Minnesota State Government Was Shut Down

The Free Press reported: " Minnesota state government was shut down because intractable Republicans, along with an equally determined Democratic Gov. Mark Dayton, refused to budge on their bottom lines. The stalemate was broken Thursday afternoon when
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Don't Use Unemployment Compensation At Casinos

Don’t Use Unemployment Compensation At Casinos!

State Sen. Lisa Boscola (D-Northampton/Luzerne/Monroe) today introduced a floor amendment that would have banned unemployed individuals from accessing their unemployment compensation (UC) from ATM’s in casinos. “Unemployment benefit dollars are intended to be used to help financially-strapped families put food on the table and pay their bills,” Boscola said. “This money was (more...)

USA Debt Ceiling is Reached

The United States, as well as the rest of the world, might be covered with a new wave of financial crisis, that would be a tsunami in comparison with previous ones. The reason of such pessimistic prediction is the new record, beaten by U.S. nation debt – $14,294 trillion. The country (more...)

Blavatnik’s Access Industries Bought Warner Music

Blavatnik’s Access Industries Bought Warner Music

Access Industries, run by Russian born billionaire Len Blavatnik, has  bought the world's third largest music firm Warner Music Group, paid $3.3bn (£2bn) in cash. The music industry has always loved the life story about Len Blavatnik: born in the Soviet Union, arrived in the US at the (more...)

Forbes: Russian Billionaires Became Richer

Russian edition of Forbes has published an annual ranking of the wealthiest businessmen of the country. The number of dollar billionaires in Russia, according to journalists, has grown from 62 to 101. The combined wealth of 100 richest Russian businessmen amounted to 432 billion dollars. Last year they accounted for 297 billion dollars. The (more...)

Proposal Would Modernize PA Wine and Spirits Store Operations

Proposal Would Modernize PA Wine and Spirits Store Operations

In response to Senate Law and Justice Committee hearing on the modernization of the Liquor Control Board operations and in conjunction with the Senate Democrats “Budget Savings Plan,” three Democratic senators are unveiling legislation aimed at modernizing Pennsylvania’s wine and spirit store operations. “We must (more...)

States Look to New Taxes to Help Close Budget Gaps

States Look to New Taxes to Help Close Budget Gaps

New taxes are almost guaranteed for the states facing budget issues.  Roughly 44 states face this issue and the budget gaps total $125 billion between the states.  While some states have a larger gap than others, California’s is $25 billion or 20% of the country’s total, all states will likely (more...)

US Treasury to Sell Mortgage Assets

US Treasury to Sell Mortgage Assets

The US Treasury has decided to begin selling off a portion of the mortgage-backed securities purchased during the financial crisis.  The schedule would follow a $10 billion sale each month and is expected to generate a profit of $15-$20 billion.  This is plan is now being imposed in order to (more...)

Amsterdam’s prostitutes targeted by Dutch tax officials

The world’s crisis has influenced everyone. And Denmark is not an exception. The country suffers budget deficit just like everybody else. That’s why the Dutch government has decided to strengthen country’s economy by making prostitutes pay taxes. However, considering them victims of pimps and other traffickers, their taxation would be (more...)

Moscow Is the Home Of Billionaires

Forbes magazine named more than 200 billionaires. Mexico's Carlos Slim has topped the rich list. His fortune rose by $20.5bn (£12.65bn) to $74bn, again beating Microsoft founder Bill Gates ($56bn) into second place. . Six billionaireson the lis are from Facebook, including Mark Zuckerberg, Sean Parker, investors Peter Thiel,Yuri Milner, co-founders (more...)

Budget Plan Is Not The Answer

Leach: Governor’s Proposed Budget Plan Is Not The Answer

State Sen. Daylin Leach (D-Delaware/Montgomery) today released a statement about Gov. Corbett’s proposed budget plan for the 2011-2012 fiscal year. Leach said: "I am extremely disheartened by Gov. Corbett's proposed budget. Yes, Pennsylvania is battling a financial hardship, but making drastic cuts to essential services like (more...)

Phila Businesses Not Paying Sales Tax

According to an investigative report released by City Controller Alan Butkovitz, about "80 % of 100 businesses sampled in Philadelphia were not paying the sales tax". The city increased its add-on to the state sales tax from 1% to 2%, making the total in Philadelphia 8%, in  2009. Now Philadelphia is relying (more...)

Borders Would Close 200 Stores

Borders was founded in 1971 and bought by Kmart in 1992. Now Borders operates 642 stores, including about 500 superstores and 100 smaller Waldenbooks locations. Almost all of the stores closed by the company in recent years were Waldenbooks locations. Borders Group Inc had liabilities of $1.29 (more...)

Peco Electric Rate Will Increase

Peco Energy Co.'s residential electric rates will increase on April 1 from 9.92 cents to 9.99 cents, less than 1%. It is less than the Philadelphia utility had previously estimated.The price-to-compare, which is adjusted quarterly to reflect changes in commodity prices, will increase. The increase won't apply to customers who have chosen (more...)

Corporate Reputation Matters, Experts Say

A few years back, David Frishkorn had to deal with what he calls “perceived accounting shenanigans.” His employer’s business model was based on its ability to borrow money at a low cost, an ability that depended on its good reputation. Unfavorable perception caused the company’s low-cost borrowing to (more...)

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