2008

Randy Newman: A Few Words in Defense of Our Country

CBS Evening News produced this excellent new segment video entitled Payday Advance Loans Seem Simple, But Can Lead To Endless Cycle Of Debt

"In the current state of the economy, about 2,600 Americans a day file for bankruptcy. Others are turning to a financial quick fix called "payday loans."

They've now grown into a $59 billion industry.

Everybody wants to help our Iraq War veterans, and that's the problem. Is the right kind of help behind Door No. 1, Door No. 2, or Door No. 3? Or maybe 4 or 5?

Make plans now to attend UAPA's 4th annual family picnic on Sunday, June 22 from 2:00 p.m. to 5:00 p.m. Be prepared for an afternoon of live entertainment, popular picnic food (including vegetarian options), children's activities and good conversation!

Sign up for the picnic!

Upper Arlington Progressive Action is proud to announce that noted political author David Sirota will speak at the 4th Annual UAPA Picnic in the Park on Sunday, June 22, at 2:00 p.m. Sirota’s new book, THE UPRISING: An Unauthorized Tour of the Populist Revolt Scaring Wall Street and Washington (Crown Publishing Group) will be released on May 28, 2008. The book includes a chapter on Sen. Sherrod Brown (D-OH) and his efforts to shape the populist movement in Washington.

Sign up for the picnic!

THE UPRISING, which follows Sirota’s New York Times bestseller Hostile Takeover (2006), reports on today’s seething popular discontent on both the Right and Left, which is creating a new populist political movement roiling the 2008 presidential campaign and national politics. From behind-the-scenes negotiations on Capitol Hill to an ExxonMobil stockholder meeting and the campsite of the Minutemen guarding the U.S.-Mexico border, Sirota traveled the United States to report on this anger and the populist uprising it is creating.

The book traces the roots of populism, as well as the efforts to thwart populism, including the Democratic Party’s “superdelegate” system. THE UPRISING features exclusive reporting on icons across the political spectrum, from CNN’s Lou Dobbs, to Montana Gov. Brian Schweitzer, to ExxonMobil CEO Rex Tillorsen. The book shows why Molly Ivins hailed Sirota as “a new-generation populist who instinctively understands that the only real questions are ‘Who’s getting screwed’ and ‘Who’s doing the screwing?’”

Please join us in welcoming David Sirota to Upper Arlington, and hear how grassroots groups like UAPA will transform this country from the ground up. Sirota will be signing copies of his book, which will be for purchase, following his remarks. Please note that we cannot accept credit cards. For more information on the Picnic in the Park, please see the related article.

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Regency Centers, owners of Kingsdale Shopping Center, have a new proposal for redeveloping the aged mall at the heart of Upper Arlington.

The new plan, submitted to UA City Council in an April 28 letter, does not include a Target store. Instead, according to the May 15, 2008, UA This Week, a new Giant Eagle would be built on Northwest Boulevard.

Regency is offering 5 acres of the site to the city, including the current Giant Eagle building and the former medical office on Zollinger. Company officials suggest the purchase would allow UA to seek its own proposals for office development, a mixed-use called for in the Master Plan.

Sunday, June 22 Fourth Annual UAPA Picnic in the Park, 2:00–5:00 p.m.
Please note new location!
Fancyburg Park, Kioka Road

Friday, July 4 UAPA July 4th Parade Watching, 9:00 a.m.
We’ll gather near the corner of Northwest Boulevard and Brandon Roads. Look for the blue banner -- we’ll have the coffee and doughnuts ready!

Saturday, August 2 UAPA Second Annual Garage Sale
Corner of Ridgecliff and Redding road
Start saving your gently used household items to donate!
More details to follow!

Recently the executive committee of UAPA voted to support the passage of Ohio House Bill 333. It limits the annual interest rate charged on a typical two-week loan (from payday lenders such as Check Into Cash and Always Payday) from the current 391 percent (about $15 per $100 borrowed) to 36 percent. They are called payday loans because that is the interval between paychecks at most employers.

Statewide, the number of payday lendin offices rose nearly 15-fold between 1996 and 2006 to 1,562. That is more than the combined total of restaurants operated by the McDonalds, Burger King, and Wendy's chains in Ohio. The industry has fought hard against a lower interest-rate cap, arguing it would put them all out of business. Industry officials say they offer a valuable service to those who can't get a loan anywhere else and are a better option than late fees or bounced checks.

Opponents say the two-week loans trap too many people in a cycle of debt, where they need a new loan to pay off the previous one.

Steve Stivers, former bank lobbyist, appointed State Senator and candidate for U.S. Representative, 15th District, weighs in with a typical Republican response by saying setting caps that low would be an overreaction to the issue and shut off credit to those who need it. "Most of these people are in the payday lending marketplace because their credit is not very good," he said. "Those people are not going to get the best interest rate." He has also said, "You can't take away people's ability to screw up their own financial situation by taking away the legal loan products, because they'll move to the illegal loans."

Ohio Attorney General Mark Dann is conducting a public hearing on the issue on Wednesday, April 9, 4:00 p.m., at Good Shepard Baptist Chrch, 1555 E. Hudson. For more information, contact Cathy Johnston at 280-1984 or cathyjohnston@cohhio.org.

The Ohio Coalition for Responsible Lending has set up a web site chock full of great information.