| Honest startups versus City bastards - the CGT conundrum
Analysis Why the Chancellor of the Exchequer, Alistair Darling, had to propose altering capital gains tax (CGT) back in the autumn is pretty simple to explain. There was a certain amount of vociferous shouting (led by the Guardianistas, of course) that the sight of private equity barons paying less tax than their cleaners was a moral outrage that must be stopped. Few stopped to think that the very idea was itself absurd: a lower rate of tax, possibly, but they certainly weren't paying less tax either in total or as a portion of their total earnings. No matter, a band wagon was rolling and something must be done. The original problem was that Gordon Brown had brought in "taper relief". Without going into the sort of details that only an accountant could love, the idea was that if you invested long term in the future of a business you would pay a lower rate of CGT on your profits than if you'd made the same amount spivving around with shares on the Stock Exchange.
Federal Reserve's rate cuts good for your wallet— and your mood, too
Here's what you can do while you wait for your tax rebate check to arrive next summer, courtesy of Congress and President Bush: Enjoy watching consumer interest rates drop on credit cards, home equity lines of credit or private student loans.
If the Federal Reserve's Open Market Committee this week cuts interest rates a second time in two weeks, as many predict, it'll be a boon for most people's wallets and perhaps their moods. Over the rest of this year, these cuts areexpected to become the fuel that could power up the sagging economy in South Florida and across the nation.
How big will the cut be? What will it do for consumers? Will it help the economy? When?
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Domini Shareowners Approve Shift from Index Tracking to Active ...
The transition carries implications for investors, such as capital gains taxes, which Domini is strategically mitigating. SocialFunds.com -- On Monday, Domini Social Investments announced results of a special meeting last week where shareowners approved of shifting the Domini Social Equity Fund (ticker: DSEFX), a bellwether of socially responsible investing (SRI), from passive index tracking to active management. After 15 years of tracking the Domini 400 Social Index (DSI) under exclusive license with index provider KLD Research & Analytics, the fund will commence active management by Wellington Management Company on November 30, 2006. So the question arises, how will this transition impact existing and new investors?
One of the primary financial considerations has to do with potential exposure to capital gains taxes specific to index funds, according to SRI financial advisor Bruce Herbert of Seattle-based Newground Social Investment.
Suncorp shares continue to dive
All this came as the credit crunch hit. Suncorp, whose banking arm made $569 million last year (37 per cent of group pre-tax profits), says it will cost $10 million-$15 million. Citigroup expects a higher final bill. They expect "strong commercial loan growth", and this plus storms could mean Suncorp lacks surplus capital for a special shareholder payout. The credit crunch also hit equity markets, potentially a negative for funds management arms. But December storms, plus others, could cost $230 million-$260 million. Macquarie analysts shaved 7.2 per cent off earnings and estimate an adjusted full-year profit of $1.3 billion. Suncorp is monitoring claims from the weekend NSW floods, but have yet to see a material amount emerge. The positive for Mulcahy about storms is the chance to "demonstrate exceptional customer service (which) enhances . . .
Kiel: Blues, McKees take the stage
They expect to secure financing for a multimillion-dollar makeover of the historic downtown entertainment venue within the next three to six months, said Ken Munoz, a partner at SCP. The plan is still in its early stages and faces several challenges. If a financial package is in place by mid-2008, construction and renovation would likely take another 12 to 18 months, Munoz said. That would put the project's estimated completion date somewhere around late 2009 to early 2010. "We've developed a business plan that includes concerts, Broadway shows and probably a permanent holiday-season Christmas show," Munoz said. "We would manage and operate it ourselves. But it will require some tax credit help and a significant equity investment from us. It's still a tough economic deal.
On Your Mind
We see it as our tax money being spent to spruce things up. Thanks to all of you who choose to make the West End a better place.Many thanks to Jerry at the Sierra Service Center and D&M Tire and Wheel. I had a flat recently and was miles away from home. These two businesses had me on my way again within minutes and they were very courteous as well. Thanks again for this experience and the help that I received.To the person who complained about the block West End wall: get a grip. The West End is the first place people see traveling into what is now known as Sierra Vista. I think it deserves to have more money spent on it so we can all be proud of how it looks today and beyond. I think the rock wall looks great and I know everyone who comes into Sierra Vista from the post and everywhere else can appreciate how the city looks.I totally agree with the caller complaining about the lack of sales items at Fry’s and Safeway.
Friday wild card
Once upon a time, flip-flogs (did anyone else call them "thongs?") were reserved solely for the beach, but are now everyday footwear. The problem - teenagers don't walk anymore, she said, they "shuffle." I can't help but wonder if my posture and gait was permanently altered by the days of untied sneakers. Question: Is it the shoes? It's gotta be the shoes... .
The Strong Arm of the Law: Violent force by police gets a pass
Beaulieu said her first thought was to help her friend, so she shouted advice not to take a breath test without a lawyer. Several of her friends joined in. Parker wrote in his report that he pulled Beaulieu away from the arrest scene, and she returned to yell at his fellow officer before he intervened again and accidentally dropped her onto the concrete. Beaulieu said she was thrown to the ground immediately. "The next thing I remember, I was lying on the ground in a pool of blood," she said. Beaulieu is 5-foot-10 and said she weighed 125 pounds at the time. Parker is 6 feet tall and weighs 175 pounds. He is described in a police document as "in good physical condition" and "well trained in his integrated combat and control skills." Beaulieu said Parker spoke to her briefly at the hospital, saying only: "If you had apologized, none of this would have happened." The injured woman said a jailer who saw her face that night said: "This is really unacceptable." The internal investigation report written by internal investigations Capt.
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