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...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 »

...decision to back out of the sale of its European operations this week was a huge embarrassment for German Chancellor Angela Merkel. She had thrown her weight behind the bid by the Canadian-Austrian car-parts maker Magna and its Russian partner, Sberbank, to buy Opel and Vauxhall from the beginning, seeing it as the best way to save German jobs and offering both sides billions of dollars in loan guarantees to grease the wheels. Before GM made its sudden U-turn on Nov. 3, Merkel had also been riding high. She was coming off an electoral victory in September...

Author: /time Magazine | Title: GM Keeps Opel, Announces Job Cuts, Angers Germans | 11/5/2009 | See Source »

...success you would attribute to the [tax-credit] program and how much of it would have happened anyway because [home] prices went down significantly and interest rates went down at the same time, so the affordability became much better even without the program," says Bill Norwalk, a tax partner with Ireland San Filippo...

Author: /time Magazine | Title: Should the Home Buyers' Tax Credit Be Extended? | 11/4/2009 | See Source »

...There are possibly hundreds of millions of dollars that have been paid to taxpayers who are not entitled to the credit," said Representative John Lewis, a Georgia Democrat, while chairing a House committee earlier this month. Still, Stuart Saft, a partner at Dewey & LeBoeuf, thinks the tax-credit program can be cleaned up without eliminating it. "It's a question of monitoring its use more closely...

Author: /time Magazine | Title: Should the Home Buyers' Tax Credit Be Extended? | 11/4/2009 | See Source »

After a seven-year legal battle, the charges were dropped against the family. Marroquín married his longtime Colombian girlfriend and now, along with an Ecuadorian partner, designs buildings in Buenos Aires. Still, his upbringing among fabulously wealthy criminals can show through in his blueprints. "He's a very good architect," say Entel, the filmmaker. "But sometimes you can see the way he grew up around Pablo Escobar reflected in his ideas. Because I would never think of designing furniture for inside a swimming pool...

Author: /time Magazine | Title: My Father, the Drug Lord: Pablo Escobar's Son | 11/4/2009 | See Source »

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