Mortgage Fraud
Owners of vacation homes and rental properties are being targeted as victims of identity theft according to a recent report issued by the FBI. Con artists are creating fake identifications of these owners and transferring the empty estates to themselves. With the property under their name, they are able to turnaround and sell the home.
While there are other variations of this type of crime, the FBI reported a 31 percent increase in reports of mortgage fraud during 2007. In addition, Colorado was named as one of the top 10 mortgage fraud states.
The sudden spike is partially being contributed to the weak housing market that gives fraudsters an ideal setting to try different schemes. FBI agents are working with law enforcement and other regulators to control the growing problem, but the BBB recommends taking the following steps to assure you do not become a victim of mortgage fraud:
* Don’t ignore any payment books or information from an unfamiliar mortgage company. Analyze what was sent and be sure to follow up with the sender.
* Periodically check information regarding your property with your county’s deeds office. Check for forged signatures and any activity that might seem suspicious.
For more information relating to mortgage fraud, please visit the FBI Web site at:
http://www.fbi.gov/publications/fraud/mortgage_fraud07.htm
For more information contact Carol Odell, 719-636-5076, ext. 111.
Start With Trust
The official blog of SouthSideBusiness.com
Friday, May 23, 2008
Thursday, May 22, 2008
Kinderdance opens in Security
Horizons Childcare – 330 Main Street – Security, CO
“For young children, movement, music and dance are natural tools for fitness, learning and communicating while expressing their feelings,” says Ardesia Parr , Kinderdance Franchisee for the city of Colorado Springs . “It’s exciting to work with children who learn how to learn while they learn how to dance.”
In recognition of this new location, Kinderdance of the city of Colorado Springs is offering free dance and fitness demonstrations. “I look forward to the opportunity to offer Kinderdance programs to all the area families,” say Parr.
Kinderdance® with 112 Franchisees in 34 states and 6 countries places emphasis on building self-confidence and self-esteem in children through learning to share, lead, interact and respond to others’ needs as well as their own. Children learn through the combination of movement opportunities and sensory experiences.
Kinderdance ® programs incorporate the arts, education, movement, music, fitness, and the fun of learning into a young child’s life.
For more information on Kinderdance of the city of Colorado Springs , please contact Ardesia Parr at 719-404-1839 or kinderdanceco@yahoo.com.
“For young children, movement, music and dance are natural tools for fitness, learning and communicating while expressing their feelings,” says Ardesia Parr , Kinderdance Franchisee for the city of Colorado Springs . “It’s exciting to work with children who learn how to learn while they learn how to dance.”
In recognition of this new location, Kinderdance of the city of Colorado Springs is offering free dance and fitness demonstrations. “I look forward to the opportunity to offer Kinderdance programs to all the area families,” say Parr.
Kinderdance® with 112 Franchisees in 34 states and 6 countries places emphasis on building self-confidence and self-esteem in children through learning to share, lead, interact and respond to others’ needs as well as their own. Children learn through the combination of movement opportunities and sensory experiences.
Kinderdance ® programs incorporate the arts, education, movement, music, fitness, and the fun of learning into a young child’s life.
For more information on Kinderdance of the city of Colorado Springs , please contact Ardesia Parr at 719-404-1839 or kinderdanceco@yahoo.com.
Tuesday, May 6, 2008
Colorado Springs EDC Reports Cautious Optimism
From the EDC's May Executive Update:
EDC has announced 550 jobs, year to date, representing relocations or expansions from the following companies: CodeOne, a medical billing headquarters; TechConFed an aerospace headquarters; Nexgen Pharma, Inc. a pharmaceutical manufacturer; Diversified Machine Systems, Inc. a manufacturer of CNC machines and Sticky Sheets a consumer products headquarters firm. During the month of April, EDC received 13 new prospects in a variety of different industries, equaling our total for March. EDC has 12-15 very solid prospects in the pipeline that could result in more than 2,000 new jobs for our community. The economy is struggling nationally so the competition for projects is fierce, yet we remain cautiously optimistic.
...Colorado Springs and Colorado continue to receive positive national rankings. Colorado Springs was recently ranked 10th Smartest Metro according to a recent study by bizjournals. The study’s objective was to identify those markets with the strongest collective brain power, as indicated by their residents’ educational attainment.
For more information on the Colorado Springs EDC's recruitment activities, click HERE
EDC has announced 550 jobs, year to date, representing relocations or expansions from the following companies: CodeOne, a medical billing headquarters; TechConFed an aerospace headquarters; Nexgen Pharma, Inc. a pharmaceutical manufacturer; Diversified Machine Systems, Inc. a manufacturer of CNC machines and Sticky Sheets a consumer products headquarters firm. During the month of April, EDC received 13 new prospects in a variety of different industries, equaling our total for March. EDC has 12-15 very solid prospects in the pipeline that could result in more than 2,000 new jobs for our community. The economy is struggling nationally so the competition for projects is fierce, yet we remain cautiously optimistic.
...Colorado Springs and Colorado continue to receive positive national rankings. Colorado Springs was recently ranked 10th Smartest Metro according to a recent study by bizjournals. The study’s objective was to identify those markets with the strongest collective brain power, as indicated by their residents’ educational attainment.
For more information on the Colorado Springs EDC's recruitment activities, click HERE
Monday, May 5, 2008
Electro Energy to Present at AeA Micro Cap Financial Conference
(MarketWire) May 05, 2008: 11:45 AM EST
Electro Energy Inc. (NASDAQ: EEEI), a leading provider of advanced battery technologies and associated systems, today announced that Michael E. Reed, President & CEO, will be a featured speaker at the AeA Micro Cap Financial Conference on Tuesday, May 6th, in Monterey, California.
Mr. Reed will highlight EEEI's breakout potential as a domestic producer of advanced battery products. Development contracts with the U.S. Department of Defense and Department of Energy provide significant funding for applications requiring smaller, lighter more powerful batteries. Electro Energy recently received its first order for rechargeable lithium-ion 18650 battery cells produced at its Florida manufacturing facility. The Company anticipates obtaining UL certification which will lead to full commercial market availability and significant revenue growth in 2008.
Mr. Reed's presentation will be webcast on Tuesday, May 6th, at 1:30PM at the following link: http://www.corporate-ir.net/ireye/confLobby.zhtml?ticker=EEEI&item_id=1830380
You can also link directly through the EEI website at http://ir.electroenergyinc.com/events.cfm
About Electro Energy Inc.
Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bipolar wafer cell nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. EEEI is also developing high power lithium rechargeable batteries utilizing the Company's proprietary bipolar wafer cell design. EEEI owns significant manufacturing assets near Gainesville, Fla. for rechargeable lithium ion 18650 cylindrical cells, the standard cell used in the electronics industry. For further information, please visit www.electroenergyinc.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Electro Energy Inc.'s Securities and Exchange Commission filings available at http://www.sec.gov.
Electro Energy Inc. (NASDAQ: EEEI), a leading provider of advanced battery technologies and associated systems, today announced that Michael E. Reed, President & CEO, will be a featured speaker at the AeA Micro Cap Financial Conference on Tuesday, May 6th, in Monterey, California.
Mr. Reed will highlight EEEI's breakout potential as a domestic producer of advanced battery products. Development contracts with the U.S. Department of Defense and Department of Energy provide significant funding for applications requiring smaller, lighter more powerful batteries. Electro Energy recently received its first order for rechargeable lithium-ion 18650 battery cells produced at its Florida manufacturing facility. The Company anticipates obtaining UL certification which will lead to full commercial market availability and significant revenue growth in 2008.
Mr. Reed's presentation will be webcast on Tuesday, May 6th, at 1:30PM at the following link: http://www.corporate-ir.net/ireye/confLobby.zhtml?ticker=EEEI&item_id=1830380
You can also link directly through the EEI website at http://ir.electroenergyinc.com/events.cfm
About Electro Energy Inc.
Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bipolar wafer cell nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. EEEI is also developing high power lithium rechargeable batteries utilizing the Company's proprietary bipolar wafer cell design. EEEI owns significant manufacturing assets near Gainesville, Fla. for rechargeable lithium ion 18650 cylindrical cells, the standard cell used in the electronics industry. For further information, please visit www.electroenergyinc.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Electro Energy Inc.'s Securities and Exchange Commission filings available at http://www.sec.gov.
COPT leases 75,000 sq ft of Development Space in Colorado Springs
Corporate Office Properties Trust Leases 73,000 Square Feet of Development Space in Colorado Springs, Colorado
BUSINESS WIRE)--May 1, 2008--Corporate Office Properties Trust (COPT) (NYSE:OFC) announced today the leasing of 73,000 square feet of new office development in Colorado Springs, Colorado. The first lease with Plasmon LMS, Inc. (LSE:PLM) is in a building located at 9925 Federal Drive, known as InterQuest Hybrid II, within the InterQuest Office Park. The InterQuest Office Park is located along the I-25 northeast submarket of Colorado Springs, Colorado.
Plasmon leased 44,000 square feet of the approximately 54,000 square feet located in InterQuest Hybrid II which has an anticipated completion date of third quarter 2008. Plasmon has a scheduled occupancy date of July 2008.
Plasmon has been the trusted source for professional archive solutions with commercial and public sector organizations worldwide for more than 20 years, seeking better suited smaller space and configuration to align with their OSCA program. Their solutions enable companies to meet regulatory obligations and manage risk associated with record retention, while providing competitive advantage through fast access to archived data.
ITT Corporation, Systems Division (NYSE:ITT) expanded its lease to occupy the entire building located at 655 Space Center Drive, known as Patriot Park VI, within Patriot Park in Colorado Springs, Colorado. Patriot Park is located at the intersection of two major thoroughfares, Powers Boulevard and Highway 24, and is adjacent to Peterson Air Force Base.
ITT previously leased 75,000 square feet of the approximately 104,000 square foot building in December 2007 and will now take occupancy of the entire Patriot Park VI building. ITT will take full occupancy by June 2008.
ITT Systems Division, based in Colorado Springs, CO., is a world leader in systems support and technical solutions for today's military and government partners.
"The leasing of this new development space is a testament to the current demand for new construction existing in Colorado Springs," stated Randall M. Griffin, President and Chief Executive Officer for Corporate Office Properties Trust. "We are extremely pleased to announce that Patriot Park VI is fully leased and that Hybrid II is almost fully leased, improving our already strong leasing percentage in Colorado Springs," he added.
Company Information
Corporate Office Properties Trust (COPT) (NYSE:OFC) is a specialty office real estate investment trust (REIT) that focuses on strategic customer relationships and specialized tenant requirements in the U.S. Government, Defense Information Technology and Data sectors. The Company acquires and develops properties which are typically concentrated in large office parks primarily located adjacent to government demand drivers and/or in growth corridors. As of December 31, 2007, the Company owned 246 office and data properties totaling 18.6 million rentable square feet, which includes 18 properties totaling 806,000 square feet held through joint ventures. The Company's portfolio primarily consists of technically sophisticated buildings in visually appealing settings that are environmentally sensitive, sustainable and meet unique customer requirements. More information on COPT can be found at www.copt.com.
Forward-Looking Information
This press release may contain "forward-looking" statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company's current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "estimate" or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Accordingly, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements.
Important factors that may affect these expectations, estimates, and projections include, but are not limited to:
the Company's ability to borrow on favorable terms;
general economic and business conditions, which will, among other things, affect office property demand and rents, tenant creditworthiness, interest rates and financing availability;
adverse changes in the real estate markets including, among other things, increased competition with other companies;
risk of real estate acquisition and development, including, among other things, risks that development projects may not be completed on schedule, that tenants may not take occupancy or pay rent or that development or operating costs may be greater than anticipated; -
risks of investing through joint venture structures, including risks that the Company's joint venture partners may not fulfill their financial obligations as investors or may take actions that are inconsistent with the Company's objectives;
our ability to satisfy and operate effectively under federal income tax rules relating to real estate investment trusts and partnerships;
governmental actions and initiatives; and
environmental requirements.
The Company undertakes no obligation to update or supplement any forward-looking statements. For further information, please refer to the Company's filings with the Securities and Exchange Commission, particularly the section entitled "Risk Factors" in Item 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2007.
BUSINESS WIRE)--May 1, 2008--Corporate Office Properties Trust (COPT) (NYSE:OFC) announced today the leasing of 73,000 square feet of new office development in Colorado Springs, Colorado. The first lease with Plasmon LMS, Inc. (LSE:PLM) is in a building located at 9925 Federal Drive, known as InterQuest Hybrid II, within the InterQuest Office Park. The InterQuest Office Park is located along the I-25 northeast submarket of Colorado Springs, Colorado.
Plasmon leased 44,000 square feet of the approximately 54,000 square feet located in InterQuest Hybrid II which has an anticipated completion date of third quarter 2008. Plasmon has a scheduled occupancy date of July 2008.
Plasmon has been the trusted source for professional archive solutions with commercial and public sector organizations worldwide for more than 20 years, seeking better suited smaller space and configuration to align with their OSCA program. Their solutions enable companies to meet regulatory obligations and manage risk associated with record retention, while providing competitive advantage through fast access to archived data.
ITT Corporation, Systems Division (NYSE:ITT) expanded its lease to occupy the entire building located at 655 Space Center Drive, known as Patriot Park VI, within Patriot Park in Colorado Springs, Colorado. Patriot Park is located at the intersection of two major thoroughfares, Powers Boulevard and Highway 24, and is adjacent to Peterson Air Force Base.
ITT previously leased 75,000 square feet of the approximately 104,000 square foot building in December 2007 and will now take occupancy of the entire Patriot Park VI building. ITT will take full occupancy by June 2008.
ITT Systems Division, based in Colorado Springs, CO., is a world leader in systems support and technical solutions for today's military and government partners.
"The leasing of this new development space is a testament to the current demand for new construction existing in Colorado Springs," stated Randall M. Griffin, President and Chief Executive Officer for Corporate Office Properties Trust. "We are extremely pleased to announce that Patriot Park VI is fully leased and that Hybrid II is almost fully leased, improving our already strong leasing percentage in Colorado Springs," he added.
Company Information
Corporate Office Properties Trust (COPT) (NYSE:OFC) is a specialty office real estate investment trust (REIT) that focuses on strategic customer relationships and specialized tenant requirements in the U.S. Government, Defense Information Technology and Data sectors. The Company acquires and develops properties which are typically concentrated in large office parks primarily located adjacent to government demand drivers and/or in growth corridors. As of December 31, 2007, the Company owned 246 office and data properties totaling 18.6 million rentable square feet, which includes 18 properties totaling 806,000 square feet held through joint ventures. The Company's portfolio primarily consists of technically sophisticated buildings in visually appealing settings that are environmentally sensitive, sustainable and meet unique customer requirements. More information on COPT can be found at www.copt.com.
Forward-Looking Information
This press release may contain "forward-looking" statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company's current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "estimate" or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Accordingly, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements.
Important factors that may affect these expectations, estimates, and projections include, but are not limited to:
the Company's ability to borrow on favorable terms;
general economic and business conditions, which will, among other things, affect office property demand and rents, tenant creditworthiness, interest rates and financing availability;
adverse changes in the real estate markets including, among other things, increased competition with other companies;
risk of real estate acquisition and development, including, among other things, risks that development projects may not be completed on schedule, that tenants may not take occupancy or pay rent or that development or operating costs may be greater than anticipated; -
risks of investing through joint venture structures, including risks that the Company's joint venture partners may not fulfill their financial obligations as investors or may take actions that are inconsistent with the Company's objectives;
our ability to satisfy and operate effectively under federal income tax rules relating to real estate investment trusts and partnerships;
governmental actions and initiatives; and
environmental requirements.
The Company undertakes no obligation to update or supplement any forward-looking statements. For further information, please refer to the Company's filings with the Securities and Exchange Commission, particularly the section entitled "Risk Factors" in Item 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2007.
Peak Vista Open House - Fountain, Colorado, May 14th
Peak Vista Community Health Centers announces
Family Health Center at Fountain Open House
Colorado Springs, CO, May 5, 2008-Peak Vista Community Health Centers will host an Open House on Wednesday, May14th, at its Family Health Center at Fountain, located behind the Lorraine Center at 301 E. Iowa.
Peak Vista invites the community to tour the facility and enjoy light refreshments from
5:00-7:00 p.m.. Services at the Family Health Center at Fountain include medical, dental and behavioral health for patients of all ages. Peak Vista also has a “Kids Care Walk-In Hour” Monday through Friday from 8:00-9:00 a.m. for minor illnesses.
Peak Vista accepts most private insurances, Medicaid, Medicare and all Medicare supplements. A sliding-fee scale is available for uninsured patients. For more information, please call 322-0777.
About Peak Vista
Peak Vista Community Health Centers is a non-profit organization whose mission is to provide exceptional healthcare for people facing access barriers. Established in 1971, Peak Vista today offers primary medical, dental and behavioral health services to 53,000 residents of the Pikes Peak region. To learn more about Peak Vista, visit www.peakvista.org.
Family Health Center at Fountain Open House
Colorado Springs, CO, May 5, 2008-Peak Vista Community Health Centers will host an Open House on Wednesday, May14th, at its Family Health Center at Fountain, located behind the Lorraine Center at 301 E. Iowa.
Peak Vista invites the community to tour the facility and enjoy light refreshments from
5:00-7:00 p.m.. Services at the Family Health Center at Fountain include medical, dental and behavioral health for patients of all ages. Peak Vista also has a “Kids Care Walk-In Hour” Monday through Friday from 8:00-9:00 a.m. for minor illnesses.
Peak Vista accepts most private insurances, Medicaid, Medicare and all Medicare supplements. A sliding-fee scale is available for uninsured patients. For more information, please call 322-0777.
About Peak Vista
Peak Vista Community Health Centers is a non-profit organization whose mission is to provide exceptional healthcare for people facing access barriers. Established in 1971, Peak Vista today offers primary medical, dental and behavioral health services to 53,000 residents of the Pikes Peak region. To learn more about Peak Vista, visit www.peakvista.org.
CALL FOR VOLUNTEERS - Odyssey Hospice
Can you spare a little time for the terminally ill in the Fountain/Security area? To learn more about sharing your gifts of time and compassion, call Odyssey Hospice at (719) 573-4166. Thank you!
Rebate - Stimulus Check Survey
One in Four U.S. Homeowners Consider Spending Their Tax Rebate Checks on Home Improvement Projects
Most Common Projects Being Considered Include Landscaping, Adding Insulation and Painting a Room
(BUSINESS WIRE)--Resilient American homeowners intend to shake off concerns about the slumping real estate market and plant the money they receive as part of the federal economic stimulus package into what for many is their most important financial asset: their homes.
A national consumer opinion survey released today found that 24 percent of U.S. homeowners are “considering using” the money they will receive as part of the federal economic stimulus package to upgrade or improve their homes. In addition, roughly one in five respondents, or 19 percent, said they would “definitely use” their rebate money for a home improvement project. The survey was conducted in April by Johns Manville (JM), a building and specialty products manufacturer, and Opinion Research Corp., a market research firm.
“The federal government is hoping that Americans will spend these checks and help stimulate the nation’s economy, and this survey confirms that many Americans are prepared to do that, at least when it comes to their homes,” said Wayne Russum, senior vice president of Opinion Research Corp.
Among respondents who said they are not considering using their rebate check for a home improvement, the most common intended uses were saving it (45 percent), paying down debt (40 percent), taking a vacation (14 percent), purchasing a luxury item (9 percent), or something else (5 percent).
The tax rebates were created earlier this year by a Congressional bill aimed at encouraging consumer spending in the face of a slumping economy and a weak housing market. The checks started arriving in taxpayers’ bank accounts on Monday. Single taxpayers with annual adjusted gross income of less than $75,000 qualify, as do joint filers making less than $150,000.
The telephone survey of 751 American homeowners was conducted from April 11–14 by Opinion Research Corp., a national market research firm based in New Jersey, on behalf of Johns Manville, an international building materials manufacturer based in Denver. The survey’s sampling error was plus or minus four percentage points.
The survey found that the most popular projects for respondents considering using their rebate checks for a home improvement project included: household upgrades, including landscaping (23 percent) or an upgrade of the bathroom (13 percent) or kitchen (12 percent); improving their homes’ energy efficiency, including adding attic insulation (9 percent), caulking or sealing (4 percent), or installing energy efficient light bulbs (4 percent); or painting a room (10 percent).
The survey’s other key findings included:
Homeowners between the ages of 25 and 34 were most likely to consider using the rebate checks for a home improvement (33 percent); homeowners older than 65 were least likely (20 percent).
Homeowners in the West were most likely to use their rebate check for a home improvement (27 percent); homeowners in the South were least likely (22 percent).
The most common reasons cited for pursuing a home improvement project with the rebate money were comfort (34 percent), aesthetics (17 percent), environmental impact (15 percent), resale (13 percent), and return on investment (8 percent).
Among all respondents, 31 percent of homeowners said they are planning to start a home improvement project during May, which is National Home Improvement Month.
“Clearly, many homeowners agree that investing in their homes can improve their quality of life and provide a solid return on investment,” said Mark Ziegert, JM’s senior brand manager for building insulation products. “People who use their rebate check to improve their home’s energy efficiency not only enhance the comfort of their home, they will achieve cost saving in both the winter and summer through improved energy efficiency, and they may increase the resale value of the home.”
About Johns Manville
Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, BRK.B), is a leading manufacturer and marketer of premium-quality building and specialty products. In business since 1858, the Denver-based company has annual sales in excess of $2 billion and holds leadership positions in all of the key markets that it serves. Johns Manville employs approximately 7,800 people and operates 41 manufacturing facilities in North America, Europe and China.
About the Survey
The 2008 Rebate Check Spending survey was conducted by Opinion Research Corporation for building products manufacturer Johns Manville. The survey was conducted via telephone April 11–14, 2008, and contacted a total of 751 U.S. adults 18 years of age and older who are homeowners in the continental United States. Results were weighted by age, gender, race and region to ensure a representative sample. Using Opinion Research’s CARAVAN methodology, the data was collected from a national probability telephone sample, a form of random-digit-dialing (RDD). Respondents were asked seven questions regarding their thoughts and planned uses of the federal economic stimulus rebate checks. The margin of error for results based on the total survey is plus or minus four percentage points.
Most Common Projects Being Considered Include Landscaping, Adding Insulation and Painting a Room
(BUSINESS WIRE)--Resilient American homeowners intend to shake off concerns about the slumping real estate market and plant the money they receive as part of the federal economic stimulus package into what for many is their most important financial asset: their homes.
A national consumer opinion survey released today found that 24 percent of U.S. homeowners are “considering using” the money they will receive as part of the federal economic stimulus package to upgrade or improve their homes. In addition, roughly one in five respondents, or 19 percent, said they would “definitely use” their rebate money for a home improvement project. The survey was conducted in April by Johns Manville (JM), a building and specialty products manufacturer, and Opinion Research Corp., a market research firm.
“The federal government is hoping that Americans will spend these checks and help stimulate the nation’s economy, and this survey confirms that many Americans are prepared to do that, at least when it comes to their homes,” said Wayne Russum, senior vice president of Opinion Research Corp.
Among respondents who said they are not considering using their rebate check for a home improvement, the most common intended uses were saving it (45 percent), paying down debt (40 percent), taking a vacation (14 percent), purchasing a luxury item (9 percent), or something else (5 percent).
The tax rebates were created earlier this year by a Congressional bill aimed at encouraging consumer spending in the face of a slumping economy and a weak housing market. The checks started arriving in taxpayers’ bank accounts on Monday. Single taxpayers with annual adjusted gross income of less than $75,000 qualify, as do joint filers making less than $150,000.
The telephone survey of 751 American homeowners was conducted from April 11–14 by Opinion Research Corp., a national market research firm based in New Jersey, on behalf of Johns Manville, an international building materials manufacturer based in Denver. The survey’s sampling error was plus or minus four percentage points.
The survey found that the most popular projects for respondents considering using their rebate checks for a home improvement project included: household upgrades, including landscaping (23 percent) or an upgrade of the bathroom (13 percent) or kitchen (12 percent); improving their homes’ energy efficiency, including adding attic insulation (9 percent), caulking or sealing (4 percent), or installing energy efficient light bulbs (4 percent); or painting a room (10 percent).
The survey’s other key findings included:
Homeowners between the ages of 25 and 34 were most likely to consider using the rebate checks for a home improvement (33 percent); homeowners older than 65 were least likely (20 percent).
Homeowners in the West were most likely to use their rebate check for a home improvement (27 percent); homeowners in the South were least likely (22 percent).
The most common reasons cited for pursuing a home improvement project with the rebate money were comfort (34 percent), aesthetics (17 percent), environmental impact (15 percent), resale (13 percent), and return on investment (8 percent).
Among all respondents, 31 percent of homeowners said they are planning to start a home improvement project during May, which is National Home Improvement Month.
“Clearly, many homeowners agree that investing in their homes can improve their quality of life and provide a solid return on investment,” said Mark Ziegert, JM’s senior brand manager for building insulation products. “People who use their rebate check to improve their home’s energy efficiency not only enhance the comfort of their home, they will achieve cost saving in both the winter and summer through improved energy efficiency, and they may increase the resale value of the home.”
About Johns Manville
Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, BRK.B), is a leading manufacturer and marketer of premium-quality building and specialty products. In business since 1858, the Denver-based company has annual sales in excess of $2 billion and holds leadership positions in all of the key markets that it serves. Johns Manville employs approximately 7,800 people and operates 41 manufacturing facilities in North America, Europe and China.
About the Survey
The 2008 Rebate Check Spending survey was conducted by Opinion Research Corporation for building products manufacturer Johns Manville. The survey was conducted via telephone April 11–14, 2008, and contacted a total of 751 U.S. adults 18 years of age and older who are homeowners in the continental United States. Results were weighted by age, gender, race and region to ensure a representative sample. Using Opinion Research’s CARAVAN methodology, the data was collected from a national probability telephone sample, a form of random-digit-dialing (RDD). Respondents were asked seven questions regarding their thoughts and planned uses of the federal economic stimulus rebate checks. The margin of error for results based on the total survey is plus or minus four percentage points.
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