Month: August 2020

Personal

Ex-Michigan payroll tax firm owner accused of stealing thousands for personal expenses

By Jacki Roig 1 month ago

DETROIT – The former owner of a Michigan payroll tax service firm is accused of stealing thousands of dollars to cover expenses for his other businesses and to fund remodeling and construction costs for his wife’s business.

A federal grand jury in Detroit indicted Dale Thrush, of Farwell, Mich., this week. Thrush was the owner and operator of 402 N. Mission St. LLC (Mission Street), based in Mount Pleasant, Mich. The company provided payroll tax services to employers and is accused of withholding taxes and forwarding the funds due to the IRS.

The indictment alleges that from 2014 through 2016, Thrush withheld payroll taxes from Mission Street employees’ paychecks, but only paid a portion of the funds due to the IRS. Instead, Thrush allegedly used nearly $400,000 from Mission Street’s payroll account, including the withheld taxes, to cover expenses for his other businesses and to fund remodeling and construction

Business

Industrial Control Transformer Market Evolving Technology and Growth Outlook 2020 to 2026

By Jacki Roig 1 month ago

The MarketWatch News Department was not involved in the creation of this content.

Aug 31, 2020 (Market Insight Reports) —
The Industrial Control Transformer Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Global Industrial Control Transformer Market was valued at USD 815 Million in 2018 and is projected to reach USD 1,200.4 Million by 2026, growing at a CAGR of 4.93% from 2019 to 2026.

Get sample copy of this report at:

https://www.marketinsightsreports.com/reports/08262257215/global-industrial-control-transformer-market/inquiry?Mode=PD11

The increasing demand for industrial control transformer for the system safety during operations is likely to drive the growth of the market.

Money

Shipping Lines Learn to Make Money By Balancing Supply and Demand

By Jacki Roig 1 month ago

When countries began locking down their economies early this year in the face of the spreading coronavirus pandemic, the world’s container lines braced for a steep decline in shipping demand. Analysts warned that massive financial losses would soon follow at seagoing companies that carry the lion’s share of global trade.

Trade flows have in fact fallen, but the red ink for shipping lines never came.

Instead, profitability across the business is growing and some operators are reporting their best earnings in years.

Shipping lines continually slashed prices in years past to compete in declining markets. Under the health crisis that has rocked the global economy, however, carrier executives have reined back capacity in a display of discipline they’d long talked about but had never undertaken.

Container shipping has

Personal

MLS owner Dell Loy Hansen goes on deranged rant after players sit out game, says he’ll lay off employees and ruin team because of it

By Jacki Roig 1 month ago

Real Salt Lake owner Dell Loy Hansen has decided that he’s the real victim of the saga that unfolded across American sports on Wednesday. “The disrespect is profound to me personally,” he said of his players’ decision to sit out.

a man wearing a suit and tie talking on a cell phone: SANDY, UT - JULY 24: Owners of Real Salt Lake Dave Checketts (R) and Dell Loy Hansen (L) talk before a game against Chivas USA at an MLS soccer game July 24, 2010 at Rio Tinto Stadium in Sandy, Utah.

© Photo by George Frey/Getty Images/New York Daily News/TNS
SANDY, UT – JULY 24: Owners of Real Salt Lake Dave Checketts (R) and Dell Loy Hansen (L) talk before a game against Chivas USA at an MLS soccer game July 24, 2010 at Rio Tinto Stadium in Sandy, Utah.

Hansen made the comments in an ill-advised radio interview where he whined about the players’ strikes and said they would somehow force him to lay off employees and sign crappier players. The interview, which took place on a local Utah radio station, was transcribed in full by RSL Soapbox.

Hansen is an ultra-wealthy real estate investor who bought the Major League

Business

Women Are Hard To Find In Commercial Real Estate’s Fastest-Growing Asset Class

By Jacki Roig 1 month ago

Stephanie Rodriguez is used to being a unicorn.

As regional senior vice president of Florida operations with Duke Realty Corp., Rodriguez wears the hat of both industrial broker and developer. She identifies land, works with construction professionals to design and build on that land, and leases completed properties. In an asset class that has historically attracted male commercial real estate professionals and served male clients, it’s a rare mix.

“I’m the only woman in South Florida who does that,” Rodriguez said.

Demand for industrial assets has skyrocketed since the onset of the pandemic, reflecting consumer demand for e-commerce goods and services. It’s a busy — and lucrative — time to be in the sector. The trouble is, few women are.

Women in brokerage are relatively rare overall, accounting for 29% of commercial real estate brokers in the U.S. in 2020, according to the results of a forthcoming benchmark study from

Finance

UK finance jobs revival halted by coronavirus

By Jacki Roig 1 month ago

The COVID-19 pandemic killed a tentative revival in the City of London jobs market, new data shows.

Recruiter Morgan McKinley said on Monday that the number of new listings for financial services jobs in London rose by 8% in the first three months of 2020 compared to the final three months of 2019.

Job listings surged 97% in January, after Boris Johnson’s decisive election victory spurred optimism about a resolution to Brexit. Listings continued to grow in February but sank 38% in March as the novel coronavirus brought the UK economy to a halt.

“Out of the frying pan and into the fire,” said Hakan Enver, managing director at Morgan McKinley UK. “We barely got to take a breath between Brexit and this new global crisis.

“London came back in the new year, with a renewed optimism, which was reflective in the general mood of employees and employers alike. Soon

Insurance

An insurance fix for fire-prone areas that only an insurance company could love

By Jacki Roig 1 month ago

Homeowners in at-risk fire areas, such as Paradise, Calif., site of the 2018 Camp fire, are getting dumped by their insurance companies. <span class= — Homeowners in at-risk fire areas, such as Paradise, Calif., site of the 2018 Camp fire, are getting dumped by their insurance companies. (Los Angeles Times)

Homeowners in fire-prone areas of California have had it rough in recent years. Not only have they been threatened by gigantic, climate-change-fueled wildfires, but their insurance premiums have skyrocketed — if they haven’t been dumped by insurers worried about huge claims from the blazes that will inevitably come.

Over the course of four particularly bad fire years, from 2015 to 2018, more than 340,000 homeowners in rural areas were told by insurers their policies would not be renewed, according to the California Department of Insurance. Those unable to find another insurance company willing to write a new policy have been left with the high-cost option of last resort, the California FAIR plan.

It’s a bad situation — and it

Business

Study: 90% of industrial enterprises to utilize edge computing by 2022

By Jacki Roig 1 month ago

The multi-access edge computing market is expected to soar to $7.23 billion in revenue by 2024, according to Frost & Sullivan.

Smart industry control concept — Getty Images/iStockphoto

Industrial enterprises are increasingly turning to edge computing for the shorter latencies, robust security, responsive data collection, and lower costs it offers organizations, according to a new study from Frost & Sullivan.

The report looks ahead to 2024 and described edge computing as a “foundational technology” that 90% of industrial enterprises will be using by 2022. According to Frost & Sullivan analysts, edge computing will be key as industrial environments become more hyper-connected in the coming years with a litany of autonomous assets, remote asset monitoring, data extraction from stranded assets, autonomous robotics, autonomous vehicles, and smart factories.

The study estimates that the multi-access edge computing market may grow at a compound annual growth rate of 157.4%; it brought in revenue of $64.1 million in 2019 and

Finance

Accounting & Finance jobs in China

By Jacki Roig 1 month ago

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UIC now invites candidates for this position which is expected to be filled in September 2020: Professor/Associate/Assistant Professor in Financi…
UIC now invites candidates for this position which is expected to be filled in February 2020: Faculty Positions in Finance and Financial Services
BNU-HKBU United International College (UIC), located in Zhuhai, PRC and founded jointly by Beijing Normal University and Hong Kong Baptist Universi…
Formed in 2006, Xi’an Jiaotong-Liverpool University (XJTLU) is a joint venture of Xi’an Jiaotong University in China and the …
Xi’an Jiaotong-Liverpool University (XJTLU) is a unique collaborative institution and the first joint-venture university in China to …
SUSTech, officially established in April 2012, is a public institution funded by the municipal of Shenzhen, a special economic zone …

Insurance

11 Charged in Louisiana Staged Truck Crash Insurance Fraud Scheme

By Jacki Roig 1 month ago

Eleven people have been in indicted in what law enforcement officials say is an expanding probe into tractor-trailer accidents staged in New Orleans, Louisiana, to defraud trucking and insurance companies.

The 11 accused — 10 from Louisiana and one from Arkansas — are charged in a seven-count federal indictment, according to United States Attorney Peter G. Strasser. The charges are: one count of Conspiracy to Commit Mail Fraud in violation of Title 18, United States Code, Section 371; and six counts of Mail Fraud in violation of Title 18, United States Code, Section 1341.

If convicted, the defendants face a maximum penalty of five years for Count 1 and 20 years as to Counts 2-7. Upon their release from prison, each defendant can be placed on a term of supervised release for up to five years and fined up to $250,000.00 per count.

The Aug. 21 indictment charges the defendants

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The Logistics Report

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