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Audi Boss Arrested Over Diesel Scandal

There was a danger that Rupert Stadler could seek to suppress evidence, prosecutors say.
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Tim Cook Is Trying To Get Trump To Back Off His Trade Battle With China

President Donald Trump will welcome Apple CEO Tim Cook to the White House on Wednesday for a one-on-one meeting. At the top of the agenda: recently proposed tariffs on imports of Chinese goods.

"Looking forward to my meeting with Tim Cook of Apple," Trump tweeted Wednesday. "We will be talking about many things, including how the U.S. has been treated unfairly for many years, by many countries, on trade."

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Hanky Panky, Made In The U.S.A. Since 1977


      This success story is about two women who started with a small business that became a bigger business, which continues to operate right here in the USA. Their story might fit into the category of women's voices, but since it is about their company - a business built from the partnership of two women with imagination, inventiveness, ability, risk, and perseverance - I have put it into the business category.

      Their story is about them and their underwear company that has become well known for making colorful thongs. They are now so successful that their company has recently implemented an employee ownership structure.

      The entire article, along with some nice visuals via photography, is well worth reading, but due to length I am offering some excerpts.

      Lida Orzeck, left, and Gale Epstein, the founders of Hanky Panky. CreditCaroline Tompkins for The New York Times

      The Thong That Changed Everything

      By Valeriya Safronova

      April 18, 2018

      Before converting a set of handkerchiefs into a bra and panties that began a 40-year career for her and her best friend, Gale Epstein dabbled in many varieties of D.I.Y.Ms. Epstein’s designs have certainly proven popular.

      The thong she created for Hanky Panky in 1986, known simply as 4811 and priced at about $20, is still a top-selling item for the company, which counts Rihanna, Beyoncé, Angelina Jolie, Cameron Diaz, Emma Watson, Eva Longoria, Kim Kardashian West and many others as customers.

      Thongs, which Hanky Panky produces in a rainbow of hues and several styles, make up more than half of the company’s $50-million business. The other half is made up of different types of stretchy, form-fitting bottoms and lacy, colorful bras.

      Underwear at Hanky Panky's showroom on Park Avenue in Manhattan.CreditCaroline Tompkins for The New York Times

      The company’s products have all been made in the United States — primarily in the New York area— since its founding, a considerable feat given that the number of manufacturing jobs in the city has been declining since the 1950s and significantly dropped after 9/11 as one apparel company after another has moved production overseas.

      In October, Hanky Panky’s employees — a significant portion of whom work at a 90,000-square-foot multiuse warehouse in Queens — discovered that they would soon be part owners of the company. At a party celebrating Hanky Panky’s 40th birthday, Ms. Epstein and Ms. Orzeck announced that the company had established an employee stock ownership plan, which transfers the ownership of the company over to a trust for the benefit of its workers.

      An ESOP is similar to a 401(k) but does not require employee contributions. The right to shares will be earned after six years of working continuously full-time. When employees leave the company, they retain their vested ownership until attaining full retirement age, and upon retirement they can redeem their shares. “Gale and I are still in charge,” Ms. Orzeck said. “But we no longer wholly own the company.”
      Employees, including those who work at Hanky Panky's warehouse in Queens, recently found out that they would soon be part owners of the company. CreditCaroline Tompkins for The New York Times

      In recent years, Ms. Epstein and Ms. Orzeck have scaled back their involvement in the company. “I’m not in the weeds the way I was the first 25 years,” Ms. Orzeck said. Why shouldn’t they take it a little bit easier after turning the thong into a classic cut, one that remains a staple in many drawers (despite what the millennials may have you believe)?

      But despite handing over some of their ownership, they have no plans to leave. “Why would I retire?” Ms. Orzeck said. “This is still our baby.”


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      Pundit Post

      A Complete List Of Donald Trump’s Business Disasters


          [Bad Business]

          We've talked about Trumps supposed business acumen many times before but I can't recall seeing such a thorough listing of his failures as the one included here. Though it is two years old it is worth a glance. It is good head shaking material. Me thinks he needs to stick to hotels and resorts --which basically operate themselves. He fails miserably at everything else.

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          Why Would The Trump Administration Go After Workers' Tips?


              "The idea is called “tip pooling,” which may sound harmless, but the Trump administration’s approach to the policy would be dangerous for millions of working-class Americans.

              "Last year, the Trump administration unveiled a proposal to undo Obama-era safeguards, which required employers who pooled tips and gratuities to distribute them back to waitstaff. Under the new plan, employers could “use workers’ tips for essentially any purpose, as long as the workers were directly paid at least the federal minimum wage of $7.25 an hour.”

              "Among the possible outcomes: employers could legally put some of the pooled tips in their own pocket. The Economic Policy Institute estimated that workers would stand to lose roughly $5.8 billion a year.

              "And as it turns out, the Republican administration came to a similar conclusion. Trump’s Department of Labor prepared a study on the possible consequences of the plan, and researchers found significant losses for workers. According to a Bloomberg Law report last month, Labor Secretary Alexander Acosta and his team were “uncomfortable” with the findings, so they “removed” the data they didn’t like.

              "Yesterday, the story got a little worse.

              Labor Department leadership convinced OMB Director Mick Mulvaney to overrule the White House regulatory affairs chief and release a controversial tip-sharing rule without data showing it could allow businesses to skim $640 million in gratuities.
              Mulvaney sided with Labor Secretary Alexander Acosta over the government’s rulemaking clearinghouse – a little-known but critical wing of the White House called the Office of Information and Regulatory Affairs – three current and former executive branch officials told Bloomberg Law. That allowed the department to delete from the proposal internal estimates showing businesses could take hundreds of millions in gratuities from their workers.

              "So to review, Team Trump unveiled a plan to screw over waitstaff workers. The administration then did a study, didn’t like the results, and edited the report to take out the embarrassing parts. Those officials then went to the White House’s far-right budget director, who endorsed hiding the data on the administration’s plan.

              "No, seriously, that’s what happened."


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              Trump Takes Aim At $50 Bn In Chinese Imports


                  'President Donald Trump will impose tariffs on at least $50 billion in Chinese goods imports to retaliate against the alleged theft of American intellectual property, White House officials said Thursday.

                  'Saying it would be the "first of many" trade actions, Trump signed the order that also will look at restrictions on Chinese investment in the US.

                  '"We have a tremendous intellectual property theft situation going on," Trump said.

                  'The new import duties will target industrial sectors where "China has sought to acquire an advantage through the unfair acquisition or forced technology transfer from US companies," senior White House economic advisor Everett Eissenstat told reporters.

                  'The products subject to the new tariffs have not yet been identified.

                  'But the move sent stocks diving on Wall Street, where the Dow Jones Industrial Average was down about two percent ahead of the announcement, and ratcheted up Trump's confrontational stance with trading partners.

                  'Trump will direct US Trade Representative Robert Lighthizer to identify publish a proposed list of products that could be subject to tariffs.

                  'He will also direct Lighthizer to take action against China at the World Trade Organization, charging Beijing with preventing US companies from licensing their technology in China.

                  'The measure also directs the US Treasury to develop new proposals to increase safeguards on investments that could compromise US national security.

                  'White House officials said Thursday the actions capped years of efforts to encourage China to end the alleged unfair practices through negotiations.

                  '"Those dialogues failed under the Bush and Obama administrations," White House Trade Advisor Peter Navarro told reporters.'


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