Where is the Money Going?

1 to 16 of about 1413 News
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42 Civil Rights Groups Support Telecoms against Open Internet

Numerous civil rights groups have sided with the internet provider industry on the issue of net neutrality after getting lucrative partnerships and financial support from telecommunications companies. The Minority Media and Telecommunications Council (MMTC), a law firm for civil rights groups, has worked with many of the firms opposing common carrier status for the Internet. MMTC raised more than $1 million from telecom companies at fundraising luncheons from 2011 to 2013.   read more

Minor League Baseball Players Sue Major League Baseball over Low Pay

The typical minor league player earns somewhere between $3,000 and $7,500 a season, which can include spring training and fall instructional leagues, the plaintiffs contend. Compare that to MLB salaries, which averaged $3.3 million last year, with a minimum annual wage of $500,000 in 2014. The big difference is that MLB players are unionized, while their minor league counterparts have been prevented by the league from bargaining collectively.   read more

Hedge Funds Accused of Screwing Americans out of Billions of Dollars in Taxes

The two banks “used the options to build special accounts for their hedge fund clients in their own names and claimed they owned the assets when it was, in fact, the hedge fund clients that exercised full control of the assets.” The structure of the basket options also allowed the hedge funds to borrow up to $17 for every dollar in an account rather than the 50 cents on the dollar that broker-dealers are restricted to according to limits that go back to the 1930s.   read more

$23.6 Billion Jury Award in Smoking Case Unlikely to Survive Appeal

R.J. Reynolds Tobacco Company is expected to challenge the verdict that featured $23.6 billion in punitive damages. In addition to that sum, the jury granted compensatory damages totaling $16.9 million in the case brought by Cynthia Robinson, the widow of chain smoker Michael Johnson, who died 18 years ago of lung cancer at age 36.   read more

Federal Grand Jury Indicts FedEx for Conspiring to Deliver Illegal Drugs (No Officials Charged)

The 15-count indictment says that the company had been warned by the federal government at least six times that it was acting as a drug courier. The online pharmacies at issue were those that didn’t rely on prescriptions from physicians. Rather, they relied on an online questionnaire filled out by buyers without a doctor ever examining a patient. According to the indictment, the drugs shipped by FedEx included Ambien, Diazepam, Alprazolam (Xanax), and Clonazepam.   read more

Cyber Attack Insurance Market Expected to Double This Year

Last year, the U.S. insurance industry produced $1 billion in policies covering hacker attacks. By the end of 2014, the figure is expected to reach $2 billion. Despite the clear risks that hackers pose, companies aren’t making the decision lightly to buy the new kind of insurance, which can cost $20,000-$25,000 per $1 million in coverage.   read more

FDA Gives Research Grants to Members of Tobacco Advisory Committee

The FDA has come under scrutiny for allegedly playing favorites when it comes to giving out grants. Complaints have surfaced within the scientific community about FDA funding for research being conducted by members of the agency’s Tobacco Products Scientific Advisory Committee. In helping to support those efforts, the agency has chosen to reject “several projects deemed by an NIH panel to have greater scientific merit,” conducted by researchers not represented on the committee   read more

IRS Backs Off on Screening 80% of Tax-Exempt Charities

In the wake of congressional investigations into the agency’s work, the IRS now will only screen about 20% of all applicants requesting tax-exempt charitable status, even though concerns still exist about groups committing fraud and abusing the tax code for political purposes. The change will certainly make the workload easier at the IRS. An 80% reduction in reviews will translate into processing up to 50,000 fewer 501(c)(3) applications a year.   read more

Minimum Wage for Tipped Workers hasn’t Gone Up in 23 Years

When the tipped minimum was last raised, it was set at half the regular minimum of $4.25 an hour. But while the regular minimum has increased somewhat regularly, the tipped wage has not, thanks to efforts by the National Restaurant Association, a lobbying group for restaurant owners. Now tipped workers’ wage is only 29.4% of the regular minimum. If it had been raised to account for inflation alone, the tipped minimum would now be $3.72.   read more

FTC Sues Amazon for Games Bought by Children without Parental Consent

The Federal Trade Commission (FTC) this week sued the company for not providing parental consent barriers to keep kids from acquiring games, as well as digital coins, clothing, clues and other goods related to games purchased through Amazon’s app store.   read more

Improper Payments by Federal Government Drop…to $106 Billion a Year

Efforts in Washington to reduce the amount of federal tax dollars being improperly paid out is now down to only $100 billion annually, or so that’s how the Obama administration sees it. Officials are insisting the news is good, considering the total of improper payments has been going down since 2010, when they peaked at $121 billion. Such payments can consist of unemployment checks (to the employed), medical payments for elective procedures or tax breaks to those unqualified.   read more

Companies with Women CEOs Outperform those Led by Men

Fortune magazine reports that only 51 companies in the Fortune 1000 are led by female CEOs. Twenty-four of them run Fortune 500 businesses, which is an all-time high. No. 7 General Motors is the highest ranked Fortune 500 member with a woman running things: Mary Barra. Under her leadership, GM made $155 billion last year. Women aren’t seeing the benefit of their management prowess, however. Female CEOs made less than 80% of what male CEOs made in 2013.   read more

Selling Donated Blood is Big Business in U.S.

These days, a pint of blood can go for $180 to $300, depending on demand. These earnings get passed down to the institute’s top executives, who make six-figure salaries. Leading the team is OBI’s CEO, John Armitage, whose annual salary is $421,561.   read more

Immigration Service Awards New Contract to Background Check Company Charged with Fraud

US Investigations Services LLC (USIS) was sued by the Department of Justice for cutting corners while conducting investigations of people seeking clearance for sensitive government jobs. The firm also was embarrassed in two high-profile incidents last year when it was reported that USIS had performed the background checks for National Security Agency leaker Edward Snowden and Washington Navy Yard shooter Aaron Alexis.   read more

Defense Dept. Pays more per Unit for Prescription Drugs than Medicare and Medicaid

According to the GAO, the Pentagon spends an average of 99 cents per unit for a sample of 78 drugs (33 brand-name and 45 generic), while the same drugs cost 82 cents a unit when purchased by Medicare Part D and 62 cents by Medicaid.   read more

New Law Takes Effect Allowing IRS to Examine Bank Records of Americans Trying to Evade Taxes

A law taking effect this month forces foreign financial institutions to let the Internal Revenue Service (IRS) examine its records to ensure that U.S. citizens abroad are not hiding taxable income from the federal government. Before FATCA went into effect, the IRS depended on citizens to self-report their foreign income.   read more
1 to 16 of about 1413 News
1 2 3 ... 89 Next

Where is the Money Going?

1 to 16 of about 1413 News
1 2 3 ... 89 Next

42 Civil Rights Groups Support Telecoms against Open Internet

Numerous civil rights groups have sided with the internet provider industry on the issue of net neutrality after getting lucrative partnerships and financial support from telecommunications companies. The Minority Media and Telecommunications Council (MMTC), a law firm for civil rights groups, has worked with many of the firms opposing common carrier status for the Internet. MMTC raised more than $1 million from telecom companies at fundraising luncheons from 2011 to 2013.   read more

Minor League Baseball Players Sue Major League Baseball over Low Pay

The typical minor league player earns somewhere between $3,000 and $7,500 a season, which can include spring training and fall instructional leagues, the plaintiffs contend. Compare that to MLB salaries, which averaged $3.3 million last year, with a minimum annual wage of $500,000 in 2014. The big difference is that MLB players are unionized, while their minor league counterparts have been prevented by the league from bargaining collectively.   read more

Hedge Funds Accused of Screwing Americans out of Billions of Dollars in Taxes

The two banks “used the options to build special accounts for their hedge fund clients in their own names and claimed they owned the assets when it was, in fact, the hedge fund clients that exercised full control of the assets.” The structure of the basket options also allowed the hedge funds to borrow up to $17 for every dollar in an account rather than the 50 cents on the dollar that broker-dealers are restricted to according to limits that go back to the 1930s.   read more

$23.6 Billion Jury Award in Smoking Case Unlikely to Survive Appeal

R.J. Reynolds Tobacco Company is expected to challenge the verdict that featured $23.6 billion in punitive damages. In addition to that sum, the jury granted compensatory damages totaling $16.9 million in the case brought by Cynthia Robinson, the widow of chain smoker Michael Johnson, who died 18 years ago of lung cancer at age 36.   read more

Federal Grand Jury Indicts FedEx for Conspiring to Deliver Illegal Drugs (No Officials Charged)

The 15-count indictment says that the company had been warned by the federal government at least six times that it was acting as a drug courier. The online pharmacies at issue were those that didn’t rely on prescriptions from physicians. Rather, they relied on an online questionnaire filled out by buyers without a doctor ever examining a patient. According to the indictment, the drugs shipped by FedEx included Ambien, Diazepam, Alprazolam (Xanax), and Clonazepam.   read more

Cyber Attack Insurance Market Expected to Double This Year

Last year, the U.S. insurance industry produced $1 billion in policies covering hacker attacks. By the end of 2014, the figure is expected to reach $2 billion. Despite the clear risks that hackers pose, companies aren’t making the decision lightly to buy the new kind of insurance, which can cost $20,000-$25,000 per $1 million in coverage.   read more

FDA Gives Research Grants to Members of Tobacco Advisory Committee

The FDA has come under scrutiny for allegedly playing favorites when it comes to giving out grants. Complaints have surfaced within the scientific community about FDA funding for research being conducted by members of the agency’s Tobacco Products Scientific Advisory Committee. In helping to support those efforts, the agency has chosen to reject “several projects deemed by an NIH panel to have greater scientific merit,” conducted by researchers not represented on the committee   read more

IRS Backs Off on Screening 80% of Tax-Exempt Charities

In the wake of congressional investigations into the agency’s work, the IRS now will only screen about 20% of all applicants requesting tax-exempt charitable status, even though concerns still exist about groups committing fraud and abusing the tax code for political purposes. The change will certainly make the workload easier at the IRS. An 80% reduction in reviews will translate into processing up to 50,000 fewer 501(c)(3) applications a year.   read more

Minimum Wage for Tipped Workers hasn’t Gone Up in 23 Years

When the tipped minimum was last raised, it was set at half the regular minimum of $4.25 an hour. But while the regular minimum has increased somewhat regularly, the tipped wage has not, thanks to efforts by the National Restaurant Association, a lobbying group for restaurant owners. Now tipped workers’ wage is only 29.4% of the regular minimum. If it had been raised to account for inflation alone, the tipped minimum would now be $3.72.   read more

FTC Sues Amazon for Games Bought by Children without Parental Consent

The Federal Trade Commission (FTC) this week sued the company for not providing parental consent barriers to keep kids from acquiring games, as well as digital coins, clothing, clues and other goods related to games purchased through Amazon’s app store.   read more

Improper Payments by Federal Government Drop…to $106 Billion a Year

Efforts in Washington to reduce the amount of federal tax dollars being improperly paid out is now down to only $100 billion annually, or so that’s how the Obama administration sees it. Officials are insisting the news is good, considering the total of improper payments has been going down since 2010, when they peaked at $121 billion. Such payments can consist of unemployment checks (to the employed), medical payments for elective procedures or tax breaks to those unqualified.   read more

Companies with Women CEOs Outperform those Led by Men

Fortune magazine reports that only 51 companies in the Fortune 1000 are led by female CEOs. Twenty-four of them run Fortune 500 businesses, which is an all-time high. No. 7 General Motors is the highest ranked Fortune 500 member with a woman running things: Mary Barra. Under her leadership, GM made $155 billion last year. Women aren’t seeing the benefit of their management prowess, however. Female CEOs made less than 80% of what male CEOs made in 2013.   read more

Selling Donated Blood is Big Business in U.S.

These days, a pint of blood can go for $180 to $300, depending on demand. These earnings get passed down to the institute’s top executives, who make six-figure salaries. Leading the team is OBI’s CEO, John Armitage, whose annual salary is $421,561.   read more

Immigration Service Awards New Contract to Background Check Company Charged with Fraud

US Investigations Services LLC (USIS) was sued by the Department of Justice for cutting corners while conducting investigations of people seeking clearance for sensitive government jobs. The firm also was embarrassed in two high-profile incidents last year when it was reported that USIS had performed the background checks for National Security Agency leaker Edward Snowden and Washington Navy Yard shooter Aaron Alexis.   read more

Defense Dept. Pays more per Unit for Prescription Drugs than Medicare and Medicaid

According to the GAO, the Pentagon spends an average of 99 cents per unit for a sample of 78 drugs (33 brand-name and 45 generic), while the same drugs cost 82 cents a unit when purchased by Medicare Part D and 62 cents by Medicaid.   read more

New Law Takes Effect Allowing IRS to Examine Bank Records of Americans Trying to Evade Taxes

A law taking effect this month forces foreign financial institutions to let the Internal Revenue Service (IRS) examine its records to ensure that U.S. citizens abroad are not hiding taxable income from the federal government. Before FATCA went into effect, the IRS depended on citizens to self-report their foreign income.   read more
1 to 16 of about 1413 News
1 2 3 ... 89 Next