Government, Politics and the Economy
Three Things to Watch in the Second Half of '09
Halfway through the year is a good time to pause, reflect, and take inventory. We have probably survived the worst of the recession but the question is, what's next? Here are three things to keep an eye on. NYTimes.com
Tyson: More Stimulus Needed
According to Obama advisor Laura Tyson, the US should consider a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small.” Bloomberg.com
Management and Operations
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The Fair and Accurate Credit Transactions Act (FACTA) was passed under the Fair Credit Reporting Act back in 2003. The law requires that credit card receipts print only truncated portions of the credit card number used for the transaction. Businesses were given until 2006 to comply and since then can be hit with monetary penalties. They are also open to civil lawsuits, and that is the problem. The law has gone from being a tool to battle identity theft and credit card fraud to being a gold mine for trial lawyers who bring suit against small businesses that inadvertently violate the law.
America’s Best Companies believes that this is both a travesty of justice and a perversion of the law’s original intent. The following is a letter written by ABC President Jim Tracy, and sent to every senator and representative, as well as to the President, which outlines the problem and urges action to put an end to these litigious abuses. Here is the body of Jim’s letter:
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Government and Economy
Nothing of Substance for Small Business in Stimulus
The recently passed economic stimulus plan offers very little direct benefit to small businesses, but economists see those companies, rather than the stimulus, as their own cure for what is ailing them.
New SBA Chief Intent on Making Change You Can Believe In
Karen Gordon Mills, President Obama's new Small Business Administration head, will bring with her a financier's background and extensive hands-on experience as a small business advocate. Meet Mills and learn why she just might be the right person for the job.
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