Friday, 3 March 2017
Photos: Man caught having sex with cow
Gay man inherits $25m after father dies, uncle challenges him because of his sexuality
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8 years ago! Kim Kardashian shares throwback photo of herself and Kanye West
Thursday, 2 March 2017
U.S. authorities raid Caterpillar's Illinois facilities
CHICAGO (Reuters) - Federal law enforcement officials conducting a
criminal probe of heavy machinery manufacturer Caterpillar Inc searched
three of its facilities on Thursday, prompting a sharp sell-off in the
company's stock.
A spokeswoman for the U.S. Attorney Office for the Central District of Illinois, Sharon Paul, confirmed that federal law enforcement officials conducted searches at locations in Peoria, East Peoria and Morton, Illinois, but did not say why agents raided the three facilities.
Caterpillar, in a statement issued on Thursday afternoon, said it believed the search was part of an Internal Revenue Service investigation related to profits earned by a Swiss parts subsidiary, Caterpillar SARL, or CSARL.
It said that "while the warrant is broadly drafted, we believe the execution of this search warrant is regarding, among other things, export filings that relate to the CSARL matter first disclosed in Caterpillar's Form 10-K filed on February 17, 2015, and updated in Caterpillar's most recent Form 10-K filed with the SEC on February 15, 2017."
Agencies involved in the search included the IRS' Criminal Investigation Division, the U.S. Department of Commerce's Bureau of Industry and Security's Office of Export Enforcement, and the Federal Deposit Insurance Corp.'s Office of Inspector General, Paul said.
Officials at the agencies could not be reached for comment.
Caterpillar shares fell 4.3 percent to close at $94.36 on the New York Stock Exchange after trading as low as $92.84.
IRS SEEKS $2 BLN; CATERPILLAR CONTESTS
The apparent escalation of the government's tax dispute with Caterpillar comes as the Trump administration and leaders in Congress have said they want to launch a broad overhaul of the corporate tax code, lowering rates and designing the system to encourage companies to keep jobs and profits within the United States.
Caterpillar has also had a prominent place in the Trump administration's effort to promote U.S. manufacturing. The company's outgoing chief executive, Douglas Oberhelman, met with President Donald Trump at the White House last week.
Caterpillar is fighting an Internal Revenue Service demand that the company pay $2 billion in taxes and penalties for profits assigned to its Swiss parts distribution subsidiary, according to filings with the Securities and Exchange Commission. That subsidiary was also the subject of a 2014 Senate committee report that concluded Caterpillar shifted billions in profits abroad and had $2.4 billion in taxes deferred or avoided from 2012.
A spokeswoman for the U.S. Attorney Office for the Central District of Illinois, Sharon Paul, confirmed that federal law enforcement officials conducted searches at locations in Peoria, East Peoria and Morton, Illinois, but did not say why agents raided the three facilities.
Caterpillar, in a statement issued on Thursday afternoon, said it believed the search was part of an Internal Revenue Service investigation related to profits earned by a Swiss parts subsidiary, Caterpillar SARL, or CSARL.
It said that "while the warrant is broadly drafted, we believe the execution of this search warrant is regarding, among other things, export filings that relate to the CSARL matter first disclosed in Caterpillar's Form 10-K filed on February 17, 2015, and updated in Caterpillar's most recent Form 10-K filed with the SEC on February 15, 2017."
Agencies involved in the search included the IRS' Criminal Investigation Division, the U.S. Department of Commerce's Bureau of Industry and Security's Office of Export Enforcement, and the Federal Deposit Insurance Corp.'s Office of Inspector General, Paul said.
Officials at the agencies could not be reached for comment.
Caterpillar shares fell 4.3 percent to close at $94.36 on the New York Stock Exchange after trading as low as $92.84.
IRS SEEKS $2 BLN; CATERPILLAR CONTESTS
The apparent escalation of the government's tax dispute with Caterpillar comes as the Trump administration and leaders in Congress have said they want to launch a broad overhaul of the corporate tax code, lowering rates and designing the system to encourage companies to keep jobs and profits within the United States.
Caterpillar has also had a prominent place in the Trump administration's effort to promote U.S. manufacturing. The company's outgoing chief executive, Douglas Oberhelman, met with President Donald Trump at the White House last week.
Caterpillar is fighting an Internal Revenue Service demand that the company pay $2 billion in taxes and penalties for profits assigned to its Swiss parts distribution subsidiary, according to filings with the Securities and Exchange Commission. That subsidiary was also the subject of a 2014 Senate committee report that concluded Caterpillar shifted billions in profits abroad and had $2.4 billion in taxes deferred or avoided from 2012.
"As a result of those licensing and servicing agreements,
over the next thirteen years from 2000 to 2012, Caterpillar shifted to CSARL in Switzerland taxable income from its non-U.S. parts sales totaling more than $8 billion, and deferred or
avoided paying U.S. taxes totaling about $2.4 billion," the report said.
It said the arrangement resulted in Caterpillar paying an effective tax rate of only 4 percent to 6 percent.
Caterpillar, in its 2016 annual report, said it is "vigorously contesting" the IRS demand. "We believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines," it stated.
The Senate committee report also criticized Caterpillar's accountants, PwC, saying that the firm's roles as auditor and tax consultant represented a conflict of interest. PwC on Thursday said it had no comment.
In testimony before the Senate in 2014, PwC partner Thomas Quinn said the firm believed that its "tax advice and Caterpillar’s tax positions were correct under applicable tax laws. In sum, PwC’s provision of tax services to Caterpillar as our audit client was entirely appropriate."
Caterpillar also disclosed in its annual report that it had received grand jury subpoenas from the U.S. District Court for the Central District of Illinois seeking documents and information related to the movement of cash among U.S. and non-U.S. subsidiaries, and the purchase and resale of replacement parts by Caterpillar Inc. and non-U.S. Caterpillar subsidiaries, including Caterpillar SARL. Caterpillar said it is cooperating with the investigation and did not believe it would have a material impact on its finances.
PARTS BUSINESS; TAXES
The facility in Morton, according to the company’s website, is responsible for receiving and shipping replacement parts to parts facilities and Caterpillar dealers worldwide.
Caterpillar reported sales fell 18 percent in 2016 to $38.5 billion and since late 2015 it has shrunk its workforce by more than 16,000 employees and consolidated or closed 30 facilities. Caterpillar cut 12,300 jobs in 2016, including 7,700 in the United States.
It said it was considering closing two more major production facilities, including one in Aurora, Illinois, and also announced it was moving its corporate headquarters from Peoria to Chicago this year.
Last week in Missouri, U.S. Vice President Mike Pence toured Fabick CAT, a family-owned company that is one of the largest U.S. distributors of Caterpillar equipment. "You are the strength in the American economy, and you're going to lead an American comeback," he told workers there.
Pence said the Trump administration wants to simplify the U.S. tax code. "I'll guarantee there isn't anyone here who can make sense of America's tax code, including me. There's an old joke that says the tax code is about 10 times the size of the Bible but with none of the good news," he said.
"Our country's tax system these days penalizes success. It makes it far too hard for hardworking people and small businesses to achieve the American Dream."
over the next thirteen years from 2000 to 2012, Caterpillar shifted to CSARL in Switzerland taxable income from its non-U.S. parts sales totaling more than $8 billion, and deferred or
avoided paying U.S. taxes totaling about $2.4 billion," the report said.
It said the arrangement resulted in Caterpillar paying an effective tax rate of only 4 percent to 6 percent.
Caterpillar, in its 2016 annual report, said it is "vigorously contesting" the IRS demand. "We believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines," it stated.
The Senate committee report also criticized Caterpillar's accountants, PwC, saying that the firm's roles as auditor and tax consultant represented a conflict of interest. PwC on Thursday said it had no comment.
In testimony before the Senate in 2014, PwC partner Thomas Quinn said the firm believed that its "tax advice and Caterpillar’s tax positions were correct under applicable tax laws. In sum, PwC’s provision of tax services to Caterpillar as our audit client was entirely appropriate."
Caterpillar also disclosed in its annual report that it had received grand jury subpoenas from the U.S. District Court for the Central District of Illinois seeking documents and information related to the movement of cash among U.S. and non-U.S. subsidiaries, and the purchase and resale of replacement parts by Caterpillar Inc. and non-U.S. Caterpillar subsidiaries, including Caterpillar SARL. Caterpillar said it is cooperating with the investigation and did not believe it would have a material impact on its finances.
PARTS BUSINESS; TAXES
The facility in Morton, according to the company’s website, is responsible for receiving and shipping replacement parts to parts facilities and Caterpillar dealers worldwide.
Caterpillar reported sales fell 18 percent in 2016 to $38.5 billion and since late 2015 it has shrunk its workforce by more than 16,000 employees and consolidated or closed 30 facilities. Caterpillar cut 12,300 jobs in 2016, including 7,700 in the United States.
It said it was considering closing two more major production facilities, including one in Aurora, Illinois, and also announced it was moving its corporate headquarters from Peoria to Chicago this year.
Last week in Missouri, U.S. Vice President Mike Pence toured Fabick CAT, a family-owned company that is one of the largest U.S. distributors of Caterpillar equipment. "You are the strength in the American economy, and you're going to lead an American comeback," he told workers there.
Pence said the Trump administration wants to simplify the U.S. tax code. "I'll guarantee there isn't anyone here who can make sense of America's tax code, including me. There's an old joke that says the tax code is about 10 times the size of the Bible but with none of the good news," he said.
"Our country's tax system these days penalizes success. It makes it far too hard for hardworking people and small businesses to achieve the American Dream."
(Reporting by Timothy Mclaughlin, PJ Huffstutter and Tracy Rucinski in
Chicago, David Shepardson in Washington and Joe White in Detroit,
writing by Daniel Grebler; editing by Diane Craft)
Modern-day slavery: The repulsive reality of human trafficking
imagine
a scenario like this: Claudia is a 15-year-old from Southern Mexico who
fled her village where her alcoholic father and bipolar mother beat her
on a regular basis. She gathered what little money she had saved to
take a bus to Mexico City. The day she arrived she was approached by a
handsome young man who befriended her and gave her a place to stay. But
he got her hooked on drugs and passed her on to his boss, a
well-established pimp. She is a victim of human trafficking.
Adorable Baby With Full Head of Hair Will Make You Smile
Please welcome the newest celebrity hairstylist, new mother Angie Dunn of Idaho. Her client? Baby Oliver, who’s landed in the news for just how much hair he has at only five-months-old.
Oliver had so much hair, in fact, that doctors could spot it on the ultrasound before he was born. Even so, Dunn is surprised at how long and how quickly her baby’s hair has grown. It’s now five inches long (making it the perfect length for one of those trendy
“When he came out the doctor was like ‘wow, he has a lot of hair,’ and all of the nurses, everybody was like ‘look at the hair, look at the hair!'”, Dunn told local news channel KVTB.
“The first thing is always like his hair, ‘oh my gosh that hair’ everybody always says, whenever we go anywhere,” Dunn says. Well-wishers can’t seem to stop themselves from becoming fans of Oliver’s hair, she says, with plenty of questions for her about his luscious locks: “Can I touch it? How old is he? Oh my gosh that hair. Do you and your husband have hair like that? What do you do to it? Do you blow dry it?”
Dunn says he’s still too young for her to be worrying about blowouts, but she does try to keep the hair neat with a “little brush.” (Again, future stylist alert.)
There’s one milestone she’s not looking forward to: Oliver’s first haircut. “Eventually he’s going to have to have it cut, I just don’t know when – I mean I can’t bring myself to do it,” she says. “Most people wait until their babies are a year old, but I just don’t think he can wait that long.” Sounds like someone may end up rocking baby’s first manbun.
Oliver had so much hair, in fact, that doctors could spot it on the ultrasound before he was born. Even so, Dunn is surprised at how long and how quickly her baby’s hair has grown. It’s now five inches long (making it the perfect length for one of those trendy
“When he came out the doctor was like ‘wow, he has a lot of hair,’ and all of the nurses, everybody was like ‘look at the hair, look at the hair!'”, Dunn told local news channel KVTB.
“The first thing is always like his hair, ‘oh my gosh that hair’ everybody always says, whenever we go anywhere,” Dunn says. Well-wishers can’t seem to stop themselves from becoming fans of Oliver’s hair, she says, with plenty of questions for her about his luscious locks: “Can I touch it? How old is he? Oh my gosh that hair. Do you and your husband have hair like that? What do you do to it? Do you blow dry it?”
Dunn says he’s still too young for her to be worrying about blowouts, but she does try to keep the hair neat with a “little brush.” (Again, future stylist alert.)
There’s one milestone she’s not looking forward to: Oliver’s first haircut. “Eventually he’s going to have to have it cut, I just don’t know when – I mean I can’t bring myself to do it,” she says. “Most people wait until their babies are a year old, but I just don’t think he can wait that long.” Sounds like someone may end up rocking baby’s first manbun.
RAND PAUL: The GOP is keeping its 'Obamacare lite' bill 'under lock & key' in a basement
Sen. Rand Paul on Thursday suggested he was getting tired of the
House Republican process for repealing and replacing the Affordable Care
Act, the healthcare law better known as Obamacare.
In a series of tweets, the Republican senator from Kentucky said the House GOP had hidden its plan from other lawmakers and the public. He said the secretive nature was "unacceptable."
"I have been told that the House Obamacare bill is under lock & key, in a secure location, & not available for me or the public to view," Paul tweeted. "This is unacceptable. This is the biggest issue before Congress and the American people right now."
House GOP leadership has begun to develop a plan, a draft of which leaked Friday, but reports have indicated that many lawmakers have not been privy to the development.
Paul has introduced his own version of a replacement and has joined with other conservative senators, such as Ted Cruz of Texas and Mike Lee of Utah, in calling for a total repeal of the ACA.
Paul said the House plan did not go far enough in repeal.
"What is the House leadership trying to hide?" Paul said. "My guess is, they are trying to hide their 'Obamacare Lite' approach. Renaming and keeping parts of Obamacare, new entitlements and extending medicaid expansion are not the #FullRepeal we promised."
Some House conservatives, including members of the Freedom Caucus, have also come out in favor of a full repeal of the law rather than some form of compromise. The disagreement has led to a slowdown in the repeal-and-replace process.
Paul said he wanted the process from House leadership to be more transparent.
In a series of tweets, the Republican senator from Kentucky said the House GOP had hidden its plan from other lawmakers and the public. He said the secretive nature was "unacceptable."
"I have been told that the House Obamacare bill is under lock & key, in a secure location, & not available for me or the public to view," Paul tweeted. "This is unacceptable. This is the biggest issue before Congress and the American people right now."
House GOP leadership has begun to develop a plan, a draft of which leaked Friday, but reports have indicated that many lawmakers have not been privy to the development.
Paul has introduced his own version of a replacement and has joined with other conservative senators, such as Ted Cruz of Texas and Mike Lee of Utah, in calling for a total repeal of the ACA.
Paul said the House plan did not go far enough in repeal.
"What is the House leadership trying to hide?" Paul said. "My guess is, they are trying to hide their 'Obamacare Lite' approach. Renaming and keeping parts of Obamacare, new entitlements and extending medicaid expansion are not the #FullRepeal we promised."
Some House conservatives, including members of the Freedom Caucus, have also come out in favor of a full repeal of the law rather than some form of compromise. The disagreement has led to a slowdown in the repeal-and-replace process.
Paul said he wanted the process from House leadership to be more transparent.
"I call on them to make this process transparent and to let the sunshine in," Paul concluded. "Today."
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