Daily Report for Executives Index-Summary

MAINE

– Budget supplemental, governor proposes changes in estimated payments, telecommunications tax, 242:H–2 (12/17/08)
– Composite filing rules amended, 211:H–2 (10/31/08)
– Drinking water programs and construction of wastewater treatment facilities, voters approve bond issue, 215:B–5 (11/6/08)
– Gannett found to be unitary business, portion of sale of out-of-state cable division taxable (Me.), 224:K–1 (11/20/08); decision text, 224:TaxCore (11/20/08)
– Health care funding, voters appear to approve repeal of beverage tax hikes, insurer assessment, 215:H–4 (11/6/08)
– Hurricane Ike, tax deadlines postponed for those in disaster areas, 201:H–2 (10/17/08)
– Income tax brackets for 2009 revised, revenue agency publishes new tax rates, 201:H–2 (10/17/08)
– Withholding rules amended, 211:H–2 (10/31/08)

MANAGED CARE

– Medicare Advantage

– – Commissions announced by plans for brokers enrolling beneficiaries, Stark (D-Cal) asks CMS to take action to resolve concerns, 206:A–17 (10/24/08); Baucus (D-Mont) says giving agents incentive to switch beneficiaries into new plans puts seniors at risk, 207:A–12 (10/27/08)
– – Congressional Dems signal intention to enact deep Medicare managed care cuts, BNA Special Report, 221:C–2 (11/17/08)
– – Enrollment in private fee-for-service plans starting to slow while preferred provider organization growth picking up, analysts for MedPAC say, 235:A–24 (12/8/08)
– – Increased accountability and transparency needed for program that likely will be subject to reduced federal funding in 2009, speakers at briefing say, 227:A–20 (11/25/08)
– – Lower-than-expected costs allow plans to earn higher profits in 2006, GAO report, 239:A–17 (12/12/08)
– – Marketing rules

– – – Confusion prompts CMS to defer implementation of some requirements regulating compensation to sales and marketing agents, industry sources say, 193:A–23 (10/6/08); CMS issues new guidance to health care insurers to clarify marketing provisions, 197:A–19 (10/10/08); CMS issues second round of guidance, 204:A–35 (10/22/08); CMS rescinds guidance in advance of anticipated new regulation, 208:A–8 (10/28/08); CMS issues new regulations, 218:A–27 (11/12/08)
– – – Fraud, Dingell (D-Mich) and Stupak (D-Mich) investigate allegations that Health Net violated Medicare rules in marketing special needs plan, 200:A–19 (10/16/08)

– – Private fee-for-service plans

– – – Beneficiaries disenroll at higher rates than other Medicare managed care plans and can be left with larger bills for medical care, GAO report, 241:A–8 (12/16/08)
– – – Payments will average 16.6 percent more under Medicare in 2008 than traditional fee-for-service providers, report says, 203:A–6 (10/21/08)

MANUFACTURING

– Automakers' bailout

See MOTOR VEHICLES

– Canadian Dep't of Finance removes duties on imports of range of manufacturing inputs to provide support for various elements of Canadian manufacturing sector, 249:A–3 (12/30/08)
– Contract manufacturing, Subpart F rules

See CONTROLLED FOREIGN CORPORATIONS (CFCs)

– Domestic production activities

See DOMESTIC PRODUCTION DEDUCTION

– Durable goods orders, Sept., Commerce Dep't report, 210:EE–2 (10/30/08); text of Sept. data, 210:E–1 (10/30/08); text of Oct. data, 229:E–4 (11/28/08); Oct., 229:EE–2 (11/28/08); text of Nov. data, 248:E–1 (12/29/08); Nov., 248:EE–1 (12/29/08)
– Economic outlook

– – ISM report, Sept., 191:EE–2 (10/2/08); Oct., 213:EE–2 (11/4/08); Nov., 231:EE–3 (12/2/08); semiannual forecast, 237:EE–1 (12/10/08)
– – Manufacturers Alliance/MAPI quarterly survey, 201:EE–7 (10/17/08)
– – Mid-Atlantic region, Oct., Philadelphia FRBank report, 201:EE–5 (10/17/08); Nov., 225:EE–2 (11/21/08); Dec., 244:EE–3 (12/19/08)
– – N.Y. FRBank index of manufacturing activity, Oct., 200:EE–4 (10/16/08); Nov., 222:EE–3 (11/18/08); Dec., 241:EE–3 (12/16/08)

– Factory orders, Aug., Commerce Dep't report, 192:EE–1 (10/3/08); text of Aug. data, 192:E–1 (10/3/08); text of Sept. data, 214:E–1 (11/5/08); Sept., 214:EE–1 (11/5/08); text of Oct. data, 234:E–1 (12/5/08); Oct., 234:EE–1 (12/5/08)
– Industrial production, Sept., Fed report, 201:EE–4 (10/17/08); text of Sept. data, 201:E–15 (10/17/08); text of Oct. data, 222:E–1 (11/18/08); Oct., 222:EE–1 (11/18/08); text of Nov. data, 241:E–1 (12/16/08); Nov., 241:EE–1 (12/16/08)
– Pa. issues guidance on single fraction apportionment, 248:H–2 (12/29/08)
– Product safety and liability, manufacturers may provide certification in electronic format, CPSC's Nord says, 213:A–5 (11/4/08)
– Tax cut urged by, NAM and Manufacturers Alliance to ease “cost burden” on U.S. factories, 220:G–3 (11/14/08)

MARYLAND

– Captive REITs, 2 corporations expected to pay $11.6M in back taxes, 199:H–1 (10/15/08)
– Combined reporting, first deadline for unitary groups set for Oct. 15, 198:H–3 (10/14/08); due date extended, penalties softened, amendments to Emerg. Regs. issued, 212:H–1 (11/3/08)
– Health care reform advocates want payroll tax hike to expand insurance coverage, 220:H–2 (11/14/08)
– Nordstrom's trademark holding companies have taxable nexus (Md. T.C.), 210:K–1 (10/30/08); decision text, 210:TaxCore (10/30/08)
– Water pollution

See WATER POLLUTION

MASSACHUSETTS

– Boston's Big Dig project

– – Epoxy manufacturer, Powers Fasteners, charged with manslaughter in aftermath of ceiling tunnel collapse, agrees to pay $16M to resolve civil and criminal charges (Mass. Super. Ct.), 243:A–13 (12/18/08)
– – Island Lath and Plaster pleads guilty to falsifying information about its status as minority business enterprise and about payments made to construction workers (D. Mass.), 227:A–4 (11/25/08)
– – McCourt Construction former managers who admitted defrauding project of $300K sentenced for conspiring to submit false bills (D. Mass.), 201:A–32 (10/17/08)
– – Modern Continental Construction settles with Atty. Gen. Coakley for $21M for damages resulting from fatal tunnel collapse, 221:A–16 (11/17/08)

– Budget shortfall, governor's plan relies on reserves, spending cuts, one-time tax settlements, elimination of telecom tax exemption, 202:H–1 (10/20/08)
– Climate change, state proposes emission labels for new car sales under state Low Emissions Vehicle (LEV) program, 217:A–14 (11/10/08)
– Combined reporting of business income, draft rules issued, 234:H–1 (12/5/08)
– Corporations and financial institutions, extension for some failure-to-file cases announced, 214:H–1 (11/5/08)
– Cybersecurity, state extends until May 1, 2009, deadline for compliance with data security rules, 221:A–17 (11/17/08)
– Disaster areas, Mass. to give automatic extensions to taxpayers in presidential declared disaster areas, 199:H–1 (10/15/08)
– Economic outlook, Mass. leads nation in its transformation into global, entrepreneurial, knowledge, and innovation-based economy, report says, 223:EE–3 (11/19/08)
– Health coverage, tax penalties for not obtaining revised for 2009, 247:H–1 (12/24/08)
– Historic rehabilitation tax credit, phased-in projects qualify, draft directive released, 218:H–5 (11/12/08); final directive issued, 241:H–3 (12/16/08)
– H&R Block stopped from foreclosing on “unfair” mortgages (Mass. Super. Ct.), 224:K–2 (11/20/08); decision text, 224:TaxCore (11/20/08)
– Income tax repeal on Nov. ballot would require 70 percent spending cuts, foundation says, 195:H–2 (10/8/08); Tax Found. report released, 212:H–3 (11/3/08); voters reject initiative, 215:H–1 (11/6/08)
– Interest rates for 1st quarter overpayments and underpayments reduced, 250:H–2 (12/31/08)
– Life sciences sector, draft guidance on tax incentives released, 195:H–1 (10/8/08); technical information release issued, 228:H–1 (11/26/08)
– Mutual fund service corporations, apportionment of income, proposed rules issued, 196:H–1 (10/9/08); state adopts rules, 250:H–1 (12/31/08)
– Nonprofits, Boston mayor calls for task force to study community benefits, 239:H–1 (12/12/08)
– Real estate value not part of corporate excise, Mass. Appellate Tax Bd. rules, 228:H–2 (11/26/08)
– Subprime mortgage foreclosures, preliminary injunction barring Fremont Investment and Loan from foreclosing on any “presumptively unfair” loan in state without court approval affirmed (Mass.), 239:A–10 (12/12/08)
– Tax amnesty, legislature approves bill that would require program, 213:H–1 (11/4/08); correction, 214:H–3 (11/5/08)
– Telecommunications industry

– – Income apportionment, draft alternative rules released, 190:H–2 (10/1/08); proposed rules issued, hearing set, 228:H–1 (11/26/08)
– – Public space use subject to local property tax, governor to submit legislation to codify Mass. Appellate Tax Bd. ruling, 202:H–1 (10/20/08)
– – Wireless carriers, guidance details property tax treatment, 205:H–1 (10/23/08)

– Vacation travel sales correctly apportioned to Mass., Appellate Tax Bd. rules, 213:H–2 (11/4/08)

MEAT AND POULTRY

– Beef

– – Growth-promoting hormones, WTO Appellate Body issues inconclusive ruling in battle between EU, U.S., and Canada over EU ban on imports, but U.S. and Canada sanctions may remain, 201:A–7 (10/17/08); USTR seeks input on possible changes to sanctions, 212:A–11 (11/3/08); EU preparing to initiate new WTO complaint, 239:A–6 (12/12/08)
– – Merger of meat packer JBS of Brazil with Natl. Beef Packing of U.S. challenged by DOJ and 13 states (N.D. Ill.), 203:A–13 (10/21/08)
– – Removing barriers to U.S. exports top trade issue, Baucus (D-Mont) cites ITC report, 195:A–21 (10/8/08)
– – South Korea, 3 major discount retailers to resume sales of U.S. beef, U.S. Meat Export Federation says, 229:A–4 (11/28/08)
– – Taiwan import restrictions

See TAIWAN

– Latin American meat exporters voice anger with proposal from Russia which would reserve most of its 2009 import quotas for suppliers from U.S. and EU, 225:A–2 (11/21/08)
– Mexico and U.S. reach agreement on meat processing and storage facilities for export, 235:A–23 (12/8/08)
– Pork, Russia raises quota on U.S. imports for 2009, and raises levies on non-quota imports, 240:A–12 (12/15/08)
– Poultry

– – European Union and U.S. may have to “start over” and find new way to resolve long-running dispute over EU ban on imports of U.S. poultry, 240:A–27 (12/15/08); proposal to ease EU ban on imports resoundingly rejected by member states, 244:A–5 (12/19/08); Obama (D-Ill) admin. may consider opening WTO case against EU, 246:A–14 (12/23/08)
– – Russian quota

See RUSSIA

– Russia and U.S. sign 5-year meat protocol, setting quotas for poultry, pork, and beef trade, 250:A–8 (12/31/08)

MEDICAID

– Alternative benefit packages for certain populations, CMS releases final rule that would allow states to create, 232:A–1 (12/3/08)
– Citizenship documentation requirements for beneficiaries have negatively affected patients at most community health centers, report finds, 207:A–7 (10/27/08)
– Coding system for health claims, Natl. Ass'n of State Medicaid Directors support federal rule to create, but urge CMS to delay implementation until 2013, 207:A–13 (10/27/08)
– Cost-sharing and premium charges, CMS issues final rule allowing states to increase, opponents say access would be diminished, 230:A–14 (12/1/08)
– Economic stimulus package

– – Increased federal spending for Medicaid possible, House Energy and Commerce panel told, 220:A–20 (11/14/08)
– – Senate proposal includes assistance for state costs, Reid (D-Nev), Byrd (D-WVa) announce $100B bill, 222:G–8 (11/18/08); further action, see LEGISLATION, FEDERAL, S 3689
– – State governors and legislatures call on Congress to include assistance for states in package, 231:A–7 (12/2/08); state cuts threaten coverage for one million, more federal funds necessary, report says, 239:A–21 (12/12/08); increase for states could reach $100B, Schumer (D-NY) says, 250:A–6 (12/31/08)

– Equal access provision of Medicaid Act, private lawsuit rejected (U.S., rev den), 194:A–16 (10/7/08)
– Fraud recoveries, Ala. challenges CMS mandate on states to return federal share (M.D. Ala.), 214:A–8 (11/5/08); CMS outlines states' refund obligations if state false claims act yields recoveries, 214:A–9 (11/5/08); recoveries totaled more than $1.1B in FY2008, DOJ says, 218:A–3 (11/12/08)
– Graduate medical education, for public hospitals, nullification of CMS rule on cost limits critical to preservation of safety net, Obama (D-Ill) admin. expected to withdraw rule, 223:A–12 (11/19/08)
– Low reimbursement rates result in cost shifting that adds nearly $1,800 annually to health care spending for average American family of four, study finds, 237:A–7 (12/10/08)
– Multiple-source drugs

– – Definition, CMS revises final rule to alter, 195:A–15 (10/8/08)
– – Federal upper limit (FUL) payment listings, CMS outlines how it will update after passage of law that prohibits new FUL rule from taking effect until Oct. 2009, 214:A–5 (11/5/08)

– Non-emergency medical transportation for beneficiaries, CMS releases final rule that would allow states to contract with brokers to provide, 242:A–23 (12/17/08)
– Nursing homes urge Congress to increase Medicaid funding in stimulus package, 205:A–15 (10/23/08)
– Outpatient hospital rule finalized by CMS, fewer services eligible for higher rates, 216:A–11 (11/7/08); Obama (D-Ill) admin. unlikely to move forward with rule, 223:A–12 (11/19/08)
– Reimbursing state Medicaid agencies for billions of dollars worth of health care coverage that was actually responsibility of Medicare program, CMS should issue new policy, states say, 208:A–15 (10/28/08)
– R.I. waiver application that will provide state with greater flexibility in implementing Medicaid program approved by CMS, 246:A–23 (12/23/08)
– SCHIP reauthorization

See CHILDREN

– Spending for program not sustainable, will reach $674B in 2017, CMS report, 202:A–14 (10/20/08)
– Spousal-support provision of Ill. Public Aid Code not preempted by Medicare Catastrophic Coverage Act (U.S., rev den), 195:A–11 (10/8/08)
– State legislative priorities discussed, BNA Special Report, 221:C–1 (11/17/08); state legislators and Medicaid directors propose array of solutions to relieve economic pressures, 241:C–1 (12/16/08); state spending expected to decrease for first time in 25 years, NASBO says, 241:C–4 (12/16/08)

MEDICARE

– Billing and diagnostic code system, Intl. Classification of Diseases, Tenth Revision (ICD-10), Tenn. Medical Ass'n and BlueCross BlueShield of Tenn. urge Congress to delay, 203:A–15 (10/21/08)
– Cardiac stenting procedure, CMS decides not to expand coverage, 200:A–10 (10/16/08)
– Cost increase control, AARP report examines different approaches, 237:A–25 (12/10/08)
– Doctors

See PHYSICIANS

– Durable medical equipment

– – Anti-fraud initiatives announced, CMS also names 4 permanent recovery audit contractors, 194:A–6 (10/7/08)
– – Anti-kickback statute, 2 equipment suppliers will not risk violations by entering into arrangements with hospitals to place inventory and licensed personnel on-site, HHS OIG concludes, 230:A–7 (12/1/08)
– – Petition filed by supplier who asked whether additional documentation other than certificate of medical necessity may be required before it can obtain Part B reimbursement (U.S., rev den), 194:A–13 (10/7/08)
– – Surety bonds as condition of participating as provider in Medicare program to be required of DME suppliers, under CMS final rule, 249:A–8 (12/30/08)

– False certifications in cost reports do not constitute false claims for payment that can trigger liability under False Claims Act (10th Cir.), 194:A–21 (10/7/08)
– Financial relationships with doctors, MedPAC to recommend to Congress that drug and medical device makers as well as hospitals be required to publicly report details, 217:A–11 (11/10/08)
– Fraud recoveries totaled more than $1.1B in FY2008, DOJ says, 218:A–3 (11/12/08); Health Care Fraud and Abuse Control Program recovered $1.8B in FY2007, HHS and DOJ annual report shows, 232:A–20 (12/3/08)
– Hospitals

See HOSPITALS

– Low reimbursement rates result in cost shifting that adds nearly $1,800 annually to health care spending for average American family of four, study finds, 237:A–7 (12/10/08)
– Medicare Advantage

See MANAGED CARE

– Part B drug benefit

– – Payments, HHS OIG report urges CMS to develop process to cut based on OIG's drug pricing studies, 246:A–2 (12/23/08)
– – Premium assistance for low-income beneficiaries

See LEGISLATION, FEDERAL, S 3560*

– Part D drug benefit

– – Audits of plan bids find problems, but findings did not result in bid adjustments, HHS IG report, 217:A–8 (11/10/08); Stark (D-Cal) scolds CMS for oversight activities surrounding plan bids and high cost sharing, 220:A–13 (11/14/08)
– – Benefit changes, information that plans send to enrollees during annual enrollment periods too complicated and does not effectively communicate details about coverage and cost changes, GAO report, 240:A–17 (12/15/08)
– – Changes to program likely to be included in broader Medicare bill in 2009, Ways-Means staff member says, 235:A–18 (12/8/08)
– – Coverage limit of plans reached by about one-third of enrollees in 2007, CMS pharmacist says, 216:A–5 (11/7/08)
– – Fraud, waste, and abuse, CMS to release updated guidance to plans in early 2009, 237:A–17 (12/10/08)
– – Marketing rules, confusion prompts CMS to defer implementation of some requirements regulating compensation to sales and marketing agents, industry sources say, 193:A–23 (10/6/08); CMS issues new guidance to health care insurers to clarify marketing provisions, 197:A–19 (10/10/08); CMS issues second round of guidance, 204:A–35 (10/22/08); CMS rescinds guidance in advance of anticipated new regulation, 208:A–8 (10/28/08); CMS issues new regulations, 218:A–27 (11/12/08)
– – Premiums, Waxman (D-Cal) asks CMS to provide data behind increases for 2009 plan year, 201:A–17 (10/17/08)
– – Price reporting rule oversight, comprehensive financial audits better tool than data checks for CMS, GAO report, 211:A–13 (10/31/08)

– Privacy, ending use of Social Security numbers on Medicare cards

See LEGISLATION, FEDERAL, HR 6600

– Surgical personnel mistakes, in 3 national coverage determinations, CMS says there will be no Medicare payments, 232:A–20 (12/3/08)

MEETINGS

See CONFERENCES AND MEETINGS

MERGERS AND ACQUISITIONS

See also REORGANIZATIONS, CORPORATE
– Accounting

– – Contingencies, FASB makes progress on combinations project, 210:G–14 (10/30/08); FASB seeking comments by Jan. 15, 241:G–1 (12/16/08)
– – Early preparation, FASB staff and CPAs urge for Statement 141R changes effective in Jan., 238:G–13 (12/11/08)
– – Not-for-profit entities

See EXEMPT ORGANIZATIONS

– – Push down debt accounting should be reflected in all acquisitions, SEC fellow says, 237:G–5 (12/10/08)

– Airlines

– – Delta Air Lines/Northwest Airlines, 210:A–16 (10/30/08)

– Alcoholic beverage industry

– – InBev/Anheuser-Busch, 221:A–25 (11/17/08); 224:A–8 (11/20/08)

– Banking

– – Bank of America/Merrill Lynch, 192:J–1 (10/3/08); 201:A–25 (10/17/08); 229:A–9 (11/28/08)
– – Losses following ownership changes

See BANKING

– – PNC Financial Services Group/Natl. City Corp., 207:A–20 (10/27/08); 240:A–5 (12/15/08); 241:A–31 (12/16/08)
– – Wachovia/Citigroup/Wells Fargo, 193:A–26 (10/6/08); 194:A–16 (10/7/08); 197:A–32 (10/10/08); 204:A–24 (10/22/08)

– Capital gains, can merger arbitrage be used to convert the “character” of gain? Viewpoint, 211:J–1 (10/31/08)
– CBS claim for real estate transfer exemption denied (N.Y. App. Div.), 223:K–1 (11/19/08); decision text, 223:TaxCore (11/19/08)
– Direct competitors, FTC updates investigative information, 232:A–14 (12/3/08)
– Drugs and pharmaceuticals

– – King Pharmaceuticals/Alpharma, 250:A–6 (12/31/08)
– – Teva Pharmaceutical Industries/Barr Pharmaceuticals, 246:A–4 (12/23/08)

– Electric utilities

– – Exelon/NRG Energy, 203:A–11 (10/21/08); 244:A–22 (12/19/08)
– – MidAmerican Energy Holdings/Constellation Energy Group, 200:A–26 (10/16/08)

– Fraudulent merger prospectus involving Thane Intl. and Reliant Interactive Media (U.S., rev den), 194:A–1 (10/7/08)
– Ice machine industry

– – Manitowoc/Enodis, 195:A–7 (10/8/08)

– Insurance

– – CCC Information Services/Mitchell Intl., 228:A–10 (11/26/08)

– Meat packing

– – JBS/Natl. Beef Packing, 203:A–13 (10/21/08)

– Mining

– – BHP Billiton/Rio Tinto, 206:A–6 (10/24/08); 223:A–2 (11/19/08)

– Pregnancy tests

– – Inverness Medical Innovations/ACON Labs, 248:A–10 (12/29/08)

– Premium, natural, and organic supermarkets

– – Whole Foods Market/Whole Oats Markets, 232:A–7 (12/3/08); 237:A–18 (12/10/08)

– Securities

– – Bank of America/Merrill Lynch, 192:J–1 (10/3/08); 201:A–25 (10/17/08)
– – ESL Partners/ZAM Holdings/AutoZone, 241:A–1 (12/16/08)

– Storage tank design and construction

– – Chicago Bridge & Iron/Pitt-Des Moines, 231:A–3 (12/2/08)

– Telecommunications

– – Sprint/Alltel, 214:A–17 (11/5/08)
– – Verizon/Alltel, 211:A–33 (10/31/08); 214:A–17 (11/5/08)

– Waste disposal

– – CCS/Newpark Resources, 206:A–8 (10/24/08)
– – Republic Services/Allied Waste Industries, 234:A–5 (12/5/08)

MEXICO

– Country-of-origin labeling for certain U.S. food products, Mexico and Nicaragua seek to join Canada in WTO consultations, 245:A–1 (12/22/08)
– “Dolphin safe” label for tuna, Mexico initiates WTO dispute proceedings against U.S., 207:A–1 (10/27/08)
– Export subsidies provided to broad range of Chinese industries

See CHINA

– Meat processing and storage facilities for export, Mexico and U.S. reach agreement, 235:A–23 (12/8/08)
– Refined sugar from Mexico, USTR announces reallocation of part of FY2008 tariff-rate quota, 208:A–7 (10/28/08)
– Wastewater treatment in border town of Tijuana, new infrastructure coming online to address discharge of raw sewage, San Diego City Council says, 239:A–29 (12/12/08)

MICHIGAN

– Budget cuts, governor to issue executive order, 227:H–1 (11/25/08)
– Business tax surcharge, repeal approved by Senate Finance Comm., 190:H–1 (10/1/08); Senate passes 2 bills to reduce burden, 192:H–1 (10/3/08); governor seeks to put off repeal until report on replacement revenue issued, 227:H–1 (11/25/08)
– House Speaker, recall measure on ballot, court dismisses challenges (6th Cir.), 196:K–2 (10/9/08); decision text, 196:TaxCore (10/9/08)
– Jobs, governor says tax incentives strategy helping, 199:H–2 (10/15/08)
– Nexus standards for business tax published, 213:H–3 (11/4/08)
– Property tax, refund action not barred by 30-day statute of limitations (Mich. Ct. App.), 249:K–1 (12/30/08); decision text, 249:TaxCore (12/30/08)
– Renewable fuels, governor signs bills with tax incentives for production, 249:H–1 (12/30/08)
– Sales tax, SSUTA panel issues preliminary ruling Mich. not in compliance with multistate pact, 221:H–1 (11/17/08)
– Solar-chip maker plans expansion, governor says state tax incentives key, 241:H–2 (12/16/08)
– Transportation infrastructure task force reports state faces funding crisis, 218:A–5 (11/12/08); task force issues report on funding options, 218:H–5 (11/12/08)

MINING

– Air pollution new source review, mining operations excluded from fugitive emissions reporting requirement, EPA says, 244:A–7 (12/19/08)
– Alaska, up to 1.9 million acres of federal land in southwestern part of state would be made available for development under BLM plan, 229:A–15 (11/28/08)
– Antitrust, South Africa Competition Comm'n recommends conditional approval of BHP Billiton's hostile for Rio Tinto, 206:A–6 (10/24/08); BHP Billiton submits acquisition plan to Japan Fair Trade Commission, 223:A–2 (11/19/08)
– Coal exports, IRS offers guidance on excise tax refund claims, 204:G–2 (10/22/08); Ann. 2008-103, 204:TaxCore (10/22/08)
– Fees coal industry pays on each ton of coal it mines, Dep't of Interior's Office of Surface Mining Reclamation and Enforcement reduces, changes formula for giving funds to states, 222:A–15 (11/18/08)
– Indonesia's government approves new law that gives local governments more control over natural resources, limits size of concessions, and requires domestic processing of minerals, 246:A–3 (12/23/08)
– Mont. ban on using cyanide in mining unconstitutional “taking” that curtails gold mining project without just compensation (U.S., rev den), 194:A–28 (10/7/08)
– Mountaintop mining

– – Bank of America to phase out lending to companies that engage in mountaintop removal mining, part of effort to increase environmental sustainability and reduce effects of climate change from fossil fuel, 238:A–26 (12/11/08)
– – Fola Coal mines in W. Va., preliminary injunction stops work after testimony at trial raised questions about scientific validity of Army Corps permitting strategy (S.D.W.Va.), 226:A–23 (11/24/08)
– – Stream buffers, Interior Dep't outlines preferred approach for new rules, 202:A–23 (10/20/08); EPA signs off on final Interior rule that would allow coal mining companies to dump excess rock or “spoil” into valleys and streams, 232:A–27 (12/3/08); Office of Surface Mining, Reclamation, and Enforcement to publish final rule governing dumping of excess rock or “spoil” into valleys and streams, 236:A–26 (12/9/08); OSM publishes final rule revising stream buffer zone regulations, 240:A–28 (12/15/08)

– Public lands, BLM publishes final rule that frees secretary of Interior from requirement to remove from roster of those available for mining at behest of Congress, 235:A–21 (12/8/08)
– Uranium exploration near Grand Canyon Natl. Park in defiance of congressional resolution, 3 conservation groups charge Interior Sec'y Kempthorne (D. Ariz.), 190:A–15 (10/1/08)
– Water pollution, citizen suit alleging Cherokee Mining polluted Black Warrior River in Ala. may proceed (11th Cir.), 221:A–31 (11/17/08)

MINNESOTA

– Ballast water discharge permit approved by Minn. Pollution Control Agency for Lake Superior should be rescinded, Minn. Center for Environmental Advocacy says (Minn. Ct. App.), 207:A–24 (10/27/08)
– Individual tax brackets adjusted for inflation, 246:H–1 (12/23/08)
– Interest rate on delinquent taxes drops, 224:H–1 (11/20/08)
– Isolated, occasional sales, rule amendments clarify tax treatment, 235:H–2 (12/8/08)
– Minneapolis bridge collapse in 2007, NTSB adopts final report that includes several new safety recommendations in response, 222:A–5 (11/18/08)
– Renewable energy, governor proposes breaks for companies that create “green” jobs, investors, 219:H–1 (11/13/08)
– Sales tax hike to pay for water, wildlife projects approved by voters, 215:H–2 (11/6/08)
– Title insurance, premium tax applies to portion retained by agents (Minn.), 235:K–1 (12/8/08); decision text, 235:TaxCore (12/8/08)

MISSISSIPPI

– Hurricane Gustav victims, IRS offers tax relief, 190:G–3 (10/1/08); news release, 190:TaxCore (10/1/08)
– Wetlands, mobile home park developer's criminal pollution conviction (U.S., rev den), 194:A–27 (10/7/08)

MISSOURI

– Communications

– – Prepaid telephone cards, out-of-state company subject to tax on sales to other company's employees working in state, 218:H–5 (11/12/08)
– – Wireless service provider subject to Jefferson City gross receipts tax (U.S., rev den), 236:K–1 (12/9/08)

– Impaired-waters list, EPA proposes to add 135 water bodies and associated pollutants, 190:A–9 (10/1/08)
– Insurance

– – Refund requests by out-of-state insurers deemed untimely (Mo.), 232:K–1 (12/3/08); decision text, 232:TaxCore (12/3/08)
– – Stop-loss policy premiums subject to direct premium tax (Mo.), 232:K–1 (12/3/08); decision text, 232:TaxCore (12/3/08)

– Internet

– – Downloading photos not subject to sales and use tax, 194:H–2 (10/7/08)
– – Education courses, materials online exempt from sales, use tax, 192:H–3 (10/3/08)

– Partnership income, guidance on sourcing issued, 192:H–2 (10/3/08)
– Renewable energy, ballot initiative would require investor-owned utilities to meet increasingly stringent goals for renewable energy over next 15 years, 212:A–9 (11/3/08); initiative approved, 215:B–5 (11/6/08)
– Storm and flooding in Sept., IRS postpones tax deadlines in disaster area, 222:G–9 (11/18/08); news release, 222:TaxCore (11/18/08); IRS adds counties to relief area, 236:G–11 (12/9/08)
– Stormwater discharges, ballot initiative would give state Dep't of Natural Resources more flexibility in providing funds for infrastructure improvements, 212:A–9 (11/3/08); initiative approved, 215:B–5 (11/6/08)

MONETARY POLICY

– Asset bubbles and widespread damage they cause, modernized bank regulation and supervision, not monetary policy, is best defense, Fed's Kohn says, 224:A–31 (11/20/08)
– Fed's latest term securities lending facility (TSLF) auction again draws oversubscribed bids for credit, 192:A–4 (10/3/08); Fed increases size of Term Auction Facility (TAF), beginning with auction scheduled for Oct. 6, 194:A–24 (10/7/08); Fed extends $138.1B in largest TAF loan yet, sets remaining auctions for year, 195:A–4 (10/8/08); Fed provides $37.5B worth of general Treasury collateral in latest oversubscribed TSLF auction, 197:A–10 (10/10/08); Fed provides additional $37.5B in latest oversubscribed TSLF auction, 200:A–1 (10/16/08); Fed provides $25B worth of general Treasury collateral in oversubscribed TSLF auction, 201:A–1 (10/17/08); Fed introduces Money Market Investor Funding Facility (MMIFF) to increase liquidity, 204:A–1 (10/22/08); Fed auctions about $113.3B under TAF, 204:A–4 (10/22/08); Fed provides additional $37.5B in short-term loans in another oversubscribed TSLF operation, 205:A–14 (10/23/08); Fed provides $37.5B in short-term loans in latest oversubscribed TSLF operation, 210:A–2 (10/30/08); Fed extends almost $25B worth of general Treasury collateral in most recent TSLF auction, 211:A–7 (10/31/08); Fed extends almost $139B in TAF credit in largest auction of short-term cash, 214:A–1 (11/5/08); crisis measures could swell Fed asset total to $3T by year-end, Dallas FRBank President Fisher says, 214:A–15 (11/5/08); Fed provides $37.5B in short-term loans in latest oversubscribed TSLF auction, 215:A–4 (11/6/08); Fed extends almost $50B in options for loans in latest oversubscribed TSLF Options Program, 218:A–23 (11/12/08); interest in short-term loans through TSLF dropped below offered amount for first time in months, results show, 220:A–8 (11/14/08); Fed auctions about $104.5B worth of one-month cash loans under TAF, 223:A–1 (11/19/08); Fed extends PDCF, AMLF, and TSLF to May 2009 because of lingering financial market stress, 232:A–2 (12/3/08); Fed schedules 2 more TAF auctions to extend program through Jan. 2009, 237:A–1 (12/10/08); Fed auctions about $63B in one-month cash loans under latest TAF, 242:A–1 (12/17/08); Fed provides about $103B in short-term credit in latest TAF, 250:A–1 (12/31/08)
– New Zealand Reserve Bank receives $15B from Fed in reciprocal currency arrangement, 209:EE–1 (10/29/08)
– Target federal funds rate, Fed Chrm. Bernanke signals possible rate cut, 195:EE–1 (10/8/08); minutes of FOMC Sept. 16 meeting released, 195:EE–2 (10/8/08); Fed and overseas counterparts come together for coordinated rate cut, 196:EE–1 (10/9/08); rate cut one percent, 210:EE–1 (10/30/08); minutes of Oct. 28-29 meeting released, 224:EE–5 (11/20/08); Fed to take key rate to zero by Jan., IHS Global Insight economists predict, 239:EE–8 (12/12/08); Fed expected to cut rate to 0.50 percent, recession forecast as longest since World War II, SIFMA report, 241:EE–4 (12/16/08); FOMC slashes rate to unprecedented range between zero to 0.25 percent, 242:EE–4 (12/17/08)

MONEY LAUNDERING

– Iranian weapons programs, Treasury Dep't and DOJ act against N.Y.-based Assa Corp., as front company controlled by Bank Melli Iran used to funnel cash, 245:A–7 (12/22/08)
– Nonbanks, IRS, FinCEN bank secrecy manual will ensure consistency, IRS official says, 237:G–11 (12/10/08)

MONTANA

– Northwestern Energy and state reach property tax compromise, 230:H–1 (12/1/08)
– State universities, voters approve property tax levy, 215:H–5 (11/6/08)

MORTGAGES

– Abusive lending practices, judges and juries more willing to award damages of $1M or more against lenders, even when fairly small amounts are at issue, financial services attorney says, 217:A–4 (11/10/08)
– Affordable mortgage modifications, FDIC outlines proposal that could be applied to roughly 2.2 million troubled plans, 221:A–12 (11/17/08); FDIC continues talks with Treasury Dep't, 225:A–34 (11/21/08)
– Bankruptcy judges modifying home mortgages, Senate Judiciary Comm. hears testimony on efficacy of allowing, 224:A–35 (11/20/08)
– Bond program changes under Housing and Economic Recovery Act, CRS issues report, 190:G–3 (10/1/08); text, 190:TaxCore (10/1/08)
– California

See CALIFORNIA

– Cancellation of debt income

– – Cal. and federal laws differ, FTB says, 208:H–2 (10/28/08)
– – Financial markets bailout

See LEGISLATION, FEDERAL, HR 1424*

– – Reporting, 36-month rule, application limited to financial entities, 217:G–1 (11/10/08); text of REG-118327-08, hearing notice, 217:L–1 (11/10/08); text of TD 9430, 217:L–2 (11/10/08); IRS revises temporary, final rules, 238:G–15 (12/11/08); correcting amendment, 238:TaxCore (12/11/08); IRS correction to TD 9430, 238:TaxCore (12/11/08); publication of correction, 248:G–6 (12/29/08); IRS Ann., 248:TaxCore (12/29/08)
– – Tax exclusion, CRS updates report to reflect legislative changes, 194:G–3 (10/7/08); text, 194:TaxCore (10/7/08)

– Covered bonds, SIFMA and American Securitization Forum announce creation of group to develop policies and practices to uphold public confidence and lobby on behalf of market, 237:A–29 (12/10/08)
– Credit union mortgage modification program that would be run through Central Liquidity Facility, NCUA Chrm. Fryzel asks congressional leaders to support request for Treasury Dep't assistance in setting up, 225:A–6 (11/21/08); NCUA seeks interest rate reductions from participants, 242:A–19 (12/17/08)
– Delinquencies, second quarter, N.Y. FRBank report, 228:A–18 (11/26/08); third quarter, Mortgage Bankers Ass'n report, 236:A–10 (12/9/08)
– Deposit insurance rules for mortgage servicers' accounts held at FDIC-insured banks and thrifts, FDIC board issues interim final rule that simplifies, 198:A–18 (10/14/08)
– Disclosures, Fed seeks comment on proposed changes to Truth in Lending Act rules that would require mortgage lenders to provide details no more than 3 days after receiving loan application, 235:A–10 (12/8/08)
– Fannie Mae and Freddie Mac takeovers

See GOVERNMENT-SPONSORED ENTERPRISES (GSEs)

– Financial system recovery plan

See FINANCIAL INDUSTRY STABILIZATION

– Foreclosures

– – Banks can earn Community Reinvestment Act credit by engaging in wide range of efforts to mitigate community impacts from rising home foreclosures, OCC's Wides says, 201:A–23 (10/17/08)
– – Fannie Mae and Freddie Mac agree to suspend foreclosures until after holidays, allowing time to implement GSE's mortgage modification program, 225:A–28 (11/21/08)
– – Fed Chrm. Bernanke calls for more federal intervention to shore up U.S. housing market, 234:A–34 (12/5/08)
– – Fraud, Cal. Atty. Gen. Brown announces arrests of 3 members of ring that allegedly duped homeowners out of more than $700K with false promises of helping stop foreclosure of their homes (Cal. Super. Ct.), 214:A–10 (11/5/08)
– – Hedge funds warn mortgage servicers not to participate in federal programs to stem home foreclosures, House Financial Services Comm. members charge, 208:A–10 (10/28/08)
– – House Financial Services Comm. holds hearing with industry participants on loan modifications and decreasing foreclosures, 219:A–35 (11/13/08)
– – Rescue scams, Tex. Atty. Gen. Abbott and state Sen. Estes introduce bill to strengthen laws protecting consumers, 238:A–8 (12/11/08)
– – TARP funds should be focused on homeowners facing foreclosure, Pres.-elect Obama (D-Ill) says, 233:A–13 (12/4/08)
– – Third quarter, Mortgage Bankers Ass'n report, 236:A–10 (12/9/08)

– Guaranteeing troubled mortgages, Senate Banking Comm. Dems urge Bush to have FDIC implement program, 211:A–28 (10/31/08)
– Higher-priced mortgages, Fed publishes final rule that sets new benchmark for lenders to measure and disclose information, 204:A–15 (10/22/08)
– Hope for Homeowners program seeks to help borrowers with “underwater mortgages” facing foreclosure, Bush admin. announces launch, 191:A–38 (10/2/08); rule allows use of affordable housing funds to finance, 196:A–32 (10/9/08); program changed to reduce costs for lenders and increase eligibility, 224:A–19 (11/20/08)
– HOPE for homeowners, Treasury official discusses REIT issues raised by program, 232:G–1 (12/3/08)
– Innovations in mortgage lending that took industry away from traditional 30-year, fixed rate model, FDIC Chrm. Bair discusses how turmoil in credit markets were connected, 195:A–34 (10/8/08)
– Interest rates, week ended Oct. 2, Freddie Mac report, 192:EE–2 (10/3/08); week ended Oct. 9, 201:EE–6 (10/17/08); week ended Oct. 16, 206:EE–2 (10/24/08); week ended Oct. 30, 211:EE–3 (10/31/08); week ended Nov. 6, 217:EE–4 (11/10/08); week ended Nov. 20, 225:EE–4 (11/21/08); week ended Dec. 4, 234:EE–5 (12/5/08); week ended Dec. 11, 239:EE–8 (12/12/08); week ended Dec. 18, 244:EE–4 (12/19/08); week ended Dec. 24, 248:EE–4 (12/29/08)
– Investments related to mortgages, SEC IG says enforcement staff in Miami Regional Office failed to carry out its statutory obligations by dropping case against Bear Stearns for improperly valuing, 199:A–26 (10/15/08)
– Loan conditions and closing costs, HUD issues final rule requiring lenders and brokers to provide potential borrowers with “good-faith estimate,” 219:A–37 (11/13/08)
– Market Composite Index of applications, week ended Oct. 10, MBA report, 200:EE–5 (10/16/08); week ended Oct. 31, 215:EE–2 (11/6/08); week ended Nov. 28, 233:EE–7 (12/4/08); week ended Dec. 5, 238:EE–5 (12/11/08); week ended Dec. 12, 243:EE–2 (12/18/08)
– Modifying loans

– – American Bankers Ass'n proposes using combination of TARP funds with regulatory exemptions to prevent snags for lenders who work with borrowers, 241:A–19 (12/16/08)
– – Fannie Mae and Freddie Mac

See GOVERNMENT-SPONSORED ENTERPRISES (GSEs)

– – FDIC Chrm. Bair defends effectiveness of modification efforts, and says creation of “fast-track, nationwide” program will be needed to end U.S. housing crisis, 243:A–17 (12/18/08)
– – HOPE NOW alliance of mortgage lenders and servicers on track to complete one million modifications for 2008, and says it expects to double those results in 2009, 246:A–20 (12/23/08)
– – Voluntary loan modification programs not working, and judicial modification through bankruptcy needed, panelists at teleconference sponsored by Natl. Ass'n of Consumer Bankruptcy Attorneys say, 244:A–13 (12/19/08)

– Privacy, FTC announces settlement with Premier Capital Lending accused of failing to provide adequate security to protect sensitive customer data, 216:A–2 (11/7/08)
– Restructured loans and assets, CAQ audit white paper addresses, 250:G–2 (12/31/08)
– Reverse mortgages, Conference of State Bank Supervisors and American Ass'n of Residential Mortgage Regulators release examination guidelines for reviewing lenders, 239:A–28 (12/12/08)
– State revenues from property taxes unlikely to be affected by federal government mortgage purchases, Tax Found. says, 190:H–2 (10/1/08)
– State Supervision Program launched by Conference of State Bank Supervisors, Mass. Division of Banks becomes first state agency to receive accreditation, 234:A–29 (12/5/08)
– Subprime loan crisis

See SUBPRIME MORTGAGES

– Tax lien relief, Comm'r Shulman announces speedier process for those trying to refinance, sell homes, 242:G–1 (12/17/08); IRS news release, 242:TaxCore (12/17/08)

MOTION PICTURES

– Blocking technology for video programming

See LEGISLATION, FEDERAL, S 602*

– Domestic production deduction

See LEGISLATION, FEDERAL, HR 1424*

– European Comm'n approves Italian tax breaks, 245:I–2 (12/22/08)
– Futures trading, Cantor Exchange files application with CFTC to operate Internet-based exchange to list movie box office revenue contracts, 237:A–30 (12/10/08)
– Ga. adopts changes to film and TV production credit, 239:H–2 (12/12/08)
– Ill. extends, expands tax credits for film, TV production, 241:H–1 (12/16/08)
– Iowa amends tax credit rules, 246:H–2 (12/23/08)
– N.Y. film production credit successful, report finds, 212:H–1 (11/3/08)

MOTOR CARRIERS

– Emissions

– – Bipartisan group of senators calls for tenfold increase in funding for grants to states to reduce emissions from 11 million diesel-powered trucks, 247:A–17 (12/24/08)
– – Cal., nearly one million heavy-duty diesel trucks and buses would have to meet tougher emission standards under CARB draft rule, 207:A–24 (10/27/08); CARB approves ruling, 241:A–9 (12/16/08)
– – Lifetime emissions monitoring systems for heavy-duty trucks beginning with model year 2010 to be required by EPA final rule, 234:A–17 (12/5/08)
– – Truck maker Navistar calls for delay in implementing more stringent heavy-duty diesel emissions limits, but Engine Manufacturers Ass'n opposes delay, 226:A–20 (11/24/08)

– Product safety and liability

– – Foreign-manufactured motor coaches operating in U.S., and standards of compliance considered at NTSB public hearing, 197:A–16 (10/10/08)
– – Improving motorcoach and school bus passenger safety, NTSB makes recommendations to NHTSA, 210:A–33 (10/30/08)
– – School buses, small buses will be required to have lap/shoulder belts, and all school bus seat backs will be higher than they are now under new rules announced by Sec'y Peters, 200:A–29 (10/16/08)

MOTOR VEHICLES

– Brazil's announces tax cuts to stimulate middle-class consumption, 240:I–4 (12/15/08); excise tax on truck sales also suspended, 245:I–3 (12/22/08)
– Cal. use tax on vehicles purchased out-of-state, SBOE explains new 12-month test, 219:H–3 (11/13/08)
– Economic outlook, GM and Ford announce massive third-quarter losses and new cost-cutting moves, cite weak economy and frozen credit markets, 217:EE–4 (11/10/08)
– Electric vehicles

– – Hybrid vehicles, tax credit

See LEGISLATION, FEDERAL, HR 1424*

– – Japan set to reinforce tax relief, subsidies, 219:I–1 (11/13/08)
– – Medium-speed vehicles for use on some city streets, NHTSA denies petition for new class, 202:A–9 (10/20/08)

– Emissions

– – Climate change

See CLIMATE CHANGE

– – Inspector pleads guilty to violating Clean Air Act by falsifying tests (E.D. Mo.), 244:A–12 (12/19/08)
– – Mercedes, Volkswagen models with advanced lean-burn technology certified for tax credit, 194:G–1 (10/7/08); IRS news release, 194:TaxCore (10/7/08)

– Ford sales to independent dealerships, imposition of unapportioned wholesaler's tax upheld (Del.), 239:K–1 (12/12/08); decision text, 239:TaxCore (12/12/08)
– Fuel efficiency

– – Gasoline-electric hybrids continue to lead in fuel economy, EPA and DOE report, 200:A–22 (10/16/08)
– – Loan program to help automakers build more fuel-efficient vehicles, NAM urges White House to expedite, 199:A–25 (10/15/08); DOE issues interim rule to allow it to begin accepting applications from manufacturers for $25B in loans, 216:A–4 (11/7/08); DOE to begin accepting applications from manufacturers, 218:A–25 (11/12/08); industry's financial woes may complicate retooling loans for more efficient cars, 231:A–21 (12/2/08)
– – N.Y. City plan to require taxi fleets to shift to hybrids blocked (S.D.N.Y.), 212:A–28 (11/3/08)

– Ill. amends tax rules to include provisions on rebates, dealer incentives, 223:H–3 (11/19/08)
– Industry stimulus

– – Automakers press their case for relief to Pelosi (D-Cal) and Reid (D-Nev), 216:A–27 (11/7/08); Pelosi says Congress may act on bailout even without plan from companies, 226:A–17 (11/24/08); automakers face risks in providing business plans to Congress, analysts say, 228:A–4 (11/26/08); automakers make formal pleas for federal aid, 232:AA–1 (12/3/08); restructuring plans include caps on executive compensation, suspension of 401(k) matches, and benefit changes for retirees and salaried workers, 233:A–31 (12/4/08)
– – Bailout board to provide funds to carmakers considered by lawmakers, 234:A–29 (12/5/08)
– – Bankruptcy 4 times as expensive as bailout, report says, 236:AA–2 (12/9/08)
– – Calls for immediate aid to industry continue, Deutsche Bank analyst lowers rating on GM shares to “sell,” and puts price target of zero on stock, 218:A–1 (11/12/08)
– – Canadian and Ontario governments to provide GM and Chrysler up to C$4B (about $3.3B) in short-term financial support, PM Harper says, 246:A–6 (12/23/08)
– – Chrysler halts all production for one month, citing unavailability of consumer car loans, 243:A–37 (12/18/08)
– – Dems plan to push ahead with bailout, amid skepticism from Treasury Sec'y Paulson and White House, 219:A–31 (11/13/08); Dem leaders in House and Senate postpone consideration of bailout until at least Dec. 8, 225:A–25 (11/21/08)
– – Dodd (D-Conn) says solid GOP opposition will doom attempts to bail out auto firms, 220:A–14 (11/14/08)
– – Drafts written by lawmakers despite uncertainty on vote count, 235:A–32 (12/8/08)
– – Emergency Economic Stabilization Act, Mich. congressional delegation seeks inclusion of automobile industry, 206:A–14 (10/24/08)
– – European Comm'n debate continues over what kind of financial help should be extended to EU industry, 223:AA–2 (11/19/08); EU Competition Comm'r Kroes opposes any EU stimulus plan that would give subsidies to automakers, 226:A–2 (11/24/08)
– – Executive compensation, federal loans to automakers limit deductibility, 245:G–5 (12/22/08); summary of terms for loan to Chrysler, 245:TaxCore (12/22/08); to General Motors, 245:TaxCore (12/22/08)
– – Federal aid crucial for survival of U.S. automakers, analysts say, 210:AA–1 (10/30/08)
– – Frank (D-Mass) bill

See LEGISLATION, FEDERAL, HR 7321

– – GMAC conversion to bank holding company

See BANKING

– – Governors from 6 states send letter to Treasury Sec'y Paulson and Fed Chrm. Bernanke asking for immediate action, 211:A–1 (10/31/08)
– – House bill

See LEGISLATION, FEDERAL, HR 7321

– – Lame duck session possible in Dec. on automakers' rescue plan, 225:N–1 (11/21/08); Dem lawmakers to try again on bailout, 235:N–1 (12/8/08)
– – Mikulski (D-Md) proposes to make deductible sales taxes, interest on auto purchases, 219:G–1 (11/13/08); summary of draft legislation, 219:TaxCore (11/13/08); further action, see LEGISLATION, FEDERAL, S 3684
– – Moody's Investors Service says government aid will likely take form of prepackaged bankruptcy in conjunction with federal financial assistance, 242:A–2 (12/17/08)
– – Motor vehicle emissions, bailout not expected to force industry to drop opposition to Cal. standards, 235:A–31 (12/8/08)
– – OECD argues strongly against large bailout programs for auto manufacturers, 228:EE–5 (11/26/08)
– – Senate expected to begin debate on $6B extension of unemployment insurance benefits, with plans to attach $25B automaker loan package, Reid (D-Nev) says, 221:A–32 (11/17/08); Senate schedules vote on industry bailout during lame duck session, 221:N–1 (11/17/08); Senate expected to vote on bailout week of Nov. 17, Reid says, 222:A–31 (11/18/08); Reid, Byrd (D-WVa) include industry relief in $100B stimulus bill, 222:G–8 (11/18/08); description of key provisions, 222:TaxCore (11/18/08); Levin (D-Mich) says funds to help should be found somewhere, 223:AA–1 (11/19/08); prospects remain uncertain as Senate Dems and GOP continue battle over source of money, 224:AA–1 (11/20/08); bailout stalls as Senate infighting halts progress, 239:A–41 (12/12/08); further action, see LEGISLATION, FEDERAL, S 3689
– – UAW Pres. Gettelfinger urges speedy federal help to automakers linked to accountability, 225:A–37 (11/21/08); UAW to suspend jobs bank program, rework schedule for company payments to retiree health care trust, and review other aspects of contracts, 233:A–3 (12/4/08)
– – White House spokeswoman Perino denies reports of linkage between aid to auto industry and vote on Colombia FTA, 219:A–16 (11/13/08); White House and Congress remain divided over bailout, 221:A–28 (11/17/08); White House and Congress near deal on rescue funds, 236:AA–1 (12/9/08); agreement not yet reached but signals indicate deal drawing closer, 237:AA–1 (12/10/08); White House says TARP funds could be available for bailout, 240:A–8 (12/15/08); White House expected to extend TARP loans with terms and conditions similar to those written into House-passed bill, 241:A–25 (12/16/08); White House says “orderly” bankruptcy an option for helping companies, 244:A–3 (12/19/08); Bush approves plan to provide $17.4B in loans in return for restructuring, 245:AA–1 (12/22/08)

– Parts, WTO Appellate Body says Chinese registration and tax systems discriminate against imported parts in favor of domestic products, 241:A–28 (12/16/08)
– Pensions, automakers GM, Ford, and Chrysler asked by PBGC for information on impact of attrition programs on funding of their defined benefit plans, 231:A–12 (12/2/08)
– Product safety and liability

– – Air bags

– – – Child restraints used to test for safety standard that aims to ensure air bags do not pose unreasonable safety risk to infants and small children, NHTSA updates list, 219:A–28 (11/13/08)
– – – Module failure, NHTSA open preliminary investigation of Nissan Infiniti Q45 models, 237:A–33 (12/10/08)

– – All-terrain vehicles

– – – Children, safety advocacy groups call for more stringent measures to reduce risks, 207:A–22 (10/27/08)
– – – CPSC officials outline key issues in complying with new safety standards, 202:A–8 (10/20/08); CPSC adopts mandatory consumer product safety standard that until now has been industry voluntary standard, 221:A–19 (11/17/08)
– – – “Injury risk” for riders has dropped for sixth consecutive year and is lower than any time since 1998, Specialty Vehicle Institute of America says CPSC data show, 210:A–30 (10/30/08)

– – Automated vehicle recall alert service for consumers who sign up for service announced by NHTSA, 217:A–12 (11/10/08)
– – Child restraints, NHTSA denies request to revise definition in safety standard to include devices that improve fit of vehicle seat belt for children, 244:A–18 (12/19/08)
– – Crashes

– – – Causation survey by NHTSA finds driver error, poor decisionmaking, tire and wheel failures, and slick road conditions were most critical factors, 239:A–24 (12/12/08)
– – – Fatalities expected to reach new record low in 2008, Sec'y Peters says, 239:A–34 (12/12/08)
– – – Small cars have improved in frontal and side-impact crashes, but many models need better side and rear crash protection, Insurance Institute for Highway Safety says, 243:A–24 (12/18/08)

– – Electric-powered low-speed vehicles, NHTSA denies petition to increase weight allowance, 192:A–22 (10/3/08)
– – Electronic stability control (ESC) inappropriate activation, NHTSA begins examining 2003 Toyota Sequoia vehicles, 249:A–17 (12/30/08)
– – Exhaust pipe burns while removing cargo from rear hatch, BMW decides to yield to NHTSA pressure and recall Mini Cooper models, 241:A–6 (12/16/08)
– – Front-suspension coil spring fractures, NHTSA broadens investigation of Saab 9-3 vehicles in “salt-belt states,” 249:A–17 (12/30/08)
– – Frontal and side-impact crashworthiness, NHTSA to rate total of 52 vehicles from 2009 model year, 193:A–22 (10/6/08)
– – Fuel pump issue that can cause leaks, NHTSA opens preliminary investigation of Subaru Baja vehicles, 224:A–26 (11/20/08)
– – Gas leaks that present fire risk, NHTSA opens preliminary evaluation of Ford F-150 trucks that run on compressed natural gas, 214:A–9 (11/5/08)
– – Importers of motor vehicles and related equipment support NHTSA draft best practices to reduce risks that noncompliant, defective products imported into U.S., 247:A–12 (12/24/08)
– – Motorcycle helmets, NHTSA proposes stronger performance tests and labeling, 190:A–24 (10/1/08); NHTSA says number of lives saved by helmets increased from 1,173 in 2003 to 1,784 in 2007, 217:A–19 (11/10/08)
– – New Car Assessment Program will give consumers better, more compete safety profile of vehicles they are considering, NHTSA postpones implementation to give manufacturers more time to prepare for changes, 245:A–22 (12/22/08)
– – Peeling plating on inside door handles poses risks of lacerations, NHTSA opens probe of Hyundai Sonata vehicles, 249:A–17 (12/30/08)
– – Rollover resistance, NHTSA to rate 29 vehicles from 2009 model year, 193:A–22 (10/6/08)
– – Roof strength final rule delayed again as DOT asks Congress for more time, 191:A–35 (10/2/08); DOT again delays publication of standard, citing current auto industry concerns, 242:A–21 (12/17/08)
– – Seat belt use saved estimated 15,147 lives in 2007, NHTSA says, 217:A–19 (11/10/08)
– – Seating position, NHTSA amends definition, and establishes how manufacturers must determine number of seating positions for vehicles, 196:A–16 (10/9/08)
– – Steering problems, NHTSA upgrades probes of Toyota Sienna minivans, and Hyundai Santa Fe SUVs, 214:A–9 (11/5/08)
– – Tail pipes that cause burns when people access cargo area, NHTSA seeks BMW Mini Cooper recall, schedules meeting to discuss potential defect, 234:A–23 (12/5/08)
– – Timing chain failures that can lead to stalling, NHTSA open investigation of Saturn L-series vehicles, 204:A–27 (10/22/08)
– – Tires

– – – Electronic registration, NHTSA final rule facilitates, 231:A–4 (12/2/08)
– – – Valves made in China that can crack and leak air, causing tire damage and potential crashes, NHTSA upgrades probe, 190:A–12 (10/1/08); NHTSA opens investigation of original equipment made for Ford vehicles, 204:A–27 (10/22/08)

– – TREAD Act, NHTSA proposes amending early-warning defect reporting provisions, 234:A–33 (12/5/08)
– – Turn signal problems

– – – Chevrolet Malibu vehicles, NHTSA opens preliminary investigation, 209:A–12 (10/29/08)
– – – Dodge Ram pickups, NHTSA opens preliminary investigation, 199:A–16 (10/15/08)

– – Wheel rim fractures, NHTSA opens preliminary investigation of Ford Expedition SUVs, 244:A–18 (12/19/08)

– Restructuring sector, industry can expect more bankruptcy filings at supplier level in short-term, continued consolidation, and increase in litigation in long-term, experts say, 211:A–17 (10/31/08)
– Sales, Sept., 191:EE–3 (10/2/08); Oct., 213:EE–3 (11/4/08); Nov., 232:EE–1 (12/3/08)
– Standard mileage rates

See TRADE OR BUSINESS EXPENSES

– Used cars, group of 42 attorneys general urges FTC to strengthen “Buyer's Guide” notices by including history of vehicle, 226:A–8 (11/24/08)

MUNICIPAL BONDS

See BONDS, EXEMPT

MUSIC RECORDING INDUSTRY

– Copyrights

– – Recording Industry Ass'n will no longer pursue its “broad-based end user litigation,” 247:A–12 (12/24/08)
– – Webcasters allowed to negotiate licensing rates with SoundExchange

See LEGISLATION, FEDERAL, HR 7084*

– Online privacy law that protects children's personal data, FTC announces $1M settlement with Sony BMG Music Entertainment for alleged violations (S.D.N.Y.), 239:A–12 (12/12/08)

MUTUAL FUNDS

– Disclosure, SEC to hold open meeting to consider improvements, 221:A–3 (11/17/08); SEC to consider 2 proposed rule amendments that take advantage of modern technological advances to improve disclosure to investors, 222:A–16 (11/18/08); SEC adopts rules to make disclosures streamlined and accessible, 224:A–18 (11/20/08)
– Enforcement actions, Reserve Fund investment adviser announces that it and top executives may soon be subject of SEC action, 249:A–4 (12/30/08)
– Exemptions under 1940 Investment Company Act, companies will have to submit applications electronically, effective Jan. 1, 2009, SEC announces, 210:A–4 (10/30/08)
– Fraud

– – Columbia Funds Distributor former executives allowed market timing trades in violation of statements in prospectuses, SEC action reinstated (1st Cir.), 236:A–15 (12/9/08)
– – Prudential Securities former stockbroker Ficken, who allegedly helped favored clients engage in market-timing, SEC affirms industry bar against, 203:A–20 (10/21/08); Ficken failed to raise material factual question “as to relevant issue, including scienter” (1st Cir.), 204:A–11 (10/22/08)
– – Reserve Short-Term Investment Trust investors commence class action, claiming that fund misrepresented fund's safety and investment objectives (S.D.N.Y.), 230:A–18 (12/1/08)

– Independent directors, SEC Division of Investment Management director says staff working on ways to increase effectiveness, 210:A–18 (10/30/08)
– Market timing restrictions, N.Y. Atty. Gen. Cuomo may proceed with suit alleging Samaritan hedge funds engaged in deceptive scheme to evade (N.Y. Sup. Ct.), 213:A–8 (11/4/08)
– Mass. adopts rules for apportionment of income, 250:H–1 (12/31/08)
– Money market funds

– – Bond lawyers' group seeks guidance on bond issuers' investments, 197:G–1 (10/10/08); NABL letter, 197:TaxCore (10/10/08)
– – FINRA issues Investor Alert to notify investors of Treasury Dep't Temporary Guarantee Program, 191:A–17 (10/2/08)
– – Insurers participation will not violate diversification rules, 195:G–1 (10/8/08); IRS Notice 2008-92, 195:TaxCore (10/8/08)
– – Investment Company Institute launches group to study money markets and recommend changes, 214:A–12 (11/5/08)
– – Money Market Investor Funding Facility (MMIFF) introduced by Fed to increase liquidity, 204:A–1 (10/22/08); facility set to purchase funds around Nov. 24, N.Y. FRBank announces, 218:A–28 (11/12/08)
– – Payments to maintain $1 share value, IRS provides safe harbor, 248:G–5 (12/29/08); Rev. Proc. 2009-10, 248:TaxCore (12/29/08)
– – Reserve Fund's U.S. Government Fund, Treasury Dep't agrees to assist liquidation because of “unique and extraordinary circumstances,” 225:A–31 (11/21/08)
– – Sept.-Oct. guidance reviewed, BNA Analysis & Perspective, 195:J–3 (10/8/08); guidance update, 206:J–1 (10/24/08)
– – Treasury broadens rescue to more funds, enrollment deadline not extended, 196:G–1 (10/9/08); Treasury announcement, 196:TaxCore (10/9/08); Treasury to continue guaranteeing funds through April 30, 2009, 227:A–25 (11/25/08); Treasury extends guarantee to help exempt funds, insurance firms through Apr. 2009, 228:G–5 (11/26/08); Treasury notice, news release, 228:TaxCore (11/26/08)

– Ohio waives certain reporting requirements, 217:H–2 (11/10/08)
– Regulation

– – European Union finance ministers take key step toward overhauling regulatory regime, 233:A–7 (12/4/08)
– – Industry is “a model” that lawmakers and policymakers can look to as they consider how to reshape financial regulation, industry groups say, 216:C–1 (11/7/08)

– Tax treaty benefits, NYC bar tax panel urges OECD to count third-state investors in collective investment vehicle qualification, 203:I–2 (10/21/08); OECD project discussed by practitioner, 220:G–5 (11/14/08)
– XBRL coding and risk statements, SEC approves rule amendments, 243:G–6 (12/18/08)