plus 4, Biggest Services Stocks Losers are UTI, STAA, ICFI - Transworld News |
- Biggest Services Stocks Losers are UTI, STAA, ICFI - Transworld News
- Max Media Group, Inc. Announces LOI to Acquire Luxury Auto Direct ... - MSN Money
- 7 tax moves to make by year-end - Yahoo Finance
- Crunch time for employees at Saab awaiting GM decision - Earthtimes
- Auto sales race ahead in November - Rediff
| Biggest Services Stocks Losers are UTI, STAA, ICFI - Transworld News Posted: 01 Dec 2009 08:54 AM PST
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| Max Media Group, Inc. Announces LOI to Acquire Luxury Auto Direct ... - MSN Money Posted: 01 Dec 2009 03:54 AM PST PALM HARBOR, Fla., Dec. 1, 2009 (GLOBE NEWSWIRE) -- Max Media Group, Inc. (Pink Sheets:MXMI) announced today that it has entered into a Letter of Intent (LOI) to acquire Luxury Auto Direct Magazine and its website www.luxuryautodirect.com. G. James Grady, Chairman of Max Media Group, Inc. stated, "Luxury Auto Direct can be a very important piece of our overall media strategy going forward. The demographic fits perfectly with our 'Hot Web' sites and will give our combined sales force the ability to offer expanded advertising in this very lucrative luxury automobile niche market. This acquisition marks the Company's expansion into print media which supports the company's overall marketing operations." Rick Castillo, President of Luxury Auto Direct Magazine, Inc. stated, "We are excited by the enormous synergy to help grow our brand, and take advantage of economies of scale in our sales force." LUXURY AUTO DIRECT Luxury Auto Direct Magazine is a publication dedicated to the affluent automotive lifestyle. The magazine features the finest luxury and exotic automobiles, motorcycles, boats, and real estate. Also featured, are lifestyle pieces highlighting watches, jewelry, technology, gadgets, etc. LuxuryAutoDirect.com develops and markets a superior website that targets dealers, private sellers, owners, and potential buyers of high-end products and services associated with the high-end automotive lifestyle. * News stand distribution consists of national upscale chains such as Barnes & Noble, Borders, Hastings, Books A Million and supermarkets nationwide. * Copies are distributed at luxury automotive lifestyle events and auctions nationwide such as Rolex 24, Festivals of Speed, Palm Beach, Amelia Island Concours, Meadowbrook Concours, Concorso Italiano, and SEMA to name a few. * Luxury Auto Direct Virtual Magazine receives over a half a million hits monthly. Luxury Auto Direct Virtual Magazine is emailed to over 100,000 online subscribers monthly. Max Media also announced that it is working closely with its transfer agent and the Depository Trust Company (DTC) to complete the dividend issued by Gold Coast Mining (Pink Sheets:GDSM). Management assures all GDSM shareholders of record of GDSM stock on August 31, 2009 that they will receive their dividend. With all the regulatory changes and additional requirements, there have been unexpected delays out of Gold Coast Mining's control. Shareholders of GDSM that have met the requirements for the dividend are encouraged to send their contact information to Jim Grady via email at jim@maxmediamxmi.com to be kept up to date on developments regarding their dividend. About Max Media Group, Inc. Max Media Group, Inc. currently operates numerous web sites in specific niche markets including www.hotautoweb.com, www.hotrvweb.com, www.hotboatweb.com and www.hotcharityweb.com among others. The domain properties were founded in 2001 with the current management assuming control in 2009. In the past 5 years www.hotautoweb.com has generated $17 million dollars in the classic car segment. The Company currently has 75,098,804 shares issued and outstanding. Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance. CONTACT: Max Media Group, Inc. G. Jim Grady Jr. 877-243-9327 GlobeNewswire, Inc.2009 This content has passed through fivefilters.org. |
| 7 tax moves to make by year-end - Yahoo Finance Posted: 01 Dec 2009 02:56 AM PST The holidays are bearing down, but to make sure you don't overpay the IRS when you file your 2009 return next year, you need to make time for some year-end tax tasks. "There is the list of usual suspects that are out there to be considered," says Stephen Kunkel, director of taxes at CBIZ MHM in Los Angeles. "Then there's the real swamp of legislation with a lot of special considerations you don't have every year. Some are broad-based; others more narrow." Some of the tax breaks will expire Dec. 31, so this could be your last chance to use them. Others will be around awhile longer, but it might make sense to claim this year. And some have been helping folks cut their IRS bills for ages and likely will be around for many tax years to come. Regardless, check out these seven tax moves. If some or all of them apply to your personal tax situation, take advantage of them before 2009 is over. 1. Buy a houseHomeownership is a proven tax saver. Thanks to the expanded first-time homebuyer credit, even more people might soon be claiming these many breaks on their returns.But the IRS definition of first-time, says Kunkel, is not exactly the same as Webster would view it. Under the Worker, Homeownership, and Business Assistance Act of 2009, folks who haven't owned a home in the last three years might be able to get an $8,000 credit toward the purchase of a residential property. Even longtime residents, those who've lived in their current home for five of the last eight years, are considered first-timers under the law and might be eligible for a $6,500 credit. For 2009, the $8,000 credit applies to qualifying home purchases that closed during the calendar year. The $6,500 tax break is a bit more limited; in these cases, the purchase must be on Nov. 7 or later. 2. Improve your current homeYou say you don't want to move? Then let Uncle Sam help pay for energy-efficient improvements to your current home.The stimulus bill enacted in February, officially known as the American Recovery and Reinvestment Act of 2009, or ARRA, expanded and simplified tax breaks for many residential energy upgrades. Now, improvements ranging from the replacement of drafty windows and doors to new heating or air conditioning systems could net tax savings for up to 30 percent of the improvement's cost, up to a maximum $1,500 in tax credits. Homeowners who decide to make even more advanced energy saving moves, such as installing solar heating systems, could get even bigger tax breaks. The federal government's Energy Star program tracks qualifying improvements and tax credit requirements.
3. Make extra home-related paymentsAmong those many home-related tax savings are itemized deductions for mortgage interest and property taxes. If you've got the cash to spare, you can make those payments a bit early and write them off on this year's taxes.Unlike rent, which is paid in advance, your mortgage payment due Jan. 1 represents interest for the month of December. By making that payment a few days early, you'll get an additional amount to itemize on your 2009 Schedule A. The same early payment plan applies to your real estate taxes. Homeowners typically get their property tax bills in the fall, but the due date isn't until next year. If, however, your local tax collector will take your payment -- or part of it if that's all you can swing -- sooner, pay it now to accelerate the tax benefits. This approach works whether you itemize or include a portion of your property taxes in your standard deduction amount. The standard filer option, scheduled to expire at the end of the year, allows single homeowners to increase that set deduction amount by up to $500 or the amount of property taxes they pay this year, whichever figure is smaller. Married, joint filers can increase their standard amount by as much as $1,000. 4. Buy a carDid you miss out on the Cash for Clunkers rebate program this summer? Don't despair. Some automotive tax breaks are still available.Another new ARRA tax break is the deduction for sales taxes paid on a new car. If you bought a new car -- or light truck, motorcycle or even a motor home -- on Feb. 17 or later, you can deduct the sales tax amount. Of course, says Laurie Asch, Senior Tax Analyst for the Tax & Accounting business of Thomson Reuters in New York, there are some other limitations on this tax break. In addition to the purchase date, to get the full deduction the vehicle cannot cost more than $49,500. "If you buy a more expensive car, the tax on the amount over that price is not deductible," says Asch. The deduction also phases out for higher-income auto buyers, starting at $125,000 for single taxpayers and $250,000 for married joint filers. But the deduction is available regardless of whether you itemize or take the standard deduction. Some other auto-related fees and taxes also can be claimed by auto buyers in states that do not have sales taxes. Decide soon, however. This deduction ends on Dec. 31. The other major car-related tax break is the purchase or lease of a hybrid. This tax break will continue through 2010, but because of how it is structured, the size of the credit and just how long it will be available for certain makes and models phases out based on sales. In fact, there are no longer any tax credits available for Toyota and Honda hybrids, and Ford's hybrid credits will end March 31, 2010. Full credit amounts are still available for qualifying GM, Nissan and Mazda hybrids. Check with your auto dealer and the IRS announcements on the various manufacturer credits. Can you take the hybrid credit and sales tax deduction on the same car? Sometimes the IRS frowns on what it sees as double dipping, but says Mark Luscombe, Principal Federal Tax Analyst for Riverwoods, Ill.-based CCH, "I can't find any reason why you couldn't." 5. Sell some assetsAs you review your investment portfolio, consider selling some assets before the end of the year. There are some tax reasons to do so, regardless of whether you end up with a gain or a loss.Capital gains tax rates are lower than what's assessed on ordinary income. They were lowered even more as part of the George W. Bush Administration's tax cuts: 15 percent for most investors, zero for those in the two lowest income tax brackets. Those rates are expected to continue through 2010. Some investors, however, believe the growing federal budget deficit will force Congress to revisit that plan. They suspect that in 2010, lawmakers will bump the rates back to the pre-Bush rate of 20 percent for wealthier taxpayers, and perhaps higher. To guard against facing such a tax price, these folks are planning to sell before 2009 ends so they can lock in the 15 percent rate. That's the case for some clients of Tom Karsten, Managing Partner at Karsten Tax and Financial Management in Fort Worth, Texas. Karsten says these investors are thinking it "may be wise to lock in gains this year to assure that we get a lower capital gains rate." On the flip side of the investing coin are losses. Harvesting losses is a traditional end-of-year tax strategy. Any capital losses you record in a tax year can offset any capital gains on which you otherwise would owe taxes. If you have more losses than gains, you can use up to $3,000 of that amount to reduce ordinary taxable income. Just make sure you sell the bad holdings by Dec. 31. 6. Give away stuffDec. 31 is also the deadline to contribute to your favorite charity and claim the gift amount on that year's tax return."With the economy, charities need it more this year than most," says Kunkel. "Making a charitable contribution could be as straightforward as writing a check and mailing by Dec. 31 or donating to a food drive during holidays." In addition, says Kunkel, investors fortunate enough to have appreciated securities can make use of them here, too. If you own a stock that's gained value but no longer fits your investment plan or you think the stock price has maxed out, you can give it directly to charities that accept such gifts. The nonprofit gets the stock, that it can sell and use. You get to deduct the asset's value as a charitable gift. Even better, you won't owe any capital gains taxes on the appreciation. And, unless Congress acts, 2009 is the last year that IRA owners age 70 � or older can roll over up to $100,000 in retirement funds to qualified charities. 7. Make more miscellaneous paymentsAnother itemized deduction that requires taxpayers reach a certain amount is the one for miscellaneous expenses. That limit is 2 percent of adjusted gross income to claim any of the assorted costs. However, there is a variety of expenses you can count here.One small silver tax lining of this bad economy is that if you're unemployed and searching for work in the same field, you can include those job-hunt costs here. This includes such things as paper for resumes, faxing fees, travel costs and even professional help that you pay for to help you land a position. This content has passed through fivefilters.org. |
| Crunch time for employees at Saab awaiting GM decision - Earthtimes Posted: 01 Dec 2009 02:49 AM PST
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| Auto sales race ahead in November - Rediff Posted: 30 Nov 2009 11:57 PM PST  Close on the heels of the Indian economy booming at a better-than-expected 7.9 per cent in the second quarter, the auto sector too has kept pace with the healthy economic activity, with the latest data suggesting that the country's leading auto companies have made some really strong sales for the month of November. India's [ Images ] largest car maker, Maruti Suzuki [ Images ] India, on Tuesday reported 66.57 per cent jump in its total sales at 87,807 units during November. The company had sold 52,711 units during the same month last year. In the domestic market, Maruti sold 76,359 units from 47,704 units in November 2008, an increase of 60.07 per cent, Maruti Suzuki India (MSI) said in a statement. Exports surged by over two-fold to 11,448 units from 5,007 units in the year-ago period, it added. Sales of the company's once bread-and-butter model M800 grew by 31.77 per cent at 3,040 units compared to 2,307 units in November 2008, while A2 segment (comprising Alto [ Images ], WagonR [ Images ], Estilo, Swift [ Images ], A-Star [ Images ] and Ritz) witnessed 60.12 per cent growth at 56,005 units compared to 34,976 units in the same month a year ago, the release added. A3 segment sales (consisting of SX4 [ Images ] and DZiRE [ Images ]) increased 46.30 per cent to 8,741 units compared to 5,975 units in the corresponding period a year ago, the company said. MSI's passenger car sales rose 61.57 per cent at 76,106 units against 47,103 units in the same month in 2008, the filing said. Meanwhile, Hyundai [ Images ] Motor India Ltd, the country's second largest car manufacturer and the largest passenger car exporter registered record cumulative sales for the month ending November 30, 2009. The cumulative sales accounted for 55,265 units which reflect a 28.5 per cent growth as compared to last November. The domestic market was the biggest gainer as it almost doubled its sales to 28,162 units this month registering a growth of 92.8 per cent over the same month last year. The exports however showed a slight decline as it fell by 4.6 per cent as compared to the same period last year. In September, 2009 HMIL had clocked cumulative sales of 53,802 units which had been the highest till now. HMIL's total sales for November, 2009 stood at an all time high of 55,265 units against 43,020 units in November, 2008 registering 28.5 per cent cumulative growth. The domestic sales grew at a whopping 92.8 per cent and accounted for 28,162 units as against 14,605 units in November, 2008 while the exports dipped marginally to 27,103 units as compared to 28,414 units last November - a fall of 4.6 per cent. Commenting on November, 2009 sales Arvind Saxena, Sr. Vice President - Marketing and Sales, HMIL said, "The overall economic scenario has been positive and this has translated in to more footfalls in the showroom and higher automobile sales as indicated by this month's figures. We hope the economy will continue on a growth trajectory as it will help the Indian automotive industry to maintain a double digit growth figure." The segment-wise cumulative sales in the month of November, 2009 are as follows: A2 Segment (Santro [ Images ], i10, Getz [ Images ] & i20) 50,501 units; A3 Segment (Accent [ Images ] & Verna [ Images ]) 4,748 units; A5 Segment (Sonata [ Images ] Transform) 15 units; and SUV Segment (Tucson [ Images ]) 1 unit. Two-wheeler major TVS [ Get Quote ] Motors posted a 23 per cent growth in total two-wheeler sales for November 2009, clocking more than 1.20 lakh vehicles even as it experienced a dip in total motorcycle sales and export of two-wheelers. The company posted total two-wheeler sales of 1,20,844 units against 98,402 units in the corresponding period of the previous year, TVS Motors said in a press release here. It said that TVS Motors continued to post sales growth for the eighth consecutive month, with a cumulative growth of eight per cent, with sales of more than 9.89 lakh units in the current financial year upto November 2009, as against over 9.17 lakh units in the same period last year. Domestic sales witnessed a 'quantum increase', posting a growth of 38 per cent, selling more than 1.06 lakh units in November 2009 as against 77,491 in the corresponding period of the previous year, the release said. While the company's scooter sales grew by 38 per cent to more than 25000 units,total motorcycle sales however declined. Total motorcyle sale for Nov 2009 stood at 45,080 units in November 2009 compared to 45,276 units in November 2008. Exports too did not post growth as sales decreased from 20,911 in November 2008 to 14,008 in November 2009. Citing the newly launched products, the 110cc motorcycle TVS Jive and TVS WEGO, the automatic scooter with an equal CC power, the company said it "hopes to add around 15 to 20 per cent to its monthly sales, once these new products are made available in the market." India's biggest two-wheeler maker Hero Honda Motors Ltd [ Get Quote ] on Tuesday reported 32 per cent jump in November sales at 3,81,378 units as against 2,89,426 units in the same month last year. "This is the 11th consecutive month that we have registered sales of over three lakh units. We hope to maintain the momentum in the coming months too," Hero Honda Motors Ltd Senior VP (Marketing & Sales) Anil Dua said. In November, the company crossed the three-million sales mark, he said, adding, "we will be crossing our original indication of four million-units mark much earlier than the close of this fiscal". The company's cumulative sales in the financial year so far (April-November, 2009) have risen to 30,37,556 units, a 21 per cent growth over 25,08,214 units in the corresponding period last year. Dua said the growth has been driven by models across all segments. While the 100 cc segment grew over 20 per cent, the 150 cc and above segment witnessed 30 per cent growth and scooters grew around 40 per cent, he said. The company has, however, not shared the sales break up of each segment. "In terms of market also, there has been equal growth from both rural and urban ones," he said, adding, while the premium segment got very good response in cities, the entry level bikes were doing well in rural areas. This content has passed through fivefilters.org. |
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