Everything Business Thread

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Re: Everything Business Thread

Postby RedLeader » Tue Sep 04, 2018 4:05 pm

Mountaineer Buc wrote:And paid $0.00 in Federal income taxes.

Legally.


Ya, I remember Trump saying the same thing not too long ago... however,

Apparently per CNN at the time:

Amazon collects sales tax in every state that charges one and remits it to the states -- and that's virtually every state Years ago, when Amazon had few warehouses, it was able to get a competitive advantage by not charging sales tax. When retailers ship goods to states where they don't have a physical presence, they do not have to charge sales tax.

But Amazon has been adding to its national network of distribution centers, and last year it announced it would start charging sales tax in every state, whether it has a physical presence there or not.

Amazon also pays local property taxes on its distribution centers as well as on the Whole Foods stores it purchased last year.

The company has not disclosed how much its customers pay in sales taxes, but it is considerable. Its North American sales came to $106 billion last year, suggesting that it collects billions in sales taxes for various states...

So theres that.
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Re: Everything Business Thread

Postby Zarniwoop » Tue Sep 04, 2018 4:11 pm

All our taxes should be a flat tax without deductions ... this stuff would get cleared up quick
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Re: Everything Business Thread

Postby Buc2 » Wed Sep 05, 2018 7:50 am

RedLeader wrote:
Mountaineer Buc wrote:And paid $0.00 in Federal income taxes.

Legally.


Ya, I remember Trump saying the same thing not too long ago... however,

Apparently per CNN at the time:

Amazon collects sales tax in every state that charges one and remits it to the states -- and that's virtually every state Years ago, when Amazon had few warehouses, it was able to get a competitive advantage by not charging sales tax. When retailers ship goods to states where they don't have a physical presence, they do not have to charge sales tax.

But Amazon has been adding to its national network of distribution centers, and last year it announced it would start charging sales tax in every state, whether it has a physical presence there or not.

Amazon also pays local property taxes on its distribution centers as well as on the Whole Foods stores it purchased last year.

The company has not disclosed how much its customers pay in sales taxes, but it is considerable. Its North American sales came to $106 billion last year, suggesting that it collects billions in sales taxes for various states...

So theres that.

They are just getting ahead of the curve. With the SCOTUS decision in favor of South Dakota in the South Dakota vs Wayfair case, all states may now start requiring out-of-state companies to collect & remit sales tax even if they have no physical presence in the state. I have already received notifications from the states of NC & TN that they are now going to follow SD's lead and require all companies collect & remit sales tax to their state. They usually put in some minimums, however. For example, TN says that if your sales are under $500K per year, out-of-state companies do not have to collect & remit TN sales tax provided they don't have nexus with the state.

Oh...and it is NOT just online retailers like a lot of the headlines make it seem. It applies to any "remote" seller.
Last edited by Buc2 on Wed Sep 05, 2018 7:54 am, edited 1 time in total.
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Re: Everything Business Thread

Postby Zarniwoop » Wed Sep 05, 2018 7:53 am

Buc2 - in my intro to business class today and Friday I have to cover a chapter on Acctg ... why don’t you come do it for me!!!
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Re: Everything Business Thread

Postby Buc2 » Wed Sep 05, 2018 7:54 am

Zarniwoop wrote:Buc2 - in my intro to business class today and Friday I have to cover a chapter on Acctg ... why don’t you come do it for me!!!

Ha! I think I'm busy that day. :D
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Re: Everything Business Thread

Postby Buc2 » Wed Sep 05, 2018 7:57 am

This story might be equally at home in the Education thread. We've had this discussion numerous times...college IS NOT the end all, be all. The trades have become very competitive in salary & benefits. Trade schools need to become a serious option like they used to be.
Miami is a city with an ever changing skyline. And those who make it happen — the plumbers, electricians, brick masons and carpenters — earn far above the local median: $55,000-75,000 a year with full benefits and a pension.

But as the economy barrels toward full employment, local contractors are struggling to find enough skilled workers to fuel the construction boom.

“We’re seeing it across the board. There are shortages in every trade,” said Peter Dyga, president of the South Florida-based Florida East Coast Chapter of Associated Builders and Contractors, a non-profit trade organization comprised of several construction firms and contractors.

With 243,000 open jobs construction jobs nationwide, according to the Bureau of Labor Statistics — and more than 500 listed by local ABC members — South Florida has become a worker’s market, said Peggy Marker, president of Fort Lauderdale-based Marker Construction, “the employees are in a position where they are interviewing us as much as we are interviewing them.”
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Re: Everything Business Thread

Postby Zarniwoop » Wed Sep 05, 2018 7:57 am

I’ll be honest I hate teaching that chapter. I can make the Finance chapter fun for the students but I struggle with the Acctg one
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Re: Everything Business Thread

Postby Buc2 » Wed Sep 05, 2018 8:00 am

Zarniwoop wrote:I’ll be honest I hate teaching that chapter. I can make the Finance chapter fun for the students but I struggle with the Acctg one

You need to work on that. :D
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Re: Everything Business Thread

Postby Zarniwoop » Wed Sep 05, 2018 8:11 am

Buc2 wrote:This story might be equally at home in the Education thread. We've had this discussion numerous times...college IS NOT the end all, be all. The trades have become very competitive in salary & benefits. Trade schools need to become a serious option like they used to be.
Miami is a city with an ever changing skyline. And those who make it happen — the plumbers, electricians, brick masons and carpenters — earn far above the local median: $55,000-75,000 a year with full benefits and a pension.

But as the economy barrels toward full employment, local contractors are struggling to find enough skilled workers to fuel the construction boom.

“We’re seeing it across the board. There are shortages in every trade,” said Peter Dyga, president of the South Florida-based Florida East Coast Chapter of Associated Builders and Contractors, a non-profit trade organization comprised of several construction firms and contractors.

With 243,000 open jobs construction jobs nationwide, according to the Bureau of Labor Statistics — and more than 500 listed by local ABC members — South Florida has become a worker’s market, said Peggy Marker, president of Fort Lauderdale-based Marker Construction, “the employees are in a position where they are interviewing us as much as we are interviewing them.”



One of the guys I ride dirtbikes with own his own HVAC company...they do commercial not too much residential. Techs on his crew earn $35.00/hr+. With overtime, he said the vast majority make over $100K. Apprentices even earn $20.00/hr plus overtime.
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Re: Everything Business Thread

Postby Rocker » Wed Sep 05, 2018 8:35 am

Zarniwoop wrote:

One of the guys I ride dirtbikes with own his own HVAC company...they do commercial not too much residential. Techs on his crew earn $35.00/hr+. With overtime, he said the vast majority make over $100K. Apprentices even earn $20.00/hr plus overtime.



I've been pounding this table for years; but few, if any, ever want to have a real discussion about it.
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Re: Everything Business Thread

Postby Mountaineer Buc » Wed Sep 05, 2018 8:38 am

Zarniwoop wrote:I’ll be honest I hate teaching that chapter. I can make the Finance chapter fun for the students but I struggle with the Acctg one

Your business students don't take principles of accounting? I'm kind of surprised.

Not that they need to know all the debits and credits, but they should at least go far enough down that rabbit hole to know they will need an accountant. What I took away from business law was that I was going to need a lawyer as a business owner.

My boss cheated on that and married a lawyer. Clever bastard.
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Re: Everything Business Thread

Postby Zarniwoop » Wed Sep 05, 2018 8:40 am

Mountaineer Buc wrote:
Zarniwoop wrote:I’ll be honest I hate teaching that chapter. I can make the Finance chapter fun for the students but I struggle with the Acctg one

Your business students don't take principles of accounting? I'm kind of surprised.

Not that they need to know all the debits and credits, but they should at least go far enough down that rabbit hole to know they will need an accountant. What I took away from business law was that I was going to need a lawyer as a business owner.

My boss cheated on that and married a lawyer. Clever bastard.



This particular course is an introduction to business for freshman. It's basically one chapter on each function within business.

But to the larger point, all business majors have to take two accounting courses at my school -- financial (freshman level) and managerial (junior/senior).
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Re: Everything Business Thread

Postby Mountaineer Buc » Wed Sep 05, 2018 8:45 am

Zarniwoop wrote:
Mountaineer Buc wrote:Your business students don't take principles of accounting? I'm kind of surprised.

Not that they need to know all the debits and credits, but they should at least go far enough down that rabbit hole to know they will need an accountant. What I took away from business law was that I was going to need a lawyer as a business owner.

My boss cheated on that and married a lawyer. Clever bastard.



This particular course is an introduction to business for freshman. It's basically one chapter on each function within business.

But to the larger point, all business majors have to take two accounting courses at my school -- financial (freshman level) and managerial (junior/senior).

That how I did it as an undergrad. The Bidness majors all had to take Principles 1 and 2 and the big bottleneck for the whole department was cost accounting. Management and Marketing majors hated that one with a passion.

Intro to business was the first college class I ever had. Loved it.
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Re: Everything Business Thread

Postby mdb1958 » Wed Sep 05, 2018 9:38 am

Mountaineer Buc wrote:
Zarniwoop wrote:

This particular course is an introduction to business for freshman. It's basically one chapter on each function within business.

But to the larger point, all business majors have to take two accounting courses at my school -- financial (freshman level) and managerial (junior/senior).

That how I did it as an undergrad. The Bidness majors all had to take Principles 1 and 2 and the big bottleneck for the whole department was cost accounting. Management and Marketing majors hated that one with a passion.

Intro to business was the first college class I ever had. Loved it.


And they taught you to wanna lot of money for as little as possible with as much free stuff as possible???

But the real clicker is not just you - but everybody...


#brainnotwiredright
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Re: Everything Business Thread

Postby Mountaineer Buc » Wed Sep 05, 2018 9:58 am

mdb1958 wrote:
Mountaineer Buc wrote:That how I did it as an undergrad. The Bidness majors all had to take Principles 1 and 2 and the big bottleneck for the whole department was cost accounting. Management and Marketing majors hated that one with a passion.

Intro to business was the first college class I ever had. Loved it.


And they taught you to wanna lot of money for as little as possible with as much free stuff as possible???

But the real clicker is not just you - but everybody...


#brainnotwiredright

You got me.
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Re: Everything Business Thread

Postby mdb1958 » Wed Sep 05, 2018 10:37 am

Seriously dude, I want you to get yourself, time to own the flute you've been playing.
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Re: Everything Business Thread

Postby mdb1958 » Thu Sep 13, 2018 6:08 am

Sure hope my portfolio goes up again! 2011 and 2015 really killed me.

Whats my chances?
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Re: Everything Business Thread

Postby bucfanclw » Thu Sep 13, 2018 7:17 am

mdb1958 wrote:Sure hope my portfolio goes up again! 2011 and 2015 really killed me.

Whats my chances?

Having absolutely no idea what is in your portfolio, I'm going to guess that it skyrockets and you should sink every penny you have into it.
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Re: Everything Business Thread

Postby mdb1958 » Thu Sep 13, 2018 8:08 am

bucfanclw wrote:
mdb1958 wrote:Sure hope my portfolio goes up again! 2011 and 2015 really killed me.

Whats my chances?

Having absolutely no idea what is in your portfolio, I'm going to guess that it skyrockets and you should sink every penny you have into it.



Havnt put any in it since 2013, things would be quite brighter had I been able to max out the last five years.
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Re: Everything Business Thread

Postby Mountaineer Buc » Thu Sep 13, 2018 8:50 am

mdb1958 wrote:
bucfanclw wrote:Having absolutely no idea what is in your portfolio, I'm going to guess that it skyrockets and you should sink every penny you have into it.



Havnt put any in it since 2013, things would be quite brighter had I been able to max out the last five years.

Just keep in mind that if you have any intention of fully retiring prior to age 65, a sizeable portion of your nest egg will be spent paying for health insurance.

Even if you can get a real good deal on a plan for you and your spouse, you can expect to spend about $1,000 to $1,300 a month on that coverage so if you plan to coast for say 5 years until you are old enough for Medicare, you had better earmark $65,000 to $80,000 of your total portfolio for insurance.

...or you can work until you're 65.
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Re: Everything Business Thread

Postby mdb1958 » Thu Sep 13, 2018 9:35 am

Mountaineer Buc wrote:
mdb1958 wrote:

Havnt put any in it since 2013, things would be quite brighter had I been able to max out the last five years.

Just keep in mind that if you have any intention of fully retiring prior to age 65, a sizeable portion of your nest egg will be spent paying for health insurance.

Even if you can get a real good deal on a plan for you and your spouse, you can expect to spend about $1,000 to $1,300 a month on that coverage so if you plan to coast for say 5 years until you are old enough for Medicare, you had better earmark $65,000 to $80,000 of your total portfolio for insurance.

...or you can work until you're 65.



I retired 5 years ago.
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Re: Everything Business Thread

Postby Mountaineer Buc » Thu Sep 13, 2018 9:41 am

mdb1958 wrote:
Mountaineer Buc wrote:Just keep in mind that if you have any intention of fully retiring prior to age 65, a sizeable portion of your nest egg will be spent paying for health insurance.

Even if you can get a real good deal on a plan for you and your spouse, you can expect to spend about $1,000 to $1,300 a month on that coverage so if you plan to coast for say 5 years until you are old enough for Medicare, you had better earmark $65,000 to $80,000 of your total portfolio for insurance.

...or you can work until you're 65.



I retired 5 years ago.

Good for you. I hope your nest egg outlives you. I mean that sincerely.

If you don't mind my asking, are you paying for Health insurance or have you made it to Medicare?
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Re: Everything Business Thread

Postby mdb1958 » Thu Sep 13, 2018 10:03 am

Mountaineer Buc wrote:
mdb1958 wrote:

I retired 5 years ago.

Good for you. I hope your nest egg outlives you. I mean that sincerely.

If you don't mind my asking, are you paying for Health insurance or have you made it to Medicare?


No, that comes at 65. You can have quite a shock when you spend for 5 years without a check coming in, may as well cut a hole in your pocket. So I'll be dipping into it sooner than I wanted to.
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Re: Everything Business Thread

Postby Buc2 » Tue Sep 18, 2018 8:40 am

Buc2 wrote:You may be right and VISA won't budge. My guess is that they will...at least a little.

Looks like they budged.

Visa, Mastercard Reach $6.2 Billion Settlement on Swipe Fees
By Jennifer Surane
September 18, 2018, 6:37 AM EDT Updated on September 18, 2018, 9:05 AM EDT
> Amount is in line with funds set aside to cover the lawsuit
> Settlement marks progress in 13-year-old class action case

Visa Inc. and Mastercard Inc. agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants over card fees, the largest-ever class action settlement of an antitrust case.

The total is in line with sums the two companies previously set aside to cover the costs of the litigation, including $5.3 billion already held by the court and an additional $900 million reserved earlier this year, as the two sides drew closer to an agreement. They’ll pay between $5.54 billion and $6.24 billion, according to a filing Tuesday.

“After years of thoughtful negotiation, we are pleased to be able to reach this agreement and move forward in our partnership with merchants to provide consumers convenient, reliable, secure ways to pay,” Kelly Mahon Tullier, Visa’s general counsel, said in a statement.

As part of the payment, Visa and Mastercard will use shares owned by banks including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. The lawsuit is one of many flashpoints in the battle between retailers and financial firms over the $90 billion that U.S. merchants spend every year on swipe fees.

Mastercard shares rose 0.4 percent to $217.36 in early trading in New York on Tuesday, while Visa’s shares climbed 0.3 percent.

The dispute began in 2005, when Visa and Mastercard were still owned by banks. Merchants had accused them of violating antitrust laws by illegally inflating swipe fees, or interchange, that merchants pay on every purchase transaction and which banks use to fund consumers’ credit-card rewards. The two payments networks have since gone public -- Mastercard in 2006, and Visa in 2008 -- and their shares have soared.

This isn’t the first time a settlement has been reached in the case. In 2013, the parties struck a then-record $5.7 billion deal that was approved by U.S. District Judge John Gleeson, only to have a federal appeals court reject it three years later, ruling that a provision that barred merchants from suing over fees was unfair. The court also said that lawyers who represented retailers nationwide didn’t do enough to protect their interests.

Gleeson stepped down from the bench in 2016 and the case is now assigned to Judge Margo K. Brodie.

After tossing out the earlier settlement, the court divided the merchants’ claims into two separate classes, one that focused on monetary damages and the other on making changes to Visa and Mastercard’s business practices. Tuesday’s settlement is for the class focused on monetary damages.

The earlier settlement was once valued at $7.25 billion, but was reduced after many of the country’s largest retailers, including Starbucks Corp. and Lowe’s Cos., opted out. Those merchants will have to decide whether to do so again, a move that would reduce the settlement amount. The settlement will not be reduced by more than $700 million as a result of opt outs, according to Tuesday’s filing.

The case is In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, 05-md-01720, U.S. District Court, Eastern District of New York (Brooklyn).
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Re: Everything Business Thread

Postby Zarniwoop » Tue Sep 18, 2018 8:51 am

good update :drinkingcheers:


I hadn't thought about this since we talked about it
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Re: Everything Business Thread

Postby Zarniwoop » Tue Sep 25, 2018 8:31 am

In order to distance itself from its "divisive" founder, Papa John's is going with a name change...they are going to spend millions of dollars to redo all of their marketing and branding material...and they have settled on Papa Johns.
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Re: Everything Business Thread

Postby Buc2 » Tue Sep 25, 2018 9:18 am

wow :roll:
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Re: Everything Business Thread

Postby Zarniwoop » Wed Sep 26, 2018 7:50 am

What do you all feel about the following....I'm thinking of using it as discussion in one of my classes....

As we know GOOGLE pulled out of China in 2010 because they didn't agree with the incessant gov't demands placed on them. Well apparently they are trying to get back into the market with a search engine called Dragonfly. In order to do this, they will have to agree to set up a system that allows the gov't to monitor every single search of users, allow the gov't to get the location of every search, only show gov't approved websites, block some searches entirely (though the requests are forwarded to the gov't), etc. This will play a big role in what someone posted last week about the Government creating a social credit score for every person in China.

From an ethical perspective, do you think American companies should be creating such products/services?
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Re: Everything Business Thread

Postby Buc2 » Wed Sep 26, 2018 7:56 am

Zarniwoop wrote:What do you all feel about the following....I'm thinking of using it as discussion in one of my classes....

As we know GOOGLE pulled out of China in 2010 because they didn't agree with the incessant gov't demands placed on them. Well apparently they are trying to get back into the market with a search engine called Dragonfly. In order to do this, they will have to agree to set up a system that allows the gov't to monitor every single search of users, allow the gov't to get the location of every search, only show gov't approved websites, block some searches entirely (though the requests are forwarded to the gov't), etc. This will play a big role in what someone posted last week about the Government creating a social credit score for every person in China.

From an ethical perspective, do you think American companies should be creating such products/services?

Absolutely not. Not only is it unethical from an American POV, it sets a dangerous social precedent for Chinese citizens. I'm not going to go so far as to say Google can't do that, but I'd be extremely disappointed in their decision if they did and would blast them every chance I got on the Internet when I wasn't Googling something or using my gmail account to send some pics to a friend.
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Re: Everything Business Thread

Postby Zarniwoop » Wed Sep 26, 2018 8:08 am

Buc2 wrote:
Zarniwoop wrote:What do you all feel about the following....I'm thinking of using it as discussion in one of my classes....

As we know GOOGLE pulled out of China in 2010 because they didn't agree with the incessant gov't demands placed on them. Well apparently they are trying to get back into the market with a search engine called Dragonfly. In order to do this, they will have to agree to set up a system that allows the gov't to monitor every single search of users, allow the gov't to get the location of every search, only show gov't approved websites, block some searches entirely (though the requests are forwarded to the gov't), etc. This will play a big role in what someone posted last week about the Government creating a social credit score for every person in China.

From an ethical perspective, do you think American companies should be creating such products/services?

Absolutely not. Not only is it unethical from an American POV, it sets a dangerous social precedent for Chinese citizens. I'm not going to go so far as to say Google can't do that, but I'd be extremely disappointed in their decision if they did and would blast them every chance I got on the Internet when I wasn't Googling something or using my gmail account to send some pics to a friend.



Thanks...that's where I am. I certainly wouldn't take away their right to do this....but I think it would be a shitty thing to do.

To generalize it is a more complicated ethical question -- when US firms go overseas or have overseas partners (think Apple and FOXCON), what local practices should they adopt and what US practices should they adopt. For example, when it comes to human rights and working conditions, should they use US standards or the local standards (or a mix)? When it comes to pay and benefits, should they use US standards or local standards (or a mix)?

I find that I often answer one way for one topic, a different way for another.
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