Posts Tagged ‘Cliff’

The Fiscal Cliff and Franchise Sales in the U.S.

Tuesday, January 15th, 2013

Ashburn, VA (PRWEB) January 11, 2013

The Riddiough Group (TRG) has launched a multi-faceted franchise marketing and sales program to help franchisors sell franchises throughout 2013 and beyond, whether the fiscal cliff is real or imagined.

Dr. Michael (Mick) Riddiough, President of The Riddiough Group, explains, Franchise companies that do the homework and implement our five elements in a franchise development program will avoid their own fiscal cliff.

The FIVE key elements of TRGs Fiscal Cliff Remedies program include:

1.

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Fiscal Cliff Could Send Homeowner Tax Breaks Over The Edge: Destiny Homes Offers Insights

Tuesday, December 4th, 2012


Minneapolis, MN (PRWEB) December 04, 2012

Led by a Reduplicate offer to Congress yesterday, the message tone has changed and demands home tax beaks that help homeowners and for serious spending cuts to avoid the fiscal cliff. In the midst of mania on the part of some homeowners to close short sale deals and avoid the December 31 expiration of tax breaks, housing supporters and real estate professionals are uniting and strong.

1) According to Boston Globe, yesterday, House Republicans put forth a $ 2.2 trillion “fiscal cliff” counteroffer to President Barack Obama, heralded by House Speaker John Boehner. The White House immediately rejected it saying it contains too few specifics on how funds would come from closing loopholes and deductions, as Boehner proposed, versus Obama’s way by means of raising taxes. Hoping congress would “respond in a timely and responsible way”, Republican are calling for raising the eligibility age for Medicare, lowering cost-of-living hikes for Social Security benefits and bringing in $ 800 billion in higher tax revenue.

Many are questioning where tax hikes will reach, and what will happen to the American dream of homeownership, if government keeps growing faster than the private economy.

Destiny Homes owner, Butch Sprenger, says, “

Home builders and remodelers are leading the housing market recovery, which is attributed for leading our economy by increases in home equity, new construction and the number of sold homes. We are at the edge of the fiscal cliff, and for some, on edge in general.”

2) The Center for Responsible Lending, a nonprofit group advocating for homeownership, and the Financial Services Roundtable, home mortgage lenders from the nations largest financial institutions, united in asking Congress to extend the Mortgage Forgiveness Debt Relief Act, which will otherwise expire shortly on December 31.

The two organizations express concern that allowing the Mortgage Forgiveness Debt Relief Act to expire at the end of the year will hinder the budding recovery. Our tax policy should not result in bad housing policy that will prolong a foreclosure crisis that has already gone on for too long, the groups state in their co-authored letter to lawmakers.

3) At the same time, the Congressional Budget Office estimates extending the relief could cost $ 1.3 billion in lost revenue to the federal government during a period when it is desperate for money, said Anthony Sanders, a George Mason University real estate finance professor who is in favor of an extension. People are already suffering enough who go through default and foreclosure, and to suddenly give them a tax bill is incredibly cold-hearted, Sanders said. The government was a major contributor to the housing bubble and burst, so its only fair that it extend the act to help households that have been absolutely crushed by the market.

4) Spencer Rascoff, chief executive officer of Zillow Inc., talks about the U.S. housing market on Bloomberg and says it has come through the worst and that more people say they are ready to buy a home now than in the last five years. Zillow did an analysis that included a 12 month increase. Home shoppers are back. Home values are going up; and homes are selling. He projects home prices will go up 2% in the next year.Zillow has been bucking the fiscal cliff. When asked if there was any selling out of stock due to the pending fiscal cliff, three day ago Rascoff said, “No, for us we are long-term believers. Near term changes to the tax code are not effecting us.

Congress is spinning to the final 28 days left to head off an economically toxic combination of tax increases and budget cut hits. “No one can say exactly what to expect if we go over the cliff. Two things are sure, we will know shortly and homeowners who have been cautious to savor a saving account will be in the better place,” comments Sprenger.

Additionally, some homeowners wonder how the new home sales tax, which is also implemented on January 1, 2013, or which homeowners who sell their homes will be taxed..

If you are seeking to build or renovate your home and live in the Minneapolis / St Paul area, call Destiny Homes at 952-934-5706.







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As Massachusetts Approves Gaming Properties, Casino Consultant Announces Three Elements of Fiscal Cliff That Could Worry Gaming Investors

Saturday, December 1st, 2012


Boise, Idaho (PRWEB) November 30, 2012

Tired of its residents spending their money at casinos in neighboring states, Massachusetts is debating about and licensing gaming properties, but the so-called fiscal cliff could pose a serious challenge before the casinos even become a reality, according Martin R. Baird, a casino consultant and chief executive officer of Robinson & Associates, Inc., a guest service consulting firm to the global gaming industry. Baird has announced three aspects of the cliff that could become a barrier to investment in Massachusetts gaming.

As its residents play at Connecticut, New York and New Jersey casinos, Massachusetts is knee deep in the casino debate and moving forward with licenses, but could it all disappear before it even happens? Baird asks. Casinos have been approved, but if the fiscal cliff happens, will investors behind some of those properties have second thoughts and withdraw their support?

Economic concerns of another kind already have caused one Massachusetts mayor opposed to gaming to change his mind. Holyoke Mayor Alex Morse said Nov. 26 that he was worried about the economic impact on his city from a casino going up in nearby Springfield. Morse said he is willing to negotiate with a developer to bring a resort casino to Holyoke.

There are three major factors coming out of the fiscal cliff that could have a catastrophic impact on the casino industry in Massachusetts, Baird says. They are federal tax increases, state tax increases and increased competition. Simply put, when taxes go up, people have less to spend. When competition increases, they have more places to spend the little money they have left. That would translate into hard times for casinos in the very near future.

Federal Taxes. If President Obama and Congress cannot reach an agreement on the fiscal cliff, federal taxes on almost all Americans will increase, Baird says. The payroll tax holiday will come to an end, Baird says. Washington is talking about reducing the mortgage tax deduction, shifts in the alternative minimum tax that would take a larger bite and starting the death tax at $ 1 million. The Congressional Budget Office sees the potential for a recession in 2013 with all these changes.

When hard-working families in Massachusetts are forced to send more money to Washington, they will have fewer dollars to spend on entertainment, Baird says. Casinos are part of the entertainment industry and customers with a thinner wallet will either spend less on the casino floor or not show up at all, Baird adds.

Massachusettss farm families could be hard hit, Baird says. They could really suffer because Congress is looking at higher taxes on people making over $ 250,000 a year and lowering the death tax to estates of $ 1 million, Baird says. Add the potential of higher taxes on dividends to those two changes and one of the most important groups to the casino industry seniors also would be significantly impacted.

State Taxes. Federal spending cuts are also part of the fiscal cliff and that would mean less money for states, according to Baird. This means that states will need to increase revenue from other sources, Baird notes. Casinos have a giant bulls-eye on their back when it comes to taxes. Sin taxes are always the easiest ones for politicians to pass. When looking around for new revenues for education and social services, it wouldnt be surprising at all if legislators focused on casinos.

Increased Competition. New competition is coming from other states in the region, Baird says. The challenge is that many states now allow casinos and that means less revenue for states like Massachusetts, Baird notes. The competition is coming from virtually all sides geographically as a result of states scrambling to increase revenue.

So what can casinos do?

Casino executives have little to no control over these looming problems, Baird says. But they do have control over the products and services they offer, and now is the time for them to take a hard look at those areas so they are prepared for whatever decisions the president and Congress make.

When it comes down to it, casinos that have great service and offer an amazing gaming experience will make it through the hard times. With 20 years of casino consulting experience, our company has never seen anything like this and casinos better take action now if they want to survive.

Robinson & Associates has created a presentation on the fiscal cliff. To obtain a copy of the presentation, contact Lydia Baird, director of business development, at 208-991-2037 or lbaird(at)raresults(dot)com.

About Robinson & Associates

Martin R. Baird is a casino consultant and chief executive officer of Robinson & Associates, Inc. For 20 years, Robinson & Associates has been dedicated to helping casinos improve their guest service so they can compete and generate future growth and profitability. A Boise, Idaho-based consulting firm to the global gaming industry, Robinson & Associates is the world leader in casino guest experience measurement, management and improvement. Recently, it announced Simply Share, a real-time customer feedback platform that makes it fast and easy for casino customers to share their experience directly with casinos instead of posting comments online at social media sites.

For more information, visit the companys Web site at http://www.casinocustomerservice.com or contact Lydia Baird, director of business development, at 208-991-2037 or lbaird(at)raresults(dot)com. Read about casino customer service improvement at Martin Bairds blog at http://www.mbaird.blog.com. Robinson & Associates is a member of the Casino Management Association and an associate member of the National Indian Gaming Association.

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