WASHINGTON, Oct. 2, 2014 /PRNewswire-HISPANIC PR WIRE/ — Thanks to savings derived from a multi-year strategy to reduce administrative and operational overhead costs, the U.S. Department of Commerce's Minority Business Development Agency (MBDA) today announced a supplemental investment of $1.425 million to nine existing MBDA Business Centers. The funds will support the Business Centers in their efforts to better serve minority business communities nationwide.

"At MBDA our goal is to expand the Agency's reach, expertise, and resources to serve as many minority business enterprises through our national network of MBDA Business Centers," said
Alejandra Y. Castillo, MBDA National Director. "These supplemental funds will ensure that we provide greater assistance to minority-owned businesses to support job creation and the continued growth of the U.S. economy."

The funding announced today will go to the following MBDA Business Centers:

• Chicago*, Phoenix, Puerto Rico, San Antonio: To further promote U.S. exports and business linkages in emerging economies.  
• Atlanta, Cleveland, Detroit*, Indianapolis: To implement focused services in support of advanced manufacturing initiatives.
• San Francisco: To establish a Technology Transfer and Innovation specialty center.

* The Chicago and Detroit MBDA Business Centers also received a supplement grant to promote access to capital initiatives for traditional and alternative financing.

MBDA Business Centers provide strategic business consulting services to minority-owned firms to stimulate local economies and contributes to job creation for Americans through business growth. This is accomplished by providing greater access to capital, contracts and international markets.

The Technology Transfer and Innovation specialty center is designed to engage minority-owned firms in tech transfer and "lab-to-market" initiatives. The San Francisco MBDA Business Center's proximity to Silicon Valley, a leading hub for high-tech innovation and development, provides a prime opportunity
to help minority-owned businesses enter into emerging markets.

A complete listing of all MBDA Business Centers, their unique capabilities and contact information can be found at www.mbda.gov.

About the Minority Business Development Agency (MBDA)

MBDA, www.mbda.gov, is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Our programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. Services are provided through a network of MBDA Business Centers. After 45 years of service, MBDA continues to be a dedicated strategic partner to all U.S. minority-owned businesses, committed to providing programs and services that build size, scale and capacity through access to capital, contracts and markets. Follow us on Twitter @usmbda.

Contact: MBDA Public Affairs

Phone: (202) 482-1375

Email: [email protected]

Website: www.mbda.gov

Fax: (202) 482-5117

SAN ANTONIO, Oct. 2, 2014 /PRNewswire-HISPANIC PR WIRE/ — The Law Firms of Chimicles & Tikellis LLP and Harwood Feffer LLP announce that on September 18, 2014, United States District Judge Harry Lee Hudspeth issued an order that granted preliminary approval to a settlement in a class action lawsuit brought by former employees of Cardell Cabinetry, LLC related to the Worker Adjustment and Retraining Notification Act (also known as the “WARN Act”).

The Plaintiff Class consists of the following: all persons: (1) who were employed at Cardell Cabinetry’s Facilities in San Antonio, Texas; (2) who were involuntarily terminated as a result of the September 9, 2013 plant closure, whether on that date or thereafter; and (3) who did not receive 60 days’ advance notice of the mass layoff. A Settlement Fund will be established. After the deduction of court-approved attorneys’ fees, litigation expenses, and service awards to the three named plaintiffs, members of the Settlement Class will be entitled to the remaining proceeds of the Settlement Fund. The amount that each settlement class member will receive will be proportional to his or her wages earned during the 60 days before Cardell closed.

Class Counsel is endeavoring to mail settlement notice and checks to the last known addresses of all Class Members. If you believe you are a member of the Settlement Class, or have any questions about the settlement, please visit the settlement website at www.HefflerClaims.com/cases/car. The court has scheduled a final approval hearing for Wednesday, December 17, 2014 at 12 noon in Courtroom No. 4, Third Floor, U.S. Courthouse, 655 East Cesar Chavez Boulevard, San Antonio, Texas. Class members will not receive their checks until and unless the Court grants final approval to the settlement. The name of the case is Rangel, et al. v. Cardell Cabinetry, LLC, et al. and the docket number is 5:13-cv-00843-HLH. It is pending in the United States District Court for the Western District of Texas.

PITTSBURGH, Oct. 2, 2014 /PRNewswire-HISPANIC PR WIRE/ — An increasing number of U.S. small and mid-sized business owners plan to raise salaries and prices at rates higher than national trends and above the Federal Reserve’s inflation trigger, according to the latest PNC Economic Outlook Survey findings.

The autumn findings of PNC’s biannual survey, which began in 2003, reveal that two out of five (38 percent) business owners expect to increase employee compensation in the next six months, which is the most since 2008. This is a significant spike since spring (32 percent) and one year ago (22 percent). Of those that plan raises, three in five (59 percent) plan wage hikes of three percent or more, which exceeds the recent national wage trend near two percent.

Meanwhile, 38 percent plan to raise selling prices during the next year as they attempt to preserve profit margins and withstand rising supplier costs. Of those that plan hikes, 31 percent will increase prices 1-2 percent, while 40 percent intend to increase by 3-4 percent, in excess of the Fed’s two percent target.

Business owners’ optimism about their own company’s prospects is steady as 85 percent are optimistic, on par with 87 percent in the spring. More than half (52 percent) expect sales to increase during the next six months – and three of four expect growth of three percent or more. Of the 45 percent who expect profits to rise, three in five expect gains of three percent or more.

“Wage growth has been a missing piece of the labor market puzzle to date,” said PNC’s Chief Economist Stuart Hoffman, “With more business owners planning pay raises and higher prices for customers, these findings strongly support our forecast for a faster economic and jobs expansion and also send important signals to Fed policy makers that the economic recovery is speeding up.”

Hiring Plans Steady
The number of businesses that plan to hire is unchanged, but those that will aim to substantially grow their workforce. Twenty percent plan to add full-time employees compared to 22 percent six months ago and up from 16 percent one year ago. Of those hiring, the majority (61 percent) plan to add one to five employees, which according to Hoffman is “sizable, given that three-quarters of these businesses have fewer than 50 full-time employees.”

Of the 78 percent not hiring, over half (52 percent) need sales to increase at least three percent to add more employees. Two in 10 say the U.S. economy’s lack of improvement is a key reason why they have not hired. Other key findings include:

• Weather Woes Linger: Of the 38 percent who say the extreme weather from the first quarter of 2014 had a negative impact on their business, half say their businesses have not yet fully recovered.
• Low Demand for Credit: Just 17 percent will probably or definitely take out a new loan or line of credit in the next six months, up slightly from 15 percent in spring (81 percent probably or definitely will not).
• Healthcare Policy Confusion: Among businesses with at least 50 employees, nearly two-thirds (64 percent) are not entirely sure how the Affordable Care Act applies to their business.
• Technology Spending: 36 percent will increase spending on technology in the next six months, a seven percentage point jump from a year ago – with streamlining or improving operations as the top priority.
• Housing Prices Continue to Rise: Just over half (52 percent) expect home prices in their local markets to rise in the coming year, down from 48 percent in spring and 58 percent one year ago. Only nine percent expect house prices to decline, steady with findings over the past year.

An online media kit containing national and regional survey results is available on PNC’s website at www.pnc.com/pncpresskits.

The PNC Financial Services Group, Inc. (www.pnc.com) is one of the United States’ largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

Methodology
The PNC Economic Outlook survey was conducted between July 24 to Sept. 10, 2014, by telephone within the United States among 1,863 owners or senior decision-makers of small and mid-sized businesses with annual revenues of $100,000 to $250 million. The results given in this release are based on interviews with 503 businesses nationally, while the remaining interviews were conducted among businesses within the states of Alabama, Florida, Georgia, Illinois, Indiana, Michigan, North Carolina, Ohio and Pennsylvania plus Washington, D.C. Sampling error for the national results is +/- 4.4 percent at the 95 percent confidence level. The survey was conducted by Artemis Strategy Group (www.ArtemisSG.com), a communications strategy research firm specializing in brand positioning and policy issues. The firm, headquartered in Washington D.C., provides communications research and consulting to a range of public and private sector clients.

This report has been prepared for general informational purposes only and is not intended as specific advice or recommendations. Information has been gathered from third party sources and has not been independently verified or accepted by The PNC Financial Services Group, Inc. PNC makes no representations or warranties as to the accuracy or completeness of the information, assumptions, analyses or conclusions presented in the report. PNC cannot be held responsible for any errors or misrepresentations contained in the report or in the information gathered from third party sources. Any reliance upon the information provided in the report is solely and exclusively at your own risk.

CONTACT:

Jennifer Altman
(412) 762-8033
[email protected]