Championships bring tax revenue
Close to $1 million in tax revenue – an increase from last year of nearly 20 percent – flowed into Spokane County in January when the city hosted the 2007 State Farm U.S. Figure Skating Championships, according to figures released by the Spokane Public Facilities District.
“This clearly demonstrates the economic impact of the figure skating championships on Spokane. This is dollars to the bottom line,” said Kevin Twohig, the district’s executive director.
The district manages both buildings in which the competitions were held.
A closer look at the numbers, year over year, shows:
“Sales and use tax jumped nearly 19 percent, to almost $600,000.
“Hotel/motel tax collections went up about 44 percent, to just more than $144,000.
“A tax rebate that helps support the Convention Center’s expansion rose nearly 12 percent, to generate almost $188,000.
Santiago, Chile
Copper prices above projections
Copper prices will remain above projected long-term prices for several more quarters as suppliers struggle to keep up with Asian demand for the red metal, the chief executive of Chile state copper giant Corporacion Nacional del Cobre said Tuesday.
“Long-term prices aren’t going to be at current levels, but the current market situation will accompany us over the next few quarters,” said Codelco Chief Executive Jose Pablo Arellano to foreign reporters at a briefing.
Washington
Bad writing costs U.S. $100 million
Poorly written Justice Department documents cost the federal government more than $100 million in what was supposed to have been the crowning moment of the biggest tax prosecution ever.
Walter Anderson, the telecommunications entrepreneur who admitted hiding hundreds of millions of dollars from the IRS and District of Columbia tax collectors, was sentenced Tuesday to nine years in prison and ordered to repay about $23 million to the city.
But U.S. District Judge Paul Friedman said he couldn’t order Anderson to repay the federal government $100 million to $175 million because the Justice Department’s binding plea agreement with Anderson listed the wrong statute.