When it comes to those that are spending 10 thousand or less it is perfectly understanding with. 3 percent of the totem spending why you wouldnt audit any. I worry about the message that sends. We are saying if you spend 10 thousand of less you have zero risk if you misspent the funds and not sure that is the message we want to send. Even if it is a rel tivly token percentage at least it sends a message there is some risk that fraudulent reporting would be caught and fined by the commission. My other concern, when it comes to the audit i think a lot of that depends on how quickly you can ge through them. One thing im concerned is lets make sure we do them faster and if people dont comply we should hold it against them and not wait for them to give materials. If you tell me it is lot faster than the past then what you suggested makes sense. If it is about the same speed than we run the risk where candidates who lose dont have a vested interest complying and may be long gone by the time
Managing payroll and benefits. We speak with the ceo of zenefits. To the lead. We have breaking news, the Obama Administration is taking aim at Corporate Tax and version. Inversion. A wave of companies are seeking foreign mergers for taxation purposes. We are joined by cory johnson and peter cook in washington. What steps are the government taking is the government taking . It only involves deals closing today and forward. It is not retroactive. That was a big question. How far back would they try to reach, if at all . We know it is not retroactive. What they are doing with the rules, it is safe to say that they have chosen to do things that Tax Professionals and tax attorneys i have been talking with over the last couple of weeks thought this is where treasury was heading. Jack lew said that he did not think treasury had any tools in the toolbox to deal with these issues. What they are doing is hopscotching. It limits firms. It makes it less economically attractive Going Forward. They
Exxonmobil and t. Boon pickens. Jcpenney getting a big downgrade. And more optimism for apple. Another analyst ups the price target. First up, one day after the dow closed at record highs, the private sector added 208,000 jobs last month. That was a bit below street forecast. Meantime, Oil Prices Rising slightly this morning but down almost 35 from six months ago. Last night on mad money, Oil Tycoon Boone Pickens says he expects crude to return to 100 a barrel. Take a listen. Weve increased production, a Million Barrels a year for the last three years. And that is remarkable. No place else in the world has that happened. So consequently, i think youre probably going to see opec do something in the First Quarter of next year as far as cutting production. But im not so sure how much they have to cut to get to where i said you would be in 12 to 18 months. Youll be back at 100 a barrel. Fascinating. There is a school of thought that when production responds, you will overshoot the opposite
Things happening . And then i real off the positives even though the averages are spending most of the time in the red lately. Unlike today the dow dropped 100 points. S p declined 0. 63 . Nasdaq fell 0. 4 . Give it a try beginning with pet smart. Why on earth is someone paying 8. 3 billion to buy a pet store chain for 83 per share, the biggest leverage buyout of the year. 28 bucks above where the stock was seven months ago. Its not like its an amazing company. This chain is problematic. In nature frankly. It has been viewed as total amazon prey for several years as it missed quarter after quarter starting in 2012 and considered and also ran with slowing samestore sales, second rate omni channel falling by the wayside. It had been downgraded and downgraded and downgraded more. It became the butt of many jokes. Including that if amazon could ship pets, pet smart would have no more business. And in the meantime pet smart was starting to turn around but the brilliant web acquisition. An i
No idea how the nurse treating the now deceased dallas ebola patient contracted the virus herself. Does the government have a handle on this outbreak . Were live in dallas with the latest. In the markets heres how the major indexes stand w. The new look today. Off about 34 points. At the moment, you are looking there on the screen at the percentages. Red for the majors. Russell, surprisingly, though, up half a percent today. A little bit of a leading gauge for everybody else. Speaking of new looks, russell 2000, thiss a new look. Up. Thats right. Been on a steady decline since july. A real point of concern for people who watch the market closely and a bounce today back positive by it was up more than 1 and now a half percent. Absolutely. All right. Joining the closing bell exchange, sam stovel, anthony chance and, guys, welcome. I was looking at the notes here. I see renee says market showing signs of being tired. Sam says end of the year. Lucky to have a singledigit gain. Anthony says