Monday, August 10, 2009

USAID and Chevron Expand Agricultural Program in Angola

USAID and Chevron have signed a Memorandum of Understanding that provides $56 million to the Angola Partnership, which “support[s] education, food security, government capacity building and small business.”  Secretary of State Hillary Clinton was in Angola to witness the signing.  The program is designed to support non-oil businesses, which Chevron believes will increase political and social stability and protect its business in the country.

Cash For Clunkers Hurts Car Donations to Charities

While the Car Allowance Rebate System (CARS) is providing a shot in the arm to the auto industry, it may be hurting charities who raise revenue through donated cars.  The $3,500 to $4,500 rebate provided by the government through the  program is typically greater than the tax deduction received from donating a car to charity.  According to an Associated Press article, the NY based National Kidney Foundation is estimating a 10 to 15 percent drop in revenue due to the CARS program.