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NJ: Uber Owes $650M In Taxes After Misclassifying Drivers

PYMNTS

New Jersey’s Department of Labor and Workforce Development claims that Uber owes the state around $650 million in unemployment and disability insurance taxes because it has been wrongly classifying its drivers as independent contractors.

Taxes 142
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Lockdowns Drive Lower Revenues For ATM Owner Cardtronics

PYMNTS

The company’s adjusted earnings before interest, taxes, depreciation and amortization of $63.7 D-NJ), the measure would maintain cash as a valid method of payment nationwide, going against some places phasing it out as a source of payment. Cardtronics reported GAAP net income of $5.8 million, or $0.13 million, or $0.09 Payne Jr. (D-NJ),

ATM 131
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Credit Issues Stalk Malls And Anchor Tenants

PYMNTS

Writing in NJ Biz, Linfante points to the mall anchors and other tenants that have already closed, expressed financial concerns or filed for bankruptcy that will lead to significant challenges will be faced by regional malls. This creates an exciting opportunity for the communities that surround these properties.”. The tale of woe (or whoa!)

NJ 132
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Bank M&A: The Concept of Relative Valuation

Jeff For Banks

Deal 2: 1st Constitution Bancorp (Nasdaq: FCCY) of Cranbury, NJ buying Rumson-Fair Haven Bank and Trust (OTCQB: RFHB) of Rumson, NJ. Deal 1: FNB Corporation (NYSE: FNB) of Hermitage, PA, buying BCSB Bancorp (Nasdaq: BCSB). According to the table, BCSB received a higher valuation.

NJ 89
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The Law of Large Numbers for Banks and Credit Unions

Jeff For Banks

One such bank that consistently stunned competitors and analysts with hefty growth was the former Commerce Bank of Cherry Hill, NJ. If the answer relates to taxes, I’m not sure you’re getting my point. We have many clients that haven’t achieved that total loan size in their 100 year history. Some banks have done it.

NJ 89
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Too Much on the Dollar Menu?

Jeff For Banks

I recently spoke at a NJ Bankers Association event about the things I learned this recession (see blog post regarding subject). Of the nine product groups, banks only had one that delivered a greater than 1% pre-tax return on product portfolio, and thrifts had two (the snapshot was for 3rd quarter, 2009).

NJ 60
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Banker Quotes: As Told To Me v5

Jeff For Banks

It took US Bank two years to evict Kiss'' Ace Frehley from his house after he stopped making payments and paying taxes. NJ Bank Exec: We have a handful of shore loans where we not only can''t find the building, we can''t find the land. Bank CEO: We''re feeling some [economic] recovery but why does it have to be so painfully slow?

NJ 86