Optimism dropped among small business owners, reports Kathleen Madigan at the Wall Street Journal's Real Time Economics. The index, tracked by the National Federation of Independent Businesses, showed a decline in both April and March:
The report said the weak economy and political uncertainty were dimming the outlook. The drags mentioned by NFIB members included the government deficit, a potential inflation threat, and rising gas prices. The subindex of expected business conditions in the next six months fell 3 percentage points to -8%, and the expected higher real sales index slipped 1 point to 5%.
High-speed rail
At Infrastructurist Eric Jaffe reminds us that, just as some are now complaining about federal rail investment, rail interests once complained about federal highway investment. The more things change, the more they stay the same:
All seemed to be going well after the Senate voted to create the motorways commission on May 7, 1930. Then suddenly the legislation ran into problems. The House of Representatives trapped its version of the bill in a committee, and New York lawmakers did the same. Attempts to revive the plan in subsequent sessions, both federal and local, failed again and again, until the idea faded away. [New York congressman John] Tilson later revealed to [engineer and highway booster Lester] Barlow the real reason for legislative inaction on the proposal for a national highway system: it had been blocked by the mighty railroad lobby, which feared the loss of passengers and freight to road travel. This reason was confirmed to Barlow at a gathering of New Haven Railroad officials in the fall of 1930. As Barlow later recalled, John J. Pelley, then president of the New Haven, told those in attendance that a poor highway system was in the railroad’s best interest, and that it should do whatever it “practically” could to prevent the development of expressways in America.
Monroe County
Monroe County Executive Maggie Brooks gave her State of the County address last night, and Jill Terreri at the Democrat and Chronicle reports that the address was an entrée to her yet-to-be-announced reelection bid:
Brooks reminded the audience of her administration's decision to allow the state to intercept part of its sales tax revenue to pay for Medicaid, a decision that has saved nearly $40 million since 2008. Brooks criticized state policymakers for overspending, and said the county has done its part to keep the tax rate flat, but acknowledged that the local economy has room to improve. Brooks emphasized the importance of private sector growth, and introduced a program that will give companies $4,000 in cash financed by the county's industrial development agency for each new worker they hire and train.
Optics
Optics industry professionals - about 1,700 - are descending on Rochester this week for Optifab 2011, a biannual optics trade show. Matt Daneman reports at the Democrat and Chronicle that attendance at this year's event is up slightly over 2009:
The variety of technical presentations and exhibits by optics manufacturers and suppliers are aimed at the people who are hands-on responsible for turning out precision glass and polymer optics, said [conference chairman Jay] Kumler, who also is president of Jenoptik Optical Systems, a custom optics manufacturer in Florida. Among the 150-plus exhibitors are most of the Rochester area's optics manufacturers, as well as companies from around the United States and from Singapore, Russia, Germany and Japan.
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