tombianco’s posterous

2009-12-08 14:29:38.0Japan,stimulus,package,economy,recession,PM11021342Global Biz2@webnews/enpproperty-->

World Bank President Robert Zoellick (L) meets Japanese Prime Minister Yukio Hatoyama at the latter's official residence in Tokyo December 7, 2009. [Agencies]

TOKYO: Japan's government on Tuesday unveiled a new stimulus package worth nearly $81 billion to keep the fragile recovery in the world's second-biggest economy from veering off track.

Prime Minister Yukio Hatoyama and his Cabinet agreed to 7.2 billion yen ($80.6 billion) in new spending after days of negotiations with coalition partners. The announcement had been expected on Friday but was delayed by disagreements.

Related readings:  Japan PM's support below 60% as coalition bickers  Japan party threatens to leave govt over US base  Bank of Japan hopes loan program lifts economy  Japan firms may buy more overseas assets as yen gains  Japan consumers go frugal, green as economy sags

The package is Hatoyama's first major policy deal since his Democratic Party swept into power this summer promising help for workers and families. Since then, the country's economic turnaround has been under threat from intensifying deflation and a strong yen.

After enduring its worst recession since World War II, Japan's economy grew for the second straight quarter in the July-September period, expanding at an annualized pace of 4.8 percent. It was the strongest growth in more than two years thanks to previous stimulus measures and improvement in global demand.

But with consumer prices falling for the eighth month in October, the government has grown increasingly concerned about prolonged deflation.

Declining prices, which plagued Japan during its "Lost Decade" in the 1990s, can hamper economic growth by depressing company profits, sparking wage cuts and causing consumers to postpone purchases. It also can increase debt burdens.

Compounding worries is the yen, which surged to a fresh 14-year high against the dollar recently.

The package includes measures to bolster employment, extend consumer incentives to buy eco-friendly products and provide support for small and medium-size firms hurt by the strong yen.

The measures will be financed by the second extra budget for this fiscal year through March 31. Finance Minister Hirohisa Fujii said he expects the Cabinet to approve the supplementary budget next week.

FILE - In this Nov. 2, 2005, file photo, the Silverdome is seen in Pontiac, Mich. A judge has cleared the way for the city to sell the stadium that was once home to the NFL's Detroit Lions to a Canadian company for $583,000. The Lions abandoned the 80,300-seat Silverdome in 2002, when they moved to Detroit's Ford Field. Pontiac has been spending $1.5 million a year to maintain the largely unused stadium. (AP Photo/Paul Sancya, File)

See Clay Parker I told you I knew what i was talking about.

Q100’s Bert Show goes on campaign against the phrase ‘Hotlanta’

8:38 am November 18, 2009, by Rodney Ho

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I have noticed it over the years that people who don’t live in Atlanta will often refer to our lovely city as “Hotlanta,” thinking they were cool. In fact, they always act as if they’re “in the know” by saying it. Truth is: we never say it. Ever. Except to make fun of folks who say “Hotlanta.”

Earlier this month, I heard actress, D.C. native and cohost Taraji Henson (left, with Terrence Howard) say it at the Soul Train Awards, airing Nov. 29 on BET and Centric. I mocked her in my blog.

Anyway, Q100’s Bert Show has decided to take this important issue head on. They are asking their listeners and celebrities to tell outsiders not to say that term on penalty of eye rolls and sighs.

The morning show already told part-time Atlantan Janet Jackson to spread the word and she agreed to pass it on to Jermaine Dupri. Jeff Dauler saw Jordan Knight (New Kids on the Block) referencing the city that way in a Tweet and plans to straighten him out Friday when he comes in studio. They hope to get former Atlantan John Mayer to tell his huge Twitter following (2.6 million) to back off.

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