KSFR: New Mexico's unemployment fund could go bust (2010-01-25)

-- Jan. 25, 3 p.m. -- The unemployment bank accounts of some states are already empty. That could happen to New Mexico by next year, unless there's an infusion of new funds. State officials have been asking lawmakers to consider a proposal to raise the private-employer unemploment tax by an average of 22 percent. They say that would help, by adding about $20 million to the program.

As lawmakers work to close a $600 million budget deficit, the Albuquerque Chamber of Commerce is asking its members to sign a petition urging legislators to oppose all tax hikes -- including the tax on food. They'd prefer to see state spending trimmed by cuts and consolidation of various departments. The petition also recommends that more emphasis be given to creating jobs as a means of spurring economic growth.

The state senate's judiciary committee is hearing from the State Investment Council about charges that they've been covering up what a whistleblower calls "bribery" and "kickbacks." Former state investment officer Frank Foy told the committee last week he's been frustrated trying to get official records to support a lawsuit he had filed. He charges in court documents that taxpayers were defrauded of some $90 million by two of financial companies and two state officials.

Tomorrow's the day Santa Fe city voters can begin casting absentee ballots for the March 2nd mayoral and city council elections. Voters can vote in person at the city clerk's office if they expect to be out of town on election day. Absentee ballots may also be mailed in. Other than absentee voting, voters who choose to vote early in the election will have their chance beginning on February 10th and ending February 26th. In person early voting will also be at city hall.

-- 7 a.m. -- Customers of Santa Fe-based Charter Bank shouldn't see any changes this morning, even though federal officials seized it over the weekend. Regulators took control of the bank after their examination of its books found its financial situation "unsafe" and "unsound." The FDIC says accounts of borrowers and depositors will remain unchanged. Charter Bank had more debt than assets. It 's the first bank failure in New Mexico in 11 years.

Both houses of New Mexico's legislature reconvene this morning at 11, as they go into the second week of the 30-day session. Some members met in committee meetings at the end of last week, looking for ways to solve New Mexico' financial problems for next year. The state faces a budget shortfall of at least $600 milion.

New Mexico has a new lottery game coming at the end of the month. It's part of a multi-state jackpot game called Mega Millions. It's played in 12 states and some of the biggest cities in the nation. At present, the only multi-state game offered in New Mexico is the 31-state Powerball. Tickets for Mega Millions go on sale Jan. 31st. The drawing will be held Feb. 2nd.

Santa Fe police, armed with video surveillance and witness descriptions, are searching for the man who brazenly stole $300,000 worth of diamond rings off the fingers of the jewelry store owner who was displaying them. It all happened heading into the weekend at a downtown shop off the Plaza. A man came in and said he wanted to see diamond engagement rings. The shop's owner showed him two five-carat yellow diamonds and a three-carat white diamond, worth a combined $290,000. The thief then grabbed them off her hand and fled the scene.

Local environs involved in WWII's Manhattan Project may soon become a new national park. Congress is working with the US Department of Energy to identify sites playing a major role in the top-secret project that saw development of the atom bomb. Associated work places have been identified in Washington state, Tennessee and Ohio. Here in New Mexico, the town of Los Alamos and its national laboratory are likely to be included as the chief area of operations.

Weather for Santa Fe... A new week and yet another winter storm likely to cross our area beginning Wednesday. Tim Shy with the Nat'l Weather Service office in Albuquerque says Santa Fe could get several inches. Meanwhile, look for sunny skies today and Tuesday...highs today in the upper 30s to mid 40s tomorrow.