Newsfeed 5.5.09

Duvall, congressmen voice opposition to proposed Wal-Mart (Times-Dispatch)
Actor Robert Duvall, who is related to Robert E. Lee and portrayed the Confederate general in the movie “Gods and Generals,” has some credentials when it comes to the Civil War. Duvall, 78, drew upon those connections yesterday to make the case against a proposed Wal-Mart Supercenter within a mile of the Wilderness Battlefield.

Plan would lower tax on businesses in downtown Norfolk (Virginian-Pilot)
City leaders have proposed an 11 percent reduction in the special downtown property tax that funds promotional efforts and pays for extra services. The tax is up for renewal every five years, but this time there’s an added twist: The city wants a portion of the money to go toward arts offerings in the downtown area.

Lacker: US Economy Will Expand Again Later This Year (WSJ)
Echoing cautiously upbeat remarks from other monetary policy makers, Federal Reserve Bank of Richmond President Jeffrey Lacker said Monday that the “severe” U.S. recession will end later this year. Two driving factors behind the eventual recovery are the “resilience” of U.S. consumers and the “power of monetary policy,” Lacker told a banking conference, adding that those forces are often underestimated.

Obama Targets Overseas Tax Dodge (Washington Post)
President Obama yesterday announced a major offensive against businesses and wealthy individuals who avoid U.S. taxes by parking cash overseas, a battle he said would be fought with new tax laws, new reporting requirements and an army of 800 new IRS agents.
Where Home Prices Crashed Early, Signs of a Rebound (NY Times)
Sacramento  was among the first in the nation to fall victim to the real estate collapse. Now it seems to be in the earliest stages of a recovery. Investors and first-time buyers, the traditional harbingers of a housing rebound, are out in force here, competing for bargain-price foreclosures. With sales up 45 percent from last year, the vast backlog of inventory has diminished.

How the ‘Walking Wounded’ Hurt Productivity (BNET)
Are your workers at their desks — but not doing much? If so, your team could be suffering from presenteeism. It refers to workers who come to work despite being ill, usually due to concerns about a loss of income or employment. But these “presentees” pose a big problem.

Duvall, congressmen voice opposition to proposed Wal-Mart (Times-Dispatch)
Actor Robert Duvall, who is related to Robert E. Lee and portrayed the Confederate general in the movie “Gods and Generals,” has some credentials when it comes to the Civil War. Duvall, 78, drew upon those connections yesterday to make the case against a proposed Wal-Mart Supercenter within a mile of the Wilderness Battlefield.

Plan would lower tax on businesses in downtown Norfolk (Virginian-Pilot)
City leaders have proposed an 11 percent reduction in the special downtown property tax that funds promotional efforts and pays for extra services. The tax is up for renewal every five years, but this time there’s an added twist: The city wants a portion of the money to go toward arts offerings in the downtown area.

Lacker: US Economy Will Expand Again Later This Year (WSJ)
Echoing cautiously upbeat remarks from other monetary policy makers, Federal Reserve Bank of Richmond President Jeffrey Lacker said Monday that the “severe” U.S. recession will end later this year. Two driving factors behind the eventual recovery are the “resilience” of U.S. consumers and the “power of monetary policy,” Lacker told a banking conference, adding that those forces are often underestimated.

Obama Targets Overseas Tax Dodge (Washington Post)
President Obama yesterday announced a major offensive against businesses and wealthy individuals who avoid U.S. taxes by parking cash overseas, a battle he said would be fought with new tax laws, new reporting requirements and an army of 800 new IRS agents.
Where Home Prices Crashed Early, Signs of a Rebound (NY Times)
Sacramento  was among the first in the nation to fall victim to the real estate collapse. Now it seems to be in the earliest stages of a recovery. Investors and first-time buyers, the traditional harbingers of a housing rebound, are out in force here, competing for bargain-price foreclosures. With sales up 45 percent from last year, the vast backlog of inventory has diminished.

How the ‘Walking Wounded’ Hurt Productivity (BNET)
Are your workers at their desks — but not doing much? If so, your team could be suffering from presenteeism. It refers to workers who come to work despite being ill, usually due to concerns about a loss of income or employment. But these “presentees” pose a big problem.

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