Protests spread to more than a dozen cities (Reuters)

NEW YORK (Reuters) ? Protests against corporate greed and economic inequality spread across America on Thursday and found unlikely sympathy from a top official of one of main targets of scorn -- the Federal Reserve.

The Occupy Wall Street movement that began in New York last month with a few people has expanded to protests in more than a dozen cities.

They included Tampa, Florida; Trenton and Jersey City, New Jersey, Philadelphia, and Norfolk, Virginia in the East; to Chicago and St. Louis in the Midwest; Houston, San Antonio and Austin in Texas; Nashville, Tennessee; and Portland, Oregon, Seattle and Los Angeles in the West.

Dallas Federal Reserve President Richard Fisher surprised a business group in Fort Worth, Texas on Thursday when he said: "I am somewhat sympathetic -- that will shock you.

The Fed played a key role in one of the protest targets, the 2008 Wall Street bailout that critics say let banks enjoy huge profits while average Americans suffered high unemployment and job insecurity.

"We have too many people out of work," Fisher said. "We have a very uneven distribution of income. ... We have a very frustrated people, and I can understand their frustration."

In addition to the bailout, protesters have raged against corporate greed and influence over American life, the gap between rich and poor, and hapless, corrupt politicians.

"I'm fed up with the government, I'm fed up with the bailouts. If I fail at my job, I don't get a bonus -- I get fired," said Tim Lucas, 49, vice president of a software company, who was protesting in Austin.

Hundreds of people have been arrested in New York since the protests began last month. On Wednesday, the biggest crowd so far of about 5,000 people marched on New York's financial district, and police used pepper spray on some protesters. But protests for the most part have been nonviolent.

On Thursday, a few hundred protesters milled about a park near Wall Street where they have set up camp, but there were no immediate plans for another march.

With support from labor unions boosting the protesters' ranks, organizers predicted momentum would continue to build.

"This is the beginning," said John Preston in Philadelphia, business manager for Teamsters Local 929. "Teamsters will support the movement city to city."

In Philadelphia, up to 1,000 protesters chanted and waved placards reading: "I did not think 'By the People, For the People' meant 1 percent," a reference to their argument the country's top few have too much wealth and political power.

In Los Angeles, more than 100 protesters crowded outside a Bank of America branch downtown, while a smaller group dressed in business attire slipped inside and pitched a tent. Eleven were arrested when they refused to remove the tent.

In Washington, protesters carried signs that read: "Human Needs, Not Corporate Greed" and "Stop the War on Workers."

"I believe the American dream is truly in jeopardy," said protester Darrell Bouldin, 25, of Murfreesboro, Tennessee. "There are so many people like me in Tennessee who are fed up with the Wall Street gangsters.

In San Antonio, protesters gathered at the city's Confederate War Veterans Monument and chanted: "The banks got bailed out, we got sold out."

In addition to the Fed's Fisher, senior politicians and corporate executives including President Barack Obama and Vice President Joe Biden, tried to show empathy for the protesters.

"People are frustrated and, you know, the protesters are giving voice to a more broad-based frustration about how our financial system works," Obama said at a news conference in Washington.

Biden, speaking at the Washington Ideas Forum, likened the protest movement to the Tea Party, which sprang to life in 2009 after Obama's election and has become a powerful grass-roots conservative force helping elect dozens of Republicans to office.

"The American people do not think the system is fair," Biden said.

New York Governor Andrew Cuomo said he understood the anger being felt by the protesters, but said that he had to balance that with the economic importance of Wall Street to the state. Wall Street is the pillar of the New York state economy, making up 13 percent of tax contributions.

The head of the General Electric Co finance arm, Michael Neal, told Reuters in an interview: "People are really angry, and I get it. If I were unemployed now, I'd be really angry too."

(Additional reporting by Corrie MacLaggan in Austin, Bruce Olson in St. Louis, Jim Forsyth in San Antonio, Ian Simpson in Washington, Dave Warner in Philadelphia, Chris Baltimore in Houston, Tim Ghianni in Nashville, Mary Wisniewski in Chicago, Teresa Carson in Portland, Nicole Neroulias in Seattle and Luch Nichols in Los Angeles; Writing by Michelle Nichols and Barbara Goldberg; Editing by Ellen Wulfhorst and Greg McCune)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20111006/us_nm/us_wallstreet_protests

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Cold, Flu Season Poses Risks for Kids With Asthma (HealthDay)

SATURDAY, Oct. 8 (HealthDay News) -- Symptoms of asthma can be worsened by a cold or the flu, creating a potentially dangerous situation for children, according to experts at Nationwide Children's Hospital in Columbus, Ohio.

In fact, 30 percent of kids who are admitted to the hospital with the flu have asthma, putting them at risk for also developing pneumonia, Dr. Beth Allen, a physician of pulmonary medicine, said in a hospital news release.

"All it takes is one trigger -- a common cold, a change in the weather, allergens that kids are exposed to, cigarette smoke -- any of those things might trigger already irritated airways to become even more agitated," said Allen, who is also a faculty member at Ohio State University College of Medicine.

"Actually, colds are the number one thing that land kids with asthma in the hospital. They'll come down with a cold, start having a cough on day two, and by day three, they're pretty sick and can experience a severe asthma flare-up," she said.

There's a surge in the number of children who visit the emergency room during cold and flu season at Nationwide Children's Hospital, experts there pointed out.

"We suspect that this spike is due to a variety of factors," explained Allen. "During the summer, asthma tends to be less severe, and some families may not always regularly use controller therapies for their children. But with allergens that come into play during the fall, the weather changing, and kids catching more colds as they're back in the classroom, it all combines for a perfect storm of asthma flare-ups."

To reduce the number of asthmatic kids who end up in the emergency room, there are several steps parents can take to protect their children from severe flare-ups, including:

  • Children should get a flu shot to give their immune system a head start against any viruses.
  • Kids should get a check up in the fall to assess their condition ahead of flu season.
  • Children who are prescribed a daily asthma controller should be monitored to make sure they are taking their medication -- even when they are feeling well.
  • Parents should work with their child's doctor to develop a written asthma action plan to help prepare for different situations that could affect kids' health.

"Parents should be able to recognize the symptoms, know which medicines to use if they develop, and know when to call the doctor if that medicine is failing," added Allen. "Ideally, they should walk away from a doctor's visit with this all written down in what we call an asthma action plan."

More information

The U.S. National Institutes of Health provides more information on asthma in children.

Source: http://us.rd.yahoo.com/dailynews/rss/parenting/*http%3A//news.yahoo.com/s/hsn/20111009/hl_hsn/coldfluseasonposesrisksforkidswithasthma

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Pets and Your Newborn - OES Fine Art

All family members and extended family have waited months for the arrival of the newborn. As the day has come to deliver the brand new child house, there could also be issues as to how the 4-legged member of the family will take to the brand new arrival. This member of the family has not been indifferent to the changes occurring around them. The joy and pressure within the family could have lengthy been felt by the pet, as a result of pets are especially delicate to all emotional vibrations around them.

All of the sudden, the spare room smells like child powder and has unusual new furnishings inside. Their favourite lap has lengthy been unavailable to them, because it seems to have been taken on by a little bit creature, hidden underneath their grasp?s shirt. No, the 4-legged member of the family knows one thing is amiss, they usually perceive a big change is about to occur within the family household.

The preparations of readying your pet for the brand new child should be done months in advance. This might be able to be done within the form of proactive coaching for the brand new pet. The furnishings can not be a place for them to lounge upon. This is in case they decide to jump within the lap of a family member that is holding the brand new baby. Pet beds should be located in certain areas of the house, and the pet made to know that they will only chill out within the pet beds, or on the ground beside the furnishings, not on the furniture.

Child gates are to be positioned within the doorway of the brand new nursery, to point that this room is to not be visited for the canine member of the family. For the feline member of the family, the door ought to all the time be closed. Progressively because the family pet loses interest within the room, the door could be opened and the gate taken down. Truly, after a quick survey of the room by bodily roaming, the pet might decide it really does not attraction to them after all.

If kids have had free vary of the family previously, the family pet should be nicely accustomed to the presence of children. As for the presence of infants, that may pose a problem. Family or friends might help out in that respect. Ask a buddy or family member to record the sound of their own child crying. For those who enjoyed this text, you might also get pleasure from articles on hire a drupal developer, hire magento developer and How to get your ex back.

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Source: http://www.oesfineart.com/pets-and-your-newborn.html

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Navigating breast cancer - Health & Fitness - SunHerald.com

n American Cancer Society: can cer.org/cancer/breastcancer

Breast cancer overview, detailed guide, treatment decision tool, news, research and prevention. Includes local office locator.

n Breastcancer.org: breastcancer .org/community

Discussion boards, blog, chat rooms, ask-the-expert online conferences, email updates, booklets, recommended reading and links, medical expense tax deduction information.

n Centers for Disease Control and Prevention Breast Cancer and Mammography Information: apps .nccd.cdc.gov/cancercontacts/nbc cedp/contacts.asp

Includes locator link to places where you can get free or low-cost mammograms or Pap smears. 1-888-842-6355. Email cdcinfo@cdc.gov.

n FORCE (Facing Our Risk of Cancer Empowered): facingou rrisk.org

For women at risk of developing hereditary breast and/or ovarian cancer, information about finding medical and financial assistance and how to manage and live with hereditary risk factors. 866-824-RISK. Email info@facingourrisk.org.

n HealingWell.com: healingwell.com/breastcancer

Breast cancer resource center includes message forums, chat rooms, e-mail, books, videos, newsletters, news, information and a resource directory.

n National Cancer Institute: cancer .gov/cancertopics/types/breast

Treatment, prevention, causes, clinical trials, cancer literature, research, screening and testing. 1-800-4-CANCER. LiveHelp online chat available.

n Susan G. Komen for the Cure: komen.org

Comprehensive information and links to your local affiliate office.

n Free housecleaning for those with breast cancer: cleaningfora reason.org

This nationwide nonprofit coordinates free maid service for women who are undergoing treatment. Call 1-877-337-3348.

Source: http://www.sunherald.com/2011/10/05/3488103/navigating-breast-cancer.html

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Natural Hair Loss Treatment- Top Strategy For You Personally ...

Fact: There isn?t any sure-fire way to reduce most hair loss. Nevertheless, certain techniques that have been applied work with a number of people. Here are several strategies for Natural hair loss treatment. Massage therapy Rubbing the actual scalp generally speaking for a few moments a day may promote blood circulation to the follicles of hair plus slight situations induce several new hair growth in minor circumstances of non permanent hair loss. There are several electric massagers out there with an connection for scalp massaging at the same time. An persian technique called Chi Gong (obvious Chihuahua Kung) has been utilized to improve blood circulation towards the crown as well as face in addition. Aromatherapy A blend regarding six falls each of jasmine as well as these kinds of important natural skin oils in a very base of 4 ounces of both almond, soybean or perhaps sesame essential oil rubbed in the remaining hair and also permitted to sit for 20 mins has been utilized simply by scent counselors to induce the head. Saw palmetto extract Draw out There is a distinct link between your prostate along with hair loss males. Saw palmetto extract has been seen as to be effective in eliminating benign prostatic ailment simply by lowering levels of Dihydrotestosterone, which is a acknowledged source of androgenetic alopecia. Saw Palmetto acquire is an effective anti-androgen as well as demonstrates guarantee as an effective strategy for hair loss reduction. More information on Saw palmetto extract for Civilized Prostatic Hyperplasia Women on dental contraceptives or endocrine treatment must not take Saw palmetto extract. Nettle Main Acquire Nettles are generally abundant in nutritional vitamins Any along with H, many important nutrients and fats that may be good to your hair. Nettle Root Extract has been used properly in The european countries as an inhibitor regarding 5-alpha reductase for treating BPH. Rosemary oil and also Sage Peppermint and also sage are two herbal products who have proven gain traditionally when applied on the surface. Boil collectively throughout normal water rosemary, sage, pear leaf, nettle and burdock. After that stress the unfastened herbal products in the liquefied and employ your water to wash the head of hair daily. Jojoba oil Oil If you are likely to be able to be able to seborrhea, eczema, skin psoriasis, as well as dry skin, you could think about utilizing jojoba oil oil. Mexicans and southwestern Native American countries used jojoba gas traditionally for hundreds of years to market hair regrowth and the control over dry skin. Jojoba oil acrylic is ideal for hypoallergenic epidermis because it is a great moisturizer and imitates the actual scalp?s own natural oils. Natural aloe-vera Aloe Vera has been used through Indians, Indians and lots of inside Carribbean to advertise healthful hair preventing hair loss. Aloe?s will help the crown by healing it and evening out your ph level of the head although detoxification the actual pores. A typical preparing involving Natural aloe-vera carbamide peroxide gel having a tiny amount of grain inspiring seed oil as well as grape take advantage of is employed like a shampoo and possesses typically proven great benefit. Henna Henna is often a traditional Indian herb in which behaves as a natural restorative which is good for the upkeep associated with healthful hair. It will help mend the hair the whole length through mending and also plugging the cuticle, guarding locks towards the break point and lack of stand out. Polysorbate-80 Polysorbate-80 is surely an FDA approved surfactant that?s also accredited like a foods component. But not proven, Polysorbate-80 is said to get rid of tissue associated with DHT as well as cholesterol through the crown. Polysorbate-80 will be recommended simply by a number of natural practitioners just as one application for the crown roughly Quarter-hour before washing. Purifying as well as Cleansing Purifying should be an important part of your current strategy to keep up and expand head of hair. Several head connected illnesses tend to be immediately the result of toxemia, whilst poisons in the body adversely impacting your body?s methods in a roundabout way have an effect on other concerns. Cleaning can be carried out through common indicates regularly and also sometimes through enema or perhaps colonic colonic irrigation. Much more remedies for detox Ispaghula husk Dietary fiber is vital in order to cleansing, and most United states eating plans are generally bad in natural dietary fiber. Psyllium husk is often a bulking laxative agent you can use to safely transfer spend with the intestines. Psyllium husk is definitely an great material mainly because it lightly scrubs your walls of the colon to eliminate waste materials that is certainly trapped on the wall space.

Exercise Last but not least, although physical exercise really does practically nothing straight away to increase hair, most alternative experts recommend the idea. Exercising can enhance blood flow, the particular supply involving o2 to the tissue from the body, and also assist the digestion of food associated with meals, as much as possible that aid the healthiness of hair roots. Legal disclaimer: Counsel here is not introduced from the medical specialist. Every eating and medical preparing needs to be created underneath the direction of your family medical and also doctors and nurses. These details doesn?t change medical suggestions from your skilled medical doctor.
Drop by and see: What is the Treatment for Hair Loss?

Obtain vital info in the sphere of ? please make sure to study the publication. The times have come when concise info is really at your fingertips, use this possibility.


Source: http://www.healthuse.com/natural-hair-loss-treatment-top-strategy-for-you-personally.html

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Calif. pot dispensaries told to shut down

Federal prosecutors are cracking down on some pot dispensaries in California, warning the stores that they must shut down in 45 days or face criminal charges and confiscation of their property even if they are operating legally under the state's 15-year-old medical marijuana law.

In an escalation of the ongoing conflict between the U.S. government and the nation's burgeoning medical marijuana industry, at least 16 pot shops or their landlords received letters this week stating they are violating federal drug laws, even though medical marijuana is legal in California. The state's four U.S. attorneys were scheduled Friday to announce a broader coordinated crackdown.

Their offices refused Thursday to confirm the closure orders. The Associated Press obtained copies of the letters that a prosecutor sent to at least 12 San Diego dispensaries. They state that federal law "takes precedence over state law and applies regardless of the particular uses for which a dispensary is selling and distributing marijuana."

IRS ruling strikes fear in medical marijuana industry
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"Under United States law, a dispensary's operations involving sales and distribution of marijuana are illegal and subject to criminal prosecution and civil enforcement actions," according to the letters signed by U.S. Attorney Laura Duffy in San Diego. "Real and personal property involved in such operations are subject to seizure by and forfeiture to the United States ... regardless of the purported purpose of the dispensary."

The move comes a little more than two months after the Obama administration toughened its stand on medical marijuana. For two years before that, federal officials had indicated they would not move aggressively against dispensaries in compliance with laws in the 16 states where pot is legal for people with doctors' recommendations.

The Department of Justice issued a policy memo to federal prosecutors in late June stating that marijuana dispensaries and licensed growers in states with medical marijuana laws could face prosecution for violating federal drug and money-laundering laws. The effort to shutter California dispensaries appeared to be the most far-reaching effort so far to put that guidance into action.

"This really shouldn't come as a surprise to anyone. The administration is simply making good on multiple threats issued since President Obama took office," said Kevin Sabet, a former adviser to the president's drug czar and a fellow at the University of Pennsylvania's Center for Substance Abuse Solutions. "The challenge is to balance the scarcity of law enforcement resources and the sanctity of this country's medication approval process. It seems like the administration is simply making good on multiple statements made previously to appropriately strike that balance."

Greg Anton, a lawyer who represents dispensary Marin Alliance for Medical Marijuana, said its landlord received an "extremely threatening" letter Wednesday invoking a federal law that imposes additional penalties for selling drugs within 1,000 feet of schools, parks and playgrounds.

The landlord was ordered to evict the 14-year-old pot club or risk imprisonment, plus forfeiture of the property and all the rent he has collected while the dispensary has been in business, Anton said.

Marin Alliance's founder "has been paying state and federal taxes for 14 years, and they have cashed all the checks," he said. "All I hear from Obama is whining about his budget, but he has money to do this which will actually reduce revenues."

Kris Hermes, a spokesman for the medical marijuana advocacy group Americans for Safe Access, said the warnings are part of what appears to be an attempt by the Obama administration to curb medical marijuana on multiple fronts and through multiple agencies. A series of dispensary raids in Montana, for example, involved agents from not only the FBI and U.S. Drug Enforcement Agency, but the Internal Revenue Service and Environmental Protection Agency.

Going after property owners is not a new tactic though, Hermes said. Five years ago, the Department of Justice under President George W. Bush made similar threats to about 300 Los Angeles-area landlords who were renting space to medical marijuana outlets, some of whom were eventually evicted or closed their doors voluntarily, he said.

"It did have an impact. However, the federal government never acted on its threats, never prosecuted anybody, never even went to court to begin prosecutions," Hermes said. "By and large, they were empty threats, but they relied on them and the cost of postage to shut down as many facilities as they could without having to engage in criminal enforcement activity."

Besides the dozen dispensaries in San Diego and the one in Marin County, at least three shops in San Francisco already have received closure notices, said Dale Gieringer, director of the California chapter of the National Organization for the Reform of Marijuana Laws.

The San Diego medical marijuana outlets put on notice were the same 12 that city officials sued last month for operating illegally, after activists there threatened to force an election on a zoning plan adopted to regulate the city's fast-growing medical marijuana industry, City Attorney Jan Goldsmith said. A judge on Wednesday ordered nine of the targeted shops to close, while the other three shut down voluntarily, Goldsmith said.

Duffy, the U.S. attorney for far Southern California, planned to issue warning letters to property owners and all of the 180 or so dispensaries that have proliferated in San Diego in the absence of compromise regulations, according to Goldsmith.

"The real power is with the federal government," he said. "They have the asset forfeiture, and that means either the federal government will own a lot of property or these landlords will evict a lot of dispensaries."

Source: http://www.msnbc.msn.com/id/44806723/ns/us_news-crime_and_courts/

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Farewell to a Tech Titan ? The Blogs at HowStuffWorks

by Jonathan Strickland |

The news about Steve Jobs passing away is taking the Web by storm. That?s only fitting considering Jobs? impact on technology. Chris and I have recorded two TechStuff episodes about Steve Jobs. We could probably record two dozen and only scratch the surface of what Jobs accomplished.

I?ll just summarize a handful of those accomplishments here since tributes, editorials and memorials are springing up everywhere. Jobs was instrumental in ushering in the era of personal computers. He was also a master at spotting technology that hadn?t met its potential. He didn?t invent the computer mouse, the graphical user interface, the mp3 player, the smartphone or the tablet. But he was able to take those ideas, modify them, apply an unparalleled aesthetic approach and present it to consumers in a way that just made sense.

From a personal standpoint, I have a lot of reasons to thank Steve Jobs for his work. The first computer I really enjoyed using was an Apple IIe. Without that computer, I might not have become interested in technology at all. I might have focused on some other interest and followed a completely different path.

My love of tech is one of the main reasons I am a writer at HowStuffWorks.com. It?s also why I?m the co-host of TechStuff. And without Jobs? contributions to the way we use mp3 players, podcasts might not be nearly as popular. It?s not a stretch to say I have a show because Steve Jobs made it possible.

I could even go so far as to say without Steve Jobs? contributions, I wouldn?t have met my wife. I don?t share this story often ? I met my wife online. This was back in the days when the World Wide Web hadn?t even caught on yet. I was an early adopter because of my love for computers. Would I have been online so early if I hadn?t become a computer fan back when I was a little kid? I can?t say for sure.

I can say that Steve Jobs was a remarkable man. He was ambitious, driven, intelligent, charismatic and stubborn. From all I?ve heard, he wasn?t the easiest boss to work for but he was dedicated to excellence.

Thanks, Steve. You did an amazing job.

Tags: Apple, personal computers, smartphones, Steve Jobs

Source: http://blogs.howstuffworks.com/2011/10/05/farewell-to-a-tech-titan/

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Dictate your Finances with Professional Car Loans Advice | Travel ...

It is currently incredibly easy before to take out a finance to increase your financial plans. Actually there are so many merchandise on the market the decision can be a little overwhelming. It is just a great idea to seek professional car loan package advice before you sign up to any deals. Understanding the market and understanding what to consider are essential to finding the best deals.

Where you can get Professional Car Loans Advice

There are a number of how to obtain professional auto loan advice:

- Lenders ? you can go right to the lender for more information opony zimowe about the products they provide. Lenders are going to have experienced sales people working for them who definitely are able to make it easier to work out which type of auto loan is best for your requirements. Having said that it is important to remember that these agents is going to be thinking about selling you their items. What this means is the information they give are going to be influenced by their sales targets to a point.

- Independent Financial Advisors ? such a advisor just isn?t tied to any single lender or product. This means they could offer you more objective suggestions about the types of auto finance accessible. Getting professional car lease advice from a completely independent advisor could be an extremely practical way of creating sure you get the very best loan for your circumstances.

- Online Advisors ? one of the easiest and fastest ways to get professional auto loan advice is to go online. There are several great websites available that could offer you many useful details of car loans. They can help you find out what loans are available and those could suit your needs best. This online advice is free and available 24/7. You will additionally have the capacity to contact specialist advisors directly by email and telephone if you have any more questions.

Benefits of Professional Loan Package Advice

A car loan is usually a big financial responsibility. This assists to afford your next car and can need be managed carefully and avoid any poverty. One of the extremely critical factors is to try and get the right loan for the circumstances. You want a loan that you?ll be able to repay without stretching your financial allowance. One of the biggest mistakes folk make when putting off loans is that they borrow too much. What this means is they have difficulty to satisfy the work out payments and can then fall behind.

Another typical problem is the failure to shop around for the very best deals. You could put away a lot of currency through time to take a look at the actual market. A highly trained car loan advisor can assist you to observe a range of products and see what type provides you with the best bargain.

This entry was posted in Uncategorized and tagged Car loan. Bookmark the permalink.

Source: http://elkhornpress.com/dictate-your-finances-with-professional-car-loans-advice

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Euro bailout fund size could be boosted in October (AP)

LUXEMBOURG ? Eurozone leaders will likely boost the firepower of their bailout fund at a summit later this month, Belgium's finance minister said Tuesday, as a push to impose larger losses on Greece's private creditors appeared to be gaining more steam.

Both moves form part of a broader overhaul of the currency union's crisis strategy as it becomes obvious that Greece will not be able to repay its massive debts ? some 160 percent of economic output ? in full, despite billions of euros on rescue loans.

But before the eurozone can take more stringent measures on Greece, they have to build up safety nets for weak banks and other struggling economies, such as Italy and Spain.

The slow progress on solving the crisis, which has dragged on for almost two years, is weighing on global markets and investors continued to sell off shares and the euro after ministers late Monday delayed a decision on paying out a crucial aid installment until the end of the month.

Greece has said that without the euro8 billion slice of its first euro110 billion bailout it would start running out of money by mid-October. Eurogroup chairman Jean-Claude Juncker insisted that Athens could continue paying its bills as long as it gets the money in November.

Although the ministers, who were meeting in Luxembourg Monday and Tuesday, want to keep pressure on Athens to speed up reforms and privatizations, there is little doubt that Greece will eventually receive the money ? if only to buy time until a broader solution has been found.

A key part of that will be increasing the firepower of the eurozone's bailout fund, the euro440 billion ($586 billion) European Financial Stability Facility.

In the summer, leaders agreed to boost the powers of the bailout fund by allowing it to buy government bonds and recapitalize banks. Slovakia is expected to be the last eurozone state to vote on that move, later this month.

But to back up the new powers, most economists agree the fund needs to be larger. Because states are reluctant to increase their financial commitments, ministers are now looking at complicated technical schemes to leverage the fund, possiblly by allowing it to guarantee bond issues of struggling countries like Italy and Spain.

Didier Reynders, the finance minister for Belgium ? which has traditionally opposed any losses on banks and other private investors in Greek bonds ? also appeared to be scaling back his resistance.

Asked whether he believed writedowns on Greek bonds needed to go beyond the 21 percent tentatively agreed in July, the minister said "we'll see," adding that first all eurozone parliaments needed to sign off on changes to the bailout fund. Those changes will give the EFSF new tools to intervene preemptively if market pressures increase on a particular country and crucially provide loans to recapitalize banks.

__

Sarah DiLorenzo contributed to this story.

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/ap/20111004/ap_on_bi_ge/eu_europe_financial_crisis

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Manufacturing Deduction Offers Significant Benefits to Construction ...

The deduction for income attributable to domestic production activities, often referred to as the ?manufacturing deduction,? originally enacted as part of the American Jobs Creation Act of 2004 is now old news. What you may not be aware of is that, beginning in 2010 tax years, the deduction is now equal to nine percent of a taxpayer?s ?qualified production activities income? (or ?QPAI?).

While coverage of the law has focused only on its application to manufacturers, the law actually refers to ?producers? not ?manufacturers.? In fact, construction contractors actually qualify as ?producers? under the law, which can mean significant tax savings. For a general contractor engaged in the construction of a commercial building on land owned by their customer, a profit of $500,000 on the project could mean a deduction of $45,000 before allocating indirect costs to the project or applying other limitations.

In general, QPAI is equal to domestic production gross receipts reduced by the sum of the costs of goods sold that are allocable to such receipts; other deductions, expenses or losses that are directly allocable to such receipts; and a proper share of other deductions, expenses and losses that are not directly allocable to such receipts or another class of income. The deduction is limited to 50 percent of the wages paid (as reported on Forms W-2) during the tax year, and cannot be greater than the taxpayer?s taxable income for the year. If you are thinking that this sounds like a cost accounting nightmare, you are correct ? but the tax savings could be well worth the trouble for many contractors.

How Do I Qualify?
To qualify, the taxpayer performing the construction must be engaged in a trade or business that is considered construction. Generally, construction will qualify if it includes activities directly related to the erection or substantial renovation of residential and commercial buildings and infrastructure. Infrastructure includes roads, power lines, water systems, railroad spurs, and communications facilities. Substantial renovation is defined as renovating a significant component or structural part of real property, such that the value of the property is materially increased, the useful life is substantially prolonged, or the property is adapted to a new use.

Revenue for construction services and labor, as well as receipts for materials and supplies consumed in the construction activity, will typically qualify as QPAI income. However, tangential services such as hauling trash and delivering materials do not qualify. Service contracts may qualify for the deduction, but only if the contractor manufactured, produced or extracted the material used in the service work. If the contractor installs parts or materials that were purchased, then the service work performed usually does not qualify for the domestic production deduction.

In some cases, subcontractors may also qualify for the deduction. For example, a roofing contractor installing the roof on a new building would qualify. But since the roofing contractor would not have produced the materials being installed, the gross profit from the resale of materials is not considered qualifying income. However, the profits attributable to the installation services would qualify as QPAI. For roofing contractors and other contractors that perform services both on new and existing buildings, the contractor must determine if the contract will qualify. The replacement of a roof on an existing building that is not done in connection with a substantial renovation will not qualify for the deduction.

What If I Have a Net Operating Loss?
The manufacturing deduction is limited to taxable income and there is no provision to carry forward any unused deduction. If you have a Net Operating Loss (NOL) carryforward to a taxable year that completely offsets your taxable income, no deduction is allowed due to the taxable income limitation. However, the NOL carryover to subsequent years is increased by the amount of the deduction that is disallowed. The same is true for NOL carrybacks.

The manufacturing deduction offers an important opportunity to reduce your tax liability if you are a construction contractor. However, the provisions of the governing law contain complexities which can be difficult to apply. You should consult with your advisors to insure that you obtain the maximum benefit available to you.

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Related posts:

  1. New Small Business Jobs Act Offers Benefits to All Businesses
  2. The Pros and Cons of Income Tax Basis Accounting for Construction Contractors
  3. Proposed Sec. 460 Regulations Apply Significantly to Contractors

Source: http://blogs.cbh.com/recon/?p=1187

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