Anheuser Busch buys Goose Island chasing world conquest

Goose Island, a growing microbrewery with deep roots in the Chicago community, has just been obtained by Anheuser Busch, the megaconglomerate beverage company that makes the Budweiser brand of beers, among others. During the past few years, huge beverage companies like Anheuser, SABMiller and Molson Coors, have been purchasing out little breweries, which a lot of people are not amused with. Curmudgeons contend macrobrewers are trying to kill any freedom that anyone has in choosing their beer of choice.

Chicago microbrewery purchased by company for macrobrewing

About $38 million will be paid by Anheuser-Busch to get the Chicago Goose Island brewery, reports USA Today. Anheuser-Busch is the Budweiser beer macrobrewing family. Now, Goose Island will be an in-house brewery for Anheuser. Previously, Anheuser was already partnering with Fulton Street Brewery, maker of Goose Island beers, in a partnership. Right away, 52 percent of Goose Island's shares were acquired by Anheuser. Craft Brewers Alliance sold the other 42 percent off. There are a lot of small brew houses put together with Craft Brewers Alliance, reports BizJournal. The business was merged together in 2008 by Widmer Brothers and Redhook. Years back, InBev acquired Anheuser-Busch. The company owns about 32.5 percent of Craft Brewers Alliance Inc. now.

Distribution depends on large companies

To be able to be able to distribute more beer right now, Goose Island has sold control to Anheuser, reports the Chicago Sun Times. It is common for things like this to occur. Brewers typically need a distributer if the beer is going to sell. To be able to keep up with demand, because law mandates the distribution system, small businesses for instance Goose Island will often sell themselves to businesses such as Anheuser Busch/InBev, SABMiller and Molson-Coors that have controlling interests in distribution. About 5 percent of beer sells came from microbrewers in 2009, states Reuters.

Helping out the small brewers

An excise tax could very well be added to the first 60,000 barrels of beer produced with the Brewer's Employment and Excise Relief Act cutting supply by half. This is a bill the Senate in the U.S. is looking at. Breweries that make less than six million barrels a year would not have to pay as much of an excise tax. Currently, brewers pay a $7 excise tax per barrel on the first 60,000 barrels, and brewers that produce more than that pay an $18 per barrel excise tax. Brewers that produce six million barrels per year would pay only $16 under the new law, which would benefit craft breweries, however not corporate mega-brewers like Budweiser or Coors. A version for the House of Representatives is supposedly in the works. The price of craft beer would go down with this helping out those that want to buy craft beer.

Information from

USA Today

usatoday.com/money/industries/food/2011-03-28-anheuser-busch-goose-island.htm

Chicago Sun Times

newssun.suntimes.com/business/4552383-420/goose-island-brewery-sold-to-anheuser-busch.html

Biz journals

bizjournals.com/portland/news/2011/03/28/craft-brewers-sells-goose-island-stake.html

Reuters

reuters.com/article/2011/03/19/us-breweries-idUSTRE72I3E620110319?pageNumber=1

Sharia-compliant mortgage program in Minnesota ends

In Minnesota, mortgages targeted to increase home ownership have been ended. Pawlenty ended the program upon learning the program was compliant with Sharia law. The loan program only provided three mortgages between being set up by the Minnesota state housing agency and getting shut down by the governor. Pawlenty cited religious freedom as the reason for shutting down this Sharia-compliant mortgage program. Article resource – Sharia-compliant mortgage program in Minnesota ends by MoneyBlogNewz.

Minnesota avoiding paying interest

The African Development Center and Minnesota's state housing agency got together last year to start a new loan program. The program is for those who follow Sharia law and are low- to moderate-income families. The borrower does not have to pay interest, which is against their religion, when getting the "Islamic mortgages" or "Sharia mortgages" as several call them. The borrower would pay the state for the home at a higher rate than the state would purchase the home. There are no bank interest payments even though it’s the exact same as a 30-year fixed rate mortgage for payments. Another program that was meant to increase minority home ownership in Minnesota was the large program this came from.

Sharia loans are ridiculous according to governor Pawlenty

Governor Pawlenty ordered the program to be stopped after finding out about the Sharia loan program. This decision had many asking questions. Pawlenty's spokesperson said:

“This program was independently set up by the Minnesota state housing agency and did not make any mention of Sharia Law on its face, but was later described as accommodating it,” he wrote in an email. “As soon as Gov. Pawlenty became aware of the issue, he personally ordered it shut it down. The United States should be governed by the U.S. Constitution, not religious laws.”

The way a government uses tax dollars is one the government gets to decide. The Sharia-compliant financial goods aren't outlawed by the governor in this. State supported programs that support it are not allowed though.

The question of Sharia law

Disputes can legally be settled with Sharia law for Muslims. This was what a Florida judge ruled in the courtroom. Lawmakers are very concerned about this. Many people are saying that be recognizing the religious law, the "silent jihad" is being brought to the United States while other states are considering banning the Sharia law. Christian, Sharia and Jewish laws are all observed in the U.S.. As long as the state and federal law are not being violated, it is recognized. As long as religion isn't being imposed on someone, observing it is not against the Constitution. Pawlenty himself said, "The Constitution was intended to protect individuals of faith from government, not to protect government from people of faith." Pawlenty is worried that state taxpayer dollars are getting used to get Islamic residents who have a religion home ownership which is the issue with the Sharia mortgages.

Information from

Swamp Land

swampland.blogs.time.com/2011/03/25/is-there-a-double-standard-in-tim-pawlentys-disavowal-of-sharia-compliant-mortgages/

Minnesota Public Radio

minnesota.publicradio.org/display/web/2009/02/28/islamicfinancing/?refid=0

Great news bad news for customers as AT&T bids to purchase T-mobile

In a deal valued at $39 billion, AT&T has made a bid to buy T-mobile. This deal must be authorized by the Department of Justice and Federal Communication Commission, which may prove to be a challenge. The merger could help consumers in under-served areas. Most customers, however, would end up paying more for the exact same service. Source for this article – Good news bad news for consumers as AT&T bids to buy T-mobile by MoneyBlogNewz.

Merging T-mobile and AT&T

Right now, T-Mobile is pretty popular in the U.S. It is the fourth largest wireless provider. Owned by Deutsche Telekom AG, T-mobile was entertaining offers from both AT&T and Sprint-Nextel. AT&T has offered $39 billion in cash and stock to purchase and merge with T-mobile. Combined, the two cellular phone businesses would have about 130 million customers, more than Verizon Wireless. The merger cannot just happen. First the Federal Communications Commission and Department of Justice has to approve it. It isn't allowed for the business to be a monopoly. That is what the DOJ is for. The FCC must certify the AT&T / T-mobile merger wouldn’t violate communications law. These regulatory approvals could take a year or more.

May be good to have an AT&T merger

Consumers might face lots of good things with the AT&T/T-Mobile merger. Extended service may have to be provided to more areas with the new business. There would be less of a strain. You will find only so many wireless networks to go around. More high speed wireless broadband would be there. It could mean more supply. Expanded service for any wireless customers would be available also.

Not everybody will be better off with the AT&T merger

The short term loan of customers will provide much of the increased income of $3 billion a year, which is the expected increase. About 75 percent of U.S. wireless consumers would be served with this AT&T and Verizon. Wireless services would go up with this duopoly of services. AT&T's idea of limiting wireless data and charging higher costs would most likely take place with the change.

More and more money being put into wireless service

Outside the proposed merger of AT&T and T-mobile, the cost of wireless service is likely to continue increasing. Taxes, just like the federal government taxes, are charged on cell phone services by cities, states and municipalities. The tax on mobile phone service is about where the cigarette and alcohol tax is for most. On average, a 16 percent tax is how it works in the nation. It’s a regressive tax. That means the very same service costs a higher percentage of income for the poor than the rich. A three to five percent tax is on landline telephone service.

Citations

Bloomberg

bloomberg.com/news/2011-03-20/at-t-agrees-to-buy-deutsche-telekom-s-t-mobile-usa-unit-for-39-billion.html

KSE Focus

ksefocus.com/wordpress-content/uploads/2011/02/2010-Tax-Study-Final-Tax-Notes-PDF.pdf

Make sure no tax deduction goes overlooked

It’s easy to overlook tax deductions buried deep within the thicket of the United States tax code. Millions of Americans over-pay their taxes yearly by overlooking tax write-offs. However you don’t have to spend hundreds of dollars on a CPA to find a lot of tax deductible expenditures.

Tax deduction values

Instead of taking the standard tax deductions, about 46 million U.S. taxpayers will itemize. This means the government ends up losing about $1 trillion in tax dollars. Standard write-offs are used by 85 million working class individuals to take another $700 billion away. A lot of people who use standard deductions are most likely cheating themselves out of money that’s there for the taking in the U.S. tax code. Tax write-offs like mortgage interest, student loan interest, real estate property taxes and sales tax are used normally and regularly. Still, these people might be missing out on other write-offs.

Job expenses in tax deductions

Many people do not realize there is a tax break for any expenditures brought on when looking for a job. The United States job industry has been terrible recently meaning many people are missing this tax break. With an itemized deduction greater than 2 percent of total adjusted gross income, this can be put in itemized taxes. Any job hunting expenses could be deducted. This is only allowed if the job search is in the exact same industry as the previous job. Unless a first time job hunter is moving over 50 miles for the job with 14.5 cents per mile and moving expenses deducted, first time job hunters cannot deduct job hunting expenses. When going back to school for a career change, working class individuals can make a deduction too. Only $2,500 of college tuition is in the tax credit though. While a tax deduction lowers taxable income, a tax credit lowers the taxes owed. There’s a threshold of income for anyone getting a tax credit. This tuition tax credit is only! accessible if a couple filing jointly makes less than $80,000 or a single taxpayer makes less than $80,000.

Tax deductions a lot of people do not realize

Taxpayers often overlook tax write-offs related to home and family. As more Americans take care of their elderly parents, they become eligible for a substantial tax break. A dependent parent deduction is given to any person that provides over half of the financial support to their parents while paying more than 7.5 percent of adjusted gross income on this person. United States automakers have been offering a lot of incentives, and for those who purchased a new car in 2010 and earned $135,000 or less, the sales tax can be deducted, even without detailing write-offs. Up to $1,500 could be given in a green energy tax credit for tax payers. This is only if energy-efficient home improvements were done. The Making Work Pay tax credit was available too. The 2010 tax year is the last chance to take advantage of the Making Work Pay tax credit. This tax credit is often taken care of by employers who withhold less, but singles can take $400 off their tax bill and married couples ca! n save $800 by completing Schedule M along with the 1040 form.

Information from

MSN Money

articles.moneycentral.msn.com/Taxes/CutYourTaxes/the-19-most-overlooked-tax-deductions.aspx?page=2

U.S. News and World Report

news.yahoo.com/s/usnews/20110217/ts_usnews/10hiddentaxdeductionsexposed

ABC News

abcnews.go.com/Business/irs-taxes-2010-tax-credits-deductions-save-money/story?id=12908788&page=2

CFPB directorship post in doubt for Elizabeth Warren

The White House wants financial reform, but cannot seem to hit the mark when it comes to finding leaders for such companies as the CFPB and OFR, writes CNBC. CFPB candidate Elizabeth Warren is too extreme in the minds of GOP U.S. Senate critics, while OFR candidates are begging out of that six-year political mosh pit. Without distinct leaders at the helm, both groups will fail to fulfill their promise. Resource for this article – CFPB directorship post in doubt for Elizabeth Warren by MoneyBlogNewz.

Office of Financial Research, Consumer Financial Protection Bureau candidates do not would like to be considered

The OFR, which was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act, can be charged with improving the quality of financial data accessible to policymakers, such as information concerning credit cards, money advances and the payday cash advance industry.

The Office of Financial Research will not ever go anywhere if a chair cannot be found by the White House. Such high-profile candidates as Yale economist Robert Shiller (of Case-Shiller Home Price Index) have excused themselves from White House consideration because they think the six-year commitment and Washington war games aren’t worth the hassle.

CNBC got an anonymous source to talk about it. The source said a specific person is needed to fill the Office of Financial Research post.

The position “needs a tough-guy-like attorney" who isn’t afraid of dogfights, said the source.

Radicals not allowed

Republican critics of Warren claim that she’d be inappropriate for the office of Consumer Financial Protection Bureau director because of a "radical pro-consumer agenda" that would drown every consumer financial industry from credit card businesses to payday cash loan lenders in penalty fees. Many Republicans, Democrats and Independents are worried about Warren getting appointed although President Obama has Prof. Warren in charge of the search.

Republican Sen. Judd Gregg of New Hampshire told ABC News that even considering Elizabeth Warren for the CFPB position is "a terrible adulteration of the process." Gregg said it’s inappropriate to let that spending budget power as high as $500 million is given to someone who’s outside of Congressional oversight.

"My concern is that she would use the agency for the purposes of promoting social justice versus for the purposes of promoting better credit and having a stronger financial system," said Gregg.

Prospect would be Shelby for Republicans

Senate Republican Richard Shelby, the senior GOP member of the Senate banking committee, is considered the top Republican choice to head the CFPB. ABC News explains that Shelby was against putting on the Federal Reserve board Nobel Prize-winning Peter Diamond who’s an economist. Shelby also vetoed the nomination to the Federal Housing Financial Administration Joseph Smith. Democrat-favored people are definitely opposed by Shelby.

Information from

ABC News

blogs.abcnews.com/thenote/2010/09/sen-gregg-elizabeth-warren-will-pursue-social-justice-agenda-in-new-post.html

CNBC

cnbc.com/id/41899062

Credit.com

credit.com/blog/2010/11/new-watchdog-gives-sneak-peak-at-her-agenda/

‘Consumers need a cop on the beat’

youtube.com/watch?v=2UCWIyOQpes

Internal Revenue Service changes to less-draconian tax lien procedures

The IRS is easing its guidelines on property tax liens and giving delinquent working class individuals more possibilities to pay their tax bill. Tax liens, also as offer-in-compromise agreements could be affected by a higher level of tax debt necessary to implement those procedures. When delinquent taxes are paid, the IRS will withdraw, rather than release the lien, which will mitigate the negative impact on the taxpayer’s credit score. Source for this article – IRS raises the debt threshold that triggers a property tax lien by MoneyBlogNewz.

IRS calls off the dogs (sort of)

A lien is used by the IRS when unpaid tax debt is found from an American making it so the taxpayer's property is legally owned by the IRS. Priority is given over other creditors that might be owed by a taxpayer with the IRS tax lien. There has been a rise from $5,000 to $10,000 in the threshold for filing a tax lien due to brand new Internal Revenue Service guidelines. For back taxes of $25,000 or less, the Internal Revenue Service is also offering to withdraw a tax lien if the taxpayer establishes installment payments through direct-debit from a financial institution account. It is important that a lien is withdrawn rather than released. This keeps it so the taxpayer's credit history remains cleared. The previous practice of “releasing” the lien did not remove the tax debt from a credit history.

Even more Internal Revenue Service lien changes going on

The Internal Revenue Service made other tax collection changes for instance allowing offer-in-compromise agreements for taxpayers making it so less than the full amount of taxes is owed back. Individuals and small businesses have elevated the offer-in-compromise agreement qualification debt from $25,000 to $50,000. The annual income threshold for offer-in-compromise agreements has also been elevated from $50,000 to $100,000. Those applying for a compromise can be less frustrated with the agency too. This is because personal conversations rather than letters can be used for contact. Another thing the Internal Revenue Service changed is that individuals can now make one other payment instead. This is to an automobile payment.

Exactly what a National Taxpayer Advocate did

National Taxpayer Advocate Olson is most likely the reason for the IRS tax lien changes. The argument from Olson was always the IRS hurts people that are simply trying to pay debts. America's bad economy has lead to more lien filings. There was a 14 percent increase in 2010 alone. In 1999, tax liens were much lower. There has been a 550 percent increase ever since then. If tax debts get to the threshold while the taxpayer's ability to pay isn't there, the IRS will file liens. There is not anything to suggest tax liens are worth it. They seem to cost more than they’re worth.

Articles cited

Market Watch

marketwatch.com/story/irs-eases-up-on-people-who-cant-pay-tax-bill-2011-02-24

CBS Money Watch

moneywatch.bnet.com/investing/blog/make-money/stop-the-irs-from-destroying-your-credit-4-moves/870/

Journal of Accountancy

journalofaccountancy.com/Web/20113894.htm

Fannie Mae and Freddie Mac could return to making profit

Fannie Mae and Freddie Mac are starting to creep towards being solvent again. The government had to take control of the 2 troubled firms in 2008, and has lent both houses collectively more than $130 billion. However, dark clouds are on the horizon. The government intentions to possibly do away with the two government sponsored enterprises and a fresh round of foreclosures is on the horizon.

Loans given to keep Fannie and Freddie in business

A lot of bailout money went to Freddie Mac and Fannie Mae. They were able to continue business this way. Both home loan houses received a combined sum in excess of $130 billion to keep the real estate industry afloat. Right now, less money is being lost by the two corporations. ABC reports that this is a good sign. Only $2.1 billion was lost by Fannie Mae and $1.7 billion lost by Freddie Max in the last quarter of 2010. A $16.3 billion loss from Fannie and $7.8 billion loss from Freddie was reported in this very same time of 2009. Fannie has asked for $2.6 billion and Freddie has asked for $500 million in loans, even with these losses decreasing.

Stopping the mortgage giants from ruling

For decades, Freddie Mac and Fannie Mae have played a crucial role in the real estate industry. The 2 businesses purchase home loans and resell them as investments in order to free up capital for loan companies to lend more home loans. The government is intending to find ways to get Fannie and Freddie out of the mortgage sector. Just reducing involvement might help a lot. Treasury Secretary Timothy Geithner has admonished Congress to have a significant plan ready before trying to vote on anything, in accordance with USA Today. Geithner cautioned House Republicans eager to cut the programs that doing so could have an adverse effect on the real estate industry, including possibly destabilizing the housing finance industry entirely. Geithner has recommended a gradual program as the best course.

Not getting better yet

It is anticipated that Freddie and Fannie will not get much better. They are expected to get hurt even more soon. Until "robo-signing" cases are solved, several foreclosures can't be completed while about 50 percent of mortgages in the United States are owned by Fannie and Freddie while 90 percent were created in the last few years. In the next few years, Treasury Secretary Geithner thinks that housing prices will go up in the next few years, no matter what occurs with Freddie and Fannie, Reuters states. He also recommended that given housing conditions over the past few years, home buyers put larger amounts of cash down to ensure greater stability.

Information from

ABC News

abcnews.go.com/Business/wireStory?id=12995329&page=1

USA Today

usatoday.com/money/economy/housing/2011-03-01-fannie-freddie-geithner_N.htm

Reuters

reuters.com/article/2011/03/01/us-usa-housing-geithner-idUSTRE72000P20110301?pageNumber=1

Pentagon examining whether psyops were utilized on Congressmen

The Pentagon is examining whether members of Congress were victims of improper use of “psyops,” or psychological procedures by army personnel. Psychological procedures are methods of psychological manipulation, usually used against enemies, including propaganda and misinformation. These techniques were allegedly used to persuade members of Congress to be able to get more army funding.

Army requested it, says Rolling Stone

A scathing article in a recent issue of Rolling Stone says members of the army were requested to use “psyops,” or psychological procedures, techniques to persuade members of Congress visiting army outposts in Afghanistan to give the army more financing and additional personnel, in accordance with MSNBC. You will find accusations that Lieutenant General William Caldwell requested a study of Congressmen visiting in 2009 by a psyops team. This was done so as to discover a way to get more army troops and funding there based on how best to convince them. The head of the psyops unit, Lieutenant Colonel Michael Holmes, refused the order and was reprimanded for it.

Investigation commenced by Petraeus

Afghan operations commander General David Petraeus commenced a study. In accordance with Lt. Gen. Caldwell, it did not take place. He "categorically denies" it, the Washington Post states. The use of “psyops” or propaganda of any sort on United States citizens is illegal, and Intelligence Procedures personnel are well aware of that. There were specific Congressmen targeted for this. It included Senators Al Franken, Carl Levin, Joe Lieberman, Jack Reed and John McCain. There were more targets too. These incorporated Representative Steve Israel and Admiral Mike Mullen.

Exact same media reporter profiled General McChrystal

Michael Hastings wrote the Rolling Stone article. He said that the job was to “get the enemy to behave the way we want,” and Holmes said “when you ask me to use these skills on senators and congressmen you are crossing a line," for Lt. Col. Holmes. He added that individuals in the Information Operations field know from day one that propaganda and psychological manipulation are to be used only on the enemy. McChrystal left the Army past year because of another article written on General Stanley McChrystal by Hastings.

Information from

MSNBC

msnbc.msn.com/id/41753749/ns/world_news-south_and_central_asia

Washington Post

voices.washingtonpost.com/blog-post/2011/02/psychological_operations_manip.html

Rolling Stone

rollingstone.com/politics/news/another-runaway-general-army-deploys-psy-ops-on-u-s-senators-20110223?page=1

Bin Laden and drug laced coffee held responsible in Gadhafi speech

In a recent Moammar Gadhafi speech addressing unrest in Libya, the North African dictator held responsible the Libya demonstrations on odd factors. Gadhafi claimed that unrest was brought on by insurgents sent by Osama bin Laden and by the influence of hallucinogenic drugs. The grip that Gadhafi has on Libya is beginning to weaken.

Libya violence held accountable on Teenagers

On Libyan state TV, a presentation was given by Moammer Gadhafi that currently rules Libya. Reuters states that he pointed fingers. He said some specific parties were to fault for the issues in Libya. In the presentation on the telephone that was broadcast on the TV, Gadhafi explained that he thinks the North African nation had violence because of teens on narcotics while the troubles in Libya were due to Osama bin Laden and al-Qaida. He said in the rambling presentation that “their ages is 17″ and that al-Qaida agents were putting “hallucinatory pills in their drinks, their milk, their coffee, their Nescafe.”

Fights in a third of Libya

The Christian Science Monitor reports that Gadhafi and pro-Gadhafi forces do not have power over almost the whole eastern 3rd of Libya. Cities like Tripoli that are nevertheless controlled by Gadhafi have a lot of violence continuing while cities like Tobruq and Benghazi that are "liberated" now have become calmed by the belief that they aren't ruled by a dictator anymore. Demonstrators have been joined by Libyan army members during this. It has occurred due to orders from Gadhafi to shoot the protesters.

Jump in gas prices does not stop

Despite reassurances from Saudi Arabia that oil production would not be impacted by the Libyan revolts, crude gas prices are still ascending, and the New York Times claims it is due to the Libyan protests. Oil prices ended on Thursday, February 244, at $97.28. They were over $100 during the day at one point though. It is envisioned that unrest in the Middle East can lead to fuel prices increasing to $4 a gallon or more.

Citations

Reuters

reuters.com/article/2011/02/24/us-libya-protests-gaddafi-idUSTRE71N4NI20110224

Christian Science Monitor

csmonitor.com/World/Middle-East/2011/0223/Qaddafi-holds-no-sway-over-these-Libyans

New York Times

nytimes.com/2011/02/25/business/global/25markets.html?src=busln