Bandit Gang Writ Large

Millions spent to begin razing of 7,000 abandoned properties in Dayton

"Kevin Powell, the city’s acting manager of housing inspection, says officials plan to use $5.2 million to raze 475 abandoned properties by the end of September. The city knocked down 1,172 abandoned structures - single-family homes, strip malls, multi-unit buildings, commercial properties etc. — between 2009 and 2012, using money that included $8 million in federal funds. The average cost for a demolition, which includes asbestos removal, is $11,000. Abandon properties have a negative impact on the city’s tax collection, which are used to remove abandon properties and pay for other city services. 'It’s a complete circle that keeps eating upon itself,' Powell said." Continue reading →

Continue ReadingMillions spent to begin razing of 7,000 abandoned properties in Dayton

Candy maker Hershey pays $4 million for price-fixing

"US candy maker Hershey on Friday pleaded guilty to participating in a chocolate price-fixing scheme and paid a CAN$4 million (US$4.2 million) fine. The company entered the plea at the Ontario Superior Court and, according to the Competition Bureau of Canada, received lenient treatment in exchange for its cooperation in an antitrust investigation. Earlier this month, Canadian authorities also charged Nestle, Mars and a network of independent wholesale distributors in the case after a whistle-blower tipped authorities to the scheme. The alleged price-fixing involved popular brands such as Kit Kat, Coffee Crisp, Aero, Twix, Snickers, Bounty and M&Ms." Continue reading →

Continue ReadingCandy maker Hershey pays $4 million for price-fixing

Taxes Even Impact When We’re Born and When We Die

"Let's look at some truly remarkable examples of how taxes influence things that – at first glance – seem completely impervious to fiscal policy. Would anyone think, for instance, that taxes could impact the day people are born? This study isn’t an outlier. Other research has reached similar conclusions. Indeed, in some case the impact of taxation is found to be much larger. Let’s close by recycling some research that shows how taxes even influence when people die. When Australia repealed the death tax back in the 1970s, researchers found that people lived longer in order to protect family assets." Continue reading →

Continue ReadingTaxes Even Impact When We’re Born and When We Die

Attorney General hits up Donald Trump for donations while probing his school

"Attorney General Eric Schneiderman’s campaign hit up Donald Trump and his pals for contributions while he was investigating the real-estate mogul’s for-profit trade school for illegal business practices. The investigation began in May 2011 and, for more than two years, Trump aides claim Schneiderman’s office told them the case was 'very weak' and would 'go away.' While the probe was under way, Trump aides said their boss, his family and his associates were repeatedly approached for thousands of dollars in campaign donations by Schneiderman’s political operation. Trump aides say now they’re being informed Schneiderman’s office is filing a civil suit against the school." Continue reading →

Continue ReadingAttorney General hits up Donald Trump for donations while probing his school

IRS makes useless paperwork less onerous for U.S. Persons in one country

"You do the math: 190-odd other countries & territories, each with their own unique kinds of purpose savings accounts, most speaking languages other than English, and fewer than a million affected filers in each to lobby for change. How long will it be before U.S. Persons finally have the freedom to move to any country on Earth without incurring unreasonable paperwork requirements, and the folks in the District of Columbia can start figuring out what to do with all those non-filers who moved to Mars in the intervening centuries?" Continue reading →

Continue ReadingIRS makes useless paperwork less onerous for U.S. Persons in one country

World’s Nicest Traffic Cop Has Issued 25,000 Tickets With Zero Complaints

"53-year-old Elton Simmons has been a Sheriff's Deputy for Los Angeles County for just over 20 years. In that time Simmons has made more than 25,000 traffic stops and surprisingly, has not received a single complaint. Simmons says his motto is 'Do good, be good, treat people good', and receiving a ticket from him might actually make your day." Continue reading →

Continue ReadingWorld’s Nicest Traffic Cop Has Issued 25,000 Tickets With Zero Complaints

German beer brewers in decades-long price fixing scandal

"Bosses of large breweries in the country have admitted to investigators that a number of firms arranged to raise prices of their premium beer brands, according to reports in German magazine Focus. Until now, it was believed the price-fixing arrangements spanned only a two-year period from 2006 to 2008. Documents seen by Focus reveal that during an interrogation in January, Volker Kuhl, head of the Veltins brewery, said large breweries would pass the price-rising agreements along to smaller producers. The companies involved now face fines in the hundreds of millions of euros, Focus reported." Continue reading →

Continue ReadingGerman beer brewers in decades-long price fixing scandal

Dubai’s gold trade waits on India windfall

"UAE’s gold and jewellery trade aims to be a direct beneficiary as India imposes further controls on domestic consumption of the metal in all its forms. But the spin-off for local jewellers will not be confined to tapping demand from Indian shoppers who want to make use of the growing price differential. 'We have heard reports about new controls on gold purchases in Pakistan and higher taxes elsewhere in south-east Asia, all of which significantly raises the attractiveness of buying jewellery here and then taking it back to their home countries,' said Shamlal Ahmad, director of international operations at Malabar Gold and Diamonds." Continue reading →

Continue ReadingDubai’s gold trade waits on India windfall

German jailed for Julius Bär bank data theft

"A German citizen who began working as a contractor for the Zurich-based bank in 2005, admitted that he had gathered information about the bank's clients, including their names, addresses and account numbers, between October and December 2011. He had then compiled a list of German clients with assets of more than 100,000 euros, Swiss francs, British pounds or dollars, and passed it on to a retired German tax inspector. In exchange, he had been set to receive €1.1 million euros. He told the court he had planned to use part of his compensation to pay off his own back-tax debt to German authorities." Continue reading →

Continue ReadingGerman jailed for Julius Bär bank data theft

Additional $2.1M Seized from Mt. Gox Accounts – Now Over $5M Total

"The executed seizure warrant for Mt. Gox’s account with Dwolla was published, showing $2.9 million was seized by the US government. According to documents obtained today by TGB’s research staff from the records of the District Court of Maryland, more than $2.1 million was also seized from two of Mt. Gox’ Wells Fargo accounts – totaling to more than $5 million seized from Mt. Gox accounts by the US government. One of the accounts at Wells Fargo was registered to Mutum Sigillum LLC, the same entity associated with the Dwolla account. The second Wells Fargo account seized was in the name of Mark Karpeles himself." Continue reading →

Continue ReadingAdditional $2.1M Seized from Mt. Gox Accounts – Now Over $5M Total