is to aggressively market their products abroad. This solution will take the form of a geocentric orientation with global marketing. According to Lascu (2008), “The objective of a geocentric company is most often to achieve a position as a low-cost manufacturer and marketer of its product line; such a firm achieves a strategic competitive advantage by developing manufacturing processes that add more value per unit cost to the final product that its rivals” (p. 9). China must now work to aggressively market its steel in India, the United States, and Europe.
India, a billion strong and rapidly growing, produces less than ten percent the amount of steel produced in China. While reviewing the strengths-opportunities block of the SWOT, we discover that India, with ample ports and growing demand, is a market that China needs to pursue. In order to overcome protectionism in the United States and Europe, China will present the facts and recruit talented economists to highlight the benefits of embracing free trade. Allowing cheaper, imported Chinese steel will ensure the cost of construction is cheaper for Americans and Europeans in the future. The success or failure of Chinese steel producers will rely on their ability to reacquaint the British and the Americans with one of their favored sons – Adam Smith.
References
Lascu, Dana-Nicoleta. 2008. International Marketing (3rd ed.). Mason, OH: Cengage
Learning.
Smith, Adam. 1776. An Inquiry into the Nature and Causes of the Wealth of Nations, 2 Vols., Everyman's Library (London: Dent & Sons, 1904), Vol. I.
Friday, March 6, 2009
Trying to Duplicate Conditions of 1930
The Obama administration released trade policy agenda this week leaving investors short on details and long on speculation. The 2009 Trade Policy Agenda fell short of declaring the outright refutation of free trade, however failed to declare any strong support for such an agenda. Obama has repeatedly emphasized the need for the United States to work toward making trade "fairer" rather than freer. While nations around the world await the direction of the administration on this front, investors have reacted with understandable trepidation.
As the administration has taken over a slumping economy, many have been reticent to hastily condemn the actions of President Obama. In his few short months, having increased taxes and virtually ignored the illiquidity of credit markets while moving on to health care reform, observers await the final strike that could exactly duplicate conditions that shifted the United States from a recession to the Great Depression in 1930. The infamous Hawley-Smoot provisions await reproduction. If the circumstances were not so dire the pure foolishness might otherwise seem laughable. Does anyone think the Obama administration will not turn towards protectionism when unemployment hits 10%?
As the administration has taken over a slumping economy, many have been reticent to hastily condemn the actions of President Obama. In his few short months, having increased taxes and virtually ignored the illiquidity of credit markets while moving on to health care reform, observers await the final strike that could exactly duplicate conditions that shifted the United States from a recession to the Great Depression in 1930. The infamous Hawley-Smoot provisions await reproduction. If the circumstances were not so dire the pure foolishness might otherwise seem laughable. Does anyone think the Obama administration will not turn towards protectionism when unemployment hits 10%?
Thursday, March 5, 2009
Wednesday, March 4, 2009
Tuesday, March 3, 2009
Monday, March 2, 2009
A Sample of the 9,287 Omnnibus Bill Earmarks
Amount
Recipient/Purpose
Congressional Sponsor
$1,049,000
Mormon Crickets, Utah
Bennett
$475,000
Sidewalk Construction in Ashland & Cherryland, CA
Lee
$225,000
Everybody Wins!
LaHood
$200,000
Tattoo removal program in Mission Hills, CA
Berman
$190,000
Buffalo Bill Historical Center, Cody, WY
Cubin
$237,500
Theater renovation, Merced, CA
Cardoza
$75,000
Totally Teen Zone, Albany, GA
Bishop, Chambliss
$500,000
National History Day
Several Lawmakers
$570,000
Ronald Reagan Parkway, Boone County, IN
Buyer
$100,000
Gulf of Maine Lobster Foundation
Allen, Snowe, Collins
$332,500
Build a school sidewalk, Franklin, TX
Edwards (TX)
$381,000
George Eastman House, Rochester, NY
Slaughter, Schumer
$380,600
Versailles Borough Stray Gas Mitigation
Doyle (PA)
$75,000
Wayne Gomes Youth Baseball Diversity Foundation
Scott
$381,000
Jazz at Lincoln Center, New York, NY
Nadler
$5,813,000
Edward M. Kennedy Institute for the Senate, Boston, MA
Kerry, Byrd, Harkin, Durbin, Mikulski, Dodd
$950,000
Bus and Bus Facilities, Lawrence, KS
Moore, Roberts
$300,000
Montana World Trade Center
Rehberg
$2,673,000
Wood Education and Resource Center
President, Byrd
$380,000
Lemon Street Reconstruction and Enhancements, FL
Bilirakis
$17,500,000
FDR Presidential Library renovation
Gillibrand, Reid, Schumer
$2,000,000
LBJ Presidential Library
Hutchison
$22,000,000
JFK Presidential Library
Markey, Lynch, Kerry
$300,000
GoGirlGo! Boston, MA
Capuano, Kennedy, Kerry
$285,000
Kansas Farm Bureau, Manhattan, KS
Brownback
$6,838,000
John F. Kennedy Center for the Performing Arts
Several Lawmakers
$427,500
Bicycle/Pedestrian Pathways, Provo, UT
Cannon, Hatch
$950,000
World Trade Center of St. Louis, MO
Bond
$725,000
Illinois Height Modernization
Johnson (IL), LaHood
$298,257
Small business program, Florida Department of Citrus
Boyd, Putnam, Martinez
$237,500
Sidewalk Construction, Vienna, VA
Davis (VA)
$190,000
Bishop Museum, Honolulu, HI
Inouye
$100,000
Police Athletic League of Buffalo, Inc
Slaughter
$206,000
Wool Research
Conaway, Rodriguez (TX)
$475,000
5th & Market St. Transportation Improvements, PA
Specter
$494,000
Business incubator, Arkansas State University
Berry, Lincoln, Pryor
$400,000
Salisbury House, Des Moines, IA
Harkin, Grassley, Boswell
$138,000
John Nance Garner Museum, Austin, TX
Rodriguez (TX)
$190,000
Sidewalk Improvements, Williamstown, VT
Leahy, Sanders
$870,000
Red Wolf Breeding Facility Relocation
Shuler
$190,000
George C. Wallace Community College-Dothan, AL
Everett
$142,500
Pregones Theater, Bronx, NY
Serrano
$6,623,000
Formosan Subterranean Termites Research
Landrieu, Vitter, Alexander
$1,903,000
Landfill Gas Utilization Plant in NY
Schumer
$475,000
Replacement of Bus Fleet, Topeka, KS
Boyda
$285,000
Widening of County Road 222, Cullman, AL
Aderholt
$2,192,000
Center for Grape Genetics, Geneva, NY
Schumer, Walsh, Hinchey, Arcuri
$1,791,000
Swine Odor and Manure Management Research, Ames, IA
Harkin
$950,000
Bossier Parish Congestion Relief Plan, LA
Landrieu, Vitter
$712,500
Replacement Buses, Detroit, MI
Conyers, Levin, Stabenow
$4,545,000
Wood Utilization Research
Several Lawmakers
$200,000
Oil Region Alliance
Peterson (PA)
$2,565,000
Renovate the Cox Building, Maysville, KY
McConnell, Davis (KY)
$400,000
Minnesota Teen Challenge
Ramstad, Coleman
$190,000
Berkshire Theater Festival, Stockbridge, MA
Kennedy, Kerry
$4,750,000
Shiloh Road, MT
Baucus, Tester
$143,000
American Ballet Theatre, New York, NY
Maloney, Schumer
$100,000
Ready, Willing & Able, Philadelphia, PA
Brady (PA)
$250,000
Lederer Theater, Providence, RI
Reed
$1,187,500
Wolf Trap Performing Arts Multi-Use Trail, Fairfax, VA
Moran
$3,800,000
Old Tiger Stadium Conservancy, MI
Levin
$294,500
Jackie Joyner-Kersee Center, East St. Louis, IL
Durbin
$143,000
Historic Jazz Foundation, Inc., Kansas City, MO
Cleaver, Emanuel
$1,000,000
Cal Ripken, Sr. Foundation
Ruppersberger, Mikulski, Shelby
$237,500
Street Rehabilitation, Doral, FL
Diaz-Balart (Lincoln)
$49,134
Bronx Council on the Arts
Serrano
$475,000
Pedestrian Bridges, Iowa City, IA
Loebsack
$167,000
Autry National Center for the American West, Los Angeles, CA
Schiff, McKeon, Bono, Boxer
$315,000
Music education, Carnegie Hall, New York, NY
Maloney, Schumer
$122,821
Greater Toledo Arts Commission
Kaptur
$950,000
55th Street East Grade Separation, Minot, ND
Dorgan, Conrad
$951,500
Energy Efficiency Street Lighting, Detroit, MI
Kilpatrick, Levin, Stabenow
$143,000
Stockbridge-Munsee Museum, Bowler, WI
Kagen
$475,000
Italian American Museum, New York, NY
Ackerman, Nadler
$1,217,000
Citrus Canker, Greening, FL
Several Lawmakers
$900,000
Adler Planetarium and Astronomy Museum, Chicago, IL
Jackson, Jr., Emanuel, Davis (IL)
$142,500
Bus Replacement, Culver City, CA
Watson
$2,150,000
Wisconsin Height Modernization
Obey
$1,900,000
Hattiesburg 4th Street Improvements, MS
Cochran, Wicker
$71,000
Dance Theater Etcetera, Brooklyn, NY
Velázquez
$333,000
Museum of Aviation, Warner Robins, GA
Marshall (GA), Isakson
$1,235,000
Reconstruction and Upgrade 2300 West Street, Lehi, UT
Hatch, Cannon
$380,000
Revitalize Aliceville, AL
Shelby
$150,000
Nashua Police Athletic League Youth Safe Haven
Hodes, Gregg
$237,500
Paving, sidewalks and streetlights, Islip, NY
Israel
$238,000
Museum of Fine Arts, Boston, MA
Kennedy, Kerry
$1,425,000
I-85 Widening, NC
Burr, Dole, Hayes, Watt
$285,000
Sun Valley Lighting Project, CA
Berman
$119,000
Children's Discovery Museum, San Jose, CA
Honda, Lofgren
$385,000
World Trade Center Utah
Bishop (UT), Bennett
$300,000
Shakespeare and Company
Olver, Kennedy, Kerry
$476,000
National Council of La Raza in Washington, DC,
Menendez, Bingaman
$508,000
Karnal Bunt, Manhattan, KS
Brownback, Roberts, Moran, Boyda, Tiahrt
$300,000
Fairplex Trade and Conference Center
Dreier, Napolitano
$237,500
SR-91 Congestion Relief, Orange County, CA
Miller (CA)
$380,000
Construction of On/Off Ramps, Midland, TX
Conaway
$380,600
Carbon Neutral Green Campus, NV
Porter, Reid
$150,000
Manufacturers Association of Central New York
Walsh
$475,000
Calhoun County Highway 1 Resurfacing, IL
Hare
$45,000
Weed It Now on the Berkshire, MA
Olver
$24,000
A+ For Abstinence, Waynesboro, PA
Specter
$819,000
Catfish Genome, Auburn, AL
Shelby, Rogers (AL), Everett, Davis (AL)
$196,514
Beaver Street Enterprise Center, Jacksonville, FL
Brown (FL), Martinez
$75,000
Chattahoochee County Family Connection
Bishop
$2,188,450
Bismarck State College Center Of Excellence Laboratories, ND
Dorgan
$469,000
Fruit fly facility, HI
Akaka, Inouye, Hirono
$800,000
Oyster rehabilitation, AL
Shelby
$238,000
Ed Roberts Campus, Berkeley, CA
Boxer
$475,000
55th Street Extension, Rochester, MN
Donnelly, Lugar
Source: Conference Report of HR 1105
Recipient/Purpose
Congressional Sponsor
$1,049,000
Mormon Crickets, Utah
Bennett
$475,000
Sidewalk Construction in Ashland & Cherryland, CA
Lee
$225,000
Everybody Wins!
LaHood
$200,000
Tattoo removal program in Mission Hills, CA
Berman
$190,000
Buffalo Bill Historical Center, Cody, WY
Cubin
$237,500
Theater renovation, Merced, CA
Cardoza
$75,000
Totally Teen Zone, Albany, GA
Bishop, Chambliss
$500,000
National History Day
Several Lawmakers
$570,000
Ronald Reagan Parkway, Boone County, IN
Buyer
$100,000
Gulf of Maine Lobster Foundation
Allen, Snowe, Collins
$332,500
Build a school sidewalk, Franklin, TX
Edwards (TX)
$381,000
George Eastman House, Rochester, NY
Slaughter, Schumer
$380,600
Versailles Borough Stray Gas Mitigation
Doyle (PA)
$75,000
Wayne Gomes Youth Baseball Diversity Foundation
Scott
$381,000
Jazz at Lincoln Center, New York, NY
Nadler
$5,813,000
Edward M. Kennedy Institute for the Senate, Boston, MA
Kerry, Byrd, Harkin, Durbin, Mikulski, Dodd
$950,000
Bus and Bus Facilities, Lawrence, KS
Moore, Roberts
$300,000
Montana World Trade Center
Rehberg
$2,673,000
Wood Education and Resource Center
President, Byrd
$380,000
Lemon Street Reconstruction and Enhancements, FL
Bilirakis
$17,500,000
FDR Presidential Library renovation
Gillibrand, Reid, Schumer
$2,000,000
LBJ Presidential Library
Hutchison
$22,000,000
JFK Presidential Library
Markey, Lynch, Kerry
$300,000
GoGirlGo! Boston, MA
Capuano, Kennedy, Kerry
$285,000
Kansas Farm Bureau, Manhattan, KS
Brownback
$6,838,000
John F. Kennedy Center for the Performing Arts
Several Lawmakers
$427,500
Bicycle/Pedestrian Pathways, Provo, UT
Cannon, Hatch
$950,000
World Trade Center of St. Louis, MO
Bond
$725,000
Illinois Height Modernization
Johnson (IL), LaHood
$298,257
Small business program, Florida Department of Citrus
Boyd, Putnam, Martinez
$237,500
Sidewalk Construction, Vienna, VA
Davis (VA)
$190,000
Bishop Museum, Honolulu, HI
Inouye
$100,000
Police Athletic League of Buffalo, Inc
Slaughter
$206,000
Wool Research
Conaway, Rodriguez (TX)
$475,000
5th & Market St. Transportation Improvements, PA
Specter
$494,000
Business incubator, Arkansas State University
Berry, Lincoln, Pryor
$400,000
Salisbury House, Des Moines, IA
Harkin, Grassley, Boswell
$138,000
John Nance Garner Museum, Austin, TX
Rodriguez (TX)
$190,000
Sidewalk Improvements, Williamstown, VT
Leahy, Sanders
$870,000
Red Wolf Breeding Facility Relocation
Shuler
$190,000
George C. Wallace Community College-Dothan, AL
Everett
$142,500
Pregones Theater, Bronx, NY
Serrano
$6,623,000
Formosan Subterranean Termites Research
Landrieu, Vitter, Alexander
$1,903,000
Landfill Gas Utilization Plant in NY
Schumer
$475,000
Replacement of Bus Fleet, Topeka, KS
Boyda
$285,000
Widening of County Road 222, Cullman, AL
Aderholt
$2,192,000
Center for Grape Genetics, Geneva, NY
Schumer, Walsh, Hinchey, Arcuri
$1,791,000
Swine Odor and Manure Management Research, Ames, IA
Harkin
$950,000
Bossier Parish Congestion Relief Plan, LA
Landrieu, Vitter
$712,500
Replacement Buses, Detroit, MI
Conyers, Levin, Stabenow
$4,545,000
Wood Utilization Research
Several Lawmakers
$200,000
Oil Region Alliance
Peterson (PA)
$2,565,000
Renovate the Cox Building, Maysville, KY
McConnell, Davis (KY)
$400,000
Minnesota Teen Challenge
Ramstad, Coleman
$190,000
Berkshire Theater Festival, Stockbridge, MA
Kennedy, Kerry
$4,750,000
Shiloh Road, MT
Baucus, Tester
$143,000
American Ballet Theatre, New York, NY
Maloney, Schumer
$100,000
Ready, Willing & Able, Philadelphia, PA
Brady (PA)
$250,000
Lederer Theater, Providence, RI
Reed
$1,187,500
Wolf Trap Performing Arts Multi-Use Trail, Fairfax, VA
Moran
$3,800,000
Old Tiger Stadium Conservancy, MI
Levin
$294,500
Jackie Joyner-Kersee Center, East St. Louis, IL
Durbin
$143,000
Historic Jazz Foundation, Inc., Kansas City, MO
Cleaver, Emanuel
$1,000,000
Cal Ripken, Sr. Foundation
Ruppersberger, Mikulski, Shelby
$237,500
Street Rehabilitation, Doral, FL
Diaz-Balart (Lincoln)
$49,134
Bronx Council on the Arts
Serrano
$475,000
Pedestrian Bridges, Iowa City, IA
Loebsack
$167,000
Autry National Center for the American West, Los Angeles, CA
Schiff, McKeon, Bono, Boxer
$315,000
Music education, Carnegie Hall, New York, NY
Maloney, Schumer
$122,821
Greater Toledo Arts Commission
Kaptur
$950,000
55th Street East Grade Separation, Minot, ND
Dorgan, Conrad
$951,500
Energy Efficiency Street Lighting, Detroit, MI
Kilpatrick, Levin, Stabenow
$143,000
Stockbridge-Munsee Museum, Bowler, WI
Kagen
$475,000
Italian American Museum, New York, NY
Ackerman, Nadler
$1,217,000
Citrus Canker, Greening, FL
Several Lawmakers
$900,000
Adler Planetarium and Astronomy Museum, Chicago, IL
Jackson, Jr., Emanuel, Davis (IL)
$142,500
Bus Replacement, Culver City, CA
Watson
$2,150,000
Wisconsin Height Modernization
Obey
$1,900,000
Hattiesburg 4th Street Improvements, MS
Cochran, Wicker
$71,000
Dance Theater Etcetera, Brooklyn, NY
Velázquez
$333,000
Museum of Aviation, Warner Robins, GA
Marshall (GA), Isakson
$1,235,000
Reconstruction and Upgrade 2300 West Street, Lehi, UT
Hatch, Cannon
$380,000
Revitalize Aliceville, AL
Shelby
$150,000
Nashua Police Athletic League Youth Safe Haven
Hodes, Gregg
$237,500
Paving, sidewalks and streetlights, Islip, NY
Israel
$238,000
Museum of Fine Arts, Boston, MA
Kennedy, Kerry
$1,425,000
I-85 Widening, NC
Burr, Dole, Hayes, Watt
$285,000
Sun Valley Lighting Project, CA
Berman
$119,000
Children's Discovery Museum, San Jose, CA
Honda, Lofgren
$385,000
World Trade Center Utah
Bishop (UT), Bennett
$300,000
Shakespeare and Company
Olver, Kennedy, Kerry
$476,000
National Council of La Raza in Washington, DC,
Menendez, Bingaman
$508,000
Karnal Bunt, Manhattan, KS
Brownback, Roberts, Moran, Boyda, Tiahrt
$300,000
Fairplex Trade and Conference Center
Dreier, Napolitano
$237,500
SR-91 Congestion Relief, Orange County, CA
Miller (CA)
$380,000
Construction of On/Off Ramps, Midland, TX
Conaway
$380,600
Carbon Neutral Green Campus, NV
Porter, Reid
$150,000
Manufacturers Association of Central New York
Walsh
$475,000
Calhoun County Highway 1 Resurfacing, IL
Hare
$45,000
Weed It Now on the Berkshire, MA
Olver
$24,000
A+ For Abstinence, Waynesboro, PA
Specter
$819,000
Catfish Genome, Auburn, AL
Shelby, Rogers (AL), Everett, Davis (AL)
$196,514
Beaver Street Enterprise Center, Jacksonville, FL
Brown (FL), Martinez
$75,000
Chattahoochee County Family Connection
Bishop
$2,188,450
Bismarck State College Center Of Excellence Laboratories, ND
Dorgan
$469,000
Fruit fly facility, HI
Akaka, Inouye, Hirono
$800,000
Oyster rehabilitation, AL
Shelby
$238,000
Ed Roberts Campus, Berkeley, CA
Boxer
$475,000
55th Street Extension, Rochester, MN
Donnelly, Lugar
Source: Conference Report of HR 1105
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