Virginia's state and local governments need each other's close cooperation to function effectively, but in today's political and economic climate, the relationship has become badly frayed according to Neal Menkes, a longtime state finance expert. The state relies on local governments to deliver core programs such as education, public safety and social services.

Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common-pool resource management programs. These auctions create thick markets that can provide important information about changes in current market conditions.

Bill Shobe's presentation to the April 29th Richmond Association for Business Economics Jobs Summit outlines some of the economic fundamentals that determine what power the governor has to create jobs.  Not surprisingly, it's rarely as simple as the job creation press releases make out.

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