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Tax Planning for Tough Times
But most seasoned company builders know that rapid growth comes at a price. Consider the painful experience of Tom and Julie Stewart, siblings who run SportSheets International Inc., a Costa Mesa, Calif., manufacturer of so-called adult novelties. A few years ago their company took off like wildfire. In the mid-to-late 1990s, sales grew by 30% to 50% a year. Profits also swelled in just the way the Stewarts had hoped. They gleefully reinvested every dime of the business's spare cash in growth activities. What a mistake. Sudden leaps in profits led to large tax liabilities, and Uncle Sam reared his ugly head. "We hadn't planned ahead for our tax bill," says Julie Stewart. As the pair scrambled to find ways to pay the IRS nearly $20,000, they were forced to put all nonessential expenditures on hold and rely on their personal credit cards to help pay company expenses. More>>
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Fitch Expects to Rate BA Credit Card Trust Class A (2008-1) BAseries Notes; Presale Issued
Fitch Ratings expects to rate BA Credit Card Trust, class A (2008-1) BAseries notes as follows: --$1,500,000,000 class A (2008-1) 'AAA'.
For more information see the BA Credit Card Trust, class A (2008-1) BAseries notes presale report, available to all investors on Fitch's corporate site, www.fitchratings.com.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
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Ending the War: Time for the Dems to Play Hardball
Taking a page from America's retailers, President Bush is getting a jump on the coming battle over Iraq war funding. On Monday, he added an additional $45.9 billion in supplemental war funding to the $150.5 billion he'd already requested, and then turned up the heat on Congress to sign off on the $196.4 billion before heading home for the holidays. Only 60 more browbeating days until Christmas! And you have to give Bush credit. Despite record-low approval ratings, he's unabashedly playing — and winning — the PR game on the war. By incrementally adding to his funding request, he made his ongoing plundering of our treasury to pursue his disastrous Iraq policy seem relatively modest. The headlines all focused on the $46 billion he's just added to the tab — not the $196 billion he's really after. More>>