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☆ The $787.5 million settlement Fox has to pay is a big nut. But Fox's net cost for that will be much less.
▼ + stars: | 2023-04-20 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

Here’s why:Settlement payments are tax deductible if the company pays out of pocket. The corporate income tax is also about dollars and cents, not about judging behavior that led to the business expense in the first place. “Our income tax measures income, not probity,” said business tax expert Steven Rosenthal, a senior fellow at the Urban-Brookings Tax Policy Center. In addition, “Fox also may deduct their settlement payments for state and local income tax purposes,” Rosenthal noted. If Fox pays for an insurance policy that it expects will reimburse it for its settlement costs, then it may not deduct the cost of the settlement payment.

☆ Healthcare, college education, and childcare started getting worse decades ago. Now we're all finally feeling it.
▼ + stars: | 2023-04-08 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Americans are accruing billions in debt to pay for things like education and healthcare. But that would require shifting the idea of childcare, education, and healthcare and thinking of them as public goods — not businesses. That ultimately meant millions in funding for public childcare. "If the US health system was a country, it would be about the fourth-largest country in the world," Cooper said. There's much less government involvement in the US healthcare system than in other countries, Cooper said.

March 21 (Reuters) - The U.S. International Trade Commission said on Tuesday it would ban imports of SharkNinja Operating LLC robot vacuums that infringe a patent owned by Roomba maker iRobot Corp (IRBT.O). The full commission upheld part of a trade judge's October decision that SharkNinja violated two of its rival's patents, affirming that SharkNinja's devices mimicked iRobot navigation technology. Bedford, Massachusetts-based iRobot filed the ITC complaint in 2021 along with a lawsuit against SharkNinja in Boston federal court. Another patent lawsuit iRobot brought against SharkNinja in 2019 has also been paused during related proceedings at the U.S. Patent and Trademark Office. The ITC case is In the Matter of Certain Robotic Floor Cleaning Devices and Components Thereof, U.S. International Trade Commission, No.

☆ SVB's solvency problem different than the liquidity crunch facing markets, CreditSights' Jesse Rosenthal
▼ + stars: | 2023-03-15 | 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 EmailSVB's solvency problem different than the liquidity crunch facing markets, CreditSights' Jesse RosenthalJesse Rosenthal, senior analyst and head of U.S. financials at CreditSights, joins 'The Exchange' to discuss Silicon Valley Bank's unique insolvency risk, the contagion effect of SVB's downfall and the consequences of Fed actions regarding SVB.

☆ Ex-Honduras president bribed by prominent family, U.S. prosecutors say
▼ + stars: | 2023-02-10 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 10 (Reuters) - Former Honduran President Juan Orlando Hernandez was bribed by the country's prominent Rosenthal family, which owned a "massive" group of businesses in the Central American country, U.S. prosecutors said on Friday. Marlon Duarte, a lawyer for the Rosenthal family in Honduras, denied the allegations. The wealthy and politically connected Rosenthal family once controlled businesses including a soccer club, an automobile importer and one of the country's largest banks through their Grupo Continental conglomerate. Duarte noted that Hernandez was president when the Honduran government seized Grupo Continental's assets. "Juan Orlando Hernandez was against all the Rosenthals," Duarte told Reuters in a telephone interview, arguing that prosecutors would struggle to prove the family bribed Hernandez.

☆ Biden pushed a billionaire minimum tax – here's what Elon Musk would pay
▼ + stars: | 2023-02-08 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

"Pass my proposal for a billionaire minimum tax," Biden told Congress. Biden's billionaire tax, however, also hits top millionaires. Under the plan, households would calculate their effective tax rate for the minimum tax. The Biden administration says that aside from restoring "fairness" to the tax code, the billionaire minimum tax would raise $360 billion in added revenue over 10 years. Opponents say that aside from potentially being unconstitutional, the billionaire minimum tax would be difficult to administer – especially for an IRS already understaffed.

☆ Biden to revisit 'billionaire minimum tax' in State of the Union address
▼ + stars: | 2023-02-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Win Mcnamee | Getty ImagesPresident Joe Biden will again call for a "billionaire minimum tax" during his State of the Union address on Tuesday. However, Biden's original billionaire minimum tax didn't gain traction in Congress and it's even less likely to happen with a Republican-controlled House now, experts say. I view this billionaire minimum income tax as a messaging bill to highlight some of the problems with our tax code. "I don't see a lot of support for Biden's billionaire minimum tax on the Hill," Rosenthal said. Problems with the billionaire minimum taxEven with more support, Biden's billionaire minimum tax may face other hurdles, experts say.

Biden has said he intends to run for re-election but has not confirmed plans to do so. The hundreds of party faithful who gathered for the president's address shouted "four more years," as Biden took the stage. 'DON'T RUN JOE'At the DNC meeting, members are expected this weekend to overwhelmingly approve a reshaped 2024 primary calendar selected by Biden. The expected approval shows Biden's grip on the party and would make it even harder for a rival Democrat to mount a campaign to unseat Biden. Trump has already launched his 2024 campaign but is expected to face a primary challenge, including from his former United Nations ambassador Nikki Haley.

PHILADELPHIA/WASHINGTON, Feb 3 (Reuters) - Establishment Democrats gathered this weekend in Philadelphia have one message for U.S. President Joe Biden as he weighs running for a second term: Run, Joe, run. Biden has said he intends to run for re-election but has not confirmed plans to do so. At the DNC meeting, members are expected this weekend to overwhelmingly approve a reshaped 2024 primary calendar selected by Biden. "Joe Biden has repeatedly said he plans to seek renomination," RootsAction political director Sam Rosenthal said. Representative Debbie Dingell of Michigan, a competitive state Biden won in 2020, said that while there were "no divisive issues" in the party, Democrats needed to do a better job of talking to voters.

☆ The promising new Alzheimer's drugs to watch — and the far-out ideas that could reshape how we treat the disease
▼ + stars: | 2023-01-20 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

But amid some positive news, companies focused on Alzheimer's have said they've received an influx of investor interest. In trials, Leqembi was found to slow the rate of cognitive decline by 27% in Alzheimer's patients over 18 months. Eli Lilly's drug donanemab is expected to have data soon but just faced a setback from the FDAEli Lilly's donanemab is the focus of a late-stage trial. In the first half of this year, Eli Lilly is expected to release data for its Alzheimer's drug donanemab, which is being tested in a late-stage trial. Getty ImagesAduhelm, the first Alzheimer's drug to be approved in 18 years, was OK'd by the FDA in 2021 but has faced controversy.

☆ How Hasidic Schools Reaped a Windfall of Special Education Funding
▼ + stars: | 2022-12-29 | by ( Brian M. Rosenthal | ) www.nytimes.com time to read: +1 min

About 80 percent of requests for special education teacher support services last year came from the predominantly Hasidic and Orthodox districts, records show. But in Hasidic areas, more than a dozen parents told The Times that religious schools were driving the surge, including by paying for the lawyers who represent parents at hearings. Most parents spoke on condition of anonymity because openly criticizing Hasidic leaders can lead to being shunned by family and friends. Five hearing officers told The Times that in proceedings involving Hasidic children, some parents have not seemed to know what they were requesting, or why. “Please can you have her medical doctor write a prescription stating diagnosis of F84.0,” the email said.

Organizations: Times, Chabad Girls Academy, The Times Locations: Crown Heights

☆ New retirement account rules make it easier to tap savings early for emergencies
▼ + stars: | 2022-12-27 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

But they said the rules also amount to another source of so-called "leakage" that run contrary to the overall goal of retirement savings: to build a nest egg for the future. Participants can also access 401(k) savings via loans or non-hardship withdrawals. Non-hardship distributions also hit an all-time high in October — almost 0.9% of participants took one that month, according to Vanguard. And the share of workers taking 401(k) loans rose to 0.9% in October from 0.8% at the beginning of 2022. Beyond the apparent acute financial need among households, hardship withdrawals carry negative repercussions like tax penalties.

☆ Families can make a tax-free rollover from 529 plans to Roth individual retirement accounts starting in 2024
▼ + stars: | 2022-12-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Maskot | Maskot | Getty ImagesMillions of 529 accounts hold billions in savingsThere were nearly 15 million 529 accounts at the end of last year, holding a total $480 billion, according to the Investment Company Institute. watch nowHowever, that investment growth is generally subject to income tax and a 10% tax penalty if used for an ineligible expense. A transfer would skirt income tax and penalties; investments would keep growing tax-free in a Roth account, and future retirement withdrawals would also be tax-free. The rollover can only be made to the beneficiary's Roth IRA — not that of the account owner. Some education savings experts think 529 accounts have adequate flexibility so as not to deter families from using them.

House Democrats are scrutinizing why the Internal Revenue Service failed to fully audit Donald Trump's tax returns when he was in the White House, despite an agency policy mandating such a review. Some insight into the lapse came in a report Tuesday from the Joint Committee on Taxation (JCT), a bipartisan congressional panel that examined Trump's tax returns from 2015-20. The JCT report was issued Tuesday, after the House Ways and Means Committee voted to make Trump's 2015-20 tax returns public. Trump was the first president not to make his tax returns public since the 1970s. Neal is pressing for legislation that would require the IRS to publish and audit presidential tax returns.

☆ New York Yankees and Aaron Judge reportedly agree on nine-year deal worth $360 million
▼ + stars: | 2022-12-07 | by ( Wayne Sterling | ) edition.cnn.com time to read: +1 min

CNN —New York Yankees and slugger Aaron Judge have reportedly agreed on a nine-year deal worth $360 million, sources told ESPN, The Athletic senior writer Ken Rosenthal and MLB Network insider Jon Morosi on Wednesday. The slugger comes off a historic season with the Yankees. Maris hit 61 home runs 61 years ago in 1961, breaking Babe Ruth’s record of 60 set in 1927. Barry Bonds set the major league record with 73 home runs in 2001. Judge finished his stellar 2022 season leading Major League Baseball in home runs (62), RBIs (131) and runs (133) in 157 games.

The move was criticized by some mental health professionals who said the city should focus on long-term solutions and avoid treating people who refuse. New York Civil Liberties Union Executive Director Donna Lieberman also condemned the plan. New York City continues to contend with crime on public transit. Instead, he said, the city needs sustained engagement, housing, health care support and financial assistance for those in need. “In an ideal situation, you want mental health crisis teams to be the front line.

☆ Sandy Hook memorial opens nearly 10 years after 26 killed in mass shooting
▼ + stars: | 2022-11-13 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

NEWTOWN, Ct. — A memorial to the 20 first graders and six educators killed in the Sandy Hook Elementary School shooting opened to the public Sunday, a month before the 10th anniversary of the massacre. It has become a custom in Newtown on anniversaries and other remembrances of the shooting to mark them with quiet reflection. Flowers lay next to the name of Charlotte Bacon, carved in the stone of a memorial dedicated to the victims of the Sandy Hook Elementary School shooting, in Newtown, Conn., on Nov. 13, 2022. Bryan Woolston / APLike some other victims’ relatives, Jennifer Hubbard saw the memorial in a private appointment before this weekend. Hold on.”Town voters approved $3.7 million for the cost of the memorial last year.

☆ This California startup says it can predict where wildfires might start—it's using that power in a surprising way
▼ + stars: | 2022-11-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Nobody can predict the future, but a San Francisco-based startup called Kettle seems able to predict where wildfires could start in California. That means Kettle provides insurance for insurance companies. But Kettle's focus on reinsurance, rather than selling its software directly to insurance companies, is unique, Manning says. Most reinsurers predict wildfire risk through a decades-old technique that relies on historical data, Manning adds. In other words, reinsurance companies do benefit large insurers — but they also make sure you're able to get the money you're owed if disaster strikes.

The Philadelphia Phillies are facing the Houston Astros in the 2022 World Series. 2022 World Series scheduleEvery game of the 2022 World Series will air on Fox, and the series will continue until one team wins four games and clinches the championship. Game Date & Time Channel Score Philadelphia Phillies at Houston Astros, Game 1 October 28, 8:03 p.m. ET Fox Philadelphia Phillies 6, Houston Astros 5 Philadelphia Phillies at Houston Astros, Game 2 October 29, 8:03 p.m. ET Fox Houston Astros 5, Philadelphia Phillies 2 Houston Astros at Philadelphia Phillies, Game 3 November 1, 8:03 p.m.

The Philadelphia Phillies will face the Houston Astros in the 2022 World Series on Fox. The 2022 World Series begins October 28, with a potential game seven scheduled for November 5. You can stream the World Series on Fox through services like YouTube TV, Sling TV, and Fubo TV. 2022 World Series scheduleEvery game of the 2022 World Series will air on Fox, and the series will continue until one team wins four games and clinches the championship. Game Date & Time Channel Philadelphia Phillies at Houston Astros, Game 1 October 28, 8:03 p.m.

☆ Mountain Girl’s heartbreaking memoir: An icon of the Sixties opens up about Jerry Garcia, Ken Kesey, and what the age of free love was really like
▼ + stars: | 2022-10-09 | by ( David Kushner | ) www.businessinsider.com time to read: +40 min

Now 76 and living in Oregon, Mountain Girl has gave us an exclusive look at her memoir. Altamont, the free concert that Mountain Girl and Jerry Garcia helped organized, was meant to revive the spirit of the Sixties. Today, 60 years since she took that ride with Neal Cassady, Mountain Girl is still forging her own path. Before I leave Kesey's farm, Mountain Girl and I walk outside to the old brown barn where Furthur now rests. But for Mountain Girl, it lives forever, an emblem of everything her generation believed in, and all that they achieved.

☆ Patagonia founder's big donation potentially saves him over $1 billion in taxes — and experts say it shows how the wealthy are able to 'entirely opt out of taxes'
▼ + stars: | 2022-09-16 | by ( Juliana Kaplan | Grace Kay | ) www.businessinsider.com time to read: +9 min

The donations could save the Patagonia founder's family over $1 billion in taxes, experts calculated. "Instead of extracting value from nature and transforming it into wealth for investors, we'll use the wealth Patagonia creates to protect the source of all wealth." It also might give Chouinard and his family a big tax break, experts who monitor such big transactions told Insider. A Patagonia spokesperson told Insider the Chouinard family did not ask to create a company structure to avoid taxes. Russell James, director of graduate studies in personal financial planning at Texas Tech University, said that the ultra-wealthy generally "can't even use charitable income tax deductions."

Eliza Shapiro is a reporter covering New York City education. She joined The Times in 2018 and grew up in New York, attending public and private schools in Manhattan and Brooklyn. @elizashapiro

Persons: Eliza Shapiro Organizations: Times Locations: New York City, New York, Manhattan, Brooklyn

To hear more audio stories from publications like The New York Times, download Audm for iPhone or Android. The Hasidic Jewish community has long operated one of New York’s largest private schools on its own terms, resisting any outside scrutiny of how its students are faring. But in 2019, the school, the Central United Talmudical Academy, agreed to give state standardized tests in reading and math to more than 1,000 students. Students at nearly a dozen other schools run by the Hasidic community recorded similarly dismal outcomes that year, a pattern that under ordinary circumstances would signal an education system in crisis. But where other schools might be struggling because of underfunding or mismanagement, these schools are different.

Organizations: New York Times, Central United Talmudical Academy

☆ The Easiest Ways to Declutter Your Home Office
▼ + stars: | 2022-06-03 | by ( ) www.wsj.com time to read: +7 min

Kick the Clutter Habit and Completely Organize Your Life for Good.” Beyond that, clutter can drag you down emotionally. According to New York City-based organizer Lisa Zaslow, founder of Gotham Organizers, is what we buy for our home office. That’s the only place where pens go—and only good pens at that. This acrylic add-on, which can sit on the desk surface and hold standard-size paper and smaller office items, is a favorite of Rosenthal’s. It’s like a little mobile office and when you don’t want it in the room, you can just roll it away.”

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