Friday, January 4, 2013

5 Types of Legal Entities for Entrepreneurs | Think Entrepreneurship ...

Legal Entity - What entity should I form?Entrepreneurs starting a new business have a lot of options available to them when deciding which type of business structure is best for their new company. There are significant benefits and certain drawbacks associated with each of the various types of legal entities that an entrepreneur can choose as the ideal business structure for their company. Thus, it is critical to understand the various aspects of these different legal entities and whether they may work for your company.

  • ?Limited Liability Company (LLC): An LLC is a business structure that combines elements of both corporate and sole-proprietor or partnership structures to create a dynamic, flexible legal entity that is particularly well-suited for individual owners. LLCs provide their owners with limited liability, meaning that debts and other issues for which a business may be liable are held against the company itself, rather than its owners or shareholders. LLCs also provide an opportunity for pass-through taxation, which means that business revenues and profits aren?t taxed twice (as both personal and corporate income), but rather only once, as income for either the individual owner or member partners.
  • ?Limited Liability Partnership (LLP): Like an LLC, an LLP places a limitation on liability for claims against those involved in the partnership. This type of business structure is particularly popular for professional enterprises, such as law and accounting firms, which may be held liable for those they advise or represent in some cases. LLPs also limit the liability that any one partner may have for actions conducted by other partners. Furthermore, the members of an LLP are not required to pay self-employment taxes.
  • ?General Partnership: Partnerships are designed to be a simple business structure for companies with more than one owner. They require relatively little legal assistance to be formed, and taxes are pass-through, meaning that all income from the company is only taxed once. However, general partnerships render all partners liable for their company?s actions, including debts and court judgments.
  • ?C Corporation: C corporations, like LLCs and LLPs, provide substantial liability protection for the owners of the company, in this case the shareholders. Most large companies choose to follow the corporate model, simply because managing the various facets of taxation and liability for a business of any substantial size is considerably more difficult under other business structures. However, C Corporations are taxed on their income as a company, and the individual owners of the company are also taxed on the income they make as a result, making the overall tax burden for many C Corporations substantial.
  • ?S Corporation: S corporations combine many of the most desirable elements of the various business structures. They provide owners or shareholders with limited liability for corporate debts and other issues, and they allow for pass-through taxation of corporate income. For this reason, many companies have begun to choose this form of business for its convenience and practical benefits.

As each form of business varies, it is important for an entrepreneur to consider the needs of their company along with their needs as a business owner when choosing a business structure, whether it is one of these five main forms or another form not mentioned here.

?Author Bio
Nikita Dawson is an avid writer for various legal blogs. She contributes to personal injury, bankruptcy, and business attorney websites.

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Source: http://www.thinkentrepreneurship.com/5-types-of-legal-entities-for-entrepreneurs/

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Wednesday, January 2, 2013

AP source: Price, Rays agree on 1-year deal

(AP) ? David Price got a hefty raise for winning the AL Cy Young Award.

A person with knowledge of the deal said Tuesday night that the three-time All-Star and the Tampa Bay Rays have agreed to a one-year contract worth just over $10 million, avoiding arbitration.

The person spoke on condition of anonymity because the team had not yet made a formal announcement. Price earned $4.35 million last season, when he went 20-5 with an American League-low 2.56 ERA.

The hard-throwing left-hander barely beat out Detroit's Justin Verlander to become Tampa Bay's first Cy Young winner. He tied Jered Weaver for the league lead in wins and winning percentage and was sixth in strikeouts with 205 in 211 innings.

The Rays are expected to announce the deal with 27-year-old later this week.

Price was the first overall pick in the 2007 draft out of Vanderbilt. He was promoted to the majors late the following year, when Tampa Bay made an improbable run to the World Series.

In 2010, he became the youngest pitcher to start an All-Star game since Dwight Gooden in 1986 and finished second to Seattle's Felix Hernandez in Cy Young balloting after going 19-6 with a 2.72 ERA.

The ace of one of the deepest rotations in baseball last season, Price will be counted on even more in 2013 following a six-player trade that sent right-handers James Shields and Wade Davis to the Kansas City Royals in exchange for four minor leaguers, including top prospects Wil Myers and Jake Odorizzi.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-01-02-Rays-Price/id-e9399e49a8ef491d893f4fdfeb412f99

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Markets rally after US 'fiscal cliff' deal

In this Monday, Dec. 31, 2012, photo, a trader works on the floor at the New York Stock Exchange in New York. World markets registered relief Wednesday Jan. 2, 2013 over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession. (AP Photo/Seth Wenig)

In this Monday, Dec. 31, 2012, photo, a trader works on the floor at the New York Stock Exchange in New York. World markets registered relief Wednesday Jan. 2, 2013 over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession. (AP Photo/Seth Wenig)

A Filipino trader blows a horn during the first day of trading at Philippine Stock Exchange at the financial district of Makati, south of Manila, Philippines on Wednesday Jan. 2, 2013. Stock markets in Asia registered relief Wednesday over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession. (AP Photo/Aaron Favila)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Jan. 2, 2013. The ?fiscal cliff? compromise, for all its chaos and controversy, was enough to send the stock market shooting higher Wednesday, the first trading day of the new year. (AP Photo/Seth Wenig)

A trader works on the floor at the New York Stock Exchange in New York, Wednesday, Jan. 2, 2013. The ?fiscal cliff? compromise, for all its chaos and controversy, was enough to send the stock market shooting higher Wednesday, the first trading day of the new year. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Jan. 2, 2013. The ?fiscal cliff? compromise, for all its chaos and controversy, was enough to send the stock market shooting higher Wednesday, the first trading day of the new year. (AP Photo/Seth Wenig)

(AP) ? Markets breathed a huge sigh of relief Wednesday after U.S. lawmakers reached a budget agreement that will stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession.

Stocks around the world started 2013 with hefty gains as investors welcomed the vote in the House of Representatives that made sure the U.S. does not go over the so-called "fiscal cliff." Though longer-term fiscal problems remain and President Barack Obama will likely face more battles with the Republican-dominated House, investors were relieved that the biggest near-term stumbling block to the world economy has been cleared.

"The degree to which the U.S. fiscal cliff was causing investors to repress risk appetite is all too clear on the first trading day of 2013," said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co.

On Wall Street, the Dow Jones industrial average spiked around 250 points, or 1.9 percent, to 13,349, while the broader S&P 500 index rose 1.9 percent too to 1,453.

In Europe, the FTSE 100 index of leading British shares closed up 2.2 percent to 6,027.37, its first foray above the 6,000 mark since July 2011. The CAC-40 in France rose 2.6 percent to 3,733.93 while Germany's DAX ended 2.2 percent higher at 7,778.68.

Earlier, in Asia, Hong Kong's Hang Seng index shot up 2.9 percent to close at 23,311.89, its highest finish since June 1, 2011. Australia's S&P/ASX 200 surged 1.2 percent to close at 4,705.90, its best finish in 19 months while South Korea's Kospi jumped 1.7 percent to 2,031.10. Japanese and Chinese markets were closed for public holidays.

The bill that Congress approved calls for higher taxes on income over $400,000 for individuals and $450,000 for couples, a victory for Obama. Earnings above those amounts would be taxed at a rate of 39.6 percent, up from the current 35 percent. It also delays for two months $109 billion worth of across-the-board spending cuts that had been set to start affecting the Pentagon and domestic agencies this week.

If lawmakers had not agreed by the Jan. 1, 2013 deadline on the new budget measures, more than $500 billion in tax increases would have hit the economy in 2013 alone. Government spending worth $109 billion would have been cut from the military and domestic spending programs.

Though fears over an imminent fall off the "fiscal cliff" have eased, investors still have a host of issues to worry about. The next possible point of contention will be in two months' time, when U.S. politicians will debate the debt ceiling and spending cuts that did not make it into the latest deal.

"No agreement would mean a technical default on U.S. debt in March," said Michael Ingram, market analyst at BGC Brokers. "The U.S. bond market would go into cardiac arrest."

Investors will also keep a close watch on any response from the credit rating agencies. After a fight in Congress to raise the debt limit in 2011, Standard & Poor's lowered the U.S. government's AAA bond rating, citing the lack of a credible plan to reduce the federal government's debt. It also voiced its concerns about the "effectiveness, stability and predictability of American policymaking."

Meanwhile, investors will be monitoring the state of the global economic recovery and Europe's ongoing battle to contain its 3-year debt crisis.

A better than expected monthly U.S. manufacturing survey from the Institute for Supply Management reinforced the underlying optimism in the markets, especially as investors shift their focus to Friday's payrolls report for December.

The ISM's index of manufacturing activity rose to 50.7 in December from 49.5 in the previous month. The rise was slightly more than expected in the markets and took the measure above the 50 threshold that indicates expansion.

"Nothing to dent the positive risk start to the year here," said Alan Ruskin, an analyst at Deutsche Bank.

While the evidence points to continued economic growth in the U.S., figures elsewhere highlighted the scale of the downturn in the economy of the 17 European Union countries that use the euro.

The manufacturing purchasing managers' index ? a gauge of business activity published by data provider Markit ? showed the eurozone's industrial sector remained mired in recession in December. The index fell to 46.1 from 46.3 the previous month. Anything below 50 indicates a contraction in activity.

How the European economy fares over the coming months will likely hinge on developments in the debt crisis. In the last few months of 2012, tensions eased largely in the wake of the announcement of a new bond-buying plan from the European Central Bank.

That has shored up the euro, which on Wednesday was down 0.1 percent at $1.3192, having earlier traded as much as 0.5 percent higher on the day.

Oil prices pushed higher, with the benchmark New York contract up $1.26 at $92.96 a barrel.

____

Sampson contributed from Bangkok.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-01-02-World%20Markets/id-9ace542999f6482e9c9eb3d92b0e8caa

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worldbeatCanada radio podcast for January 4, 2013 | Calcopyrite ...

Making resolutions and saying good-bye to a few bad habits? ?As long as you keep your weekly dose of world music included in the habits you keep.

Listen to this week?s worldbeatCanada radio podcast at the player here, or at the worldbeatcanada.com website,?here. Or, get the show at the?iTunes?store. And on?Mixcloud.

Hear these artists, and visit their websites by clicking on their names in the list below.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

?

Tags: Cal Koat, Calcopyrite Communications, world music, world music podcast, worldbeat music, worldbeatcanada radio podcast

Source: http://calcopyrite.com/?p=2506

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Tuesday, January 1, 2013

World looks to 2013 after violence, economic woes

Confetti flies over New York's Times Square after the clock strikes midnight during the New Year's Eve celebration as seen from the Marriott Marquis hotel Tuesday, Jan. 1, 2013 in New York. (AP Photo/Mary Altaffer)

Confetti flies over New York's Times Square after the clock strikes midnight during the New Year's Eve celebration as seen from the Marriott Marquis hotel Tuesday, Jan. 1, 2013 in New York. (AP Photo/Mary Altaffer)

Fireworks explode over Elizabeth Tower housing the Big Ben clock to celebrate the New Year in London, Tuesday, Jan. 1, 2013. (AP Photo/Kirsty Wigglesworth)

Fireworks light up San Francisco Bay as the west coast city rings in the New Year 2013. The Embarcadero was again the focal point of the New Year's celebrations as people from all over the Bay Area came to ring in the new year on Tuesday, Jan. 1, 2013. (AP Photo/San Francisco Chronicle)

Fireworks light up San Francisco Bay as the west coast city rings in the New Year 2013. The Embarcadero was again the focal point of the New Year's celebrations as people from all over the Bay Area came to ring in the new year on Tuesday, Jan. 1, 2013. (AP Photo/San Francisco Chronicle)

Confetti and other items from the New Year's festivities litters the street in New York's Times Square early Tuesday morning Jan. 1, 2013. (AP Photo/Tina Fineberg)

(AP) ? As the world rang in 2013 with spectacular fireworks displays and showers of confetti, the specter of economic uncertainty and searing violence dimmed some festivities and weighed on the minds of revelers hoping for a better year.

"With all the sadness in the country, we're looking for some good changes in 2013," Laura Concannon, of Hingham, Mass., said as she, her husband, Kevin, and his parents joined hundreds of thousands of people who celebrated the new year in Times Square on Monday.

Matias Dellanno, 37, of Buenos Aires, Argentina, stood in the middle of the square with his wife and 3-year-old son. His eyes caught the multicolored lighting illuminating the square just before midnight.

"I feel a completely new hope for 2013," he said. "It can't be any worse than last year, when my business lost clients. It was a rough year for everyone. The new year has to be better!"

Revelers with New Year's hats and sunglasses boasting "2013" packed the streets in the 35-degree cold to count down the first ball drop in decades without Dick Clark, who died in April and was honored with his name printed on confetti and on one of the crystal panels on the Times Square ball.

Syracuse University student Taylor Nanz, 18, said she and a friend had been standing in Times Square since 1:20 p.m. Monday. They hadn't moved from their spot because "if you leave, you lose your place," she said.

"It's the first time - and the last time," she said. "Never again."

Security in Times Square was tight, with a mass of uniformed police and plainclothes officers assigned to blend into the crowd. Police Commissioner Raymond Kelly claimed that Times Square would be the "safest place in the world on New Year's Eve," and officers used barriers to prevent overcrowding and checkpoints to inspect vehicles, enforce an alcohol ban and check handbags.

In the state capital of California, a midnight fireworks show was canceled after a fight at a Sacramento restaurant ended with two people fatally shot and three injured.

But in Las Vegas, police and about 300 Nevada National Guard troops kept the night peaceful, with only 13 people arrested. Sin City hosted sold-out concerts featuring Beyonc?, the Red Hot Chili Peppers and the Black Keys, and revelers jammed the Strip to watch as seven hotel-casinos unleashed identical eight-minute rooftop fireworks displays at midnight.

The celebrations on the West Coast took place nearly 24 hours after lavish fireworks displays lit up skylines in Sydney, Hong Kong and Shanghai.

In Myanmar, about 90,000 people gathered in a field to watch a countdown for the first time, according to organizers. The reformist government that took office in 2011 in the country, long under military rule, threw its first public New Year's celebration in decades.

In the United Arab Emirates city of Dubai, multicolored fireworks danced up and down the world's tallest building, the Burj Khalifa.

In Rome, Pope Benedict XVI celebrated with a vespers service in St. Peter's Basilica to give thanks for 2012 and look ahead to 2013. He said that despite all the death and injustice in the world, goodness prevails.

In Russia, spectators filled Moscow's Red Square as fireworks exploded near the Kremlin. In Rio de Janeiro, revelers dressed head-to-toe in white as dictated by Brazilian tradition flooded onto Copacabana beach for a concert.

In London, the chimes of the clock inside the Big Ben tower counted down the final seconds of 2012 and fireworks dazzled the sky above Parliament Square. Streamers shot out of the London Eye wheel and blazing rockets launched from the banks of the River Thames.

But parts of Europe held scaled-back festivities and street parties, the mood was restrained - if hopeful - for a 2013 that is projected to be a sixth straight year of recession amid Greece's worst economic crisis since World War II.

Festivities were canceled across New Delhi, the Indian capital, amid days of mourning and reflection about women's safety after a rape victim died on Saturday.

In Times Square, some revelers checked their cellphones for news of lawmakers' tentative deal to skirt the so-called "fiscal cliff," a combination of expiring tax cuts and spending cuts that threatened to reverberate globally. The U.S. Senate approved a bill to avert the cliff well after midnight, though a vote in the House was pending Tuesday or Wednesday.

The recent elementary school massacre in Newtown, Conn., and the devastation from Superstorm Sandy also mingled amid the memories of 2012.

"This has been a very eventful year, on many levels," Denise Norris said as she and her husband, the Rev. Urie Norris, surveyed the Times Square crowd waiting for the countdown show with Ryan Seacrest as host.

Seacrest remembered Clark and his legacy, saying it was one that would be continued, and that Clark himself had told him: "Seacrest, the show must go on."

Yvonne Gomez, 53, a physician from Grand Forks, N.D., glowed as she and her husband, 63-year-old potato farmer Gregg Halverson, took in the festivities in New York.

"I couldn't begin the new year in a more beautiful way," she said. "I married him two weeks ago and here we are in the middle of Times Square celebrating the new year ? two widowers who found each other."

For Elvis Rivera, of Manhattan, who stopped by Times Square to take photos, 2012 a death and job losses in his family. How did he feel about its end?

"Relieved," Rivera said.

___

Associated Press writers Hannah Drier in Las Vegas; Colleen Long in New York; Aye Aye Win in Yangon, Myanmar; Silvia Hui in London, and Ashok Sharma in New Delhi contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-01-01-New%20Year's%20Celebrations/id-5597e712cd3444d3bf66382eed261214

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Great China Mania Presents in Chinese Satellite TV National ...

By Marketwire .

Article Rating:

December 31, 2012 08:55 AM EST

Reads:

123

HONG KONG -- (Marketwire) -- 12/31/12 -- Great China Mania Holdings, Inc., (OTCBB: GMEC) (the "Company" or "GMEC") announces its artists' participation in a Chinese National Broadcast New Year variety show on Hunan Satellite Television ("Hunan STV").

Hunan STV is a Chinese provincial government satellite TV station launched in 1997 and is China's second most-watched channel next to CCTV. Currently, Hunan STV's signal covers most of China including Macau, Hong Kong, and Taiwan as well as overseas regions including North America, Japan, Australia and Europe.

"Our artist Mia Chan (http://youtu.be/RdLG-HTyRa0) will present in the variety show and performs in a DJ show section," Wai Hung Yau, CEO of GMEC, said. "It helps GMEC and our artists to gain exposure in China through a National Broadcast TV show."

About Great China Media Holdings, Inc.:

GMEC (OTCBB: GMEC) is an electronic content provider that provides leisure and lifestyle-related electronic contents through portal websites and major cell phone network operators. The Company also utilizes these electronic contents to produce traditional paper magazines. In order to support the provision of electronic contents, the Company operates an artist management company to leverage on the popularity of artists and celebrities in stories and event creations.

http://www.greatchinamania.com
http://www.gmegroup.com.hk
http://gmegroup.com.hk/artiste?task=artiste&mid=25

Safe Harbor Statement

Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "anticipate," "estimate," "project," "intend," "expect," "should," "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Great China Mania Holdings' actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Great China Mania Holdings' filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Great China Mania Holdings herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Great China Mania Holdings disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.

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Source: http://gov.ulitzer.com/node/2497398

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The PhoneJoy Play: A Gaming-Geek Device Makes a Larger ...

Posted by hipstomp / Rain Noe? | ?31 Dec 2012 ?|? Comments (0)

phonejoy-play-01.jpg

phonejoy-play-02.jpg

Whether or not you're interested in videogames, this device is kind of fascinating from an industrial design/interface design point of view. The PhoneJoy Play is essentially a portable input device with a slick mechanical design: The two holdable halves can spread sideways, connected by a telescoping mechanism. Your smartphone or mini-tablet can then be "docked" in the middle, and the variety of buttons and motion pads interact with your device wirelessly.

The reason I find this device interesting is because it's un-doing a very carefully-designed minimalism, and this is being heartily supported by a subset of users. (The PhoneJoy was recently Kickstarted over its $50,000 target). The original iPhone was the first touchscreen device to see real mass uptake, and we consumers were all blown away by the thing. It seemed so elegant to strip away all of the buttons, keys and switches we were used to on objects and have this beautiful, clean tapping experience. But there are limitations to what you can achieve with taps and swipes, and so we started seeing keyboard docks, stick-on joysticks, styluses and the like.

At its heart, the PhoneJoy Play is no different than a wireless keyboard you pair with your tablet: It provides physical buttons that can perform more precise tasks than you can by rubbing your finger against glass. But it is unique in that it's targeted specifically towards gamers. Which got me thinking, wouldn't it be neat to see this thing adopted for CAD applications, maybe with a whole new set of interface controls? Something beyond the mouse, 3D mouse or pen tablet most of us use?

While there are currently CAD applications for tablets, I've dismissed them as glorified document viewers, as swiping seems to allow only the most basic of CAD tasks. But I'd be very curious to try a PhoneJoy CAD device on my iPad. In my wildest dreams I'd be able to use the iPad's camera to capture photos of an environment; process those photos into a 3D drawing using an app like, say, Autodesk's 123D Catch; and use a PhoneJoy CAD device to clean up the design before sending it to a 3D printer to produce a model.

What do you think, are gaming geeks the only subculture that will seek out interface objects like this?

While the PhoneJoy Play has already been successfully Kickstarted, here's the pitch video to give you an idea of the device's inspiration and development process:

Source: http://www.core77.com/blog/ux/the_phonejoy_play_a_gaming-geek_device_makes_a_larger_comment_about_the_shortcomings_of_touchscreen_interface_design_24109.asp

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