CHICAGO, IL – November 30, 2011 – If Black Friday was the start for your Holiday shopping and more still lies ahead, its not too late to think about a budget. There is a tendency for consumers to overspend during the holidays, but by planning ahead they can lessen the impact when their credit card bills start rolling in. The Better Business Bureau (BBB) and Clearpoint Credit Counseling have teamed up to offer financial tips and an online Holiday Planner Calculator to help make sure your holidays are merry and bright!

“The holidays are a joyous time, but it’s important to remember to stay within your budget,” said Steve J. Bernas, President and CEO of the Better Business Bureau serving Chicago and northern Illinois. “You don’t want to find yourself struggling to pay the bills after the holidays.”

The Holiday Planner Calculator, at http://video.bbb.org/clearpoint-holiday-tips/clearpoint-holiday-budgeting-calculator.html, can help determine an overall budget, decide how much to designate for each category (gifts, parties, travel, food and donations), then get into details like how much to spend on each person or budgeting for parties and travel. Creating a budget and sticking to it can be a challenge, but being more conscious of your holiday spending habits will help you start the new year without a lot of new debt.

The BBB offers more ideas for sticking to a budget:

Less Is More: Cut down on gift-giving. For work gatherings, have everyone draw a name and give one gift. Set limits with family members and then get creative about finding something in your new, lower price range. For the person who has everything, consider making a charitable donation in his or her name.

Do It Yourself: Homemade crafts and decorations can be fun to make and to give. Consider baking or canning your gifts this year. Give gift certificates for future services (babysitting, dog walking, leaf raking) or special events after the holidays (shows, ice skating).

Reduce, Reuse, Recycle: Use less of everything, because little things add up. Is it necessary to gift wrap that huge box? How about putting a “clue” under the tree instead and have the recipient find the present hidden someplace else in the house. Reuse gift bags – they are sturdy enough to be used five or six times. Make your own gift tags and decorations. Spray paint old candle holders gold or silver instead of buying new ones.

Trim Energy Costs: Switch to LED lights and you’ll not only burn less energy, you’ll need fewer strands because the lights are brighter. Turn off your outside decorations when you go to bed. Turn down the thermostat when no one is home. Combine shopping trips and errands, and carpool to family gatherings.

For more information on holiday shopping and finding businesses you can trust, visit www.bbb.org

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As a private, non-profit organization, the purpose of the Better Business Bureau is to promote an ethical marketplace. BBBs help resolve buyer/seller complaints by means of conciliation, mediation and arbitration. BBBs also review advertising claims, online business practices and charitable organizations. BBBs develop and issue reviews on businesses and nonprofit organizations and encourage people to check out a company or charity before making a purchase or donation.

Keeping Your Holiday Budget on Track: The Better Business Bureau Offers Help | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

SPENDING AND INCOMES: Consumer spending slowed to an increase of 0.2 percent in September while incomes fell by 0.1 percent, the first drop in incomes in more than a year.

MANUFACTURING: The Institute for Supply Management said that manufacturing activity expanded in October at the fastest pace since May, providing fresh evidence that manufacturing remains a bright spot for the economy.

OUTLOOK: Some economists are concerned that consumer spending, which accounts for 70 percent of total economic activity, could slow further if the government’s extended jobless benefits end in November.

Summary Box: Economy offers mixed picture (AP) | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

MANCHESTER (AFP) – Manchester City’s spending spree on players and salaries have led to record losses of 121.3 million pounds (191.9 million dollars), the club’s annual report revealed on Friday.

Although City’s turnover increased by 40 percent to 125 million pounds, this has been swamped by salary costs of 133.3 million, a 50 million rise on a year ago.

That puts City – bankrolled by Abu Dhabi-based owner Sheikh Mansour – behind Chelsea, whose wage bill is 142 million pounds, but ahead of Manchester United (123m) and Arsenal (110m).

City chief executive Garry Cook said the losses “should come as no surprise” but that the club would now scale back on new signings.

He said: “It is safe to say that player acquisitions on the scale we have seen in recent transfer windows will no longer be required in the years ahead now that we have such a deep and competitive squad.

“In 2009-10, we narrowly fell short of our goals on the pitch, but still achieved nine club records including our best-ever result in the Premier League.”

Cook said the squad was “in ideal shape” under Roberto Mancini’s management.

The annual report also shows that the club’s net spending on transfers has totalled 403 million pounds since 2008.

City’s net spending this summer was 96.6 million pounds – they actually spent around 126 million pounds but recouped 30 million pounds from the sale of Robinho and other players.

The club are currently fourth in the league four points behind leaders Chelsea.

Man City reveal record losses (AFP) | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

Exclusive Brands and Services are Key to Holiday Success

HOFFMAN ESTATES, Ill., Sept. 30 /CHICAGOPRESSRELEASE.COM/ — With holiday shopping starting early this year, Kmart will focus on exclusive products and services that will meet customers’ value-driven shopping needs this holiday season. In addition, Kmart recognizes that many of its customers are still not back to their pre-recession spending habits, and will provide more affordable and attainable ways for customers to save on the must-have gift options for the entire family.

“Recognizing that our customers are still trying to save money this holiday, Kmart will introduce an array of initiatives throughout the season in order to continue to offer the high-quality products and value our customers expect,” said Mark Snyder, chief marketing officer, Kmart. “In addition, we will also offer extended layaway to further help families purchase gifts during the holidays, such as the latest electronics, tools and apparel.”

Many Ways To Pay

As the shopping season continues to gain momentum, Kmart has introduced extended layaway. Kmart layaway gives its customers the ability to reserve their holiday purchases now in store and online, pay over time and pick up their items just in time for Christmas. The extended layaway program allows consumers to select their items and make bi-weekly payments over the course of 10 weeks, which is an increase from eight weeks. In addition, as the kick off to National Layaway Week takes place starting Oct. 4, Kmart is also announcing the inclusion of additional items available for online layaway. For more information, visit www.kmart.com/layaway.

For extra holiday savings and rewards beyond layaway, the recently launched Shop Your Way Rewards program allows members to earn 10 points for every $1 spent on qualifying goods and services purchased across Sears, Kmart, Lands’ End, mygofer and The Great Indoors – in store and online. Members can earn and redeem points on almost everything they buy, from electronics, apparel and food products at Kmart to an oil change at a Sears Auto Center and more. For more information, visit www.shopyourwayrewards.com.

Exclusive Brands and Hot Products

Kmart has announced another exclusive brand to their stores nationwide through the introduction of the Smart Sense™ line. This new Kmart brand includes a wide range of items including everything from snacks and beverages, to oral care, paper products, household cleaners and over-the-counter medications. In addition to the Smart Sense line, customers can now find the following exclusive brands, among many others, in Kmart stores nationwide:

• Casa Cristina™: A great way to add some stylish glamour to the home around the holidays, this new Kmart exclusive soft home collection created by well-known Hispanic journalist and talk show host Cristina Saralegui, encompasses a wide range of items for bed and bath.
• “Dream Out Loud” by Selena Gomez: Perfect for the tween or pre-teen, the collection of value-priced fashions inspired by Gomez’s signature style, includes junior sportswear, handbags, belts, scarves, hats, hair accessories, socks/hosiery and  footwear.
• Rebecca Bonbon: Offers distinct looks ranging from very feminine, bright and whimsical character-driven merchandise to the more stylish, trend-driven fashion statement available in apparel, outerwear, headwear, accessories, bags, cosmetics, sleepwear, home decor, plush and pet products.
• Bongo: For the latest trendy styles during the holidays, this leading lifestyle junior brand at Kmart offers products in apparel, footwear and other related accessories.
• Dora Loves Puppy: An ideal gift for kids, Kmart and Nickelodeon/Viacom Consumer Products (NVCP) continues to carry “Dora Loves Puppy,” an exclusive apparel, toy and specialty goods line designed around the top-rated preschool series, Dora the Explorer.

Kmart also recently announced its Fab 15 list for 2010, which features this holiday season’s most popular toys, including top brands like Hasbro and Mattel, as well as loveable characters that kids know and love, like Barbie, Mickey and more. For more information, visit www.kmart.com/fab15.

In addition, Kmart is making it convenient for customers to find exactly what they want, when they want it with online shopping tools, such as Kmart2go and mygofer. Through Kmart2go, customers can shop for millions of products via iPhone and Android apps, giving users complete access to the full list of items and categories available on Kmart.com, such as electronics, tools and apparel. Kmart2go customers can easily search, browse and buy directly from their phone, then have the order shipped to their door. Customers can also find a vast product assortment including food and grocery, health and beauty, appliances, electronics and more on mygofer.com. The easy-to-use service allows customers to order online and pick up items at their local Kmart location within hours, and in select areas, can even have their items delivered directly to their home or office.

For more information on holiday shopping and the latest promotions or offers at Kmart, visit www.kmart.com.

About Kmart

Kmart, a wholly owned subsidiary of Sears Holdings Corporation (Nasdaq: SHLD), is a mass merchandising company that offers customers quality products through a portfolio of exclusive brands that include Jaclyn Smith, Joe Boxer, Country Living, Route 66 and Smart Sense. For more information visit the company’s website at www.kmart.com or the Sears Holdings Corporation website at www.searsholdings.com.

SOURCE Kmart

http://www.kmart.comhttp://www.searsholdings.com

Kmart Will Focus on Quality and Value | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

LONDON (AFP) – Real Madrid manager Jose Mourinho has accepted Manchester City are “dominant in the market” after outbidding the Spanish giants to sign Serbia full-back Aleksander Kolarov.

Kolarov joined City last month for 16 million pounds as part of the breathtaking spending spree which has seen Sheikh Mansour, the Premier League club’s wealthy owner, spend more than 100 million pounds on the north-west English side.

Former Chelsea boss Mourinho, who joined Madrid after leading Inter Milan to a domestic and European treble last season, said even a club the size of Real could not compete with City’s cheque book.

“I understand that if someone wants to compete with them for a player it is very difficult, they are dominant in the market,” Mourinho told Sky Sports.

“The player they say they want is the player they get,” the Portuguese added. I was interested in Kolarov when I came here but I couldn’t compete with them as they went to values that I couldn’t.

“If they have the money they can do it, if they have the ambition to win the Premier League they can do it.”

Mourinho also ruled out the possibility of Real signing either Chelsea striker Didier Drogba or City’s Emmanuel Adebayor.

Asked about luring Adebayor to the Bernabeu, he said: “I think no chance.

“The historical dimension of Real Madrid and Manchester City you can’t compare. But the economical dimension you can compare.

“And maybe they will win (the Premier League).

“So I think at the minute Man City is the club to keep their best players and to buy the players that nobody expects them to buy.

“I don’t think, just one year after buying Emmanuel from Arsenal, he’s the player to leave.”

As for Drogba rejoining his former boss, Mourinho said: “Again, no chance.”

Mourinho believes this season’s Premier League title race is between City, Manchester United and defending champions Chelsea.

“I believe Chelsea, Man United and Man City, that’s it,” he said, making it clear Liverpool were out of title contention.

“It’s very difficult for (new Liverpool manager) Roy Hodgson as over the last three years they have been getting worse, worse and worse.

“He needs time.”

Man City bossing transfer market: Mourinho (AFP) | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

The state started the year with $1.3 billion in the bank and still had $830 million left in reserves as of June 30, state auditor Tim Berry said Friday after closing the books on the 2010 fiscal year.

But Berry had a message for lawmakers who will meet in January to work on a new two-year state budget: “Don’t get giddy.”

The current budget calls for $300 million of reserves to be spent in the 2011 fiscal year, which began July 1. So the state is really starting the 2011 fiscal year with a $530 million cushion.

Berry predicts that state reserves will dwindle to $188 million by the end of June 2011 — less than 2 percent of the state’s $12.9 billion budget for that year. And if economic growth is slower than the 5 percent gain expected in fiscal year 2011, it could bring the reserves to near zero.

Five percent growth from 2010 to 2011 seems optimistic, said John Ketzenberger, president of the Indiana Fiscal Policy Institute. Numbers released in fiscal reports Friday show that 2010 revenue fell more than 5 percent below 2009 numbers.

The administration of Republican Gov. Mitch Daniels says tax increases aren’t an option — even if revenues fall short of budgets again in the 2011 fiscal year. That could mean spending all of Indiana’s reserves and making more severe cuts.

“Staying in the black when most states are broke and cutting taxes while they are raising them is the best way to help Hoosier families through this recession and out-compete other states for the new jobs we need,” Daniels said in a statement. “Thanks to our agency heads and state employees who are helping us find new ways to stretch tax dollars and do more with less every day.”

During fiscal year 2010, Daniels ordered state agencies to spend 10 percent less than budgeted, and schools were cut $150 million. Those measures — along with using some previously dedicated funds to help prop up the state’s general fund — helped the state spend $784 million less than budgeted.

Berry said a disproportional amount of cuts came from state agencies compared to schools and higher education. Public schools get about 55 percent of the state’s money, but made up 21 percent of spending reductions. State agencies get about a third of the state budget and accounted for 61 percent of cuts.

Daniels has ordered state agency spending in fiscal year 2011 to drop 15 percent below budgeted numbers. Schools will be cut another $150 million and could face more cuts on top of that, although officials haven’t decided yet whether more reductions need to be made.

Democrats noted that the state stayed afloat in part by using money from the federal stimulus program passed in 2009. The budget includes more than $500 million for Medicaid and about $600 million for basic school spending.

“Since the report issued today failed to do so, I want to make sure that the people of Indiana realize that this budget survives thanks to support from the federal stimulus package that has often been attacked by the governor and his administration,” said House Speaker Patrick Bauer, D-South Bend.

Democrats also said they wanted more information on exactly what was cut in 2010. Information posted on the state’s website shows how much individual agencies spent, but doesn’t detail how the reductions were made.

___

Online:

http://www.in.gov/sba/2550.htm

Ind. spends savings, cuts budgets to balance books | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

WASHINGTON – A tepid gain in consumer spending last month could fuel a debate over whether the United States and other governments should further stimulate their economies to sustain the recovery.

A report that Americans spent cautiously in May came after world leaders meeting in Toronto over the weekend pledged to reduce government deficits by cutting spending and raising taxes. They did so despite warnings from President Barack Obama that scaling back spending too fast could derail the global recovery.

U.S. lawmakers are wary of approving more stimulus spending in light of record-high budget deficits. As a result, millions of Americans could lose unemployment benefits and states could be forced to lay off tens of thousands of workers.

“In our view, it is way too early to apply the fiscal brakes,” said Zach Pandl, an economist at Nomura Securities. Cutting off unemployment benefits “is a dangerous way to cut deficits when the economy is still fragile.”

Economic growth, which leads to higher tax receipts and less spending on social programs, is the best way to reduce the deficit, Pandl said.

Other economists note that wages and salaries rose 0.5 percent in May, a second consecutive month of strong gains. That is a sign that the recovery can survive without government propping it up.

If the trend in income growth continues, “consumers’ spending power will be bolstered, which will in turn drive economic growth, necessitating less government support,” said Dan Greenhaus, chief economic strategist at Miller Tabak.

One thing is certain: Americans are being careful with their money. Consumer spending rose 0.2 percent last month after no change in April, the Commerce Department said Monday.

Consumer spending accounts for about 70 percent of economic activity. But the consumer hasn’t been driving this recovery. Instead, it has depended more on business and government spending, along with exports. In the four quarters following the steep 1981-82 downturn, consumer spending rose by an average of 6.5 percent per quarter. By contrast, even as the economy has grown for the past three quarters, consumer spending rose an average of only 2.5 percent per quarter.

If consumption remains sluggish, the economy may not grow fast enough to generate jobs and quickly bring down the 9.7 percent unemployment rate. Some economists are concerned the economy could slow later this year if government cuts back on stimulus spending.

Pandl said Nomura is lowering its forecast for third-quarter economic growth to 2.2 percent from 2.6 percent based on the assumption that Congress will not extend federal unemployment benefits.

Up until last month, jobless workers who exhausted their 26 weeks of state benefits had been able to qualify for up 73 weeks of additional federal benefits. But Senate Republicans have blocked an extension, citing concerns over the deficit as their main reason. That means about 2 million out-of-work Americans could lose their benefits by the middle of July, the Labor Department estimates.

The Senate has also balked at providing stimulus money to cash-strapped state governments. Thirty states had been counting on federal support to help balance their budgets. Without the money, governors warn they’ll have to lay off tens of thousands of workers.

The debate over how big a role governments should play featured prominently at the G-20 summit. World leaders agreed to cut deficits in richer countries in half by 2013, although they gave themselves some wiggle room to meet that goal.

Obama, who has been pushing for an extension of unemployment benefits in the U.S., said countries had to proceed at their own pace in either emphasizing growth or cutting deficits.

“We can’t all rush to the exits at the same time,” Obama said.

Income is rising as employers slowly add jobs. That could make up for lost unemployment insurance and other benefits.

Personal incomes rose for the sixth time in seven months, boosting household finances. The savings rate, or the percentage of income that wasn’t spent, bumped up to 4 percent. Paychecks gained from recent increases in the average work week, as well as temporary census hiring.

“This supports our view that a rebound in labor income growth will support consumer spending” even as government payments fade, said Peter Newland, an economist at Barclays Capital.

Americans spent more on services in May, likely the result of greater use of electricity as the weather warmed up. Money spent on goods actually declined.

Many economists expect consumer spending to grow by about 3 percent in the current quarter, the same as the first quarter. The government said Friday that the nation’s gross domestic product, the broadest measure of economic output, rose 2.7 percent in the January-to-March period, slower than previously estimated.

Employers added 431,000 jobs in May, but the vast majority were temporary census positions. Private employers added only 41,000 jobs. About 250,000 of census jobs are expected to end this month.

Cautious consumers may fuel debate over deficits (AP) | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

NEW YORK – Stocks rose Monday after cautious consumers bumped up spending last month and the Supreme Court blocked a government effort to get money from tobacco companies.

The Dow Jones industrial average rose about 20 points in afternoon trading. Broader indexes also advanced. Treasury prices rose, sending interest rates lower, as overall concerns remained about the economy.

The government said consumer spending rose 0.2 percent last month, just above the 0.1 percent growth forecast by economists polled by Thomson CHICAGOPRESSRELEASE.COM. Personal income rose 0.4 percent. A bigger jump in income than spending means consumers are choosing to save their money. Weak spending could hamper growth because consumer spending is the biggest driver of the economy.

Jim Swanson, chief investment strategist at MFS Investment Management in Boston, said the latest numbers on personal spending indicate that the recovery is proceeding but that government policymakers need to be careful about cutting back too quickly on the stimulus programs created after the 2008 financial crisis.

“Now is the time you keep spending because you don’t want to suddenly withdraw the caffeine that’s in the system,” Swanson said.

The tepid recovery has led some leaders around the world to push for new spending to bolster growth. But more government spending would make it difficult to control deficits and could drive up borrowing costs if investors worrying about defaults demand higher interest rates.

The G20, a group of rich and developing nations including the U.S., agreed over the weekend that industrialized nations would halve deficits by 2013. But they didn’t resolve differences between those seeking more spending and those looking for cost cuts. Leaders said, however, that they wouldn’t pull government support too quickly. There are concerns that the sudden drop in demand could short circuit a global rebound.

Some European nations have been pushing for steep spending cuts to avoid problems such as those encountered by Greece. The country required a European Union-led bailout to avoid defaulting on its debt. Concerns that debt problems would spread beyond Europe and hurt a recovery have hurt stocks since late April and pounded the euro, the currency used by 16 European countries.

Meanwhile, tobacco stocks rose after the Supreme Court said it wouldn’t take up a case between the government and tobacco makers. The decision prevents the government from getting billions of dollars from makers of cigarettes for anti-smoking campaigns. Reynolds American Inc. rose 5 percent, while Altria Group Inc., parent of Philip Morris USA, rose 3.6 percent.

A separate decision from the court signaled that gun control laws in Chicago and a nearby suburb likely would be struck down by a lower court. That gave a boost to shares of gun makers. Smith & Wesson rose 3.7 percent, while Sturm, Ruger & Co. climbed 1 percent.

In midafternoon trading, the Dow rose 20.33, or 0.2 percent, to 10,164.14. The broader Standard & Poor’s 500 index rose 1.37, or 0.1 percent, to 1,078.13. The Nasdaq composite index rose 4.76, or 0.2 percent, to 2,228.24.

Treasury prices rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.04 percent from 3.11 percent late Friday. Treasurys often rise when investors are uncertain about the strength of the economy because they are stable investments that produce modest gains.

The euro fell to $1.2277.

Crude oil fell 75 cents to $78.11 per barrel on the New York Mercantile Exchange. A tropical storm in the Gulf of Mexico isn’t expected to hit the oil spill.

Reynolds American rose $2.58, or 5 percent, to $53.95, and Altria rose 71 cents, or 3.6 percent, to $20.41.

Smith & Wesson rose 15 cents, or 3.7 percent, to $4.25, while Sturm, Ruger & Co. climbed 15 cents, or 1 percent, to $15.21.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 514 million shares compared with 634 million shares traded at the same point Friday. Volume is expected to remain weak in the coming days ahead of the July 4 holiday.

Britain’s FTSE 100 rose 0.5 percent, Germany’s DAX index gained 1.4 percent, and France’s CAC-40 rose 1.6 percent. Japan’s Nikkei stock average fell 0.5 percent.

Stocks edge higher after consumers spend more (AP) | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

No more. The council shut down the program Thursday because of a budget crisis created by the state of Illinois’ failure to pay its bills.

Paralyzed by the worst deficit in its history, the state has fallen months behind in paying what it owes to businesses and organizations, pushing some of them to the edge of bankruptcy.

Illinois isn’t bothering with the formality of issuing IOUs, as California did last year. It simply doesn’t pay.

Plenty of states face major deficits as the recession continues. They’re cutting services or raising taxes or expanding gambling to close the gap. But Illinois is taking the extra step of ignoring bills.

Right now, $4.4 billion worth of bills, some dating back to October, are sitting in the Illinois comptroller’s office waiting to be paid someday.

Shawnee Development, for instance, is waiting on about $380,000 in back payments, officials say. That amounts to one-quarter of the council’s budget for senior care in seven southern counties. “It makes me mad as heck,” said Georgia Smith, a 66-year-old volunteer at the agency. Seniors, she said, “are used to paying our bills, paying our way.”

Illinois’ deadbeat reputation has created some embarrassing situations.

A supplier refused to sell bullets to the Department of Corrections unless it got paid in advance. Legislators have gotten eviction notices for their district offices because the state wasn’t paying rent. One legislator said he had to use campaign funds to pay the telephone bill after service was cut off at his office.

The practice of simply putting off payments became commonplace under ex-Gov. Rod Blagojevich, who liked to spend but adamantly opposed a tax increase to help cover costs. Before he was arrested and kicked out of office, Blagojevich’s toxic relationship with legislators essentially paralyzed government, so bills just piled up.

The strategy also may have been helped along by Illinois’ “anything goes” political culture. When voters believe government decisions hinge on campaign contributions and shady deals, they’re less likely to expect responsible fiscal practices.

Some schools have tried to shame Illinois into paying by posting signs announcing how much the state owes. The website IllinoisIsBroke.com details the state’s financial mess. Associations hold rallies and write letters to the editor.

The state still remains months behind.

Illinois is on track to end the current fiscal year with about $6 billion in unpaid bills. Budget proposals for the coming year — when the state faces a $13 billion deficit — assume the same thing will happen again.

The state owes money for all kinds of services provided in its name, such as medical care for the needy, home care for the elderly and disabled and day care for the working poor.

State government promises to reimburse all those organizations for at least part of their costs. When the state doesn’t pay its bills, they’re stuck trying to figure out how to make ends meet.

Most have spent their reserves and cut corners wherever they can, laying off employees, cutting back hours, requiring workers to take furloughs.

Recovery Resources, a substance-abuse treatment center in Quincy, is waiting for $200,000 from the state, which provides about two-thirds of the center’s annual budget.

The center has cut 10 jobs over the past two years, said executive director Ron Howell. It shut down its services for adolescent addicts. People who call for help now wait three to four weeks for an appointment.

“The situation, for us, has been almost normalized, and that’s the scary part,” Howell said. “If I’m not screaming on the edge of self-destruction, it’s because this has numbed us.”

Many agencies have borrowed money to keep the doors open, but service providers say that’s getting harder to do — banks are more reluctant to lend money on a promise that the state will pay up someday.

“We have had members whose banks have told them it is the creditworthiness of the state of Illinois that is their primary concern,” said Janet Stover, executive director of the Illinois Association of Rehabilitation Facilities.

State leaders have no plan to catch up on the bills anytime soon, not with a $13 billion deficit to tackle. The Pew Center on the States said last year that in percentage terms, Illinois’ deficit is nearly as big as the gap in California, the gold standard for states in crisis.

Democratic Gov. Pat Quinn has called for an income tax increase, but any money from that would be allocated to other areas, not paying routine bills. Republicans want to tackle the deficit through spending cuts, which would also mean letting old bills go unpaid.

It’s likely that no dramatic movement in either direction will take place until after the November elections.

Illinois government owes about $2.5 million to Sparc, a Springfield organization for people with developmental disabilities, said chief executive officer Carlissa Puckett.

Sparc has borrowed up to $1.1 million through a line of credit. Turning away clients would be the last resort, she said.

Puckett sounds matter-of-fact as she discusses scrimping on paper and pencils. “Why cry if nobody is going to listen to you?” Puckett said. “We’re going to keep our head up and figure out how to make it work.”

No IOUs from Ill. government, but no money either | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

NEW YORK (AP) – A monthly poll showed consumers’ confidence took a surprisingly sharp fall in February amid rising job worries. The decline ends three straight months of improvement and raises concerns about the economic recovery.

The Conference Board said Tuesday its Consumer Confidence Index fell almost 11 points to 46 in February, down from a revised 56.5 in January. Analysts were expecting only a slight decrease to 55.

The increasing pessimism is a big blow to hopes that consumer spending will power an economic recovery. Economists watch the confidence numbers closely because consumer spending accounts for about 70 percent of U.S. economic activity.

The February reading is a long way from what’s considered healthy: A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.

The news sent stocks lower, overshadowing retailer reports that showed stronger holiday profits. The Dow Jones industrial average falling 74.29 points to 10,309.09 by midmorning.

One gauge, measuring consumers’ assessment of current conditions, dropped to 19.4 from 25.2, the lowest level since 1983. The other barometer, which measures their outlook over the next six months and had been rising since October 2009, fell to 63.8 from 77.3.

The overall Consumer Confidence Index hit a historic low of 25.3 in February 2009 but then enjoyed a three-month climb to 54.8 in May, fueled by signs the economy might be stabilizing. Since then, it has been mired in a narrow range, dropping as low as 47, as rising unemployment took a toll, before climbing again for a three-month stretch.

February’s reading is well below the 61.4 figure in September 2008, when the financial crisis intensified with the collapse of Lehman Brothers. The index has had an average reading of 95.6 since the Conference Board starting tracking the figures in 1967.

“The combination of earnings and job anxieties is likely to continue to curb spending,” Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement.

The downbeat report on confidence was released amid encouraging news about the housing market. According to a key housing index, also released Tuesday, home prices rose for the seventh straight month in December, a sign of price stability as the U.S. housing market continues its bumpy road to recovery.

The Standard & Poor’s/Case-Shiller 20-city home price index rose 0.3 percent from November to December, to a seasonally adjusted reading of 145.87. The index was off 3.1 percent from December last year, nearly matching analysts’ estimates that it would fall by 3.2 percent.

But a solid job market is critical to consumers’ boosting their spending and the overall of health of the economy.

The overall economy expanded at an annual rate of 5.7 percent in the fourth quarter, but only about one-fourth of that growth came from consumers. That marked the second quarterly increase in a row after four quarter of decreases. But continued high unemployment could lead consumers to further cut their spending, and that could dampen economic growth.

Many economists expect new jobs to be created in coming months. Unemployment fell to 9.7 percent in January from 10 percent in December, and employers shed 20,000 jobs. But they still worry that joblessness will climb back up by next summer as unemployed people who abandoned job searches start trying again.

The results, based on a sample of 5,000 U.S. households with cutoff date was Feb. 17, showed consumers’ assessment of current job opportunities and job prospects over the next six months eroded.

Those saying that jobs are “hard to get” rose to 47.7 percent from 46.5 percent, while those saying jobs are “plentiful” decreased to 3.6 percent from 4.4 percent.

As for the outlook for the job market, the share of consumers expecting fewer jobs increased to 24.6 percent from 18.9 percent. Those anticipating more jobs will become available in the months ahead declined to 13.4 percent from 15.8 percent. The proportion of consumers expecting an increase in their incomes dropped to 9.5 percent from 11.0 percent.

Traditionally, jobs don’t improve a recovery in consumer spending and confidence. But Gary Thayer, chief economist at Wells Fargo Advisors, believes that this time around, big improvements in jobs, confidence and spending will be “marching together.”

“I think shoppers are going to wait until things get better,” he said.

Consumer confidence falls sharply in February | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

The National Foundation for Credit Counseling survey reports many Americans are choosing to pay down debt and pad their savings account ahead of spending money on gifts this year.

These findings are supported by the results of a national Apartments.com survey revealing renters feel uneasy about the current economy and are approaching this holiday season more cautiously, choosing to save money by cutting back on holiday expenses and spending what they have set aside wisely.

The majority of renters surveyed said they are trimming back holiday budgets more this season compared to last. In fact, 65 percent of respondents said they are spending less on gifts, travel and entertainment this year than 2008 and 70 percent said they are keeping these holiday expenses under $500.

More than 15 percent said they do not plan to celebrate the holidays at all. While nearly 30 percent of renters said they are pinching their pennies due to the loss of a job or taking a pay cut at work, 44 percent are being careful to save money in response to an uncertain economy.

Even during challenging times, renters are doing their best to make the most of their holiday celebrations by keeping costs low. To ensure they snag the best deal for their holiday dollar, renters are giving less and taking more time to research deals and consumer product reviews for gifts online.

The top five holiday cost-savers ranked by renter survey respondents are:

1. Cutting back on gifts or not exchanging at all (73%)
2. Shopping online early to compare prices and research customer reviews (28%)
3. Taking advantage of online promotions, coupons and free shipping (27%)
4. Cancelling or cutting back on holiday travel or changing plans to a later date (16%)
5. Emailing digital holiday cards (16%)

In addition to shopping smarter, most renters are being careful to only spend what they have. More than 70 percent of renters surveyed said they are choosing to pay for their holiday purchases through their checking and debit accounts or with cash.

Despite their best intentions to cut costs during the holidays, nearly half of renter respondents said they do not believe they are getting more for their money this year compared to last.

For cost-savvy renters looking for additional ways to give more with less this holiday season, Apartments.com provides the following gift-giving tips.

• Cut costs by getting online. To stretch holiday budgets further, begin shopping for gifts online. For the best deals, shop and compare prices on multiple retail Web sites, take advantage of online promotions and read consumer reviews. Also, shipping may be free when a specified price limit is met.
• Set a gift-giving budget. When times are hard, it’s best to discuss the option of a gift-giving budget with loved ones to cut back on costs. Be careful not to exceed the limit! While it might seem like a generous act in the moment, going overboard with a gift that costs more than the agreed amount will only embarrass the recipient and anyone else who participated in the exchange.
• Save bank by giving from the heart. It’s true that “it’s the thought that counts.” Think of ways to make meaningful and memorable gifts instead of spending the most money. Try selecting, or making, gifts that involve special memories.
• Holiday paper is so passe. Wrapping paper is old news. Be creative and make gifts that pop, while saving money, by using kids’ artwork, old maps, travel brochures, comics, newspapers or old pieces of fabric. Instead of buying gift tag, use last year’s holiday cards.

For more money-saving tips this holiday season, visit the Apartment Living section of Apartments.com and read Holiday Gift Guide – Tricky Situations Made Simple (living.apartments.com/money/holiday-gift-giving-tricky-situations-made-simple).

As part of its monthly “What Renters Want” research series, Apartments.com surveys renters on various topics.

For more information on these surveys or to receive a copy of additional survey results, please contact Tammy Kotula at tkotula@apartments.com.

About Apartments.com

Apartments.com (apartments.com) is the most visited national apartment Internet listing subscription service with more than 50,000 unique addresses representing more than three million rental units from managed properties, newspaper classifieds and for-rent-by-owner properties.

With personalized searches, highly visual ads featuring “Walk Through Video,” “Apartments.com Anywhere” mobile solutions, 360-degree virtual tours, professional photography, and comprehensive community listings, Apartments.com makes it possible for renters to access apartment rental inventory from across town or across the country.

Leads from highly qualified ready-to-rent prospects are delivered to Apartments.com customers, increasing closure rates and decreasing the average cost of leasing an apartment. The Web site’s foundation of solid partnerships with the local newspaper and television station Web sites of more than 1,000 newspaper affiliate and strategic partners across the country include Yahoo! Real Estate, AOL Real Estate, Univision, the Chicago Tribune, The Washington Post and the Los Angeles Times.

Apartments.com is a division of Chicago-based Classified Ventures, LLC. Additionally, Apartments.com owns and operates Apartment Home Living (apartmenthomeliving.com), a leading social media apartment Web site distinguished by a “live for fun” community experience, proprietary lifestyle matching and local living guides to help renters find their perfect place to live.

Apartments.com National Survey Reveals Renters are Ringing in the Holidays by Spending Less Than Last Year | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.