Court Case Reveals Alice Walton’s Contributions to Crystal Bridges

NEW YORK (CNNMoney.com)—As things in the economy have gotten worse, the number of people and businesses heading to bankruptcy court has spiked.

Bankruptcy filings surged 29% in the 12 months that ended June 30, according to government figures released Wednesday.

Total filings rose to 967,831 from 751,056 a year earlier.

Business filings jumped more than 41% to 33,822 from 23,889 in the year-ago period. Personal filings totaled 934,009, up 28% from last year.

“As we continue to hear more bad economic news, we will continue to see bankruptcies spiral upwards,” said Jack Williams, resident scholar at the American Bankruptcy Institute.

The bankruptcy group expects filings to reach 1.2 million this year, as problems in the housing market have “reverberated throughout the economy,” he added.

The data also showed that filings for Chapter 7 rose 36% to 615,748 in the 12 months that ended June 30.

Chapter 7 bankruptcy is designed to give individual debtors a “fresh start” by discharging many of their debts. Under Chapter 7 a filer’s assets minus those exempted by his home state are liquidated and given to creditors first in line for repayment, while the rest of his debts are cancelled.

Another type of individual bankruptcy - Chapter 13 - requires debtors to pay back their debts over time. Total Chapter 13 filings rose 17% to 344,421 from 294,693 a year earlier.

Filings for Chapter 11 bankruptcy, which is aimed at assisting struggling corporations or partnerships, rose more than 30% to 7,293.

Wow, a person uses their money to build an art museum and somehow that is ‘evil’ and that money should have been given as raises to Wal-Mart employees!!  Wonder if Warren Buffett or Bill Gates, was using their money to build an art museum, if there would be an outcry by the unions, for them to give their money to Berkshire’s or Microsoft’s employees!!  After all, didn’t they too, make their money off the sweat of workers?

Besides, I think the IRS, might have a problem with stockholders giving their personal money directly to a corporation’s workers as raises!!

“the Walton family made $29 billion off the increase in Wal-Mart’s stock price.”

What does that have to do with anything, apparently that means the stock price has gone UP, so ALL of Wal-Mart’s stockholders made money!!  Should ALL of the stockholders give raises to Wal-Mart’s employees too? 

Another clear attempt at ‘class warfare’!!

Geoffrey Joffrey’s Palace

(please forgive me - I’m writing and typing it as i go; and no luxury the pencil).

Mrs. Hilton - “You girls call me later.”.

Nicki was holding the door;

She took at her phone and glanced back; (3 feet to go); checked her speed dial (number 1);

And pressed.

She loved Los Angeles; walking into the sunshine;

She looked to her left; the police car was still there;

But she stopped.

She saw the cop leaning against the car; rubbing his eyes underneath his sunglasses.  He was kinda slumping ........

“Yeah - but have seen this?”.

She looked over.

It was this ten year-old Chineese boy;

He kinda bent his knees - his arms straight out; with fists.

And then he started rotating his arms.

She’d lived in Los Angeles a long-time - seeing alot of things; so she ignored and looked at her phone.  Her new driver held the door open; and she spoke to the cop;

She gave him the thumbs-up; all is well - “thanks.”.

The cop saw it;

And so did Chow Lee.

Chow Lee’s eyes lit up;

He turned slightly - he had a new audience; but didn’t want to lose his old-one; Mrs. Hilton kinda smiled; and then he really started gyrating.

Yet she smiled before she got in the car.

The new driver closed the door; and got in.

She rested her elbow on the arm-rest; and asked him.

“Do you have any children?”.

..

“Not yet maam.”.

..

“Well don’t.”.

..

She was rubbing her eyes now ...............

What’s up with that freakin Chineese Kid?”.

..............

Ah, he . ..............

:).

Now I’m going to write a commercial.

Three Characters - The Walmart Debit Card.

“It’s loadable;

It’s a savings account -

..............

Use it Wherever You Go!.”.;

And then a voice; kinda like the movie guy;

“The Walmart Debit Card -

............

Apply Now and We’ll Add $20 to your $100 Balance.”.

............

And then the ending of Bill O’Reilly’s Old Program comes on;

..............

The ending to “Inside Edition;”.

:).

Monday, May 23, 2005

Washington, D.C., May 23, 2005 – Today, one of the world’s wealthiest women, Wal-Mart heiress Alice Walton, unveiled plans for the new Walton museum Crystal Bridges.  The Bentonville, Arkansas museum will display Walton’s newly purchased painting “Kindred Spirits” by Asher B. Durand, which she bought for a record $35 million.  But amid growing concerns about Wal-Mart’s corporate ethics lurks a question about how, yet again, the Walton family may be using their jaw-dropping wealth to arrange sweetheart deals that benefit them and leave out others.  Wal-Mart Watch today calls upon Alice Walton to admit if she used a new Arkansas bill to avoid paying the requisite 6 percent sales tax for her acquisition, leaving Arkansans to lose out on the revenue.

The Background Behind Alice Walton’s Possible Multi-Million Dollar Sweetheart Deal

New Walton Painting Could Generate $3 Million in State and Local Taxes. According to the Arkansas Times, the $35 million spent by Alice Walton to purchase “Kindred Spirits” by Asher Durand could generate state and local sales tax of some $3 million.  And the New York State Department of Taxation & Finance reports that, REGARDLESS of the location of the purchase, the state where an owner takes physical possession of a painting – in this case, presumably Arkansas – is the STATE in which the SALES TAX WOULD apply.  [Arkansas Times, 5/19/05; New York State Department of Taxation & Finance, phone report, 5/23/05]

WITHOUT Special Exemption, State Law MANDATES Sales Tax on Art. Tim Leathers, the Arkansas revenue commissioner, said ALL the state’s museums, like other nonprofits, are subject to sales tax on items they purchase.  Even if they buy them in a state that exempts art from sales tax, they STILL have to pay the tax in Arkansas, he said.  [Arkansas Democrat-Gazette, 3/16/05]
BUT New Arkansas Legislation Exempts Walton Museum from Sales Tax. “An ACT passed this year by the Arkansas Legislature helped solidify plans for the new Walton museum. Arkansas Act 1865, sponsored by Rep. Horace Hardwick, R-Bentonville, provides SALES AND USE TAX EXEMPTIONS to nonprofit museums for the building construction and art purchases. To qualify, the museum MUST open to the public before Jan. 1, 2013, cost more than $30 million to build and house more than $100 million worth of art.” The Walton Foundation museum is scheduled to open May 2009. [Arkansas Democrat-Gazette, 5/20/05]
Walton Family Widely Considered To Be Behind Exemption Legislation. Alice Walton and the Foundation LOBBIED for passage of a BILL that EXEMPTS the Foundation from having to pay Arkansas’ 6 percent sales tax on the acquisition or sale of artwork. [Bill sponsor Rep. Horace] Hardwick wouldn’t identify the nonprofit organization mentioned in the bill, but sources who requested anonymity told the Northwest Arkansas Business Journal that it’s the Walton Foundation and that Alice Walton, daughter of Wal-Mart founder Sam Walton, was behind the museum plan.  [Arkansas Business, 5/19/05; 3/14/05]
Special Treatment: Little Rock Arts Center Not Eligible for Walton Exemption. “The [sales tax exemption] law didn’t exempt the Walton museum by name, but was written in such a way to apply to it and no other.” For example, the Arkansas Arts Center in Little Rock has to PAY sales tax on its acquisitions, and is NOT eligible for the exemption, because the legislation passed this year it only applies to museums opened between Jan. 1, 2005, and Jan. 1, 2013. [Arkansas Times, 5/19/05; Arkansas Business, 3/14/05]
Tax Law Secrecy Masks Tax Payments, But Waltons Could Choose to Disclose. The Arkansas Times reported, “Because of tax law secrecy, it’s likely Arkansans WILL NEVER KNOW IF [Alice Walton’s $35M purchase of the Durand] painting was taxed or even if an effort was made to collect the tax. The Waltons could say if they chose.” [Arkansas Times, 5/19/05, emphasis added] ~~~~~~~~WMW~~~~

The Fisk brief reveals that $138 million of the museum’s $488 million in assets are “liquid.” The information was attributed to an undated deposition from Workman.

Beyond the Walton funding, it’s unclear where the remaining $171 million in assets originated.

Workman declined to elaborate on the deposition last week.

“At this time, we are not sharing our project costs or any details about project assets,” Workman wrote in an e-mail. “Crystal Bridges is a gift to the community from Alice Walton and the Walton family. The focus is on what we are creating, not what it is costing.” ~Arkansas Democrat Gazette~~~~Note: Since when is cost not THE object to a Walton?  Maybe when the citizens of Arkanas are picking up the tax tab,courtesy of specially tailored legislation to provide tax exemption for the construction of ,aaand art acquisitions for, the Crystal Bridges Museum.

And a few words about the income of NW Arkansans:~~~~~~~~~According to data released by the U.S. Census Bureau today, Northwest Arkansas had a median household income of $44,552 in 2007, below the national median of $48,934, even with a whole nest of billionaires in Benton County and assorted NWA multi-millionaires to pump up the averages.

At the same time, Northwest Arkansas’ poverty rate was 15.2% or about 64,000 people living below the poverty level. That is above the state’s rate of 15.1% and the national poverty rate of 12.1%.

The data also show 17.5% of Arkansawyers don’t have health care coverage, well above the national average is 15.4%.

Why do you think that is?

Another news story today brought home the growing income disparity in our state. The Arkansas Department of Higher Education released revised figures yesterday ranking the salaries of higher education administrators. Here’s the latest list:

1. UA System President, $538,722
2. UA Medical Sciences Chancellor, $530,786
3. University of Central Arkansas President, $508,540
4. Arkansas State University System President, $464,980
5. UA Fayetteville Chancellor, $363,446

A single mom, with two kids, working as a Data Entry Specialist makes $16,283, which is below the federal poverty line. Minimum wage workers make even less, $13,208.

What are the Chamber of Cowbirds and the Fayetteville Economic Development Council doing to create jobs that pay a living wage? What will the Mayor’s $150,000 consultant’s report do to help working families? Probably not much, because low wage workers and unemployed residents are not among the “stakeholders” they will be interviewing. They will be talking to the Northwest Arkansas Council of Corporations and Wealthy Business Executives. The Arkansas Advocates for Children and Families offers five good suggestions that the state legislature could adopt to make a difference, but tax and appropriation bills require a 3/4 vote to pass. None of them will pass, because the Chamber and the Farm Bureau will oppose them, and the Republicans will not vote for them.” The Iconoclast"~~~~~~~~Gee, that’s funny,they passed a legislation to exempt taxes for Alice’s Crystal Bridges museum. But just how will that museum help people save money and live better?

Mrs. Hilton had driven away;

The cop said goodbye to Chow Lee;

Paris had set-up her next appointment with Geoffrey.

..........

Chow Lee went to say hello to his friend Geoffrey;

Nick and Paris were just walking out the door;

With a pink dog; gold chain; gold teeth; happy and clueless.

Chow Lee just about got to the door;

And stopped dead in his tracks;

Dumfounded - jaw opened.

..................

“What The Hell Is That?”.

..................

Paris was beaming -

......................

“Kid - That’s Nibblets.”.

The end.

:).

Thank you for your’ patience.

Wow, a person uses their money to build an art museum and somehow that is ‘evil’ and that money should have been given as raises to Wal-Mart employees!!

In other words, let them eat cake!

Thank you for your’ patience.

Sorry, Anonymous, but my patience ran out long ago. Your scroll-wheel poetry takes up too much white.

There is more to life than “cheap underwear“. ~ The Peninsula Neighborhood Association

Anonymous in usa.com is just an arm of Wal-mart union busting team, trying to pretend there is spam on this website.

big goddam deal ken who cares about this shit anyway?picking at straws wmw and more bs on here as usual

Wal*Mart is Selling Toxic toys and Deadly Bassinets…
Keep Laughing Alice…
Take a cue from Warren Buffit and give all your money away. I’m sure Onward Christian Soldiers would concur. Right OCS?

BTW: The Republican Convention next week will be sponsored ,in great part, by EXXON-MOBIL. Who’d uh thunk it?

Doesn’t Don Imus remind you of the Crypt Keeper in a cowboy hat? He and John McSame are a matched pair of creaky relics.

What a drag it is getting old! ~ Mick Jagger

Ken V; Is that why I always think of fossil fuels when I look at these two old Repub fossils? If you want the trifecta of tombtenders, FYIl,lots of bloggers refer to Cindy as being reminiscent of the Cryptkeeper,too.

If You’re Talking “Tombtenders” Here...

I nominate Rush Limbaugh.  That fat, little, drug-crazed, talking head had the nerve to make the remark that if you take away Barack Obama’s teleprompter, he’d be nothing.

Take away Limbaugh’s microphone and he’s just another fat, little, drug-crazed, Republican Right Wing Nut.

Be careful - the dreams - the predictions.

“ ..........

So these three storms; central in the gulf - become 1.”.

One storm - deciding -

Yet the patter is full - from the Western Coast (Africa);

...............

So they sit - so they linger -

Gathering strength -

With noplace to go -

................

?.

“And once; only;

I saw his grave.”.

My father ... a union man;

And his father.

Both died.

And I prayed them (for even today - still - i a m poor).

With words deeds and paper.

What left to prove - Sir.?.

That’s a simple question;

For I have loved - and been loved.

I thought god a great man;

knowing everything -

When invented -

Both man and woman.

Will you sell your’ horse .......................

So I can fade away.

I shit you not.

This one’s for you Ken - Ken from Texas.

It’s “Desert Storm.”. 

A western.

...............

He had a 10 gallon (pay close attention Ken); bought and paid for.

...............

He pretended alot things; dreamed alot.

..............

He took his 10 gallon hat;

His newbought horse;

..................

And discovered ................

Suddenly ....

Life was the dream.

..................

Read it ten times .............

It’s a compliment.

“You hold em;

(I was young);

He handed me wrench -

He was on his way -

A union man.

To Indianopolis.

He was tired -

I was young.

That’s the last time i saw my father;

A union man;

before he died;

In indianoplis.

:).

Forgive me - i was only 2.

And second;

Again this simple question;

For lightning and thunder -

All around me.

(you think i’m kidiing);

..........

:).

..................

Wanna trade paychecks.

For suddenly the thunder has stopped.

Only lightning now.

...................

I shit you not -

You in the eye of the hurricane.

(no father - ............ why);

You better go outside your house;

Smoke a cigarrette if inclined.

.....................

.........................

Anonymous in usa.com
Horrible, yet compelling.
Like a bad accident between a car full of kids and a Wal*Mart Semi. The line of cars rubbernecking. Nobody stopping to see if they can help because they are all running late for something important. You want to look away but can’t, and there doesn’t seem to be an off switch. It must be here someplace*

* brought to you by the letter “Bb” so sue me!

Take a close look at the pic of Alice Walton and then take a look at this:

http://thewizardofoz.warnerbros.com/movie/img/photos/photo5.jpg

“I’ll get you, my little pretty ............. and your little dog too!”

Harness the infinite power of coincidence. Deepak Chopra