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Recent criminal investigations of banks show that prosecutors are increasingly taking a hard look at financial institutions that allow themselves to be used by wrongdoers, from scam artists to terrorists. Banks, and myriad other entities deemed "financial institutions" under federal law, have an obligation to report suspicious activity to law enforcement. In what some consider a dramatic change in policy, prosecutors are increasingly willing to investigate and prosecute financial institutions for failing to meet this obligation -- even where the institution did not participate in the wrongdoing.
In our Dec. 2004 issue, in a News Brief about Santa Fe, NM's, new living wage law and its effect on franchisors, we wrote that Cold Stone Creamery was among the companies that had been identified as possibly paying sub-minimum wages. Douglas A. Ducey, chairman and CEO of Cold Stone Creamery, contacted <i>FBLA</i> to clarify that Cold Stone Creamery was not sued for violating the minimum wage law. Ducey added that the company's franchisee in Santa Fe raised the minimum wage to $8.50/hour "weeks" before our story was published "in spite of doubts whether the law applied." Ducey also pointed out "the potential for employees to earn even more than the minimum wage with customer tips."
Features
Is your franchise looking to penetrate new or emerging domestic markets? If so, your company should consider franchising in Indian Country. The $18-billion Indian gaming industry is rapidly transforming the face of tribal lands and drawing <i>millions</i> of people to the reservation for business, employment, or recreation. It is that enormous influx of people onto tribal land ' a "captive audience" of reservation consumers ' and a relaxed regulatory environment that make Indian Country ripe for franchising.
The world's most populous country, China, is opening its door to foreign franchisors, in accordance with its WTO commitments. To accommodate this new reality, the Chinese government has published a new franchise regulation. On Dec. 31, 2004, the Ministry of Commerce ("MOFCOM") published Measures for the Regulation of Commercial Franchise Operations (the "Measures").
Features
Highlights of the latest franchising news from around the country.
Highlights of the latest equipment leasing news from around the country.
How would you as a lessor like to increase your after tax income by millions of dollars? How would you as lessor like to increase spreads by 30 basis points? Would you like to do this without having to cut costs or take the risk of creating a new product, entering a new market and hiring lots of staff? The answer to these questions of course is "yes," and it sounds too good to be true as the way to get there is to use a gift from the IRS ' implement a Like Kind Exchange ("LKE") program in your leasing business.