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...extension would mean big bucks for corporate America. And unlike "carryforwards," which can only be realized if a company returns to profitability, carrybacks generate immediate cash, as long as the company has earned money in the past half-decade. The Joint Committee on Taxation recently estimated that the carryback extension would result in refunds of $33 billion to companies...

Author: /time Magazine | Title: Recession Dividend: A Boom in Corporate Tax Credits | 11/5/2009 | See Source »

...credits can matter a lot," says Blake Christian, a tax partner at accounting firm Holthouse Carlin & VanTrigt. "For a midsize company that is still struggling to get loans, the ability to monetize these losses through carrybacks and getting a refund can mean the difference between the company surviving...

Author: /time Magazine | Title: Recession Dividend: A Boom in Corporate Tax Credits | 11/5/2009 | See Source »

...started Shoptimism before the recession. How did the economic crash change the book? A lot of people who might have been romantic buyers in 2007 steadily became more and more classic. They had to be much more mindful about how to spend their money. Suddenly cool didn't mean trendy, it meant something that would last or was a really great bargain...

Author: /time Magazine | Title: Shoptimism: Why We Buy Things | 11/5/2009 | See Source »

...position of president turns into more of a managerial role, that could mean the real power player may be the new High Representative for Foreign and Security Policy, an awkward title for what is essentially the E.U. foreign minister. Whoever is named to this post will head the E.U.'s new 8,000-strong diplomatic service, oversee a $12 billion foreign aid budget and speak for the E.U. in key meetings with other countries...

Author: /time Magazine | Title: A Treaty Ratified, the E.U. Turns to Picking Its Leader | 11/4/2009 | See Source »

...Everyone loves a joker, but that doesn't mean they can envisage him in high office: 43% of respondents to the conservativehome.com survey felt Johnson wouldn't be a credible candidate for Prime Minister. There are signs, too, that the Johnsonian charm may be wearing thin on some Londoners - even the drivers of the capital's fleet of black taxis, once BoJo's most passionate advocates, who complain that he has yet to deliver on campaign pledges to get London's clogged streets moving again. After some high-profile actions early in his term - including the ouster of Metropolitan police...

Author: /time Magazine | Title: London Mayor Saves Filmmaker from Mugging | 11/4/2009 | See Source »

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