The house legislative body has just taken action to save 22 million tax payers thousands of dollars by making adjustments to the alternative minimum tax law. This law, from the end of the 1960′s was originally intended to guaruntee that no one, especially the wealthy, escaped paying any tax. When written, it was flawed because it did not account for inflation. Senate representatives applauded this new revision for not creating new taxes in compensation for the lost revenue.
Today, the Dow Jones dropped 340 points as the US government released its poor report on the employment status of Americans, revealing a further weakening economy. The Department of Labor’s report showed a reversal of continued decline in unemployment, with an increase of 15,000 applications for unemployment during August.
Also reported were further slumps in retail markets, that pointed to necessity spending by consumers and an abandonment of demand for luxury items.
Google’s launching into the browser wars head on with the announcement of Chrome. It’s a web browser that boasts some nice features.
- sandbox tabs for security, meaning each tab will run in its own process in the operating system.
- integrated with existing web based apps like Google Docs, Calendar, Gmail, etc.
The Windows binaries are available, but while they have stated it will be available for the Linux-based Android on the mobile platform, no current Linux binaries or source are available. I’m disappointed because I’m not sure I’m excited enough to reboot to Windows in order to find out.
This speaks volumes of their software development efforts for integrating their business into the entire user experience, from search engine to operating system, mobile phone platform, personal computers, web browser, office document suite, groupware service provider, ad content provider, automated electronic language translation and so much more… are the only things missing routers, peripherals, and servers?
Today, Yahoo gave Icahn 3 seats on the board of directors, bringing the total to eleven. Icahn takes a seat as the second largest institutional shareholder. While Icahn has failed to get a majority of seats, the situation continues to be a disruption to their business. Icahn’s unable to negotiate on behalf of the company without Yahoo’s permission, and must be allowed to participate on any committee that deals with a possible deal topic. While Icahn has a history of success in these ventures, we still have yet to see if there will be any deal between Microsoft and Yahoo.
For the second month in a row, Chemical magnate Dow increased prices. This time by as much as 25 percent, compared to last month’s increase of 20 percent. Interestingly enough, they uncover a plan of surcharges for each truck delivery and railcar delivery. They offer consumers the same reason so many other business do when raising prices : rising fuel costs.