1. NY TIMES 4/22/13 Restyled as REAL ESTATE TRUSTS, varied businesses avoid taxes. The IRS is granting special exemptions from Federal Taxes, to corporations not registered as real estate trusts. The Corrections Corporation which is making the switch to a trust will save $70Million in taxes; Gaming Casinos and Spas will also save money as a REIT. A bonanza for a few, while the middle class is burdened with more then it’s fair share. ( Personally, I’m delighted that the Times is continuing it’s investigative reporting. Good job.). We have choices?
2. NY NEWS Channel #1 According to a spokesperson from the NYU SCHOOL OF REAL ESTATE there are plans under way to upgrade the city’s infrastructure. Plans should be available next month for Public Review. With the scheduled boom in East Midtown building, according to Robert A.M. Stern, the architect, infrastructure should precede the ” building boom” to facilitate the movement of people to places and preserve the district as it evolves. Building on what we have is a choice. Planning for the evolution of the City is a choice. With the advent of future super storms, planning our Cityscape becomes a Community Choice.
3. 6:30 PM CHANNEL 13 Nightly Business Review there was a discussion on the collection of sales tax on all e- commerce business, proposed by Congress and agreed to by Amazon and Walmart. My gut tells me no way, not now, it’s another burden on middle class shoppers? But it is a win win for Walmart, they collect the tax but don’t have to remit the tax to the government. Good deal for them, extra revenue and a further burden on the struggling middle class. Choices for all!
4. LOL. NY TIMES 4/24/13. SEC gets plea : Force companies to air donations; focus on Political Aid! “Business groups ready to campaign against disclosure rule. The US Chamber of Commerce, the National Association of Manufacturers and The Business Roundtable are urging Fortune 200 Companies to push back against disclosing their political contributions to shareholders.” This may or may not become an SEC RULING, but it raises a very important question: How much information should be disclosed to shareholders investing in a corporation? In my opinion, the more information available, the more informed the investor! Transparency is a choice. Every corporation should be required to disclose their discretionary spending: grants, loans, donations: anything that ultimately effects the Corporate bottom line, thus impacting the shareholder investment.