Archive for the ‘Legal’ Category
Thursday, February 21st, 2008 |
Source: IRS Newswire Issue Number: IR-2008-022
WASHINGTON — In addition to providing stimulus payments to individuals, the Economic Stimulus Act of 2008 provides incentives to businesses. These incentives include a special 50-percent depreciation allowance for 2008 purchases and an increase in the small business expensing limitation for tax years beginning in 2008.
50-Percent Special Depreciation Allowance
Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property over several years. It is an annual allowance for the wear and tear, deterioration or obsolescence of the property.
Under the new law, a taxpayer is entitled to depreciate 50 percent of the adjusted basis of certain qualified property during the year that the property is placed in service. (more…)
Posted in Bookkeeping, Legal | No Comments »
Thursday, February 21st, 2008 |
Source: Forbes.com
Direct retailer Lillian Vernon Corp. (Web: LillianVernon.com) on Wednesday filed for protection under Chapter 11 of the bankruptcy code, a week after it laid off half of its year-round work force.
Lillian Vernon sells low-cost gifts and gadgets through its catalog and Web site.
Full story at Forbes >>
Posted in Business Success, Legal, Niche Marketing, Product | No Comments »
Thursday, February 21st, 2008 |
James Temple | Source: San Francisco Chronicle
The 184-store chain “is in a severe liquidity crisis,” according to a Chapter 11 filing submitted to the U.S. Bankruptcy Court in Wilmington, Del., on Tuesday, signed by Chief Financial Officer Rebecca Roedell. The company is seeking permission from the court to shutter 90 stores and sell off inventory.
Sharper Image’s declining financial state “may be attributed, in significant part, to its air-purification products,” the filing said. Such items represented 9.4 percent of the company’s revenue in fiscal 2007, down from 27.7 percent in 2005, it said. The company, which has about 2,246 employees in the United States, listed $251.5 million in assets and $199 million in debts.
In addition to challenges on the Ionic Breeze front, high-tech products have lost much of their novelty and have become the purview of discounters like Target Corp., Wal-Mart Stores Inc. and Costco Wholesale Corp., said Kurt Barnard, president of Retail Forecasting LLC of New Jersey. The company also has faced growing competition from stores with similar models, including Hammacher Schlemmer and Brookstone Inc., which introduced a less-expensive air purifier.
“The Sharper Image is no longer alone in pioneering the field of new and exciting items,” Barnard said. “They have found it increasingly difficult over the last couple of years to hold onto their customers.”
He said it’s unlikely the company will ever emerge from bankruptcy protection.
The slowing economy and growing fears of a recession are contributing to Sharper Image’s woes, as shoppers become increasingly cost conscious, said Nina Gruen, executive vice president and co-founder of San Francisco research firm Gruen Gruen + Associates.
“They’re not going out and spending frivolously right now,” she said. “Impulse today is gasoline. They’re not about to buy Sharper Image.”
Get the rest of the story at the San Francisco Chronicle >>
Posted in Business Success, Legal, Niche Marketing, Product | No Comments »
Tuesday, February 19th, 2008 |
[Karin's Take] Here’s a perfect example of how changing your advertising can result in a major sales boost. This is why it is imperative to understand who your buyer is, what they are looking for, and that your advertising message actually matches up and speaks to that buyer. If you’re not hitting them in a way that speaks to them, your ad isn’t doing everything it could for you.
So if you’re not getting the results you want, make a change and test it. Keep changing, and keep testing, and keep measuring and analyzing the results. If you don’t track the changes you make, measure and analyze the results of each change, then you have no idea what’s working and what’s not!
Now let’s read how the boys at Absolut kicked some butt. ##
By Jeremy Mullman | Source: Advertising Age
What happens when you ditch a legendary, iconic and recognized ad strategy synonymous with your brand for decades?
Absolut resurgence.
After trading in its print-based campaign tied to the shape of its bottle for a global multimedia approach last year themed, “It’s an Absolut world,” the Swedish vodka brand saw its sales spike.
According to the company, global case shipments jumped 9%, and Absolut gained market share in the crowded and increasingly competitive U.S. market — no easy feat for a mature brand trying to fend off an ever-expanding pool of upstarts.
Absolut, the No. 2 U.S. vodka brand, trailing only Smirnoff, also broke the 5 million case mark last year for the first time — a status shared with only Bacardi, Smirnoff, Captain Morgan and Jack Daniels in the spirits space.
“We took a really different approach and it paid tremendous dividends,” said Ian Crystal, Absolut’s brand director. “A lot of our key numbers had been flat or declining, and they’re all going up now.”
Absolut’s sluggishness was partially a result of an ad campaign that had fallen out of step with its product’s place in the market, executives said after they made the campaign switch last spring.
Even so, the marketer was reluctant to end one of the most celebrated campaigns in the history of alcohol marketing, no matter how irrelevant it had become. “We almost looked at [change] as heretical,” said Rob Smiley, creative director at TBWA/Chiat/Day, Absolut’s longtime creative agency. “But consumers really needed to see something fresh.”
TBWA Managing Director Jamie Gallo said the campaign attempted to steer Absolut clear of what he called the “rational benefits” being claimed by so many upstarts in the category, many of whom boast the best taste or the smoothest feel. Many of these claims contradict each other, and a few have even wound up in lawsuits. “We know people don’t purchase as much on rational benefits as on emotional benefits,” he said.
Read the full story at Advertising Age >>
Posted in Legal, Lessons in Marketing, Marketing, Niche Marketing | No Comments »
Friday, February 15th, 2008 |
[Karin's Take] “Web 2.0″ and “Social Networking” have become huge catch-phrases and in-crowd type marketing over the past 18 months. Yet, is it such a great idea? has been slow to play out. There have been plenty of adopters to Facebook (at least as evidenced by frequent referrals to the service on news broadcasts) but now we are finally seeing the Dark Side of Facebook… do you really want to subject yourself to this kind of headache? Will it be a headache for you? Think carefully before jumping in. Your short-term marketing gain today could be a long-term black mark tomorrow. ##
by George Simpson | Source: Online Media Daily
MULTIBILLIONAIRE BILL GATES, WHOSE COMPANY invested $240 million in Facebook just last year, has already abandoned his Facebook account. A Microsoft spokesperson told The Wall Street Journal that Mr. Gates hasn’t deleted it, but that he has stopped using it because he was inundated with friend requests. More likely, he tried to delete it and found out it is nearly impossible to do so. Even if you deactivate your account, according to The New York Times, Facebook still keeps a copy of all the information you ever posted. And, it’s still possible to contact people through deleted Facebook pages.
Not to pile on, but according to MSNBC, Facebook-types are turned off by too much advertising on social-networking sites–one reason the amount of time the average person spends on a social-networking site has dropped 14% over the last four months, according to comScore.
Did we just hear the death-knell of Web 2.0? Probably not, but I think we are seeing a divide between those who have a life and those who invent a life online. (more…)
Posted in Internet, Legal, Lessons in Marketing, Media Trends, Niche Marketing | No Comments »
Monday, July 23rd, 2007 |
Source: BBC News
Credit information group Equifax said members of sites such as MySpace, Bebo and Facebook may be putting too many details about themselves online.
It said fraudsters could use these details to steal someone’s identity and apply for credit and benefits.
About 80,000 people in the UK were victims of identity theft last year, at a cost to the economy of £1.5bn.
Passwords
Neil Munroe, external affairs director for Equifax, said: “Fraudsters are taking advantage of the new craze for social networking.
“The problem is that people don’t realise the significance of the kind of information they are putting out on the web and who may be accessing it.
“More and more consumers are signing up to these sites every day and chances are they’ll put on their date of birth, location, e-mail, job and marital status.
“Fraudsters can use this information to steal an individual’s identity and open accounts in their name.”
The group advised people to limit the personal information they make available about themselves online.
It said people should avoid putting their full date of birth on one of the sites, as well as the names of children or pets as these are often used as passwords.
Mr Munroe said: “We don’t want to stop people using these sites, but we do advise them to limit the amount of information they make available to stop people stealing their identity.”
Posted in Internet, Legal, Media Trends | No Comments »
Tuesday, July 3rd, 2007 |
Source: Examiner
WASHINGTON (Map, News) – The Supreme Court on Thursday abandoned a 96-year-old ban on manufacturers and retailers setting price floors for products.
In a 5-4 decision, the court said that agreements on minimum prices are legal if they promote competition.
The ruling means that accusations of minimum pricing pacts will be evaluated case by case.
The Supreme Court declared in 1911 that minimum pricing agreements violate federal antitrust law. (more…)
Posted in Business Success, Legal, Marketing, Product | No Comments »
Tuesday, July 3rd, 2007 |
Source: The Wall Street Journal (subscription required)
Debit cards work very much like credit cards, and they can be much easier to get, but many consumer groups recommend limiting debit card usage because of some of the risks involved. Debit cards don’t have the same security precautions as credit cards but remain particularly popular in the 18-to-25 demographic.
Posted in Business Success, Legal | No Comments »
Tuesday, July 3rd, 2007 |
Source: The Wall Street Journal (subscription required)
Gov. John Baldacci of Maine has signed a new state law designed to prevent new big-box retail development if an impact study determines there will be “undue adverse impact” on more than one local factor: the environment, municipal services or local businesses. Lawmakers in six states have considered similar legislation over the past two years.
Posted in Legal | No Comments »
Thursday, June 21st, 2007 |
Source: NRF
The National Retail Federation today strongly urged the U.S. Senate to reject legislation that would take away the right to secret ballots in union elections, saying the move would subject workers to intimidation and that the bill is moving too quickly for proper consideration.
“Under the system created by this legislation, the union organizers themselves – not the federal government – oversee the process, and the workers’ votes are made public to the employer, the union organizers and co-workers,” NRF Senior Vice President for Government Relations Steve Pfister said today in a letter to Senate Majority Leader Harry Reid, D-Nev and all Senators. “There are many examples where card check elections have been challenged on the basis of coercion, misrepresentation, forgery, fraud, peer pressure and promised benefits.”
Full article at NRF Website >>
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Sunday, May 27th, 2007 |
[SS NOTE] Rules changes which would affect the people who buy at your store, using the payment means they often use at your store! This is a huge issue that merchants should keep an eye on. If we can help our customers spend their money wisely while being better informed & protected, it helps stack the odds in our favor that those customers will be able to return to our shops & spend money over and over again. /ssÂ
By Sue Kirchhoff, USA TODAY
WASHINGTON — Lenders and retailers offering credit cards and other forms of open-ended credit would have to give consumers more straightforward information about interest rates and fees, and 45 days’ notice before raising rates under a new proposal.
In its first major rewrite of Truth in Lending rules in 26 years, the Federal Reserve on Wednesday laid out proposed changes for credit card advertising, billing and consumer updates. The Fed mantra: simpler, clearer.
“If information is put out, and it’s not consumer-friendly, it has absolutely no value,” Fed Governor Frederic Mishkin said at a meeting in the central bank’s ornate boardroom.
The proposals, based on extensive use of consumer focus groups, respond to the increasing complexity of credit products. The Fed also plans a new look at mortgage and home-equity financing.
Read the rest of they story at USA TODAY >>
Posted in Bookkeeping, Legal | No Comments »
Wednesday, May 16th, 2007 |
[SS NOTE] Four words: “I wish them luck.” 
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Microsoft claims that free software like Linux, which runs a big chunk of corporate America, violates 235 of its patents. It wants royalties from distributors and users. Users like you, maybe. Fortune’s Roger Parloff reports.
By Roger Parloff, Fortune senior editor | Source: Fortune/CNNMONEY.com
(Fortune Magazine) — Free software is great, and corporate America loves it. It’s often high-quality stuff that can be downloaded free off the Internet and then copied at will. It’s versatile – it can be customized to perform almost any large-scale computing task – and it’s blessedly crash-resistant.
A broad community of developers, from individuals to large companies like IBM, is constantly working to improve it and introduce new features. No wonder the business world has embraced it so enthusiastically: More than half the companies in the Fortune 500 are thought to be using the free operating system Linux in their data centers.
But now there’s a shadow hanging over Linux and other free software, and it’s being cast by Microsoft (Charts, Fortune 500). The Redmond behemoth asserts that one reason free software is of such high quality is that it violates more than 200 of Microsoft’s patents. And as a mature company facing unfavorable market trends and fearsome competitors like Google (Charts, Fortune 500), Microsoft is pulling no punches: It wants royalties. If the company gets its way, free software won’t be free anymore.
The conflict pits Microsoft and its dogged CEO, Steve Ballmer, against the “free world” – people who believe software is pure knowledge. The leader of that faction is Richard Matthew Stallman, a computer visionary with the look and the intransigence of an Old Testament prophet.
Read Full Article here.
Posted in Internet, Legal | No Comments »
Thursday, April 26th, 2007 |
by Mickey Alam Khan | Source: DM News
While welcoming a national uniform standard for data breach notification, the nation’s leading lobby of retailers expressed worry over provisions including a credit freeze that are under consideration as part of a new identity theft bill in the Senate.
The Senate Commerce, Science and Transportation Committee voted yesterday on S. 1178, the Identity Theft Protection Act of 2007, sponsored by committee Ranking Member Ted Stevens, R-AL. That bill alarms the National Retail Federation in Washington.
“Disparate notification standards create significant compliance burdens for businesses that operate in many different states and may also lead to confusion for consumers,†Steve Pfister, NRF senior vice president for government relations, said in a letter to committee members, alluding to the 36 state-level notification laws enacted over the past four years. “NRF supports efforts to create a clear and uniform national standard for data breach notification.
“The current draft of S. 1178, while effectively dealing with the issue of preemption, contains an unworkable notice trigger which we believe could lead to the ineffective and cumbersome over-notification of consumers who are not at risk of identity theft,†the letter said. (more…)
Posted in Bookkeeping, Legal | No Comments »
