FoundersForge to partner with United Way to help flood-impacted small business
Executive Director David Nelson joined First at 4 to describe how the cooperation will help small businesses throughout the region.
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Yahoo
8 hours ago
- Yahoo
Helene-hit businesses want grants, but the SBA is 'hamstrung' by lack of federal funding
FLETCHER - Speaking to a crowd of local leaders and media in Bill Moore Community Park on Aug. 20, Gov. Josh Stein said the federal government "has to give much more money" to the region's recovery from Tropical Storm Helene and that state and federal lawmakers need to approve more grant funding for small businesses. "Small businesses took it on the chin," Stein told the Citizen Times. "The economy of Western North Carolina is more dependent on small business than most other regions." His worry is that both the region's economic recovery and physical recovery could slow if funds don't come to the region, a fear shared by residents, businesses and regional leaders. "I shudder to think," Stein said of WNC not receiving more federal funding for Helene recovery. Calls for small business relief have steadily continued after Helene, which caused an estimated $60 billion in damages and killed over 100 in the state. But North Carolina's district leader for the U.S. Small Business Administration Mike Arriola described the agency as having its hands tied by a lack of federal funding for forgivable loans or grants for small businesses on Aug. 20. At the same time, Republican state lawmakers have been wary that passing a small business grant program would require a state constitutional amendment. Nearly a year after the storm, unemployment in Buncombe County, Western North Carolina's urban center, has remained above pre-storm levels and workers have had to navigate closures, staff losses and a shifting national economy. Small businesses are struggling, having lost an average $322,000 from the storm, according to the recently released 2025 Local Business Impact Survey from the regional nonprofit Mountain BizWorks. Of the over 700 businesses surveyed by the nonprofit, 86% of them are are performing at or below pre-Helene levels, according to the report. More: WNC awarded $7.6B in federal, state aid after Helene, report says. More still needed Small business disaster grants were identified as the "most sought-after recovery resource" for small businesses in the survey, but regional officials' hands have been tied as federal funding lags behind requests. As of June 30, the state has been awarded $4.71 billion in federal funding, according to an Aug. 15 report from the Governor's Recovery Office for WNC, or GROW NC. That's around 8% of the estimated $60 billion in damages. Gov. Josh Stein has requested $19 billion in additional federal funding — a request that Congress has yet to consider. A total of $7.6 billion has been provided through federal and state aid. During a Aug. 20 webinar on the Mountain BizWorks study, Arriola said the agency, which would likely distribute said grants, has its hands tied. The directive and funding for a small business grant program through the agency could only come from Congress. "Until... the legislative branch can come up with those specific fixes, (the) SBA is really kind of hamstrung." Arriola said. The SBA provides small business loans through it's disaster relief programs, offering more than $400 million to businesses in WNC, so far. But many small businesses are "already shouldering on quite a bit of debt as a result of COVID," Arriola said. Taking on additional disaster loans could add to previous debt whereas grants wouldn't have to be repaid. "We've pretty much done all within our power," Arriola said of SBA aiding Helene-impacted businesses. Gov. Stein calls for more federal funding for small businesses Small business grant funding has only come through mostly nonprofit programs, though some have been supported by the state. No grant program for small businesses has been approved by Congress. The Western North Carolina Small Business Initiative has distributed $55 million in grants to over 2,100 small businesses with physical damage from the storm, according to a August presentation to the state's WNC Recovery Committee. Funding for the initiative came from Dogwood Health Trust, Duke Endowment and the state of North Carolina Grants were limited to $55,000. Other nonprofits, like Mountain BizWorks, have distributed $6.8 million. Another $55 million program was announced by the state in May, but only funds local governments with infrastructure projects that support local businesses. Rep. Chuck Edwards, a second-term Republican representing most of WNC, introduced the "Helene Small Business Recovery Act" to the House in March. A similar bill was introduced to the Senate by Sen. Thom Tillis, who is retiring in 2026, in April. Though both bills were referred to committee, neither has seen action since their introduction. More: WNC awarded $7.6B in federal, state aid after Helene, report says. More still needed More: WNC's small businesses lost an average of $322,000 due to Helene, nonprofit study says Will Hofmann is the Growth and Development Reporter for the Asheville Citizen Times, part of the USA Today Network. Got a tip? Email him at WHofmann@ or message will_hofmann.01 on Signal. This article originally appeared on Asheville Citizen Times: Helene-hit businesses want grants. The SBA is 'hamstrung' by Congress Solve the daily Crossword
Boston Globe
20 hours ago
- Boston Globe
Microsoft reviewing Israeli military's use of its tech amid worker protests
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up CLIMATE Advertisement How hurricanes, fires, and floods put drugs and medical supplies at risk Bottles of prescription medication on shelves at a Walgreens pharmacy in Deerfield, Ill. Nam Y. Huh/Associated Press When Hurricane Helene barreled across several southern states last fall, it destroyed homes and killed more than 150 people. The storm also took out one of the country's main factories producing intravenous fluid bags widely used in hospitals. The ensuing shortage forced manufacturer Baxter International Inc. to ration supplies and hospitals to use fewer IV bags, illustrating the risks that climate change poses to the pharmaceutical supply chain. Nearly two-thirds of US drug production facilities are located in areas that have had a major disaster like a fire or hurricane in recent years, according to a new study published in the peer-reviewed journal JAMA on Wednesday. The paper concluded that plants across the drug supply chain, from those that manufacture active pharmaceutical ingredients to packaging facilities, risk disruption as climate change ups the odds of extreme weather. These threats are especially pressing as the Trump administration makes a push to ramp up US drug manufacturing, say the authors of the new research. — BLOOMBERG NEWS Advertisement TECHNOLOGY Google's Pixel 10 phones raises the ante on artificial intelligence Google headquarters in Mountain View, Calif. Justin Sullivan/Getty Google on Wednesday unveiled a new line-up of Pixel smartphones injected with another dose of artificial intelligence that's designed to do everything from fetch vital information stored on the devices to help improve photos as they're being taken. The AI expansion on the four Pixel 10 models amplifies Google's efforts to broaden the use of a technology that is already starting to reshape society. At the same time, Google is taking a swipe at Apple's Achilles' heel on the iPhone. Apple so far has only been able to introduce a few basic AI features on the iPhone while failing to deliver on last year's promise to deliver a more conversational and versatile version of its often-blundering virtual assistant Siri. Without mentioning the iPhone by name, Google has already been mocking Apple's missteps in online ads promoting the four new Pixel models as smartphones loaded with AI technology that consumers won't have to wait for more than a year to arrive. Taking advantage of a more advanced processor, Google is introducing a new AI feature on the Pixel 10 phones called 'Magic Cue' that's designed to serve as a digital mind reader that automatically fetches information stored on the devices and displays the data at the time it's needed. For instance, if a Pixel 10 user is calling up an airline, Magic Cue is supposed to instantaneously recognize the phone number and display the flight information if it's in Gmail or a Google Calendar. The Pixel 10 phones will also come with a preview feature of a new AI tool called 'Camera Coach' that will automatically suggest the best framing and lighting angle as the lens is being aimed at a subject. — ASSOCIATED PRESS Advertisement WALL STREET Hint of mini Labubu launch sends Pop Mart stock soaring 12 percent A giant Labubu figure is seen as people visit the newly opened Pop Mart store selling Labubu toys at a shopping mall in Berlin on July 25. TOBIAS SCHWARZ/AFP via Getty Images Chinese retailer Pop Mart's stock surged more than 12 percent Wednesday, to the highest level since the company went public in 2020, after its CEO, Wang Ning, said a mini version of its wildly popular Labubu dolls would be released as soon as this week. The toothy elves have become coveted accessories around the world, spotted dangling off designer handbags worth thousands of dollars and collected by the likes of Rihanna, Dua Lipa, and Lisa, a member of the K-pop group Blackpink. The mini version will be able to be hung on mobile phones, Wang told investors on an earnings call. Previous new releases have sold out within minutes, crashed the company's website and app, and sparked hourslong lines outside of stores. Most of Pop Mart's revenue comes from China. But during the first six months of this year, revenue from the Americas jumped 1,142 percent from the previous year as Labubu enthusiasm took off around the world, the company reported Tuesday. Sales in Asia outside of China were up 258 percent and from Europe and other regions, 729 percent. The global craze for Labubus drove record revenue for Pop Mart during the first six months of the year, up more than 200 percent when measured in Chinese renminbi. Labubus accounted for more than a third of Pop Mart's total revenue over this period. Pop Mart's stock, which is traded in Hong Kong, has risen more than 650 percent over the past year. — NEW YORK TIMES Advertisement PHARMACEUTICALS Novo's new CEO freezes hiring in push to rein in costs Novo Nordisk headquarters in Bagsvaerd, Denmark. Mads Claus Rasmussen/Associated Press Novo Nordisk A/S implemented a global hiring freeze as the Danish drugmaker seeks to cut costs and regain its footing in the competitive market for weight-loss treatments. The halt will apply across all markets and departments, with the exception of business-critical roles, a company spokeswoman said on Wednesday. Novo's new chief executive, Maziar Mike Doustdar, has signaled that job cuts may be part of a promised revamp, telling reporters last month that Novo needs to exercise greater discipline and prudence on spending. He said he plans to review the company's cost base. The maker of Wegovy and Ozempic is fighting to claw back ground after losing its lead in the US obesity market to rival Eli Lilly & Co. Lilly's weight-loss franchise is poised to overtake Novo's this year and may hold more than half of a $100 billion global obesity market by 2030, Bloomberg Intelligence analyst Michael Shah said. Novo ousted its longtime CEO in the second quarter as the foundation that controls the company pushed for an overhaul, and Doustdar took over earlier this month. Novo's workforce mushroomed to more than 78,000 people in recent years as the drugmaker rushed to boost production of its blockbusters Ozempic and Wegovy. — BLOOMBERG NEWS ACQUISITIONS Lowe's buying Foundation Building Materials for about $8.8 billion as it intensifies focus on pro builders A Lowe's home improvement store in Philadelphia. Matt Rourke/Associated Press Lowe's is buying Foundation Building Materials, a distributor of drywall, insulation, and other products, for approximately $8.8 billion as the home improvement retailer intensifies its focus on professional builders. FBM also provides metal framing, ceiling systems, commercial doors, and hardware and other products that serve large residential and commercial professionals in both new construction and repair and remodel applications. It has more than 370 locations in the United States and Canada serving 40,000 professional customers. The acquisition is part of Lowe's move to provide more options for professional builders. The Mooresville, N.C.-based company recently closed on its $1.3 billion acquisition of Artisan Design Group, a provider of design, distribution, and installation services for interior surface finishes, including flooring, cabinets, and countertops, to home builders and property managers. Rival Home Depot has been making similar moves. In June the home improvement retailer announced that it was buying specialty building products distributor GMS for $4.3 billion. GMS Inc. of Tucker, Ga., is a distributor of specialty building products like drywall, steel framing, and other supplies used in both residential and commercial projects. Home Depot's acquisition of GMS came after it purchased SRS Distribution, a materials provider for professionals, last year for more than $18 billion including debt. SRS provides materials for professionals like roofers, landscapers, and pool contractors. — ASSOCIATED PRESS Advertisement
Business Wire
a day ago
- Business Wire
Publix Named to the 2025 People Companies That Care List
LAKELAND, Fla.--(BUSINESS WIRE)--Publix was named to the PEOPLE Companies that Care list for the sixth straight year. The list recognizes companies in the U.S. that are successful in business while also taking great care of their people, the communities where they operate and the environment. 'At Publix, we are dedicated to the dignity, value and employment security of our associates and believe it's our responsibility to give back to the communities we serve,' said Publix Director of Communications Maria Brous. 'We are honored to be recognized as a company that cares about our people and communities.' Care for associates Publix is committed to being a great place to work and offers a comprehensive benefits package to its associates. This spring, the company enhanced its mental health benefit that, among other resources, provides free counseling sessions to associates as well as their household members and dependents under the age of 26. Publix is also the largest employee-owned company in the United States, offering associates the opportunity to become company owners through its employee stock ownership plan, 401(k) plan and employee stock purchase plan. Care for communities The company takes its role as a responsible member of its communities seriously. During Hurricane Helene in September 2024, Publix stores in the hardest-hit areas were among the first to reopen after the storm to provide residents with a gathering place to rest, charge their cell phones and use Wi-Fi to contact family and friends. Meals, drinks, food and ice were donated to those affected and first responders in the immediate aftermath and again after Hurricane Milton three weeks later. The company also provided other necessities like personal hygiene products, cleaning supplies and pet food. Care for the environment Publix is focused on doing good for the environment throughout its operations. Efforts include restoring water in the Florida Everglades, tree plantings to support reforestation efforts in the Southeast, coral reef restoration in two South Florida national parks, improving fuel usage in transportation, making its stores and support locations more energy efficient, offering sustainably and responsibly sourced seafood options in stores, and implementing an expansive recycling program across its operations. During the company's Good Together environmental campaign in April, Publix associates and customers donated more than $2.6 million to help care for and protect natural resources in the company's eight-state operating area. Methodology In compiling the list, PEOPLE partnered with Great Place To Work to analyze surveys and data from more than 8.2 million employees on their experiences of how their workplaces have made a difference in their lives and communities. Rankings also reflect Great Place To Work's assessment of the generosity of each organization's benefits and its philanthropic and community support, with a particular focus on activities that occurred in the last year. To read about the ranking and see the PEOPLE Companies that Care list, visit Publix, the largest employee-owned company in the U.S. with more than 260,000 associates, currently operates 1,412 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky. For 28 consecutive years, the company has been recognized by Fortune as a great place to work. In addition, Publix's dedication to superior quality and customer service is recognized among the top in the grocery business. For more information, visit the company's newsroom at
