Archive for the ‘General Business Matters’ Category

The U.S. Dollar – Lead, Follow or Get Out of the Way.

Sunday, October 25th, 2009

Despite a recent minor rally against some major foreign currencies, the U. S. dollar is under mounting pressure around the world, and has lost its luster and “safe harbor” monetary status.

Following are some interesting articles regarding the weakening dollar, record gold prices and various predictions regarding international implications of both.

Lazard Asset Management switches share value from U.S. Dollar to Pound Sterling:

http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20091023005211&newsLang=en

 

Gold vs. NADAQ 

“Call me cynical if you wish, but I believe a one or two ounces of a shiny metal will be equal in value to the entire Dow Jones Industrial Average before this bust is over. It happened in the 1930s and it happened in the 1970s, both during the context of secular bear markets in stocks like the one we are smack dab in the middle of right now.”

http://www.kitco.com/ind/Brochert/oct132009.html

 

Silver Shines Brighter Than Gold in 2009

http://finance.yahoo.com/banking-budgeting/article/107888/amid-surging-gold-prices-silver-quietly-shines.html?mod=bb-banking_budgeting

 

Oil vs. Gold

http://finance.yahoo.com/tech-ticker/article/347728/Commodity-Strategy-Gold-Has-More-Upside-Potential-vs.-Oil-Strazzullo-says?tickers=gld,uso,oih,dxo,gdx,xle,oil&sec=topStories&pos=9&asset=&ccode=

 

In summary, gold and silver prices should be monitored by every skittish investor and should be considered as hedge for at least a portion of their longer term portfolio.  Foreign stocks, securities and currencies may also be attractive if the dollar continues to fall.

 

Secret Swiss Bank Accounts No Longer Secret

Monday, August 24th, 2009

Swiss Bank Accounts facing Assessment from US Treaty Modifications

The U.S. Treasury and Justice Department have finally broken through the super confidential Swiss banking system and the IRS will be assessing some large civil and criminal penalties against U.S. individuals and businesses in the coming months.

While even small businesses often have international operations, care must be exercised in planning and reporting your banking, investment and business operations.

Here are some recent articles discussing Foreign Bank Account Disclosures and the Swiss treaty modifications:

U.S. – Swiss Treaty Modifications Triggered by UBS Accounts

Taxpayers Begin to Feel the Heat From Swiss Account Disclosure

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CPA Firm Hiring Trends – March AICPA Corporate Finance Newsletter

Thursday, March 5th, 2009

The tough economy has even taken its toll on many CPA firms.

Click the link for the latest AICPA Article: 

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2009/CorpFin/Tough_Job_Market.jsp

Check out AICPA archive article regarding pointers for CPA graduates (or any employee candidate for that matter):

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2008/CorpTax/campus.jsp

For various videos regarding economic, tax and job outlook, please check out myLos Angeles Business TV videos in the "Video Vault" at:  www.losangelesbtv.com

Union Card Check – The End of the Private Ballot ? The End of Free Enterprise?

Tuesday, February 10th, 2009

Latest Development (3/22/09):

Starbucks, Costco and Whole Foods have proposed an alternative approach to the Employee Free Choice Act.  In lieu of the 50% threshold, this new proposal would require 70% of employees to sign union cards in order to automatically become a union shop.  Read the following WSJ article for more details on this alternative:

Download Alternative Free Choice Act WSJ March 21

                                        

A looming Congressional battle may soon overshadow the Obama Stimulus Package (TARP 2) and the challenging economic environment.

If enacted, the union-backed and Obama administration-backed euphemistically titled "Employee Free Choice Act" will effectively end an employee's ability to cast a confidential ballot when their workplace is deciding whether to retain non-union status, or convert to a union shop.

Confidential voting is a critical element to our democratic process and the proposed "Card Check" system will place the employee in a very awkward position with both the employer and the unions.  I doubt many citizens would approve of releasing their 2008 Presidential ballot to their employer and others to see how they voted on federal, state and local matters - and this Card Check system is a dangerous precedent. 

Employers, workers and legislators should take a hard look at the labor rates, pension, employee benefit and other costs in unionized and non-union businesses structures.   Apparently the late 2008 widespread backlash against the U.S auto industry's union cost structure (vs. foreign competitors with U.S. unionized manufacturing operations) has faded from the public for the moment. 

Job creation and retention should be a cornerstone of the stimulus effort; however, balancing a fair wage and benefit package while achieving an internationally competitive business structure is the critical objective for all of us.

If legislators truly want to retain and create jobs and stretch our tax dollars, now is not the time to ratchet up high-cost union jobs at the expense of non-union jobs.  Both types of operations have their merits, but the awarding of infrastructure contracts and incentivising job growth should not focus solely on union shops. 

Please read the U.S. Chamber and Cal Chamber's summary of this critical issue and the significant damage this will do to private enterprise:

http://www.uschamber.com/issues/index/labor/cardchecksecrbal.htm

http://www.uschamber.com/chambers/efca_gr_toolkit    U.S. Chamber Card Check Toolkit – Act Today

Download US Chamber Card Check

Download Cal Chamber Card Check Position Summary

Download Long Beach Press-Telegram 2009 Infrastructure Op-Ed