Guillermo Furniture Store Concepts Essay Example | Topics and Well Written Essays - 750 words

Guillermo Furniture Store Concepts - Essay Example The labor component in furniture manufacturing, in case of Guillermo, is substantial because all its products are hand-crafted and the company has no way to control its labor cost. On the contrary, it is on increase due to influx of other businesses for the favorable conditions in the region. Financial Concepts Involved Guillermo has to view the whole business scenario from a different perspective. If the company decides to be high-tech just like its competitor to replace its costly labor, then the company needs to estimate the risk-return trade-offs as making the company automated will require huge capital investment. In this process, Guillermo will need to apply numerous financial concepts to arrive at the conclusion whether it is worth investing huge capital to thwart the challenge posed by the competitor. First of all, the company needs to undertake a detailed budgeting exercise to evaluate the viability of high-tech model of manufacturing in its case. The company would need to e stimate the total fund requirement for going high-tech in this business. The company will have option of financing this capital expenditure either through equity or through mix of debt and equity. In the case of later, important thing will be to find appropriate debt-equity ratio for financing the project. Guillermo being a running and profitable company can certainly attract banks and other financial institutions to lend them for this project but leveraging should be within the prevailing norms as applicable for these kinds of businesses. High leveraging (high debt) creates higher business risk and that must be avoided as often occurs during economic slowdown. In a bid to ascertain financial viability of the investment, the company will need to estimate the break-even point in terms of volume (no. of pieces of each product variety) and value both. Break-even volumes will mean all revenue earnings meet all expenses of the company including fixed and variable ones. The break-even cal culations (Break-even analysis, 2012) will also force them to chalk its marketing and sales strategy – the distribution channels, number of retail shops and the geographical reach necessary to achieve those sales. The financial budget formation, capital required, capital structure deciding about equity-debt ratio, break-even volume analysis, cost of capital including weighted average cost of capital (Weighted Average Cost of Capital – WACC, 2012) present value of all expected future streams of revenue (Present value, 2012) until the useful life of machines, internal rate of return (Internal Rate of Return, 2012) will finally decide whether it is worth investing in the automation process so as to compete with the overseas firm effectively. Conclusion It is certain that Guillermo has gone through above mentioned detailed financial viability analysis to ascertain whether the company should go for this new business model or not. Having found the return on investment not lu crative, the company thought of outsourcing entire supply from a second competitor who has similar business model of manufacturing process

ICT and an Adult in Education Essay Example for Free

ICT and an Adult in Education Essay Mr Williams is a teacher at my school, he teaches ICT and Business Studies at KS3, ICT at KS4, Form Tutor, Production, Collection and Collation of Reports for the whole of my school. He produces information on students and for staff to help in teaching and learning, he also produces statistics for staff, senior staff, LEA and DFES. He also produces information to do with effort grades ad target setting information. So he uses a lot of technology, this includes; * PCs on a Network * Apple Macs on a Network * Internet via 10MB broadband * E-mail * Laptop also on Network * Digital Video Camera * Digital Still Camera * Digital LCD Projector * Palm m515 PDA * Wireless Notebooks Window/MAC OS * USB Memory sticks * Data Logging Hardware * Control hardware/software * Fax * Also available Interactive Whiteboard Mr Williams is a teacher of I. C.T and business studies at Key Stage 3, teacher of I.C.T at Key Stage 4, Production, collection and collation of Reports for the whole school, effort grades and target setting information he produces also. He produces of information on students for staff to use which will help in teaching and learning. He has achieved the Electronic registration system for the whole school within 12 months for people to use and view. He performs general backup for staff using RM software, he also performs General Network Administration which is adding new pupils and staff users. He gives advice on purchasing new equipment for the whole school and departments. He selects, purchases and setups laptops for teachers using E-Learning. Mr Williams analyses exam results so senior staff and heads of years or departments so they are aware of achievement compared to the expected results. Staff are also able to view these results so they can be aware of performance issues. Subject staffs, heads of years and de partments, senior staff and form tutors are also able to access these results, grades and comments. Extra software is available which will help staff by using the system that was introduced by Mr Williams, (software produced using Microsoft Visual Basic). The RM Network The RM network system allows Mr Williams to access the information on students and is able to update it if needed such as if the student changes address or phone numbers. Mr Howells can now, after Mr Williams has set the network up, can get access to LEA Management Information System and the school records. Data bases are creates to hold student information on staffs users names or folders on their laptops. Mr Williams has also enabled access from home, using the internet and school passwords. He has also updates the Pupil Achievement Tracker software which allows staff to store progress of students within classes or year group. The RM connect system enables Mr Williams and two other members of staff, who are supervisor users, to access students work areas to solve problems and to check appropriate use of programmes and internet. The E-mail system is also filtered so inappropriate E-mails are redirected and staff are able to view them, the access of websites with inappropriate langua ge or content such as pictures, Mr Williams and the other two members can check. The RM system is set up to allows staff to open Read only documents so they can give students access to related subjects. Mr Williams uses this for providing information, revision materials, coursework guides and modelling situations and simulation materials. Also used is a Virtual CDROM software and a multimedia server this allows staff and students to access CDROM images, such as the Applied ICT On-Line course used in years 9, 10 and 11. Digital Multimedia Technology Mr Williams also uses digital multimedia technology to help provide teaching and learning resources. Mr Williams used a digital camcorder, a still camcorder and Video editing software on Apple computers on a programme called IMovie and Windows, Microsoft Movie Maker2 to interview staff in local company. The final video clips were used on Matchware Mediator, which helped him to produce a series of web pages which students now use for their coursework tasks. Digital LCD Projector Mr Williams uses a digital LCD projector to allow students to use and interact with progressing work. Either Mr Williams or a Student will control the PC being used in the demonstration or teaching session. Mr Williams also uses this technology with teachers on Inset days for staff. School Internet Network Mr Williams uses the internet the school provides for teaching and learning and links on the school system. The internet is used for research for topics and to help Mr Williams keep up to date with the education and subjects. Students and staff use the school e-mail system to communicate or send work for marking or that has been marked via E-mail. Mr Williams can view students progress on GCSE grades by using created databases in DataPower which stores coursework marks, comments and examination marks. Formulae is used to estimate the final grade the student may be given to the student, he can do this by using board supplied information. This information is shared with students and used to report back to parents. Virtual Learning Mr Williams has helped in the introduction of a Virtual Learning Environment (VLE). The VLE allows students to upload web pages to the school system and also as a secure data and information storage area for students work. PDA Mr Williams uses PDA in school; this holds a lot of useful information such as Diary information, pupil performance information, examples of E-book for future reference by students in the school. Software and information can be beamed using Infra Red technology to members of staff or to certain Infra-Red equipped printers in the school. USB Stick Mr Williams has introduced the use of USB stick technology which enables transport of large amounts of data in a compact secure form (32 or 128 Mb at present). Data Logging and Control Hardware Mr Williams uses Data Logging and Control hardware in teaching and provides INSET days for ICT and Science staff, these days are needed to improve the quality of teach Wireless Mr Williams uses the wireless (55Mb) notebooks with students in school and with adult learners to allow them to experience new technology. The advantages are obvious, a lot more space recommended for each machine, extra infra form is required, (Wireless access points can be plugged into network sockets, for easy movement), students can also work in groups in a more adjustable way. The School Network The School Network System enables Mr Williams to access information on students or necessary by students or staff anywhere in the school. Software He uses a lot of software such as Microsoft Word Access, Microsoft Excel, Microsoft PowerPoint, Microsoft Publisher, DataPower 2, Macromedia dreamweaver, Macromedia Fireworks, Macromedia Flash, Macromedia Freehand, Adobe Acrobat, Adobe Photoshop, Pupil Achievement Tracker (PAT), IMovie, Microsoft Movie Maker 2, QuickTime Pro, Microsoft Visual Basic, Internet Explorer, EasyMail and Outlook Express. Hardware and Network, Windows Desktop PCs, Windows Laptop, Apple IBooks (wireless) Apple G4 desktops, Apple Network using MACOS Xserver, RM Connect network using 5 NT4 servers and a multimedia server, Fibre Optic spine connecting four cabinets which contain Hubs and Switches, 100Mb Ethernet to the desktop, 10Mb Broadband Internet access with RM SmartCache technology, Palm m515 PDA using IR and USB technologies for transferring data. He also uses a Promethean Interactive Whiteboard, Sony digital video camera, Canon digital video camera, Sony digital still camera, Canon digital still camera. The Internet Mr Williams uses the internet for research, if he did not have the internet he would have to get information from textbooks, and use more textbooks during lessons while he teaches. If he had to do this it would be expensive. If he was not able to have access to the internet it would mean he would have to photocopy from books so he would have to arrange time before and after lessons to photocopy the information needed. To do this more money is needed to be spent and more time would be needed, so other jobs will not be able to be completed as time would be wasted on photocopying. As Mr Williams will always be up to date with resources as he uses the internet. Mr Williams also uses the internet to buy gifts for friends and family, such as buying tickets fro the cinema or theatre, with his friends and family. He likes using the internet to but gifts as he gets an online discount, that isnt available in the shops and by using the internet he doesnt have to waste time waiting in queues. Al though there is a disadvantage about purchasing online as he doesnt always get to see all the objects in the shop, and he also has to pay for delivery, but that works out the same as the amount of money he would of spent driving to the shop and parking. The PDA The PDA had several facilities this means Mr Williams will have all the information he needs for the day. If he didnt have this piece of technology Mr Williams wouldnt be able to travel around school to see students and teachers as he would have to carry lots of papers with him if he didnt have this technology. Sometimes he is not able to take his laptop into meetings but with this programme he is able to save work to his area, this is handy as he will never loose his work or information, like he would if he had to carry paper around with him. The PDA has facilities which a useful to Mr Williams, such as alarms and a diary, this meets his needs as he is never late to an appointment or meeting and never misses a private party or function, like a family members of friends birthday party. Digital Camcorder He uses a digital camcorder to create applications for his students ICT classes. This allows Mr Williams to download the resources directly to the system. Mr Williams can now uses student friendly resources in his teaching schedules, enriching and improving the experience of his students education. Memory Stick Mr Williams uses a memory stick which allows him to be more resourceful and more flexible in his job. This means Mr Williams can hold data on and be able to transport it around school easily. As he can store more work it means he can do more work at home in his own time in the evenings and at the weekend. This means Mr Williams can now spend more time at home as before he had a memory stick he would have had to spend more time at school, which before he felt he was missing out on his family life. Notebook Dell D810 He uses a Notebook Dell D810, this means he now has more freedom than he used too. Before he had this laptop it meant that he had to sit at a desktop, which is usually in a classroom, and could not get much work finished. This programme means that he can move around during school, as long as it has a wireless connection to the network, having this means he can complete all of his work. Microsoft Word This Microsoft programme can give Mr Williams a variety of options and facilities. One of the facilities is mail merge is useful for producing reports for students. If Mr Williams did not have this option of using Microsoft Word, it would take him an awful long time to add addresss and reports for students. The word processing software also checks his spelling and grammar so it looks professional and correct. Power Point is also used by Mr Williams to create presentations for students. Having this programme allows students how to create different fun pieces or work. E-Mail Mr Williams uses E-mail for school and his social life he uses this so he can send work to and from home, also he can sends work to students via e-mail, with suggestions on how to improve their work. He also uses this to communicate with his family and friends to arrange events in his social life. He likes e-mail because he knows that when he sent an e-mail, it will be viewed by the person he has sent it to, when they open their inbox. This therefore means he can communicate. This means he can communicate with anyone when he is on his computer and isnt near a phone. Doing this means he doesnt have to wait until the person turns on their phone or leaves a message or is at home. Mr Williams feels that when he leaves a message on a phone, he doesnt feel he can communicate properly. He knows that if he sends an e-mail, all of the necessary information will be displayed once read. Network System Mr Williams is able to access information anywhere in the school. This means that he can complete his work anywhere and any time, when he has spare time.

Performance of Goldman Sachs and Financial Ratio Analysis

Performance of Goldman Sachs and Financial Ratio Analysis Conventionally the Bank performance is evaluated by analysis of the financial ratios. However, despite of quite a few number of ratios being calculated, a sculpt that completely convinces the analysis of requirements and bank operations efficiency evaluation is yet to be developed. Hence for these reason, the financial ratio analysis is balance with unlike eminence evaluations, with characteristics such as organization quality, equity structure, spirited position and others which are incorporated in the concluding assessment. In this piece of work we are going to evaluate overall performance of Goldman Sachs and critically analyse how financial ratios are used to evaluate banks performance. The Goldman Sachs Group, Inc. is a American investment banking and securities organisation which slot in global investment banking, securities, investment management, and erstwhile financial services principally with institutional clients. Goldman Sachs was founded in the year 1869 and its headquarter is at 200 West Street in the Lower Manhattan area of New York City. It has additional offices in major international financial hubs. The Goldman Sachs offers mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clientele, which include corporations, governments and individuals. The Goldman Sachs also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market (Goldman Sachs Website). Bank Internal Performance Evaluation Strategic planning Goldman Sachs ability to address and tap into important economic and financial trends through roles such as advisor, financier, market maker and asset manager are critical for fulfilling their mission to help spur growth and perform strongly as a firm. Technology Technology is a core part of GS product offering and client experience. GS ability to respond quickly and effectively to address its clients needs with customized systems, products and services helps differentiate the firm. A technological advantage for GS is that they have only one central risk system, which is partially a byproduct of not having done multiple, major acquisitions that often require merging and retrofitting platforms. Personnel development The success of the GSs efforts are measured by how effectively their people act. Over time, effective training and development have enrich their corporate culture and strengthen the values of client service and focus on reputational risk management. Recognition includes compensation, promotion, assignments and mobility opportunities. They have made it clear the link between the behaviour expected of its people and the recognition used to encourage it. This is critically important because it signals broadly the way GS expects its people to behave and conduct business (Goldman Sachs Annual report 2010). Bank External Performance Evaluation Market share GS has frequently performed above the market despite worsening economic conditions. Since the 2008, the company has outpaced the market enough to draw public admiration. With strong profits and expected strong returns, the company has set aside $500M to invest in small businesses. These efforts are a combination to both improve the economy and their public image. Regulatory compliance The Dodd-Frank legislation and new capital and liquidity requirements under Basel 3 are two of the more significant outcomes from the recent focus on enhancing financial stability. Given regulatory implementation is only just beginning, and unclear on how the new rules will ultimately impact the industry. The broad contours of new regulation, however, are clear: improve the safety and soundness of the global financial system, increase the transparency of derivatives markets, limit certain investing activities and reduce the consequences of a failure of a large financial institution. Public confidence Goldman Sachs announced in May 2010 that it formed a Business Standards Committee to reshape its business practices and mend its reputation. Chief Executive Lloyd Blankfein said at the time that there is a disconnect between how we view the firm and how the broader public perceives our roles and activities. GSs shareholders, BoDs, clients and customers have supported Mr. Blankfein through all the crisis and this shows their faith in bank (Goldman Sachs Annual report 2010). 4.0 Analyzing Bank Performance with Profit Ratios Goldman Sachs financial performance was better in 2009  than 2010 and Q4 2009 was the best quarter since the recession. 4.1 ROE Return on equity (ROE= net income after taxes/total equity) reveal GS capability to produce profits from shareholders equity (further referred as net assets or assets minus liabilities). In other words, ROE shows how effectively a company uses the shareholders money. As seen in graphical representation above, it is clear that Goldman Sachs is tendering a lower return on shareholders equity as compared to year ended in2009. The ROE of GS for the last year was 18.93% as compared to 10.08% this year. There has a been a significant decrease in the ROE which suggests GS is not utilising shareholders money properly. GS return on equity has declined substantially due to deleverage and is only marginally higher than its current cost of capital. 4.2 ROA Return on assets (ROA = net income after taxes/total assets) is how resourcefully a firm uses its assets. From the formula it is quite obvious that higher the ratio, the company is performing more efficiently and thus is generating more profits. A low ROA with enormous assets designate that the firm is handling its asset at a poor rate. As seen in graphical representation above, it is seen that Goldman Sachs has provided a lower ROA of 0.91% this year over 1.58% last year. There is one key differentiation between ROE and ROA and it is debt. In absence of debt, the shareholders equity is same as total assets of the firm which means that in this case, ROE and ROA are identical. Now if the firm come to a decision to take a loan, ROE exceeds ROA. A elevated ROE does not always guarantee a extraordinary performance of a firm. Incidentally, ROA is then a healthier pointer of the financial performance of a firm. With a high ROA and manageable debt, if ROE is also high it means that the company is generating decent profits using shareholders money. But if ROA is low and there is huge debt carried by the company, even a high ROE can only be a misleading figure. 4.3 Net Interest Margin 4.4 Leverage ratio Debt to Equity Ratio 4.5 Decomposition of ROE DuPont Analysis As revealed in Appendix B, The ROE of a bank is dependent on a various factors and thus change in any one of these factor can affect the rate of return on shareholders equity of the bank. As Net Income is the main source to calculate ROE in conjunction with the shareholders equity in the bank, every alteration in the Income and Expense of the bank openly affects the net income and thus influence the ROE of a bank. The detailed DuPont analysis of Goldman Sachs for year 2010 is presented in Appendix B. The ROE is decomposed as follows wrt dupont identity. Now assuming that changes are made in Income or Expense levels of the Goldman Sachs, its effect will be seen on ROA and ROE. Let us consider a case where the Interest Expense for Goldman Sachs goes down by 10% and there are no changes in its Interest Income, following are the effects on ROA and ROE of the bank. Scenario 1 : -5% change in interest expense Change Values after change Interest Expense -10% 6125.4 Interest Income 0% 12309 Effect on NI 6680.6 39841.6 Effect on ROA +0.07% 0.99% Effect on ROE +0.88% 11.68% A few other situations with amendment in Total Non-interest Income and expenses and their outcome on the ROA ROE of bank are given away in the chart below. Scenario 2 : -5% change in non-interest expense Change Values after change Total Non-interest Income -5% 31975.1 Effect on NI -1682.9 37478.1 Effect on ROA -0.19% 0.73% Effect on ROE -1.46% 8.62% Scenario 3 : +10% change in non-interest expense Change Values after change Total Non-interest Expenses 10% 27962 Effect on NI -2542 3160 Effect on ROA -0.31% 0.27% Effect on ROE -4.44% 3.78% Bank Performance Evaluation Based on Economic Profit 5.1 Risk-Adjusted Return on Capital (RAROC) In risk- adjusted return on capital the capital is allocated for two vital motives: (1) risk management and (2) performance evaluation. In support of risk-management rationale, the banks most favourable capital structure can be establish by allocation of capital to individual business units. This course of action entails assessing the amount of the risk (volatility) each business unit chip in to the total risk of the bank and hence to its overall capital requirements. Now, for performance-evaluation function, RAROC structure allocate capital to business units as part of a procedure for shaping the risk-adjusted rate of return and, eventually, the economic value added of each business unit. The EVA of every and each business unit is its adjusted net income minus the amount of equity capital allocated to the unit times the required return on equity. The purpose is to compute a business units input to shareholder value and so to provide a source for effective capital budgeting and incentive compensation at the business-unit level. RAROC is calculated by dividing risk-adjusted net income by the total amount of economic capital assigned which is dependent on the risk calculation. Risk-adjusted net income is calculated by taking the financial data allotment to the bank and fine-tuning the income statement for expected loss. A further modification is also required to take into account the effects on the net interest margin because the attention is moved from book profitability to economic profitability. Thus RAROC = Risk adjusted income / Allocated Capital RAROC for 2010 of Goldman Sachs therefore comes to 2.24 %. Let us consider some scenarios where the risk adjusted income for Goldman Sachs are changed by {-2%, +2%, -5% +5%}, The effect on its RAROC is represented as below. Change in Risk Adjusted Income 2 % + 2 % 5 % Effect on RAROC 2.20 % 2.29 % 2.13 % Economic Value Added (EVA) EVA (Economic Valued Added) is a present day financial dimension instrument which concludes whether a business is earning greater than its true cost of capital. EVA stands out apart from ROA ROE which are most accepted measures of bank performance. This is because it includes cost of equity capital employed. On the other hand, net banking income and the efficiency ratio, also, do not consider the cost of equity capital employed. Therefore, these ratios possibly will propose a banks performance as healthy but in fact it could be deteriorating its value to its shareholders. EVA is essentially a tool that focuses on maximizing shareholder wealth. EVA = Adjusted earnings Opportunity cost of capital {Net operating Profit after Taxes} {Cost of Equity X Equity Capital } With an aim of creating values, the return on invested capital (ROIC) for a bank must be greater than cost of capital. So, the EVA can be possibly increased in quite a few ways, by: 1) Increasing Net operating Profit after Taxes; 2) Lowering the Cost of Equity and 3) Reducing Equity Capital Conclusion Year on year Goldman Sachs revenues have descended by 11.04% from $51.67bn to $45.97bn. This along with an increase in the cost of goods sold expense has contributed to a reduction in net income from $13.39bn to $8.35bn, a 37.59% decrease. In 2010, Goldman Sachs did not generate a significant amount of cash. Cash Flow from Financing totalled $7.84bn or 17.05% of revenues. In addition the company used 6.16bn for operations while cash used for investing totalled $185m. Goldman results were also dragged down by a $465 million one-time expense to cover a U.K. payroll tax and a $550 million outlay to settle  SEC  charges that it favoured certain clients over others.

The Sweat Lodge :: essays research papers fc

  Ã‚  Ã‚  Ã‚  Ã‚  The sweat lodge is a key healing and spiritual practice of most, if not all, Native American cultures. A variant of the sweat lodge is seen in those cultures from the artic to South America. It can be seen as a form of water therapy as it uses extreme heat and water to produce its effects. Specifically I will explain my personal journey and experience as a participant of a Mohawk sweat lodge. Each tribe has its own unique way of performing the sweat even if they all share the same base upon which to personalise it.   Ã‚  Ã‚  Ã‚  Ã‚  The Mohawk sweat lodge that I attended on Thanksgiving last October is an experience I will not soon forget. It was an interesting blend of people coming together to share in a sacred experience for the spiritual healing of a friend. My friend is Mohawk and he gathered his five closest friends to join him; all of us Caucasians, the shaman/medicine man, the shaman’s wife (a medicine woman in here own right), the fire keeper and the woman in Hudson who graciously allowed us to use her land for this occasion. Names have purposely been omitted for the sake of anonymity as the type of sweat was one of personal healing and not a general sweat.   Ã‚  Ã‚  Ã‚  Ã‚  The figures in the sweat are the shaman who directs and explains the procedure of the sweat and conducts it. The next figure is the fire keeper who tends the fire on which the stones for the sweat are heated and transfers them with the help of a pitchfork which he hands to the person closest to the entrance of the lodge as he does not enter the lodge. The final figure is the person being healed, in this case my friend.   Ã‚  Ã‚  Ã‚  Ã‚  As this sweat was a personal healing we all had to be intimately involved in the preparations, we did not have to build the lodge only cover it with skins and tarps. The frame of the lodge had been built for a previous sweat. Before we could cover the lodge we had to lay down cedar on the floor of the lodge in an intricate manner based on the traditional beliefs of the Mohawk. This task is normally done by the women and those men who are attuned with their feminine energy, as such I was asked to join in this task. Laying down the cedar branches that have been cut into small pieces was a very calming exercise; it also provided me with a chance to learn about some herbal lore from the other women.

Bege-101 Assignment Session 2012 Solve

DRAFT Meeting Agenda MEETING TITLE: Project Sponsors Council DATE: Friday, January 22, 2010 TIME: 10 a. m. – 12:30 p. m. LOCATION: Washington State Department of Transportation, SW Region 11018 NE 51st Circle, Vancouver, Washington 98662 TIME 10:00 a. m. AGENDA TOPIC Welcome Approve Dec. 4, 2009 Meeting Summary 10:05 a. m. Conceptual Finance Plan Overview and Discussion 10:25 a. m. Tolling Study Committee Findings 10:55 a. m. Break 11:10 a. m. Performance Measures Advisory Group Report 11:40 a. m. Performance Measures Application Example 11:55 p. m. Hayden Island Update 12:30 p. . Adjourn TRANSIT DIRECTIONS from PORTLAND: From Downtown Portland, take C-TRAN Express Bus #164 to the Fisher’s Landing Transit Center. Transfer to Bus #80 (Van Mall/Fisher's) eastbound to 49th and 112th Avenue. WSDOT SW Region Headquarters is 2 blocks north of this bus stop. TRANSIT DIRECTIONS from VANCOUVER: From Downtown Vancouver take C-TRAN Bus #4 (Fourth Plain) eastbound to the Vancouver Mall Transit Center. Other buses to Vancouver Mall are #32, 72, 44 and 78. From the Mall Transit Center, transfer to Bus #80 (Van Mall/Fisher's) eastbound to 49th and 112th Avenue.WSDOT SW Regional Headquarters is 2 blocks north of this bus stop. For detailed trip planning, please contact the two transit agencies: C-TRAN, www. c-tran. com, 360-695-0123, or TriMet, www. trimet. org, 503-238-RIDE Meeting facilities are wheelchair accessible and children are welcome. Individuals requiring reasonable accommodations may request written material in alternative formats or sign language interpreters by calling the project team at the project office (360-737-2726 and 503-256-2726) one week before the meeting or calling Washington State's TTY telephone number, 1-800-833-6388.Meeting Summary MEETING: DATE: LOCATION: Columbia River Crossing (CRC) Project Sponsors Council December 4, 2009, 10:00 am – 12:00 pm Port of Portland, 121 NW Everett Street, Portland, OR ATTENDEES: Adams, Sam Brag don, David Garrett, Matthew Hansen, Fred Hewitt, Henry (Co-chair) Leavitt, Tim Pollard, Royce Stuart, Steve Mayor, City of Portland Council President, Metro Director, Oregon Department of Transportation General manager, TriMet Past chair, Oregon Transportation Commission Chair of the Board of Directors, C-TRAN Mayor, City of Vancouver Chair, SW Washington Regional Transportation CouncilS TAFF: Brandman, Richard Wagner, Don ODOT CRC project director Regional Administrator, Washington State Dept. of Transportation Note: Meeting materials and handouts referred to in this summary can be accessed online at: http://www. columbiarivercrossing. org/ProjectPartners/PSCMeetingMaterials. aspx Welcome and public comment Co-chair Henry Hewitt thanked attendees for coming and announced that PSC members co-chair Hal Dengerink and Secretary Paula Hammond could not be at today’s meeting. Due to the large number of sign-ups for public comment, testimony will be limited to one minute per person .The Council will accept written comments, as well. Representative Tina Kotek, Oregon state legislator for House District 44 in north and northeast Portland: I support the project and have submitted written testimony from my comments at the state legislative hearings held Nov. 19 in Salem. If the project has additional questions to resolve, please do it quickly and don’t delay the project at the risk of missing federal funding. I want to thank the residents from Hayden Island and ask CRC staff to listen to them and help solve some of the livability challenges on the island posed by the proposed design refinements.Ed Garren, citizen co-chair of the Hayden Island Plan: I was always in favor of the bridge as it was proposed. It was a state of the art bridge, like a beautiful Lexis Hybrid. These refinements turn it into a 20year old Oldsmobile that needs a ring job. It’s going to be dirty, with pumps running 24/7 for a hundred years, and will destroy the livability of the Hayden Island community. You’re not following appropriate processes. It’s different from what we were sold by the CRC for two years. People are upset about the lack of input and this bait and switch.The impacts to Hayden Island are spread throughout the draft environmental impact statement, ambiguous, and difficult to find. Hayden Island is not well-served by this proposal. Shannon Palermo, StopTheCRC. org: My main concern is this continues to ignore environmental and social justice issues. The Coalition for a Livable Future and Bicycle Transportation Alliance recommendations have been completely ignored. There have been no recommendations for environmental justice. We can do this better in Portland. We need to make policy that accounts for peak oil and climate change.I would like a supplemental EIS that accounts for environmental and social justice issues and includes asthma rates in north and northeast Portland where I live. 1 360/737-2726 503/256-2726 WWW. COLUMBIAR IVERCROSSING. ORG 1/25/2010 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCIL Donna Murphy, Hayden Island resident: I just moved to the island in June. We deal with a lot of noise from trains, planes, and autos, but we love living along the river. Mayor Adams, please imagine living there.We’re senior citizens. I’m going to do all I can to get our voices heard. We need a Safeway, a pharmacy, and our gas station. Roger Staver, chair of Hayden Island Neighborhood Network (HINooN): My group sent the project a letter regarding impacts of the refinement package on Hayden Island. As you consider suggestions in our letter, please remember that Hayden Island is the most impacted area in the project. It’s an island isolated by the channel and the river. The recently approved Hayden Island Plan had as a goal the ability of residents to stay on the island to meet their basic needs.The project refinements force us off the island. We cannot go to a neighborhood somewhere else; we have to stay on the island. Peg Johnson, Hayden Island resident: I have been very involved in CRC planning since 2005. We continue to support this project for the most part, but the refinement package makes things worse than they were in the first place. I’m asking you to keep Hayden Island and livability in mind, which means sustainability. If you go forward with refinements, please dedicate yourselves to making the most that you can of the situation on Hayden Island.Our letter reflects our specific points. Rex Burkholder, Metro Councilor for district 5, former member of the CRC Task Force: I urge the project to keep working on this. We need to continue problem solving and my letter contains further comments. I give you my support for your work. Kathryn Williams, business and rail manager for the Port of Portland: We have been supportive of the bi-state effort to improve I-5 and the related interchanges. We’re especially interested in how the refinements affect the Marine Drive interchange. We support the refinements in the package and urge you to move forward.Ginger Metcalf, Identity Clark County, Greater Vancouver Chamber of Commerce, and Columbia River Crossing Coalition: The private sector continues to invest in infrastructure that allows job creation, but a corresponding public investment in transportation has been slower in coming. If we want to compete in the global economy, we must invest in our freight infrastructure. To build a culture of sustainable success, we need to make the economic connection between jobs and how the states spend money. The business community is behind you.John Mohlis, Columbia Pacific Building Trades Council: The project has been scaled down appropriately. We want to move this project forward, so if there are refinements that need to be made, please do that. The construction industry is in a depression, not a recession. Every month that this project is delayed, more people will lose their homes, their health insurance, their homes, and will cash in their 401k accounts to send their kids to college. Please work together and move this forward. Walter Valenta, Portland resident: I have been working on this project for a long time.This is an important milestone, but it’s one of many. This is the belt-tightening part. What’s important is that as we tighten it, we don’t sell out the core values of our community. We must make the land use and transportation system on Hayden Island work together. We can’t quit caring about design. We can’t assume that by making it cheaper we’re going to make it ugly. This bridge can represent the values of Portland. Marion Haynes, Oregon Business Association: Businesses around the state depend on this bridge. The need for it has been clearly articulated for a decade.We appreciate the staff responsivene ss to scaling back the project size. There are more details to work out, but businesses around the state are counting on you to move this forward. Ed Lynch, former member of the CRC Task Force: Our forbears paid tolls on the ferry and bridges in the past. Tolls for bridge users ought to be paramount in addition to any other funds. Secondly, if we’re going to build the bridge, let’s build it right. Think of the Sydney, Australia bridge and the Golden Gate Bridge and Transbay Bridge, all built in the 1930s. They’re still in use today because they were done right.Let’s build to the full width and do it right the first time. Anonymous: I’m against any further spending on the CRC bridge. Why wasn’t the $3. 6 billion cost part of the original proposal if it will accomplish the same thing as the earlier proposal? You seem unwilling to tell the public what it’s truly going to cost. If this is a regional transportation necessity, a regional ga s tax is in 2 360/737-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCIL rder. If you’re going to toll the new bridge to reduce traffic, then tolling the current bridge for that reason should work too. Why not toll the current bridge? Least-cost options should be used first, not last. On I-5 there are approximately 300 cars for every truck. This is not a jobs program. We have lots of community needs that will create long-term sustainable jobs. We shouldn’t borrow more money from Asia. Burdening me with debt does not stimulate jobs. Elson Strahan, president of Fort Vancouver National Trust: I also provided written testimony.I was pleased to support our final recommendation as a member of the CRC Task Force despite knowing of the impacts to our site and that it would require mitigation. Because of these imp acts, mitigation is an absolute federal requirement as part of the National Highway Act and National Historic Preservation Act. We and the City of Vancouver have approved the design concept for the Community Connector. We look forward to it being integrated into the project. Paul Jeffery, Portland resident: I moved to Portland 10 years ago for its reputation as a place that does things differently.The proposed Mt. Hood expressway was blocked by citizens and that made me feel great about moving here. The CRC wants to turn Portland into another failed city. I don’t want that to happen. This is not a project for the 21st century; it’s rooted in a mid-20th century approach to problems. David Rowe, resident of Battle Ground, Wash. , and former member of the Clark County High Capacity Transit Task Force, speaking as a private citizen: In my letter to Gov. Gregoire, I asked her to imagine a morning commute to downtown Portland in a lounge chair with coffee and a view of Mt.Ho od. You arrive at Portland Union Station. This is possible if the existing Columbia River rail bridge is modernized. This would be much cheaper than the current proposal. This kind of service is already in place with the Westside Express Service commuter rail in Washington County. Chris Rall, citizen of Portland: I am concerned about the resiliency of our transportation infrastructure. We don’t have a system that will handle increases in gas prices very well. This project is going in the wrong direction and is going to double the width of the freeway.As a taxpayer, I’m concerned about that kind of investment. I’d like to see least-cost options, phasing, and smaller projects that could meet the needs in that area. Todd Coleman, deputy executive director of the Port of Vancouver: The Port supports the refinements package. In Washington, one in three jobs is related to trade. While we prefer a six-lane option, we understand the need for compromise with a five-lane option for now. We’re also a member of the 75member Vancouver Freight Alliance, which supports the refinements proposal, as well.In the end, both sides of the river will have to compromise, but this option provides 90 percent of the benefits at 75 percent of the cost, so we recommend you move forward with these refinements. Jim Howell, an opponent of the Mt. Hood Freeway: It’s time to stop this one million dollars per month madness. The myth of 15 hours per day of congestion is a disingenuous scare tactic by the Oregon and Washington highway departments. It is based on the ridiculous assumption that nothing can be done to stem freeway traffic. Non-freeway solutions were never seriously considered.It’s time to go back to the drawing board. Chris Smith, citizen transportation activist: It’s important to get the Purpose and Need Statement right. It leads with congestion and doesn’t mention either global warming or peak oil. State and local governments have adopted strong policy statement regarding these. I urge you to amend the Purpose and Need and then do a supplemental draft EIS. Joe Rowe, Portland resident: I live two blocks from I-5 and Rosa Parks Way. I can see cars bumper to bumper during rush hour at Albina Street because drivers know that getting off the freeway is faster than staying on I-5.I hear politicians lie and say they’re environmentalists and say we need this project for the jobs. The cost does not include the cost of the bonds to buy this bridge on credit. It will become a $10 billion bridge because the cost of this bridge will double just like the tram. Richard Bullington, Clark County resident: How is light rail to Clark County a good use of public money? For 12 trains an hour, you move maybe 2,400 people per hour in the peak direction. To spend $750 million to serve that number of people seems a bit ideological. I rode the MAX to get here, so I’m a train guy, but please think about this. 360/73 7-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCIL Brian Gard, co-executive director of the Columbia River Crossing Coalition: I urge you to approve the refined package. Please see my letter for more detail. Please consider the breadth of support for this project as reflected in our list of members. We ask that you keep this project moving forward. The work done to date is good work.The work to be done by 27,000 workers who will build the crossing will be good work, as well. Carl Larson, Portland resident: The bridge we have today is inadequate. As a bicyclist, I hate to ride across it. The way I get stuff via freight is stuck in single-occupancy vehicle congestion. But the $4. 2 billion plan to fix it still prioritizes single-occupancy vehicle travel. The cheap knock-off being proposed today does a worse job. We sho uld go back to the drawing board and put our money where our mouth is. Chelsea Wright: I’m opposed to this bridge because there are better options that haven’t been onsidered. I’m a big fan of public transportation. If you have all this technology and the money available, why wouldn’t you consider other options? It’s obvious that a car-oriented culture is a destructive way of life. Please consider the effects to future generations. Mara Gross, policy director with Coalition for a Livable Future: We have long supported a solution to I-5 that supports reliable transit, transportation, supports good land use planning and addresses global warming. Your proposal is a non-solution. You still have 12-lanes capacity and no plan for how to manage demand.Thank you to Mayor Adams and Council President Bragdon for their comments, and to Mayorelect Leavitt for his comments about low-income communities and communities of color. The refinement plan makes a decisi on with hundreds of millions in public dollars to avoid environmental review. We need a new plan that puts the values of this community first. Pam Naugle: I’m a 16-year resident on Hayden Island in the mobile home park. Sixty percent of us are disabled and seniors. Our Safeway store is our only source of fresh food and pharmaceuticals. You need to think before you tear down a store that is so vital to our living.For those of us who don’t own a vehicle and can’t afford lift services, please think this over seriously. Michelle Poyourow, advocate for the Bicycle Transportation Alliance: Our two primary interests in this project are that it include a great walking and biking route and that it foster healthy, bikable neighborhoods on both sides of the river. The CRC plan considered earlier and also today fails on both counts. It was only after two years that the BTA became an opponent of the project. It will take more than refinements of a plan based on flawed assump tions and weakly defined outcomes.Please start with a new vision for success that is a truly green project we can support. Jonathan Irwin: Those of you who are elected will be accountable for your decisions. Please rethink and redraft this plan with true public involvement and local control. Please keep the departments of transportation at the back burner since they’re just road builders. You need to more carefully consider climate, equity, public transit, walking and biking options. For everyone here today opposed to the bridge in its current form, there are 100 more who have to be at work or didn’t know this was happening.Ed Barnes, Vancouver resident, former member of the Washington State Transportation Commission and former co-chair of the I-5 Transportation and Trade Partnership: For the last 15 years, I’ve talked to hundreds of people on both sides of the river about this project. It may have some flaws, but overall it covers all the elements for bicyclist s and pedestrians, freight, transit and commuters. You need to do something. Something is better than nothing. This project will also create jobs for the unemployed. Marcela Alcantar: I’m a small business woman.I’m concerned that there aren’t many people of color in this room today and in the past. I’m concerned about the lack of leadership on that. I believe in this project and that it will create jobs and sustainability. I’ve been asking for opportunities for firms like mine and I haven’t seen it happen. Please consider professional services like mine on this project. Ron Swaren: The problem with the CRC proposal is that it’s not realistic. Our metro area is slated to grow and having one or two crossings is not enough for this region. Our group has advocated a third bridge, which would be cost effective and incorporate solutions.Andrew Plambeck, Portland resident: I’m concerned about our tax dollars going to this project. May or Adams and Councilor Bragdon have released a very thoughtful statement. Redesign this project from the group up to reduce emissions and prioritize alternative transportation. Our city and region depend on it. 4 360/737-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCILTom Buchele, Pacific Environmental Advocacy Center at Lewis and Clark Law School: We represent groups like the Coalition for a Livable Future and others concerned with the NEPA process. The draft EIS was deeply flawed. There needs to be a supplemental draft EIS. Regulation 40cfr1502. 9c requires a SDEIS if there are substantial changes or new information, and we think $650 million is a substantial change. There is new information expected from the tolling study, so this shouldn’t all be dumped in the FEIS, as that would be a travesty of the NEPA process.David Thompson, Portland resident and retired physician: I encourage people to get their colonoscopies and cholesterol checked. We’re not going to meet our environmental goals with the way this project is designed. I read The Oregonian today saying we’re looking at the next hundred years with this project and I don’t believe it. When I jogged over here I was almost run over by a 16-year old in his brand new car talking on his cell phone. We have too many cars in this city, state and world. This is a good opportunity to figure out an alternative.Erick Reddekopp, co-chair of Hayden Island Livability Project, a grassroots group: You’re receiving over 600 petition signatures against the refinement package due to the impacts including the Safeway store and other restaurants and businesses on the island. It’s disturbing to hear that money and funding seems to be the biggest reason to do this refinement package now. I’m unemployed so I unde rstand the need for jobs. But this is our chance to be a progressive city again. The refinement package has so many problems with it. Sharon Nasset: Thank you for not limiting public comment to 30 minutes.The PSC has not had a representative of the community and neighborhoods. You need an environmental justice representative to sit there from each side of the river. You haven’t followed the NEPA process with a full range of alternatives. There must be a supplemental draft EIS with the amount of changes proposed. For those who want to get more involved on a third bridge proposal or to stop this process, 5003 N. Lombard has a huge space and we’re glad to have people come work on this process. Herman Kachold: I’m involved with the Hayden Island Livability Project, a new grassroots group.We need more crossings, a bridge to the west of the rail bridge and one at 33rd Avenue. Spread the traffic out more. That would be a better approach. Tom Dana, co-chair of the Hayde n Island Livability Project and former steering committee member for the Hayden Island Plan: It’s clear the comments here are 10 or 20 to 1 opposed to this proposal. This bridge is for 100 years. Let’s not cave in to immediate pressure just to get it done. Let’s go back and look at what really needs to be done. Kaitlin Hale, StopTheCRC Coalition, resident of SE Portland: I urge you to reconsider the revised plan you might be voting on today.We need transportation options for people, not more single occupancy vehicles. I urge you to solve traffic congestion, climate change, and the lack of employment in our region, and social and environmental justice by not rushing through with this plan and going back to the drawing board. Transportation infrastructure doesn’t just happen but exists in our cities and region and needs a bigger picture viewpoint. Dan McFarling, Portland resident: When this project was first initiated, the focus was on how to accommodate mo re motor vehicles. That’s a major flaw.Instead, how can we meet our community and transportation needs? If you would read the proposals in the Smarter Bridge brochure, you’d see that it provides better options for a phased, affordable project and a stronger economy. Pam Ferguson, resident of Hayden Island manufactured home community and member of the Hayden Island Livability Project: Thank you for allowing more time for public comment. I represent a group with over 1,700 residents, 60 percent of whom are seniors. They don’t drive off the island, which is a good thing. Please give Safeway or a grocery retailer special dispensation.Co-chair Hewitt thanked the commenters. 5 360/737-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCIL Draft refinement recommendation Mayor Adams inquired whether PSC will be asked to vote on a recommendation at today’s meeting. Cochair Hewitt said he doesn’t foresee a vote and cannot anticipate outcomes of the meeting. Discussion may require more time and another meeting. Hewitt introduced the CRC presenters. Staff presentationRichard Brandman, CRC project co-director, said the project has been working hard for the last six months to refine the project design, reduce costs, and address issues raised previously and again this morning in public comments. The project wants to achieve nearly the same benefits as the previous proposal, and still meet the purpose and need goals, but at a lower cost. The refined design has been reviewed with the CRC’s senior staff advisory group, the CRC Performance Measures Advisory Group, the freight community, and others. There is a lot of technical documentation behind the proposals and staff can share those with PSC if desired.Staff has analyzed the five-mile project area from one end to the other using the purpose and need goals — such as transit, freight and safety — as well as standard value engineering techniques and a consideration of what elements can be deferred or reused. The revised cost estimate range is $2. 6 to $3. 6 billion, with a likely cost of $3. 2 billion. Kris Strickler, deputy project director, gave an overview of the proposed design refinements, starting from the Marine Drive interchange at the south and going north. Marine Drive is the largest freight access interchange.The staff recommendation still includes a single-point urban interchange with one traffic signal. Moving north, the North Portland Harbor bridge would be reused and the highway mainline profile would be lowered on Hayden Island. For the river crossing, Strickler said, some of the cost savings came from having more information about soil conditions and liquefaction characteristics. Other savings come from a proposed 10-lane bridge with standard shoulders, rather than a 12-lan e bridge. It’s smaller than the original proposal by 16 feet total (eight feet per bridge).In Vancouver, two areas would be refined: The northbound lane from SR 14 to SR 500 would be reduced and the SR 500 north ramps would be eliminated. In the future, SR 500 has several intersections that would be converted to full interchanges. There are elements that staff proposes not be included in the project’s initial capital investment; a discussion about that would happen for future prioritization. Patricia McCaig, CRC communications, said staff has presented information on the design refinements to many audiences over the last several weeks.A key theme staff heard was the desire, especially from Hayden Island residents, for an opportunity to provide comments directly to the PSC, which is why an extended public comment session was included in today’s meeting. For the freight community, the proposals for the Victory Blvd. braid and Marine Drive interchange were cause fo r concern; they were afraid it would impede traffic performance for freight. But, she said, they ultimately understood that the refinements meet the initial needs and urged the project to move forward. Mayor Adams, she added, has been very clear about the importance of Marine Drive and Hayden Island.The intent of the Hayden Island Plan and the CRC’s involvement has been to improve the livability, safety, and access on the island. The refinement was hard for many people to hear because they had spent so much time working on the Hayden Island Plan. But there is a growing appreciation for the benefits of the refinement coupled with real concerns about the potential for losing the Safeway grocery store and effects to access on and off the island. Today, connectivity on the island is very difficult. Staff believes that the refinement proposal improves this by including the new east/west Tomahawk Island Drive connection.There is support for this new road but concern that the refine ment proposes recessing it below grade in a way that might discourage that connectivity. There is also concern about potential detrimental effects to commercial and retail space on the island. Hayden Island residents also want to see improved bike and pedestrian connectivity. McCaig directed members to their packet of materials, which contains about 20 letters and emails with a mix of views, from those who support the refinements to those who don’t, and those in the freight community who accept the refinements but believe that moving from 12 to 10 lanes is shortsighted. 6 60/737-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCIL There is widespread understanding, she concluded, of the fundamental need to reduce the project cost and still protect its function and benefits. Discussion The discussion below touched on the project schedule in relation to federal funding deadlines, as well as each PSC member’s views of the proposed design refinements. In addition, a guiding policy statement proposed by Mayor Adams and Council President Bragdon on Dec. (see appendix) informed the discussion. Co-chair Hewitt said some PSC members are ready to adopt the refinement and others are not. He suggested scheduling a meeting in January for a fuller discussion not only of the refinement but also of the performance measures, effects to Hayden Island, and more. He added that the right partner agency staff should be co-located at the CRC project office and integrated with CRC staff to work on issues that need to be addressed. But, he said, we should applaud the work completed to date. Mayor Adams said that is a very useful suggestion.The issues PSC needs to discuss merit more frequent meetings for a period of time. Mayor Pollard said he would like to remind everyone of the constraints from federal fundi ng deadlines. Richard Brandman clarified that the project is on course to complete the final environmental impact statement in summer 2010 and have a record of decision by the end of 2010, which would allow final design in 2011, followed by transit funding, and the start of construction as early as 2012. Mayor Adams said the Obama administration has pushed back by 18 months the federal transportation funding reauthorization.For the public’s benefit, he said, there isn’t a firm deadline that would block the funding application. He asked for clarification whether there is any agency deadline. The urgency is real, he said, but we do have more time than today or next month to address these issues. Director Garrett responded by saying it’s a very fluid conversation and we can’t rely on that 18-month time frame. We need to continue communicating with the federal delegation. While there’s not a specific calendar, he said he would be very nervous to say we have 18 months. The project needs to move forward.The federal government is going to move forward, we just don’t know when. Mayor Adams said he is not suggesting a delay of 18 months, but he does not think a decision about refinements is needed in January. Director Garrett said there is time to engage this issue. He highlighted the importance of articulating what outstanding questions still need to be answered. There are jobs, he said, not only through the laborers but also the design work. Mayor Adams said there are opportunities for more jobs in the short run with professional service firms.Metro Council President Bragdon said that when the project does move forward, there needs to be broad support. Let’s look at a budget, he said, in terms of fiscal capacity, not just a specific price tag. What’s a realistic assessment of the funding prospects in the two state legislatures? We should start with what’s our foreseeable revenue, he said. Co-chair Hewitt: We’ll include financial information on the next agenda. Mayor Adams said he provided half a dozen questions via email to CRC staff regarding design refinements and still needs some follow up.Mayor Adams provided PSC members with copies of the project’s initial written responses to these questions and an internal memo written by the city attorney’s office (see appendix). Mayor Pollard said sometimes staff doesn’t know what PSC members want and that members need to make it clearer to staff. Regarding decision making, he said PSC wants staff to keep doing analysis that moves the project forward. For the proposed design refinements, he can accept the ones in Vancouver, but hopes some accommodations can be made for Hayden Island. He said he has been working on this bridge for more than 10 years.The Vancouver City Council voted unanimously over a year ago for a 12-lane bridge. Anything other than that is unacceptable for the City of 7 360/737-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCIL Vancouver. There is a letter dated Jan. 27, 2009 from the Federal Highway Administration (FHWA), outlining the agency’s support for a 12-lane bridge. The bridge isn’t being built for single-occupancy vehicles from Vancouver.It’s for the economy of the entire region and the West Coast. Please look beyond the short term. Everyone in this room has an agenda, but our positions should be based on the future needs of the region. Through all these meetings, he said, we agreed on certain things: Portland wants light rail and tolls, Vancouver wants highway lanes. What does Vancouver get out of this deal? A 10-lane bridge that doesn’t meet the needs of the future. I understand it could be striped for 12 lanes in 10 or 15 years. But who is going to give that exception? Probably FHWA. How do we know they’ll look favorably upon it?That exception is needed now for the future. If it can’t be provided, the Vancouver City Council probably won’t support it. Who in this room is looking out for those people not born yet? We talked about making the most environmentally correct bridge. We can do that. General manager Fred Hansen said there are obviously going to be studies forthcoming regarding performance measures. TriMet has embedded staff at the project office. The Hayden Island Plan is very important. TriMet staff has been working very hard to preserve and enhance the island’s livability.The refinements make that a challenge; we must wrestle with that. How can we use transit-oriented development funding tools to create the vision for a whole range of services on the island, including grocery stores and pharmacies? Station area development around the light rail station is a catalyst to achieve that. We all recognize that any l arge project like this is difficult to move forward without consensus and I trust that we’ll get there, he said. Director Garrett thanked Mayor Pollard for his leadership and long-time participation in the project.He said there is staff embedded at the office but it’s incumbent upon PSC members to be specific with their concerns because their questions have a cost. He said he has told Council President Bragdon that he is struggling with concerns about the pathway for funding because the project is walking down the same pathway as any other project. Director Garrett said he appreciates the passion and concerns of the Hayden Island residents; none of that is lost on ODOT or the CRC project. He said the CRC project can help to grow a community with transit-oriented development on Hayden Island, which will happen only because of the project.He said he wants something to bloom there and that the catalyst is the CRC project. Councilmember Leavitt said that from the C-TRAN pe rspective, they’re trying to meet the needs of the 21st century. He doesn’t see lanes getting widened south of the project area. But he’s very optimistic about the project. Over a year ago, the C-TRAN board of directors agreed that public transit is a vital part of the project. C-TRAN is committed to improving transit access, including with express buses. The project needs to achieve social, environmental, and fiscal equity.We want to be ready to jump when federal funding is ready, he said. Today is another step forward in a dynamic and evolving process and he is looking forward to staff working closely together. Commissioner Stuart said there is a reason why he’s wearing his University of Oregon shirt today. He has lived in both states and cities of this project. He said we talk about a vision for the future, but a lot of times it’s a different vision. We’re trying to bridge not just two states but two visions. With the proposed design refi nements, there is a path to success.It involves a lot of what Council President Bragdon and Mayor Adams have put forward with the use of performance measures to guide the process. If we can show that it’s from a sense of priority and the parts of the vision we share, he said, it’s going to require us agreeing on key performance measures. We let the experts do their work to run the data. If we can get to that, he said, he sees a good chance of moving forward in a way that is right for both sides of the river. He said he sees the path forward; it’s just going to take a lot of work to get there.Co-chair Hewitt said he has letters from Co-chair Hal Dengerink and Secretary Paula Hammond, endorsing the design refinements and asking the project to move forward. Council President Bragdon said he thinks the group agrees on some common goals, but the flaws in the design refinements are the same flaws he sees in the original proposal. The common goals have not been applied in the refinements. In the case of Hayden Island, the project is supposed to make it a better place, but that objective has not been met. We have to be very sophisticated and look to new methodology, not that which was state of the art 20 years ago.Going forward, he said, let’s link hands on the broader values we agree on. He said he respects the discipline of traffic engineering as much as he 8 360/737-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 DECEMBER 4, 2009 | MEETING SUMMARY COLUMBIA RIVER CROSSING COLUMBIA RIVER CROSSING (CRC) PROJECT SPONSORS COUNCIL does physicians or accountants, but we need to bring more to bear on it. He said he cannot vote for any more blank checks on this project. He has asked for information and independent audits. We need to work much more closely together.If we do that, we’ll have something we can be proud of. Co-chair Hewitt disagreed with Council President Bragdon about aba ndoning the goals and said the refinements are consistent with them. But, he said, we’ll have to discuss this more in forthcoming meetings. Mayor Adams said he wants to lay out why now is the right time to pursue what he and Council President Bragdon have put on the table in the form of their guiding policy statement (see appendix). Since March, Adams said, he has been part of a climate action planning process and has become smarter about what it means to plan for climate action.As a result, some of the questions have become more compelling in the last 7-8 months. He looks forward to working with Mayor-elect Leavitt, but the question of tolls is on the table and it’s a fundamental part of the project’s purpose and need. Mayor Adams said he is accountable to bringing the right project to his city council, and if future trips gridlock in the City of Portland, we’re in big trouble. Because of his work on the Sellwood Bridge, he also fears that CRC could cons ume future available funding for other projects. He said CRC will have to be the most actively managed transportation system in the U. S. it’s the least-cost approach. Lastly, Hayden Island is a feisty, wonderful group of Portlanders who have worked with the City on the Hayden Island Plan. There will be no net loss of local services on the island, he said, and whatever we move forward with must have a solution. Co-chair Hewitt clarified some of the PSC’s next steps: To reconvene in January and possibly more frequently; to continue integrating staff in the project office so there is a transparent relationship; to continue working on details of the design refinements and performance measures and how they connect; to have a more specific understanding about how refinements fit nto a realistic budget; and to talk about Hayden Island, the environment, and livability issues; and to continue the discussion in a collegial and positive way. He said Councilmember Leavitt will be attending the next PSC meeting as the Mayor of Vancouver. Cochair Hewitt thanked Mayor Pollard who, he said, is a man of great character. He has always been constructive and has held the best interest of the community in mind. Tolling study update This agenda item was not covered and will be discussed at a future meeting. Performance measures updateThis agenda item was not covered and will be discussed at a future meeting. Next meeting Friday, January 22, 2010 | 10:00 a. m. – 12:30 p. m. Washington State Department of Transportation (WSDOT) 11018 NE 51st Circle, Vancouver, WA Appendices Appendix A Columbia River Crossing: Road to Construction, December 2, 2009 Policy Statement from Council President Bragdon and Mayor Adams Appendix B Email correspondence between Catherine Ciarlo of Mayor Adams’ office and Richard Brandman, CRC project director, November 30, 2009 Appendix C Memorandum from Terence Thatcher, Deputy City Attorney, o Catherine Ciarlo, Office of Mayor Sam Adams, December 4, 2009 9 360/737-2726 503/256-2726 WWW. COLUMBIARIVERCROSSING. ORG 700 WASHINGTON STREET, SUITE 300, VANCOUVER, WA 98660 APPENDIX A Columbia River Crossing: Road to Construction Policy Statement for Council President Bragdon and Mayor Adams December 2, 2009 I. Guiding Policy Statement A change in direction is needed for the Columbia River Crossing Project to be successfully accomplished. The current proposal is mired in financial challenges, and the region risks missing critical federal deadlines unless we change course.The project refinement recommendation before the PSC would defer or remove certain elements of the proposed project and result in a cost reduction of $515 – $650 million, or roughly 15% of project capital costs. We believe that this is a step in the right direction, but more fundamental change is required to: †¢ match the scope and scale of the project to realistic federal, state and local revenues (including tolls), essentially designing the project to budget †¢ design the project to achieve specific performance measures †¢ make essential, urgent project decisions in collaboration with members of the Project Sponsors Council and their staffs daylight the project’s internal decision making to ensure an unrestricted flow of information to make all of the above possible In addition, it is important to underscore that we reject calls from project opponents to cancel or â€Å"restart† the project, as too much solid work has already been done. II. Refinement Action Requested at December 4th PSC Meeting We believe that an informed endorsement of any project changes by the PSC is critical to advance the project However, the materials provided for the December 4th meeting do not include adequate analysis of â€Å"refinement† impacts to support a decision.The PSC has previously requested that the project team use the performance measures being developed by the Performance Measures Advisory Grou p to guide the project refinement process and assess the effect on key interests and stakeholders, such as the freight industry and the ports. We have not yet seen analysis of potential refinements according to those specific measures. While we understand the need to move the project forward, the likely 18-month delay in federal transportation bill reauthorization gives us a window to make sure we get the project right.We believe the current proposal contains incomplete and potentially flawed assumptions underlying the original proposal, particularly assumptions about demand forecasts, tax and toll revenues available for the project, and what those revenues can buy. In addition, we need to see performance-based criteria used to guide reconfiguration of the project, as the PSC has requested. The Project Sponsor Council needs to see clearly how the project – and proposed refinements – stack up against those criteria, including cost. APPENDIX AWe are proposing that PSC ag ency staff work directly with CRC project staff in a short, defined window to continue the current refinement work to create a realistic road to construction that includes: 1. A reliable budget based on realistic revenue projections; 2. A realistic assessment of the relationship between tolls, updated demand forecasts, desired land use patterns and size of the CRC facilities 3. Project elements that are firmly based in performance outcomes 4. Recognition that the interstate system must function in concert with local ystems In short, we believe the Project Sponsors Council needs to make decisions about the many attributes of the project based on how different options perform, for the goals we all agree on. We need to have that information before us so we can realistically evaluate options and buy the best product which available resources can buy. APPENDIX B APPENDIX B APPENDIX C APPENDIX C APPENDIX C The conceptual finance plan below shows a range of CRC Project cost estimates based on the proposed project refinement recommendations and the latest results of the Cost Estimate Validation Process (CEVP).Costs and revenues are shown in year -ofexpenditure dollars. The finance plan is preliminary; refinements are in process based on the recent results from the toll sensitivity, CEVP, and other analyses. The finance plan may be adjusted based on legislative, DOT, FHWA/FTA, public, and PSC reviews. Preliminary Finance Plan Scenarios In Billions of Year-of-Expenditure Dollars 60% Probability 90% Probability Highway Transit $2. 40 $0. 79 $2. 65 $0. 89 Total $3. 19 $3. 54 $1. 15-$1. 29 $0. 75-$0. 85 $1. 15-$1. 19 $0. 40 $0. 75-$0. 79 $1. 25-$1. 49 $0. 90-$1. 00 $1. 15-$1. 39 $0. 40 $0. 75-$0. 89 $3. 19 $3. 54 Cost RevenuesTolls ODOT and WSDOT Federal Highway Transit (New Starts) Total The plan calls for securing $400 million in Projects of National and Regional Significance funding from the upcoming federal transportation reauthorization act. While the toll rate struct ure for the CRC Project will not be established until after tolling is authorized by the Washington legislature, the range of financial capacity from tolls that are shown above are based on the Tolling Study Committee analysis, which found a variety of rate structures capable of providing the amounts shown; no specific toll rate structure is assumed in the finance plan.The amount shown for the DOTs is subject to an intergovernmental agreement between the DOTs allocating cost responsibility and legislative approvals of the required funding, and could vary depending on final disposition of other elements of the f inance plan. The New Starts funding presumes the recent statutory language secured by Senator Murray, and requires FTA approval of a Full Funding Grant Agreement based on the New Start rating regulations. Appendix C – CRC Tolling Study Committee ReportTravel Demand Forecasting, Revenue Projections, Determination of Net Revenues, and Financial Capacity Analysis Travel D emand Forecasting Regional travel demand models are used to forecast how people may choose to travel in the future given projected growth patterns for population and employment as well as future transportation facilities. The Portland-Vancouver area regional travel demand model used for the Columbia River Crossing (CRC) project was developed jointly by the Portland-area Metro Regional Government (Metro) and the Southwest Washington Regional Transportation Council (RTC).The model, run by Metro and peer-reviewed by a national panel of experts in October 2008, applies a four-step process in estimating future travel demands: Step 1: Person-trips are estimated from adopted regional growth projections and adopted regional transportation plans. Growth projections include population and employment forecasts throughout the metropolitan region. Transportation plans include future transportation facilities, including roadways, transitways, and bicycle and pedestrian facilities.Step 2: Predicte d person-trips are then distributed to zones across the metropolitan region. Over 25,000 network routes, or â€Å"links,† are used in the model, as well as over 2,000 transportation analysis â€Å"zones. † The model predicts how many people will want to travel from one zone to another via different links. Step 3: Person-trips between each of the zones are broken down by mode of travel (drive alone, carpool, transit, bicycle, walking) based on each option’s attractiveness when considering travel time and cost, as well as each traveler’s socioeconomic characteristics.Travel costs include parking fees, transit fares, tolls, and automobile operating costs. Step 4: The model assigns each trip to a specific routing in the model’s network. For the CRC’s tolling analysis work, the model predicts how many people are projected to cross the Columbia River on I-5 and I-205 via automobile and transit. The model is used to predict weekday peak period vehi cle volumes across each bridge, which are later used to develop daily traffic demands.The regional travel demand model is appropriate for comparing the relative weekday effects of travel across the Columbia River for different tolling scenarios. The model used for tolling analysis purposes allows relative generalizations to be made about I-5 and I-205, including vehicle and transit trips, and the duration of vehicular congestion experienced along each river crossing. Daily and hourly traffic volumes in 2030 would vary for the I-5 bridge and the I-205 bridge with different tolling levels.Based on information included in the model regarding how much people value their time for different types of trips, lowering or raising toll rates affects how many people choose to pay the specific toll, divert to the alternative bridge, travel during another time of the day, take transit, or travel to a different destination altogether. The scenario analysis found: CRC Tolling Study Committee Report Appendix C 1 January 2010 †¢ For most of the I-5 only toll scenarios, the majority of drivers would not change their travel patterns.Some would choose a new destination or a non-tolled route. Diversion to transit is minimal due to the already increased ridership associated with project improvements. †¢ Route diversion tends to increase as toll rates increase; however, the percentage of diversion tends to be lower during peak periods when travelers’ willingness to pay tolls may be higher and/or alternative routes are congested, and thus, time consuming. †¢ For scenarios that toll both the I-5 and I-205 bridges, traffic levels would be higher on I-5 and lower on I-205 compared to tolling only the I-5 bridge.However, compared to the No Toll project scenario, total cross-river traffic demand would be less on both the I-5 and I-205 bridges as many trips would divert to transit or not be made across the Columbia River. See the attached spreadsheet titled Traffic Eff ects for Tolling Scenarios for more detailed information about traffic diversion, average daily traffic volumes and hours of congestion predicted for each of the tolling scenarios. Additional work refining one or two likely scenarios will be undertaken to inform financial planning and final rate setting prior to issuing toll revenue bonds.That analysis would independently review and refine many key assumptions, including land use projections, and also examine parts of the network beyond the I-5 and I-205 river crossings, such as key interchanges with these highways, and critical roadways and intersections. An updated and detailed toll traffic and revenue report is warranted before issuing debt, and would be required by the credit rating agencies if any of the bonds were to be backed solely by toll revenues. Revenue ProjectionsThe annual traffic and revenue projections produced for the CRC project are derived from outputs of the Metro regional travel demand model. The Metro model emp loys inputs for users’ values of time as a surrogate for the relationship of time and cost reflecting the potential toll on the I-5 bridge crossing. The regional model was further supplemented by the development of a corridor level traffic model (VISSIM) which provided traffic operation capabilities to estimate the effect of future congestion in the corridor.This became the basis for â€Å"post-processing† the model results to refine traffic demand projections. The traffic and revenue projections show both the annualization of the direct Metro model results and the refined post-processed results, the latter of which bracket the mid-range of anticipated traffic and revenue impacts. Ten toll scenarios that vary toll rates and toll locations (I-5 only or both I-5 and I-205 bridges) were developed by the CRC team for analysis, in conjunction with the Oregon and Washington departments of transportation.Toll rates were assumed to vary by time of day according to a fixed sche dule that applies higher toll rates in peak periods and lower rates during off-peak times when demand is less. Toll rates were originally specified in constant year 2006 dollars in the project’s Draft Environmental Impact Statement (EIS); however the actual tolls paid are assumed to increase with expected inflation, projected at 2. 5 percent per year. See Exhibit 1 for information about each scenario. CRC Tolling Study Committee Report Appendix C 2 January 2010It is expected that the toll collection will be all-electronic, which allows tolls to be collected without toll booths causing drivers to slow down to pay tolls. Thus, drivers would either have a transponder, paying the rates noted in Exhibit 1, or the vehicle would be identified via the license plate, in which case a $1. 00 â€Å"pay-by-plate† processing fee would be added to each transaction. For example, a vehicle traveling during the peak period (6 am to 10 am) without a transponder would be charged $2. 00 pl us the $1. 00 processing fee, or $3. 00 for their trip in one direction.Exhibit 1. Tolling Scenarios Evaluated Min/Max Toll Rate (2006$) Tolling I-5 Only Scenario 1D Additional Price Points Scenario 1E 1. 5x DEIS Toll Rate Scenario 1F 2x DEIS Toll Rate Scenario 1G 3x DEIS Toll Rate $2. 69 / $5. 38 $3. 00 / $6. 00 Flat Toll Rate $2. 02 / $4. 03 $2. 00 / $4. 00 Scenario 1C $1. 34 / $3. 36 $1. 50 / $3. 00 Lower than DEIS Toll Rate $2. 22 $1. 00 / $2. 50 Scenario 1B $1. 34 / $2. 02 $1. 65 DEIS Toll Rate $1. 34 / $2. 69 $1. 00 / $1. 50 Scenario 1A Min/Max Toll Rate (2018$) $1. 00 / $2. 00 Scenarios Analyzed Tolling I-5 and I205 DEIS Toll Rate 1. 34 / $2. 69 Scenario 2A DEIS Toll Rate $2. 00 / $4. 00 $2. 69 / $5. 38 Scenario 2B Lower than DEIS Toll Rate $2. 00 / $3. 00 $2. 69 / $4. 03 Scenario 2C Lower I-205 Toll I-5: $2. 00 / $4. 00 I-205: $2. 00 / $3. 00 I-5: $2. 69 / $5. 38 I-205: $2. 69 / $4. 03 1 2 Toll Schedule Type Symmetric Variable Toll Schedule Symmetric Fixed Toll Schedule July 1, 2018 (FY 2019) Each Way Symmetric Variable Toll Schedule 1 Pre-Completion Tolling Tolling Start Date $4. 03 / $8. 07 $1. 00 / $2. 00 Tolls Collected Each Way Symmetric Variable Toll July 1, 2013 Schedule (FY 2014)Southbound Symmetric Variable Toll July 1, 2018 2 Schedule (FY 2019) Only Pre-Completion Tolling to be added to any other scenario A round-trip toll is collected on scenarios tolling Southbound only The rates for commercial vehicles are assumed to be proportionately greater than passenger cars, roughly as a function of the number of axles for a commercial vehicle. For the purposes of this analysis, it is assumed that commercial vehicles will pay on an N minus one basis based upon axles, that is, a five-axle truck would pay four times the passenger car rate (five minus one times the passenger rate).Model volumes were provided for medium (three-axle) and large (five-axle) trucks. The exact commercial toll schedule will be a function of the future development of the electr onic toll collection system. Toll schedules assumed for each scenario are shown on the attached spreadsheets, Toll Rate Schedules for I-5 Scenarios and Toll Rate Schedules for I-5 and I-205 Scenarios. CRC Tolling Study Committee Report Appendix C 3 January 2010 Determination of Net Revenues To arrive at the portion of revenues available to support financing via the repayment of debt, several eductions must be made from gross toll revenues and fees. Key among these deductions is the obligation to pay for toll collection and facility operation and maintenance (O) costs for the bridge and roadway. The deductions from gross revenues include the following: †¢ †¢ †¢ †¢ Potential toll revenue lost due to uncollectable accounts Credit card and banking fees associated with toll payment and accounts Toll collection operations and maintenance costs, including maintenance, periodic replacement of equipment, back office costs and bridge insuranceRoutine operations and mainten ance of the bridge and roadway facilities Facility O costs include routine maintenance of the bridge and all roadways within the project area as well as incident response for the project area. After gross revenues have paid all of the above deductions, including toll collection and facility O costs, the remaining net revenue is available for debt repayment. The net revenue stream represents the cash flow that can be used directly for financing to repay bonds, or to directly pay for construction if pre-completion tolling is implemented.In addition to bond repayment, there will be a periodic need for renovation and rehabilitation activities for the project. These costs are assumed to be funded out of excess net revenues after annual debt repayments that result from the debt service coverage requirement placed on net revenues. A reserve account may be created that would be funded from these excess net toll revenues. Financial Capacity Analysis Tolling the I-5 bridge does not have the f inancial capacity to yield a funding contribution equal to the $2. 38 billion cost in year of expenditure dollars for the highway portion of the project.Rather, a number of funding sources will likely be needed to build the project, including federal and state (Oregon and Washington) funding sources combined with funding from tolls. For the purposes of this analysis, the bridge is assumed to be substantially completed by the end of fiscal year 2018, with revenue operations beginning on July 1, 2018 (state fiscal year 2019). Toll bond proceeds are assumed to be received in the middle and latter years of construction to maximize their funding contribution, and other funding CRC Tolling Study Committee Report Appendix C 4 January 2010 ources are assumed to cover construction costs in the initial years. Other project improvements to the highway and interchanges would continue into 2019, and the last bonds needed to fund these completion activities are assumed to be issued after tolling has commenced. The CRC toll bonds were assumed to be backed by other revenue sources, and the full faith and credit of one or both states to provide the bonds with a credit rating and interest costs equivalent to that of general obligation debt of either state. The use of toll bonds will increase the total costs paid during and after construction due to the added interest and issuance osts. However, these financing costs are treated separately from the project capital cost during construction. Increased use of toll bonds will increase the total costs paid due to added interest and issuance. The construction cost does not increase as a result; rather it adds a financing cost both during and after construction. State-backed bonds are limited by Washington State Constitution to a 30 year repayment period. Accordingly, debt with the maturity of up to 30 years was assumed to maximize the total proceeds that can be generated by the forecasted net toll revenue stream.A minimum debt service coverage factor of 1. 25 was assumed for state-backed debt whereby net toll revenues were maintained at 1. 25 times the projected annual debt service. The intent of this is to provide some protection against draws on the revenue sources pledged to backup toll revenues, such as motor vehicle fuel tax revenues, in the event of lower-than-projected toll revenue performance. Interest rates on state-backed bonds are assumed to be 6. 00 percent for current interest bonds (â€Å"CIBs†) and 6. 50 percent for capital appreciation bonds (â€Å"CABs†), based on the current double-A credit ratings in both states.Issuance costs are assumed to be 0. 2 percent of the total par amount of bonds issues for state-backed bonds. Additional costs would include 0. 5 percent of the par amount for current interest bonds for underwriting (underwriter’s discount) and 1. 0 percent of the par amount for capital appreciation bonds. Interest is assumed to be capitalized through the year befo re the project comple

10 Easy Ways for Students to Raise Their FICO Score

10 Easy Ways for Students to Raise Their FICO Score Why Students Need a Good FICO Score A FICO score is a type of credit score that is calculated with software from Fair Isaac Corporation (FICO).  Having a good FICO score is very important if you want to get approved for fair interest rates on private student loans, credit cards, and other sources of credit. FICO scores cant be improved overnight, but there are  10 easy steps that students can take to raise their FICO score Step 1: Establish New Accounts If you want to establish credit or raise your FICO score, you can get a credit card in your name and use it responsibly. This means charging regularly and paying the balances off regularly as well. If possible, get a card with a high limit and always keep the card balance below 25 percent. Step 2: Piggyback on Another Account If a parent or some other responsible individual is willing to add your name to their credit card account, it might help your credit and boost your FICO score. Every time this person charges and makes payments on the account it will look good for you. Read more about the legality of piggybacking. Step 3: Get Secured Debt If you are having difficulty getting approved for a regular credit card, try getting a secured credit card. These cards are perfect for those who have poor credit because they allow you to make charges that can be covered by money you have already applied to an account. There is no way for you to overcharge or miss payments. Eventually, use of the card will increase your FICO score. Step 4: Dont Apply for Too Much Credit If you have a flurry of credit inquiries on your credit history because you applied for 10 different credit cards and 5 different loans in a three-month period, it can lower your FICO score. If you can, try to limit yourself to two inquires each year. Step 5: Increase Your Current Card Limits The lower your balances are on your credit cards in comparison to the limit of your credit cards, the better your credit report will look and the higher your FICO score will be. If getting the balances paid down is proving to be a problem, or even if its not, contact your creditors and ask for a higher limit. Step 6: Pay Off Old Accounts If you have old, unpaid debts on your credit report, it can really drag your FICO score down. One of the best ways to undo the damage that has been done is to pay off old accounts and make arrangements with the creditors to have the judgments removed. Step 7: Dont Close Old Accounts Even if they are unused, old credit  accounts attribute to your length of credit history and affect your score. The longer you have an account, the better it looks. Closing old accounts can lower your FICO score even further. Step 8: Always Pay Bills On Time Not paying your bills on time is a sure-fire way to lower your FICO score. Each late payment can lower your score by as much as 20 points. In contrast, paying your bills on time consistently can raise your FICO score. Step 9: Lower Your Debt Having a significant amount of outstanding debt, such as student loans, cars loans, and other types of installment loans, can lower your debt-to-income ratio and in turn, your FICO score. If you can lower your debt; your FICO score will begin to rise at a fast pace. Step 10: Get Help If you are having a hard time managing your credit and raising your FICO score to an acceptable level, consider getting professional help through a low-cost or no-cost credit counseling service.

Act 2, Scene 3 of A Raisin in the Sun

Act 2, Scene 3 of 'A Raisin in the Sun' Explore this plot summary and study guide for Lorraine Hansberrys play, A Raisin in the Sun, which provides an overview of Act Two, Scene Three. One Week Later - Moving Day Scene Three of the second act of A Raisin in the Sun takes place a week after the events of Scene Two. It is moving day for the Younger family. Ruth and Beantha are making last minute preparations before the movers arrive. Ruth recounts how she and her husband, Walter Lee, went to a movie the previous evening - something they have not done in a very long time. The romance in the marriage seems to have been rekindled. During and after the movie, Ruth and Walter held hands. Walter enters, filled with happiness and anticipation. In contrast to previous scenes during the play, Walter now feels empowered - as though he is finally steering his life in its proper direction. He plays an old record and dances with his wife as Beneatha pokes fun at them. Walter jokes with his sister (Beneatha aka Bennie), claiming that she is too obsessed with civil rights: WALTER: Girl, I do believe you are the first person in the history of the entire human race to successfully brainwash yourself. The Welcoming Committee The doorbell rings. As Beneatha opens the door, the audience is introduced to Mr. Karl Lindner. He is a white, bespectacled, middle-aged man who has been sent from Clybourne Park, the soon-to-be neighborhood of the Younger family. He asks to speak with Mrs. Lena Younger (Mama), but since she is not home, Walter says that he handles most of the family business. Karl Lindner is the chairman of a welcoming committee - an association that not only welcomes newcomers, but that also deals with problematic situations. Playwright Lorraine Hansberry describes him in the following stage directions: He is a gentle man; thoughtful and somewhat labored in his manner. (Note: In the film version, Mr. Lindner was played by John Fiedler, the same actor who provided the voice of Piglet in Disneys Winnie the Pooh cartoons. Thats how timid he is meant to seem.) Yet, despite his gentle mannerisms, Mr. Lindner represents something very insidious; he symbolizes a large portion of 1950s society who were believed they were not overtly racist, yet quietly allowed racism to thrive within their community. Eventually, Mr. Lindner reveals his purpose. His committee wants their neighborhood to remain segregated. Walter and the others become very upset by his message. Sensing their disturbance, Lindner hurriedly explains that his committee wants to buy the new house from the Youngers, so that the black family will make a healthy profit in the exchange. Walter is dismayed and insulted by Lindners proposition. The chairman leaves, sadly saying, You just cant force people to change their hearts son. Directly after Lindner exits, Mama and Travis enter. Beneatha and Walter teasingly explain that the Welcoming Committee of Clybourne Park cant hardly wait to see Mamas face. Mama eventually gets the jest, though she does not find it amusing. They wonder why the white community is so against living next to a black family. RUTH: You should hear the money those folks raised to buy the house from us. All we paid and then some. BENEATHA: What they think we going to do - eat em? RUTH: No, honey, marry em. MAMA: (Shaking her head.) Lord, Lord, Lord... Mama's Houseplant The focus of Act Two, Scene Three of A Raisin in the Sun shifts to Mama and her houseplant. She prepares the plant for the big move so that it wont get hurt in the process. When Beneatha asks why Mama would want to keep that raggedy-looking old thing, Mama Younger replies: It expresses me. This is Mamas way of recalling Beneathas tirade about self-expression, but it also reveals the affinity Mama feels for the enduring houseplant. And, even though the family may joke about the ragged condition of the plant, the family strongly believes in Mamas ability to nurture. This is evident by the Moving Day gifts they bestow upon her. In the stage directions, the gifts are described as: a brand new sparkling set of tools and a wide gardening hat. The playwright also notes in the stage directions that these are the first presents Mama has received outside of Christmas. One might think that the Younger clan is on the cusp of a prosperous new life, but there is yet another knock at the door. Walter Lee and the Money Filled with nervous anticipation, Walter eventually opens the door. One of his two business partners stands before him with a sobering expression. His name is Bobo; the absent business partner is named Willy. Bobo, in quiet desperation, explains the distressing news. Willy was supposed to meet Bobo and travel to Springfield to quickly obtain a liquor license. Instead, Willy stole all of Walters investment money, as well as Bobos life savings. During Act Two, Scene Two, Mama entrusted $6500 to her son, Walter. She instructed him to place three thousand dollars in a savings account. That money was meant for Beneathas college education. The remaining $3500 was for Walter. But Walter didnt just invest his money he gave all of it to Willy, including Beneathas portion. When Bobo reveals the news of Willys betrayal (and Walters decision to leave all of the money in the hands of a con-artist), the family is devastated. Beneatha is filled with rage, and Walter is wroth with shame. Mama snaps and repeatedly hits Walter Lee in the face. In a surprise move, Beneatha actually stops her mothers assault. (I say surprise move because I expected Beneatha to join in!) Finally, Mama wanders around the room, recalling how her husband had worked himself to death (and all apparently for naught.) The scene ends with Mama Younger looking up to God, asking for strength.