“Disposable” plastic bags have become a ubiquitous element of retail shopping over the past several decades, with most consumers barely thinking about the volume or impact of their use and disposal. Thin plastic bags have become so inexpensive, that virtually all retail businesses offer them free of charge – at least where they are still permitted to do so.
Over the past decade, governments around the world have moved towards requiring businesses to participate in pollution-reduction efforts. » Read More
Part II: Legal Structure and Requirements
As discussed in Part I of this series, business owners are increasingly choosing to pursue the B-corporation form to combine their companies’ for-profit and public benefit purposes. B Lab, the independent non-profit that certifies B-corporations’ social and environmental benefits, recently reported increased instances of B-corporations forming outside the United States, and the B-corporation form may also help attract investors from around the world. » Read More
Part I: Background
In 2006, Yvon Chouinard, the founder of sportswear giant Patagonia, published a corporate memoir that would equally inspire board members in three-piece suits and surfers in wetsuits. Let My People Go Surfing: The Education of a Reluctant Businessman attempts to reshape the way we think about business, and Chouinard leads by example. He writes, “Who are businesses really responsible to? » Read More
Fed Chair Janet Yellen announced this afternoon the much anticipated increase in its benchmark interest rate from zero to 0.25%. While many of the US economic sectors have improved, the Fed has been concerned about the low inflation rate. Notwithstanding that concern, the Fed unanimously agreed to the rate hike, noting in its policy statement that “the Committee judges that there has been considerable improvement in labor market conditions this year, and it is reasonably confident that inflation will rise over the medium term to its 2 percent objective.”
The increase in the Fed’s benchmark rate ends its quantitative easing program that has been going on for the better part of a decade.» Read More
2016 will require CFOs to address changes in accounting standards both in the US and for companies engaged in international commerce. The rules regarding Revenue Recognition, Lease Accounting, Insurance Contracts and Corporate Tax are on tap for CFOs to address in 2016 and 2017.
With respect to Revenue Recognition, the Wall Street Journal reported on Tuesday, December 7 that “CFOs received some breathing room when the Financial Accounting Standards Board disclosed it would allow companies to wait until 2018—instead of 2017—to adopt rules governing how they account for deferred revenue from everything from cellphone contracts to car sales to software.» Read More