tagged w/ Cayman Islands
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Ever heard of the "Dutch Sandwich?" -- It's not really a sandwich. It's a clever tax loophole that allows Google to avoid paying Billions in U.S. Taxes each year...
http://veracitystew.com/?p=33235Ever heard of the "Dutch Sandwich?" -- It's not really a sandwich.... more
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But tax experts tell ABC News there are other reasons Romney may not want the public viewing his returns. As one of the wealthiest candidates to run for president in recent times, Romney has used a variety of techniques to help minimize the taxes on his estimated $250 million fortune. In addition to paying the lower tax rate on his investment income, Romney has as much as $8 million invested in at least 12 funds listed on a Cayman Islands registry. Another investment, which Romney reports as being worth between $5 million and $25 million, shows up on securities records as having been domiciled in the Caymans.
Official documents reviewed by ABC News show that Bain Capital, the private equity partnership Romney once ran, has set up some 138 secretive offshore funds in the Caymans.
....but "people are really losing patience with the idea that a lot of multinational corporations have and a lot of wealthy people have that while they benefit from everything this country has to offer … they don't seem to be willing to pay their fair share," she said.
http://tinyurl.com/6tqz9azBut tax experts tell ABC News there are other reasons Romney may not want the public... more
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LOrion
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4 months ago
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There was a four year campaign for Wales to own the .cym domain for websites which are local Welsh government and businesses, but they lost it to the Cayman Islands.
"The Cayman Islands already has its own internet domain, .ky, but it is also registered to use .cym. [..] "We'd like to hear the views of people on which domain they'd like to use, for instance .cymru .cwl (Cymru Wales) or .wales."-BBC
I'm guessing if all else fails again, they could always release the Dragon!There was a four year campaign for Wales to own the .cym domain for websites which are... more
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Unfortunately, this is a civil action(http://voices.washingtonpost.com/market-cop/2010/07/politically-connected_wyly_bro.html?hpid=topnews) and the most we can hope for are some SEC fines (which are ludicrously low). Too bad this isn't a criminal case, but at least it's some karmic return for the "Wyly Coyotes," who funded the Swift Boat attacks on John Kerry. (They also funded George W. Bush's attacks on John McCain in the 2000 Republican primaries.)
Oh, and by the way: The Manhattan district attorney's office referred this case to the SEC in 2005. Wonder what took them so long?
Samuel Wyly and Charles Wyly -- billionaire brothers in Texas who have spent millions funding political campaigns -- committed violations of federal securities laws and fraud by using offshore accounts to secretly trade the shares of public companies whose boards they sat on, reaping more than $550 million in profit, according to a Securities and Exchange Commission complaint filed Thursday.
The politically-active Wylys, who have been generous donors to Republican causes over the years, have faced questions in recent years -- including a Senate probe -- about whether they ran an extensive network of tax shelters.
"The cloak of secrecy has been lifted from the complex web of foreign structures used by the Wylys to evade the securities laws," said SEC deputy director of enforcement Lorin L. Reisner. "They used these structures to conceal hundreds of millions of dollars of gains in violation of the disclosure requirements for corporate insiders."
The SEC alleges that the brothers created an elaborate network of accounts and companies in the Isle of Man and the Cayman Islands that they used to trade more than $750 million in stock in four public companies they served as board members. The SEC charges that they also committed an insider trading violation concerning one of the companies, earning almost $32 million.
The Wyly's attorney and stockbroker were also charged.
They also own Michaels, the national arts and crafts chain. So we can blame them for scrapbooking, too!Unfortunately, this is a civil... more
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You get what you pay for, and these days Americans are increasingly unwilling to pay for much. It’s a trend that applies to both the marketplace and the public square and many buyers are unaware their actions contribute to a host of problems the nation faces.You get what you pay for, and these days Americans are increasingly unwilling to pay... more
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Up there (^) is a video. It is the Kings of Convenience doing their song "Cayman Islands". Below is a piece of a story from The New York Times (v). In the story the Times mentions this band. See how it all fits together?
Story: Norwegian songwriters traveling light came to the Bowery Ballroom this week. On Tuesday Sondre Lerche played solo, and Thursday brought Kings of Convenience, the duo of Erlend Oye and Eirik Glambek Boe. They all arrived with only their guitars, their finely turned melodies, their reflections on music and relationships, and, displayed just as openly, level upon level of self-consciousness. The music was unadorned but not simple.
Scandinavia has become a repository of old-fashioned pop expertise, from Top 10 hit makers like the Swedish pop producer Max Martin and the Norwegian pop-R&B team Stargate to indie-rockers from Sweden like Lykke Li and Peter Bjorn and John. The less the music aims for blockbuster mass appeal, the more it unveils the little choices and nuances that trigger an emotional response.
Temperamentally, Mr. Lerche and Kings of Convenience were opposites: outgoing versus reserved. But they shared an analytical streak, revealing as much pride in craftsmanship as in feelings. Their love songs are also about loving songwriting, and when they perform they’re like magicians who reveal how a trick is done, then make it startling anyway.
Here is the link to the rest of the story: http://bit.ly/CN13bUp there (^) is a video. It is the Kings of Convenience doing their song "Cayman... more
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The Cayman Sea Sense project is a sustainable seafood education program dedicated to helping restaurants and their customers make informed and environmentally positive seafood choices. The project will assist local chefs and restaurant owners reduce the number of non-sustainable seafood items on their menus.
Be sure to print out the card on the page if your heading there.The Cayman Sea Sense project is a sustainable seafood education program dedicated to... more
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lockus
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3 years ago
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The U.S. National Hurricane Center says Hurricane Paloma in the Caribbean has become "extremely dangerous" as it pounds the Cayman Islands and heads toward Cuba.
Forecasters say the hurricane is on course to hit Cuba late Saturday or early Sunday, though it is expected to weaken by that time.
The U.S. National Hurricane Center says Hurricane Paloma in the Caribbean has become... more
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The Cayman Islands were colonized from Jamaica by the British during the 18th and 19th centuries, and were administered by Jamaica after 1863.
In 1959, the islands became a territory within the Federation of the West Indies, but when the Federation dissolved in 1962, the Cayman Islands chose to remain a British dependency.
The Cayman Islands are located in the western Caribbean Sea, comprising the islands of Grand Cayman, Cayman Brac, and Little Cayman.
It is a global offshore financial services centre and one of the leading tourist scuba diving destinations in the world. The Cayman Islands were colonized from Jamaica by the British during the 18th and 19th... more
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Hey, folks! Kelly here, giving you the lowdown on some of last week’s most awesome new pods.
Let’s start out with our latest Leaderboard winner, Down to Dribble by Danielmklopp:
http://current.com/items/89303483_down_to_dribble
This is an inspiring pod about a group of guys from the US who travel to Peru to set up a four-day basketball camp for the young boys of an impoverished village. Check it out!
Next up, Family of Skin Bleachers by sassyvelvet gives us insight into the practice of skin bleaching in Jamaica:
http://current.com/items/89328481_family_of_skin_bleachers
This disturbing trend seems to be reaching new heights of popularity across the globe, and this pod reveals some of the social pressures that drive both women and men to bleaching, as well as the potentially devastating side effects.
For something a little more lighthearted, raskin gives us China's Tsingtao Beer:
http://current.com/items/89328614_china_s_tsingtao_beer
The beer festival has been pushed back a whole month, but that doesn’t mean that Li Du and Zach Mexico can’t make a beer festival of their own! Travel with them as they reveal some of the history behind China’s Tsingtao Beer and bring us some highlights from Beer Town.
Speaking of overseas, if you’ve ever wondered about the business of offshore banking, trousersOsaurus_rex enlightens us with his pod, Offshore Banking 101:
http://current.com/items/89326557_offshore_banking_101
I’m afraid it’s not as shady or exciting as the movies make it look, but hearing about the rise of banking in the Cayman Islands is interesting all on its own. And hey, in the midst of a financial crisis, a little tax-free banking might be sounding good right about now, right?
And finally, cinquanta5000 speaks to the author of the best-selling book “The Pirate's Dilemma” in this pod, Pirate’s Dilemma:
http://current.com/items/89320897_pirate_s_dilemma
A teasing insight into the effect of pirating on social evolution and innovation, this pod just makes you want to hear more. Not to worry, the book is up for download on The Pirate Bay.
I hope you enjoyed this week’s Spotlight, and I’ll be back next week with more. Happy Tuesday, Current!Hey, folks! Kelly here, giving you the lowdown on some of last week’s most... more
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Hurricane Gustav is moving towards the Cayman Islands as it continues to threaten Cuba and the US Gulf Coast. The storm has already killed at least 71 people as it passed through the Dominican Republic, Haiti and Jamaica. Gustav could develop into a category three storm over the weekend as it passes over warm waters.
The warnings came as New Orleans buried some of the last unidentified victims of Hurricane Katrina, which devastated the city three years ago. Both New Orleans and coastal Mississippi have been holding commemorations for the victims of Hurricane Katrina on the anniversary of the storm sweeping ashore.
Away from the US, Gustav strengthened from a tropical storm on Friday to become a category one hurricane and currently has sustained winds of up to 130 km/h (81mph), officials said.
The storm hit Jamaica with heavy rains and strong winds, tearing roofs off houses. It is now moving slowly, at about 12km/h (7.5mph), and there are fears that it could intensify as it lingers over the warm, deep waters of the Caribbean Sea.
Cuban authorities have already evacuated more than 60,000 people from low-lying coastal areas and have mobilised medical and emergency rescue teams to deal with the possible aftermath. The BBC's Michael Voss, in Havana, says that Cuba has one of the most efficient disaster preparedness and evacuation organisations in the region, but that the poor condition of housing in the capital could pose additional risks in a major storm. Gustav's projected path also takes it over the oil-producing Gulf of Mexico.
On Friday, residents of the Cayman Islands were boarding up windows and stocking up on supplies of food and fuel. Tourists on the low-lying luxury islands were flown to safety or told to ride out the storm in bunkers. Workers were being evacuated from oil rigs in the Gulf of Mexico, as oil prices on trading markets rose amid forecasts Gustav could threaten oil installations in the region.
(continued at link)Hurricane Gustav is moving towards the Cayman Islands as it continues to threaten Cuba... more
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