The Business Finance Store Discusses Employee Wages at Small Businesses - Consumer Electronics Net The Business Finance Store Discusses Employee Wages at Small Businesses - Consumer Electronics Net

Sunday, June 10, 2012

The Business Finance Store Discusses Employee Wages at Small Businesses - Consumer Electronics Net

The Business Finance Store Discusses Employee Wages at Small Businesses - Consumer Electronics Net

 

June 10, 2012 --

Santa Ana, CA (PRWEB) June 10, 2012

According to professors at Yale and Fordham Universities, New York Governor Andrew Cuomo has the power to raise the state minimum wage, the Wall Street Journal reported. Employee compensation is more than just a political issue that elected officials deal with. Those that deal with the issue most directly are employers themselves. Determining a wage for an employee can be difficult; however, a few considerations can make the process easier. In the recent blog post How to Determine Employee Compensation, The Business Finance Store discusses some things to take into account when determining how much to pay an employee.

Compensation is a complex issue that should be given careful consideration. Determining the proper amount to offer can allow a small business to attract high-quality employees and keep your business running smoothly. Read more about how to manage a small business at The Business Finance Store Blog.

The Business Finance Store is a business financing and consulting firm that offers customized Business Financial Solutions. Seasoned professionals offer assistance in a variety of financial solutions to help small businesses succeed such as: Business Financial Solutions, Legal Solutions, and Accounting Solutions.



The staff at The Business Finance Store understands that starting and growing a business is an exciting time. They keep it exciting by taking care of some of the most difficult aspects, by providing legal advice, helping with vital responsibilities like accounting & bookkeeping, and by obtaining business finance. They can quickly and easily guide entrepreneurs through many different complicated processes and put them on the path to success.

For 10 years The Business Finance Store has been helping startups and other small businesses legally structure their companies, find the right franchises, get the funding they need, and achieve the American Dream of owning their own successful business. Since expanding nationwide in 2007, they have helped thousands of companies and have funded over $60 Million in business credit lines, not including SBA loans. The Business Finance Store sees limitless potential in the current climate, and looks forward to many strong years of growth to come. Take some time to review their services, and give them a call.

For more information, or a free, no-obligation analysis of your business needs, visit The Business Finance Store website: http://www.businessfinancestore.com. A member of their professional staff will contact you to discuss your business' short and long-term goals. Whatever you need, The Business Finance Store is there.

Read the full story at http://www.prweb.com/releases/2012/6/prweb9590171.htm.

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Donovan aide was unknown in Conn. politics - RealClearPolitics

Donovan aide was unknown in Conn. politics

Susan Haigh And John Christoffersen

Robert Braddock Jr. was unknown in Connecticut politics when he came to work on House Speaker Chris Donovan's congressional campaign, but full of promises that he was an "accomplished finance director" with a record of raising millions of dollars.

The 33-year-old Marine came on board last year when Donovan, a former union and community organizer of modest financial means, faced pressures to raise a lot of money to compete in the state's hottest contest _ the 5th House District race.

The U.S. House seat is one of only two in New England that does not involve an incumbent. The other is the House seat held by veteran lawmaker Barney Frank of Massachusetts, who has announced he is retiring from office.

Now Braddock is at the center of a campaign fundraising scandal, and Donovan's decision to hire him threatens to disrupt the ambitions of the Democrats' endorsed candidate and possibly give Republicans a chance to re-take control of the northwestern Connecticut district.

"I did sign off on hiring key campaign staff," Donovan said last week, several days after federal agents arrested Braddock on charges of conspiring with others to hide the source of $20,000 in campaign contributions. "If anyone is responsible for those decisions, it's me. And I regret each of those hires."

Braddock's attorney, Frank Riccio III, maintains his client is innocent. He points out that Braddock has no criminal record and served in the military. Braddock has not spoken publicly about the case.

Donovan has denied any knowledge of the alleged scheme, saying he only found out about the investigation when the FBI called him for an "out-of-the-blue interview." He said he was shocked to read the next day that Braddock had been arrested, saying he felt "punched in the gut."

Donovan acknowledged that fundraising is his least favorite part of running for Congress and that he's never heard of some of the more than 8,500 donors to his campaign.

When the charges came down, Donovan fired three staff members including Braddock and campaign manager and former legislative aide Joshua Nassi. The Hartford Courant, citing unnamed sources, identified Nassi as one of three alleged co-conspirators mentioned in a federal affidavit concerning Braddock's arrest.

Union supporter Leo Canty, who has worked on numerous state campaigns, said Donovan "is not the kind of guy that says `let's break the law to get the money.'"

But one of Donovan's GOP opponents criticizes him for apparently not knowing what was happening among his staff.

"Even if the facts reveal that the Speaker was completely unaware of what was taking place in his finance office, that fact speaks to the manner in which he's conducting his campaign and that's relevant to voters and to the process," said state Sen. Andrew Roraback, the Republicans' endorsed candidate in the 5th District primary.

Donovan's campaign won't comment on how Braddock was hired. Tom Swan, Donovan's new campaign manager, said the House Speaker felt pressure to raise money last year, trailing his two Democratic challengers in this Aug. 14 primary.

Donovan has raised $1 million for the primary race, with $640,000 in cash on hand, according to recent campaign filings; former state Rep. Elizabeth Esty has $1.2 million and $801,074 in cash; and Daniel Roberti has $1.1 million and $508,236 in cash.

"He got a later start," Swan said. "He's not wealthy as his opponents. So he had a bigger challenge getting into it ... Chris has always organized with limited means and we shouldn't expect this race to be any different. He was not born with a silver spoon in his mouth."

An online bio for a company Braddock worked with, Progressive Capital Strategies, describes Braddock as "politically savvy and exceptionally motivated," "an accomplished finance director and fundraising consultant" who raised "millions of dollars" to help Democratic House and Senate candidates in 2010.

The Associated Press confirmed Braddock served in the Marines from 1997 to 2001. He received the Kosovo Campaign Medal, awarded to those who participated in or were in direct support of the Kosovo operations.

The online bio said he graduated from Full Sail University, a for-profit school in Winter Park, Fla., that offers both online and on-campus classes in art, music and film. An apparent LinkedIn page claims he studied film and video production from 2001-2003, and worked in the Internet industry on a website being redesigned to focus on politics. The AP determined the website was a former porn site.

Braddock spent four months raising money for North Carolina Democratic congressional candidate Harry Taylor in 2008. "He did fine," Taylor told the AP. "He was a nice guy."

While the LinkedIn page describes Braddock as the "finance director" who "raised more money than any previous Democratic campaign in the district," Taylor said he didn't have a "finance director" and Braddock was essentially a clerk or administrative assistant who helped with fundraising efforts.

Braddock worked as a finance director for Atlanta mayoral candidate Mary Norwood in 2008 and 2009. Norwood said Braddock was part of a team that raised $2 million. She said he was reliable and did not cause her any concern.

Public court records online also show Braddock had a $22,018 "judgment/lien" filed against him by American Express in March 2009.

___

Associated Press researcher Jennifer Farrar in New York contributed to this report.



Money Hungry: Debt Collection Agencies in the US Industry Market Research Report Now Available from IBISWorld - YAHOO!

Before the recession, the drastic increase in US debt stimulated Debt Collection Agencies industry growth from 2003 to 2007. During this period, revenue rose as consumers funded spending through credit cards, mortgage financing and home equity loans. But after a rising tide of debt swamped the economy, collectability rates fell, canceling out the spike in debt-collection opportunities and hurting revenue. The economy is set to recover over the next five years, though, with improving debt recovery rates, declining unemployment and higher housing prices. As a result, debt collection agencies will experience renewed demand, resulting in modest revenue growth. For these reasons, industry research firm IBISWorld has added a report on the Debt Collection Agencies industry to its growing industry report collection.

Los Angeles, CA (PRWEB) June 10, 2012

The rising tide of US debt swamped the economy in 2008. As defaults escalated, credit markets froze and the recession ensued. Typically, the Debt Collection Agencies industry benefits from this scenario because the rise in default rates produces a spike in debt collection opportunities. But the depth of the recession produced another outcome, says IBISWorld industry analyst Eben Jose, “The increase in debt collection opportunities was offset by a fall in collectability rates, which is the percentage of delinquent accounts collected compared with the total value of outstanding delinquent debt.” Because fewer debtors were able to meet payments during the recession, industry revenue is expected to decline at an annualized rate of 1.1% in the five years to 2012 to $12.6 billion.

Before the recession, the drastic increase in US debt stimulated Debt Collection Agencies industry growth from 2003 to 2007. During this period, revenue rose at an annualized rate of 2.1% as consumers funded spending through credit cards, mortgage financing and home equity loans. “At the same time, banks and other institutions lowered lending standards in order to expand loan operations,” says Jose. “Default rates spiked significantly as the economy turned sour.” Credit lending institutions also outsourced debt collection services at higher rates to manage cash flow and operating costs. The industry remains highly fragmented, with a significant share of the industry comprised of sole proprietors and partnerships due to the industry's low barriers to entry. Market share concentration is expected to increase over the next five years as firms look to mergers and acquisitions for increased revenue, a trend continued from the past five years. The most notable acquisition occurred in 2007 when major company NCO Group Inc. acquired Outsourcing Solutions. Acquisition activity is common in a mature marketplace. Greater reliance on information technology and the ability to leverage economies of scale in business transactions is forecast to support future acquisition activity, increasing market concentration.

As the economy and credit market sector continue to recover, revenue is expected to grow in the five years to 2017. Debt recovery rates will improve as the unemployment rate declines and housing prices stabilize. Improving recovery rates will ensure positive returns on favorably priced debt portfolios purchased during the recession. Many debt collection companies took advantage of the marketplace's aversion to debt exposure during the recession by buying up debt at fire sale prices. Other important trends in the next five years will include consolidation of agencies, technology improvements and accounting changes. A rise in collections from legal entities, government institutions and healthcare establishments will also support growth. For more information, visit IBISWorld’s Debt Collection Agencies in the US industry report page.

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IBISWorld industry Report Key Topics

The Debt Collection Agencies industry includes businesses that pursue payments on debts that individuals and businesses owe. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. Other agencies purchase debt portfolios from creditors at deep discounts and then pursue outstanding balances for their own gain.

Industry Performance


Executive Summary


Key External Drivers


Current Performance


Industry Outlook


Industry Life Cycle


Products & Markets


Supply Chain


Products & Services


Major Markets


Globalization & Trade


Business Locations


Competitive Landscape


Market Share Concentration


Key Success Factors


Cost Structure Benchmarks


Barriers to Entry


Major Companies


Operating Conditions


Capital Intensity


Key Statistics


Industry Data


Annual Change


Key Ratios

About IBISWorld Inc.


Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Gavin Smith
IBISWorld
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Cebu City sues Finance department - Sun Star

By Elly T. Bolonos

Monday, June 11, 2012

CEBU CITY – The Cebu City Government filed a case against Finance Secretary Cesar Purisima at the Regional Trial Court (RTC) last Friday, questioning the validity of his two orders replacing Acting City Treasurer Ofelia Oliva.

Purisima’s Department Personnel Order No. 59-2012 designated Tessie Camarillo as officer-in-charge (OIC) of the City Treasurer’s Office (CTO) last February, while Order No. 198-2012 named Emma Villarete for the same position early this month.

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Mayor Michael Rama said he was dismayed when Purisima didn’t act on his motion for reconsideration on the first order, and issued another order designating Villarete.

In filing the petition for declaratory relief, the City Government asked the court to stop the new order that named Villarete in charge of the treasurer’s office.

It also asked the court to annul the two orders, saying that Purisima acted with grave abuse of discretion.

The City Government pointed out that in issuing the two orders, the Department of Finance (DOF), through Purisima, committed a “patently illegal, arbitrary and oppressive act.”

It cited DOF Personnel Order No. 305-2000, which states that the finance secretary has delegated to the Bureau of Local Government Finance (BLGF) the appointment of provincial, city, and municipal treasurers and their assistants, except for Metro Manila.

City Hall, through its lawyers, said that while the Local Government Code states the city treasurer shall be appointed by the finance secretary, he or she must choose from a list of three persons recommended by the mayor.

Camarillo was not among the people the mayor recommended to the BLGF-Central Visayas last year.

Candor

This was after Camarillo, who was the OIC then, admitted to reporters “that the proposed P11.81 annual budget for 2012 is impossible to achieve.”

Villarete was among the mayor’s nominees along with Junaita Monina Paires. But the City stressed that Purisima’s order was already superseded by another letter from Rama last Jan. 9, addressed to BLGF 7.

The letter expressed the mayor’s preference for Oliva because of her proven competence, diligence and track record in tax collection.

The treasurer must be someone in whom the mayor has full trust and confidence, the City said in its case.

“We will always have to do what we can do kay dili man na mahimo nang ing-ana nga style; kuwang sila sa paghuna-huna kay wa man gani matubag among (they have not thought this through and they haven’t even answered our) motion for reconsideration,” Rama said.

The mayor also advised Oliva to continue to function in her job because the order isn’t automatic and she cannot immediately leave her post.

Oliva said she leaves it all to the mayor, while waiting for instructions from the BLGF, her mother agency.

She refused to give a further statement because the case filed by the City Government against the finance secretary is already in court.

Aside from the DOF, the Office of the Solicitor General was also sent a copy of the petition signed by 10 Cebu City Hall lawyers. (Sun.Star Cebu)

Published in the Sun.Star Cebu newspaper on June 11, 2012.



Doubt clouds robust Spain bailout - Financial Times

June 10, 2012 6:34 pm



Personal Finance: High yields from some banks. Really. - Philadelphia Daily News

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Savers are suffering. A trip to the gas station, supermarket, or pharmacy can present gut-wrenching costs and leave people feeling vulnerable. Nest eggs are being eaten away at a brisk pace while the Federal Reserve keeps interest rates near ...

border clout still denied to Islamic banks - The Guardian

Commercial and Business Director

Liverpool, Chester | £50,000 + PRP of up to £50,000

FACT



Tchenguiz's finance director Ingham steps down - Daily Telegraph

Sources close to the brothers indicated that Mr Ingham, 59, was retiring, but would still work with the men on a consultancy basis.


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