Developers target intervenor rules

Developers and other business interests are gearing up for a legislative fight in an attempt to change one of Connecticut’s key environmental protection laws that they say is being abused and makes the state one of the most unfriendly places to do business.

The law, known as 22a-19, is part of the landmark Connecticut Environmental Protection Act and allows any individual to intervene in an administrative proceeding if they have concerns that a development will negatively impact the environment.

The intervention status allows development opponents to become a “full party” to any regulatory proceeding, like a wetlands commission hearing, and challenge permitting decisions to the courts, which can tie up proposed projects in the judicial system for years, creating tens of thousands of dollars in legal fees and delays that derail developments.

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US Airways: Yes, we’re looking at American

US Airways CEO Doug Parker confirmed Wednesday that his company is exploring a merger with American Airlines while that carrier is in bankruptcy, but said a merger is not imperative to US Airways’ survival.

Any combination of US Airways with another airline could have big effects for Charlotte Douglas International Airport, where the Tempe, Ariz.-based company operates about 90 percent of daily flights.

Parker’s remarks came during a conference call Wednesday, when US Airways reported its fourth-quarter and full-year earnings. Although profits were down in the face of higher fuel expenses, earnings fell less than analysts had predicted and the airline avoided posting a loss.

“We are, of course, always interested in studying potential value-enhancing opportunities,” Parker said of a merger with American. “We have indeed retained Barclays Capital, Millstein, and Latham and Watkins.

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Immigrant investors to Canada face backlog

With much of the world in economic turmoil, Canada makes an alluring safe haven. Yet at the very moment when wealthy foreigners are coveting our relative stability, they’re finding our doors more tightly barred—and the admission fee jacked up.

Canada is one of many developed countries willing to let rich foreigners buy their way in. Back in 1986, the federal government introduced the Immigrant Investor Program, which offered permanent residency in exchange for a three-year investment of $150,000. “If you have the money and you want to get into Canada quickly, this is a way to avoid the notorious waiting lists,” says Jeffrey Reitz, a sociology professor at University of Toronto. The U.S. and Britain subsequently established competing programs, and today such initiatives are found in many developed countries.

The thinking was the same everywhere: that nations benefit not only from interest-free loans, but from attracting an elite class of immigrant who would spend lavishly, and who might set up new businesses to boot. But rel

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Wal-Mart holiday price cuts hit profits

n”> – Wal-Mart Stores Inc’s price cuts hurt its fourth-quarter profit, reminding investors that steps the world’s largest retailer is taking to bring back shoppers do come at a cost.

Wal-Mart’s quarterly profit and sales fell short of Wall Street expectations and its forecasts suggest that results in this quarter and fiscal year may again disappoint analysts.

“Everything had the hint of conservatism in the guidance,” said ITG Investment Research senior hardline retail analyst John Tomlinson. “People are contemplating bear case scenarios, what they could mean for earnings growth.”

Shares of Wal-Mart fell 4 percent, erasing most of the gains so far in 2012. The stock had been up about 29 percent since August as its U.S. sales turnaround plan was starting to show progress.

Sales at Walmart U.S. stores open at least a year, or same-store sales, rose 1.5 percent.

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Times: Microsoft sharpens its advertising sword to jab rivals

From the Gmail Man, who peeks into people’s private mail, to the VMware salesman stuck in the ’70s, Microsoft’s marketing campaigns have become quite pointed in the past year.

This week, the company will launch another such campaign: “Smoked by Windows Phone,” a series of online ads challenging those who use iPhones, Android phones or other mobile devices to beat the speed of a Windows Phone in doing a browser search, sharing with their social network or shooting and posting a photo.

The 12 different digital ads featuring the challenge will run on tech sites as well as the Windows Phone Facebook page through the beginning of April.

Read more at The Seattle Times

Copyright: The Seattle Times


Money $marts: The real ruling class takes over

True stories: There’s a town in the U.S. in which local authorities have a rule that says any football team defeating another team by more than 50 points is automatically disqualified; it’s not nice to make the losing team feel bad.

In another town, a 5-year-old child’s lunch, packed by his mother, was confiscated because it was deemed not healthy; a sandwich and fruit but no vegetable. The mother was billed for a school-prepared lunch .

In a third town, parents of children selling lemonade in their front yard were fined $300 for operating an unlicensed business.

Despite their silliness, these rules cannot be dismissed as they are indicative of a larger problem. The U.S. is suffering from a proliferation of rules and regulations that is effectively undermining economic growth and prosperity.

Nowhere is this more evident than in Washington, D.C., where a dysfunctional Congress has gotten into the habit of passing legislation which no one has read while competing for the largest number of pages. Moreo

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