The Content Composer Org

MP3 player, also well known as digital audio player has become a staple of our gadget life. There are many brands of MP3 players on the market today. So, which MP3 player are the most suitable for you? That’s where this MP3 player guide comes in.

Basically, there are 3 types of MP3 player based on capacity: –

1. Hard drive MP3 player

- highest capacity
- largest in size
- heavy
- often labeled as an “Jukebox MP3 player”
- has moving parts
- example: Apple iPod video, Sony Network Walkman NW-HD5

2. Micro hard drive MP3 player

- use smaller hard drives
- lighter than hard drive MP3 player
- lower capacity than hard drive MP3 player but higher capacity than flash memory MP3 player
- example: Apple iPod mini, Creative Labs Zen Micro

3. Flash memory MP3 player

- smallest in size
- lowest capacity
- very light
- has no moving parts
- often labeled as an “portable MP3 player”
- example: mobiBLU Dah 1500i, Apple iPod nano

What should you concern when you want to buy a MP3 player?

1. Use / Purpose
a) MP3 player good for travel
Hard drive MP3 player is good for people traveling or away from computer for an extended period of time, where they can’t transfer music files from their computers. Micro hard drive MP3 player is another option for travel since it is slightly smaller and lighter than hard drive MP3 player. Flash memory MP3 player is also popular for travel if you do not mind to listen to the same music.

b) MP3 player good for sport / jogging / gym
Flash memory MP3 player is good for people exercising and jogging since it is very light. No moving parts for Flash memory MP3 player make it ideal for sport.

c) MP3 player good for home use
Hard drive MP3 player is good for listening song in living room. It is suited to be connected to external speakers.

2. Connectivity
There are two main options to transfer files from your computer: USB or FireWire. USB supported by both PCs and Macs whereas FireWire is supported only on Macs. For PC users, they need to ensure that the MP3 player support USB 2.0 which is faster than USB 1.1. Most of the MP3 players on market today are support USB 2.0.

3. Display screen
Majority of MP3 players have LCD screen. Some MP3 players have color screen instead of dull black and white screen. The main things to consider are all the information such as battery level, song name & elapsed time are easy to read.

4. Compatibility
PC or Mac compatibility. Mac users should ensure the MP3 player can support Mac since some MP3 players can only support PC.

5. Battery
MP3 players come with either rechargeable batteries (some can be charged via USB port) or disposable batteries.

6. Music format
Music files can be one of several types of formats, such as MP3, AAC (Advanced Audio Coding), WMA (Windows Media Audio) and Ogg Vorbis. Ogg Vorbis is a completely open, patent-free, professional audio encoding and streaming technology with all the benefits of Open Source.

7. Functionality
Some MP3 players have extra features such as voice recorder, FM radio, FM recorder, image viewer, video player.

8. Memory capacity
Most of the flash MP3 players come with 256MB, 512MB and 1GB. For hard drive MP3 players, they have gigabytes of storage capacity. If you would like to store many songs or CD collections in one, hard drive MP3 player or micro hard drive MP3 player is a better choice for you.

Alfred Ang is an author and web developer. Read more reviews at MP3 Player Review web and MP3 Player Accessory web.

There are many factors to consider when your goal is fat loss. I’m going to outline some steps you may want to take in reaching that goal. To lose weight for good means that you have to make some changes in your dietary and exercise habits. We all know that old habits die hard, and change can sometimes be difficult. Try these tips one at a time. It has been said that for something to become a habit it takes about 2-3 weeks. Attempting to rearrange your entire lifestyle all at once is too overwhelming and will only set you up for disappointment.

1. Eat more often. Try 5-6 smaller meals instead of 3 larger ones. This avoids the wild swings in insulin that many people experience when they eat 3 large meals a day. Insulin is very important in the body. Very high levels are usually not desirable since insulin can shut down the body’s fat burning mechanism. (Those people who have a history of diabetes may want to check with their doctors before changing your dietary habits).

2. Keep a diary of what you eat. Many people underestimate how many calories they actually eat. Buy a food scale if that will help you to weigh out your portion. Know the amount of calories, fat grams, proteins, and carbohydrates, in the foods you eat.

3. Try not to lose more than a pound or two a week. If you’re losing faster than this you are losing muscle and not fat. The slower you lose weight the more permanent the results.

4. A combination of aerobics and resistance training is the best exercise you can get. The more muscle you have, the more calories your body burns at rest, since muscle is a metabolically active tissue and require calories to maintain. Although you don’t burn a lot of calories during a resistance training session, you burn a lot afterwards. (Forgive me for sounding like a broken record on this one, but it is crucial in achieving your fitness goals)

5. Don’t pay too much attention to the scale. The scale can’t tell the difference between muscle and fat. Your bodyweight could stay the same but you could be gaining muscle and losing fat at the same time.

6. The type of foods you eat matters also. Try eating food high in fiber. Include more fruits and vegetables, less fats and sugars. Always look for the low fat alternative, and learn to substitute.

7. Proper caloric intake will vary from person to person. First of all, try to find out how many calories you’re eating now. If your bodyweight has stayed relatively constant, then this amount of calories is approximately how many you need to maintain your present weight. Your next step would be to create a calorie deficit. This is done by eating fewer calories, and increasing the amount of exercise you are getting.

8. If your drop your calorie intake, don’t do it by much. Very low calorie intakes can result in loss of muscle tissue and will also slow down your metabolism. You may also consider cycling your caloric intake. That means that you take in below the amount you need one day and then the amount needed to maintain the weight you are at now. This way, you calories will average out below that maintenance level for the week.

Now it’s time to take the next step. Put your good health and well being at the top of this list and you’re well on your way to a healthy and energetic lifestyle.

Sandra L. Garth is a wellness writer and consultant. Log on to
http://sandralgarth.com/ to stay informed and motivated by receiving biweekly fitness tips.

So you’ve scraped and saved, now you’ve finally gotten together a semi-respectable home theater system. You want even more, but the idea of spending another few thousand on new front speakers doesn’t cut it. What can you do?

There are ways to get the most out of what you have without breaking the bank. There are several areas you can look at to ensure your theater is set up correctly and performing at its best.

Cables and Interconnects – It’s imperative the signals are transferred from your source components to your speakers, going through various components along the way, with the least amount of degradation. Make sure your audio, video and speaker cables are all of good quality and that none are old and corroded. You can use contact enhancer to be sure the connection is really good. If you need any quality cables, check here: http://1touchmovie.com/blockbuster/BetterCables.html
Make sure to use the highest level of A/V connection your system supports. i.e. if you can use a component or DVI video connection from your DVD to your display device then do it.

Calibration – Your video display will definitely not look its best without proper calibration. Manufacturers have a dismal record when it comes to calibrating sets at the factory. Most are TVs designed to look their best on the showroom floor, not in your home theater. In fact, a CRT based rear projection TV can have its life dramatically shortened by improper calibration.

The contrast is invariably set too high to make the set stand out in the showroom environment. This sells more TVs but causes premature tube wear. (That sells more TVs too, I guess) Proper video calibration will correct the problem. I have used Joe Kane’s Digital Video Essentials for years and the Video Essentials laser disc before that. It is a great tool to help you get the best out of your home theater. Pick one up here:
http://1touchmovie.com/DVDOnline/Digital_Video_Essentials.html

Acoustic Improvements – These encompass a whole host of different things, from acoustically treating the interior of the room, to quieting down your projector. Whenever you lower your noise floor, you effectively increase your dynamic range. In addition, acoustic treatments can dramatically improve dialogue intelligibility, bass response and imaging.

One of the best in the “bang for the buck” category is to put a 1″ or 2″ thick, acoustic panel on the two side walls of the theater to reduce the “first reflection”. The first reflection is the sound that leaves the front speaker and takes a longer path to your ears by bouncing off the side wall on the way. Since it takes a longer path, it takes more time and arrives later than the direct sound that went straight from the speakers to your ears. The net effect is a loss of dialog intelligibility.

To find the correct placement for the acoustic material, sit at the listening position, place a small mirror on the side wall and move it until you can see the front speaker. When you can, that is the spot to center the acoustic panel.

Another, even cheaper, tweak is to optimize your subwoofer placement. For years people have been told “Bass is non-directional. You can put your sub anywhere”. That is, simply, BS. While low bass is fairly non-directional, the tonal quality and amount of bass is tremendously affected by subwoofer placement. A simple trick is to place the sub at the listening position (at ear height), then move around the room (at sub height) until you find the place with the best bass quality. If possible, that’s where you put the sub.

You can build a hush box around your projector to minimize noise from it. Make sure you use adequate ventilation to maintain proper cooling. That cannot be emphasized enough. As a partial measure, without having to build a whole box, you can place acoustic absorption material on the ceiling above the projector. If your projector is close to the ceiling, this will kill the noise that normally bounces off the ceiling and into the listening room.

I hope this gets you started down the path to even more enjoyment from your home theater and saves you some money at the same time.

Steve Faber has almost 15 years in the custom installation industry. He is a CEDIA certified designer and Installer 2 with certifications from both the ISF and THX. His experience spans many facets of the industry, from the trenches as an installer and control systems programmer, and system designer, to a business unit director for a specialty importer of high end audio video equipment, a sales rep for a large, regional consumer electronics distributor, and principal of a $1.5M+ custom installation firm. He currently is senior sales engineer for Digital Cinema Design in Redmond, WA. He is on the web at http://www.1touchmovie.com.

Why Plan Your Estate?

The knowledge that we will eventually die is one of the things that seem to distinguish humans from other living beings. At the same time, no one likes to dwell on the prospect of his or her own death. But if you postpone planning for your passing until it is too late, you run the risk that your intended beneficiaries – those you love the most – may not receive what you would want them to receive either because of extra administration costs, unnecessary taxes or squabbling among your heirs.

This is why estate planning is so important, no matter how small your estate may be. It allows you, to ensure that your assets and other possessions will go to the people you want, in the way you want, and when you want. It permits you to save as much as possible on taxes, court costs and attorneys’ fees; and it affords the comfort that your loved ones can mourn your loss without being simultaneously burdened with unnecessary red tape and financial confusion.

All estate plans should include, at minimum, two important estate-planning instruments: a durable power of attorney and a will. The first is for managing your property during your life, in case you are ever unable to do so yourself. The second is for the management and distribution of your property after death. In addition, more and more, Americans also are using revocable (or “living”) trusts to avoid probate and to manage their estates both during their lives and after they’re gone.

Your Will

Your will is a legally binding statement directing who will receive your property at your death. It also appoints a legal representative to carry out your wishes. However, the will covers only probate property. Many types of property or forms of ownership pass outside of probate. Jointly owned property, property in trust, life insurance proceeds and property with a named beneficiary, such as IRAs, insurance policies or 401(k) plans, can all pass outside of probate.

Why should you have a will?

Here are some reasons.

First, with a will you can direct where and to whom your assets (what you own) will go after your death. If you died instate (without a will), your estate would be distributed according to state law. Such distribution may or may not accord with your wishes.

Many people try to avoid probate and the need for a will by holding all of their assets jointly with their children. This can work, but often people spend unnecessary effort trying to make sure all the joint accounts remain equally distributed among their children. These efforts can
be defeated by a long-term illness of the parent or the death of a child. A will can be a much simpler means of affecting one’s wishes about how assets should be distributed.

The second reason to have a will is to make the administration of your estate run smoothly. Often the probate process can be completed more quickly and at less expense to your estate if there is a will. With a clear expression of your wishes, there are unlikely to be any costly, time-consuming disputes over who gets what.

Third, only with a will can you choose the person to administer your estate and distribute it according to your instructions. In Illinois this person is called your “personal representative”. If you do not have a will naming him or her, the court will make the choice for you. Usually the court appoints the first person to ask for the post, which is most closely related to you at the time of death.

Fourth, for larger estates, a well planned will can help reduce estate taxes.

Fifth, and most important, through a will you can appoint who will take your place, as guardian of your minor children should both you and their other parent both pass away.

Filling out the worksheet that our office provides will help you make decisions about what to put in your will. Bring it and any additional notes to our office and our estate planning professionals will be able to efficiently prepare a will that meets your needs and desires.

Estate Administration- Probate Procedure

Probate is the process by which a deceased person’s property, known as the “estate”, is passed to his or her heirs and legatees (people named in the will), the entire process, supervised by the probate court, usually takes about one year. However, substantial distributions from the estate can be made in the interim.

The emotional trauma brought on by the death of a close family member is often accompanied by bewilderment about the financial and legal steps the survivors must take. The spouse who passed away may have handled all of the couple’s finances. Or perhaps a child must begin taking care of probating an estate about which he or she knows little about. And this task may come on top of commitments to family and work that can’t be set aside. Finally, the estate itself may be in disarray or scattered amount many accounts, which is not unusual with a generation that saw banks collapse during the Depression.

Here we set out the steps the surviving family members should take. These responsibilities ultimately fall on whoever was appointed executor or personal representative in the deceased
family member’s will. Matters can be a bit more complicated in the absence of a will, because it may not be clear who has the responsibility of carrying out these steps.

First, secure the tangible property. This means anything you can touch, such as silverware, dishes, furniture, or artwork. You will need to determine accurate values of each piece of property, which may require appraisals, and then distribute the property as the deceased directed. If property is passed around to family members before you have the opportunity to
take an inventory; this will become a difficult, if not impossible, task. Of course, this does not apply to gifts the deceased may have made during life, which will not be part of his or her estate.

Second, take your time. You do not need to take any other steps immediately. When bills do need to be paid, they can wait a month or two without adverse repercussions. It’s more important that you and your family have time to grieve. Financial matters can wait. When you’re ready but not a day sooner, meet with one of our attorneys to review the steps necessary to administer the deceased’s estate. Bring as much information as possible about finances, taxes and debts. Don’t worry about putting the papers in order first; our attorney will have experience in organizing and understanding confusing financial statements.

In general rules of estate administration include the following steps:

1. Filing the will and petition at the probate court in order to be appointed executor or personal representative. In the absence of a will, heirs must petition the court to be appointed “administrator” of the estate.

2. Marshalling, or collecting the assets. This means that you have to find out everything the deceased owned. You need to file a list, known as an “inventory”, with the probate court. It’s generally best to consolidate all of the estate funds to the extent possible. Bills and bequests should be paid from a single checking account, either one you establish or one set by our firm on your behalf, so that you can keep track of all expenditures.

3. Paying bills and taxes. If an estate tax return is neededgenerally if the estate exceeds $675,000 in valueit must be filed within nine months of the date of death. If you miss this deadline and the estate is taxable, severe penalties and interest may apply. If you do not have all of the information available in time, you can file for an extension and pay your best estimate of the tax due.

4. Filing tax returns. You must also file a final income tax return for the decedent and, if the estate holds any assets and earns interest or dividends, an income tax return for the estate. If the estate does earn income during the administration process, it will have to obtain its own tax identification number in order to keep track of such earnings and file an estate income tax

notion in addition to the decedent’s final income tax return.

5. Distributing property to the heirs and legatees. Generally, executors do not pay out all of the estate assets until the period runs out for creditors to make claims, which in Illinois is 6 months from the date the estate, notice of death in the newspaper. But once the executor understands the estate and the likely claims, he or she can distribute most of the assets, retaining a reserve for unanticipated claims and costs of closing out the estate.

6. Filing a final account. The executor must file an account with the probate court listing any income to the estate since the date of death and all expenses and estate distributions. Once the court approves this final account, the executor can distribute whatever is left in the closing reserve, and finish his or her work

Avoiding probate through joint ownership or trusts can eliminate some of these steps. But whoever is left in charge still has to pay all debts, file tax returns, and distribute the property to the rightful heirs. You can make it easier for your heirs by keeping good records of your assets and liabilities. This will shorten the process and reduce the legal bill.

Guardianship and Conservatorship

Every adult is assumed to be capable of making his or her own decisions unless a court determines otherwise. If an adult becomes incapable of making responsible decisions due to a mental disability, the court will appoint a substitute decision maker, called a “guardian”. Guardianship is a legal relationship between a competent adult (the “guardian”) and a person who because of incapacity is no longer able to take care of his or her own affairs (the “ward”). The guardian is authorized to make legal, financial, and health care decisions for the ward. Depending on the terms of the guardianship, the guardian may or may not have to seek court approval for various decisions, but generally the guardian acts without being required to incur the expense of court approval.

Some incapacitated individuals can make responsible decisions in some areas of their lives but not others. In such cases, the court may give the guardian decision-making power over only those areas in which the incapacitated person is unable to make responsible decisions (a so-called “limited guardianship”). In other words, the guardian may exercise only those rights that have been removed from the ward and delegated to the guardian. Guardianships are consuming and expensive. Prefer planning with Power of Attorneys for health care and financial matters will significantly reduce cost and time in the event you became incapacitated. (See Page for detailed discussion of Power of Attorney).

Incapacity

Generally a person is judged to be in need of guardianship when he or she shows a lack of capacity to make responsible decisions. A person cannot be declared incompetent simply because he or she makes irresponsible or foolish decisions, but only if the person is shown to lack the capacity to make sound decisions. For example, a person may not be declared incompetent simply because he or she spends money in ways that seem odd to someone else. Also, a developmental disability or mental illness is not, by itself, enough to declare a person incompetent.

Process

Anyone interested in the proposed ward’s well being can request a guardianship. An attorney is usually retained to file a petition for a hearing in the probate court in the proposed ward’s county of residence. The proposed ward is entitled to legal representation at the hearing, and the court will appoint an attorney if the allegedly incapacitated person cannot afford lawyer.

At the hearing, the court with the help of the Guardian ad Litem attempts to determine if the proposed ward is incapacitated and, if so, to what extent the individual requires assistance. If the court determines that the proposed ward is indeed incapacitated, the court then decides if the person seeking the role of guardian will be responsible.

Guardian

A guardian can be any competent adult-the ward’s spouse, another family member, a friend, a neighbor, or a professional guardian (an unrelated person who has received
special training). A competent individual may nominate a proposed guardian through a durable power of attorney in case she ever needs a guardian.

The guardian need not be a person at allit can be a non-profit agency or a public or private corporation. If a person is found to be incapacitated and a suitable guardian cannot be found, courts in many states can appoint a public guardian, a publicly financed agency that serves this purpose. In naming someone to serve as a guardian, courts give first consideration to those who play a significant role in the ward’s life – people who are both aware of and sensitive to the ward’s needs and preferences. If two individuals wish to share guardianship duties, courts can name co-guardians.

Reporting Requirements

Court often give guardians broad authority to manage the ward’s affairs. In addition to lacking the power to decide how money is spent or managed, where to live and what medical care he or she should receive, wards also may not have the right to vote, marry or divorce, or carry a driver’s license. Guardians are expected to act in the best interests of the ward, but give the guardian’s often-broad authority; there is the potential for abuse. For this reason, courts hold guardians accountable for their actions to ensure that they don’t take advantage of or neglect the ward.

The guardian of the property inventories the ward’s property, invests the ward’s funds so that they can be used for the ward’s support, and files regular, detailed reports with the court. A guardian of the property also must obtain court approval for certain financial transactions. Guardians must file an annual account of how they have handled the ward’s finances. Guardians must offer proof that they made adequate residential arrangements for the ward, that they provided sufficient health care and treatment services, and that they made available educational and training programs, as needed. Guardians who cannot prove that they have adequately cared for the ward may be removed and replaced by another guardian.

For more information, please see Part II of this article

Nicolosi & Associates – Attorneys at Law Since 1948. Skilled in the law. Experienced in business. http://www.nicolosilaw.com

You can’t judge a book by its cover. Can’t you — in the same way — judge an experience you have not lived through ?

In Holland, a country I resided until two years ago, there are many satellite dishes. Most of them are owned by foreigners (wrongly labeling this group, but I’ll repeat doing this consistently later on in this article). The dishes are visible in many suburbs and scandalize people, expressing the non-integration issue.

By means of a satellite dish you are able to receive television from your own country. In your own language. Everybody is free to use them.

But, is the main problem language, or (mis-) understanding itself? Do people who do speak the same language always understand themselves?

In Holland, “we” have helped foreign immigrants by translating administration (admission) papers into several (foreign) languages. So they were easy to read.

That is not done in Spain. No help, no translation; if you can’t read Spanish you’ve got a problem to solve by yourself (although free language programs are open for immigrants).

And the new experience?
That is – now that I live in Spain, I’m observing again the foreigners who own the majority of the satellite dishes. But this time, I’m part of this group of foreigners.

This experience sheds some new light on integration and immigration issues. Language is indeed the main topic. But while speaking different languages, that doesn’t mean that living together is not possible. We are here for some reasons. In the little town nearby there are residents from 118 different nationalities.

Like in Holland, immigration happens for some reason.
The satellite dish represents the symbol of misunderstanding. But that has little to do with language itself. I think.

© 2006 Hans Bool

Hans Bool is the founder of Astor White a traditional management consulting company that offers online management advice. Astor Online solves issues in hours what normally would take days.
You can apply for a free demo account

Rope skipping is an excellent cardiovascular exercise
according to the U.S. Olympic Committee Sports Medicine
Council. It is far less hard on the muscles and bones than
jogging.

While running or jogging, each foot absorbs up to 5 times
the body weight from the force of the impact as the foot
hits the ground. This force of hitting the ground can cause
damage to the feet, ankles, hips and knees. But in rope
skipping, the shock of hitting the ground is absorbed by
both feet allowing the calf muscles to control and absorb
the impact.

According to the American College of Sports Medicine,
skipping rope is among the activities it recommends for
aerobic conditioning. In order to improve heart and lung
health, it must be performed 3 to 5 times per week for 12 to
20 minutes an hour, and at an intensity that will get the
heart rate into training range.

To find your training range subtract your age from 220.
Multiply that figure by .9 to get the high range. Multiply
by .6 to get low range. With this formula a person 25 years
old must keep their aerobic heart pulse between 117 and 176
to be gaining benefit. Aerobic benefits do not diminish or
decline with training as in other aerobic activities.

From an energy standpoint, jumping rope at about 130
revolutions per minute is similar to running at 6 miles per
hour or cycling 12 miles per hour. Just 10 minutes of rope
skipping is equivalent to a one-mile run.

When choosing a rope, hold the rope and stand with your feet
on the middle. If the length is correct, the handles should
just reach your armpits. Handles should be thick and
comfortable.

Look for a cushioned surface to jump on. A large
rectangular carpet remnant is ideal. Hard surfaces like
concrete should be avoided.

Choose well-cushioned athletic footwear just as you would
for walking or running.

Start slow by gradually increasing session time over 2 to 3
weeks to let your leg muscles get accustomed to the extra
exercise.

Many adults give up rope jumping because they are
uncoordinated and miss too many steps. But this improves
with time and practice.

More information on jump ropes may be found at:

http://www.apluswriting.net/diettips/fitnessequipment.htm

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Author: Marilyn Pokorney
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Also loves crafts, gardening, and reading.
Website: http://www.apluswriting.net

Some call it the “unofficial” or “informal” economy, others call it the “grey economy” but the old name fits it best: the “black economy”. In the USA “black” means “profitable, healthy” and this is what the black economy is. Macedonia should count its blessings for having had a black economy so strong and thriving to see it through the transition. If Macedonia had to rely only on its official economy it would have gone bankrupt long ago.

The black economy is made up of two constituent activities:

• Legal activities that are not reported to the tax authorities and the income from which goes untaxed and unreported. For instance: it is not illegal to clean someone’s house, to feed people or to drive them. It is, however, illegal to hide the income generated by these activities and not to pay tax on it. In most countries of the world, this is a criminal offence, punishable by years in prison.

• Illegal activities which, needless to say, are also not reported to the state (and, therefore, not taxed).

These two types of activities together are thought to comprise between 15% (USA, Germany) to 60% (Russia) of the economic activity (as measured by the GDP), depending on the country. It would probably be an underestimate to say that 40% of the GDP in Macedonia is “black”. This equals 1.2 billion USD per annum. The money generated by these activities is largely held in foreign exchange outside the banking system or smuggled abroad (even through the local banking system). Experience in other countries shows that circa 15% of the money “floats” in the recipient country and is used to finance consumption. This should translate to 1 billion free floating dollars in the hands of the 2 million citizens of Macedonia. Billions are transferred to the outside world (mostly to finance additional transactions, some of it to be saved in foreign banks away from the long hand of the state). A trickle of money comes back and is “laundered” through the opening of small legal businesses.

These are excellent news for Macedonia. It means that when the macro-economic, geopolitical and (especially) the micro-economic climates will change – billions of USD will flow back to Macedonia. People will bring their money back to open businesses, to support family members and just to consume it. It all depends on the mood and on the atmosphere and on how much these people feel that they can rely on the political stability and rational management. Such enormous flows of capital happened before: in Argentina after the Generals and their corrupt regime were ousted by civilians, in Israel when the peace process started and in Mexico following the signature of NAFTA, to mention but three cases. These reserves can be lured back and transform the economy.

But the black economy has many more important functions.

The black economy is a cash economy. It is liquid and fast. It increases the velocity of money. It injects much needed foreign exchange to the economy and inadvertently increases the effective money supply and the resulting money aggregates. In this sense, it defies the dictates of “we know better” institutions such as the IMF. It fosters economic activity and employs people. It encourages labour mobility and international trade. Black economy, in short, is very positive. With the exception of illegal activities, it does everything that the official economy does – and, usually, more efficiently.

So, what is morally wrong with the black economy? The answer, in brief: it is exploitative. Other parts of the economy, which are not hidden (though would have liked to be), are penalized for their visibility. They pay taxes. Workers in a factory owned by the state or in the government service cannot avoid paying taxes. The money that the state collects from them is invested, for instance, in infrastructure (roads, phones, electricity) or used to pay for public services (education, defence, policing). The operators of the black economy enjoy these services without paying for them, without bearing the costs and worse: while others bear the costs. These encourages them, in theory to use these resources less efficiently.

And all this might be true in a highly efficient, almost ideal market economy. The emphasis is on the word “market”. Unfortunately, we all live in societies which are regulated by bureaucracies which are controlled (in theory, rarely in practice) by politicians. These elites have a tendency to misuse and to abuse resources and to allocate them in an inefficient manner. Even economic theory admits that any dollar left in the hands of the private sector is much more efficiently used than the same dollar in the hands of the most honest and well meaning and well planning civil servant. Governments all over the world distort economic decisions and misallocate scarce economic resources.

Thus, if the goals are to encourage employment and economic growth – the black economy should be welcomed. This is precisely what it does and, by definition, it does so more efficiently than the government. The less tax dollars a government has – the less damage it does. This is an opinion shares by most economists in the world today. Lower tax rates are an admission of this fact and a legalization of parts of the black economy.

The black economy is especially important in times of economic hardships. Countries in transition are a private case of emerging economies which are a private case of developing countries which used to be called (in less politically correct times) “Third World Countries”. They suffer from all manner of acute economic illnesses. They lost their export markets, they are technologically backward, their unemployment skyrockets, their plant and machinery are dilapidated, their infrastructure decrepit and dysfunctional, they are lethally illiquid, they become immoral societies (obligations not honoured, crime flourishes), their trade deficits and budget deficits balloon and they are conditioned to be dependent on handouts and dictates from various international financial institutions and donor countries.

Read this list again: isn’t the black economy a perfect solution until the dust settles?

It enhances exports (and competitiveness through imports), it encourages technology transfers, it employs people, it invests in legitimate businesses (or is practised by them), it adds to the wealth of the nation (black marketeers are big spenders, good consumers and build real estate), it injects liquidity to an otherwise dehydrated market. Mercifully, the black economy is out of the reach of zealous missionaries such as the IMF. It goes its own way, unnoticed, unreported, unbeknownst, untamed. It doesn’t pay attention to money supply targets (it is much bigger than the official money supply figure), or to macroeconomic stability goals. It plods on: doing business and helping the country to survive the double scourges of transition and Western piousness and patronizing. As long as it is there, Macedonia has a real safety net. The government is advised to turn a blind eye to it for it is a blessing in disguise.

There is one sure medicine: eliminate the population and both unemployment and inflation will be eliminated. Without the black economy, the population of Macedonia would not have survived. This lesson must be remembered as the government prepares to crack down on the only sector of the economy which is still alive and kicking.

Operational Recommendations

The implementation of these recommendations and reforms should be obliged to be GRADUAL. The informal economy is an important pressure valve for the release of social pressures, it ameliorates the social costs inherent to the period of transition and it constitutes an important part of the private sector.

As we said in the body of our report, these are the reasons for the existence of an informal economy and they should be obliged to all be tackled:

• High taxation level (in Macedonia, high payroll taxes)

• Onerous labour market regulations

• Red tape and bureaucracy (which often leads to corruption)

• Complexity and unpredictability of the tax system

Reporting Requirements and Transparency

• All banks should be obliged to report foreign exchange transactions of more than 10,000 DM (whether in one transaction or cumulatively by the same legal entity). The daily report should be submitted to the Central Bank. In extreme cases, the transactions should be investigated.

• All the ZPP account numbers of all the firms in Macedonia should be publicly available through the Internet and in printed form.

• Firms should be obliged by law to make a list of all their bank accounts available to the ZPP, to the courts and to plaintiffs in lawsuits.

• All citizens should be obliged to file annual, personal tax returns (universal tax returns, like in the USA). This way, discrepancies between personal tax returns and other information can lead to investigations and discoveries of tax evasion and criminal activities.

• All citizens should be obliged to file bi-annual declarations of personal wealth and assets (including real estate, vehicles, movables, inventory of business owned or controlled by the individual, financial assets, income from all sources, shares in companies, etc.)

• All retail outlets and places of business should be required to install – over a period of 3 years – cash registers with “fiscal brains”. These are cash registers with an embedded chip. The chips are built to save a trail (detailed list) of all the transactions in the place of business. Tax inspectors can pick the chip at random, download its contents to the tax computers and use it to issue tax assessments. The information thus gathered can also be crossed with and compared to information from other sources (see: “Databases and Information Gathering”). This can be done only after the full implementation of the recommendations in the section titled “Databases and Information Gathering”. I do not regard it as an effective measure. While it increases business costs – it is not likely to prevent cash or otherwise unreported transactions.

• All taxis should be equipped with taximeters, which include a printer. This should be a licencing condition.

• Industrial norms (for instance, the amount of sugar needed to manufacture a weight unit of chocolate, or juice) should be revamped. Norms should NOT be determined according to statements provided by the factory – but by a panel of experts. Each norm should be signed by three people, of which at least one is an expert engineer or another expert in the relevant field. Thought should be dedicated to the possibility of employing independent laboratories to determine norms and supervise them.

• Payments in wholesale markets should be done through a ZPP counter or branch in the wholesale market itself. Release of the goods and exiting the physical location of the wholesale market should be allowed only against presentation of a ZPP payment slip.

Reduction of Cash Transactions

• Cash transactions are the lifeblood of the informal economy. Their reduction and minimization is absolutely essential in the effort to contain it. One way of doing it is by issuing ZPP payment (debit) cards to businesses, firm and professionals. Use of the payment cards should be mandatory in certain business-to-business transactions.

• All exchange offices should be obliged to issue receipt for every cash transaction above 100 DM and to report to the Central Bank all transactions above 1000 DM. Suspicious transactions (for instance, transactions which exceed the financial wherewithal of the client involved) should be duly investigated.

• The government can reduce payroll taxes if the salary is not paid in cash (for instance, by a transfer to the bank account of the employee). The difference between payroll taxes collected on cash salaries and lower payroll taxes collected on noncash salaries – should be recovered by imposing a levy on all cash withdrawals from banks. The banks can withhold the tax and transfer it to the state monthly.

• Currently, checks issued to account-holders by banks are virtually guaranteed by the issuing banks. This transforms checks into a kind of cash and checks are used as cash in the economy. To prevent this situation, it is recommended that all checks will be payable to the beneficiary only. The account-holder will be obliged to furnish the bank with a monthly list of checks he or she issued and their details (to whom, date, etc.). Checks should be valid for 5 working days only.

• An obligation can be imposed to oblige businesses to effect payments only through their accounts (from account to account) or using their debit cards. Cash withdrawals should be subject to a withholding tax deducted by the bank. The same withholding tax should be applied to credits given against cash balances or to savings houses (stedilnicas). Alternatively, stedilnicas should also be obliged to deduct, collect and transfer the cash withdrawal withholding tax.

• In the extreme and if all other measures fail after a reasonable period of time, all foreign trade related payments should be conducted through the Central Bank. But this is really a highly irregular, emergency measure, which I do not recommend at this stage.

• The interest paid on cash balances and savings accounts in the banks should be increased (starting with bank reserves and deposits in the central bank).

• The issuance of checkbook should be made easy and convenient. Every branch should issue checkbooks. All the banks and the post office should respect and accept each other’s checks.

• A Real Time Gross Settlement System should be established to minimize float and facilitate interbank transfers.

Government Tenders

• Firms competing for government tenders should be obliged to acquire a certificate from the tax authorities that they owe no back-taxes. Otherwise, they should be barred from bidding in government tenders and RFPs (Requests for Proposals).

Databases and Information Gathering

• Estimating the informal economy should be a priority objective of the Bureau of Statistics, which should devote considerable resources to this effort. In doing so, the Bureau of Statistics should coordinate closely with a wide variety of relevant ministries and committees that oversee various sectors of the economy.

• All registrars should be computerized: land, real estate, motor vehicles, share ownership, companies registration, tax filings, import and export related documentation (customs), VAT, permits and licences, records of flights abroad, ownership of mobile phones and so on. The tax authorities and the Public Revenue Office (PRO) should have unrestricted access to ALL the registers of all the registrars. Thus, they should be able to find tax evasion easily (ask for sources of wealth- how did you build this house and buy a new car if you are earning 500 DM monthly according to your tax return?)

• The PRO should have complete access to the computers of the ZPP and to all its computerized and non-computerized records.

• The computer system should constantly compare VAT records and records and statements related to other taxes in order to find discrepancies between them.

• Gradually, submissions of financial statements, tax returns and wealth declarations should be computerized and done even on a monthly basis (for instance, VAT statements).

• A system of informants and informant rewards should be established, including anonymous phone calls. Up to 10% of the intake or seizure value related to the information provided by the informant should go to the informant.

Law Enforcement

• Tax inspectors and customs officials should receive police powers and much higher salaries (including a percentage of tax revenues). The salaries of all tax inspectors – regardless of their original place of employment – should be equalized (of course, taking into consideration tenure, education, rank, etc.).

• Judges should be trained and educated in matters pertaining to the informal economy. Special courts for taxes, for instance, are a good idea (see recommendation below). Judges have to be trained in tax laws and the state tax authorities should provide BINDING opinions to entrepreneurs, businessmen and investors regarding the tax implications of their decisions and actions.

• It is recommended to assign tax inspectors to the public prosecutors’ office to work as teams on complex or big cases.

• To establish an independent Financial and Tax Police with representatives from all relevant ministries but under the exclusive jurisdiction of the PRO. The remit of this Police should include all matters financial (including foreign exchange transactions, property and real estate transactions, payroll issues, etc.)

• Hiring and firing procedures in all the branches of the tax administration should be simplified. The number of administrative posts should be reduced and the number of tax inspectors and field agents increased.

• Tax arrears and especially the interest accruing thereof should be the first priority of the ZPP, before all other payments.

• All manufacturers and sellers of food products (including soft drinks, sweetmeats and candy, meat products, snacks) should purchase a licence from the state and be subjected to periodic and rigorous inspections.

• All contracts between firms should be registered in the courts and stamped to become valid. Contracts thus evidenced should be accompanied by the registration documents (registrar extract) of the contracting parties. Many “firms” doing business in Macedonia are not even legally registered.

Reforms and Amnesty

• A special inter-ministerial committee with MINISTER-MEMBERS and headed by the PM should be established. Its roles: to reduce bureaucracy, to suggest appropriate new legislation and to investigate corruption.

• Bureaucracy should be pared down drastically. The more permits, licences, tolls, fees and documents needed – the more corruption. Less power to state officials means less corruption. The One Stop Shop concept should be implemented everywhere.

• A general amnesty should be declared. Citizens declaring their illegal wealth should be pardoned BY LAW and either not taxed or taxed at a low rate once and forever on the hitherto undeclared wealth.

The Tax Code

• To impose a VAT system. VAT is one the best instruments against the informal economy because it tracks the production process throughout a chain of value added suppliers and manufacturers.

• The Tax code needs to be simplified. Emphasis should be placed on VAT, consumption taxes, customs and excise taxes, fees and duties. To restore progressivity, the government should directly compensate the poor for the excess relative burden.

• After revising the tax code in a major way, the government should declare a moratorium on any further changes for at least four years.

• The self-employed and people whose main employment is directorship in companies should be given the choice between paying a fixed % of the market value of their assets (including financial assets) or income tax.

• All property rental contracts should be registered with the courts. Lack of registration in the courts and payment of a stamp tax should render the contract invalid. The courts should be allowed to evidence and stamp a contract only after it carries the stamp of the Public Revenue Office (PRO). The PRO should register the contract and issue an immediate tax assessment. Contracts, which are for less than 75% of the market prices, should be subject to tax assessment at market prices. Market prices should be determined as the moving average of the last 100 rental contracts from the same region registered by the PRO.

• Filing of tax returns – including for the self-employed – should be only with the PRO and not with any other body (such as the ZPP).

Legal Issues

• The burden of proof in tax court cases should shift from the tax authorities to the person or firm assessed.

• Special tax courts should be established within the existing courts. They should be staffed by specifically trained judges. Their decisions should be appealed to the Supreme Court. They should render their decisions within 180 days. All other juridical and appeal instances should be cancelled – except for an appeal instance within the PRO. Thus, the process of tax collection should be greatly simplified. A tax assessment should be issued by the tax authorities, appealed internally (within the PRO), taken to a tax court session (by a plaintiff) and, finally, appealed to the Supreme Court (in very rare cases).

• The law should allow for greater fines, prison terms and for the speedier and longer closure of delinquent businesses.

• Seizure and sale procedures should be specified in all the tax laws and not merely by way of reference to the Income Tax Law. Enforcement provisions should be incorporated in all the tax laws.

• To amend the Law on Tax Administration, the Law on Personal Income Tax and the Law on Profits Tax as per the recommendations of the IRS experts (1997-9).

Customs and Duties

• Ideally, the customs service should be put under foreign contract managers. If this is politically too sensitive, the customs personnel should be entitled to receive a percentage of customs and duties revenues, on a departmental incentive basis. In any case, the customs should be subjected to outside inspection by expert inspectors who should be rewarded with a percentage of the corruption and lost revenues that they expose.

• In the case of imports or payments abroad, invoices, which include a price of more than 5% above the list price of a product, should be rejected and assessment for the purposes of paying customs duties and other taxes should be issued at the list price.

• In the case of exports or payments from abroad, invoices which include a discount of more than 25% on the list price of a product should be rejected and assessment for the purposes of paying customs duties and other taxes should be issued at the list price.

• The numbers of tax inspectors should be substantially increased and their pay considerably enhanced. A departmental incentive system should be instituted involving a percentage of the intake (monetary fines levied, goods confiscated, etc.)

• The computerized database system (see “Databases and Information Gathering”) should be used to compare imports of raw materials for the purposes of re-export and actual exports (using invoices and customs declarations). Where there are disparities and discrepancies, severe and immediate penal actions should be taken. Anti-dumping levies and measures, fines and criminal charges should be adopted against exporters colluding with importers in hiding imported goods or reducing their value.

• Often final products are imported and declared to the customs as raw materials (to minimize customs duties paid). Later these raw materials are either sold outright in the domestic or international markets or bartered for finished products (for example: paints and lacquers against furniture or sugar against chocolate). This should be a major focus of the fight against the informal economy. I follow with an analysis of two products, which are often abused in this manner.

• I study two examples (white sugar and cooking oil) though virtually all raw materials and foods are subject to the aforementioned abuse.

• White Sugar is often imported as brown sugar. One way to prevent this is to place sugar on the list of LB (import licence required) list, to limit the effective period of each licence issued, to connect each transaction of imported brown sugar to a transaction of export, to apply the world price of sugar to customs duties, to demand payment of customs duties in the first customs terminal, to demand a forwarder’s as well as an importer’s guarantee and to require a certificate of origin. The same goes for Cooking Oil (which – when it is imported packaged – is often declared as some other goods).

• All payments to the customs should be made only through the ZPP. Customs and tax inspectors should inspect these receipts periodically.

• All goods should be kept in the customs terminal until full payment of the customs duties, as evidenced by a ZPP receipt, is effected.

Public Campaign

• The government should embark on a massive Public Relations and Information campaign. The citizens should be made to understand what is a budget, how the taxes are collected, how they are used. They should begin to view tax evaders as criminals. “He who does not pay his taxes – is stealing from you and from your children”, “Why should YOU pay for HIM?” “If we all did not pay taxes- there would be no roads, bridges, schools, or hospitals” (using video to show disappearing roads, bridges, suffering patients and students without classes), “Our country is a partnership – and the tax-evader is stealing from the till (kasa)” and so on.

• The phrase “Gray Economy” should be replaced by the more accurate phrases “Black Economy” or “Criminal Economy”.

About The Author

Sam Vaknin is the author of “Malignant Self Love – Narcissism Revisited” and “After the Rain – How the West Lost the East”. He is a columnist in “Central Europe Review”, United Press International (UPI) and ebookweb.org and the editor of mental health and Central East Europe categories in The Open Directory, Suite101 and searcheurope.com. Until recently, he served as the Economic Advisor to the Government of Macedonia.

His web site: http://samvak.tripod.com

A good financial plan demonstrates to investors that you are a competent manager, and that you may have that special managerial edge over other small business owners looking for equity money. You may gain a decided advantage through well-prepared plans and projections that include: cash budgets, pro forma statements, and capital investment analysis and capital source studies.

Cash budgets should be projected for one year and prepared monthly. They should combine expected sales revenues, cash receipts, material, labor and overhead expenses, and cash disbursements on a monthly basis. This permits anticipation of fluctuations in the level of cash and planning for short term borrowing and investment. Pro forma statements should be prepared for planning up to 3 years ahead.

Now, making these financial plans will not guarantee that you’ll be able to get venture capital. Not making them will virtually assure that you will not receive favorable consideration from venture capitalists.

An investment in the company may be in the final form of direct stock ownership which does not impose fixed charges. More likely, it will be in an interim form, such as a type of loan that can be converted to stock.

Angel investors and venture capital firms generally intend to realize capital gains on their investments by providing for a stock buy-back by the firm, by arranging a public offering, or by providing for a merger with a larger firm that has publicly traded stock. They usually hope to do this within five to seven years of their initial investment.

Most equity financing agreements guarantee that a major investor participates in any stock sale and approves any merger, regardless of their percentage of stock ownership. Sometimes the agreement requires that management work toward an eventual stock sale or merger. Clearly, the owner-manager of a small company seeking equity financing must consider that taking in a venture capitalist as a partner may be virtually a commitment to sell out or go public.

Types of Equity Investors
There are several paths to locating equity capital.

Individual private investors. Private placements of equity can be made through your contacts, those of your financial advisors, or by presentations before investment groups.

Finder firms. Such firms may be able to help the small company seeking capital, though they are generally not sources of capital themselves. Deal with reputable, professional finders whose fees are in line with industry practice. Further, note that investors generally prefer working directly with principals in making investments, though finders may provide useful introductions.

Traditional partnerships–which are often established by wealthy families to aggressively manage a portion of their funds by investing in small companies;

Professionally managed pools–which are made up of institutional money and which operate like the traditional partnerships;

Investment banking firms–which usually trade in more established securities, but occasionally form investor syndicates for venture proposals;

Once an interested investor is located, the rest of the process would seem simple; if you’re selling stock, you take the investors’ check and give them a stock certificate. Or if it were to be a loan, you would take the check and sign a note. Unfortunately, it’s not quite that simple.

Regardless of the source of financing–family and friends, angels, or venture capital, expect some “due diligence” to be performed. Claims would be verified, and generally some forms of guarantees of collateral on the part of the entrepreneur would be documented, and possibly situations where the investor could take charge of the business.
Entrepreneurs, in their enthusiasm, often oversell. The execution of documents that clearly express responsibilities and safeguards is essential to a system based so heavily on trust.

John B. Vinturella, Ph.D. has almost 40 years experience as a management and strategic consultant, entrepreneur, author, and college professor. For 20 of those years, Dr. Vinturella was owner/president of a distribution company that he founded. He is a principal in business opportunity sites jbv.com and muddledconcept.com, and maintains business and political blogs.

With the men folk absorbed in talks of spicing up their sex life with Viagra, the other benefits of Viagra to the human body take a backseat. People’s view of Viagra is strait-jacketed. They consider it just as an oral pill that can overcome ED, with some side effects. But apart from sizzling up your sex life, it has other benefiting effects on your body.

Reports coming from researchers in different areas of health at various universities have come up with exciting facts about Viagra. Researchers in Saarland University found out that Viagra can easily reduce the symptoms of Raynaud’s phenomenon, a circulatory disorder. Another research team has published a report that Viagra can help patients with a fatal pulmonary arterial hypertension that is affecting around 100,000 people the world over.

Viagra could come to the aid of mountaineers, who frequently face the wrath of deadly cardiovascular effects at high altitudes. A finding of the Medicine Society of North America says that it can help in curing benign prostrate hyperplasia (BPH). A statement of researchers in John Hopkins University claims that fifty percent of the hormonal stress on the heart can be reduced with the use of this oral tablet. A test conducted on pregnant rats at the Vermont College of Medicine suggests that Viagra would prove helpful in cases of hypertensive pregnancy.

All these reports and findings go on to prove that Viagra is not just about getting an erection, it could prove to be beneficial in other matters of health too.

Naorem writes on everything related to erectile dysfunction and viagra. you can visit http://www.viagrathunder.com to check out the latest articles and titbits related to men’s erectile issue.

Have a dog lover on your gift list? Want to give a special gift that any dog owner will enjoy? You’re in luck! You can choose the perfect dog lover gift from the huge selection that’s available. Just about any type of product is available as a dog lover gift, so you can find a special gift that stands out from the rest.

You might be a bit overwhelmed when you first browse through a selection of dog lover gifts – there’s so many available! – but there’s a way to narrow down your selection. You can choose a gift by dog breed or, if you already have an item in mind, you can look for that gift in a dog lover theme.

Just about everything you can think of is available in a dog motif. Kitchen tools, cups and dishes, picture frames, and figurines can be found to suit the dog lover. You can also find fabrics and ready-made jackets, pillow cases, scarves, comforters and handbags designed for the dog lover.

If you are looking for a gift with a particular dog breed in mind, it’s easy to find something appropriate. It doesn’t matter if your friend owns a Dalmatian, an Airedale, a Maltese or an English bulldog – you can find lots of gifts that match the type of dog.

Dog owners love their pets, so a good dog lover gift is a picture frame that they can put a nice photo of Rover in. Check out the huge selection of dog-related picture frames that are available – you can find something to suit both owner and dog!

Speaking of pictures, your dog owner friend would love a sweat shirt or t-shirt with a picture of their dog on the front. This kind of personalized gift will be appreciated and remembered every time they wear the clothing.

Other popular gifts for the dog owner include personalized jewelry, tote bags, notebooks and stationary, and license plate frames. Any dog owner will be thrilled to receive these special gifts to remind him or her of the precious pooch in their life.

When choosing a dog lover gift for your friend, don’t forget to get something for the dog too. Buy some dog biscuits or a personalized feeding bowl to go along with your “human” gift and you will have a pair of friends for life.

Remember, a dog lover gift is welcome on any occasion. No need to wait for birthdays or Christmas – a special gift for your dog lover friend will be appreciated at any time!

Copyright 2005

Jane K is a lifelong dog enthusiast with a family of four beloved dogs of her own which provide the inspiration for this site. To learn more about how to care for your own beloved dog – visit her at http://www.simply-dog-care-and-more.com

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