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When you’re paid in tips, you’re never really sure if you’ll make rent. At a rally last month in Nevada, Donald Trump announced that, if elected, he would exempt tips from federal taxes. 6 is “Large tax cuts for workers, and no tax on tips!” Republicans in Congress are already working on a bill designed to do just that. Last week, they introduced “Tax Free Tips Act of 2024,” which would end federal income and employment taxes on tips. The other half, which earns less than 32,000, already don’t pay federal taxes on their income.
Persons: didn’t, Grandma wasn’t, you’re, Donald Trump, , Jacky Rosen, Catherine Cortez Masto, Trump Organizations: Republicans, Senate, Democratic, Social Security Locations: Amarillo , Texas, Nevada
And then there's the resentment there too," Jones told InStyle. "But I think about it as, historically, people go into the family business more than they don't." Pulling your weight at workShould people be open about their family connections at work, then? "However, if you are involved in an objective recruitment process and keep talking about your family connections, it could be preserved that you are hoping for special treatment," she said. After all, family connections can only go so far.
Persons: , Rashida Jones, she's, InStyle, Jones, Quincy Jones, Peggy Lipton, Hannah Salton, Salton, Allison Ching, Ching, Bernard Arnault's, Mukesh Ambani Organizations: Service, Business, Harvard, Hollywood, Reliance Industries Locations: Singapore
This as-told-to essay is based on a conversation with George Vukasin Jr., president and CEO of Peerless Coffee and Tea. My dad wanted to become an FBI agent and put away bad guys, but he had no choice. In fact, they encouraged me and my two sisters to get professional experience outside the family business. Running a family business is complicated enough without more people involved. None of the kids seem to have an interest in joining the family business.
Persons: George Vukasin Jr, Peerless, Kristina, Michelle, doesn't, I'm Organizations: Service, Peerless, Business, FBI Locations: France
CP Group senior chairman on handing the reins over to his sons
  + stars: | 2024-07-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCP Group senior chairman on handing the reins over to his sonsCNBC's Christine Tan finds out from Charoen Pokphand Group’s Senior Chairman, Dhanin Chearavanont, how his sons are managing the family business. And she asks his son and the Group’s CEO, Suphachai Chearavanont, what that transition has been like for him.
Persons: Christine Tan, Pokphand Group’s, Dhanin Chearavanont, Suphachai Organizations: CP Group
CP Group's CEO reflects on the family legacy
  + stars: | 2024-07-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCP Group's CEO reflects on the family legacyCharoen Pokphand Group’s CEO, Suphachai Chearavanont, shares with CNBC's Christine Tan what it was like to watch his father grow the family business and he reveals his hopes for a digital future for the group.
Persons: Suphachai, CNBC's Christine Tan Organizations: CP
Currently, a 40% federal estate tax applies to estate values topping $13.61 million for individuals and $27.22 million for married couples. When someone dies, their heirs have nine months to file a federal estate tax return if their inheritance meets those minimums. Here's how a Graegin loan could work in practice, according to Doyle:Related storiesHeirs of a $10 million estate could be on the hook for $4 million in federal estate taxes. The taxable estate is $1 million less, which means the family will save $400,000 in estate taxes considering the 40% tax rate. More households will be on the hook for estate taxes, and loans to pay them could become more popular.
Persons: , Sam, Jere Doyle, Jose Reynoso, Doyle, Eric Mann, Neal Gerber Eisenberg, overallocated, Mann, John F, Koons, Robert Strauss, Weinstock Manion, Strauss, haven't Organizations: Service, Business, Mellon Wealth Management, Clarfeld, Wealth, IRS, Pepsi, Republican
Trump Tower is coming to Saudi Arabia
  + stars: | 2024-07-01 | by ( Matt Egan | ) edition.cnn.com   time to read: +2 min
New York CNN —The Trump Organization revealed plans Monday to develop a luxury Trump Tower in Saudi Arabia. If completed, it appears the Jeddah tower would be the Trump Organization’s first major project in Saudi Arabia. Dar Global said the project will target the “luxury Saudi Arabian market and international investors.”The new project in Saudi Arabia comes just days after the Trump Organization and Dar Global unveiled a $500 million Trump International hotel complex in Oman. The Trump Organization’s new projects in the Middle East could raise concerns about potential conflicts of interest should former President Donald Trump return to the White House. The family business is run by his sons Donald Trump Jr. and Eric Trump.
Persons: Dar, Arkan, Eric Trump, Donald Trump, Dar Global, Dar Al Arkan, Trump, ” Donald K, Sherman, ” Sherman, , Donald Trump Jr Organizations: New, New York CNN, The Trump Organization, Trump, Dar Global, Trump Organization, Dar, Trump International, The Trump, Citizens, Responsibility, Washington, CNN Locations: New York, Saudi Arabia, Jeddah, Saudi, Oman
But Mucho quickly became a loved and cherished member of our little family. AdvertisementMucho had ample room to play and relax inside the house, and he received abundant attention from my partner's family, who absolutely adored him. We started spending weekends at my partner's family home, blurring the lines between our live-in relationship and marriage. My partner argued that the dog wouldn't have come into our lives without his decision to get Mucho. He was more than just a pet; he was my dog child, whom I loved so deeply.
Persons: , Mucho, Saint, Mucho's Organizations: Service, Business Locations: Saint Bernard
Tim Milgram is a veteran of the Los Angeles dance community. I started putting this all together: Wow, this seems to go really, really far back: This isn't just about 7M management. Courtesy of Tim MilgramYou had been well-acquainted with Isaiah and even met the Shinn family. And what a successful thing Isaiah was doing, I applauded it. My origin is filming dance, being a dancer, and providing a physical space for people to train and to find community.
Persons: Tim Milgram, Isaiah Shinn, he'd, Milgram, Shinn, Konkrete, Melanie Wilking, Miranda, Shekinah, Robert Shinn, Isaiah, I'd, Briana Frapart, We're, I've, Melanie, Jessica, Acevedo, Nobody, there's, Robert, That's, it's, I'm, It's Organizations: Service, 7M Films, Business, Netflix, Variety Locations: Los Angeles, Angeles
Melissa & Doug had a situation. For decades, the American toy brand had leaned heavily on factories in China to make its products — wooden puzzles, stuffed animals, play mats. Melissa & Doug was eager to shift some production to other countries. The Melissa & Doug executive was surprised to see that the plant could make high-quality wooden toys, at prices comparable to those in China. Late last year, Sunlord completed its first batch of products for Melissa & Doug, a modest order of about 10,000 items, and now is cranking out 25,000 per month.
Persons: Melissa, Doug, Donald J, Trump, Biden, Sunlord Locations: China, Washington, Beijing, Greater Noida, New Delhi
Gamtae is one of South Korea's rarest seaweeds. For centuries, this earthy, sweet seaweed was mainly harvested and eaten raw by locals in the Seosan region. But because of gamtae's unpredictable harvests and rising prices, turning this small industry into a thriving business presented a challenge. So how did Ju-Hyeon take gamtae from a local delicacy to a worldwide sensation? This story is available exclusively to Business Insider subscribers.
Persons: it's Organizations: Michelin, Business Locations: Seosan, South Korea
In 2021, retired Gen. Michael T. Flynn, Donald J. Trump’s first national security adviser, became chairman of a 75-year-old nonprofit organization — the kind of small charity where chairmen typically work for free. But Mr. Flynn received a salary of $40,000, for working two hours per week. Mr. Flynn’s charity also paid one of his brothers, two of his sisters, his niece and his sister-in-law. Since leaving the Trump administration under an ethical cloud, Michael Flynn has converted his Trump-world celebrity into a lucrative and sprawling family business. He and his relatives have marketed the retired general as a martyr, raising hundreds of thousands of dollars for a legal-defense fund and then pocketing leftover money.
Persons: Michael T, Flynn, Donald J, Trump’s, Michael Flynn, QAnon Organizations: Inc, Trump Locations: Flynns
Miru Wong with her grandfather Wong Tat-wing at the original Sindart shop. The cheapest pair is made without embroidery and costs 99 Hong Kong dollars, or $12. Wong says most of the materials — including nylon, silk, satin, and brocade — are sourced from Hong Kong, Japan, and Europe. AdvertisementOthers feel that more can be done in order to pass down the skills in Hong Kong. "Rising labor costs in Hong Kong also make it difficult for traditional shoemakers to maintain profitability," Cho said.
Persons: , Miru Wong, Hong, Wong Tat, Wong, Wong reguarly, she's, shoemakers, Erin Cho, Cho, Lindsay Varty, Varty Organizations: Service, Polytechnic University, Business, Hong, HK, Hong Kong Polytechnic University's School of Fashion, Textiles, Social, Sunset Locations: Hong Kong, Japan, Europe
Her boss, a woman who had been advocating for her to be given a leadership role, left the team while Ms. Zhao was on a five-month maternity leave. After college, Ms. Zhao set aside her dream of becoming a civil servant to pursue a higher-paying job. (Nearly a third of Chinese women have college degrees now, up from fewer than 1 percent in 1990.) Six months after Ning was born, Ms. Tang returned to her office, leaving the baby in the care of a grandmother. Her husband and in-laws oppose the move, but Ms. Tang doesn’t want to be held back.
Persons: doesn’t, Xi Jinping, , ” Joyce Zhao, Joyce Zhao, Ming, Zhao, Ms, , Ming’s, ” Ms, , ” Guo Chunlei, Guo Chunlei, Guo, Tianyi, ” Tang Pingjuan, Tang Pingjuan, Tang, Ning, Tang doesn’t Locations: Beijing, China, Hangzhou, Guangzhou, Shenzhen
A top executive at Tyson Foods who is a fourth-generation member of the Tyson family business was suspended on Thursday after he was charged with driving while intoxicated, the company said in a statement. John Randal Tyson, 34, the company’s chief financial officer and a great-grandson of Tyson’s founder, was arrested in Fayetteville, Ark., by the University of Arkansas Police Department and booked at the Washington County jail at about 1:30 a.m. Thursday, jail records show. It was the second time in less than two years that Mr. Tyson had been charged with an alcohol-related offense. Mr. Tyson, whose father is Tyson’s chairman, was named the company’s chief financial officer in September 2022. He had been in his position just over a month when he was arrested in November 2022, after a woman called the police to report that she had returned to her home in Fayetteville to find him asleep in her bed, The Arkansas Democrat Gazette reported.
Persons: Tyson, John Randal Tyson, Tyson’s Organizations: Tyson Foods, University of Arkansas Police Department, Arkansas Democrat Locations: Fayetteville, Ark, Washington, Arkansas
Hong Kong/Seoul CNN —Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy. The level of capsaicin found in Buldak Hot Chicken Ramen 3x Spicy, Buldak Hot Chicken Ramen 2x Spicy and Hot Chicken Stew was so high that it could poison consumers, the Danish Veterinary and Food Administration said in a statement issued Tuesday. South Korean noodle giant Samyang, which developed the ramen, said on Wednesday that the products were not being recalled because of quality issues. Buldak, which means “fire chicken” in Korean, was developed by Samyang’s chief executive, Kim Jung-soo, a housewife who married into the family business and eventually took over. According to taste testers, the original buldak ramen scored around 4,000 on the Scoville scale, which is roughly equivalent to the heat of jalapeños.
Persons: Stew, , they’ve, Samyang, Kim Jung, Cardi Organizations: Seoul CNN, Danish Veterinary, Food Administration, CNN, NICE, Service, Wall Street, Locations: Hong Kong, Seoul, Denmark, Danish, Japan, Asia
Read previewWhen I started working at my local shopping mall in 2016, I brought a swirl of confusion to my coworkers — and customers. My identical twin sister, Aimee, had already worked there for around a year while balancing her studies at dance college. My role involved working alongside my sister in the food court, cleaning tables, assisting customers, and cleaning the restrooms and the managers' offices. It was a great experience, and it made sense that my parents wanted us to work at the shop. If we made a mistake at work or got frustrated with a coworker, we could leave it at the door.
Persons: , Aimee, isn't Organizations: Service, Business
CNN —Before the nationwide influx of suburban malls and the convenience of online shopping, there was a golden age of American department stores. Satow’s evocation of this historic age is timely, with the death knell for many US department stores well and truly ringing in our ears. Sally Moss“When department stores originally opened, (they represented) one of the rare opportunities for women to congregate together in public,” Satow told CNN. Her motivation was to make department stores enticing — and accessible — for women of all means.) Read: “The Dallergut Dream Department Store” (2024)A bestseller in Korea, the debut novel (and first of a two-book series) from author Miye Lee weaves a fantastical narrative around, as its title suggests, a department store selling consumers’ perfect dreams.
Persons: strategized, Hortense Odlum, Bonwit Teller, Dorothy Shaver, Taylor, Geraldine Stutz, Henri Bendel, Julie Satow’s, Odlum, Shaver, Stutz, Sally Moss “, ” Satow, “ Dorothy Shaver, , , ” Doubleday, , Elizabeth Arden, Helena Rubinstein, “ Hortense Odlum, Jill Krementz “, , , Madeleine St, Goode, Kim Cattrall, Jonathan, Andrew McCarthy, Estelle Getty’s, Claire Timkin, Hollywood Montrose, Miye Lee, Miss Jones ”, John P, Merrick, Charles Coburn, Mary Jones, Jean Arthur, Helena Rubinstein ”, Lindy Woodhead, mindedly Organizations: CNN, puma, Harrods, Rive, TIME, Fashion Group, Fashion, Fashion Industry Hall of Fame, New, & $ Locations: America, Bonwit, Europe, London, Le Bon, Paris, New York, TikTok, Sydney, Australia, Korea
Trump also reportedly told the executives that he would auction off more oil drilling leases in the Gulf of Mexico. "I was at that meeting – that did not happen," Burgum said on CBS' "Face the Nation" on Sunday. "He didn't ask for a billion dollars in donations, and there was no quid pro quo." In January, Burgum endorsed Trump for president. Burgum, who's also a software entrepreneur, announced earlier this year that he won't be seeking a third term as governor.
Persons: Kathryn Burgum aplauds, North Dakota Doug Burgum, Donald Trump, Doug Burgum –, Donald Trump's, , Trump, Biden, Burgum, he's, who's Organizations: Republican, North Dakota Gov, Washington Post, CBS, Continental Resources, Continental, CNBC Locations: North Dakota, Las Vegas , Nevada, Lago, Palm Beach , Florida, Gulf of Mexico, Williams County , North Dakota
Continental Resources donated $1 million to the super PAC in April, according to Federal Election Commission records. A spokeswoman for both Continental Resources and Hamm, its executive chairman, did not respond to a request for comment. All seven wells have been active since 2011, just two years after Burgum's family signed an agreement with Continental Resources. The Burgum Farm Partnership LLP, which oversees the family farm land in Williams County and Cass County, is worth between $500,001 and $1 million, according to the financial disclosure. Doug Burgum is a managing partner of the Burgum Farm Partnership, and he signed the businesses' latest annual report in March.
Persons: Donald Trump, Doug Burgum, Vivek Ramaswamy, Jabin, Harold Hamm, Burgum, Theodore Roosevelt, Sen, Marco Rubio, Rubio, Trump, Hamm, Bradley Burgum, Mike Nowatzki, Nowatzki, Burgum's, He's, Barbara, Edward Hirs, Brandon Bell, Jack Balagia, Ryan Kellog, Kellog, Ted Borrego, , Virginia Canter, Canter, Chip Somodevilla, he's, Kathryn, Dan Eberhart, Eberhart, Leah Millis Organizations: North Dakota Gov, Margate, Washington Post, Continental Resources, Trump White House, CNBC, Trump, Republican, Trump that's, Inc, Commission, Continental, Federal, North Dakota's Minerals Department, Drilling, LLP, University of Houston, Getty, University of Texas, Exxon Mobil, University of Chicago, University of Houston Law Center, Trump White, North, Canter . North, Burgum Locations: Laconia, NH, Hamm, North Dakota, Williams County, Burgum, Fla, Florida, Dakota, North, Brooklyn, Cass County, Fort Stockton , Texas, Washington, Canter ., Canter . North Dakota, Laconia , New Hampshire, Continental Resources . North Dakota, Pittsburgh , Pennsylvania, U.S
Arthur JayFabric-store owner, 82, St. Petersburg, Fla.Arthur Jay didn’t think he would spend his life running the family business. After growing up around his parents’ first fabric store on Long Island, he left to attend college and then to pursue a career in management at Kmart. But when Jay was 27, his father died unexpectedly, so he had to take over at Jay’s Fabric Center in St. Petersburg. “For me, every customer that came in was a different opportunity,” he says. “If you don’t enjoy what you’re doing, getting up every day would be a drudgery.”
Persons: Arthur Jay Fabric, Arthur Jay didn’t, , Jay, Organizations: Kmart Locations: St, Petersburg, Fla, Long, St . Petersburg
On the agenda today:This story is available exclusively to Business Insider subscribers. But first: Where did Mother's Day brunch come from? Austin Melonie Carroll / Getty ImagesThis week's dispatchMother's Day brunchAdvertisementIt's Mother's Day tomorrow — a holiday that can be joyful for many, but also difficult and emotional for others. For those celebrating the holiday, I have a feeling you might be doing something that just feels synonymous with Mother's Day: brunching. I asked Business Insider lifestyle correspondent Anneta Konstantinides for her thoughts — and whether she has any brunch tips.
Persons: , Austin Melonie Carroll, Anneta Konstantinides, Ina Garten's, Matteo Colombo, Dia Dipasupil, Abanti Chowdhury, Pine, That's, Chris Pine's, Charles Tyrwhitt, Chelsea Jia Feng, Reginald Ferguson, Tyler Le, Anne Rice's, Brooke Shields, Von Erich Organizations: Service, Business, Mother's, Taj, Lionsgate, Paramount, Warner Bros, Dia, Getty, Denzel, Casio, Chelsea, BI, AMC Locations: Town, South Africa, United States, Istanbul, Denzel Washington, Patagonia
Toby To Yan Choi left his accounting job in California to help his father run a food stall in Hong Kong. Dai pai dongs — Hong Kong's open-air stalls serving food with a no-frills approach — are disappearing. The number of dai pai dongs in all of Hong Kong has dwindled to just over 20, according to the Hong Kong Tourism Board. The braised white pepper pork hock is one of the signature dishes at Dai Lee Dai Pai Dong. AdvertisementHe's gotten married since moving to Hong Kong and plans to move back to the US if he and his wife have kids.
Persons: Toby, Yan Choi, Dai pai dongs, , Santa Barbara, Choi, Dai Lee Dai Pai Dong, pai, Hong Kong, He's, Hong Kong Dai pai dongs, Hong, sizzling woks, Agnes Chee Yan, Wei, pai dongs, Tiffany Leung, Faye Bradley, wasn't, Shawn Cai, Law Chun Chuen, Dai Lee Dai Pai, Yan Choi There's, they've, Tony Lee, Mok Wah Ho, Ales, Yan Choi He's, Betty Richardson, dongs, Chee, I'm Organizations: Service, University of California, Kong's, Hong Kong Tourism Board, China Morning Post, Young Locations: California, Hong Kong, Santa, Hong, Sham Shui, Sham, China, Shanghai
Whether he's playing the handsome leading man in a rom-com or an intensely focused franchise star, Pine has the uncanny ability to adapt into the movie star that's needed at any particular moment. I learned more from that set about what it means to be a movie star than probably anything else. On turning down 'Wonder Woman' twice before director Patty Jenkins convinced him by bringing up 'Casablanca'"Wonder Woman." Warner Bros. PicturesBy the time you did the "Wonder Woman" franchise, you had done your fair share of blockbusters. Even think of "Wonder Woman 1984" — that's a blockbuster movie that is a hero's journey not about revenge.
Persons: Chris Pine, he's, Don Mattingly, Annette Bening, Danny DeVito, Gwynne Gilford, Robert Pine, Sergeant Getraer, Jack, Pine, Anne Hathaway, David Caruso, it's, Kirk —, Kirk, William Shatner, Karl Urban, McCoy, Karl, Spock, Zach, Quinto, Leonard, Nimoy, Abrams, Shatner, Denzel, Denzel Washington, Tony Scott, Mark Bomback, I'm, you'd, Ben Foster, Taylor, Sheridan, David, Mackenzie, Jeff Bridges, Jeff, Ben, hadn't, Patty Jenkins, Patty, Steve Organizations: Business, Yankee, Washington, Walt Disney Pictures, CSI, Paramount Pictures, Denzel Washington, Denzel, Denzel Washington —, CBS, Warner Bros ., gonzo Locations: cardigan, Pine, Coast, heartthrob, Miami, Casablanca
Donald J. Trump’s criminal trial in Manhattan has reached the third week of testimony, and there are only a few key witnesses who have yet to take the stand. There is Michael D. Cohen, the Trump fixer who made that payment and is expected to be crucial for the prosecution. And there are several employees of the Trump family business, who helped the then-president reimburse Mr. Cohen. The exact order of witnesses is unclear, but the trial is zipping along and the prosecution could wrap up in little more than two weeks. Ms. Daniels could testify as soon as this week, bringing her face to face with Mr. Trump, who for years has attacked her.
Persons: Donald J, Stormy Daniels, Trump, Michael D, Cohen, Daniels Organizations: Trump fixer Locations: Manhattan
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