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Tuesday, Sep 30th

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The Closing of Crumbs and the End of the Cupcake Era

Crumbs closesCrumbs Bake Shop shut down all its stores at the close of business on Monday, according to a report in the Wall Street Journal. The cupcake calamity comes amid vanishing same-store sales and over-saturation of shops in certain areas during the fad for the frosted dessert.

Signs of danger were unmistakable: Nasdaq suspended trading of Crumbs shares last Tuesday for the company’s failure to have the required minimum of $2.5 million in shareholder equity.

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How to Win Billions in Federal Contracts on a Permanent Tax Holiday

Ingersoll RandAmerican manufacturer Ingersoll-Rand Co. (IR) forged the tools that carved the Panama Canal and shaped Mount Rushmore. When it shifted its legal address to Bermuda in 2001 to reduce taxes, the maneuver sparked bipartisan outrage in Congress.

“These corporations have turned their back on their country,” Nevada Democrat Harry Reid fumed from the Senate floor, adding that his father, a hard-rock miner, had wielded an Ingersoll-Rand jackhammer. “There is no reason the U.S. government should reward tax runaways with lucrative government contracts.”

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Rhode Island governor signs minimum wage increase

Lincoln ChafeeRhode Island's Democratic governor, Lincoln Chafee, has signed a bill to increase the state's minimum wage by $1, to $9 an hour, his office said on Thursday, following similar moves by neighboring New England states.

The hike, which will take effect next year, comes as Democrats across the country have made raising the minimum wage a key priority ahead of November's elections, saying wages for millions of Americans have not kept pace with the rising cost of living.

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BNP Paribas pleads guilty to violating U.S. sanctions against Sudan, Iran and Cuba

BNP ParibasLots of forms of financial skulduggery can be described as "sophisticated," but not all of them are. A classification might be:

If you do some complicated stuff in such a way that you'd have a plausible case that you're following the rules, even if the authorities knew about all your complicated stuff, then that's a "sophisticated" way to evade the rules.
If you just, like, use Wite-Out to conceal the bad stuff that you're doing, then it's something else, even if you use a lot of Wite-Out and in complicated ways.

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Homeless college students and the fight to escape poverty through education

Homeless college students in USA month before his 18th birthday, Jeffrey Williams found himself homeless. The condition did not come out of blue, as Williams, who was adopted at the age of four, was warned about the fact by his adoptive parents, who said they would not support him after he graduated high school.

"They kind of told me, growing up, that this would happen, but I didn't think that this was actually going to happen,” says Williams. It was the summer of 2008 and Williams, a varsity football player who had just graduated high school, had two months to go before starting college – and a spot on the football team – at Wayne State University in Detroit, Michigan.

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U.S. Obama signs executive order on equal pay for women

equal pay for equal workKeeping with his promise to champion women’s rights in the workplace, President Barack Obama signed an executive order Tuesday that addresses the issue of unequal pay among federal contractors. While equal-pay advocates hail the move as a victory, many also say it doesn’t go far enough.

The executive order addresses the federal government’s gender wage gap by mandating that contractors publish wage data — by gender and race — to ensure compliance with equal-pay laws. The order also prohibits contractors from retaliating against employees who compare salaries.

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Forget about the "1%." Top "0.1% pulling ahead more

wealthiest americansThe "top 1%" might be the primary target of the masses' ire and envy, but it's actually the top 0.1% who are grabbing a bigger slice of wealth.

The average household in the top 1% pulled in earnings of $1,264,065 in 2012, according to a just-released analysis by investment firm Sadoff Investment Research. That's 41 times greater than the $30,997 average income of Americans.

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