Driving the Day: 2/22/12
Industry Poll Finds Broad Support for Easing Regulations on Business – The Hill
According to a poll for the National Federation of Independent Business, about 75% of voters think there are too many pending regulations. The poll also found more than six in 10 respondents think regulations are hurting small businesses, and around 70% responded negatively to a list of more than 200 "economically significant regulations." Government regulations continue to be an important topic as lawmakers work to strengthen the economy during an election year.
Dow Up Nearly 100% from Bear Market Lows of March 2009 – USA Today
The Dow Jones industrial average briefly broke the 13,000 barrier on Tuesday morning, extending its gains since the bear market low to nearly 100%. The Dow, the most closely followed stock barometer in the United States, has nearly doubled since hitting rock bottom in March 2009. The stock market was helped by news that Greece and euro zone leaders agreed on a bailout loan of 130 billion euros, removing the threat of a Greek default. On a less positive note, the blue-chip measure of 30 stocks first closed in April 2007 means the Dow has gone virtually nowhere over the past four years.
How Military Veterans Are Finding Success in Small Business – Entrepreneur
Military veterans are at least 45% more likely to become entrepreneurs than their counterparts with no active-duty experience, according to a 2011 Small Business Administration (SBA) study. While it is unclear why vets are more likely to start their own businesses, some hypothesize that military experience gives them the “skills and confidence to run high-stakes business[es].” Disabled veterans are also more likely to launch their own ventures in order to make a living while having the flexibility to accommodate their disability. There are many online resources to help veterans launch their ideas, including SBA.gov and VetBiz.gov.
Treasury to Release Corporate Tax Plan Wednesday – Boston Globe
President Obama will propose to lower the corporate tax rate while also eliminating loopholes and subsidies and levying a minimum tax on profits American companies garner overseas. The United States' 35% corporate tax rate is one of the highest in the world (second only to Japan), and the administration's plan will likely not lower the rate to 25% (per a House Republican proposal). Members of both parties say they favor refining the nation's individual and corporate tax systems, arguing rates are too high and too many deductions are available.
Small Business Financing May Suffer From Obama's Proposed Budget and Political Wrangling – Huffington Post
With the recent introduction of President Obama’s proposed 2013 budget, some lenders are now worried that the disagreement over how to allocate funds on Capitol Hill will result in inadequate loan-guarantee authority for the Small Business Administration (SBA) and U.S. Department of Agriculture (USDA) to meet the needs of small business owners. If guaranteed loans are greatly reduced for the SBA and USDA, small businesses need to be prepared. “[T]he borrower needs to worry if their loan will be approved before the program runs out of money," says Mike Rozman, co-president and chief strategy officer of BoeFly.com, a company that matches borrowers with lenders online.
In other news...
Just How Important Is Manufacturing? – Harvard Business Review
Euro-Zone Business Activity Shrinks Unexpectedly – The Wall Street Journal
Optimism Should Be at the Top of an Entrepreneur's Checklist – Huffington Post
Online Privacy Bill Remains Elusive – POLITICO
Nature Conservancy CEO Mark Tercek Advances Sustainable Capitalism – The Harbus
Watchdog Targets Overdraft Charges – The Wall Street Journal
Construction Jobs Rebound Amid Pick-Up in U.S. Home Remodeling – Bloomberg
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