Your Words

Your words: Getting financial reform right

By Kathleen M. Murphy
President and CEO, Maryland Bankers Association

April 23, 2010 — A year and a half after the country came perilously close to economic collapse, average Americans are sitting up and taking notice of the debate in Washington over financial reform. No one wants another financial crisis, and one thing that consumers, the White House, Congress, regulators and bankers of all stripes agree on is that financial reform is needed.

There is also broad agreement on the primary issues that reform effort must focus on, including ending the concept that any one institution is too big to fail and closing regulatory gaps that allowed securities firms and other non-banks to create huge problems for the economy. The legislation pending in Congress takes some positive steps toward addressing these matters. But it also stops short in several areas and goes overboard in others.

Earth Day 2010: A Pivot Point for Land Use and Community Building

By Patrick L. Phillips
Chief Executive Officer, Urban Land Institute

The fortieth annual recognition of Earth Day finds the world of land use in the midst of change, much as it was in 1970. However, in terms of community building, where we’ve been over the past four decades is not where we are headed for the next 40 years. What we’ve learned is that we can build in a way that both accommodates growth and protects – even enhances – the environment.

When the recognition of Earth Day began, people were moving to suburbia by the hundreds of thousands, returning to downtowns primarily to work or shop in department stores. Suburban malls were still innovative; the average home cost about $23,400 and covered 1,400 square feet; the average car cost $3,900 (plus $39 for an eight-track stereo); and a gallon of gas cost about 36 cents.

Triggered by relatively cheap housing, cars and gas, our urban regions were continuing the postwar form: growing outward in two general patterns – rings, based primarily around major highway construction that circled around cities; or linear growth tracking a spine of major highways. The result was the familiar “hub and spoke” metropolitan pattern. Our cities were growing in spite of the environment, not in harmony with it.

Even as urban sprawl was advancing, the Urban Land Institute warned of the potential for dire consequences.

State recieves $9.4M for health IT exchange

March 15, 2010 – Lt. Governor Anthony G. Brown released the following statement today applauding President Brack Obama, members of the Maryland Congressional Delegation, and the U.S. Department of Health and Human Services (HHS) for awarding Maryland $9.3 million to build upon existing work to create a health information exchange:

“I applaud President Obama and the members of Team Maryland for ensuring that Maryland received Federal funding to expand its health information exchange and improve the quality of care for all Marylanders. Because of their leadership, our doctors and hospitals will be able to provide our patients with the highest quality of care they demand.

“Patients and doctors need better access to information technology and a more robust platform to share important information. Late last year, I had the opportunity to meet with doctors, providers, nurses and health professionals at a number of hospitals, clinics and private practices across the state and I learned a great deal about the benefits of a strong health IT system. This Federal support will go a long way to build on the successful programs many hospitals and practices have already implemented and will, in the long run, save patients, insurers and taxpayers money.

Montgomery College interim president reacts to the release of the Montgomery County Executive’s FY 11 operating budget

March 15, 2010 — In response to today’s release of the Montgomery County Executive’s fiscal year 2011 recommended operating budget, Dr. Hercules Pinkney, interim president of Montgomery College, issued the following statement:

“Montgomery College fully recognizes that Montgomery County faces serious budgetary challenges as a result of the nationwide economic downturn; however, Montgomery College relies on the county for nearly half of its operating budget and the 12-percent reduction in county funding proposed by the County Executive—$14.5 million less than requested—will have a devastating impact on the College’s ability to meet the record demand by county residents for high-quality education and student services.

Seven key steps to move your company from surviving to thriving

Editor's note: This one isn't local but I found it interesting.

By Kenneth H. Marks — How does the board of directors or management team of a small or mid-sized business think about reversing a declining or distressed business? It is a common question given the turmoil in our financial and business markets. There are many good companies that find themselves with weak balance sheets, attempting to recover and reposition for the new reality in the markets and to take advantage of emerging opportunities. Where to start and how to change the momentum in your favor? It can be done.