U.S. likely will double exports by 2014, Obama says | Analysis: There's still no proof tax cuts boost growth | Restatements for large-cap companies continue to rise
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March 13, 2013
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Business Finance Today
U.S. likely will double exports by 2014, Obama says
President Barack Obama told his advisory council on exports that the U.S. is "well on our way" toward achieving his goal of doubling America's exports by the end of 2014. He said the best way to boost exports is to press ahead with efforts to negotiate free-trade agreements with Europe and Asia. Obama said European nations are "hungrier for a deal than they have been in the past." Bloomberg (3/12), Market News International (3/12), The White House Blog (3/12), MercoPress (Uruguay) (3/13)
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Analysis: There's still no proof tax cuts boost growth
The argument that reducing taxes increases economic growth dates back to the 1980s, but economists haven't found evidence to prove that it is true, Eduardo Porter writes. Comparing the U.S. with countries with a higher tax burden doesn't clarify the picture. During the past 40 years, the U.S. grew a little faster than Australia and France but a little slower than Austria, Germany and the Netherlands, Porter writes. The New York Times (tiered subscription model) (3/12)
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Your Bottom Line
Restatements for large-cap companies continue to rise
Restatements across all public companies fell to 768 in 2012, from 820 the year before, according to Audit Analytics. However, for companies with at least $75 million in market capitalization, restatements increased to 245 in 2012, from 202 in 2011 and 158 in 2010. Compliance Week/Accounting & Auditing blog (3/12)
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IRS moves that warrant companies' attention
The Internal Revenue Service has issued notices in recent weeks that affect employers' tax obligations. The notices include an expansion of the Voluntary Worker Classification Settlement Program and an extension of the time employers have to file Form 8850. Business Finance (3/12)
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In the C-Suite
How CEOs build winning teams
CEOs need great teams if they want great companies, which means holding new hires to a high standard from the start, writes venture capitalist Ben Horowitz. It's vital to make it clear to executives that performance evaluations will be based on new criteria as the organization grows, he adds. Ben Horowitz blog (3/4)
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Manage time for success
The best executives know how to organize their time into large chunks so they can make progress on big projects, Eric Barker writes, citing a book by management expert Pete Drucker. "If you're just doing what comes in, you're on the treadmill, not making a difference," Barker writes. Barking Up The Wrong Tree blog (3/7)
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SmartPulse
A recent $1.3 million penalty of a company for noncompliance with labor law begs the question: Who is responsible for human resources in your organization? 
VoteHR is a separate function, with a seat at the table
VoteHR reports directly to the CFO
VoteHR indirectly reports to the CFO
VoteWe are in the process of changing HR reporting
On the Move
Alison Dean becomes CFO at iRobot
Dean is an eight-year company veteran who most recently was principal accounting officer. The Motley Fool (3/12)
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Off the Charts
"Argo" producers might be sued by Iran
"Argo" may have won the Oscar for best picture, but the Iranian government reportedly is considering suing its producers. The reason? The movie offers an "unrealistic portrayal" of the nation during the hostage crisis in 1979. Yahoo/Movie Talk blog (3/12)
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SmartQuote
Don't focus on the work in front of you, focus on results."
-- Eric Barker, writing for Barking Up the Wrong Tree
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