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NYC sues roll-your-own cigarette shops over taxes
Headline News |
2011/11/21 17:32
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There is no place in the U.S. more expensive to smoke than New York City, where the taxes alone will set you back $5.85 per pack. Yet, addicts who visit Island Smokes, a "roll-your-own" cigarette shop in Chinatown, can walk out with an entire 10-pack carton for under $40, thanks to a yawning tax loophole that officials in several states are now trying to close.
The store is one of a growing number around the country that have come under fire over their use of high-speed cigarette rolling machines that function as miniature factories, and can package loose tobacco and rolling papers into neatly formed cigarettes, sometimes in just a few minutes.
The secret to Island's low prices is simple: Even though patrons leave carrying cartons that look very much like the Marlboros or Newports, the store charges taxes at the rate set for loose tobacco, which is just a fraction of what is charged for a commercially made pack.
Customers select a blend of tobacco leaves, intended to mirror the flavor of their regular brand. Then they feed the tobacco and some paper tubes into the machines, and return to the counter with the finished product to ring up the purchase.
The savings come at every level. Many stores sell customers loose pipe tobacco, which is taxed by the federal government at $2.80 per pound, compared with $25 per pound for tobacco made for cigarettes. The shops don't pay into the cigarette manufacturer trust fund, intended to reimburse government health programs for the cost of treating smoking-related illness. And the packs produced by "roll-your-own" shops are generally also being sold without local tax stamps, which in New York include a $1.50 city tax and a $4.35 state tax.
New York City's legal department filed a lawsuit against Island Smokes on Nov. 14, arguing that the company's Manhattan store and another on Staten Island are engaging in blatant tax evasion. |
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Court upholds conviction in Pa. murder case
Headline News |
2011/11/08 17:22
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The Supreme Court used its first opinion of the new term on Tuesday to uphold the murder conviction of a man in a Pennsylvania grocery store shooting.
The high court on Tuesday upheld Eric Greene's conviction in the 1993 shooting death of the owner of a grocery store in North Philadelphia.
Greene had complained that the confessions of some of the men who were with him at the time of the shooting should not have been introduced at his trial since they were not testifying. The introduction of those redacted confessions violated his right to confront his accusers, Greene said.
The 3rd U.S. Circuit Court of Appeals upheld his conviction, despite the fact that the Supreme Court had decided a similar case in 1998 that would have supported Greene's claim.
The Supreme Court, which heard arguments on this case in October, unanimously agreed with the lower court. The 1998 decision in Gray v. Maryland came after the Pennsylvania Supreme Court ruled on Greene's case, noted Justice Antonin Scalia, who wrote the term's first opinion of an argued case. |
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Court to look at life in prison for juveniles
Headline News |
2011/11/06 20:30
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The Supreme Court on Monday agreed to decide whether juveniles convicted of killing someone may be locked up for life with no chance of parole, a follow-up to last year's ruling barring such sentences for teenagers whose crimes do not include killing.
The justices will examine a pair of cases from the South involving young killers who are serving life sentences for crimes they committed when they were 14.
Both cases were brought by the Equal Justice Initiative in Montgomery, Ala. The institute said that life without parole for children so young "is cruel and unusual" and violates the Constitution.
The group says roughly six dozen people in 18 states are under life sentences and ineligible for parole for crimes they committed at 13 or 14.
Kuntrell Jackson was sentenced to life in prison in Arkansas after the shooting death of a store clerk during an attempted robbery in 1999. Another boy shot the clerk, but because Jackson was present he was convicted of capital murder and aggravated robbery.
Evan Miller was convicted of capital murder during the course of arson. A neighbor, while doing drugs and drinking with Miller and a 16-year-old boy, attacked Miller. Intoxicated, Miller and his friend beat the man and set fire to his home, killing the 52-year-old man. Miller's friend testified against him, and got life in prison with the possibility of parole. |
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Brower Piven Announces Investigation of El Paso Corp.
Headline News |
2011/10/17 17:09
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The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of El Paso Corporation and other violations of state law by the Board of Directors of El Paso relating to the proposed acquisition of the company by Kinder Morgan, Inc. The firm’s investigation seeks to determine whether El Paso’s Board breached its fiduciary duties by, among other things, failing to maximize shareholder value.
On October 16, 2011, El Paso and KMI jointly announced that they have entered into a definitive merger agreement whereby KMI will acquire all outstanding shares of El Paso for $26.87 per share based on the closing prices of each of the companies on October 14, 2011. The joint press release stated that the agreement provides that El Paso shareholders will receive for each of their shares $14.65 in cash plus 0.4187 KMI shares and 0.640 KMI warrants with a five-year term exercisable at $40.00 per share.
According to the joint press release, while under all circumstances El Paso shareholders will receive 0.640 KMI warrants per El Paso share held, subject to proration, El Paso shareholders will be able to elect, for each El Paso share held, either (i) $25.91 in cash, (ii) 0.9635 shares of KMI common stock, or (iii) $14.65 in cash plus 0.4187 shares of KMI common stock. According to the joint release, El Paso’s board, two members of which will join the KMI board after the transaction closes, has agreed not to solicit competing transactions. Further, under certain circumstances, according to the companies, KMI will receive a termination fee of $650 million, or over $0.90 per El Paso share, from El Paso. According to Yahoo! Finance, at least one analyst has set a price target for El Paso of $28 per share.
If you own El Paso common stock and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
hoffman@browerpiven.com |
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Ex-Justice Stevens optimistic about court's future
Headline News |
2011/10/11 16:47
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Retired U.S. Supreme Court Justice John Paul Stevens spent much of his 35 years on the court disagreeing with the majority, but he's bullish about the institution.
At a talk Monday at Princeton University, his biggest applause line was for his shortest answer. The question: Are you optimistic about the future of the court and the Constitution?
His answer: "Yes."
The 91-year-old retired justice had a public conversation with Princeton Provost Christopher Eisgruber, who served as a clerk for him in the 1989-1990 court session.
His talk came a week after the publication of his book "Five Chiefs," about the three chief justices he served under and the two others he got to know earlier in his legal career as a clerk and a lawyer.
Stevens, famous for his bow ties, donned one in Princeton black and orange for the occasion. During a tenure that was the third-longest in court history, he also became famous for disagreeing with the court's majority. Stevens was appointed by Republican President Gerald Ford, and by the time he left last year, he was perhaps the most reliably liberal member of the court. About half his 1,400 opinions were dissents
For some Princeton students, that made him a hero. One woman wore a T-shirt that said, "I (heart) JPS."
Stevens has regrets about upholding a Texas capital punishment law and wishes the court would change positions on sovereign immunity and allow lawsuits against the government.
Yet he's happy with the way the court works.
He appeared a bit taken aback when one student asked him if the court should have a way to enforce its own rulings. "It's true that the court has to rely on the executive branch," he said. "But I don't think that's ever been a problem."
He also that by the time he joined the court in 1975, it was a congenial place — something he said wasn't the case when he was a clerk there himself in 1947. |
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Bankruptcy judges asking $100 to cover Kagan talk
Headline News |
2011/10/05 17:46
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The national organization of bankruptcy judges says reporters are welcome to cover Supreme Court Justice Elena Kagan's talk at its convention in mid-October, if they pay $100.
Groups sometimes close their events to the press or allow reporters in with restrictions on the use of cameras and audio recorders. But it's very unusual to charge the news media merely to attend.
Kagan is scheduled to speak Oct. 15, at the end of the four-day conference in Tampa, Fla. She did not immediately comment on the fee arrangement.
Christine Molick, executive director of the National Conference of Bankruptcy Judges, says the $100 fee is greatly reduced from what other attendees must pay. Registration fees for some participants top $900, according to the organization's website. |
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Samsung Seeking To Block Sale Of New IPhone 4S
Headline News |
2011/10/05 10:46
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Samsung said it will file court injunctions in France and Italy seeking to block the sale of Apple's latest iPhone amid an intensifying patent fight between the smartphone giants.
Samsung plans to file preliminary injunctions in Paris and Milan asking that courts block Apple's iPhone 4S from being sold in France and Italy, alleging patent infringement of wireless telecommunications technology, the company said Wednesday.
"Apple has continued to flagrantly violate our intellectual property rights and free ride on our technology, and we will steadfastly protect our intellectual property," Samsung said in a statement.
The South Korean company did not say when the French and Italian filings would take place, but also said it plans similar moves in other countries "after further review."
The announcement comes one day after Apple Inc. unveiled the iPhone 4S in the United States.
Seoul-based Apple spokesman Steve Park, speaking by phone from Japan, declined to comment on Samsung's announcement.
The companies have been at odds since April when Apple took legal actions claiming Samsung's Galaxy line of smartphones and tablet computers copy the iPhone and iPad. Samsung has responded by taking Apple to court over what it alleges are violations of its patents covering wireless communications. |
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