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Politics, Taxes

POSTED: Wednesday, December 7, 2011, 8:50 AM
Filed Under: Politics, Taxes

DuPont is among the 68 big U.S. corporations that a new report identifies as having paid no state income tax in at least one of the last three years, according to Bloomberg News.

In fact, Wilmington-based DuPont is one of three companies that paid no state income tax in each year between 2008 and 2010, says the 71-page report by the Institute on Taxation and Economic Policy. Bloomberg said a DuPont spokeswoman declined to comment.

The Washington, D.C.-based research group is backed by labor unions, Bloomberg says. The study (a PDF is here) looked at 265 companies among the Fortune 500 that were profitable in all three years. In all, those companies paid state income taxes equal to 3 percent of their profits, or half the average statutory rate.

POSTED: Thursday, May 26, 2011, 12:30 AM
Filed Under: Politics, Taxes

The promise of high-speed rail was a big topic of the Greater Philadelphia Chamber of Commerce’s annual “State of the Region” meeting Tuesday.

But Transportation Secretary Ray LaHood made another point early and often: If Congress passed a transportation funding bill, it would create jobs.

It’s a message he has been repeating at speeches and appearances across the nation since the Obama administration released a $550 billion, six-year plan to pay for various transportation-related infrastructure projects on Labor Day last year.

POSTED: Wednesday, May 25, 2011, 5:59 PM

Ask me how thrilled I am that we’ll soon have a jobs commission in Philadelphia to come up with ways to put people to work.

Not that we don’t need to reverse the decades-long decline in employment in the city. It’s just that this is the wrong way to go about it.

In case you missed it amid all the excitement over the Pennsylvania primary election, voters in the city on May 17 approved a ballot question establishing a 17-member jobs commission.

POSTED: Tuesday, May 24, 2011, 12:37 PM
Filed Under: Politics, Taxes

Transportation Secretary Ray LaHood made his point early and often:

If Congress passed a transportation bill, it would create jobs.

It's a message he's been repeating at speeches and appearances across the nation since the Obama administration released a $550 billion, six-year plan to pay for various transportation-related infrastructure projects on Labor Day last year.

POSTED: Tuesday, April 26, 2011, 10:54 AM
Filed Under: Politics, Taxes

When I’d heard that AstraZeneca P.L.C. was not only cutting jobs in Wilmington, but also tearing down buildings, it sounded like a corporate variation on scorched-earth tactics.

The News Journal broke the news last week that the pharmaceutical company plans to raze 450,000 square feet of laboratory space in three buildings at its Wilmington-area campus over the next two years.

Most companies, when they resort to layoffs, don’t level the buildings, too. It sounded to me to be a little drastic.

POSTED: Wednesday, April 20, 2011, 11:43 AM

April showers seem to be bringing lots of opinions about the state of Philadelphia.

Mayor Nutter presented his “State of the City” address to a business audience at the Union League of Philadelphia last week. A few days before, the Pew Charitable Trust’s Philadelphia Research Initiative released its sobering report on how the city is performing, or more precisely underperforming, vs. other cities.

On Tuesday, it was the Center City District’s turn to spin the numbers with its annual glossy publication that certainly sells its subject well.

POSTED: Thursday, April 14, 2011, 1:16 PM

A University of Illinois at Chicago survey finds Philadelphia among the 12 best cities at providing investors with financial information online.

It may seem odd to think of cities needing to provide investor relations services in addition to picking up the trash, putting out fires and arresting criminals.

But then, the U.S. municipal bond market is estimated to be $3 trillion. So you'd hope the issuers of all that debt would be diligent in keeping the buyers of that paper informed.

POSTED: Wednesday, February 23, 2011, 1:25 PM

Comcast Corp. CEO Brian L. Roberts and DuPont Co. CEO Ellen Kullman were added Wednesday to a business/labor group that the White House wants to focus on American jobs and competitivness.

Called the President's Council on Jobs and Competitiveness, the panel emerged out of ideas President Obama discussed in his State of the Union speech last month.

The White House released a list of 22 men and women from industry and labor to serve on the council, which is being chairman by General Electric Co. CEO Jeffrey Immelt.

About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

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