Cub Reporter's Debut

Cub Reporter's Debut - posted today on Justmeans - is a genuine report on a CSR Forum sponsored by the Better Business Bureau- wrapped in a good old As Good As News style fun post. Enjoy.

Gatekeepers - Plus IMF, Plus Manuscript

Latest post on Sustainable Finance external blog deals with Gatekeepers (accountants, lawyers, etc.) deterring securities fraud by their clients. Based on a law review article, but it's actually a fun piece. Lately I have been lightening up and making the Justmean's columns a little more like good old As Good As News. If you don't believe me visit Justmeans Editorial (link in column on right) for my latest song parody - Mother Earth is Makin Her Last Stand (to the tune of Sgt. Pepper's Lonely Hearts Club Band), while you are there check out all the Justmeans Earth Day specials.

While we are on Earth Day (and for those upset about the snarky posty on Bob Zoellick), IFC is now selling it's first green bond, proceeds to be held in a segregated fund awaiting investment in green projects. Posts at Justmeans include some "nice" observations on IMF. IMF now has an interim report out on bailout and financial reform (previewed as "global tax" in Justmeans). Look for coverage on the interim report sometime in next two weeks.

Manuscript at The Theater Project in Cranford, NJ is another success. Artistic Director Mark Spina consistently finds off Broadway material that is just right for adaptation to the Theater Project space and budget. Manuscript is funny, suspenseful and surprising. The cast has a minor stumble or two and the show is not Spina's absolute best, but still much fun and well worth seeing.

I Told You So..

New column in Sustainable Finance today, "Plugging into Mother Earth" also plugging for MIT and feeling a little better about prospects for the developing world.

NY Times is really going after the unpaid internship story, with two news items last week, neither of which had any real news to report. Sustainable Finance ran its first column on Feb 5, revisits the story today - (not posted yet, visit Justmeans.com, then from menu select Editorial and then Sustainable Finance) mostly to note that the only new news so far is the Time's interest.

Steelers trade Santonio Holmes to Jets for a stinking FIFTH ROUND PICK. Here's what As Good As News said in a post titled "Strange Odors" in early February 2009 when Santonio was the hero of the Steeler Superbowl win over the Cards:

What to do? Trade Santonio now. He will never be more valuable. There's a
wealthy team in the Meadowlands that needs a replacement at wide receiver. See,
it's always about New Jersey after all.

Intel Sustainability Charter

Latest Sustainable Finance post.

I forgot

When I started writing for Justmeans I included a link here, but I forgot to mention that one post a week goes to Sustainable Finance, a separate blog.

My latest post on Sustainable Finance is AAAAAAAARGH! Pirate Finance Model a little too successful.

An early favorite was posted February 5 - Unpaid Interns, the New Sweatshop - the NY Times started to get interested in this topic on Saturday, Apr. 3.

Justmeans transfer and Mystery of the Missing Pissarros

No posts lately as I have been travelling (ski trip, Columbus visit for my brother's birthday and St. Thomas trip for my wedding anniversary). Now I'm working on editorial posts for Justmeans which means posts here will be few and far between for some time. First Justmeans publication is scheduled for Feb. 1. I'm writing on sustainable finance, a broad area encompassing a surprising number of opportunities for humor. Don't hesitate to communicate, here or through Justmeans, if you want to suggest a topic for a column.

If you visit St. Thomas stop at Government House in Charlotte Amalie. If you are lucky (like we were) the guard will give you a thorough tour of the lobby, including two small oils by Camille Pissarro. Then visit the house Pissarro grew up in, just a few blocks away. It now houses an art gallery on the top floor, including some Pissarro sketches, no oils. Talk to the proprietor, who will offer some very interesting speculation on what happened to the other two Pissarro's in Government House -there used to be four altogether, all donated by Pissarro's family for the benefit of the people on the island. If you have any information on the missing Pissarro oils, please comment here.

Die Now for Once in a Lifetime Estate Tax Savings? Congress Creates a Quagmire.

Summary -A Congressional showdown has produced an estate tax rate of zero, for the moment, with the future of the estate tax still up for grabs. The resulting uncertainty will hamper the efforts of charitable, educational and social organizations seeking major gifts and bequests from major donors.

Thanks to an unusual piece of Bush era tax legislation, the Federal Estate Tax rate, which has been decreasing for several years, is now zero for 2010. No matter how excited you are about this once in a lifetime (literally) estate tax planning opportunity, try not to die, at least until you have finished this post. If Congress does nothing, the estate tax will be back with a vengeance in 2011, when the Bush legislation expires and the higher taxes of the Clinton era come back to life (the dreaded Zombie Effect).

The House has already passed a bill extending the 2009 estate tax for 2010 (top rate 45% with first $3.5 million of each estate excluded from tax). The Senate is likely to consider adoption of the same approach, retroactive to January 1. Pro-estate tax forces in Congress have generally shown some willingness to compromise on rates and exclusions in order to get a tax in place for 2010. Opponents, who would like to repeal the "death tax" permanently, might be happy with the zero rate now, but even they want to get something done before 2011, when the Zombie Effect would produce a 55% top rate, with an exclusion of $1 million and new exposure of estate assets to capital gains tax. For now, some of the estate tax foes are playing hardball, confident that the Zombie Effect is not a serious threat, because it will be unpalatable to nearly everyone.

Why should you care about any of this if you are not wealthy, not planning to die within the next few years and not really into zombies? Estate tax planning drives a significant component of charitable giving. If your favorite school, environmental organization, or social justice institution hasn't already asked you to make a lifetime bequest of capital while reserving lifetime income under an annuity arrangement, it will someday. If you are rich enough and old enough to think about making this kind of gift, then you will want to understand the estate tax consequences. If the estate tax is up in the air, the estate tax consequences are unknowable. The result: worthy causes seeking major gifts and bequests will be hearing an awful lot of, "Let me get back to you once I know what's happening with estate taxes." Sustainable financing for even the most basic operations of some organizations could be jeopardized.

Today is not a good day to die, even for the estate planning fanatic. Today is a good day for Congress to produce serious estate tax legislation for 2010 and beyond. Don't let a showdown over the Zombie Effect bring charitable giving to its knees.