Utilities and Property Tax Cases in California

A property tax case that is about ten years old, could cost the people of Los Angeles county, the tax payers, forty five million dollars.  Just this past June, LA County which is just north of Orange County, lawyers were preparing for what may be some of the largest payouts regarding the class action law suit regarding that tax of one hundred and seventy two million dollars.  This was a tax on utilities that was an illegal tax, imposed in 1991, without ever having been placed on a voting ballot.

Changes in taxes is required by law, to be up for a vote.  LA County was in the process of cutting budgets and tightening the belt on spending in response to the continued poor state of the economy, and this settlement is now going to cost them millions and millions.  … Read the rest

Hot Summers Concert in New York

While I’m staying at one of the New York Casino hotels during the summer, which can be a pretty unpleasant place to be. The humidity alone is unbearable, my hair will look atrocious, but I’ll be checking out the abundance of free outdoor concerts. I’ve located two that seem promising. The River to River Festival and the Central Park Summer stage.

I found River to River Festival on the Internet. It takes place each summer from June through August, at many different public venues which covers all of Downtown New York. Like from the southern most tip of Manhattan up to Chambers Street and across the island from river to river. There will be world class performing arts festivals with a broad sweep of programming and it’s all free. The reason for the events being free is to enhance the … Read the rest

The US Open is totally going green!

The US open tennis tournament has been focusing on its green initiatives to help educate people and make the tournament as eco-friendly as possible. The first thing that the tournament did was to hire on of the top environmental consultants and started to figure out how they could make the tournament more eco-friendly and how it could be done. The first thing that was done was to partner with the Evian water company and create ways to recycle for people who are attending the event. That way every time that someone buys and drinks a water bottle at the event they have the option to recycle it. The program had a goal of recycling about 500,000 plastic bottles and 20,000 aluminum cans at the tennis event.  The water company made sure to put about 80 receptacles around the event so … Read the rest

The Practice and Importance of Knowing Your Customer

In today’s world of business and international transactions, the importance of the ‘know your customer’ concept is becoming increasingly important.  Corruption has been addressed and combated throughout history, and with the advances made in the world of technology, this has become an element that companies must not overlook, and must continue to educate themselves about.  This involves the thorough practice of due diligence, by all members of the workforce.  This has become standard practice for the financial institutions, not only in the United States but throughout the entire world.  Clients, their intentions, and their actions must be identified.

This is in large part due the last few decades of the rise in terrorist activities and in the continued growth in the various ways to go about conducting the crimes of money laundering, bribery and extortion.  This has been an … Read the rest

Regulatory Compliance and the Gramm-Leachy Bliley Act

The Gramm-Leachy Bleley Act or the GLBA was passed ten years ago, in 1999 by the United States Senate.  This was an act that was created in order to facilitate a reform of financial institutions and the services in which they provide.  This was the brainchild of the Texas Senator, Phil Gramm.  Gramm set out to ensure that the services that were, and now are, being offered by the banking industry had a framework, a regulatory compliance guideline, from which to work.

This act extends to the firms and other financial providers along with the business conducted by the banks themselves.  The goal was to modernize the world of financial transactions and services and to put and end to the merger of insurance companies, banks and stock broker firms.  The removal of the policies and the regulations was … Read the rest

The Combined Efforts of Government Agencies

The U.S. Patriot Act was signed into law along with the Executive Order 13224, both of which grant new means and tools to enforcement agencies which are intended to assist in the combat against terrorism.  The law holds the financial institutions to responsibilities that they did not have previously.  Banks and financial institutions world wide are now required to monitor new and pre-existing accounts and clients, and they must share information they learn about their clients with other financial institutions as well as with the United States Government.  Transactions are forbidden with shell banks.  Shell banks are institutions that are not physical institutions.  Some shell banks are under the provision of banks that do exist physically in the United States, this is the only exception.  Foreign banks must also comply to the rules and regulations of the U.S. Patriot Act.  … Read the rest