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Business

Pace of Recovery Dismal According to Top Economist

CARROLLTON, GA -- The economy is improving, albeit at a disappointingly lethargic pace, according to the chief economist of the U.S. Chamber of Commerce.

Martin Regalia offered that assessment at the annual University of West Georgia Economic Forecast Breakfast on Tuesday, Oct. 26.

"The good news is we're growing again.

Three Local Banks Closed By Federal Regulators

WASHINGTON (AP) - Regulators have shut down three Georgia banks and one each in New Jersey and Ohio, boosting to 124 the number of U.S. bank failures this year amid the tough economic climate and growing loan defaults.

The Federal Deposit Insurance Corp. on Friday took over the Georgia banks: Bank of Ellijay, in Ellijay, with $168.8 million in assets; First Commerce Community Bank of Douglasville, with $248.2 million in assets; and Peoples Bank, based in Winder, with $447.2 million in assets.

The FDIC also seized ISN Bank in Cherry Hill, N.J., with $81.6 million in assets, and Bramble Savings Bank of Milford, Ohio, with assets of $47.5 million.

WellStar Ranks in Top 10 of 100 Best Companies

MARIETTA, GA -- The Working Mother 100 Best Companies initiative has selected WellStar Health System as one of the nation's top 10 organizations for 2010.

"WellStar is committed to world-class healthcare while being an exceptional workplace," said David Anderson, executive vice-president of human resources and organizational learning/chief compliance officer for WellStar Health System. "Through competitive salaries, outstanding benefits, innovative work/life programs and our concierge service, we are nationally recognized as an employer of choice. Given that 83% of our workforce is female, we are honored to be a Working Mother top 10 company."

The 100 Best Companies' family programs adeptly help employees in all areas of their lives.

West Georgia RISEs to the Occasion

CARROLLTON, GA -- The University of West Georgia, along with the Carroll County Economic Development Foundation and the UWG Small Business Development Center, is creating the Resource for Innovation, Small business and Entrepreneurship (RISE) program.

The RISE program will create an online "incubator village" to assist entrepreneurs in Carroll, Coweta, Douglas, Haralson, Heard and Polk Counties. The goal of the program is to offer counseling, resource information exchange, distance learning opportunities and other information for local business owners on the program's website.

RISE will host three small business forums throughout the year, as well as provide online training. An estimated 2,500 small businesses in the West Georgia region will benefit from the RISE program's virtual village.

A celebration of the official announcement of the RISE program will take place at an Entrepreneur Excellence Banquet on Sept. 13 at 6:00 p.m.

American Shingle and Siding Shuts Its Doors

Thousands of homeowners have been left in the lurch by an Atlanta based roofing company.
It abruptly closed its doors after taking large deposits from homeowners for roofing jobs and not finishing the work.
Now our center for investigative action has learned a criminal investigation is underway.

The Bibb County Sheriff's Department in Macon has launched an investigation after American Shingle and Siding closed its doors earlier this month after taking large deposits from homeowners for roofing work. Captain Mike Smallwood said,""There will be criminal charges." He believe the company will be charged with theft by conversion.

The owner of American Shingle, Carlton DeWayne Dunko, says he did not deposit those checks and plans to return them. However, he said he had gotten into financial difficulty has was using new deposits to pay creditors rather than using the money to do the specific jobs that the deposits were for.