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Are struggling community banks prepared for a new threat? (access required)

Most community banks in Arizona are losing money, lending is down, and a veteran banker concedes that every day is a challenge. It was a little too challenging for two Arizona banks, which were closed by state and federal regulators Aug. 14. A third bank is operating under federal orders to improve what were found to be “unsafe and unsound banking practices.”

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Misunderstanding blamed for delay of K-12 stimulus money (access required)

A misunderstanding regarding federal requirements delayed the implementation of a quarter-billion dollars in federal stimulus money for education. Gov. Jan Brewer submitted a request on June 25 for $250 million that did not meet federal guidelines for the money, according to the United States Department of Education.

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State spending tracks higher than last year (access required)

So far, Arizona has spent more money this fiscal year than it did during the same period last year. Between July 1 and Aug. 17, the state spent $164 million more than it did during the same period in 2008, according to figures provided by the state Treasure’s Office.

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Brenda Burns announces for Corp. Commission

Former lawmaker Brenda Burns has issued a press release announcing she had collected more than 4,000 petition signatures in her candidacy for the vacant seat on the Corporation Commission. Commissioner Kris Mayes will reach her term limit this year. Burns’ announcement ...

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