Siemens, an engineering giant based in Germany, has been making big waves in the nautical niche. The Siemens Wind Power headquarters in the Denmark Jutland Peninsula is now in operation. The company is currently making final touches to its newly constructed warehouse. The warehouse resembles a slate gray factory and workers are currently putting up an assembly line that is designed to churn out huge 2.3 megawatt turbines. While the workers are still working on the warehouse’s finishing touches, the company’s more than 1,000 newly hired employees are being housed in nearby offices.

The Siemens unit experienced progress as a result of their niche strategy. At present, the company is focused on selling turbines and other related gears and equipment for offshore use. Owning more than half of the total sales for 2009, Siemens was able to make it to the top of the growing market. For the previous year, the company was deluged with huge orders for a number of offshore projects. Among its several projects was the $4 billion deal with Denmark’s DONG Energy for the North Sea. Siemens was to provide DONG Energy a total of 500 turbines. According to DONG’s chief executive officer, Anders Eldrup, Siemens has been the only company that supplies the number of machines they needed in order to construct wind parks.

A few other offshore orders have also helped to increase the company’s renewable energy sales by up to 55% in June. The company’s wind business has definitely shown tremendous growth since its entry in the market way back in 2004. Siemens has made its entry into the market through its acquisition of Bonus Energy, an offshore turbine maker based in Brande.

Siemens is planning to broaden its reach in order to attain its goal of becoming the number three global producer of wind turbines by 2012.

One of the world’s leading spirits providers, Bacardi, started in late November its global roll-out of a new gift pack for Bombay Sapphire gin.

The Bacardi Sapphire gift pack includes a 1liter bottle of the product and a recipe booklet.

Bombay Sapphire Reign is already available at Amsterdam Schiphol airport with Schiphol Airport Retail and was created exclusively for duty-free and travel-retail, according to Bacardi.

The new gift box also won the Best Cartonboard Packaging Award on Nov. 5, 2009 at the UK Packaging Awards.

“Our premium Bombay Sapphire Reign pack is synonymous with the exceptional cocktails produced Bombay Sapphire gin,” said Bacardi Global Travel Retail Division marketing director Trent Russell.

Geokinetics Inc. and Petroleum Geo-Services announced Dec. 3, 2009 that they have signed a definitive agreement under which Geokinetics, a leading provider of seismic data acquisition, processing and interpretation services, will acquire the onshore seismic data acquisition and multi-client data library business of PGS (PGS) in a cash and stock transaction valued at approximately $210 million, on a cash free, debt free basis, which includes net working capital of $37.5 million, according to a press release from Avista Capital Partners.

The final purchase price is subject to certain customary post-closing adjustments. The transaction is expected to close in the first quarter of 2010 and is subject to normal closing conditions and regulatory approvals; there is no financing condition.

Following the closing of the transaction, PGS will become Geokinetics’ second-largest shareholder after affiliates of Avista Capital Partners.

Avista Capital Partners makes controlling or influential investments, primarily in U.S.-based companies in connection with various transaction structures, including leveraged buyouts, buildups and growth financings in the energy, healthcare and media sectors.

The combination of Geokinetics and PGS Onshore will create the second largest provider of onshore seismic data acquisition services in the world in terms of crew count and the largest based in the Western Hemisphere.

The combined company will have the assets and technical capabilities to support up to 38 crews and carry in excess of 207,000 equipment channels and over 150 vibroseis units; and possess in excess of 6,240 square miles of multi-client library data upon completion of current projects in progress. Empowered by a broad range of technologies that include transition zone (“TZ”), ocean bottom cable (“OBC”) and land vibroseis, the new Geokinetics will be able to compete more effectively within the entire seismic value-chain of planning, proprietary and multi-client acquisition, processing and interpretation services.

Furthermore, this acquisition will propel Geokinetics into new markets including Alaska and Mexico, as well as certain new countries in the Middle East and North Africa. As a result, Geokinetics will have a greater geographic reach overall, with a more significant presence in Africa and Asia and a leadership position in the Americas.

“We are extremely pleased to enter into this agreement with PGS as it solidifies Geokinetics’ position as the clear leader in the onshore seismic data acquisition business,” said Richard F. Miles, President and Chief Executive Officer of Geokinetics. “With the addition of PGS Onshore’s technologies; its broad international operations capable of working in diverse climate conditions; its extensive multi-client library providing multi-year potential and a focus on high-impact drilling areas or areas of high lease turnover, we will be able to expand our services, accelerate our entrance into the multi-client business and enhance our position within the seismic contractor industry.”

Following the closing of the transaction, PGS will become Geokinetics’ second-largest shareholder after Avista Capital Partners. The acquisition is expected to provide annual synergies in excess of $10 million, driven mainly by organizational streamlining and cost reductions.

CEO Mayo Shattuck of Constellation Energy today released a statement addressing the 15th Conference of the Parties of the United Nations Framework Convention on Climate Change (UNFCCC) in Denmark, Copenhagen, Dec. 7 -18, 2009.

“Constellation Energy is hopeful that the international community will agree to a political framework that will ensure the conclusion of negotiations in 2010 for a successor agreement to the Kyoto Protocol,” said Mayo Shattuck. “Although we recognize that a number of challenges remain to negotiating a final agreement under the UNFCCC, we believe that a pathway to success can be found if governments focus on developing pragmatic strategies for commercializing and deploying key low-carbon energy technologies.”

Mayo Shattuck emphasized that nuclear energy was part of the solution to lowering carbon emissions. “The world’s climate experts, including the Intergovernmental Panel on Climate Change, believe that nuclear energy, in particular, plays an indispensable role in substantially reducing greenhouse gas emission, improving air quality and strengthening energy security in a sustainable manner,” Mayo Shattuck wrote. “There appears to be a global consensus that the world needs to cut its emissions in half by 2050, compared to today’s levels,” Mayo Shattuck continued. “At Constellation Energy, we are particularly focused on the technological and industrial transformation that will be necessary to meet that objective. Nuclear energy currently provides about 14 percent of the globe’s commercial electricity and that number needs to increase substantially if we are to meet the 2050 long-term goal.

The Constellation Energy chief also praised President Obama’s decision to participate in the Copenhagen Summit.

Shattuck talked about the developing world’s contribution to cutting emissions through nuclear power. “According to the Energy Information Agency, China and India are projected to add 47 gigawatts and 17 gigawatts of nuclear capacity, respectively, between 2006 and 2030. Such low-carbon power generation strategies will cut greenhouse gas emissions significantly below business-as-usual scenarios in developing countries. Given their role in mitigating emissions, developing country investments in nuclear should certainly be acknowledged in Nationally Appropriate Mitigation Actions,” Mayo Shattuck wrote.

Today, Dec. 1, 2009, the National Association of Realtors reported that pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

“Keep in mind that housing had been underperforming over most of the past year,” said Lawrence Yun, chief economist for the National Association of Realtors. He added that homes sales are on a pendulum swing.

“Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” Yun said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.”

The Pending Home Sale Index in the Northeast surged 19.9 percent to 100.2 in October and is 44.2 percent above a year ago. In the Midwest the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008.

Pending home sales in the South increased 5.4 percent to an index of 115.4, which is 31.6 percent above a year ago. The index fell 11.2 percent in the West to 127.7 but is 21.9 percent above October 2008.

However, Yun cautioned that home sales could experience a dip in the months ahead in part because it can take several weeks to several months before buyers can close a sale.

“Given the lag time, we could see a temporary decline in closed existing-home sales from December until early spring when we get another surge, but the weak job market remains a major concern and could slow the recovery process,” he said. “Still, as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families.”

The Associate Press is reporting that Toyota Motor Corp. will replace gas pedals on about 4 million recalled cars in the U.S. because the accelerator pedals get stuck to the floor mats and can be a danger to drivers and other motorists and pedestrians.

Toyota issued a consumer safety notice in this issue on Sept. 29, 2009 and told owners to remove the driver’s side floor mats to keep the gas pedal from becoming jammed. Toyota mailed notices to owners of certain Toyota and Lexus models on Oct. 30.

Toyota has issued “vehicle-based remedy” and it is as follows:

1. The shape of the accelerator pedal will be reconfigured to address the risk of floor mat entrapment, even when an older-design all-weather floor mat or other inappropriate floor mat is improperly attached, or is placed on top of another floor mat. For the ES350, Camry, and Avalon models involved, the shape of the floor surface underneath will also be reconfigured to increase the space between the accelerator pedal and the floor.
2. Vehicles with any genuine Toyota or Lexus accessory all-weather floor mat will be provided with newly designed replacement driver- and front passenger-side all-weather floor mats.

Toyota is in the process of completing development of these actions and for the ES350, Camry, and Avalon will start notifying owners of the involved vehicles via first-class mail by the end of this year. The remedy process regarding the other five models will occur on a rolling schedule during 2010, according to a press release.

“The safety of our owners and the public is our utmost concern and Toyota has and will continue to thoroughly investigate and take appropriate measures to address any defect trends that are identified,” the Japanese automaker said in a statement.

U.S. households are expected to spend an average of $390 on Christmas gifts this holiday season, down from last year’s estimate of $418, The Conference Board reports.

The survey of Christmas gift spending intentions covers a nationally representative sample of 5,000 U.S. households. It was conducted for The Conference Board in November by TNS, the world’s largest custom research company.

“Consumers are approaching the holiday season very cautiously,” said Lynn Franco, Director of The Conference Board Consumer Research Center. “Job losses and uncertainty about the future are making for a very frugal shopper. Retailers will need to be quite creative to entice consumers to spend, both in stores and online this holiday season, as consumers most certainly will expect major markdowns and bargains.”

Only 26 percent of all households intend to spend $500 or more on Christmas gifts, down slightly from 27 percent last year. Among other households, 35 percent plan to spend $200 to $500, down from 37 percent last year, and 39 percent are planning to spend less than $200, up from 35 percent in 2008.

When it comes to buying online, a report from The Consumer Internet Barometer, a separate survey produced quarterly by The Conference Board and TNS, shows that consumers will also approach online holiday shopping cautiously, holding off on big ticket items and holding out for major incentives like free shipping and discounts.

“Even as the economy is starting to show signs of improvement, consumers are taking a cautious approach to their purchase decisions, focusing on lower ticket items that clearly communicate value,” notes Bridget Armstrong, head of Consumer Sector at TNS.

Mayer Brown, a leading global law firm, announced on Nov. 16 it is advising Mead Johnson Nutrition in the $7.7 billion split off of Bristol-Myers Squibb’s 83 percent stake in the company.

The transaction is expected to be completed in mid-December, according to a press release from Mayer Brown.

The Mayer Brown team is being led by Corporate & Securities partners Fritz Thomas, David Schuette and Bill Kucera, Tax Transactions partner Jim Barry and Employee Benefits partner Debbie Hoffman.

“This marks the latest step in our company’s transformation into a BioPharma leader,” said James M. Cornelius, chairman and chief executive officer of Bristol-Myers Squibb. “By executing our healthcare divestment strategy, we have sharpened our BioPharma focus, improved the overall financial strength of the company and supported our ability to pursue strategic business development opportunities.”

In the exchange offer, Bristol-Myers Squibb shareholders can exchange some, none or all of their shares of Bristol-Myers Squibb common stock for shares of Mead Johnson common stock. The exchange is generally expected to be tax-free to participating shareholders. As part of the exchange offer, Bristol-Myers Squibb will convert all of its Mead Johnson class B common stock into Mead Johnson class A common stock. Upon the completion of the exchange offer, only Mead Johnson class A common stock will remain outstanding.

The exchange offer is designed to permit Bristol-Myers Squibb shareholders to exchange shares of Bristol-Myers Squibb common stock for shares of Mead Johnson common stock at a discount.

“This transaction represents the important final step in our journey to be a fully independent public company,” Mead Johnson Chief Executive Officer Stephen W. Golsby said. “ We believe the decision to split-off Mead Johnson reflects confidence in the success of our growth strategy and our strong financial performance since our IPO in February, as well as BMS’ objective to focus on their core BioPharma business.”

The company said it expects to incur costs incremental to its previous expectations for specified items in the fourth quarter of 2009 estimated in the range of $0.08 to $0.13 per share.

Mead Johnson develops, manufactures, markets and distributes more than 70 products in 50 markets worldwide.

Mayer Brown is a leading global law firm with offices in key business centers across the Americas, Asia and Europe

Alex Von Furstenberg, director of the Diller-von Furstenberg Foundation, has announced his foundation will donate $50,000 to the Los Angeles Mission and the Anne Douglas Center for Women.

Herb Smith, President of the Los Angeles Mission, said of gift “We are especially grateful for this gift, as it will provide the means to serve hundreds of homeless men and women who are in desperate need in our community.”

Alex Von Furstenberg was especially impressed with the Los Angles Mission’s work. “It was immediately apparent what a true and powerful impact the Los Angeles Mission is having on people in need,” said Alex von Furstenberg. “I was particularly inspired by the stories of women who have regained their way through the rehabilitation and career development program at the Anne Douglas Center, and I am honored to support such a significant cause. I am in awe of what this organization is achieving.”

The Diller – von Furstenberg Family Foundation is supporting a wide range of organizations that servicing community. The Diller- Von Furstenberg Foundation has funded such initiatives as afterschool programs; salaries that permit social workers to reach more people; endowments to educational institutions at all levels; and programs to encourage artistic literacy and individual achievement in children.

For more than 70 years, the Los Angeles Mission has served the homeless community of Los Angeles, providing emergency services such as shelter, food, clothing, as well as medical and dental services. The Los Angeles Mission also has residential rehabilitation programs, including education, job training and placement, transitional housing, and counseling.

Source: Alex von Furstenberg Provides Support to the Los Angeles Mission (PR Web via The Earth Times)

Global spirits major Bacardi Martini India Limited recently launched in Delhi Eristoff premium vodka, a leading international premium vodka brand globally. Eristoff is a pure form vodka with no after taste, just creamy and smooth, according to creators.

Commenting on the development, Mahesh Madhvan, president and chief executive officer of Bacardi Martini India Limited said, “Eristoff is the market leader in many European Markets and with its launch in Delhi we are expanding our footprint within the Indian market.”

Bacardi Limited’s brand portfolio consists of more than 250 brands and labels, including Bacardi rums, Martini and Rossi vermouths, Dewars blended scotch whiskies, Grey Goose vodka, Bombay Sapphire gin, Eristoff Premium Vodka, Cazadores Blue Agave tequila, among other brands.

At last, some hope for the ailing steel industry.

Steelmakers are counting on improved demand for steel to revive the industry, which has suffered because of a demand slump from key consuming markets in auto and construction.

On a global scale, world steel production experienced a depression by 22% at 449.2 million tons for the first five months this year. This is a far cry from production levels in 2007, which was 1.35 billion tons, with China accounting for 40% of global production.

When the economic slump hit in mid 2008, the industry bore the brunt as the auto and construction industry experienced severe losses because of all-time declines in demand.

Hopes are rekindled, albeit small, as steel producers in the United States and Europe received more orders within the past month, setting off a resumption of manufacturing activity.

No.1 steelmaker ArcelorMittal, which operates in the United States and Brazil, earlier announced it will put some of its idle capacity back to work. U.S. Steel Corp. echoed the same plans.

However, companies are exercising caution as full recovery is months away. Though there is some improvement in demand, real demand for steel remains to be seen.

Consultancy firms that advise industry leaders are looking at a rocky road to recovery for steel. John Lichtenstein of Accenture commented that increased production carried with it the risk of price increases, as it will eventually overwhelm real demand.

Several European producers have raised prices, one of them being Thyssenkrupp, Germany’s top producer. Europe’s No. 2 steelmaker Corus also announced intentions to increase their prices.

The industry is poised for slow and prolonged recovery, which according to Daniel DiMicco, CEO of America’s Nucor Corp, will take three years at a minimum.

In the next months and years, DiMicco expects to see an increase in operating activities while others will opt for a restart.

Individuals of color have yet to overrun the private equity industry. Given proper training and mentoring opportunities however, they could comprise a lucrative pool of talent for private equity investors and alternative asset managers.

To those ends, the Sponsors for Educational Opportunity (SEO) have banded with legendary private equity investor Kohlberg Kravis Roberts & Co. (KKR). Together they established the Alternative Investment Fellowship Program, which aims to increase the visibility of minorities in the private equity workforce.

Under the program, four or six aspiring financial executives would get a chance to work for KKR as associates. To be qualified, they must undergo training of 18 months. SEO has gotten a three-year support from KKR for this project.

Founded in 1963, SEO is one of the first nonprofit groups of its kind in New York City. It has rapidly grown over the years to become a full-fledged international nonprofit, with branches in the UK and China.

Renowned in America for its workplace diversity initiatives, SEO helps 1,000 youngsters every year. Its flagship Career Program alone has produced 5,000 graduates, who have secured full-time positions in chief investment banks, law firms, and international corporations.

One exemplary alumnus of the said program is Joseph Bae, who now enjoys a senior position with KKR in Asia. In addition to the program, SEO also offers services through the Alumni and Philanthropy Program, and the Scholars Program.

SEO’s partner in the Alternative Investment Fellowship Program is a pioneer in the private equity industry. KKR runs divisions in New York, London, Paris, Tokyo, Washington D.C., San Francisco, Menlo Park, Houston, Hong Kong, Sydney, Beijing, and Mumbai. It supports conventional private equity funds, externally managed accounts, capital funds, and credit strategy funds, among others.

Henry Kravis and George Roberts, along with Jerome Kohlberg, founded the company in 1976. The former two orchestrated the phenomenal 1988 buyout of RJR Nabisco.

Naveen Jain, founder and CEO of business information broker Intelius, spoke at the 2009 Global Organization of People of Indian Origin (GOPIO) Economic, Business and Development Conference. Naveen spoke about the Indian Diaspora and how it relates to the current economic climate.

“As a person of Indian origin, it is an honor to be asked to speak to such an accomplished group of people with a shared heritage,” Naveen Jain said. “I’m looking forward to offering my perspective on the challenges facing our people and, by extension, the entire world.”
The GOPIO Economic, Business and Development Conference brings together major figures of Indian descent from around the world so theat they discuss the challenges Indians and the Indian Diaspora faces in the face of the current economic crisis. GOPIO was founded in 1989 to protect human rights, and later expanded its mission to help improve the standard of living among people of Indian origin as well encourage communications between Indian communities around the world.

Naveen Jain grew up in India and earned his engineering undergraduate degree from Indian Institute of Technology (IIT) and his MBA from Xavier Institute of Management. Naveen Jain left India 25 years ago to accept a position with Microsoft. He went on to found Infospace. After leaving Infospace, he founded Intelius. Naveen Jain has been active philanthropist who has supported many local organizations, including the United Way, Seattle Children’s Hospital, HopeLink, Tree House, Boys and Girls Club, Kindering Center, Overlake Service League, and the National Network to End Domestic Violence (NNEDV).

Finance analysts recommend bank stocks as the smart play investors should make a move on. Ever since the U.S. Treasury Department ordered stress tests in May, the banking industry has accumulated a total of $16 billion in equity, which places them in a more stable position to deal with expected surge in commercial real estate-related losses.

Last month, bank stocks were among the highest gainers. Bank of America shares rose 9.9% to $11.73. JPMorgan Chase & Co. shares gained 6.7% to $37.26. Shares of Citigroup Inc. also rose 16 cents to $3.64. State Street shares gained 8.5% or $3.28, raising it to $41.79.

According to Richard Green of the Lusk Center for Real Estate at the University of Southern California, the latest surge in bank valuations are enticing but they are not without risk. The challenge for investors is to distinguish which names are most likely to rebound.

Banking analyst Anthony Polini of Raymond James (RJF) sees Bank of America as one of three banks to prevail and benefit from slow growth until 2010. Together with JPMorgan Chase and Wells Fargo, the three banks combined control a third of consumer bank deposits in the U.S. With slow economic growth, borrowing rates will remain low. Weaker banks who face capital deficiencies will give these three banks pricing power to charge higher interests on new loans.

With recession recovery moving at a slow pace, Green observes that banks need to prepare for the imminent problem that will come down as commercial real estate loans mature in the next two or three years. He estimates the amount to be at $350 billion.

This aside, Standard & Poor’s Erik Oja cautions weary investors that “if they wait to see commercial loan default rates or losses peak before putting money into bank stocks, they will probably miss the boat on some good opportunities.”

Popular Wall Street personality and Centurion Holdings LLC Chairman and CEO Joseph “Joe” Grano, Jr., was appointed to the board of directors of Ethoca early in 2008.

In an article that came out last March 11, 2008 on SecuritySoftwareZone.com, Ethoca’s president and CEO Andre Edelbrock expressed his belief that Centurion’s big man will be able to lend Ethoca his vast treasure of knowledge and leadership experience in security and financial services. Grano’s entrance at Ethoca will give the company more depth and business acumen.

For his part, Joe Grano expressed delight in being given the chance to help point Ethoca into the right direction — the one that ultimately leads to positive growth especially in terms of creating a safe and secure way of shopping via e-commerce.

Ethoca is a trusted name in collaborative fraud management. Its vision is to eliminate losses caused by fraud and other types of transactions not certified by the customer.

Before becoming the big man of Centurion Holdings LLC, Grano was UBS Financial Services Inc.’s chairman. He served the company from 2001 to 2004. In 2002, Grano was appointed by President George W. Bush as the Homeland Security Advisory Council chairman.

Grano was also with Merrill Lynch where he held a variety of senior management positions, the most prominent of which was his job as the Director of National Sales.

It’s easy to see that this prominent individual is an achiever; Joe Grano is a holder of an Honorary Doctor of Laws degree (Pepperdine University) and an Honorary Doctor of Humane Letters degree from the City University of New York’s Queens College. He also achieved the rank of captain when he became a member of the Green Berets (U.S. Special Forces). He was one of the youngest officers of the Army.

Apart from his daily responsibilities at Centurion Holdings LLC and his duties as Ethoca’s board member, Grano busies himself with several educational and philanthropic undertakings. He is also an active member of the Council for the United States and Italy; of Lenox Hill Hospital’s board of directors; and the City University of New York’s Business Leadership Council.

Joe Grano is a credible and well-respected man in both the private and public sectors.

Roni Lynn Deutch, the renowned “Tax Lady” and bestselling author of The Tax Lady’s Guide to Beating the IRS and Saving Big Bucks on Your Taxes, offered some free but valuable tax advice in a July 109 article published by WomanEntreprenuer.com. In her article “Do You Owe the IRS?”, Roni Lynn Deutch gives six options on how to deal with your current tax debt. Her advice applies to regular individuals as well as entrepreneurs, and Roni Deutch advises that you take care of your tax burden as soon as possible. “The longer you wait to resolve a debt, the more interest and penalties the IRS will tack on,” Roni Deutch writes, “so even if you don’t have the money to fully pay your tax bill, you need to take action.”

First, Roni Deutch advises, is to make sure your tax bill is completely legitimate. “Don’t be afraid to check the math and question the totals,” Roni Deutch advises. “Simple mistakes on a tax return can result in big tax bills.”

After you made sure the IRS has come up with the right numbers, there are six options you can go. Roni lists them off as the following:

1. Pay in Full: Roni Deutch admits that this may seem pretty obvious, but she points out this unpleasant option is preferable to “IRS collections hounding you day and night, putting liens and levies on everything you own.” She says that simply selling a valuable asset is far more simple way to resolve your tax debt.
2. Offer in compromise. If you can’t afford to pay in full, you could be eligible to have an offer in compromise, and where you pay a lump sum for a smaller amount then was originally owed. But according to Roni Deutch, it is very difficult to qualify for this plan.
3. Installment agreement. Roni Deutch says the installment agreement is much more likely scenario. The IRS will used its own calculations to figure out how much a reasonable monthly payment will be. The calculation is based on your income minus your “allowable expenses.” These expenses can only be food, housing, transportation, and other necessities, so it’s possible your monthly payment may be high.
4. Streamlined installment agreement. Roni Deutch writes that “This form of resolution is less intrusive than a regular installment agreement because it does not involve an extensive financial disclosure of income vs. expenses.” Streamline installment agreements are for taxpayers with tax bills under $25,000. This plan is based on the amount to pay off taxes within five years or less.
5. Currently not collectible. If you simply cannot pay your tax bill because all your money goes to living expenses, the IRS will stop trying to squeeze money from you. According to Roni Deutch, “The idea is that the IRS won’t have to waste resources trying to collect from you until your financial circumstances change or your debt expires.”
6. Wait it Out. Believe it or not, tax debts expire 10 years from the date of assessment. But Roni Deutch warns that waiting for your tax bill to “expire” is not a simple matter of hunkering down and waiting it out. She says the IRS has plenty of tricks up its sleeves to extend the life your tax bill.

Roni Deutch advises that you contact the Taxpayer Advocate Service to get information and get through the IRS bureaucracy. This Taxpayer Advocate Service is an independent agency withi the IRS that makes sure the taxpayers know their rights and learn the best ways to resolve their tax bills. But failing that, you can still turn to a tax lawyer such as Roni Deutch to help you get on the right side of the IRS.

Article Source: Do You Owe the IRS? (WomenEntreprenuer.com)

Ethical Corporation recently published a comprehensive, well-researched article called “Private Equity – Easing the barbarians through the gate.” The article is about how the responsible investment movement and private equity are learning to work together.

The first major example of this new style of business is the partnership between the Environmental Defense Fund and Kohlberg Kravis and Roberts (KKR). In February of 2007, Jim Marston, head of the EDF’s Texas office, met with KKR Chairman Henry Kravis.

The EDF had already waged a PR campaign against the plants, so they were surprised to be invited by KKR to discuss the issue. The EDF was intent on stopping KKR’s latest acquisition, Texas Utilities (TXU), from building eleven coal-firing plants.

But Henry Kravis was determined to revolutionize both the image and the practices of KKR. Henry Kravis understood that environmental groups now have considerable leverage, especially as public opinion continually grows in support of preserving the environment. He knew the getting the plants approved would entail an extremely difficult regulatory and public relations battle, and besides, Henry Kravis is sympathetic to many environmental issues. So, Henry Kravis decided he wanted the EDF and the Natural Resources Defense Council to enter the negotiations of KKR’s $44 billion buyout of TXU.

The result was TXU scrapping plans for eight of its coal plants, along with significant investments in renewable energy, conservation, and efficiency measures.

The astonishing KKR deal is just the tip of the iceberg the reform of private equity. According to the National Venture Capital Association, venture investment in clean technology has jumped from just 2% to 17% of the total money vested. In February of 2009, The Carlyle Group and KKR formed the Private Equity Council to encourage the implementation of ESG, or “environmental, social and governance” guidelines. These guidelines include anti-bribery measures, more open communication with shareholders, and stricter adherence to labor and environmental regulations.

The new face of private equity is at sharp odds with its old image, formed by the “barbarians at the gate” story of KKR’s takeover of RJR Nabisco. Ken Mehlman, the KKR head of global public affairs, says the barbarian image days are over. “I hate hearing that phrase. I don’t believe it’s an accurate portrayal of who KKR was then but it’s certainly not who we are today,” Ken Mehlman said. “We’re committed to responsibly steward the companies we own. We’re committed to sustainability.”

Ken Mehlman launched his career as an environmental lawyer for Akin Gump Strauss before he became the chairman of the Republican National Comittee. KKR hired Ken Mehlman so the firm could build a strong relationship with the EDF.

“There was instant chemistry at KKR,” Ken Mehlman says. “I believe strongly that free enterprise, when it’s focused, can bring value to all stakeholders, not just shareholders. We now use environmental, social and governance measures as part of our due diligence in acquisitions and across portfolios.”

KKR and EDF recently announced the Green Portfolio project. “[We worked] to test a set of analytic tools to help companies improve in several key environmental performance areas,” Ken Mehlman says, “including greenhouse gas emissions, waste, water, forest resources and chemicals. KKR and EDF released the results of their pilot partnership at three companies: US Foodservice, Primedia and Sealy. The total savings with the Green Portfolio practices amounted to $16.4 million, while preventing more than 25,000 tons of greenhouse gas emissions.

“We’re making ESG part of our DNA. This is a process. We’re going to make mistakes, but we’re committed to learning and improving on our environmental and social practices,” Ken Mehlman says. “We’re already seeing the benefits and we are rolling initiatives out across our portfolio.”

An article from Longmont Times-Call titled “Amgen Hands Out $175K to Agencies” describes how the Thousand Oaks, California-based biotech company Amgen donated the sum of $175,000 to nonprofit organizations in Boulder County, Colo. It gave out $25,000 each to seven charitable organizations including The OUR Center, Boulder Shelter for the Homeless, The Emergency Family Assistance Association, The Sister Carmen Community Center, Community Food Share, Aging Services Foundation of Boulder County, and HospiceCare of Boulder and Broomfield Counties.

According to Amgen spokeswoman Diana Sherman-Palmer, the company wanted to take the extra mile in giving assistance to those who need help in a time of financial crisis. Moreover, this gesture is just one of the many that the company gives through its foundation and its employees’ volunteer time.

Founded in 1980, Amgen Inc. is an international biotechnology company that is considered as the largest independent biotech firm with around 17,500 employees and revenues of $14.77 billion as of 2007. The company employs cellular biology and medicinal chemistry in curing inflammatory disorders, kidney ailments, metabolic diseases, and cancers. Its leading drugs include Epogen and Aranesp for anemia; and Enbrel — which has become one of the best-selling drugs in the market — for the treatment of rheumatoid arthritis.

Other drugs include Vectibix for colon cancer, Kepivance for oral mucositis, Neupogen and Neulasta for neutropenia, Sensipar for secondary hyperparathyroidism, Nplate for chronic immune thrombocytopenic purpura, and Kineret for rheumatoid arthritis.

Amgen is a blending of the company’s original name, which was Applied Molecular Genetics.

Article Source: Amgen hands out $175K to agencies

More Amgen News:

• Analysts maintain positive outlook for Amgen
• Amgen leads employers in annual game

A Reuters report released on Feb. 17, 2009 indicates that Ford Motor Company has come into agreement with the United Auto Workers to diminish its labor costs on a par with Japanese competitors. Although the terms of the agreement remain to be undisclosed until the VEBA discussions have been concluded, Ford Motor Company revealed that the deal would include adjustments in its operating practices, benefits, and labor costs. Additionally, the agreement covers 42,000 employees from Ford Motor Company and members must ratify it.

This is another aspect of helping Ford Motor Company survive in the absence of government loans. In December 2008, the United Auto Workers settled on suspending the job banks program as their way to help U.S. auto manufacturers in the midst of their crisis.

About Ford Motor Company
Ford Motor Company is a global automotive manufacturing company that offers a wide range of vehicles from cars and trucks to SUVs and crossovers as well as vehicle services. Henry Ford founded Ford Motor Company, which was incorporated on June 16, 1903. The company pioneered the use of moving assembly lines demonstrating efficient manufacturing sequences for the large-scale manufacture of cars and for the comprehensive management of an industrial workforce. With its headquarters in Dearborn, Michigan, Ford Motor Company has now become the fourth largest automaker in the world based on global vehicle sales in 2007, producing 6.553 million automobiles and employing 245,000 people at approximately 100 plants and facilities around the world. Aside from the Ford brand, Ford Motor Company also carries the Mercury and Lincoln brands in the United States. Additionally, Ford Motor Company owns Swedish car manufacturer Volvo Cars and it also has a small stake in British luxury sports car manufacturer Aston Martin and Japanese automaker Mazda.

About the United Auto Workers
The United Auto Workers (UAW), also known as the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, is a labor union representing workers in Canada, Puerto Rico, and the United States. Based in Detroit, Michigan, the United Auto Workers was founded in May 1935 to represent workers in the automobile manufacturing sector.

Today, United Auto Workers has become one of the biggest and most diverse unions in North America with over 800 local unions, around 513,000 active members and over 575,000 retired members coming from a wide range of sectors including colleges, universities, hospitals, small companies, private non-profit organizations, multinational companies, and state and local governments. The union works to continually develop good partnerships with employers as well as negotiate “industry-leading” benefits and wages for its members. The United Auto Workers presently has 3,100 contracts with 2,000 employers in Canada, Puerto Rico, and the United States.

Ford and the UAW in the News:
UAW leaders recommend approval of Chrysler deal.

UAW gears up to join boards of the carmakers

2010 Fusion Hybrid goes 1,445 miles on single tank

by Melanie Szlucha

I love it when conversations with my HR Director friend Lauren start with: “You’ve GOT to write about this in your newsletter.” I know it’ll be a juicy example.

Here’s the situation. Lauren’s colleague referred a jobseeking friend to her. There was an open position that could be a fit, so she passed along the resume, and told her friend to give Lauren a call.

So the jobseeker (we’ll call her Denise) calls Lauren to touch base and see that she got the resume OK. Great, fine. Standard protocol. Lauren knows that it’s tough out there for jobseekers, and this is a referral from a colleague, so she is very friendly (as opposed to how HR Directors normally are-ha ha!) and tells Denise that she has her materials, but won’t have a chance to get to it until she gets back from Florida. Fair enough. She’s given Denise a timeline.

However, when Lauren’s in Florida, she gets a voicemail from Denise asking about the status of her application. Hmmm. So perhaps Denise missed the detail about her being out of town, but I know my friend–and I know that she always changes her voicemail to let people know when she’s out of the office. So Denise heard the message, and instead of saying “oh DUH, she told me that last week” and hanging up, she left a message. But did Denise really think that a decision was being made that week with the Director out of town?

Ok–I’m sure you’re thinking–Melanie–these are not grievous sins. You need to chill a bit. And you’re right…but then it gets bad.

So Lauren calls Denise back when she returns to remind her that she was away, no decision was made and that she’ll call her if she is a fit–no worries. If she matches what they’re looking for-Denise will be the first to know.

However, Denise has persisted to call Lauren at least once, if not twice a week, for at least 3 weeks. So now not only is my friend NOT going to hire this candidate because she can’t follow directions and has made a nuisance of herself, Denise is making her friend who referred her to Lauren look bad; and in many cases, that’s the worse offense of all.

To put the shoe on the other foot, let’s flip this example for a minute. Let’s say that Denise went car shopping and gave her phone number to a salesman at a dealership. She was just looking at the new models, had an idea of what she wanted, but wasn’t ready to pull the trigger on the purchase yet. But that salesman kept calling. And although Denise was fair with him and said that she was still evaluating and would call him if she was going to buy a car with him, he persisted to call.

Is Denise really going to buy a car that she doesn’t want JUST to get this guy to stop calling? The car doesn’t meet her needs, she had something else in mind, but she finally dropped $20K to just get the phone calls to end?

Who does that?

No-you buy the car you want and need based on your criteria. However seemingly irrational your criteria may seem to your friends, family and colleagues, that’s what you decided to purchase. It makes you happy-you feel good about it, and you have a new set of wheels.

So yes. I know it is tough out there. Believe me. I attend at least one jobseeking group per week. I hear it all and see it all. But I’m BEGGING YOU!!! ALWAYS, ALWAYS, ALWAYS evaluate what you’re doing relative to its ability to get you hired.

Think of yourself as a very valuable, expensive product that people are looking to buy, and think about the big purchases you’ve made. Why did you make the decisions that you did? What was it about the salesperson or the product that gently steered you toward the product, or highlighted how it fit your needs the best? THAT is what you need to do.

And understand, that what’s printed in the job description is only half the story. There’s an entire emotional/chemistry component that goes into hiring someone that should not be dismissed.

Pieces of paper don’t get hired. People do.

About the Author:

Melanie Szlucha has been a hiring manager for over 15 years and a career coach for over 4 through her company Red Inc. She writes resumes, coaches clients for job interviews, and works with them to strategize networking opportunities and job search tactics.

She offers a packet of FREE job search articles–worth over $100, through her website: http://www.reallygreatresume.com

Following her on Twitter (http://www.twitter.com/careerhelp) gives you one great job search tip per day for FREE!

Article Source: http://EzineArticles.com/?expert=Melanie_Szlucha

More advice on job hunting:

Do’s and Don’ts of the followup after the interview.

Collection of thank you letters that you can send after the interview.

A concise guide to job followups.