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...bills by that amount, which would be enough to cover a year's worth of federal taxes for 20 million Americans who make less than $20,000 a year and pay income taxes. How important is the tax credit to synfuel producers? In its latest annual report, Headwaters Inc., a Utah-based purveyor of synfuel processes and substances, says flatly, "Headwaters does not believe that production of synthetic fuel will be profitable absent the tax credits...
...such plants around the U.S. process 125 million tons of coal or, in many cases, coal waste from an earlier mining era. For owners and operators, the whole point isn't creating a profitable new energy resource for the U.S.; it's about collecting the tax subsidy. Progress Energy Inc. of Raleigh, N.C., which owns electric utilities that serve portions of the Carolinas and Florida, reported in a filing with the Securities and Exchange Commission that in 2002-04 its synfuel-production losses added up to $400 million. No problem: the company claimed $852 million in tax credits, magically transforming...
...contrast, current criminal probes of lawmakers are expanding rapidly. Like the Abramoff probe, the investigation into former Republican Representative Randy ?Duke? Cunningham from San Diego is also widening. Last week, defense contractor Mitchell Wade of MZM, Inc., pleaded guilty to supplying more than $1 million of the $2.4 million in bribes Cunningham previously admitted taking in a scheme that touches Defense Department officials and two other members of Congress. A Defense Department spokesman tells TIME that "there is an ongoing review by appropriate organizations within the Department" as to whether the Cunningham- and MZM-linked intelligence contracts would have compromised...
...greater control over student publications. “The court really messed this up,” said Northern Illinois Newspaper Association spokesman Jim Killam. Administrators could take advantage of the ruling’s “vague wording,” the president of College Media Advisers, Inc., Lance Speere, said. College Media Advisers is an organization that works with student newspapers to ensure that the papers are aware of their rights. Specifically, it urges college newspapers to obtain acknowledgement from school administrators that the newspaper represents a public forum that is afforded constitutional protection, Speere said...
...Still, the deal has been opposed by a Miami-based port operator, Continental Stevedoring & Terminals Inc., which has gone to court to challenge the measure on security grounds. And politicians from both parties have amplified that complaint, despite the assurances by the Bush administration that the company's record checks out, and that the UAE is an ally in good standing in the war on terror...