Word: moneyitis
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Congress is moving to make those tax losses even more valuable. Typically, when a company loses money, it can apply for a refund of the taxes it has paid on profits over the past two years. However, Congress is moving closer to extending the so-called tax loss carryback provision to five years, instead of two. Senate majority leader Harry Reid recently threw his support behind the extension of the tax refund, adding it to a bill that would extend unemployment benefits. On Nov. 2, the Senate voted to close debate on the bill, which means a final vote...
...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...
...Eisenberg knows how to shop. He can see through marketing campaigns, advertisements, and all the subtle nuances behind a store's attempt to make you spend your money. In his new book, Shoptimism the former executive vice president of clothing retailer Lands' End (and former editor-in-chief of Esquire) examines why we shop, how we buy, and what sort of tricks the advertising industry tries to play on us. (Watch TIME's video "Are You Ready To Shop...
...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...
...European Commission said last month that it would launch an inquiry into whether Germany had been in breach of E.U. competition rules, Berlin told Brussels that such state aid would be available to any investor - not just Magna. Theoretically, this means that GM can apply for some of the money to save its European businesses, although German politicians probably won't take too kindly to that...