Reuters (September 15)
“Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers.” Some experts predict approximately $70 billion in property losses from flooding in Texas alone. But recouping insured property loses is much easier than lost income. “Exclusions in the fine print of policies, along with waiting periods and disagreements over how to measure a company’s lost income, make business interruption claims among the trickiest in an industry renowned for complexity”
Tags: Business, Business interruption, Claims, Complexity, Exclusions, Flooding, Harvey, Hurricanes, Insurers, Irma, Lost income, Owners, Policies, Property losses, Texas
Wall Street Journal (August 7)
“The most striking fact about the recently announced sale of the Boston Globe and Washington Post is their low prices…. The prices reflect the decline of newspapers as a business in the Internet age, which is the kind of creative destruction millions of Americans have experienced. Disruption is the price a capitalist economy pays for innovation, and the news business is merely the latest example.” The new owners should be welcomed as they provide “an opportunity for new ideas and perhaps a turnaround.”
Tags: Boston Globe, Capitalism, Creative destruction, Decline, Disruption, Ideas, Innovation, Internet, Newspapers, Opportunity, Owners, Prices, Turnaround, Washington Post
The Economist (January 21, 2012)
The concept of limited liability, which protects shareholders, “is one of the greatest wealth-creating inventions of all time.” In many places, however, companies can be set up to hide or disguise the ultimate owners. “This is of great use to wrongdoers, and a huge headache for those who pursue them.” Both the World Bank and the OECD argue that the identities of owners should be disclosed. The Economist agrees. “Anyone registering a limited company should have to declare the names of the real people who ultimately own it, wherever they are, and report any changes. Lying about this should be a crime.”
The concept of limited liability, which protects shareholders, “is one of the greatest wealth-creating inventions of all time.” In many places, however, companies can be set up to hide or disguise the ultimate owners. “This is of great use to wrongdoers, and a huge headache for those who pursue them.” Both the World Bank and the OECD argue that the identities of owners should be disclosed. The Economist agrees. “Anyone registering a limited company should have to declare the names of the real people who ultimately own it, wherever they are, and report any changes. Lying about this should be a crime.”
