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Ohio Set to Vote on Ending Public Union Rights - (www.nytimes.com) The Ohio Senate is expected to consider a revised version of a bill to end collective bargaining on Tuesday, and union members gathering outside the Statehouse here Tuesday morning said they were bracing for the worst. Unlike similar legislation in Wisconsin, which exempts police officers and firefighters, the Ohio bill includes them — and is controversial for that reason. But Republicans say the legislation that seeks to eliminate long-held union prerogatives are part of broader austerity measures intended to reduce crippling budget deficits, of which public employee pensions have played a growing role. In Wisconsin, the political divide was expected to only widen on Tuesday as Gov. Scott Walker prepared to announce his budget proposal, which is expected to cut $1 billion in aid to local government over two years. By early Tuesday, critics of Mr. Walker were already gathering, as they have for two weeks, outside the Capitol. Security was tight, and only some people were allowed to enter. Mr. Walker, a Republican whose proposal to cut collective bargaining rights for public workers and increase their pension and health care contributions has set off a firestorm here, will present his budget in the state Assembly chambers. Some Democrats were already predicting that the cuts in his new budget might lead to still more protests, more disagreement, more of a split in this state’s Republican-dominated Capitol.
Britain at risk of another financial crisis, Bank of England chief warns - (www.telegraph.co.uk) Mervyn King says that “imbalances” in the banking system remain and are “beginning to grow again”. Mr King urges high street banks to take a better, longer term view towards their customers and to stop focusing on the need to “simply maximise profits next week”. He accuses them of routinely exploiting their millions of customers. “If it’s possible [for financial services firms] to make money out of gullible or unsuspecting customers, particularly institutional customers, [they think] that is perfectly acceptable,” he says. The Governor criticises the “weight put on the importance and value of takeovers” and raises concerns that companies with good reputations have been “destroyed” in the search for short-term profits. Mr King expresses regret for not sounding a louder warning over his concerns before the last banking crisis.
Amazon to close Texas distribution center amid sales tax fight - (www.statesman.com) Online retail giant Amazon.com will close its suburban Dallas distribution center amid a dispute with the state over millions in uncollected state sales taxes, The Associated Press reported Thursday. The AP obtained an e-mail Thursday sent to Amazon employees by Dave Clark, the company's vice president of operations. Clark wrote that the center in Irving will close April 12 because of the state's "unfavorable regulatory climate." Last year the Texas comptroller's office sent Amazon a demand for $269 million in uncollected sales taxes, plus penalties and interest, from 2005 through 2009. The state contends that Amazon.com is responsible for the sales tax it has not collected on online sales made in Texas.
The state is seeking money from Amazon because its distribution center in Irving. Under a 1992 U.S. Supreme Court decision, that physical presence means Amazon potentially could be required to collect sales tax on transactions in Texas, according to legal experts.
ACLU, Amazon face North Carolina tax collectors in Seattle court - (www.seattletimes.nwsource.com) North Carolina tax collectors say they want Amazon.com to turn over the names and addresses of customers in their state and a description of all purchases so they can get the sales-tax money they're owed. But the American Civil Liberties Union argues that if Amazon is forced to comply with North Carolina's data demands, Internet users would start to think twice about buying controversial books, music and movies, violating their constitutional rights to free speech. Amazon, which is being audited in North Carolina, says it has provided massive amounts of data about sales to state residents since 2003, including the city, county and ZIP code to which an item was shipped, the product code and total transaction price, but it did not turn over names and addresses. Amazon says disclosure of such data would have a chilling effect on people's willingness to buy books, music and other "expressive works" that might reveal an intimate fact about them. The ACLU agrees, saying the seven Amazon customers it represents include an elected official in Asheville, N.C., who is an atheist. "The intervenors have bought books about divorce, atheism, personality disorders, cancer and numerous politically charged issues," said ACLU lawyer Aden Fine. "It's no surprise the intervenors want to keep that information private and free from government scrutiny."
Amazon.com Threatens to Cut Ties With California Affiliates Over Tax Issue - (www.bloomberg.com) Amazon.com Inc. (AMZN), the world’s largest online retailer, has threatened to sever ties with more than 10,000 affiliates in California amid a dispute with the state over proposed taxation of Internet purchases. Four state proposals aimed at forcing Seattle-based Amazon to collect taxes from residents may be unconstitutional and lead to job losses, Paul Misener, Amazon’s vice president for global public policy, wrote in a letter to the California Board of Equalization. Amazon’s affiliates put ads for the retailer on their websites and then get compensation when shoppers click through and buy items. Californians could still shop at Amazon.com, though state businesses would miss out on the ad sales, potentially hurting tax revenue, the company said in the letter. When other legislatures passed similar provisions, Amazon terminated its affiliate relationships and then collected no sales tax for those states, according to the letter. Amazon and California tussled over the tax issue in 2009, when the state considered a similar measure. Governor Arnold Schwarzenegger vetoed the bill after Amazon said it would terminate the affiliate relationships, according to the letter. That same year, Amazon cut ties with affiliates in Rhode Island, North Carolina and Hawaii over tax disputes. I am an Amazon affiliate in Illinois. I make 30 cents or something when someone buys a book on my recommended reading list. It does not cost anyone a penny.
OTHER STORIES:
Letter from FDR Regarding Collective Bargaining of Public Unions - (www.presidency.ucsb.edu)
12K State Workers Could Be Fired Without Budget Deal, Wisconsin Governor Warns - (www.foxnews.com)
U.S. Stocks Drop on Concern Over Oil Surge; Gold, Franc Rise - (www.bloomberg.com)
SLIDE PRESENTATION - Why We're Screwed - (www.businessinsider.com)
Nine Reasons Why Investors Are Nervous Now - (www.dailyfinance.com)
Broke Town, U.S.A. - (www.nytimes.com)
Amazon, North Carolina, ACLU Privacy Lawsuit Settlement - (www.dailytech.com)
Texas Sends Amazon a $269 Million Sales Tax Bill - (www.dailyfinance.com)
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