Indexes edge higher on Wall Street in early trading
by The Associated Press
May 21, 2013 | 34 views | 0 0 comments | 2 2 recommendations | email to a friend | print
NEW YORK (AP) — Stock indexes are edging higher in early trading on Wall Street as investors look ahead to the Federal Reserve's next moves. The Dow Jones industrial average was up 54 points at 15,390 shortly after the opening bell Tuesday, a gain of 0.4 percent. The Standard & Poor's 500 index was up four points at 1,670, or 0.2 percent. The Nasdaq composite was up three points at 3,499. JPMorgan rose 77 cents or 1.5 percent to $53.04. Shareholders are voting on a measure that would split the roles of chairman and CEO. Home Depot rose 3 percent, or $2.25, to $78.98 after the home improvement retailer reported an 18 percent increase in income for its first quarter as the housing market continued to recover.
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T-Ball Red Sox win league championship
by Staff reports
May 21, 2013 | 106 views | 0 0 comments | 2 2 recommendations | email to a friend | print
(Brad Easterwood/thepolkfishwrap.com)
(Brad Easterwood/thepolkfishwrap.com)
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The Cedartown Little League T-Ball Red Sox won the six-year-old league championship on Monday night. According to head coach Donnie Smith the team finished the year 13-1. Members of the championship team are Maylaisa Robinson, Taidgi Neal, Charlie Ward, Landry Atkins, Gabriel Atkins, Brayden Rooper, Bex Gray, Shandon Williams, Lucas Neal, Anderson Kinard, Rhys Smith and Carson Brooks. Joining Smith on the coach staff are Brandon Atkins, David Gray, Shandon Williams and Rodney Smith.
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Talks to begin soon on how to pay for new PMC sewer line
by Aimee H. Madden
May 21, 2013 | 265 views | 0 0 comments | 4 4 recommendations | email to a friend | print
Now that officials have been given cost options on the construction of a sewer line that would service the new proposed Polk Medical Center, discussion on how to move forward with the project is set to begin soon. But the ability to move forward on the $3 to $4 million-dollar undertaking is being bogged down by one question: Who is going to pay for it? The new $40 million dollar hospital is planned for the intersection of Hwy. 278 and Kelly Road. Currently, there is no sewer line service available to that area. Adding an extension to the existing line, which stops short of reaching the site of the new hospital by a mile, is not feasible because the current line is already at volume capacity. The only option is to install a new, larger line that will run from the city’s wastewater treatment plant on Branch Street, just behind Northwest Park, to the site of the proposed hospital -- a distance of five miles. The City of Cedartown began researching finance options last week, but there’s been no money set aside for the project. But that shouldn’t come as a surprise to anyone, Cedartown City Manager Bill Fann said. “We’ve said that since the beginning of discussions about the new hospital back in 2011,” Fann said speaking to the funding issue. The situation is much the same for Polk County, according to County Manager Matt Denton. Denton said the first time the county was officially approached about drumming up money for the project was just a few weeks ago via a letter sent by Harold Wyatt, Jr., chairman of the Cedartown-Polk County Hospital Authority and Polk Medical Center and Kurt Stuenkel, president and CEO of Polk Medical and Floyd Medical Center. “That was the first time they had asked, and the letter was asking for a firm commitment that we could provide it,” Denton said. “We’ve not done anything as far as looking at financing or funding and we don’t have plans to. None of the commissioners have gotten together and said ‘we need to sit down and do this,’ but I commend the city’s efforts in seeing what’s available.” Hospital officials are concerned that a lack of commitment from the two governmental agencies will result in a delay of the hospital’s construction timeline. In the April 26 letter, Wyatt and Stuenkel asked for an affirmation from Cedartown and Polk County officials that sewer infrastructure and service would be available on a timetable that would accommodate plans for construction of the new hospital. “It is our hope to break ground on July 23, 2013, with an anticipated completion date of September 1, 2014,” Stuenkel wrote. “If we are to proceed with construction of the new hospital, we need a prompt commitment from the city and county that sewer service will be available at the new site by March 15, 2014.” He noted that the construction timetable calls for the execution of the construction contract with Duffey/Brasfield by the end of May. Additionally, Stuenkel asked for a firm commitment from the city of Cedartown and Polk County to fund and timely construct the sewer line to the site within the hospital’s time-line. The City of Cedartown received one bid on the sewer line project from Powder Springs-based company Unity Construction. The bid listed three different sewer line size options with varying costs. The cost for the installation of an 8-inch sewer line would be $3.4 million; a 10-inch sewer line would cost $3.9 million and a 12-inch line checks in at $4 million. It has not yet been determined just how big the line should be. “Now that we’ve got the bid and have a solid figure on the cost, the next step is to sit down with everybody involved and discuss the options,” said Fann. During a recent meeting of the Polk County Board of Commissioners, commissioner Marshelle Thaxton said it was his understanding after meeting with planners years ago that the hospital would pay for the needed sewer work. In a signed November 2011 contract agreement regarding the terms of construction and funding of the new hospital between Floyd Healthcare Management, Inc., Polk Medical Center, Inc. (PMCI), and the Cedartown-Polk County Hospital Authority, a section on page 4 of that contract states in part that: “…. if public funding cannot be obtained for locating sewer or water lines to the replacement hospital site, Floyd or PMCI shall pay for location of said lines and shall deduct the related cost, including all engineering and consultant cost, plus interest at prime rate, from the PILOT (Payment In Lieu of Taxes) payment made by PMCI until either PMCI or Floyd is completely reimbursed.” PMCI, is a newly formed non-profit nine-member body that oversees the day-to-day operations of the current hospital and will continue in that role once the new hospital is complete. Last year, PMCI agreed to a Payment in Lieu of Taxes deal with Polk County and the City of Cedartown on behalf of the Cedartown-Polk County Hospital Authority. The agreement is for the five-year lease of the existing hospital, located on North Main Street, and during the course of 35 years, which includes the terms of the lease for the new hospital, once it is constructed. Since the property and buildings will still be legally owned by the Cedartown-Polk County Hospital Authority, a tax-exempt entity, Floyd agreed to the PILOT arrangement so the county would not lose any tax money. The agreement does not spell out a specific dollar figure. The payment in lieu of taxes for the existing facility will be equal to 40 percent of the book value of the property multiplied by the millage rate levied by Polk County and Cedartown, with the exception of education and welfare spending. Stuenkel sought to clarify the situation last Friday. He confirmed that PILOT funds, which would be paid by PMCI to Polk County and the City of Cedartown, could in fact be used to fund the sewer project if no other means of financing were available. “We have been in conversation with both the city and county about various ways to fund the sewer improvements,” Stuenkel said. “The payment of the PILOT is an annual decision of Cedartown-Polk County Hospital Authority. The thought of some is that if the city and county can find ways to fund the sewer in an advantageous way, that this then frees up future PILOT funds for other uses. If not, the PILOT is certainly an avenue that can be used, but it will be available only for the sewer until the cost to construct it is paid off.”
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China's Xi will meet Obama earlier than expected
by CHRISTOPHER BODEEN, Associated Press
May 21, 2013 | 82 views | 0 0 comments | 2 2 recommendations | email to a friend | print
FILE: In this May 6, 2013 file phot, China's President Xi Jinping, shakes hands with his Palestinian counterpart Mahmoud Abbas, unseen, during a signing ceremony at the Great Hall of the People in Beijing, China. (AP Photo/Jason Lee, Pool, File)
FILE: In this May 6, 2013 file phot, China's President Xi Jinping, shakes hands with his Palestinian counterpart Mahmoud Abbas, unseen, during a signing ceremony at the Great Hall of the People in Beijing, China. (AP Photo/Jason Lee, Pool, File)
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BEIJING (AP) -- China's new leader Xi Jinping will confer with President Barack Obama next month in California, months earlier than expected, as both sides seek to stem a drift in relations, troubled by issues from cyberspying to North Korea. The June 7-8 meeting at a retreat southeast of Los Angeles, announced Monday by the White House, underlines the importance of the relationship between the countries as they work out ways for the U.S.-led world order to make room for a China that is fast accruing global influence and military power. President Xi has said China wants its rise to be peaceful, but that Beijing will not compromise on issues of sovereignty — a stance that has aggravated disputes over contested East and South China Seas islands with several countries, including staunch U.S. allies Japan and the Philippines. Among the other pressing items on the presidents' agenda: the spotty global economic recovery, U.S. allegations of persistent Chinese cyberattacks and espionage and Washington's desire for China to do more in international efforts to curb North Korea's nuclear program. Washington has also criticized Beijing, along with Russia, for blocking tougher U.N. Security Council measures aimed at ending the bloodshed in Syria. China, for its part, has repeatedly lashed out at the U.S. military's ongoing strengthening of its presence in Asia, what it considers Washington's support for Japan in its island dispute with Beijing, and the U.S. questioning of China's human rights record and military buildup. The meeting will be "of great significance to strengthening strategic communications, increasing strategic mutual trust ... properly handling disputes, developing cooperative relations and building a new type of big-power relationship," Foreign Ministry spokesman Hong Lei said. The issues are so many that the agenda was becoming crowded for any Obama and Xi meeting. The two leaders have spoken by telephone since Obama was re-elected and Xi elevated to Communist Party chief in November. Xi was named China's head of state in March for the first of what are expected to be two five-year terms. The two met previously in February 2012, when Xi traveled to the U.S. as vice president and leader-in-waiting. But before Monday's announcement, their first face-to-face meeting as leaders of their respective nations had not been expected until September in Russia, on the sidelines of the summit of the Group of 20 large economies. "They needed more than 20 minutes on the sidelines of another meeting," said Bonnie Glaser of the Center for Strategic and International Studies in Washington. "If they want to see U.S.-China relations on a solid footing, to manage the differences and find issues to cooperate on — North Korea, Iran, climate change — it has to start at the top. U.S.-China relations are not managed from the bottom up but from the top down." The White House, in its statement, said the two presidents will "discuss ways to enhance cooperation, while constructively managing our differences, in the years ahead." The decision to hold a working visit instead of a pomp-filled state summit underscores the government's decision to put protocol aside to focus on substance. Xi will make the stop-off in California after traveling to Trinidad and Tobago, Costa Rica and Mexico. "The engagement has become more flexible, and that helps keep the contact at the highest levels, which is conducive to understanding each other's viewpoints and taking more effective measures," Zhu Feng, deputy director of the Center for International and Strategic Studies at Peking University. The Foreign Ministry's Hong pointed to cooperation on issues including climate change, energy security, North Korea, and Iran. Disputes also exist, he said, without offering details, and require "proper handling and active controlling by both sides." U.S. diplomats have said that Chinese officials had wanted Obama to come to Beijing late this year or early next. His last visit was in 2009. Xi's predecessor as president, Hu Jintao, was given a formal White House welcome in 2011. To prepare for the California meeting, Obama's national security adviser, Tom Donilon, will go to Beijing on May 26-28, White House press secretary Jay Carney said.
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Kim Wilson, counselor, seated, Stephanie Foy and Melanie Lisk discuss plans for Rockmart’s graduation program, scheduled for 7 p.m. May 31 at the RHS football field. (Agnes Hagin/thepolkfishwrap.com)
Kim Wilson, counselor, seated, Stephanie Foy and Melanie Lisk discuss plans for Rockmart’s graduation program, scheduled for 7 p.m. May 31 at the RHS football field. (Agnes Hagin/thepolkfishwrap.com)
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