Source: stevengoddard.wordpress.com --- Saturday, August 03, 2013
Turbine Trouble: Ill Wind Blows for German Offshore Industry The shift in the direction of political winds immediately affected the turbine builders. Several companies that were recruiting on a large scale only a few months ago are now laying people ? Continue reading ? ...
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By Gil Aegerter, Staff Writer, NBC News
Newsweek is being sold to an online news company, less than a year after it ended publication of its weekly print magazine and went all digital.
IBT Media, which publishes the International Business Times, said it was acquiring Newsweek from IAC, run by Barry Diller. Terms weren?t disclosed.
?"We believe IBT will serve as an excellent new home in which?Newsweek?has the opportunity to thrive," read a memo to employees from Rhonda Murphy, interim CEO of the Newsweek Daily Beast Company.?
Newsweek once had a circulation of 3 million but was in decline when it merged with The Daily Beast in 2010. It ceased print publication on Dec. 31. The deal with IAC is for the Newsweek brand and its online publication, IBT Media said in a statement.
?We respect the brand's long history of delivering high-quality, impactful journalism and believe this aligns well with IBT Media's culture and mission,? Etienne Uzac, co-founder and chief executive officer of IBT Media said in the statement.
IBT Media, which was founded in 2006, said it planned to continue the online publication as a wholly owned subsidiary of IBT Media.
IAC would continue to operate Newsweek for up to 60 days after the deal closes, IBT said. It said Newsweek would return to the URL http://www.newsweek.com.
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Lyon president Jean-Michel Aulas has confirmed the club has agreed a fee with Newcastle for Bafetimbi Gomis, and he expects the transfer to take place in the next 48 hours.
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Aulas told French website Journal du Dimanche: "We accepted the proposal of Newcastle, which is 8 million euros, plus 2 million bonus.
"The agreement is now linked to the acceptance of agents' fees. I understand that the problem is in the amount and manner of payment of commissions.
"There are several people involved in the operation, which complicates the negotiations. But I am hopeful that things will be resolved within 24 or 48 hours."
Newcastle are not expected to have any problems agreeing personal terms with Gomis, with some reports in France suggesting Newcastle and the player had an agreement in place three weeks ago.
Gomis, who has played 12 times for?France, has been one of the most consistent players in the French league in recent years, scoring at least 10 goals in each of the last seven seasons.
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Italy's goalkeeper Gianluigi Buffon reacts during the Euro 2012 semi-final soccer match against Germany at National Stadium in Warsaw, June 28, 2012. REUTERS/Thomas Bohlen
The Los Angeles Galaxy and Juventus will face off in the International Champions Cup with a chance at fifth place at stake.
The Italian giants struggled to mount a sustained attack against Everton in their first game and had to settle for a 1-1 draw after 90 minutes. In the penalty shootout, Everton goalie Tim Howard dominated the opposition and helped his club to a victory.
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Meanwhile the Los Angeles squad struggled mightily in its opener against Madrid. The squad wound up losing 3-1 and failed to generate many attacking options throughout the game.
According to Goal.com, here are the rosters for each club.
Juventus Roster
Goalkeepers: Gianluigi Buffon, Marco Storari, Rubinho, Leonardo Cite
Defenders: Giorgio Chiellini, Martin Caceres, Angelo Ogbonna, Paolo De Ceglie, Federico Peluso, Andrea Barzagli, Marco Motta, Leonardo Bonucci, Stephan Lichtsteiner, Pol Garcia, Filippo Penna
Midfielders: Claudio Marchisio, Paul Pogba, Luca Marrone, Fausto Rossi, Simone Padoin, Andrea Pirlo, Kwadwo Asamoah, Arturo Vidal, Mauricio Isla, Marcel Buchel
Forwards: Mirko Vucinic, Carlos Tevez, Fernando Llorente, Fabio Quagliarella, Alessandro Matri, Sebastian Giovinco
LA Galaxy
Goalkeepers: Carlo Cudicini, Brian Rowe, Brian Perk
Defenders: Todd Dunivant, Omar Gonzalez, Sean Franklin, Bryan Gaul, A.J. DeLaGarza, Tommy Meyer, Leonardo, Kofi Opare, Greg Cochrane
Midfielders: Pablo Mastroeni, Marcelo Sarvas, Landon Donovan, Colin Clark, Robbie Rogers, Hector Jimenez, Juninho, Rafael Garcia, Michael Stephens, Kenney Walker, Oscar Sorto
Forwards: Robbie Keane, Charlie Rugg, Gyasi Zardes, Chandler Hoffman, Jack McBean, Jose Villarreal
Prediction: Juventus dominates this one and earns a 3-0 win.
Start Time: 10:30 PM EST
TV: ESPN Deportes Check out Live Stream Info HERE. Follow Live Score HERE.
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The State Department issued the warning, which lasts through August 31, and is also closing down embassies this weekend.
The US Department of State, seen here in a file photo. The State Department is closing embassies and issuing a travel warning due to terror threats.
J. Scott Applewhite/AP File
EnlargeThe United States issued an extraordinary global travel warning to Americans Friday about the threat of an al-Qaida attack and closed down 21 embassies and consulates across the Muslim world for the weekend.
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The alert was the first of its kind since an announcement preceding the tenth anniversary of the 9/11 terrorist attacks. This one comes with the scars still fresh from last year's deadly Sept. 11 attack on a U.S. diplomatic post in Benghazi, Libya, and with the Obama administration and Congress determined to prevent any similar breach of an American Embassy or consulate.
"There is a significant threat stream and we're reacting to it," said Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff. He told ABC News in an interview to be aired Sunday that the threat was "more specific" than previous ones and the "intent is to attack Western, not just U.S. interests."
The State Department warning urged American travelers to take extra precautions overseas, citing potential dangers involved with public transportation systems and other prime sites for tourists and noting that previous terrorist attacks have centered on subway and rail networks as well as airplanes and boats. It suggested travelers sign up for State Department alerts and register with U.S. consulates in the countries they visit.
The statement said that al-Qaida or its allies might target either U.S. government or private American interests. The alert expires on Aug. 31.
The State Department said the potential for terrorism was particularly acute in the Middle East and North Africa, with a possible attack occurring on or coming from the Arabian Peninsula.
U.S. officials pointed specifically to Yemen, the home of al-Qaida's most dangerous offshoot and the network blamed for several notable terrorist plots on the United States, from the foiled Christmas Day 2009 effort to bomb an airliner over Detroit to the explosives-laden parcels intercepted the following year aboard cargo flights.
"Current information suggests that al-Qaida and affiliated organizations continue to plan terrorist attacks both in the region and beyond, and that they may focus efforts to conduct attacks in the period between now and the end of August," a department statement said.
The alert was posted a day after the U.S. announced it would shut many diplomatic facilities Sunday. Spokeswoman Marie Harf said the department acted out of an "abundance of caution" and that some missions may stay closed for longer than a day. Sunday is a business day in Muslim countries, and the diplomatic offices affected stretch from Mauritania in northwest Africa to Afghanistan.
"I don't know if I can say there was a specific threat," said Rep. Eliot Engel of New York, the House Foreign Affairs Committee's top Democrat, who was briefed on the State Department's decision. "There is concern over the potentiality of violence."
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U.S. Representative Anthony Weiner, a Democrat from New York, listens to questions during a news conference in New York, U.S., on Monday, June 6, 2011. Weiner apologized today for sending inappropriate photos and texts to women via Twitter and said he isn't resigning. Photographer: Jin Lee/Bloomberg via Getty Images
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After a brief honeymoon period during which it looked like he might actually win his dream job, Anthony Weiner is tanking in the polls and has almost no chance of getting elected mayor of New York City. (When the latest news stories about you involve your staffer calling a former intern a ?slutbag? and a porn being made of your life, it?s safe to say your political career is in trouble.) Plenty of people will be happy to see him go, mostly because of his habit of sending wiener pics and sexts to women who are not his wife, then lying about it until he gets exposed in every sense of the word. But if he loses the election (or his long-lost sense of dignity spurs him into withdrawing from the race) over the headline-friendly penis photography habit, he?ll have been him cast out for the wrong reasons. Weiner has done many terrible things in his storied political career, and the sexting?and the torrent of lies that has gone with it?doesn?t even scratch the surface. Here are three of the most glaring reasons we should be glad he (probably) won?t get the chance to reach higher office:
Read the whole story at VICE
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Source: http://www.huffingtonpost.com/2013/08/02/good-riddance-to-anthony-_n_3698091.html
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In case you haven't noticed, text-based search results simply don't cut it anymore -- users are looking for people, pictures and social context. Naturally, Twitter is keeping up with the times, updating its own search bar with socially aware suggestions, previous search data and more robust results. The general search experience hasn't changed, of course, but the changes do tweak the experience for the better.
Suggested accounts, for instance, are now underlined by users you know that follow them, and simply leaving your cursor in the search field offers a preview of recent and saved searches. Results have more meat too, offering tabs for matching users and photos, as well as displaying them within the standard results stream. A revolution in social search algorithms? Probably not, but it should make it a little easier for you to keep up with the latest celebrity gossip.
Filed under: Internet
Source: Twitter
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A GOP food stamp cut would reduce current funding by $4 billion. The legislation, backed by House Majority Leader Eric Canror, would reduce the current program by five percent.
The Supplemental Nutrition Assistance Program, or SNAP, is the official name of the food stamp program. Most states have stopped using the actual paper stamps.
In most cases, stamps have been replaced with debit cards, which are reloaded with funds each month. The cards cannot be used to get cash, and purchased food must fall under specific guidelines.
Program participants often argue that the monthly allotment is barely enough to feed a family. Things may get a lot worse, as the GOP food stamp cut would reduce the monthly allotment.
As reported by Fox News, funding for the SNAP program has doubled in the last five years. House Republicans want to reduce the increased spending by cutting the program by five percent, which would be around $4 billion each year.
Marlin Stuzman and Kristi Noem, who helped design the bill, have suggested several new restrictions and requirements along with the cuts. They explain that the new requirements would help reduce the number of people receiving assistance.
The new legislation will likely require participants to seek employment and submit to drug testing. They have also suggested banning convicted murderers, rapists, and pedophiles, from receiving assistance.
As reported by San Francisco Gate, Many House Republicans are in support of the bill. However, it will not pass without votes from House Democrats. Additionally, some moderate Republicans have expressed disapproval of the bill.
President Obama has made it clear that he agrees with the House Democrats? opposition to the bill. As millions of Americans continue to struggle from the recession, Obama is concerned that people would literally go hungry.
The GOP food stamp cut may not have the backing it will need to become law. However, it is strongly supported by many House Republicans.
[Image via Flickr]
Source: http://www.inquisitr.com/884614/gop-food-stamp-cut-4-billion-annually/
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House Speaker John Boehner of Ohio takes reporters' questions on NSA leaker Edward Snowden, the economy, and the unfinished work of the House in passing a spending bill, as Congress prepares to leave for a five-week recess, Thursday, Aug. 1, 2013 during a news conference on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite)
House Speaker John Boehner of Ohio takes reporters' questions on NSA leaker Edward Snowden, the economy, and the unfinished work of the House in passing a spending bill, as Congress prepares to leave for a five-week recess, Thursday, Aug. 1, 2013 during a news conference on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) ? President Barack Obama is meeting with lawmakers to discuss surveillance programs run by the National Security Agency.
The private Oval Office meeting is to discuss concerns about privacy.
Obama's national security team is trying to keep its surveillance powers intact while acknowledging some limitations appear inevitable. The White House says Obama wants to hear from Congress directly, including from critics.
The bipartisan meeting comes after Russian authorities granted temporary asylum to NSA leaker Edward Snowden.
The chairmen and ranking minority members of the House and Senate intelligence committees were also attending. They issued a joint statement saying they've reviewed the programs in question and believe they are legal and contribute substantially to counterterrorism. They say their committees are developing ideas to reassure Americans and improve transparency and privacy protections.
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Minnesota Vikings Adrian Peterson has lofty goals, but none is loftier than Emmitt Smith's NFL career rushing record. The reigning league MVP said he pass Smith during the 2017 season, and even has a date in mind, according to the Minneapolis Star-Tribune.
Peterson, 28, rushed for 2,097 yards last season, eight yards fewer than Eric Dickerson's single-season rushing record of 2,105. His goal for this season is to reach 2,500 yards.
As for Smith's mark of 18,355 yards, Peterson told the paper that he can get there by Week 16 of the 2017 season, well ahead of his current pace of Week 4 of 2019.
Peterson currently has 8,849 yards. By his estimate, he would need to average 120.3 yards per game over a 79-game span to collect the 9,507 yards needed.
"Whoo. That's pushing it, huh? But hey, pushing it is the only way to do it. You know it," he told the Star-Tribune.
---The quietest New Orleans Saints' offseason in years remained that way through the early stages of training camp, thanks to fourth-year tight end Jimmy Graham.
With 215 receptions and 25 touchdowns in his first three seasons, Graham has clearly out-performed the rookie contract he signed in 2010 and will likely become the highest-paid tight end either this fall or next spring.
But while some players in his situation would have at least been tempted to hold out and skip training camp to get a contract extension to ensure his long-term financial security, Graham reported on time last week.
Despite watching fellow tight ends Rob Gronkowski and Aaron Hernandez from the same draft class get huge deals that average around $8 million per season, Graham is scheduled to earn $1.323 million in base salary this season after making $540,000 a year ago.
If a new contract and financial security is on his mind, the 6-foot-7, 260-pound Graham isn't showing it. Through the first few days of camp, he politely took every question about his contract status in stride.
"Whenever that happens, it's going to happen," Graham said of a new contract. "I'm not too concerned about it. I know if I do what I do on the field and I keep being productive and help this team win, I'm going to be taken care of."
And it's clear he doesn't want it to become a distraction.
"I'm just here to play football," he said. "I don't really worry about all of that stuff. It will take care of itself."
The Saints have to appreciate that kind of talk, but they fully realize they're going to have to sign Graham to a long-term deal, perhaps soon, or franchise him next March.
At the outset of camp, general manager Mickey Loomis said it's a possibility the deal could get done before free agency begins. At the same time, he noted he hasn't seen any sign of frustration from Graham about not having a new deal.
Meanwhile, Graham will just go about his job every day.
"To each his own," he said of not holding out. "I'm the type of player that it's just about football. I just want to play. It's as simple as that."
---While New England Patriots coach Bill Belichick continues to dance around how he'll employ Tim Tebow, the former Heisman Trophy winner appears to be settling in at quarterback, according to a Boston Globe report.
"Ninety-nine percent of Tebow's activity during his time with the Patriots has been spent learning to play quarterback in the team's system," writes the Globe's Ben Volin. "He has only spent time in the quarterback meeting room, he wears a red non-contact jersey on the field and he runs the third-team offense during team drills."
Tebow does log minutes during each practice catching passes with the skill-position players, though offensive coordinator Josh McDaniels told the paper Monday that Tebow does that because, as a scrambling quarterback, he'll have chances to carry the ball.
"He's just practicing his open-field running," McDaniels said. "Matt Cassel and (Doug) Flutie and some of those other guys I've had a chance to coach, I think we did the same types of things with them. And again we know Tim has a skill set that some of these other guys don't possess in terms of his ability to run with it, scramble with it when he has it in his hands."
For his part, Belichick barely shed any light on the subject.
"I think that we'll use Tim wherever we feel like he's best for the team, and I know that's what he's committed to doing as well," Belichick told reporters last week. "Whatever that is."
---Trey Dolezal, the attorney for former NFL quarterback Vince Young, said a Houston judge could rule to uphold a restraining order filed to prevent further assessment of Young's assets.
"Judge Matthews has the ball," Dolezal told The Sports Xchange by phone Tuesday, referring to Harris County District Court Judge Sylvia Matthews in Houston. "There has been no order for an auction or collection of assets."
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FILE - This Aug. 2, 2010, file photo, shows the Procter & Gamble Co. headquarters building in Cincinnati. Procter & Gamble Co. reports quarterly earnings on Thursday, Aug. 1, 2013. (AP Photo/Al Behrman, File)
FILE - This Aug. 2, 2010, file photo, shows the Procter & Gamble Co. headquarters building in Cincinnati. Procter & Gamble Co. reports quarterly earnings on Thursday, Aug. 1, 2013. (AP Photo/Al Behrman, File)
CINCINNATI (AP) ? Procter & Gamble Co. said Thursday that its fiscal fourth-quarter net income dropped 48 percent due to a write-down related to its Braun Appliance business and other one-time costs.
But its adjusted results beat Wall Street expectations, and its shares edged up in premarket trading.
The world's largest consumer product company has been working on a turnaround effort aimed at focusing on its top 40 top businesses, 20 biggest new products and 10 most profitable emerging markets as it undergoes a cost cutting plan aimed at saving $10 billion by fiscal 2016.
The Cincinnati-based company replaced CEO Bob McDonald in May with former CEO A.G. Lafley in an effort to step up the turnaround efforts.
"We will continue to make choiceful investments in core brands, our biggest innovation opportunities, and in our core developed and most promising developing markets," Lafley said in a statement accompanying the results. He added the company will have an "overriding focus on value creation."
P&G, whose brands include Tide detergent and Crest toothpaste said after paying preferred dividends net income totaled $1.88 billion, or 64 cents per share, for the three months ended June 30. That's down from $3.63 billion, or $1.24 per share in the prior year quarter.
Excluding one-time items, adjusted earnings totaled 79 cents per share. That beat analyst expectations of 77 cents per share, according to FactSet.
One-time items included restructuring charges, legal fees in Europe and a 10 cents per share impairment charge related to its Braun Appliances business. That was due to the weakening of the Japanese yen, since a large part of Braun Appliances earnings are generated in Japan, the company said. The stronger dollar hurt results by 6 cents per share.
Revenue rose 2 percent to $20.66 billion, helped by volume growth and higher selling prices. Analysts expected revenue of $20.54 billion.
Volume rose 5 percent in total, with a 6 percent rise in fabric and home care and a 4 percent rise in beauty volume. Grooming, which includes razors and shaving cream, was flat.
For the year, net income after paying preferred dividends rose 5 percent to $11.31 billion, or $3.86 per share. That compares with net income of $10.76 billion, or $3.66 per share in the prior year.
Revenue rose 1 percent to $84.17 billion from $83.68 billion a year ago.
Looking ahead, the company expects earnings excluding one-time items to rise 5 percent to 7 percent, implying results of $4.25 to $4.33 per share.
It expects revenue to rise 1 percent to 2 percent, implying revenue of $85 billion to $85.85 billion.
Analysts expect earnings of $4.32 per share on slightly higher revenue of $86.47 billion.
P&G shares rose 62 cents to $80.92 in premarket trading.
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Source: http://in-the-news.net/pete-talks-about-fatherhood-family-tree-episode-4-preview-bbc-two/
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According to Jasper Police Chief, Jeff McGuire
22-year-old Joshua Armstead, of Statenville, GA , has been arrested for the armed robbery that happened at 3:25 last night at Suwannee River Credit Union in Jasper Florida. They arrested him around 5:30 as he was walking on County Road 751.
As of now, Armstead is still in custody at Hamilton County Jail. Police say he came in with a gun, took a clerk to the ground, hit her in the head and drug her to a back room.
Armstead is charged with armed robbery, kidnapping, grand theft and battery. They have not located the stolen money or the gun used.
Chief McGuire says more people could be involved and more arrests could come.
By: Garin Flowers
An attempted credit union robbery has authorities questioning one suspect, and looking for more.
It was a scary moment for employees at the Suwannee River Credit Union in Jasper Florida.
The Hamilton County Sheriff's Office tells us multiple suspects charged the credit union and robbed it. An employee at a restaurant a few doors down says the incident happened around 4 or 4:30 p.m.
According to the sheriff's office, a clerk at the credit union was battered by one of the suspects and sustained injuries, but we don't know the extent of those injuries. We're told no gunshots were fired.
One suspect is in custody and being questioned; we're told there's at least one more suspect on the loose. We don't have a description at this time. As we continue to find out more information we will certainly bring that to you.
Source: http://www.wctv.tv/home/headlines/Credit-Union-Clerk-Battered-In-Jasper-Robbery-217762411.html
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July 31, 2013 at 5:23 PM ET
A tactic to avoid corporate taxes has U.S. companies on the move?merging with foreign firms and then setting up residence overseas.
On Monday, Michigan-based medicine manufacturer Perrigo agreed to buy the Irish drug company Elan for $8.6 billion. In the bargain, the combined company's headquarters will be in Ireland, which has a corporate tax rate of 12.5 percent, versus 35 percent in the U.S.
Just the day before, American advertising giant Omnicom Group announced plans for a $35 billion merger with France's Publicis Groupe, saying that the combined company's tax residence will be in the Netherlands, which has a 25 percent corporate tax rate.
(Read more: 3 mergers Cramer says investors shouldn't miss)
Analysts say such mergers are likely to continue.
"Without tax reform in the U.S., I think you will see more of these types of deals," said Ian Shane, a tax lawyer at Golenbock Eiseman Assor Bell & Peskoe.
"You have to start from the premise that most tax laws are a decade behind how business is done," he said. "More companies are global and looking globally, and taxes are part of the bottom line."
Calls to Omnicom from CNBC to discuss the tax issue in detail with were not immediately returned. A spokesman for Perrigo refused to speak on the record for this story.
In a conference call for reporters after Perrigo's announcement, however, Chief Financial Officer Nigel Cherkin acknowledged that being in Ireland would provide the company with more than $2 billion in tax deductions.
And Omnicom's CEO John Wren confirmed in a conference call after his firm's merger announcement that residence in the Netherlands was for tax purposes.
Michael Schwartz, director of accounting and taxes at the advisory firm WeiserMazars, said, "There is a tax on U.S. firms bringing profits from overseas, but if you're incorporated abroad, [the United States] can't tax it if you've merged with another company."
These recent mergers fly in the face of heavy criticism from those who say U.S.corporations don't pay their fair share of taxes in the first place and that loopholes allow most of them to avoid paying the full 35 percent rate.
In a Senate subcommittee hearing this past May, Apple was severely chastised for avoiding tens of billions of dollars in U.S. taxes on its income (all legally) by shifting the funds through a global web of offshore entities, including three that had no tax residency in any nation.
A report from the committee before the hearings said that those three entities were run by some of Apple's top executives but were located, on paper, in Ireland, though they in some cases had no employees.
(Read more:Experts predict long antitrust road for Omnicom, Publicis)
One entity reported $30 billion in net income for 2009-12, yet filed no corporate tax return and paid no income taxes to any government during those years, according to the report.
CEO Tim Cook defended Apple at the time saying, "We pay all the taxes we owe?every single dollar." He also insisted that the company doesn't rely on tax "gimmicks" and doesn't "stash money on some Caribbean island."
But it isn't necessary for U.S. firms to stash away money or rely on gimmicks in today's global economy, according to Shane, the tax lawyer.
"Countries in Europe and elsewhere are competing with each other with lower tax rates to bring in firms and have them headquartered there," Shane said. "They need revenues, but lower tax rates that bring in firms are much better than higher tax rates and not having anyone there," he added.
"Just look at the Netherlands," Shane said. "Firms headquartered there don't have to face rigid tax rules.They can apply for a ruling on the amount they want to pay and get it approved or not, just as long as they pay some taxes."
But a study released in December on U.S. corporate taxes stated that new companies are not avoiding the country in favor of tax havens. Among 918 new companies identified as multinationals with headquarters in the United States, just 27 were legally incorporated in tax havens.
"I think we can fine-tune our laws, but I don't see them as all that complicated," said Schwartz at WeiserMazars.
"Businesses don't all think alike when it comes to what they want when it comes to taxes. I actually think other countries will start to lean toward our model going forward," he said.
U.S. firms first pay income taxes to the countries in which profits were earned; the then pay additional U.S. taxes on any profits they bring home.
But since companies receive a tax credit for paying a foreign tax, the amount of tax they pay on foreign profits in the U.S. is equal to the difference between the U.S. rate and the foreign one. (For instance, a $100 profit in England at that country's 23 percent tax rate would come to $23 in those taxes. The amount paid to the U.S. on that $100 would total $12?the difference between 35 and 23.)
In a speech Tuesday, President Barack Obama said he wants to cut the corporate tax rate of 35 percent to 28 percent and give manufacturers a preferred rate of 25 percent. He also wants a minimum tax on foreign earnings as a tool against corporate tax avoidance and increased use of tax havens.
(Read more: Obama proposes 'grand bargain' on corporate tax rate, infrastructure)
But he tied the reform and the money generated by the tax overhaul to a mix of proposals such as funding for infrastructure projects and improving education at community colleges.
Congressional Republicans immediately condemned the plan, saying it further backs Obama's policies on taxes and spending "while leaving small businesses and American families behind." The GOP prefers a flat tax on corporate profits.
"They talk tax reform, but it's not going to happen," Shane said. "There's too much gridlock."
"In the meantime, U.S. firms will continue to explore other countries for what they think are better tax laws," he said.
? 2013 CNBC LLC. All Rights Reserved
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