GOP Blocks Obama ‘Jobs Bill’

Senate Republicans on Thursday blocked the No.1 item on the president’s congressional “to-do-list,” refusing to allow a vote on a bill that would give tax breaks for companies that “insource” jobs to the U.S. from overseas while eliminating tax deductions for companies that move jobs abroad.

In voting against the bill, Republicans raised both substantive and procedural problems with the measure. With job creation the top issue this campaign season, and outsourcing being blamed as a big contributor to the high unemployment rate, Democrats saw the bill as an election-year winner. Sponsored by Sen. Debbie Stabenow, D-Michigan, who is running for reelection, the bill made it to the top of the “to-do list” for Congress President Barack Obama unveiled earlier this year.

The Bring Jobs Home Act would provide a 20% tax break for the costs of moving jobs back to the United States and would rescind business expense deductions available to companies that are associated with the cost of moving operations overseas.

In a letter to senators this week, the Chamber of Commerce called the bill “misguided” and said it “would hamper American worldwide companies’ competitiveness, increase complexity in the Internal Revenue Code, and threaten economic growth.” The Chamber said it would count how senators voted on this motion in their annual “How they Voted” scorecard.

Are you for or against the Bring Jobs Home Act? Would this bill have been beneficial or detrimental to the American economy? To the world? Feel free to voice out your opinions about this issue in the comment box below!

Source: CNN

Image: Ology

Apple named top brand in 2010

10 May 2011 Last updated at 01:55 GMT

Since the launch of the iPad last year, Apple has gained enough momentum and sales to overtake rival company Google to become the world’s most valuable brand. According to a survey made earlier this week, the US technology company led by Steve jobs topped the list of the 100 most valuable global brands in 2010.

The survey was conducted by research company Millward Brown, owned by the WPP. Its annual list, Brandz, lists the top 100 companies around the world. According to its recent survey, Apple went up from its 3rd place ranking in 2009 to the very top of the list in 2010. With successful releases of gadgets such as the iPad, Apple increased 84% in value to $153 billion. This will be the first time in four years the Google Company will not be on top of the Brandz list.

“It is really the iPad that has driven (Apple’s growing brand value), although the iPhone has continued to do magnificently too, and the development of apps,” said Peter Walshe, the global director of the Brandz list. Despite the public medical leave of Apple’s front man and chief officer Steve Jobs, they still managed a very successful year with their sales and revenue. Hostgator .

The Millward Brown report focuses on brand power in terms of financial performance and global market value. According to Walshe, the report also analyzed factors such as desirability and presence in popular trends. Apple was present in the top 10 in the world in terms of desirability and is mentioned constantly in blogs, tweets and social networking websites. This placed Apple 4th in desirability, just behind Google, Facebook and Microsoft.

Social Networking website, Facebook, made it to the list for the first time. It was valued at around $70 billion and was ranked at number 35 on the list. Facebook had a breakout year with an increase of over 246% from an estimated brand value of $5.5 billion to over $19 billion. But according to the report, time will tell if the company will be able to retain its value.

Third on the list was computer company IBM with a value of just over $100 billion, followed by fast food giant McDonalds with a value of $81 billion. Fifth on the list is Bill Gates’ Microsoft Company with a value of $78 billion and 6th on the list was Coca Cola with a global value of $73 billion. Rounding the top ten are telecommunications company AT&T with $70 billion, Marlboro at $67 billion, China Mobile at $57billion and GE with $50 billion. Phone Power .