In many rural Massachusetts communities, the population is aging and declining. Fewer jobs are available to attract young people.“We have to be looking at innovative new ways to bring some interest in the region, some interest in investing in these communities and creating jobs,” said Rep. Natalie Blais, D-Sunderland.Blais and Sen. Adam Hinds, D-Pittsfield, are proposing a bill, the Rural Jobs Act, that would give state tax breaks to investors who invest in companies that create jobs in rural Massachusetts.“Massachusetts in any given year gives $130 million in tax incentives in a range of industries, so one concern I have is who’s getting them and where are they going?” Hinds said. “This is an effort to say let’s add a program of tax incentives for investment in small businesses in small towns.”Hinds and Blais represent some of the state’s smallest, most rural communities, which often face different challenges than other parts of … [Read more...] about Western Massachusetts lawmakers consider new tax break for investors in rural businesses
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By Elizabeth Winkler May 7, 2018 7:30 a.m. ET Walmart ’s WMT 1.51% biggest deal in nearly 20 years is making investors nervous. The size of the deal, at $15 billion is one thing, but adding to the anxiety is the target: the biggest e-commerce platform in India, a land of infinite possibilities and endless disappointments. If approved, Walmart’s deal for a 75% stake in Flipkart would be the retailer’s biggest since it acquired British supermarket chain Asda in 1999, which it is now unwinding after years of struggles. Buying Flipkart would test Walmart’s ability to operate overseas, where it has had mixed success, and put it head-to-head with Amazon, the No. 2 e-commerce player in India. The deal is unlikely to plump profits or cash flow soon. Yet if Walmart is going to establish an e-commerce presence in one of the world’s fastest-growing markets, it is a necessary move. Investors with an eye to long-term strategy should be pleased. The future, … [Read more...] about India Should be Good for Walmart and Good for Investors, Some Day
Alex Milan Tracy/Sipa USA via AP Looking for news you can trust?Subscribe to our free newsletters. Cambridge Analytica, the data company at the center of an international controversy over how it used Facebook to obtain personal data from tens of millions of people, is shutting down. The company, which had consulted on Donald Trump’s 2016 presidential campaign, released a statement announcing it had begun legal proceedings to wind down its operations in the UK and the US. Cambridge released a report it commissioned from Julian Malins, a prominent UK lawyer, that absolved the company of any wrongdoing. Cambridge said “unfairly negative media coverage” had sent the company into a death spiral. “Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfully, which view is now fully supported by Mr. Malins’ report, the siege of media coverage has driven away virtually all of the Company’s … [Read more...] about Cambridge Analytica Just Went Out of Business. Don’t Worry, Its Owners and Executives Have Already Started a New Company.
Most of the attention that’s been paid to new rules requiring companies to publish a comparison between CEO and worker pay has focused on one number: The pay ratio. Headlines have zeroed in on high multiples — at Walmart, the CEO makes 1,188 times the median worker; at Mattel, the figure is 4,987 to 1 — or on the million-dollar paydays the CEO at the top of the org chart is getting. But the most interesting number companies now have to disclose is one getting the least attention. Companies have had to publish their CEO’s compensation for years, and it won’t surprise many that a retail behemoth with a massive base of hourly workers — or a toy manufacturer where a majority of employees are based overseas, many of them working in factories making toys — would have an eye-popping ratio between the bottom and the top rungs. Yet for the first time, companies are being forced to disclose how much they pay their median employee, offering a … [Read more...] about Looking for a bigger salary? These are the companies with the highest median pay
A Highland Park developer has emerged as the new company seeking to buy the land where the former Purple Hotel once stood, replacing the Chicago development corporation that couldn’t seem to make headway with Lincolnwood officials to get its project plans approved.It was announced at the April 17 Committee of the Whole meeting that Tucker Development Corporation is now the contract purchaser of the land at the corner of Touhy and Lincoln avenues, a switch from ZS Development which had been looking for months at buying the land.“Over the last two weeks we made contact with the property owner,” said CEO Richard H. Tucker, who founded the company in 1996. “They understood our interest. They understood our credentials. They had interest in moving quickly.”The announcement came after months of hearing from ZS Development as the contract purchaser for the site. The new buyer purchased the contract as of April 15, officials said at the meeting.The contract ZS … [Read more...] about New developer looking to buy Purple Hotel site in Lincolnwood