Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: profit

Uber: The Smartphone App That Eats Taxis

 

iPhone apps

iPhone apps (Photo credit: ilamont.com)

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, June 4, 2014:

When software inventor and now venture capitalist Marc Andreessen looked at investing in Uber just after its launch, he said “Uber is the software [app that] eats taxis.” At the end of its fourth year, Uber is not only eating taxis, but providing thousands of new jobs for people every month. Last week Uber’s founder, Travis Kalanick said:

Just four years ago we set out to build a better option for people to move around cities: to make getting a ride safer, easier and affordable.

But Uber’s positive impact goes further. Hundreds of thousands of entrepreneurs are using the platform to build their own small business, resulting in a huge job growth engine….

The first rule to making a startup successful is to determine precisely and exactly who its customers are. With Uber, it’s both the customer needing a lift, and the driver providing it. The service is predicated on a simple premise:

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Michigan joins Other States in Raising Minimum Wage

Dollars

Seemingly determined to keep the state of Michigan near the bottom in employment rates among the fifty states, Republican Governor Rick Snyder signed into law Tuesday a bill to raise the state’s minimum wage by 25 percent. Snyder rejoiced that this was a good thing:

This is something that is good for Michigan. It’s good for the hard-working people of Michigan and I believe it is economically sound…

I commend my [Republican] partners in the legislature for finding common ground on a bill that will help Michigan workers and protect our state’s growing economy.

At present Michigan ranks 46th among the 50 states with an unemployment rate of nearly 9 percent. By preventing employers from employing those willing to work for less than the state’s new minimum wage, those willing workers won’t be employed. It’s the iron law of economics:

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Michigan Senator wants to close “Tax Inversion” Loophole

United States Senate election in Michigan, 2002

United States Senate election in Michigan, 2002 (Photo credit: Wikipedia)

The recent bid by pharmaceutical giant Pfizer to acquire British-based drug maker AstraZeneca has given the senior senator from Michigan, Carl Levin, just the opening he has been seeking: to offer his bill prevent such “tax inversions” from taking place. Said Levin:

It’s become increasingly clear that a loophole in our tax laws allowing these inversions threatens to devastate federal tax receipts.

We have to close that loophole.

If the deal between Pfizer and AstraZeneca (currently in doubt) actually takes place, the tax inversion would allow Pfizer to consider Great Britain as

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Senator Levin Castigates Caterpillar for Using Legal Loopholes

Caterpillar logo

Caterpillar logo (Photo credit: Wikipedia)

Using the power of the bully pulpit as chairman of the Senate Permanent Subcommittee on Investigations, Michigan Senator Carl Levin attacked Caterpillar on Tuesday for using loopholes in the law to save the company an estimated $2.4 billion in taxes since 2000. Executives from Caterpillar as well as the company’s accounting firm PriceWaterhouseCoopers (PWC) were called on the carpet for

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Tesla Sales Model Upsetting Traditional Auto Dealers

Tesla S, close-up on the rear.

Tesla S, close-up on the rear. (Photo credit: Wikipedia)

In Washington State, Elon Musk, the founder and CEO of Tesla Motors, has created a way to sell his cars without having to go through a car dealer: by persuading the state legislature to

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When the Free Market is allowed to Flourish, It Does

This article was first published at The McAlvany Intelligence Advisor on Friday, November 1st, 2013:

When the JOBS Act (Jumpstart Our Business Startups Act) was signed into law in April 2012, it was designed to create a “regulatory exemption” for crowd funded securities – a crack in the 6-inch thick slab of concrete the government regulatory agencies are determined to pave over every manner of entrepreneurial activity in the country – so that entrepreneurs could meet with capital largely free of regulations under Dodd-Frank, Sarbanes-Oxley, and other noxious restrictions on freedom.

It was highly controversial at the time, with the New York Times leading the way in an article entitled

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Turning the Clinton Foundation into Hillary’s Presidential Launching Pad

When consulting firm Simpson Thacher & Bartlett, better known simply as Simpson Thacher, completed its corporate review of the Clinton Foundation earlier this month, their conclusions were picked up by the New York Times. Authors Nicholas Confessore and Amy Chozick gently chided the Clintons for running a money machine allegedly designed to “strengthen the capacity of people throughout the world to meet the challenges of global interdependence” but which suffers instead from

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Is Bezos Buying at the Bottom?

This article first appeared at The McAlvany Intelligence Advisor on Friday, August 9th, 2013:

It was suggested here on Wednesday that Jeff Bezos and John Henry might have overpaid for their recent purchases of the Washington Post and the Boston Globe. Newspaper revenues have been declining for years, and more precipitously in recent years. The best minds in the business have been unable to halt that decline. Pay walls have offended readers who have the freedom to go elsewhere for their news. Package deals and bundling haven’t worked. The Drudge Report continues to gain ground at their expense and is now worth more (with just two or three employees) than

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Bezos and Henry May Have Overpaid for the Post and the Globe

This article was first published by The McAlvany Intelligence Advisor on Wednesday, August 7th, 2013:

With the announcements of the sale of the Boston Globe to Boston billionaire John Henry for a paltry $70 million and the sale of the Washington Post to Amazon’s Jeff Bezos for $250 million, some are asking if they might have overpaid.

The Globe sale was called, appropriately, a

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Declines in Trust and Revenues Force Sales and Spinoffs of Formerly Prominent Newspapers

The back-to-back announcements of the sale of the Boston Globe to Boston billionaire John Henry and the sale of the Washington Post o Amazon founder Jeff Bezos earlier this week continue to track the shrinkage of the newspaper business that has been going on for more than a decade. Henry bought the Globe from the New York Times for just $70 million, a fraction of the

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Another bad day for Haliburton

This article was first published at The McAlvany Intelligence Advisor on Friday, July 26th, 2013:

In its announcement that Haliburton, the huge international oilfield services company, was found guilty of destroying evidence and is being fined $200,000, the New York Times mentioned in passing that,

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Wal-Mart Shrugs: Pulls Plans to Build Stores in Washington, DC

Writing in the Washington Post on Tuesday, Wal-Mart’s regional general manager Alex Barron told Washington DC’s city council that if they voted to pass the Large Retailer Accountability Act (LRAA) his company would “not pursue [building] stores at Skyland, Capitol Gateway or New York Avenue” shopping centers and they would

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Securities Agency Sues Jon Corzine, former MF Global head, over theft of customer funds

The sanctions sought against Jon Corzine, the former head of MF Global, by the U.S. Commodity Futures Trading Commission (CFTC) in a lawsuit filed in U.S. Southern District Court in New York on June 27th should end Corzine’s career as a Wall Street manipulator and send him into

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50 years of Federal Regulations have Reduced Americans’ Standard of Living by 75 percent

The 20th annual snapshot of the federal regulatory state published by the Competitive Enterprise Institute (CEI) last month announced the arrival of an unhappy milestone: regulatory costs now amount to more than half of all federal spending. Put another way, the real cost of government in the United States is

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Marc Rich, the oil trader Clinton pardoned on his last day, is dead at 78

In announcing the death of 78-year-old international oil trader, Marc Rich, commentators around the world nearly ran out of descriptors, calling him “friend”, “pioneer,” “colorful”, “great”, “controversial”, a “buccaneer”, the “King of Oil”, and the “King of Commodities.” Others weren’t so kind, calling him a

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Once Reviled, Capitalism is Making an Extraordinary Comeback Worldwide

This article originally appeared at McAlvany Intelligence Advisor

 

Hidden inside an obscure study just released by Barclays is a nugget of huge importance that reflects a sea change in the growth of entrepreneurial capitalism. The results of this development could equal if not exceed those of the

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Lifting the Curtain on Booz Allen Hamilton and its owner, the Carlyle Group

According to writers Thomas Heath and Marjorie Censer at the Washington Post, The Carlyle Group and its errant child, Booz Allen Hamilton, have a public relations problem, thanks to NSA leaker Edward Snowden. By the time top management at Booz Allen learned that one of their top-level agents had gone rogue, and terminated his employment, it was too late.

For years Carlyle had, according to WaPo,

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US Now Produces More Oil than it Imports for the First Time since 1995

When Brantley Hargrove noted in the Dallas Observer on Thursday that the US produced more oil than it consumed during the last week in May (for the first time since February, 1995) he was awfully quick to give nearly all the credit to Texas. But he was proud, nevertheless:

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Snopes Misses Larger Story on Sales of Post Offices by California Sen. Feinstein’s Husband’s Company

When George Miller, writing for the Ventura County Tea Party on May 22nd, complained about the blatant conflict of interest that appeared in the report that California Senator Dianne Feinstein’s husband, Richard Blum, was in charge of selling off, on an exclusive basis, some 50 post office buildings belonging to the US Postal Service, he didn’t know that Snopes had already

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Calls to Privatize the FAA Follow Controller Furloughs and Airport Delays

It didn’t take long for calls to privatize the FAA to surface following the agency’s announcement on Sunday that due to sequester cuts of $637 million (out of its $16 billion budget), all 47,000 of its employees, including 15,000 air traffic controllers, were being furloughed. The resulting delays were especially noticeable at high-traffic centers like

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.