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Conn. reaches deal on tough gun laws after Newtown

HARTFORD, Conn. (AP) ? Connecticut lawmakers announced a deal Monday on what they called some of the toughest gun laws in the country that were proposed after the December mass shooting in the state, including a ban on new high-capacity ammunition magazines like the ones used in the massacre that left 20 children and six educators dead.

The proposal includes new registration requirements for existing magazines that carry 10 or more bullets, something of a disappointment for some family members of Newtown victims who wanted an outright ban on the possession of all high-capacity magazines and traveled to the state Capitol on Monday to ask lawmakers for it.

The package also creates what lawmakers said is the nation's first statewide dangerous weapon offender registry, creates a new "ammunition eligibility certificate," imposes immediate universal background checks for all firearms sales, and extends the state's assault weapons ban to 100 new types of firearms and requires that a weapon have only one of several features in order to be banned.

The newly banned weapons could no longer be bought or sold in Connecticut, and those legally owned already would have to be registered with the state, just like the high-capacity magazines.

"No gun owner will lose their gun," said House Minority Leader Lawrence Cafero Jr., a Norwalk Republican. "No gun owner will lose their magazines."

The bill also addresses mental health and school security measures.

The shooting Dec. 14 at Sandy Hook Elementary School reignited the gun debate in the country and led to calls for increased gun control legislation on the federal and state levels. While some other states, including neighboring New York, have strengthened their gun laws, momentum has stalled in Congress, whose members were urged by President Barack Obama last week not to forget the shooting and to capitalize on the best chance in years to stem gun violence.

Connecticut should be seen as an example for lawmakers elsewhere, said Senate President Donald E. Williams Jr., a Brooklyn Democrat.

"In Connecticut, we've broken the mold," he said. "Democrats and Republicans were able to come to an agreement on a strong, comprehensive bill. That is a message that should resound in 49 other states and in Washington, D.C. And the message is: We can get it done here and they should get it done in their respective states and nationally in Congress."

The proposal was revealed to rank-and-file lawmakers Monday after weeks of bipartisan, closed-door negotiations among legislative leaders. A vote was expected Wednesday in the General Assembly, where Democrats control both chambers, making passage all but assured. The bill would then be sent to Gov. Dannel P. Malloy, who has helped lead efforts to strengthen the state's gun laws but has not yet signed off on the proposed legislation.

Earlier in the day on Monday, Malloy voiced support for the Newtown families and their desire to ban the possession of large-capacity magazines.

Ron Pinciaro, executive director of Connecticut Against Gun Violence, said his group will live with the lawmakers' decision not to ban them as other states have done. He said the leaders made their decision based on what was politically feasible.

"We have to be satisfied. There are still other things that we want, we'll be back for in later sessions," he said. "But for now, it's a good thing."

Robert Crook, executive director of the Connecticut Coalition of Sportsmen, contended the bill would not have changed what happened at Sandy Hook Elementary School, where the gunman fired off 154 shots with a Bushmaster .223-caliber rifle within five minutes. He went through six 30-round magazines, though half were not completely empty, and police said he had three other 30-round magazines in addition to one in the rifle.

"They can register magazines and do all the rest of this stuff. It isn't going to do anything," he said.

Gun owners, who've packed public hearings at the state Capitol in recent months, voicing their opposition to various gun control measures, are concerned they've been showing up "for virtually nothing" after learning about the bill, Crook said.

"Clearly we've made our point," Crook said. "But I don't know what anybody can do at this point in time."

Six relatives of Newtown victims visited the Capitol on Monday, asking lawmakers to ban existing high-capacity magazines. Some handed out cards with photographs of their slain children.

Allowing magazines that carry 10 or more bullets to remain in the hands of gun owners would leave a gaping loophole in the law, said Mark Barden, whose 7-year-old son, Daniel, was killed in the shooting.

"It doesn't prevent someone from going out of the state to purchase them and then bring them back. There's no way to track when they were purchased, so they can say, 'I had this before,'" Barden said. "So it's a big loophole."

Barden and other victims' family members who visited the statehouse earlier on Monday did not immediately respond to messages seeking their reactions to the agreement.

Jake McGuigan, a spokesman for the National Shooting Sports Foundation, which is based in Newtown, said he wouldn't comment on the proposal until he saw it in the writing, but he questioned the mechanics of a registry for magazines.

"How will they register a magazine? It seems a little weird," he said.

___

Associated Press writers Stephen Kalin, Stephen Singer and Michael Melia contributed to this report.

Source: http://news.yahoo.com/conn-reaches-deal-tough-gun-laws-newtown-221504941.html

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Insert Coin: LineCam is a high-flying cable car system for your camera

In Insert Coin, we look at an exciting new tech project that requires funding before it can hit production. If you'd like to pitch a project, please send us a tip with "Insert Coin" as the subject line.

Image

Father and son team Nick and Larry Braun want to build a portable zip line system for cameras. Problem is, predictably, design and manufacturing cost a lot of money. So, the two have turned to Kickstarter and are asking for a little help in getting their LineCam project off the ground. The duo are actually building two different models: the simple, gravity-powered Glide and the motorized Flow. Both are wheeled carts that attach to a cable and have mounts for various cameras, including standard tripod mounts for shuttling DSLRs through the air. The Glide is capable of using smaller gauge line and has a simpler rigging assembly, which helps keep cost and weight down. The remote controlled Flow, on the other hand, requires a much more robust setup.

The Flow is definitely the more interesting of the two products. Rather than simply riding the cable under the the influence of physics, it features an RF remote with speed control and the ability to run in reverse. And the 10,900mAh battery is charged in part by a regenerative breaking system packed into the shuttle. Having all this machined aluminum made here in the US isn't cheap however. The Glide platform alone (that includes none of the rigging or cabling) will require a pledge of $510. The Flow? A jaw dropping $4,535. And if you want all the necessary equipment to film your exploits from the air you'll have to offer support totally $5,600. Still, if you're serious about your photography and video, it might not seem like that absurd a price. Heck, the GoPro guys seem to like it. Check out the video pitch for the LineCam after the break.

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Via: GizMag

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Don't hoard excess business earnings - Business Management Daily

The TV show ?Hoarders? doesn?t portray the obsessions of business owners. But you might trigger tax problems if you can?t help stockpiling too much cash in the company?s cupboards.

Strategy: Do your best to avoid the ?accumulated earnings tax.? This little-publicized penalty tax will be tacked onto your regular corporate income tax bill if you don?t stay within the prescribed tax law limits.

However, the outlook isn?t as bleak as before. Until Congress passed the new American Tax??payer Relief Act (ATRA), the tax rate for the accumulated earnings tax was poised to practically triple in 2013 to 39.6%. But ATRA permanently installs a much-lower 20% rate.

Here?s the whole story: The accumulated earnings tax is intended to discourage excessive accumulations of funds within a company. It applies to ?accumulated taxable income,? which is defined as the company?s taxable income (with certain adjustments) minus the dividends-paid deduction and an accumulated tax credit. The minimum tax credit for this purpose is $250,000; $150,000 for personal service corporations.

Thus, if you can keep the cash in your company?s coffers below the $250,000/$150,000 mark for the year, you?re in the clear.

Otherwise, your corporation will be liable for the accumulated earnings tax. Previously, the tax rate was 15% in 2012, based on the preferential tax treatment for qualified dividends. However, because dividends were scheduled to be taxed at ordinary income rates in 2013, the applicable tax rate for the accumulated earnings tax would have been 39.6%. Since ATRA established a maximum 20% federal income rate on qualified dividends for 2013 and beyond, the accumulated earning tax rate is also now 20%.? ?

What?s more, if you exceed the minimum credit amount, there?s a fallback position: No penalty is imposed on amounts accumulated for a ?reasonable business need.? To qualify under this safe harbor rule, you must show that you have a definite plan in place for using the money in the applicable tax year (see box below).

5 steps to nail it down

Other factors may come into play. For instance, if you own a business in a volatile industry, you might have a better argument for accumulating cash than other businesses. Take these five steps to strengthen your case for accumulating more cash.

  1. Adopt a consistent dividend-paying ?policy.
  2. Obtain expert opinions to support anticipated replacement costs.
  3. Do the same for accumulations to safeguard against business hazards.
  4. Move expansion plans into the blueprint stage as soon as possible.
  5. Keep detailed records of valid business reasons for accumulating earnings in the corporate minutes. This is the best proof your company can have for justifying any excess amounts.

Tip: If it?s a close call, pay enough dividends to stay below the $250,000/$150,000 mark.

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Switched On: Higher stakes, higher ground for crowdfunding, part 2

Each week Ross Rubin contributes Switched On, a column about consumer technology.

DNP Switched On Higher stakes, higher ground for crowdfunding, part 2

Last week's Switched On discussed the issues around crowdfunding liability, offering examples of some recent tech projects that delivered late or inconsistently, and explaining the justification for sites such as Kickstarter and Indiegogo denying accountability. Given this, there are a few options in how consumers choose to engage with crowdfunding sites.

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/lQhJoTDRsWM/

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Jake Fischer: The Evolution of the Final Four

The 2013 NCAA Tournament may perhaps be one of the wildest in the event's 75 years of existence. We've all been witness to the No. 15 Seed Florida Gulf Coast Eagles' success and two No. 1 Seeds fail to reach the Elite 8. The majority of the basketball world has watched in awe as these dedicated and passionate student athletes fight for victory on either CBS, TNT, TBS or truTV. In fact, According to Nielsen numbers CBS Sports and Turner Sports' coverage of March Madness "averaged a 6.3/14 overnight rating/share, the highest rating for the opening week of the NCAA Tournament in 23 years, when the tournament expanded to its current format."

But, what about seeing the games in person?

If you've attended the first weekend of the NCAA Tournament in year's past or this season, you know the buzzing excitement that fills every crevice of each arena. It's not just the brand of exciting basketball that is being played just feet in front of your face, but it's the speed of the day and volume of the atmosphere that makes March Madness truly eclipse other sporting events.

When the Tournament debuted in 1939, the men's basketball championship game was held in Patten Gym, an arena in Evanston, Ill. that seated just 1,000 people. Over the years, as the tournament's hype and impact on American culture has grown, so has its championship game's attendance. Eventually, the tourney's championship game moved to venues like Freedom Hall and Madison Square Garden that can seat around 19,000 fans.

Today, the NCAA has recognized the tourney's energy and, in recent years, has made an effort to allow as many fans to experience the championship weekend festivities. For the past several years, the Final Four and Championship weekend has been held in enormous football and baseball complexes all across the country in order to maximize attendance, allowing tens of thousands of fans to attend the games. And, 2013 will be no different.

Besides, morphing a football stadium into a basketball arena is American entertainment at it's finest!

Next weekend, the 2013 Final Four will be held at the Georgia Dome and the seating capacity is expected to range anywhere from 70,000-80,000. The attendance record for an NCAA men's basketball championship game was 72,922 back when the game was held at Detroit's Ford Field in 2009.

Now, how can one become apart of these fabled festivities?

The easiest way is to be a student of the participating universities. During the First Four in Dayton, schools were allocated approximately 200 tickets for students and members of their basketball programs. In the second and third rounds of the tourney this year, schools were granted 550 tickets per game.

But, if you're not in school, prepare to shell out some cash.

When Final Four tickets first hit the open market, prices were already pretty steep. And, now that the tournament has promised compelling and theatric play, prices of Final Four tickets will undoubtedly skyrocket.

Originally, of the 14,392 tickets that SeatCrunch.com, a ticket allocation site that provides fans an opportunity to both buy and sell tickets, the average ticket price for the Championship game was $616.89. If you want to just go to the Semifinals, you can get there for a much cheaper average $535.56 per ticket, according to the site.

What is truly incredible is the price many people will pay to be thousands of feet away from the game action. On Friday afternoon, before the Sweet 16 kicked off, SeatCrunch's NCAA Men's Final Four Page had tickets available in the upper-deck of the University of George football stadium for $218.00. And, crazily enough, SeatCrunch is also offering parking passes for the event for -- what is actually a great price considering the event -- $120.

If those numbers don't show how valuable and coveted Final Four tickets have become, what does?

Thus, as the NCAA Tournament celebrates its 75th anniversary with an eye-popping competition, the tourney's championship game has certainly come a long way from it's original 1,000 seat location.

Will you be there?

?

Follow Jake Fischer on Twitter: www.twitter.com/JakeLFischer

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Source: http://www.huffingtonpost.com/jake-fischer/2013-final-four_b_2981963.html

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NKorea calls nukes country's 'life' at big meeting

SEOUL, South Korea (AP) ? A top North Korean decision-making body issued a pointed warning Sunday, saying that nuclear weapons are "the nation's life" and will not be traded even for "billions of dollars."

The comments came in a statement released after North Korean leader Kim Jong Un presided over the plenary meeting of the central committee of the ruling Workers' Party. The meeting, which set a "new strategic line" calling for building both a stronger economy and nuclear arsenal, comes amid a series of near-daily threats from Pyongyang in recent weeks, including a vow to launch nuclear strikes on the United States and a warning Saturday that the Korean Peninsula was in a "state of war."

Pyongyang is angry over annual U.S.-South Korean military drills and a new round of U.N. sanctions that followed its Feb. 12 nuclear test, the country's third. Analysts see a full-scale North Korean attack as unlikely and say the threats are more likely efforts to provoke softer policies toward Pyongyang from a new government in Seoul, to win diplomatic talks with Washington that could get the North more aid, and to solidify the young North Korean leader's image and military credentials at home.

North Korea made reference to those outside views in the statement it released through the official Korean Central News Agency following the plenary meeting.

North Korea's nuclear weapons are a "treasure" not to be traded for "billions of dollars," the statement said. They "are neither a political bargaining chip nor a thing for economic dealings to be presented to the place of dialogue or be put on the table of negotiations aimed at forcing (Pyongyang) to disarm itself," it said.

North Korea's "nuclear armed forces represent the nation's life, which can never be abandoned as long as the imperialists and nuclear threats exist on earth," the statement said.

North Korea has called the U.S. nuclear arsenal a threat to its existence since the 1950-53 Korean War, which ended in a truce, not a peace treaty, leaving the peninsula still technically at war. Pyongyang justifies its own nuclear pursuit in large part on that perceived U.S. threat.

While analysts call North Korea's threats largely brinkmanship, there is some fear that a localized skirmish might escalate. Seoul has vowed to respond harshly should North Korea provoke its military. Naval skirmishes in disputed Yellow Sea waters off the Korean coast have led to bloody battles several times over the years. Attacks blamed on Pyongyang in 2010 killed 50 South Koreans.

The plenary statement also called for strengthening the moribund economy, which Kim has put an emphasis on in his public statements since taking power after the death of his father, Kim Jong Il, in late 2011. The United Nations says two-thirds of the country's 24 million people face regular food shortages.

The statement called for diversified foreign trade and investment, and a focus on agriculture, light industry and a "self-reliant nuclear power industry," including a light water reactor. There was also a call for "the development of space science and technology," including more satellite launches. North Korea put a satellite into orbit on a long-range rocket in December. The United Nations called the launch a cover for a banned test of ballistic missile technology and increased sanctions on the North.

The central committee is a top decision-making body of the North's ruling Workers' Party. The committee is tasked with organizing and guiding the party's major projects, and its plenary meeting is usually convened once a year, according to Seoul's Unification Ministry. South Korean media said the last plenary session was held in 2010 and that this was the first time Kim Jong Un had presided over the meeting.

The White House says the United States is taking North Korea's threats seriously, but has also noted Pyongyang's history of "bellicose rhetoric."

On Thursday, U.S. military officials revealed that two B-2 stealth bombers dropped dummy munitions on an uninhabited South Korean island as part of annual defense drills that Pyongyang sees as rehearsals for invasion. Hours later, Kim ordered his generals to put rockets on standby and threatened to strike American targets if provoked.

___

Associated Press writer Hyung-jin Kim contributed to this report. Follow Foster Klug at www.twitter.com/APKlug.

Source: http://news.yahoo.com/nkorea-calls-nukes-countrys-life-big-meeting-124425461.html

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