Dick MC Mahon

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TaxMasters, Inc. (OTC BB:TAXS) filed a recent report on Form 8-K to announce that Patrick Cox, its founder, CEO and majority shareholder, voluntarily entered into a Financial Reorganization Agreement in which Mr. Cox deposited 200 million shares of his TaxMasters common stock with TaxMasters’ transfer agent, Olde Monmouth Stock Transfer Co., Inc. These shares will be held in escrow by Olde Monmouth for a five year period ending June 30, 2015. During that time, Mr. Cox has waived his right to vote the escrowed shares and he has also waived his right to receive any dividends or other distributions by TaxMasters with respect to the escrowed shares. As a result of Mr. Cox’s voluntary escrow of shares, there are now 139,676,105 shares of common stock that can be voted or can receive dividends or other distributions. The 139,676,105 shares will also be the number of shares used to calculate earnings per share for TaxMasters financial statements.

TAXS, the IRS tax relief company, is the first publicly traded tax representation firm in the United States. Started by Patrick R. Cox in 2001, TaxMasters offers services and counsel to taxpayers across the country facing seemingly insurmountable tax problems, and relief from substantial federal tax debt.

 

 

Wells Fargo & Company (NYSE:WFC) recently reported that Chicago commercial banking veteran Bob Kastenholz has joined the company as a senior vice president and regional manager. Kastenholz now oversees a Wells Fargo Regional Commercial Banking Office (RCBO) in Chicago that serves middle-market companies with revenues in excess of $20 million. Previously, Kastenholz worked 25 years for Chicago’s LaSalle National Bank, now Bank of America, where he was a senior vice president and market executive in the Commercial Banking Group, serving Midwest clients.

WFC is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet, and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America.

 

 

Prudential Financial, Inc. (NYSE:PRU), recently reported that the company has honored six plan sponsors for redesigning their defined contribution retirement programs to assist plan participants in achieving a more secure retirement. This new retirement plans will cover Ply Gem Industries, the United Parcel Service (UPS), the State of North Carolina, Munters Corp, Bekaert Corp and EMC Insurance Companies. with this redesigned retirement plan Ply Gem has seen a 568 new enrollment participants in their 401 (k) plan. Ply Gem also added Prudential’s GoalMaker asset-allocation tool, a feature selected by 42 percent of plan members.

PRU a financial services leader with approximately $693 billion of assets under management as of March 31, 2010, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century.

 

 

 

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In my experience, a business doesn’t chug along for years at the same pace, predictably and sedately growing past a one-man operation. There is a point when the momentum, without much warning (and it doesn’t care whether you are ready) ramps up to full speed ahead.

Then, you find yourself as an entrepreneur under 30 years of age carrying multiple high rents and even higher payroll expenses. It happens so quickly that it’s like being underage and caught at a bar without a valid ID.

So what are the upsides and downsides that the entrepreneur should prepare for? There are many more positives than negatives. However, here is one of each to allow you to better prepare for when your business begins to speed up without asking your permission.

1 Clear-Cut Negative:

Mornings When You Don’t Want to Get Up - There are mornings when you are not going to want to wake up. The stress can weigh you down like cement shoes. It’s like an unexplainable hangover, but you didn’t drink the night prior.

Where does the stress come from? As a young entrepreneur under 30, nothing truly prepares you for being fiscally responsible for several employees who are paid solid salaries to compensate for their risk of working at a young company. You have bills coming from every direction, you have office rent and home rent or mortgage, and, if you’re anything like me, both of those carry “New York, NY” on their mail — and on their price tags.

New York, NY or Fargo, ND, running a young business is as heavy on accounts payable as it is on pride and excitement. While employees don’t have the say-so of a commercial enterprise, they also don’t have double rent, double phone bills, double everything.

Even more dizzying is the fact that a paycheck doesn’t exist. Nobody comes and hands you money at the week’s close. The only way to get dinner on your plate is to hunt.

At times, owning a business can feel like an uphill battle. Just riding the subway in the morning feels stressful, as you don’t know where your next dollar is coming from: you just know that you have to find it somewhere.

1 Clear-Cut Positive:

The Board Room and Company Dress Code – This is the most satisfying part of being an entrepreneur under 30 years of age. For me, the self-imposed boardroom dress code consists of designer jeans, designer t-shirts, multiple tattoos and luxury watches. You would think that 50 Cent is running the operation.

After all, any entrepreneur in his late 20′s or early 30′s grew up listening to Tupac Shakur and ripping SEGA characters’ heads off in Mortal Kombat. For a young entrepreneur under 30 years of age, the boardroom is like a trophy. It’s like a “#!$$ off!” to the corporate lifestyle and, moreover it serves as proof that there is a viable professional option beyond the cubicle life or being a road warrior.

 

This 73-page report provides the results of the Economics and Research Center’s June 2010 survey of print business owners, and compares these results to past quarterly surveys to provide an accurate gauge of how print businesses professionals perceive the economic landscape, how those perceptions are changing, and what actions they are likely to take in response to challenging economic times. In addition to our own survey results, we provide the most current data available on printing industry shipments and profits, employment, and other economic indicators.

Table of Contents :

Economic Forecast in a Nutshell

Introduction

How This Report Is Organized

For More Information

Section 1: Prevailing Q2 Business Conditions

Current Business Conditions

June 2010 Survey Results

March 2010 Survey Results

Expected Business Conditions

June Survey Results

March 2010 Survey Results

Business Conditions Index

Prevailing Economic Conditions

GDP

Proprietors’ Income

Corporate Cash Flow

Personal Income

Employment and Unemployment

Consumer Confidence

Consumer Price Index

Leading Indicators

Employment Cost Index

Small Business Optimism Index

Graphic Communications Industry Economic Trends

Graphic Designers

Graphic Arts Employment

Printing Industry Shipments and Profits

The Bottom Lines

Printing Industry Forecast

Section 2: Books of Business, Chicago, and iPads—A Miscellany

Book of Business

That Toddlin’ Town

Left to Their Own Devices Redux

Section 3: Conclusions and Recommendations

The Shows Must Go On

Kindles, Pads and Nooks

iAd

Location-Based Apps—The Next Big Thing or Not Much Ado About Nothing?

Whither E-Mail?

Yeah, Yeah, Yeah, the Economy

It Was Worse Than We Thought

The U.S.’s Lost Decade

Dr. Joe’s Economic Indicators

Dark Clouds and Silver Linings

Looking Forward

About the Analyst

Table of Figures

Figure 1: In terms of your revenues at this location, how has the first half of 2010 compared to the first half of 2009? —All print providers, June 2010

Figure 2: In terms of your revenues at this location, how has the rate of business for first three months of 2010 compared to 2009? —All print providers, March 2010

Figure 3: Do you expect 2010 revenues compared to 2009 to providers, June 2010

Figure 4: Do you expect 2010 revenues compared to 2009 to —All print providers, March 2010

Figure 5: Business Conditions Index (BCI) for all printing establishments,March 2008-June 2010

Figure 6: Y/Y % change in real GDP, Q1 2000-Q1 2010

Figure 7: Gross Domestic Product, Q1 2000-Q1 2010 (billions of current dollars)

Figure 8: Proprietors’ income, Q1 2000-Q1 2010,(billions of current dollars)

Figure 9: Net corporate cash flow, Q1 2000-Q1 2010,(billions of current dollars)

Figure 10: Personal income, Q1 2000-Q1 2010,(billions of dollars, seasonally adjusted at annual rates)

Figure 11: “Official” unemployment rate vs. broadest definition of unemployment, Dec. 2007-Apr. 2010

Figure 12: Consumer Confidence Index (1985=100),January 2005-June 2010

Figure 13: Consumer Price Index (1982-1984=100),January 2005-March 2010

Figure 14: The Conference Board’s Leading Economic Indicators Index (2004=100), January 2008-June 2010

Figure 15: Employment Cost Index (December 2005=100),Q1 2006-Q1 2010

Figure 16: Small Business Optimism Index (1986=100)

Figure 17: AIGA Design Leaders Confidence Index (April 2005=100),2005-2010

Figure 18: Current-dollar U.S. printing and print services shipments (M3 series for NAICS 323, in $ million)

Figure 19: Inflation-adjusted U.S. printing and print services shipments (M3 series for NAICS 323, in $ million) with June-December 2010 forecast

Figure 20: U.S. commercial printing shipments (inflation-adjusted), January-May 2010 ($ million)

Figure 21: U.S. commercial printing shipments —January to May 2006 to 2010 ($ billion)

Figure 22: Has this location been part of a merger or acquisition, or purchased or sold a “book of business” or “customer base” in the last 18 months? —All print providers, June 2010

Figure 23: Is this business actively seeking to purchase the “book of business” or “customer base” of another business in the next 18 months? —All print providers, June 2010

Figure 24: Is this business actively seeking to sell its “book of business” or “customer base” of another business in the next 18 months? —All print providers, June 2010

Figure 25: In relation to this year’s Graph Expo to be held this October in Chicago, does your company responses permitted)

Figure 26: Which of the following devices do you own for your personal or business use? (multiple responses permitted) —All print providers, March 2010

Figure 27: We have an iPad and are concentrating on developing applications and content for it for customers —All print providers, June 2010

Figure 28: We do not have an iPad but are able to develop content that is compatible with it —All print providers, June 2010

Figure 29: We will add iPad capabilities as a strategy to draw new customers to our print capabilities —All print providers, June 2010

Figure 30: It’s just one of many content channels that we are able to develop for —All print providers, June 2010

Figure 31: If we worked with clients to make their content iPad-friendly, we

would use freelance resources —All print providers, June 2010

Figure 32: The iPad is not applicable to our business as an opportunity —All

print providers, June 2010

Figure 33: We’re focused on print alone as a core specialty because that’s

what we do best —All print providers, June 2010

Figure 34: Our customers have no interest in the iPad and neither do we — All print providers, June 2010

Figure 35: We’ve never heard of the iPad —All print providers, June 2010

Figure 36: “To what extent are you familiar with geolocation applications like Foursquare and Gowalla that you can access on a mobile phone?”(Base: U.S. online adults)

Figure 37: E-mail open rates, 2007-2009

Figure 38: Job Growth by Decade, 1940s-2000s

For some-more information, Great fully visit:

http://www.aarkstore.com/reports/July-2010-Quarterly-Business-Conditions-Report-65323.html

More Related Report:

http://www.aarkstore.com/publishers/WhatTheyThink.com-92.html

U.S. Commercial Printing Profits, 1995 to Q2-2010

July 2010 Quarterly Business Conditions Report

North American Monthly Printing Shipments, Issue #57

May Quarterly Business Conditions Report

North American Monthly Printing Shipments, Issue #54

North American Monthly Printing Shipments, Issue #50