Financial Solutions

Do Oil Companies Pay Their Fair Share in Taxes?

March 9th, 2012

There has been a lot of debate recently about oil and gas companies and the tax treatment they get in the United States. President Obama has on multiple occasions proposed increasing taxes on oil companies specifically, in addition to endorsing general corporate tax changes that would include oil companies.

Today’s Wall Street Journal (subscription required) provides some valuable context on what oil and gas companies actually pay in taxes:

The federal Energy Information Administration reports that the industry paid some $35.7 billion in corporate income taxes in 2009, the latest year for which data are available…That figure also doesn’t count excise taxes, state taxes and rents, royalties, fees and bonus payments.

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Tags: Taxes

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Insmed fourth quarter revenues increase to $1.4 million

March 9th, 2012

Insmed Incorporated (Nasdaq CM: INSM), a biopharmaceutical company, today reported results for the fourth quarter and fiscal year ended December 31, 2011.

Key Recent Highlights:

• Clinical hold lifted by U.S. Food and Drug Administration (FDA) for ARIKACE® (liposomal amikacin for inhalation) in patients with non-tuberculous mycobacterial (NTM) lung disease
• Insmed proceeding with four key ARIKACE studies:
  • Phase 2 clinical trial in NTM patients
  • Pivotal phase 3 clinical study in Europe in Cystic Fibrosis (CF) patients with Pseudomonas lung infections
  • Follow-on multi-cycle open-label study primarily to measure safety and tolerability for patients who complete the European pivotal phase 3 CF study
  • 9-month dog inhalation toxicity study
• Company submits complete response to FDA requests regarding CF clinical hold

“We have recently made significant progress with our ARIKACE program,” said Timothy Whitten, President and CEO of Insmed.

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Tags: Fourth Quarter, Quarter

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Frugal Chic…or Cheap?

March 8th, 2012

When I was a kid, I was standing in the grocery store check-out line with my Dad when the lady in front of us pulled out a pile of coupons and started handing them to the checker. My dad whispered something to me about having to wait, referring to the woman as a “penny pincher.” It was a harsh label for someone just trying to save money on groceries. But in some cases there is a stigma attached to people dedicated to saving more and spending less–especially those who save at the expense of others or who are afraid to spend money on anything. Here are things that I think define frugal living:

1. Saving is a means to an end. The end could be a trip to France, a $10k emergency fund that will bring you peace of mind, paying off the $3k credit card debt that has been weighing on you, a down-payment on a condo or all of the above.
2. It’s

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Interest Rates still at historic lows

March 6th, 2012

In order to help steady the economy, the Feds took positive action which kept mortgage rates at historic lows. Many felt this would be a short term policy, and once stopped, would result in rates returning to previous averages of 6 to 7%.

Yet the government has continued to hold up lower rates with hopes of promoting a recovery in the housing market. The 30 year fixed rate mortgage stays low at around 4%.  Rates seemingly continue to fall into early 2012.

The reduced rates along with remarkable prices have had a great impact on home affordability bringing more buyers into the market.

Tags: Historic Lows, Lows

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