| » Publisher's Corner |
Tax exiles, dodgers and abusers beware!
Before I sat down to write this month's column for TPAtlanta, I wrote out my annual checks to the IRS and to the Georgia Income Tax Division. While completing tax returns and paying taxes can seem like a burden, in many ways it is also a privilege. There is indeed a sense of privilege and patriotism involved in this annual exercise.
I also feel a great sense of pride when I have completed these tasks, as well as a feeling of personal accomplishment when my refunds or payments due are within a few hundred dollars of the required total.
Unfortunately, there are others who take this gamesmanship over taxes to the extreme!
Regular readers of TPAtlanta will recall that we spent some time in this space during 2006 discussing money laundering, tax evasion schemes, and the impact of such malfeasance on our industry and the economies of countries that were less than diligent in their fiduciary oversight.
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Calvin D. Johnson, Publisher
publisher@tpatlanta.com
Trans Atlantic Systems, Inc.
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| » People |
Visa Names New CEOVisa on May 15th named Mr. Saunders, 61, as the first chief executive and chairman of what will eventually be known as Visa Inc. when it goes public early next year. Saunders, a former high-ranking executive at a number of large credit-card issuers, is best known for overseeing a big turnaround at Providian Financial Corp. about five years ago.
Mr. Saunders will be taking the post at a time of enormous change in the payments industry. Not only are consumers and businesses increasingly using credit and debit cards instead of traditional cash and checks, but the industry is also trying to pump up transaction volume by finding new ways to pay -- from making payments on a cellular telephone to speeding through a check-out line by waving a card at an electronic reader.
"Visa isn't a broken company, but we have to focus on how the industry is changing and what we need to do to remain at the forefront of that change," Mr. Saunders said.
Visa International rang up $4.6 trillion in transactions last year, up 14% from 2005. By comparison, MasterCard Inc. booked about $2 trillion.
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» Profile |
Q & A With Gregory Morrison, CIO, Cox Enterprises
1.Your Manheim Auction is the stock exchange of the automobile business. Have your online auction sales continued to grow as anticipated?
Cox entered the auto auction business in 1968 by purchasing its namesake company, the Manheim Auto Auction, in Manheim, PA. With 135 worldwide locations Manheim is now the world's leading provider of automotive services to commercial sellers and automobile dealers. In addition to auction, Manheim offers a full array of services, including reconditioning, certification, title management, managed remarketing, repossession, end-of-lease-term management, retail inspection, and vehicle transportation. We have also had great success with AutoTrader.com. ATC is the Internet's leading auto classifieds marketplace and consumer information website. They have more than 3 million vehicle listings and attract over 12 million qualified buyers each month.
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» Feature Story |
MasterCard, TRX to Develop a Proprietary Travel Dashboard
MasterCard Worldwide and TRX have announced an agreement to develop the MasterCard Travel Dashboard, a web-based business intelligence tool that will enable companies to evaluate, analyze and optimize travel programs. According to the companies, "the proprietary tool will leverage detailed information from MasterCard's corporate card program and TRX's advanced travel data reporting tools to provide greater visibility into the performance and compliance of travel programs."
According to a joint survey conducted by the Association of Corporate Travel Executives (ACTE) and TRX, more than 50% of corporate travel managers feel they do not have appropriate technology to complete certain functions of their travel management responsibilities.
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| » Earlier this month |
FleetCor Completes New $350m Credit Facility
FleetCor, The Global Fleet Card Company, announced today that it has successfully completed a re-financing of its existing credit facility with a new $350 million credit facility arranged by JP Morgan Chase Bank.
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InComm expands to Australia and New Zealand
Consumers in Australia and New Zealand will soon be able to enjoy enhanced products and services and vastly improved purchase experiences as InComm, North America's leading provider of stored-value gift and prepaid products, is extending its product and technology solutions to the Australian and New Zealand marketplaces.
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NetBank Saga
With its stock rapidly deteriorating, NetBank has been methodically shedding divisions.Once a high flying stock that hit a high of more than $60 per share, split-adjusted, back in the heady 1990s NetBank used the Internet to provide banking services. But with internet banking now a commodity and available everywhere NetBank was hard-put to compete.
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| » Industry News |
Global Payments Announces Third Quarter Dividend
Global Payments Inc. (NYSE: GPN), a leader in electronic transaction payment processing, announced today that its board of directors approved a third quarter dividend of $0.02 per common share payable May 31, 2007 to shareholders of record as of May 17, 2007.
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ICE Announces June 15 Launch of Electronic NYBOT U.S. Dollar Index and Russell 1000(R) Futures Contracts
IntercontinentalExchange, the Atlanta based leading electronic energy marketplace and soft commodity exchange, announced that electronic trading in key index futures contracts offered by the New York Board of Trade (NYBOT) will begin on Friday, June 15, 2007.
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ESC Loyalty Now TSYS Loyalty
Enhancement Services CorporationSM (ESC LoyaltySM), the loyalty services company of TSYS®, has re-branded the company as TSYS Loyalty.
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U.S. Online Banking Outpacing Other Channels
The adoption of online banking by U.S consumers is outpacing growth rates for every other retail banking delivery channel, including ATMs and call centers, TowerGroup says.
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