As night follows day, defenders of big government trotted out “Sesame Street’s” Big Bird as the poster child of President Trump’s terrible spending cuts.
The Daily Beast story on Trump’s budget proposal to cut taxpayer funding to the Corporation for Public Broadcasting features an ax-wielding man about to chop Big Bird’s head off. Politico has a story titled “Can Big Bird Survive Trump?” In a “Jimmy Kimmel Live!” segment mocking Trump’s budget, Donald Trump fires Big Bird.
These folks would do well to find a new mascot. Big Bird is big business, and doesn’t need taxpayer money to survive.
First, let’s take a look at Sesame Workshop, the nonprofit that produces “Sesame Street.”
Last year, Sesame Workshop had $121.6 million in revenues. Of that, $49.6 million came in distribution fees and royalties and $36.6 million in licensing of toys, games, clothing, food and such. In 2014, only 4% of its revenue came from government grants.
Despite being a taxpayer-supported nonprofit, Sesame Workshop pays its top executives fabulously well.
Washington DC, President Donald Trump this week nominated New Jersey native J. Christopher Giancarlo to serve as chairman of the Commodity Futures Trading Commission .The commission regulates the derivatives market, a part of Wall Street that has been criticized for helping spur the financial crisis of 2008.
Giancarlo, who grew up in north Jersey and lives in Haworth in Bergen County, has served as a commissioner on the board since 2014 an acting commissioner since January.
Giancarlo was born in Jersey City, New Jersey. He attended Skidmore College in Saratoga Springs, New York where he graduated Phi Beta Kappa with Government Department Honors. Mr. Giancarlo received his law degree from the Vanderbilt University School of Law where he was an associate research editor at the Vanderbilt Journal of Transnational Law and President of the Law School’s International Law Society. Mr. Giancarlo has been a member of the Bar of the State of New York since 1985
He was nominated by President Obama on August 1, 2013 and confirmed by unanimous consent of the U.S. Senate on June 3, 2014. On June 16, 2014, he was sworn in as a CFTC Commissioner for a term expiring in April 2019. Mr. Giancarlo was designated per seriatim as Acting Chairman of the Commission on January 20, 2017.
Before entering public service, Mr. Giancarlo served as the Executive Vice President of GFI Group Inc., a financial services firm. Prior to joining GFI, Mr. Giancarlo was Executive Vice President and U.S. Legal Counsel of Fenics Software and was a corporate partner in the New York law firm of Brown Raysman Millstein Felder & Steiner. Mr. Giancarlo joined Brown Raysman from Giancarlo & Gleiberman, a law practice founded by Mr. Giancarlo in 1992 following his return from several years in London with the international law firm of Curtis, Mallet-Prevost, Colt & Mosle.
Mr. Giancarlo was also a founding Co-Editor-in-Chief of eSecurities, Trading and Regulation on the Internet (Leader Publications). In addition, Mr. Giancarlo has testified three times before Congress regarding the implementation of the Dodd-Frank Act, and has written and spoken extensively on public policy, legal and other matters involving technology and the financial markets.
Fresh on the heels of being nominated by the White House Tuesday to be Chairman of the US Commodity Futures Trading Commission, J. Christopher Giancarlo spelled out plans to reorganize the agency and “right-size” its regulatory footprint.
“The overly prescriptive regulation of American derivative markets is a part and parcel of the over-regulation of the US economy that thwarts revival of American prosperity,” he said in a speech prepared for delivery at the International Futures Industry conference in Boca Raton, Florida, Wednesday.
To carry out one of President Donald Trump’s executive orders of regulatory reform, Giancarlo announced the launch of an agency-wide review of CFTC regulations and practices “to make them simpler, less burdensome and less costly,” and said the CFTC will seek public comment on that effort.
The regulatory reform initiative, dubbed Project KISS for “Keep It Simple Stupid” will be led by Mike Gill, Giancarlo’s chief of staff, who will serve as the “regulatory reform officer.”
“We’re actually now over-performing the rest of the country, and I would suggest to you that the reason that there is that lag is because New Jersey is still a very expensive place to work and do business, and if the legislature had been willing to do other tax cuts and other measures that I put and recommended on property taxes and income taxes, perhaps we’d be in even better shape and it would’ve happened even faster. But, we’re certainly better off than we were from 2001 to 2009, when there was zero net private-sector job growth during a time” Governor Chris Christie
By KATHERINE LANDERGAN
03/13/17 03:08 PM EDT
Gov. Chris Christie on Monday heralded the state’s fiscal health as new figures showed New Jersey last year experienced the largest spike in private sector job growth since 2000.
The Bureau of Labor Statistics reported the state gained 60,800 private sector jobs last year, meaning New Jersey recovered all of the jobs it lost during the recession, and then added another 65,000 jobs.
“This didn’t happen by accident,” Christie, a Republican, said at a press conference in Englewood Cliffs. “The tax cuts we put in place, holding the line on other taxes, the 2 percent property tax cap — all of these things are bearing fruit.”
Christie also said the state has shown strong gains in construction, the tourism industry, and the number of new businesses filings, and has seen a decline in foreclosures.
“It’s great news for the state and we should stop the drumbeat that somehow New Jersey is underperforming from a jobs perspective,” he said.
The facts speak for themselves once you get past the hysteria.
Do your homework: Each Wal-Mart superstore can employee several hundred (or more) employees, Save Jerseyans, depending upon its size. These stores provide employment opportunities and affordable goods particularly in areas where the population is struggling and/or lacks sufficient levels of education or skilled training. It’s a win-win for the local community and the overall economy.
Trenton, NJ ,Lt. Governor Kim Guadagno today attended the New Jersey Conference on Tourism to discuss the New Jersey Tourism Industry’s diverse attractions for all seasons and the improvements the industry has made over the last year.
New Jersey again set a record in 2016, with the tourism industry accounting for $44.1 billion in economic impact – an increase of more than 2.9 percent over the previous year. This was in part due to an increase in visitation to New Jersey, which increased for the seventh straight year. The number of visitors to New Jersey increased by 3.3 percent last year to 98 million.
“Over the last seven years, as the Lt. Governor and Secretary of State, I’ve traveled hundreds of thousands of miles across this great State seeing the amazing and diverse attractions we have to offer,” said Lt. Governor Guadagno. “So, it’s no surprise that the Travel and Tourism Industry had another year of increased growth across all seasons.”
In 2016, the tourism industry directly supported more than 321,231 jobs. When factoring in indirect impacts, more than a half million jobs – or nearly one in 10 of all New Jersey jobs – depended on tourism. The New Jersey Division of Travel and Tourism recently released promising numbers from the past year. In 2016, tourism in New Jersey generated $4.9 billion in state and local tax revenues. Without the tourism industry, New Jersey households would each need to pay $1,525 in order to maintain the current level of state and local government services.
To learn more about New Jersey Tourism, visit www.visitnj.org.
By Terence P. Jeffrey | March 9, 2017 | 9:36 AM EST
(CNSNews.com) – The United States has the highest top statutory corporate tax rate—39.1%–of any nation in the G20, according to a study released Wednesday by the Congressional Budget Office.
That rate is nearly twice as high as the 20-percent rate in Russia, which, along with Saudi Arabia and Turkey, has the lowest statutory corporate tax rate in the G20.
The U.S. won the top spot on the statutory-corporate-tax-rate list after Japan and Germany, which formerly ranked first and second, cut their rates.
“The United States made no change in federal corporate tax rates between 2003 and 2012,” said the CBO, “and by 2012, it had the highest top statutory rate in the G20.”
By Jonathan D. Salant | NJ Advance Media for NJ.com
on March 08, 2017 at 1:23 PM, updated March 08, 2017 at 4:43 PM
WASHINGTON — Emirates Airline, owned by the United Arab Emirates, is about to launch flights between Newark Liberty International Airport and Athens.
Members of the New Jersey and New York congressional delegations want to block them.
The reason? They say Emirates and two other non-union Middle Eastern airlines, Qatar Airways and Etihad Airways have gotten $50 billion in government subsidies in violation of the Open Skies agreements removing limits on international flights to and from the U.S.
“While we support expanding flight options and greater connectivity, we do not support subsidy-enabled flights that cost American jobs and could violate U.S. trade agreements,” a bipartisan group of 25 New Jersey and New York lawmakers wrote to President Donald Trump in advance of Emirates’ maiden flight on Saturday.
Technology companies have been a driving force behind the U.S. stock market’s recent record rally, and despite mounting evidence of stretched valuations the sector remains a top pick for investors expecting a wave of capital expenditures by U.S. corporations.
Corporate tax cuts and reduced regulations planned by President Donald Trump will give companies reason to spend more on cloud computing, factory automation and smart connectivity that will directly benefit Silicon Valley, many on Wall Street believe.
“The tax cuts are going to promote business investment across all industries, and the business investment is largely going to be in technology,” said Doug Cote, chief market strategist at Voya Investment Management in New York.
A New York labor union has exhausted its pension fund, leaving thousands of retirees at risk and sparking calls for a forensic audit.
Teamsters Local 707, which represents 4,000 retirees out of Long Island, became the first of several embattled Teamster locals funds to fully exhaust its money. The union was forced to turn over its pension fund to the Pension Benefit Guaranty Corporation (PBGC), an independent federal agency.
Several retirees discussed their distress with the New York Daily News. Tim Chmil spent 30 years as a trucker and deducted portions of every paycheck to cover the costs of a defined benefit pension. He has now seen that money dry up as the pension fund teetered toward insolvency.
“It’s a nightmare, it has just devastated all of our lives. I’ve gone from having $48,000 a year to less than half that,” Chmil told the Daily News.
Neither Local 707 President Kevin McCaffrey, nor the PBGC returned requests for comment
About a month ago, Starbucks CEO Howard Schultz decided to ‘take a stand’ in defiance of Trump’s immigration executive order and penned a message to the world vowing, among other things, to hire 10,000 refugees over the next 5 years and “build bridges, not walls, with Mexico”. Here are some excerpts from the politically charged message drafted by Schultz with “deep concern and a heavy heart”:
I write to you today with deep concern, a heavy heart and a resolute promise. Let me begin with the news that is immediately in front of us: we have all been witness to the confusion, surprise and opposition to the Executive Order that President Trump issued on Friday, effectively banning people from several predominantly Muslim countries from entering the United States, including refugees fleeing wars. I can assure you that our Partner Resources team has been in direct contact with the partners who are impacted by this immigration ban, and we are doing everything possible to support and help them to navigate through this confusing period.
Hiring Refugees: We have a long history of hiring young people looking for opportunities and a pathway to a new life around the world. This is why we are doubling down on this commitment by working with our equity market employees as well as joint venture and licensed market partners in a concerted effort to welcome and seek opportunities for those fleeing war, violence, persecution and discrimination. There are more than 65 million citizens of the world recognized as refugees by the United Nations, and we are developing plans to hire 10,000 of them over five years in the 75 countries around the world where Starbucks does business.
Building Bridges, Not Walls, With Mexico: We have been open for business in Mexico since 2002, and have since opened almost 600 stores in 60 cities across the country, which together employ over 7,000 Mexican partners who proudly wear the green apron. Coffee is what unites our common heritage, and as I told Alberto Torrado, the leader of our partnership with Alsea in Mexico, we stand ready to help and support our Mexican customers, partners and their families as they navigate what impact proposed trade sanctions, immigration restrictions and taxes might have on their business and their trust of Americans.
Unfortunately, Schultz quickly found out the hard way that while most adult-aged Americans can agree that they like coffee, roughly 50% disagree with his leftist political opinions. Which, according to Yahoo Finance, has sent the company’s “brand perception” into a downward spiral since January 29th.
With late payments on the rise, a dealership upsell begins to look dangerous.
by
Kyle Stock
February 21, 2017, 4:00 AM EST February 21, 2017, 12:39 PM EST
Lured by low interest rates, low gas prices, and a crop of seductive vehicles that are faster, smarter, and more efficient than ever before, American drivers are increasingly riding in style. Don’t be fooled by the curb appeal, though—those swanky machines are heavily leveraged.
The country’s auto debt hit a record in the fourth quarter of 2016, according to the Federal Reserve Bank of New York, when a rush of year-end car shopping pushed vehicle loans to a dubious peak of $1.16 trillion. The combination of new car smell and new credit woes stretches from Subarus in Maine to Teslas in San Francisco.
Ivanka Trump’s signature perfume is a best seller on retail giant Amazon.
Ivanka Trump Eau de Parfum Spray For Women ($34 for a 3.4-ounce bottle) was No. 1 on Amazon’s list of bestselling fragrances and perfume for at least the sixth consecutive day. One reviewer wrote: “I normally buy this at Nordstrom. But now that I heard they will not carry it anymore, I was happy to find it on Amazon.” (Radha Beauty Aromatherapy was at No. 2 on Amazon’s list.) The recent success of Ivanka Trump’s perfume on Amazon, particularly after her products were dropped from other stores, suggests the “resistance economy” to boycott products associated with the family of President Trump can help a brand as well as hurt it.
The success of Ivanka Trump’s perfume on Amazon suggests the ‘resistance economy’ to boycott products associated with the family of President Trump can help a brand as well as hurt it.
Democratic commissioner has been no-show from public meetings since early December
BY: Joe Schoffstall
February 19, 2017 12:45 pm
A Democratic Federal Election Commission official who pushed to regulate the internet and has been absent from public meetings for months is resigning, according to an announcement.
Ann Ravel, who wanted to regulate political speech on the internet from websites such as the Drudge Report, announced Sunday that she is stepping down from her post.
“It’s been an honor to serve the FEC. I’m committed to transparency – here’s my resignation letter to Donald Trump,” Ravel tweeted on Sunday morning.
Ravel attached her resignation letter to President Donald Trump, which focused on asking Trump to prioritize campaign finance reform.
“I respectfully urge you to prioritize campaign finance reform to remedy the significant problems identified during the last election cycle,” the letter says. “Disclosure laws need to be strengthened; the mistaken jurisprudence of Citizens United reexamined; public financing of candidates ought to be expanded to reduce reliance on the wealthy; and Commissioners who will carry out the mandates of the law should be appointed to expired terms at the FEC. Thank you very much.”
By Adam Clark | NJ Advance Media for NJ.com
on February 16, 2017 at 5:19 PM, updated February 17, 2017 at 3:02 PM
PISCATAWAY — Rutgers University has issued a formal apology after banning students from a job fair for wearing blue suits, colored shirts, brown shoes or other attire that violated a strict new dress code for the event.
The controversy started Feb. 10 when several students who arrived at a career fair for the Rutgers Business School were turned away, according to The Daily Targum, the university’s student newspaper. Students were told they could return if they changed clothes, but some owned only one suit or lived too far away to drive home and make it back in time, the Targum’s report said.
Rutgers told NJ Advance Media it could not confirm how many students were turned away.
Ridgewood NJ, A lifetime of hard work may have rewarded you with a nice home and hefty bank accounts, but what happens to all those assets once you’re gone?
Maybe you want everything to go to the kids. Perhaps a charity or a cause you champion should get a portion. And what happens if, before you die, your mental capacity diminishes and you can no longer make decisions for yourself?
Just thinking about your final wishes – or mentioning them to a close friend over coffee – isn’t enough.
“I believe too many people don’t do the proper planning to make sure that any wealth they’ve accumulated over the years ends up where they want it to,” says Jaime Cowper, president of Unity Financial Advisors (www.unityfinancialadvisors.net).
“Of course, that’s not going to cause any problems for the deceased because they’ll be gone. Those left behind, though, could end up feuding over property, paying more taxes than necessary, or just becoming stressed as they try to put together the puzzle pieces of your estate.”
But you don’t have to leave your heirs guessing about your intentions. Cowper suggests an estate-management checklist to make sure everything is in order.
And if you’re lacking with any item on the list, she says, a financial professional can help steer you in the right direction.
A will. This is perhaps the best known document for letting your final wishes be known, yet it’s not as widely used as you might assume. Just 36 percent of American adults have a will, according to a Rocket Lawyer estate-planning survey by Harris Poll. If you don’t have one, it’s time to remedy that. “It’s especially important to have a will if you have minor children because you can use the will to name a guardian for them,” Cowper says. • Healthcare documents. Like it or not, as you near the end of your life you could reach a point where you’re no longer capable of making medical decisions for yourself. The right documents can spell out your wishes for health care and you can also name someone to make the decisions for you if it comes to that. Documents you should consider include a living will, a power of attorney agreement and a durable power of attorney agreement for healthcare. • Financial documents. Similar to the health situation, you can also outline your financial wishes and appoint someone to make financial decisions for you if you become unable to make decisions for yourself, Cowper says. Documents to consider include joint ownership, durable power of attorney, and living trusts. • Beneficiary forms. In some cases, when you name a beneficiary for bank accounts and retirement plans, they automatically become “payable on death” to your beneficiaries. In other cases, you must fill out a form to make the accounts payable on death. Why is payable on death such an important distinction? The beneficiaries can get their money without the potential delays caused by probate.
Finally, make sure your heirs know where to find all of your important documents.
“When you’ve done all this planning, you don’t want to leave your heirs searching through closets, attics and dresser drawers in search of your important papers,” Cowper says. “You won’t be there to guide them, so someone should know exactly where to look.”
About Jaime Cowper
Jaime Cowper, president of Unity Financial Advisors (www.unityfinancialadvisors.net), is an Investment Advisor Representative under Alphastar Capital Management, an SEC Registered Investment Advisory Firm. She has a life and health insurance license with the states of Michigan, Florida, Hawaii, North Carolina, New Mexico, Nevada and Minnesota.
