caloloary.blogspot.com
Closing the loophole would solver boththe state’s budget problems and loweer the corporate net income tax, Senatse Democrats said. The move to “combined reporting” would requires multistate and multinational firms to combine theie income and expenses for tax and to stop the use of technique s to shift income outside of the state to tax It wouldgenerate $750 milliom over two years, which would be used to ease projected statre budget deficits, Senate Democrats Revenue would also be used to lower the corporatew net income tax from 9.99 the highest flat rate in the to 7.99 percent by 2013-14.
“The best way out of this recessiomn is toprotect jobs, and one way to do that is to creatw a business climate that is fair to smalkl business,” Jay Costa, D-Allegheny, said. “This bill woulxd cut business taxes for those who have paid their fair and require thosethat haven’t to do their part.” David Taylor, executive director of the Pennsylvania Association, said the efforts, if successful, woul d result in a massive tax increase and regulatory nightmarde for the state. “It gives to the statew Department of Revenue the powers of the IRS to try andimposd Pennsylvania’s tax liability on businesses operatinf in other states,” Taylor said.
“Even if your firm is ultimatelyt judged not to owe additional taxes your companh has tremendous outlaysin time, energt and money to hire the lawyers and accountants.” The move by otherf states to combined reportingt triggered lawsuits, making it a choice for the state to rely on to balancw the budget, Taylor said. “Thise is another example of government greec trying to bleed the private Taylor said. “There is no silver bullet, there is no easy way out, the only way Pennsylvaniaw is going to get through this budgeyt crisis without further damaging its competitivenesd is living withinour means.
” Under the Senatee Democrat plan, elimination of the Capital Stock Franchise Tax, due to occure in 2011, would be spread over a three-year periodr — reduced from 1.89 mill to 1.26 mills in fiscal 2011-12, to 0.63 millzs in fiscal 2012-13 and then eliminate the following year. Combined reporting was amonhg the recommendations made by the bipartisahn Pennsylvania Business Tax Reform Commissionin 2004. State Sen. Christinr M. Tartaglione re-introduced legislation again this February to closethe “Delawarew loophole” after not having successful for several yearz in getting it passed.
jueves, 20 de diciembre de 2012
martes, 18 de diciembre de 2012
Bobcats owner to buy distressed assets - Charlotte Business Journal:
batyushkinuxit.blogspot.com
Johnson’s formed a venturde with subsidiary Western Asset Management that has qualified as a fund managef forthe U.S. Treasury Department’s Public-Private Investment Program. RLJ, whic is based in Bethesda, Md., will own 51 percentr of the venture. Legg Mason (NYSE:LM) will own the PPIP is an effort to provide liquidityu to the banking system by encouraging investorss tobuy mortgage-backed securities they With rising default rates on underlying the value of the securitieas has plummeted and a secondary market doesn’t The federal government is earmarking $10 billion to subsidizr the purchases.
Separately, Legg Mason said last month in a filingt with the Securities and Exchange Commissiomn that Western Asset plans to launcha $500 million fund to invesy in “undervalued and distressed assets,” includinbg residential and commercial mortgages, auto loans and credit-card Baltimore-based Legg Mason is an asset-management firm servinvg individual and institutional investors.
Johnson’s formed a venturde with subsidiary Western Asset Management that has qualified as a fund managef forthe U.S. Treasury Department’s Public-Private Investment Program. RLJ, whic is based in Bethesda, Md., will own 51 percentr of the venture. Legg Mason (NYSE:LM) will own the PPIP is an effort to provide liquidityu to the banking system by encouraging investorss tobuy mortgage-backed securities they With rising default rates on underlying the value of the securitieas has plummeted and a secondary market doesn’t The federal government is earmarking $10 billion to subsidizr the purchases.
Separately, Legg Mason said last month in a filingt with the Securities and Exchange Commissiomn that Western Asset plans to launcha $500 million fund to invesy in “undervalued and distressed assets,” includinbg residential and commercial mortgages, auto loans and credit-card Baltimore-based Legg Mason is an asset-management firm servinvg individual and institutional investors.
lunes, 17 de diciembre de 2012
Employers' health care costs expected to rise 9 percent - Sacramento Business Journal:
sucujovide.wordpress.com
The 9 percent projected cost increase is slightly lowetr thanthe 9.2 percent increase in 2009 and 9.9 percent increase in 2008, according to Pricewaterhouse Coopers. Despite the slowdown, medical cost increasese continue to outpace inflation andwage increases. One of the reasonzs medical costs continue to climb is that American workers are accelerating use of healtyh care services in anticipation of losing theirjobs and, potentially, theif health insurance, the report suggests.
Rising unemployment, growin numbers of people with littles or no insurance and a growing percentagw of the population on Medicaidc further ramp up medical cost trends the figures actuaries use to set futurre healthinsurance premiums. Coupled with big declinesd in corporate profits, employers surveyex by Pricewaterhouse Coopers said they will push more of the costzs of health insurance to theidr workersin 2010, while expecting workers to take more responsibilitgy for managing their personal health. The national trendas suggest most employers and employees will pay far more than thosse in the purchasing pool run by the CaliforniaPublid Employees’ Retirement System.
The pensioh fund approved an overall 2.9 percent increase in health care premium for membersin 2010, the lowestt rate hike in 14 years.
The 9 percent projected cost increase is slightly lowetr thanthe 9.2 percent increase in 2009 and 9.9 percent increase in 2008, according to Pricewaterhouse Coopers. Despite the slowdown, medical cost increasese continue to outpace inflation andwage increases. One of the reasonzs medical costs continue to climb is that American workers are accelerating use of healtyh care services in anticipation of losing theirjobs and, potentially, theif health insurance, the report suggests.
Rising unemployment, growin numbers of people with littles or no insurance and a growing percentagw of the population on Medicaidc further ramp up medical cost trends the figures actuaries use to set futurre healthinsurance premiums. Coupled with big declinesd in corporate profits, employers surveyex by Pricewaterhouse Coopers said they will push more of the costzs of health insurance to theidr workersin 2010, while expecting workers to take more responsibilitgy for managing their personal health. The national trendas suggest most employers and employees will pay far more than thosse in the purchasing pool run by the CaliforniaPublid Employees’ Retirement System.
The pensioh fund approved an overall 2.9 percent increase in health care premium for membersin 2010, the lowestt rate hike in 14 years.
domingo, 16 de diciembre de 2012
Businesses navigate new trends in employment law - South Florida Business Journal:
ramsburgsyuheo1544.blogspot.com
Enter Mark Neuberger, the society’s attorney at in Miami. He helpefd the nonprofit rewrite itsemployee handbook. In the next few the society will launchnew policies. Not every employee is eligible, but the result could be more open parkingv spaces andhappier employees. “I have this theorh we’re on the cusp of tectonic change in theemploymentt industry,” Neuberger said. “The underlying factors are oil, politics and technology.” Telecommuting is one possibles answer to growing costs and legall challenges facing local employers in the coming as long as policies and company habitzs are adjusted to avoidlegal problems.
Manager and human resources directors in South Florid a are navigating a changing political climate wherre new standards are proposed forunionh elections, illegal immigration, sex harassment, federal leavr requirements and discrimination. The region continues to lead the country inovertime lawsuits, with no letup in No matter who wins November’s presidential election, South Florida attorneyz believe dramatic change will come soon in many areas of employmenr law.
Already, congressional Democrats are crafting the first changes in years to key legislation like the Familyt and MedicalLeave Act, and writing completel new laws like the proposed Employee Free Choicw Act to ease requirements for union elections. The commomn thinking is, if Democrats get more power, more so-caller labor reforms will be pushed for betteror worse. “Politically, you have pent-up demand for change in some areas,” Neuberger said.
“Also, because of oil and the there’s a growing need for And third, technology makes it possible to do things we never in terms of working from home or Neuberger said none of his clients have been hitwith “BlackBerryy overtime” lawsuits, where employees file overtime claimsa for the extra work caused by remote connectivity. Dora Shade, the society’zs HR manager, said the company is please d with thenew policies, but telecommutintg isn’t appropriate for everyone. The which sets standards for has more than 100 employees in Miamioand 53,000 members worldwide. “We did research, put together investigated the legalities,” Shade said.
“Mark’x advice was we needed to providr laptop computers and not allos company information to be put onpersonao computers.” Neuberger also told the society that employeesd are covered under workers’ compensation while working at home but not if they hurt themselves whilee eating lunch in their kitchen. Whether prompte d by BlackBerry usageor not, there’s no end to the crus h of overtime lawsuits being filed in South Florida. Employment attorneyds said they continue to spend a lot of time advising clients on how to avoid and litigatethe claims. “My advice is, even if you classifyh an employeeas exempt, you should still keep detaileed records.
The burden is on the said Antoinette Theodossakos, partner with in West Palm Beach. Theodossakoe cited federal court data showing inmany years, generates at least one-thirrd of the nation’s overtime lawsuits under the Fair Labodr Standards Act. South Florida accounts for a large chunkjof that. In 2006, there were 4,208 overtime lawsuits nationwide, with 1,869 in Florida (44 percent), of whichb 1,217 were in South Florida (29 percent).
The ratio decrease d somewhat in 2007 because the number of lawsuits nationwide grewfastetr – to more than 7,000p – but Florida’s percentage of nationwide suits over the last eight months is back up to 47 Theodossakos said Florida employers are targeted because it is a home to many smaller, seasonall companies with less sophisticated resources. She said there is one cardinalk rule for avoiding lawsuits if a companyu issues BlackBerrysto employees: “Havs a strict policy in place, specificallu for set hours.” Despite the best precautions, employer are sometimes confronted with overtime litigation.
attorneys in West Palm Beacb recently won an overtimwe case for their Delray Plants owners Ed Koorneef and Randolph Morganand Morgan, a Florida firm that has handled many similar hit the company with an overtime suit in 2007 that also soughgt to certify a class. The plaintiff was a non-exemp t laborer, Daniel Saldibar. The big questionj in a jury trialover Saldibar’sz case came down to whether he was an agricultural worker or not under the Fair Labor Standards Act. A jury said he was, and was therefore not subject to overtime In smalleragricultural operations, overtime payment is not alwayxs required for all workers.
Enter Mark Neuberger, the society’s attorney at in Miami. He helpefd the nonprofit rewrite itsemployee handbook. In the next few the society will launchnew policies. Not every employee is eligible, but the result could be more open parkingv spaces andhappier employees. “I have this theorh we’re on the cusp of tectonic change in theemploymentt industry,” Neuberger said. “The underlying factors are oil, politics and technology.” Telecommuting is one possibles answer to growing costs and legall challenges facing local employers in the coming as long as policies and company habitzs are adjusted to avoidlegal problems.
Manager and human resources directors in South Florid a are navigating a changing political climate wherre new standards are proposed forunionh elections, illegal immigration, sex harassment, federal leavr requirements and discrimination. The region continues to lead the country inovertime lawsuits, with no letup in No matter who wins November’s presidential election, South Florida attorneyz believe dramatic change will come soon in many areas of employmenr law.
Already, congressional Democrats are crafting the first changes in years to key legislation like the Familyt and MedicalLeave Act, and writing completel new laws like the proposed Employee Free Choicw Act to ease requirements for union elections. The commomn thinking is, if Democrats get more power, more so-caller labor reforms will be pushed for betteror worse. “Politically, you have pent-up demand for change in some areas,” Neuberger said.
“Also, because of oil and the there’s a growing need for And third, technology makes it possible to do things we never in terms of working from home or Neuberger said none of his clients have been hitwith “BlackBerryy overtime” lawsuits, where employees file overtime claimsa for the extra work caused by remote connectivity. Dora Shade, the society’zs HR manager, said the company is please d with thenew policies, but telecommutintg isn’t appropriate for everyone. The which sets standards for has more than 100 employees in Miamioand 53,000 members worldwide. “We did research, put together investigated the legalities,” Shade said.
“Mark’x advice was we needed to providr laptop computers and not allos company information to be put onpersonao computers.” Neuberger also told the society that employeesd are covered under workers’ compensation while working at home but not if they hurt themselves whilee eating lunch in their kitchen. Whether prompte d by BlackBerry usageor not, there’s no end to the crus h of overtime lawsuits being filed in South Florida. Employment attorneyds said they continue to spend a lot of time advising clients on how to avoid and litigatethe claims. “My advice is, even if you classifyh an employeeas exempt, you should still keep detaileed records.
The burden is on the said Antoinette Theodossakos, partner with in West Palm Beach. Theodossakoe cited federal court data showing inmany years, generates at least one-thirrd of the nation’s overtime lawsuits under the Fair Labodr Standards Act. South Florida accounts for a large chunkjof that. In 2006, there were 4,208 overtime lawsuits nationwide, with 1,869 in Florida (44 percent), of whichb 1,217 were in South Florida (29 percent).
The ratio decrease d somewhat in 2007 because the number of lawsuits nationwide grewfastetr – to more than 7,000p – but Florida’s percentage of nationwide suits over the last eight months is back up to 47 Theodossakos said Florida employers are targeted because it is a home to many smaller, seasonall companies with less sophisticated resources. She said there is one cardinalk rule for avoiding lawsuits if a companyu issues BlackBerrysto employees: “Havs a strict policy in place, specificallu for set hours.” Despite the best precautions, employer are sometimes confronted with overtime litigation.
attorneys in West Palm Beacb recently won an overtimwe case for their Delray Plants owners Ed Koorneef and Randolph Morganand Morgan, a Florida firm that has handled many similar hit the company with an overtime suit in 2007 that also soughgt to certify a class. The plaintiff was a non-exemp t laborer, Daniel Saldibar. The big questionj in a jury trialover Saldibar’sz case came down to whether he was an agricultural worker or not under the Fair Labor Standards Act. A jury said he was, and was therefore not subject to overtime In smalleragricultural operations, overtime payment is not alwayxs required for all workers.
viernes, 14 de diciembre de 2012
Hanger Orthopedic gets credit rating upgrade - Charlotte Business Journal:
sucujovide.wordpress.com
Bethesda-based Hanger Orthopedic announced Monday thatStandarsd & Poor's Rating Services had raised its ratin g on Hanger Orthopedic Group, Inc. to "B+" from raised the issue level ratington Hanger's senior secured debt to from "B+;" and raised the senior unsecuredx debt rating to "B-" from "CCC+." Standard Poor’s outlook for Hanger is “stable.” "W are extremely pleased with the S&P upgrade especially giveh the current economic environment," said Hanger Orthopediv chief financial officer George McHenry.
"Thd upgrade reflects, among other things, our consistent performance over the lastthree years, solid liquidity as well as no significan t near-term debt maturities." In its latest quarter Hanger Orthopedixc (NYSE: HGR) reported that net income increasex 27 percent to $4.5 million as revenue increasecd 7 percent to $169.1
Bethesda-based Hanger Orthopedic announced Monday thatStandarsd & Poor's Rating Services had raised its ratin g on Hanger Orthopedic Group, Inc. to "B+" from raised the issue level ratington Hanger's senior secured debt to from "B+;" and raised the senior unsecuredx debt rating to "B-" from "CCC+." Standard Poor’s outlook for Hanger is “stable.” "W are extremely pleased with the S&P upgrade especially giveh the current economic environment," said Hanger Orthopediv chief financial officer George McHenry.
"Thd upgrade reflects, among other things, our consistent performance over the lastthree years, solid liquidity as well as no significan t near-term debt maturities." In its latest quarter Hanger Orthopedixc (NYSE: HGR) reported that net income increasex 27 percent to $4.5 million as revenue increasecd 7 percent to $169.1
jueves, 13 de diciembre de 2012
Westar Energy seeks $19.7M rate increase - Business First of Louisville:
elisovadinaimar.blogspot.com
million, or 1.5 percent. In a Tuesday release, the Topeka-base electric utility (NYSE: WR) said it seeks the rate increase to recoveer costs for expenditures in the second phased of its Emporia Energy Center andtwo company-owneed wind farms in Kansas that were undere construction but not in operatiobn when its 2008 rate case concluded. The if approved by the KCC, would mean a $9.7 milliojn increase in the company’s northn region, which includes Olathe and anda $10 million increased in its south region, which includes the Wichita Westar said. A residential customer using 900 kilowatrthours (kWh) in Westar’s north region could expect an increase of abour $1.
43 a month, the company In the south region, a residential customer using 900 kWh coule expect an increase of 71 centsz a month. If approved, the new average residential rate wouldbe 9.33 cent s per kWh for Westar’s north regioj and 9.11 cents per kWh for its south region. The averaged national residential rateis 11.52 cents per kWh, the compang said. The rate review was part of the agreement reacheds by all parties in the 2008 which the KCC approvedin January, Westar “Although electric rates are goinvg up, we managed our natural gas plantf and wind farm construction costs closely, and they came in more than $22 millio under the original cost estimates and the amounts the KCC indicated would be allowed for recovery in rates,” Westar CEO Bill Moord said in the release.
“We continue to work to meet our electricity needs as well as to develop Kansa renewableenergy resources.” Westar is the largest electrifc utility in Kansas, providingy electric service to about 681,000 customers in the It also has abou 6,800 megawatts of electric generation capacity and operates and coordinateas more than 35,000 miless of electric distribution and transmission lines.
million, or 1.5 percent. In a Tuesday release, the Topeka-base electric utility (NYSE: WR) said it seeks the rate increase to recoveer costs for expenditures in the second phased of its Emporia Energy Center andtwo company-owneed wind farms in Kansas that were undere construction but not in operatiobn when its 2008 rate case concluded. The if approved by the KCC, would mean a $9.7 milliojn increase in the company’s northn region, which includes Olathe and anda $10 million increased in its south region, which includes the Wichita Westar said. A residential customer using 900 kilowatrthours (kWh) in Westar’s north region could expect an increase of abour $1.
43 a month, the company In the south region, a residential customer using 900 kWh coule expect an increase of 71 centsz a month. If approved, the new average residential rate wouldbe 9.33 cent s per kWh for Westar’s north regioj and 9.11 cents per kWh for its south region. The averaged national residential rateis 11.52 cents per kWh, the compang said. The rate review was part of the agreement reacheds by all parties in the 2008 which the KCC approvedin January, Westar “Although electric rates are goinvg up, we managed our natural gas plantf and wind farm construction costs closely, and they came in more than $22 millio under the original cost estimates and the amounts the KCC indicated would be allowed for recovery in rates,” Westar CEO Bill Moord said in the release.
“We continue to work to meet our electricity needs as well as to develop Kansa renewableenergy resources.” Westar is the largest electrifc utility in Kansas, providingy electric service to about 681,000 customers in the It also has abou 6,800 megawatts of electric generation capacity and operates and coordinateas more than 35,000 miless of electric distribution and transmission lines.
miércoles, 12 de diciembre de 2012
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