Shares, commodities and European currencies fell sharply in early afternoon deals with traders saying rumours that European governments are ready to impose a Europe-wide ban on some riskier trading practices had caused 'panic' across trading floors.
Yusuf Heusen, senior sales trader at IG Index said: 'There is talk of a Brussels blanket ban. Any rumour at the moment is going to lead to exaggerated moves.'
Yesterday, shares dropped after shock news Germany has banned some riskier forms of trading in financial shares and government bonds until March next year to try and restore order to global markets.
Today, traders noted rumours coming from Brussels that other European markets will also ban so-called naked short-selling.
A spokeswoman from Belgium's financial market regulator CBFA said the agency is in talks with other national regulators through the Committee of European Securities Regulators about whether all EU countries should follow suit, according to the Wall Street Journal.
Thursday, 20 May 2010
Friday, 29 January 2010
Advisory Board "2015: Women and Expo": an Initiative to Promote Women's Development in the World, Davos, 29 January 2010
The Advisory Board "2015: Women and Expo" met this morning in Davos to launch a five year plan to promote women's entrepreneurial creativity in the world, particularly in relation to the theme of the Expo "Feed the Planet, Energy for Life".
The Board is headed by Her Majesty Queen Rania of Jordan, who is co president with Government Extraordinary Commissioner for Expo 2015 Letizia Moratti of Milan. Among its members are Cherie Blair and Former EU Commissioner Emma Bonino.
The goal of the initiative is promoting projects related to women's issues all over the world, advancing cooperation among different countries and cultures at the same time. The projects will have concrete objectives, offering a contribution to the solution of problems like hunger, malnutrition and lack of access to clean water. The projects will be approved by the scientific committee of the Expo and be consistent with the theme of the Expo "Feed the Planet, Energy for Life".
The Board, composed of illustrious women from all over the world, aims to bring down the barriers still hindering the development of women. President of the board is Queen Rania of Jordan, co-president Letizia Moratti, the Government Extraordinary Commissioner for Expo 2015. Emma Bonino and Stefania Prestigiacomo have been appointed vice-presidents.
Among the other members: Diana Bracco, President of Expo 2015 SPA and the Italian Committee "2015: Women and Expo", Emma Marcegaglia, President of the Italian Industrial Association; Cherie Blair, President of the Cherie Blair Foundation for Women and of the Loomba Trust, Geeta Rao Gupta, President of the International Centre of research on women, Iweala Ngozi Okonjo, Director General of the World Bank, Viviane Wade, wife of the President of Senegal and President of the Foundation "Agir pour la Sante et l'Education", Margarita Cedeno de Fernandez, First Lady of the Dominican Republic and Josette Sheeran, Executive Director of the World Food Programme.
Members of the Board include also: Kerry Kennedy, Director of the Robert F. Kennedy Foundation of Europe; Valentina Matviyenko, Governor of St. Petersburg; Laurence Parisot, President of MEDEF; Rhoda Peace Tumusiime, African Commissioner of Rural Economy and Agriculture; Sandra Pupatello, Minister for Economic Development of Ontario; Petra Roth, Mayor of Frankfurt and Yalcindang Arzuhan Dogan, member of the Association of Turkish Industrialists.
Periodical meetings will take place to check the progress of the work and plan future strategies. Between now and 2015 the Board will also organise relevant annual conferences, starting with Shanghai.
The first operative meeting of the board will be held in Milan in May.
The Board is headed by Her Majesty Queen Rania of Jordan, who is co president with Government Extraordinary Commissioner for Expo 2015 Letizia Moratti of Milan. Among its members are Cherie Blair and Former EU Commissioner Emma Bonino.
The goal of the initiative is promoting projects related to women's issues all over the world, advancing cooperation among different countries and cultures at the same time. The projects will have concrete objectives, offering a contribution to the solution of problems like hunger, malnutrition and lack of access to clean water. The projects will be approved by the scientific committee of the Expo and be consistent with the theme of the Expo "Feed the Planet, Energy for Life".
The Board, composed of illustrious women from all over the world, aims to bring down the barriers still hindering the development of women. President of the board is Queen Rania of Jordan, co-president Letizia Moratti, the Government Extraordinary Commissioner for Expo 2015. Emma Bonino and Stefania Prestigiacomo have been appointed vice-presidents.
Among the other members: Diana Bracco, President of Expo 2015 SPA and the Italian Committee "2015: Women and Expo", Emma Marcegaglia, President of the Italian Industrial Association; Cherie Blair, President of the Cherie Blair Foundation for Women and of the Loomba Trust, Geeta Rao Gupta, President of the International Centre of research on women, Iweala Ngozi Okonjo, Director General of the World Bank, Viviane Wade, wife of the President of Senegal and President of the Foundation "Agir pour la Sante et l'Education", Margarita Cedeno de Fernandez, First Lady of the Dominican Republic and Josette Sheeran, Executive Director of the World Food Programme.
Members of the Board include also: Kerry Kennedy, Director of the Robert F. Kennedy Foundation of Europe; Valentina Matviyenko, Governor of St. Petersburg; Laurence Parisot, President of MEDEF; Rhoda Peace Tumusiime, African Commissioner of Rural Economy and Agriculture; Sandra Pupatello, Minister for Economic Development of Ontario; Petra Roth, Mayor of Frankfurt and Yalcindang Arzuhan Dogan, member of the Association of Turkish Industrialists.
Periodical meetings will take place to check the progress of the work and plan future strategies. Between now and 2015 the Board will also organise relevant annual conferences, starting with Shanghai.
The first operative meeting of the board will be held in Milan in May.
BOMA/Chicago Announces Winners of Inaugural Gold Circle Awards and 'The Office Building of the Year' (TOBY) Awards
The Building Owners and Managers Association of Chicago (BOMA/Chicago) announced the winners of its first-ever Gold Circle Awards and its annual "The Office Building of the Year" (TOBY) Awards last night at the BOMA/Chicago Gold Circle Awards Gala held at the Palmer House Hilton.
The Gold Circle Awards were created to honor individual excellence within Chicago's commercial real estate community in six categories, including Property Management Professional of the Year, Building Engineer of the Year, Security Professional of the Year, Emerging Leader of the Year, Affiliate Member of the Year and the Board of Directors Award.
Nominated by an executive within their organization, applicants were required to complete an extensive award application and submit two letters of recommendation. The finalists were evaluated by a panel of local real estate leaders based on a wide range of criteria including the applicants' professional accomplishments, positive impact on Chicago's commercial real estate community and involvement in BOMA/Chicago. The awards were extremely competitive, with more than thirty applications received in the Gold Circle Award's first year.
The 2010 Gold Circle Award winners include:
Property Management Professional of the Year: Laura Bossert, general manager of 737 North Michigan, was nominated by Katherine Scott of U.S. Equities Realty for the renovation of 737 North Michigan's exterior entrance and lobby. The renovations were the central components of the building's successful repositioning campaign. The Property Management Professional of the Year Award recognizes excellence in property management for professionals charged with managing the day-to-day operations and maintenance of BOMA/Chicago member buildings.
Building Engineer of the Year: Matt McManus, chief engineer at University Center, located at 525 South State Street, was nominated by Bill Vail of U.S. Equities Student Housing for spearheading a variety of sustainability initiatives, including utilizing low-VOC paint and recycled carpeting throughout the building. McManus also upgraded University Center's lighting system with motion sensors to increase the overall energy efficiency of the building. The Building Engineer of the Year Award honors operational excellence of engineering professionals overseeing the systems and infrastructure of Chicago's commercial buildings.
Security Professional of the Year: Keith Kambic, director of security at Willis Tower, was honored for overseeing a dramatic overhaul of security and life safety at the building. Kambic's security program reduced annual operating costs by more than $1.5 million dollars through staff reductions and the implementation of advanced technology and procedures. Kambic was nominated by Dean Johnson of U.S. Equities Realty for the Security Professional of the Year Award, which recognizes excellence in building security management.
Emerging Leader of the Year: Mason Taylor, assistant general manager of 353 North Clark, was named Emerging Leader of the Year, an award recognizing leadership achievement by BOMA/Chicago's building and affiliate members with less than five years of experience in the commercial real estate industry. Taylor was nominated by Lori Olson of Jones Lang LaSalle for his success recruiting sponsors of the Emerging Leaders Committee and its members. During the past year, Taylor's efforts have secured more than $10,000 in contributions to support BOMA/Chicago's Emerging Leaders.
Affiliate Member of the Year: Bobby Graham of Facility Solutions Group was recognized for his exemplary service to BOMA/Chicago as an active affiliate member. Graham was nominated by Robert Six of Zeller Realty for his efforts to promote affiliate members as a valuable resource to BOMA/Chicago building members.
Board of Directors Award: Janice Goldsmith, senior vice president of Zeller Realty Group, was honored with the Board of Directors Award for her extraordinary contributions to BOMA/Chicago and its members through her long-term service as the vice chair of the Codes Committee. Goldsmith led BOMA/Chicago's efforts to update elevator safety and inspection protocols for the City of Chicago and spearheaded the development of new self-certification processes for routine building inspections.
"BOMA/Chicago's members and member buildings continue to set the highest standards of achievement for the regional and national commercial real estate community," said Michael Cornicelli, executive vice president of BOMA/Chicago. "These individuals and property management teams comprise the best-of-the-best in our industry, and we are grateful for their leadership and unwavering commitment to excellence."
BOMA/Chicago also honored local TOBY winners for excellence in office building management and sustainability initiatives based on building size and facility type. The following buildings were recognized in eight respective categories for their achievements:
100,000 – 249,000 Square Feet Category: 20 North Michigan, managed by U.S. Equities Realty and owned by 12 North Venture, LLC.
250,000 – 499,000 Square Feet Category: 550 West Washington, managed by Jones Lang LaSalle and owned by Beacon Capital Partners.
500,000 – One Million Square Feet Category: 191 West Wacker, managed by Manulife Financial and owned by John Hancock Life Insurance Company.
Over One Million Square Feet Category: The Aon Center, managed by Jones Lang LaSalle and owned by Piedmont Office Realty Trust.
Government Building Category: The Ralph H. Metcalfe Federal Building, located at 77 West Jackson Boulevard. The building is owned and managed by the General Services Administration.
Renovated Building Category: 11 South LaSalle, managed by CB Richard Ellis, Inc. and owned by Prime LaSalle/Madison Partners, LLC.
Earth Award Category: 350 West Mart Center, managed by Merchandise Mart Properties, Inc. and owned by Vornado Realty Trust.
Historical Building Category: 680 North Lake Shore, managed and owned by Golub Realty Services, LLC.
TOBY Award nominees were required to submit a detailed application and undergo an extensive building inspection process by a team of TOBY judges. In addition, the building's management team was interviewed by a judging panel regarding its tenant relations programs, work order systems, emergency preparedness and security standards, budgeting, recordkeeping and staff experience and training.
The Chicago TOBY Award winners will compete in the north central regional TOBY competition, which includes local TOBY winners from Illinois, Michigan, Indiana, Ohio and Kentucky. Regional competition winners will qualify to compete in the international TOBY awards later this year, considered by many in the industry to be one of the highest honors the commercial real estate industry can bestow.
The Gold Circle Awards were created to honor individual excellence within Chicago's commercial real estate community in six categories, including Property Management Professional of the Year, Building Engineer of the Year, Security Professional of the Year, Emerging Leader of the Year, Affiliate Member of the Year and the Board of Directors Award.
Nominated by an executive within their organization, applicants were required to complete an extensive award application and submit two letters of recommendation. The finalists were evaluated by a panel of local real estate leaders based on a wide range of criteria including the applicants' professional accomplishments, positive impact on Chicago's commercial real estate community and involvement in BOMA/Chicago. The awards were extremely competitive, with more than thirty applications received in the Gold Circle Award's first year.
The 2010 Gold Circle Award winners include:
Property Management Professional of the Year: Laura Bossert, general manager of 737 North Michigan, was nominated by Katherine Scott of U.S. Equities Realty for the renovation of 737 North Michigan's exterior entrance and lobby. The renovations were the central components of the building's successful repositioning campaign. The Property Management Professional of the Year Award recognizes excellence in property management for professionals charged with managing the day-to-day operations and maintenance of BOMA/Chicago member buildings.
Building Engineer of the Year: Matt McManus, chief engineer at University Center, located at 525 South State Street, was nominated by Bill Vail of U.S. Equities Student Housing for spearheading a variety of sustainability initiatives, including utilizing low-VOC paint and recycled carpeting throughout the building. McManus also upgraded University Center's lighting system with motion sensors to increase the overall energy efficiency of the building. The Building Engineer of the Year Award honors operational excellence of engineering professionals overseeing the systems and infrastructure of Chicago's commercial buildings.
Security Professional of the Year: Keith Kambic, director of security at Willis Tower, was honored for overseeing a dramatic overhaul of security and life safety at the building. Kambic's security program reduced annual operating costs by more than $1.5 million dollars through staff reductions and the implementation of advanced technology and procedures. Kambic was nominated by Dean Johnson of U.S. Equities Realty for the Security Professional of the Year Award, which recognizes excellence in building security management.
Emerging Leader of the Year: Mason Taylor, assistant general manager of 353 North Clark, was named Emerging Leader of the Year, an award recognizing leadership achievement by BOMA/Chicago's building and affiliate members with less than five years of experience in the commercial real estate industry. Taylor was nominated by Lori Olson of Jones Lang LaSalle for his success recruiting sponsors of the Emerging Leaders Committee and its members. During the past year, Taylor's efforts have secured more than $10,000 in contributions to support BOMA/Chicago's Emerging Leaders.
Affiliate Member of the Year: Bobby Graham of Facility Solutions Group was recognized for his exemplary service to BOMA/Chicago as an active affiliate member. Graham was nominated by Robert Six of Zeller Realty for his efforts to promote affiliate members as a valuable resource to BOMA/Chicago building members.
Board of Directors Award: Janice Goldsmith, senior vice president of Zeller Realty Group, was honored with the Board of Directors Award for her extraordinary contributions to BOMA/Chicago and its members through her long-term service as the vice chair of the Codes Committee. Goldsmith led BOMA/Chicago's efforts to update elevator safety and inspection protocols for the City of Chicago and spearheaded the development of new self-certification processes for routine building inspections.
"BOMA/Chicago's members and member buildings continue to set the highest standards of achievement for the regional and national commercial real estate community," said Michael Cornicelli, executive vice president of BOMA/Chicago. "These individuals and property management teams comprise the best-of-the-best in our industry, and we are grateful for their leadership and unwavering commitment to excellence."
BOMA/Chicago also honored local TOBY winners for excellence in office building management and sustainability initiatives based on building size and facility type. The following buildings were recognized in eight respective categories for their achievements:
100,000 – 249,000 Square Feet Category: 20 North Michigan, managed by U.S. Equities Realty and owned by 12 North Venture, LLC.
250,000 – 499,000 Square Feet Category: 550 West Washington, managed by Jones Lang LaSalle and owned by Beacon Capital Partners.
500,000 – One Million Square Feet Category: 191 West Wacker, managed by Manulife Financial and owned by John Hancock Life Insurance Company.
Over One Million Square Feet Category: The Aon Center, managed by Jones Lang LaSalle and owned by Piedmont Office Realty Trust.
Government Building Category: The Ralph H. Metcalfe Federal Building, located at 77 West Jackson Boulevard. The building is owned and managed by the General Services Administration.
Renovated Building Category: 11 South LaSalle, managed by CB Richard Ellis, Inc. and owned by Prime LaSalle/Madison Partners, LLC.
Earth Award Category: 350 West Mart Center, managed by Merchandise Mart Properties, Inc. and owned by Vornado Realty Trust.
Historical Building Category: 680 North Lake Shore, managed and owned by Golub Realty Services, LLC.
TOBY Award nominees were required to submit a detailed application and undergo an extensive building inspection process by a team of TOBY judges. In addition, the building's management team was interviewed by a judging panel regarding its tenant relations programs, work order systems, emergency preparedness and security standards, budgeting, recordkeeping and staff experience and training.
The Chicago TOBY Award winners will compete in the north central regional TOBY competition, which includes local TOBY winners from Illinois, Michigan, Indiana, Ohio and Kentucky. Regional competition winners will qualify to compete in the international TOBY awards later this year, considered by many in the industry to be one of the highest honors the commercial real estate industry can bestow.
Get More Taxes Back, and Avoid Costly Refund Anticipation Loans this Tax Season
Goodwill Industries International urges workers to check whether they qualify for the Earned Income Tax Credit (EITC) today, EITC Awareness Day. EITC can be the financial boost families need in these tough economic times —- providing tax breaks to working people who earn low or moderate incomes, whether single or married, and resulting in as much as $5,657 in refunds for some families.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090716/DC47803LOGO)
Through a partnership with the Internal Revenue Service (IRS), Goodwill® will offer free tax preparation Volunteer Income Tax Assistance (VITA) sites nationwide to workers who earn low incomes and individuals with disabilities, among others.
In supporting an array of efforts to help workers, so that they have more funds available to cover essential family expenses, Goodwill also encourages people to avoid high-interest, short-term Refund Anticipation Loans (RALs). According to the Consumer Federation of America, RALs drained the refunds of nearly 9 million employees who earned low incomes in 2008, costing them $900 million.
"Goodwill hopes qualified workers will take advantage of the free tax preparation services at VITA sites," said Jim Gibbons, president and CEO of Goodwill Industries International. "The IRS estimates that nearly 20 to 25 percent of eligible families still don't claim the credit and we need to make sure that working families get back every dollar for which they are eligible to help cover transportation costs, education, and food, and to save for long-term expenses such as housing, education and other family expenses."
Gibbons added, "We are also doing our best to encourage hard working Americans to avoid the pitfalls of refund anticipation loans, which offer quick access to refunds, but at a high cost that is ultimately detrimental to individuals and their families."
In 2009, Goodwills across the country helped put more than $10 million in the pockets of hard-working families through the EITC. In addition, they prepared more than 19,000 returns, 1,700 of those for people with disabilities. Families are able to file for the EITC as far back as three years if they have not previously filed. More than 100 Goodwill agencies across the United States are engaged in tax preparation services and providing information on tax credits.
"Goodwill is ideally positioned to reach the target population of these workers so that they can correctly identify themselves as eligible for the credit, file a tax return and benefit from these refunds," said Gibbons.
Goodwill's goal is to help individuals receive the tax refunds they are due from the federal government — without loans, fees or interest charges.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090716/DC47803LOGO)
Through a partnership with the Internal Revenue Service (IRS), Goodwill® will offer free tax preparation Volunteer Income Tax Assistance (VITA) sites nationwide to workers who earn low incomes and individuals with disabilities, among others.
In supporting an array of efforts to help workers, so that they have more funds available to cover essential family expenses, Goodwill also encourages people to avoid high-interest, short-term Refund Anticipation Loans (RALs). According to the Consumer Federation of America, RALs drained the refunds of nearly 9 million employees who earned low incomes in 2008, costing them $900 million.
"Goodwill hopes qualified workers will take advantage of the free tax preparation services at VITA sites," said Jim Gibbons, president and CEO of Goodwill Industries International. "The IRS estimates that nearly 20 to 25 percent of eligible families still don't claim the credit and we need to make sure that working families get back every dollar for which they are eligible to help cover transportation costs, education, and food, and to save for long-term expenses such as housing, education and other family expenses."
Gibbons added, "We are also doing our best to encourage hard working Americans to avoid the pitfalls of refund anticipation loans, which offer quick access to refunds, but at a high cost that is ultimately detrimental to individuals and their families."
In 2009, Goodwills across the country helped put more than $10 million in the pockets of hard-working families through the EITC. In addition, they prepared more than 19,000 returns, 1,700 of those for people with disabilities. Families are able to file for the EITC as far back as three years if they have not previously filed. More than 100 Goodwill agencies across the United States are engaged in tax preparation services and providing information on tax credits.
"Goodwill is ideally positioned to reach the target population of these workers so that they can correctly identify themselves as eligible for the credit, file a tax return and benefit from these refunds," said Gibbons.
Goodwill's goal is to help individuals receive the tax refunds they are due from the federal government — without loans, fees or interest charges.
Thomson Reuters Industry-Leading Checkpoint Platform Becomes More Intuitive Than Ever Before
The Tax & Accounting business of Thomson Reuters has made Version 8.9 of its award-winning online Checkpoint® platform available to tax professionals. "We continually update Checkpoint to keep it filled with the latest and most thorough analysis of tax, accounting and corporate finance materials. Checkpoint's new natural language search feature will help users conduct searches on Checkpoint in a way that will bring them to their answers more quickly than ever before," said Steve Mendelsohn, Senior VP and General Manager, Online Media.
The natural language search enhancement offers users the option to conduct searches in plain English, in a format using questions, phrases, or a series of words. Natural language searches will produce 100 of the best matches to the search criteria.
Checkpoint 8.9 also offers new content in the international, corporate finance, and accounting and auditing areas. "Because of globalization, accountants and attorneys are practicing in the international market more than ever before. Those who are not considered international taxation specialists are still faced with clients with international issues," said Mendelsohn. "Thomson Reuters is addressing this by providing professionals with thorough materials that enable them to meet their client's growing need to work in the international arena, and simultaneously grow their businesses."
New international products include:
IBFD Global Tax Libraries on Checkpoint, which include IBFD Global Tax Explorer, IBFD Global Tax Explorer Plus, and IBFD Global Taxation & Investment. All of these products cover all regions and provide survey-level information, as well as primary source and current awareness materials,
IBFD World Tax Journal, a journal for academic research that includes articles from world-class tax academics in law, economics, policymakers and professionals, covering European taxation from a legal and an economic perspective, and
U.S. International Taxation for Individuals and Small Businesses Library on Checkpoint. This is an ideal resource for non-international tax practitioners who are increasing billable hours by providing international services as the need increases.
New corporate finance and accounting and auditing products on Checkpoint 8.9 include:
IASB Standards for Small and Medium Enterprises.
PPC's Single Audit Compliance Program Creator (a.k.a. SCAI), which can turn hundreds of pages of the Compliance Supplement into an easy-to-use audit program, tailored to the user's own federal award program and entity. The user answers quick questions on his or her client and federal award program to receive a customized audit program.
SEC Standards Tracker. Using Checkpoint's Create-a-Chart function, users will now instantly:
Check for recent standard setting or regulatory activity and how it impacts upcoming SEC filings,
Sort and filter results to conduct faster, more accurate research, and
Link directly from the chart to relevant pronouncements and standards, or to WG&L editorial analysis of those standards. Checkpoint users can create charts that list not only the issuing body, document and summary, status, and issue and effective dates, but also list SEC items and forms that are affected.
For more information on Checkpoint, visit http://ria.thomsonreuters.com.
The natural language search enhancement offers users the option to conduct searches in plain English, in a format using questions, phrases, or a series of words. Natural language searches will produce 100 of the best matches to the search criteria.
Checkpoint 8.9 also offers new content in the international, corporate finance, and accounting and auditing areas. "Because of globalization, accountants and attorneys are practicing in the international market more than ever before. Those who are not considered international taxation specialists are still faced with clients with international issues," said Mendelsohn. "Thomson Reuters is addressing this by providing professionals with thorough materials that enable them to meet their client's growing need to work in the international arena, and simultaneously grow their businesses."
New international products include:
IBFD Global Tax Libraries on Checkpoint, which include IBFD Global Tax Explorer, IBFD Global Tax Explorer Plus, and IBFD Global Taxation & Investment. All of these products cover all regions and provide survey-level information, as well as primary source and current awareness materials,
IBFD World Tax Journal, a journal for academic research that includes articles from world-class tax academics in law, economics, policymakers and professionals, covering European taxation from a legal and an economic perspective, and
U.S. International Taxation for Individuals and Small Businesses Library on Checkpoint. This is an ideal resource for non-international tax practitioners who are increasing billable hours by providing international services as the need increases.
New corporate finance and accounting and auditing products on Checkpoint 8.9 include:
IASB Standards for Small and Medium Enterprises.
PPC's Single Audit Compliance Program Creator (a.k.a. SCAI), which can turn hundreds of pages of the Compliance Supplement into an easy-to-use audit program, tailored to the user's own federal award program and entity. The user answers quick questions on his or her client and federal award program to receive a customized audit program.
SEC Standards Tracker. Using Checkpoint's Create-a-Chart function, users will now instantly:
Check for recent standard setting or regulatory activity and how it impacts upcoming SEC filings,
Sort and filter results to conduct faster, more accurate research, and
Link directly from the chart to relevant pronouncements and standards, or to WG&L editorial analysis of those standards. Checkpoint users can create charts that list not only the issuing body, document and summary, status, and issue and effective dates, but also list SEC items and forms that are affected.
For more information on Checkpoint, visit http://ria.thomsonreuters.com.
Pelosi: 'Today's GDP Numbers Are Sign of Economic Progress and Step Forward on Road to Recovery'
Speaker Nancy Pelosi issued the following statement today on news that the gross domestic product expanded at an annual rate of 5.7 percent in the fourth quarter, the fastest pace the economy has grown in more than six years.
"Today's GDP numbers are a sign of economic progress, marking another step forward on the road to recovery and job creation, clear evidence that our efforts to revitalize the economy are starting to pay off.
"From the first days of the 111th Congress, we have worked to create and save jobs, help small businesses, restore opportunity and economic security to the middle class, and lay a stronger foundation for the future. Economists of every stripe agree that our actions helped avert even greater economic catastrophe — from the Recovery Act and Cash for Clunkers to the first-time homebuyer tax credit.
"Despite today's good news, millions of Americans remain out of work and still struggle to make ends meet. Moving forward, we will continue to place jobs and our middle class at the center of our agenda — by completing work on initiatives that help small businesses start hiring, invest in infrastructure, create 4 million new jobs with affordable health care, create clean energy jobs, and protect Main Street from the recklessness of Wall Street."
"Today's GDP numbers are a sign of economic progress, marking another step forward on the road to recovery and job creation, clear evidence that our efforts to revitalize the economy are starting to pay off.
"From the first days of the 111th Congress, we have worked to create and save jobs, help small businesses, restore opportunity and economic security to the middle class, and lay a stronger foundation for the future. Economists of every stripe agree that our actions helped avert even greater economic catastrophe — from the Recovery Act and Cash for Clunkers to the first-time homebuyer tax credit.
"Despite today's good news, millions of Americans remain out of work and still struggle to make ends meet. Moving forward, we will continue to place jobs and our middle class at the center of our agenda — by completing work on initiatives that help small businesses start hiring, invest in infrastructure, create 4 million new jobs with affordable health care, create clean energy jobs, and protect Main Street from the recklessness of Wall Street."
Thursday, 28 January 2010
Walmart Foundation Tax Preparation Partnership Expects to Yield More Than $1 Billion in Tax Savings for Consumers
The Walmart Foundation, United Way Worldwide, One Economy Corporation and National Disability Institute (NDI) have partnered to bring free tax preparation and filing services to consumers nationwide. The initiative will also help educate consumers, and provide free preparation and filing for the Earned Income Tax Credit (EITC), a federal income tax credit of which many are unaware.
A $4 million grant from the Walmart Foundation will be shared among the program partners and is expected to help return $1 billion in total tax refunds, credits and tax preparation savings. In 2009, a similar effort from the Walmart Foundation helped more than 650,000 people receive tax refunds, credits and tax preparation savings totaling more than $950 million.
"The Walmart Foundation is building on the success of last year's program to again put savings and EITC refunds back in taxpayers' pockets," said Margaret McKenna, president of the Walmart Foundation. "As many continue to feel the impact of the challenging economy, our goal is to establish a more integrated and accessible program that helps Americans live better lives."
"EITC can be a financial boost for working people hit by hard economic times," said Julie Garcia, Director of the IRS Stakeholder Partnerships, Education and Communication division. "One in four eligible taxpayers overlooks the credit and this partnership is helping those who need it most."
Through this effort, a series of activities will take place:
United Way Worldwide will assist Americans who earn less than $49,000 with free tax and EITC filing at 91 community-based tax preparation sites.
Tax-payers earning less than $58,000 per year can take advantage of the MyFreeTaxes.com national tour. Equipped with One Economy's online tax filing technology and IRS-trained tax professionals, the tour will visit 30 communities across the U.S.
The NDI's Real Economic Impact Tour will assist qualifying taxpayers with disabilities who earn $49,000 or less. Funding from the Walmart Foundation allows NDI to expand its disability-inclusive tax assistance programs, including making free tax preparation sites and online tools accessible to disabled filers.
For additional information on United Way tax preparation sites, the MyFreeTaxes.com National Tour, the NDI's Real Economic Impact Tour and eligibility requirements visit www.walmartfoundation.org or www.myfreetaxes.com.
A $4 million grant from the Walmart Foundation will be shared among the program partners and is expected to help return $1 billion in total tax refunds, credits and tax preparation savings. In 2009, a similar effort from the Walmart Foundation helped more than 650,000 people receive tax refunds, credits and tax preparation savings totaling more than $950 million.
"The Walmart Foundation is building on the success of last year's program to again put savings and EITC refunds back in taxpayers' pockets," said Margaret McKenna, president of the Walmart Foundation. "As many continue to feel the impact of the challenging economy, our goal is to establish a more integrated and accessible program that helps Americans live better lives."
"EITC can be a financial boost for working people hit by hard economic times," said Julie Garcia, Director of the IRS Stakeholder Partnerships, Education and Communication division. "One in four eligible taxpayers overlooks the credit and this partnership is helping those who need it most."
Through this effort, a series of activities will take place:
United Way Worldwide will assist Americans who earn less than $49,000 with free tax and EITC filing at 91 community-based tax preparation sites.
Tax-payers earning less than $58,000 per year can take advantage of the MyFreeTaxes.com national tour. Equipped with One Economy's online tax filing technology and IRS-trained tax professionals, the tour will visit 30 communities across the U.S.
The NDI's Real Economic Impact Tour will assist qualifying taxpayers with disabilities who earn $49,000 or less. Funding from the Walmart Foundation allows NDI to expand its disability-inclusive tax assistance programs, including making free tax preparation sites and online tools accessible to disabled filers.
For additional information on United Way tax preparation sites, the MyFreeTaxes.com National Tour, the NDI's Real Economic Impact Tour and eligibility requirements visit www.walmartfoundation.org or www.myfreetaxes.com.
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