Finance
Federal Disaster Assistance Extension Request Rejected for Georgia
2025-02-17

Georgia's plea for additional time to apply for federal disaster aid has been declined by the Trump administration. Despite this setback, Governor Brian Kemp expressed that his state was ready for this outcome and had already factored it into their financial planning. The governor, currently abroad on an economic mission in Germany, discussed the situation with Channel 2’s Richard Elliot, revealing that they were not surprised by the decision. Kemp highlighted that even though he toured hurricane-stricken Augusta alongside President Trump and witnessed over $5 billion in damages primarily to agriculture and timber, the expectation of denial was anticipated.

The initial extension granted by FEMA was seen as a significant gesture, but Kemp acknowledged that seeking another would be extraordinary. He emphasized the rarity of such extensions, stating that while it was worth asking, it did not come as a shock when the request was denied. This additional period would have provided local governments with more leeway to seek reimbursements for essential services like debris clearance and emergency measures. Senator Jon Ossoff, however, voiced his disagreement, urging the administration to reconsider its stance and provide crucial support to the affected regions.

In response to the denial, the state government has taken proactive steps to mitigate the impact. The General Assembly allocated over $800 million to assist areas hit by Hurricane Helene and other storms. Kemp reiterated his commitment to supporting those affected, emphasizing that this issue remains one of his highest priorities. His dedication underscores the importance of resilience and preparedness in facing natural disasters, reinforcing the message that communities can thrive through collective effort and unwavering support from leadership.

A New Era of Investment: Arizona Diamondbacks Gear Up for a Competitive Future
2025-02-17

The Arizona Diamondbacks are signaling their intent to remain competitive in the National League West with significant financial investments. Managing general partner Ken Kendrick has committed to an unprecedented payroll of approximately $184 million for the 2025 season, marking the highest in franchise history. This substantial budget increase aims to build on recent successes and challenge powerhouse teams like the Los Angeles Dodgers. The centerpiece of this strategy is the acquisition of Corbin Burnes, who signed a lucrative six-year deal worth $210 million. Additionally, the team has bolstered its roster with key players such as Josh Naylor and Eugenio Suarez, reinforcing their commitment to fielding a championship-caliber squad.

Strategic Investments and Financial Commitment

The Diamondbacks have made strategic financial decisions to enhance their competitiveness. With a projected payroll exceeding previous records by $10 million, the organization demonstrates its willingness to invest heavily in talent. Kendrick's emphasis on achieving success before stepping back highlights the urgency behind these moves. The team's decision to sign Burnes underscores their ambition, as his contract includes a buyout option after the 2026 season, providing flexibility. Kendrick acknowledges that while other offers were more favorable financially, Burnes' desire to stay close to home played a crucial role in the agreement.

This investment strategy extends beyond Burnes. The Diamondbacks have also secured Josh Naylor, who will earn $10.9 million in 2025, and retained Eugenio Suarez for $15 million following his impressive 30-home run season. These moves reflect the front office's confidence in maintaining a strong lineup. Kendrick emphasized that the team's performance over the past few years has led to increased revenue, allowing for greater financial flexibility. By reinvesting these earnings into player salaries, the Diamondbacks aim to capitalize on their momentum and continue delivering winning baseball to their fans. The model revolves around generating revenue through successful performances, which in turn fuels further investments in talent.

Building for Long-Term Success and Fan Engagement

The Diamondbacks' approach to building a competitive team is rooted in long-term planning and fan engagement. Kendrick's vision involves not only securing top-tier talent but also fostering a winning culture that resonates with supporters. The team's recent success, including defeating the Dodgers in the 2023 NLDS, has generated excitement among fans. Kendrick believes that continued success will inspire greater support from both spectators and sponsors, creating a virtuous cycle of revenue generation and reinvestment. The focus on local talent like Burnes, who lives in the Phoenix area, strengthens the connection between the team and its community.

Kendrick's comments about aging out of his role underscore the importance of leaving a lasting legacy. The Diamondbacks are positioning themselves as a formidable force in the NL West, with a roster that blends experienced veterans and promising young talent. The organization's strategy hinges on performing well and inspiring fan loyalty. Unlike some franchises, the Diamondbacks thrive on the support of a fan base that rallies behind winning teams. Kendrick is confident that this approach will yield sustained success, ensuring that the Diamondbacks remain competitive for years to come. The team's ability to balance financial prudence with ambitious spending reflects a thoughtful and strategic approach to building a championship-caliber organization.

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Maryland's Unclaimed Property Division: A Call for Reform
2025-02-17

Between July of the previous year and November, Maryland accumulated $242 million in unclaimed funds but only managed to return $53 million, a mere 22 percent, to its rightful owners. These unclaimed properties can range from forgotten bank accounts to uncashed checks or utility deposits. Currently, over $199 million remains unclaimed, affecting approximately 1.5 million individuals listed on the state’s Unclaimed Property website. The outdated system used by the state limits its ability to accurately track these funds, raising concerns about transparency and efficiency.

Uncovering the Issues Behind Maryland's Unclaimed Property Division

In the picturesque yet challenging autumn season, as leaves turn vibrant shades of gold and crimson, Maryland finds itself grappling with an outdated system that hinders the return of unclaimed property. The State Comptroller’s office acknowledges the use of software and processes dating back three decades, which severely limit its capacity to manage and return these funds efficiently.

Despite claims of “remarkable success” in 2023, where the division collected $315 million and returned $81 million, experts like Ron Lizzi argue that this represents a failure. Only 26 percent of collected funds were returned, leaving many citizens frustrated with the bureaucratic hurdles they face when attempting to reclaim their money. Brooke Lierman, Maryland’s State Comptroller, admits that significant improvements are necessary and is advocating for legislative changes to streamline the process.

The state is partnering with Kelmar, a company trusted by 40 other states, to develop a new website. However, this solution won’t be available until next year. In contrast, states like Texas, Illinois, and Wisconsin have implemented data-matching programs that automatically return unclaimed funds, achieving higher return rates. For instance, Illinois has returned $100 million to over 400,000 people, while Wisconsin boasts a 47 percent return rate.

Under current law, Maryland cannot automatically return funds without claims, unlike neighboring states. Moreover, the state currently uses unclaimed funds as a revenue stream, contributing $100 million annually to its general fund. This practice raises ethical concerns, as it incentivizes the state to retain rather than return these funds.

In response, Comptroller Lierman is pushing for two bills that would allow automatic returns for claims under $5,000. She emphasizes increased outreach efforts and recent website upgrades, though challenges persist, such as difficulties in name searches and limited information display.

From a journalist's perspective, this situation highlights the urgent need for reform in Maryland’s unclaimed property division. The state must prioritize returning these funds to their rightful owners over using them as a financial resource. Transparency and modernization are crucial steps toward regaining public trust and ensuring that forgotten money finds its way back to those who deserve it. This case serves as a reminder that government systems should always work for the benefit of the people they serve, not as unintended revenue streams.

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