Market regulator allows mutual funds to short sell : India Business

Mumbai, November 19- Market regulator Securities and Exchange Board of Republic Of India (SEBI) have allowed common monetary fund participants to short sell.Short merchandising is a manner to net income from the diminution in terms of a stock. To net income from the stock terms going down, short Sellers can borrow a stock and sell it, expecting that it will diminish in value so that they can purchase it back at a less terms and maintain the difference.SEBI also reduced the disbursals charged to investors by Index Fund Schemes (IFSs). IFSs are those common monetary monetary fund strategies that set in securities in the same proportionality as an index of pillory such as as Nifty.Mutual fund participants are allowed to short sell, provided that in lawsuit of an IFS, the investing and consultative fees to investors shall not transcend O.75 percentage of the weekly norm of nett assets.Additionally, the sum disbursals of the strategy including investing and consultative fees should not transcend 1.5 percentage of the weekly norm of nett assets.However, these amendments would take consequence on a future day of the month to be notified by SEBI.It volition be after the new model for short merchandising of securities and securities' loaning and adoption is put into place.(c) Indo-Asian News Service

Motorcycle rally tax revenue down slightly from '06 - Rapid City Journal

Spending at the 2007 Sturgis bike mass meeting was much better than earlier describes indicated, with less than a 1 percentage driblet in gross sales and touristry taxation grosses from the twelvemonth before, a concluding state study shows.

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Sales-tax gross also were down for the Central States Carnival but up significantly at the South Dakota State Fair.For the rally, a preliminary study in late August from the state Department of Gross and Regulation indicated gross sales and touristry taxation gross from impermanent sellers had dropped 15 percentage during this year's Sturgis mass meeting from the 2006 rally.But the department's concluding study Thursday showed less than a 1 percentage driblet in overall mass meeting taxation revenues, with a 21 percentage addition in the Southern Hills nearly offsetting a 4 percentage driblet in Sturgis and elsewhere in the Northern Hills.The Gross Department doesn't screen out sales-tax gross from constituted concerns during the rally.In the Northern Hills (which includes Sturgis and all other communities within James Edward Meade and Lawrence counties), taxation aggregations totaled $1,007,154.50, down from $1,047,041.01 in 2006. Of the amount collected this year, $592,666.40 was state gross gross sales tax, $256,967.28 was municipal sales tax, $9,636.07 was municipal gross gross tax, and $147,884.76 was state touristry tax. Gross seller gross sales in the Northern Hills country for the 2007 Rally totaled $14,814,278.94.The Southern Hills (including Rapid City, Custer, Hill City, Keystone and Pennington County) posted seller sales-tax grosses totaling $202,391.75. Of that amount, $116,244.10 was state gross gross sales tax, $56,039.62 was municipal sales tax, $1,155.01 was municipal gross gross tax, and $28,953.02 was state touristry tax. Gross seller gross sales in the Southern Hills from the 2007 Sturgis bike Rally totaled $2,906,102.46.Rally have spreadPepper Massey, manager of the Sturgis metropolis mass meeting department, said the sales-tax gross Numbers bespeak how the mass meeting have shifted, spreading to other parts of the Black Hills.She said the figs also demo the mass meeting did relatively well, considering economical factors. "With what's going on in the state with the economic system and the warfare and housing, it's pretty astonishing that we did so well," Massey said Friday.Massey said the mass meeting is estimating a crowd of 500,000, up from the 2006 estimation of 457,000 but still down from the 60th day of remembrance in 2000, with an estimated 633,000, and the 65th mass meeting in 2005, with an estimated 525,000.Those estimations are based on sales-tax revenue, state traffic counts, Saddle Horse Mount Rushmore National Memorial counts, seller licences and garbage, Massey said.The state Department of Transportation's pneumatic traffic counters at all of the chief roadstead into Sturgis showed a 2.7 percentage addition in traffic over 2006.Garbage hauled in Sturgis was also up, 615.9 dozens this year, compared with 584 dozens in 2006. During the 65th mass meeting in 2005, rallygoers created 795 dozens of garbage.Visitation Numbers from Saddle Horse Mount Rushmore were not available.The state-supported issues impermanent vendors' licences during the mass meeting to any concern that sets up away from its lasting location, according to January Talley, manager of the department's Business Tax Division. So, if a Rapid City concern sets up at Black Hills Harley-Davidson, for example, it must have got a impermanent seller license, she said.Black Hills Harley, for the first time, posted people to physically number visitants at its entranceway for three of the busiest years of the rally, according to Aluminum Rieman, managing spouse of the franchise off Interstate 90's Exit 55. Using that caput count, along with gross sales sums for those three days, Black Hills Harley estimations that more than than 107,000 people stopped at the franchise during this year's rally, Rieman said. That is a bigger crowd than most Sturgis bike mass meeting attending figs from the late 1980s.Another major event in the Black Hills, the Central States Carnival in Rapid City, showed a driblet in sales-tax grosses of 1.69 percentage from 2006, according to the Gross Department report. Sum taxation of $38,412 was collected from impermanent sellers during the Central States Fair.Final taxation grosses from the South Dakota State Carnival in Lake Huron totaled $75,391, up 33.3 percentage from 2006.At the Siouan Empire Carnival in Siouan Falls, the $27,199 in taxation gross was down 22.2 percentage from 2006.Contact Steve Glenn Miller at 394-8417 or steve.miller@rapidcityjournal.com

AAR paves way for cap gains tax on Vodafone

MUMBAI: In a determination that may boost
the income-tax department’s opportunities of bringing the $11.1-billion deal
between Hutchison International and Vodafone into the taxation net, the Authority for
Advance Rulings (AAR) have held in a similar lawsuit that dealing of Indian
shares between two foreign physical things is apt for working capital additions taxation in the
country. Aare is a quasi-judicial authority deciding on tax
disputes. AAR’s opinion on Friday refers to dealing of shares
in the Hyderabad-based Three Corporation. In this case, the purchaser and seller
of Three shares were both United States entities. Aare ruled that the purchaser of the shares
will be taken as an 'agent’ under Section 163 of the Income-Tax Act. It
also ruled that the burden of TDS is also on the purchaser under Section 195 of the
Act. In other words, Aare ruled that the purchaser of the shares is
liable to pay working capital additions taxation on the transportation of shares of an Indian company
even if the dealing is offshore and between two non-residents. The decision,
though binding lone on the lawsuit that came up before it, have persuasive value on
similar cases. Non-residents are charged long-term capital additions at the charge per unit of
20% for off-market transactions. Aare have upheld the I-T department’s stand
on the land that since the working capital additions are generated in India, they are
liable to be taxed here. In the lawsuit of the Hutch-Vodafone deal, a
showcause notice have been served on Vodafone Essar, asking why the company
should not be treated as an agent of Vodafone under the I-T Act. After this,
Vodafone Essar had moved the Greater Bombay High Court for quashing the notice. In the
case of Hutchison, the company took a base that since the transportation of shares
had taken topographic point outside Republic Of India between two non-residents, the Indian tax
authorities could not impose working capital additions tax. According to Vodafone
Essar, the shares were transferred directly from Hutchison International via CGP
Investment (Holdings), which is incorporated in the Cayman Islands, to Vodafone. Besides, the companies that control Hutchison Essar (HEL) are based in
Mauritius, which have a dual revenue enhancement turning away understanding (DTAA) with
India. The Greater Bombay High Court, which was hearing the lawsuit of Vodafone
International, had made a funny observation on this issue. The division Bench
comprising Justice FI Rebello and Justice Deodhar observed that the deal, as
claimed by Vodafone International, was not a simple lawsuit of transportation of shares
between two foreign companies. It pointed out that the sale of shares was with
the blessing of FIPB, which was subject to conformity with North American Indian laws and
regulations, including taxation laws. The high tribunal made this
observation during the hearing of the request filed by Vodafone International,
the Netherlands, against whom the I-T section sent a notice for its failure
to subtract taxation while making payment to Hutchison Telecom International, Hong
Kong, for acquiring 67% involvement in Vodafone Essar.

Forward Funds Eliminates Redemption Fees on All Mutual Funds

SAN FRANCISCO--(BUSINESS WIRE)--Forward Management, LLC, investing adviser to the Forward Funds, today
announced that they have got eliminated salvation fees for all share
social classes for all of the Forward Funds.

“The salvation fees were initially set in
topographic point to discourage marketplace timing, and we now experience the fees are no longer
necessary,” said J. Alan Reid, Jr., president
of Forward Management. “Eliminating the fees
is in keeping with our scheme of providing our stockholders value.”

Redemption fees were one of a figure of tools which were originally set
in topographic point to deter short-term or inordinate trading. After in progress
reappraisal of salvation fee policies, Forward determined they were
hard to administrate equitably.

Forward Funds will go on to supervise monetary fund activity on a day-to-day footing
for any kind of leery activity, and in lawsuits where there looks to
be inappropriate activity, stockholders may be requested to halt such as
trading activities or additional trades may be refused.

Forward Funds also just values each security in certain circumstances,
such as as when marketplace terms are not readily available. For non-U.S.
securities, just evaluation is intended to discourage marketplace timers who may
take advantage of clip zone differences between the stopping point of the foreign
marketplaces on which a Fund's portfolio securities trade and the U.S.
marketplaces that find the clip as of which the Fund's NAV is
calculated. Carnival valuing securities also is intended to protect Funds
that put in little cap securities, high output chemical bonds or other types of
investings that are not frequently traded and thus potentially more than
susceptible to marketplace timing.

About Forward Management, LLC

Forward Management, LLC, based in San Francisco, is the investing
adviser to the Forward Funds, a household of fourteen common funds. The
house also offers a scope of separately managed business relationships including REIT,
Equity Income and Micro Cap. Forward Management is an affiliate of
ReFlow Management Co., LLC, which developed ReFlow, an advanced
liquidness tool for portfolio directors that supplies enhanced public presentation
and taxation efficiency. ReFlow is used by the Forward Funds, as well as
other prima common monetary fund managers.

Forward Management offers institutional money managers, fiscal
advisers and individual investors entree to industry leading investing
managers, investing merchandises and services. The house specialises in
identifying sub-advisors World Health Organization have got long track records of managing assets
in specific investing subjects and plus classes. More information
on Forward Management and the Forward Funds can be establish at .

You should see the investment objectives, risks, complaints and
disbursals of the Forward Funds carefully before investing. A course catalog
with this and other information may be obtained by calling (800)
999-6809 or by downloading one from .
It should be read carefully before investing.

There are hazards involved with investing, including loss of principal. Past public presentation makes not vouch future results.

Forward Funds are distributed by Alps Distributors, Inc.

Small, mid-cap stocks are the new wealth creators

MUMBAI:
Ever heard of Energy Development Carbon Dioxide (EDC)? Not if you are not in measure with the
investments of Bollywood ace star Amitabh Bachchan and his brother Amar Singh. The couple clasp 10 hundred thousand and 2.5 hundred thousand shares of this small-cap company (by BSE
classification), according to the shareholding form filed as on September 30,
2007. This relatively unknown
company have been inch the thick of action, soaring nearly 200% in the past one
month. That do the investings of these personalities worth Rs 26.7 crore and
Rs 6.7 crore, respectively, on the footing of the current market
price. EDC is only one of the
several small- and medium-cap banals which have got provided mind-boggling returns
in a short period. A figure of SME pillory witnessed a smart mass meeting on Wednesday
when the BSE’s Smallcap index closed for the first clip above the 10k
level, ending with additions of 238 points, or 2.4%, astatine 10,039. The Midcap index jumped 172
points, or 2.1%, to 8,286. The two indices, in fact, have got outperformed the
broader indices, gaining 14% and 14.5%, respectively, against the Sensex’s
rise of 13.5% since October 19, 2007. Unlike in the past, the
interest in little pillory have been wider, which is also reflected in healthy
advance/decline ratio in B1, B2, S, Deoxythymidine Monophosphate and deoxythymidine monophosphates groupings which generally house small-
and medium-cap stocks. Out of 2,454 scrips traded in these groupings on Wednesday,
as many as 1,739 recorded additions while 663 lost ground, resulting in an
advance/decline ratio of 2.6
times. The sudden rush in
second-rung pillory may have got got brought some alleviation to little investors, but brokers
have a word of caution. In the absence of any major fund-based buying, they
suspect that the mass meeting in many pillory may have got been triggered by manipulation. Brokers state there be good
investment chances in small- and mid-cap space, which investors should
find out with the aid of proper research and penetration into the background of
concerned companies. “Most pillory have got rallied because of herd mentality. Investors, no doubt, are chasing good stories, but they are also falling quarry to
rumours and bad negotiation in the market,” said Karvy Stock Broking
vice-president Ambareesh Baliga. Of late, a batch of involvement is
observed in pillory of working capital commodity and public sector companies from other
sectors. The bovine spongiform encephalitis Capital Commodity and PSU indices jumped 574 points (2.8%) and 396
points (3.9%), respectively, on Wednesday. Capital commodity pillory have got emerged as
the greatest outperformers in the current market. Analysts impute their gains
to break industry prospects in the aftermath of the government’s greater
emphasis on accelerating infrastructure
growth. “Order book of
most working capital commodity companies is full, reflecting high-growth potentiality in the
next few years. PSU pillory have got been rising because the marketplace have begun to
factor in evaluation of excess assets possessed by them,” said Religare
Securities’ Kiran Vaidya caput (investment banking).

Panel: Raise local income taxes to offset property tax burden

By Virgin Mary Beth Schneider and Bill Ruthhart

A bipartizan legislative committee on Tuesday called for raising local income taxations to pay for place taxation relief, leading some local functionaries to fear the toughest political determinations are merely being shifted back to them.

Sen. Saint Luke Kenley, R-Noblesville, chairs the state Tax and Financing Policy Commission, whose suggestions were unanimous. - CHARLIE NYE / The Star

What's on the table Comparing Gov. Daniels' reform program and the state commission's proposals:Key concepts• DanielsCuts the norm homeowners' place taxation measure more than a third.Caps residential place taxations at 1 per centum of a home's assessed value, 2 percentage for rental places and 3 percentage for businesses.Increases the state gross gross sales taxation to 7 percentage from 6 percent.• CommissionCuts residential place taxations by 50 percentage and 25 percentage for rental properties.Calls for place taxation caps, but makes not stipulate what percentage of assessed value.Expands sales taxation to other services and/or additions it by less than 1 percent. Calls on counties to increase the local option income taxation to pay for place taxation relief.School impact• DanielsState takes over school operational support and transportation system system costs.New edifice undertakings subject to elector referendums.• CommissionState takes over operational funding, but not transportation costs.Schools would not be required to throw referendums on projects.Constitutionally speaking• DanielsPlaces specific place taxation caps into the state fundamental law for homes, rental places and businesses.• CommissionCalls for constitutional caps, but makes not stipulate amounts.

"A batch of county functionaries state that if (the state) desires to increase the income tax, then the state should just make it and not look for counties to make it," said Saint David Bottorff, executive manager director of the Association of Hoosier State Counties.

Bottorff said local functionaries are well aware that Capital Of Indiana Mayor Baronet Peterson was voted out of business office last hebdomad in portion because he pushed to raise local income taxes.This new plan, which the state Tax and Financing Policy Committee voted 5-0 to urge to the legislature, would cut homeowners' place taxation measures in one-half — and lease place and 2nd places by about 25 per centum — beginning with the place taxation measures owed in 2008.Under the plan, counties would be either mandated or given inducements to increase their local option income taxations by, in most cases, between 0.6 and 0.7.percentage points.In Marion County, the county's income taxation — currently 1.65 percentage — likely would necessitate to be raised by 0.8 to 0.9 percentage points in order to supply the 50-percent cut in place taxes.And to raise the $771 million needful to pay for the state assuming the cost of kid social welfare and schools' general funds, the committee recommended raising the state gross sales taxation by less than a penny and/or expanding it to services not covered by the tax. Sen. Saint Luke Kenley, the Noblesville Republican who is president of the commission, called the recommendations "a route map for the General Assembly."The committee said place taxations pay for local services and that local authorities should take some of the duty for those disbursals by raising income taxes.The commission's proposal travels additional than a program unveiled by Gov. Mitch Daniels in October. He called for cutting homeowners' place taxations by a third, paid for by a 1-percentage point addition in Indiana's 6 percentage gross sales tax.Other key differences: Daniels' program called for the riddance of all township and county tax assessors and for electors to O.K. of major edifice undertakings in a referendum; the committee called for retaining one elected county tax assessor who must ran into minimal educational standards, and for no referendums.Daniels praised the committee program in a statement released by his office. "It closely parallels my taxation alleviation program and back ups all of its cardinal principles," he said.Daniels' program and the commission's program phone call for the state fundamental law to be amended to crest place taxations to maintain them from rising again in the future.Daniels was specific, calling for homeowners' measures to be no more than than 1 percentage of their homes' assessed valuation, with rental place at 2 percentage and concerns at 3 percent. The committee was deliberately vague, saying that volition demand to be hammered out by the legislature."Some people privately were not certain it's a good thought to set (caps) into the constitution," Kenley said. Pat Kiely, president of the Hoosier State Manufacturers Association, said the commission's program "has some pretty large unreciprocated questions." Business, though, also have concerns about Daniels' proposal, particularly because business's place taxations are capped at a higher degree than homeowners'.The committee started meeting on a taxation program after a state-ordered reappraisal led to higher place taxation measures across the state. It heard 35 hours of public testimony over eight meetings. The proposal, said state Rep. Peggy Welch, D-Bloomington, showed: "We did hear. We did listen."

House halts tax hike, but Dems feud over how to cover shortfall

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(11-10) 04:00 Pacific Time American Capital --

House Democrats plunged Friday toward a hit between two of their most urgent political needs: to demo financial duty and to halt a immense taxation addition on 23 million middle- to upper-income taxpayers concentrated in Democratic fastnesses like the Bay Area.

The House narrowly passed, 216-193, an $80 billion measure that would hold for one twelvemonth the spreading of the option lower limit taxation - known as the AMT - along with other commissariat to assist low-income people and widen a research and development recognition for business.

Left alone, the option lower limit taxation could hit Bay Area families earning more than than $100,000 this year. That threshold could drop to about $75,000 or less depending on the figure of children in a household and the amount of the family's place taxes, mortgage involvement and other deductions.

Rep. Ellen Tauscher, D-Walnut Creek, said the taxation now hits 21,000 families in her 10th District, which covers parts of Contra Costa, Alameda, Solano and Capital Of California counties. Come April, 92,000 families could pay one thousands of dollars in higher taxations imposed by the option lower limit taxation if nil is done.

"We have got 23 million people at a class crossing thought there's no railroad train coming, and they're going to begin walking across in April and they're going to acquire whacked," Tauscher said.

That narrative is repeated in every Bay Area congressional district, where popular middle-class taxation deductions for such as things as high local and state taxations and dearly-won mortgages would be wiped out under a tax that United States Congress created in 1969 to nab 155 high-income people who had escaped income taxes. But United States Congress never indexed the option lower limit taxation for inflation, and it have hit greater and greater Numbers of taxpayers every year.

To stop up the bill's $80 billion in proposed lost revenue, House Democrats raised taxations on venture capitalists, hedgerow finances and other investing funds. Senate Democrats hatred the idea, setting up a clang even as clip is running out for holes to be made for the current year.

The trouble Democrats had in passing even a impermanent hole to the option lower limit taxation shows the much larger budget problems ahead when the Shrub disposal taxation cuts run out in 2010.

A full abrogation of the option lower limit taxation is estimated to be $800 billion. Extending the Shrub taxation cuts would open up a $3.5 trillion budget hole.

Democrats also have got discovered a new political demography: More and more than of their electors dwell in the upper ranges of the center class, concentrated along the seashores and in cities, while many Republican electors autumn into the lower-middle social class in the little metropolises and rural countries of the country's interior.

Democrats had to raise taxations on some people while lowering them on those hit with the option lower limit taxation to follow with the "pay-as-you-go" rule they imposed after winning their House majority. "Pay-go" is the benchmark of Democratic financial virtuousness in reaction to old age of Republican Party adoption for everything from the Republic Of Iraq warfare to Medicare drug benefits. It is critical for conservative Democrats who captured seating in Republican-favored districts by candidacy on financial responsibility. But it also set the political party in a budget vise.

"The Democratic Party is the political party of financial responsibility," House Speaker Nancy Pelosi of San Francisco declared. "This enables us ... to works a flag for financial responsibility, to works a flag for the center class, to works a flag for fight to maintain United States No. 1."

The statute law will not, however, go law. Eight conservative House Democrats voted "no," complaining that Pelosi was making them fall on their blades for a taxation addition that can't go through the Senate.

Senate Democrats are balking at determination offsetting taxation increases. New House Of York Sen. Chow Schumer opposed the taxation on Wall Street money managers, many of whom are large political campaign contributors. Silicon Valley venture capitalists, another beginning of political campaign funds, also are strongly opposed. Yet Senate Democrats have got not yet offered a manner to countervail the lost revenue.

"Sometimes hits are good," said Rep. Microphone Thompson, D-St. Helena, a member of his party's "Blue Dog" axis of 48 fiscally conservative members. "I was pretty repetitive we pay for it. I was one who led the complaint in the Way and Means Committee and among the Blue Dogs. So I desire to see this thing paid for."

Yet all the Democrats who opposed the measure were conservatives, most of them Blue Dogs. Rep. Jim Cooper, D-Tenn., argued to co-workers that the option lower limit taxation endangers only the top 20 percentage of taxpayers and warned that Democrats were getting hammered for proposing a taxation addition to pay for it. Peter Cooper headlined charts showing the option lower limit taxation impacts mostly people earning $100,000-$500,000 a twelvemonth with the question, "A Middle-Class Tax Cut?"

Mike Franc, caput of authorities dealings at the conservative Heritage Foundation and a former Republican Party House aide, said high-income taxpayers are increasingly concentrated in Democratic districts.

Franc establish that Pelosi's San Francisco territory have more than than than 43,700 taxpayers earning more than $200,000 a twelvemonth who register as a couple, or $100,000 if they register as an individual. House Republican leader Toilet Boehner's western Buckeye State district, by contrast, have only 7,000 such as households.

"For most of the people who are going to acquire angry about the tax, 4 out of 5 modern times it's going to be a Democrat getting the call," Franc said.

Even if Senate Democrats come up up with the money, they will be hard-pressed to defeat resistance from Republicans who take a firm stand that there is no demand to make so. Republicans and the White Person House reason that the lost gross from wiping out the option lower limit taxation is a fiction created by congressional budgeting because the taxation was never intended for people who might now be paying it. President Shrub promised to blackball the House bill.

Conservative House Democrats extracted a promise from Pelosi to throw firm.

"We have got to act, No. 1," Tauscher said. "No. 2, we have got got to pay for it, unlike our Republican colleagues, who have been Spenders with borrowed money."

Franc called the pay-go regulation "the beginning of political manhood" for conservative Democrats.

"They cannot afford, especially in their first twelvemonth in the majority, to relinquish this sacred regulation they campaigned on. That's radioactive for them because it's such a critical portion of their political identity."
Online resources
For a chart detailing the taxation deductions of the House bill:

E-mail Carolyn Lochhead at .

House Backs Tax Relief Bill, but Fate in Senate Is Unsure

WASHINGTON, Nov. Nine — The House passed a $78.3 billion taxation measure on Friday that would screen about 21 million people from the option lower limit taxation next year, and pay for it in portion by ending taxation interruptions for private equity funds, hedgerow finances and other partnerships.

Susan Walsh/Associated Press

Representative Prince Charles B. Rangel, left, with the House speaker, Nancy Pelosi, and other Democrats announcing the bill’s passage.

But the bill, approved 216 to 193, confronts a highly unsure hereafter in the Senate. Republicans are staunchly opposed to any taxation increases, and some Democrats are torn between appealing to their political party inherent aptitudes and alienating some of their large contributors.

President Shrub have already threatened to blackball the bill, which also includes extensions of respective other taxation provisions, if it includes higher taxations that would switch more than of the taxation load to the wealthy. He reasons that United States Congress should freeze the option lower limit taxation without trying to do up the $50.6 billion gross loss for the 2007 taxation year.

Following Mr. Bush's prescription, however, would increase the budget deficit, something Democrats have got vowed to avoid. Because it is not adjusted for inflation, and because of the manner it interacts with Mr. Bush's taxation cuts of 2001 and 2003, the option taxation have exploded in the last six old age and is put to hit people with incomes as low as $50,000.

Congress have prevented that enlargement by passing a series of one-year "patches," but the cost of those spots have exploded. House Democrats said their measure was both fiscally responsible and fair, protecting middle-income families without further adoption by repealing taxation interruptions that benefit the wealthiest people in the world.

"This is not a taxation increase," declared Representative of New York, president of the House Way and Means Committee. "This is the shutting of a taxation loophole, and you should be proud to take part in that."

Republicans charged that Democrats were simply raising taxes, because United States Congress never seriously intended to enforce the option lower limit taxation on anybody but a smattering of millionaires.

"The A.M.T. is crazy; it was never meant to use to middle-class taxpayers," said Representative Jim McCrery, Republican of Louisiana. "Why are we trying to accumulate it?"

But President Shrub and his Republican allies have got been dodging this issue for years. All of Mr. Bush's budget programs have got counted on a rise downpour of gross from the option lower limit tax, and his most recent program presumes $1 trillion in such as gross over the adjacent decade.

Democrats, for their part, are torn between trying to tame the taxation and keeping their promises about financial discipline.

If United States Congress neglects to move within the adjacent few weeks, the option lower limit taxation will hit 21 million households with an norm taxation addition of $2,000 on their 2007 taxation returns.

But if Democrats travel through a taxation cut without trying to do up for the lacking revenue, they would be undermining their signature tool for enforcing financial discipline: the "pay as you go" rules, which necessitate that any new taxation cut must be countervail with taxation additions or disbursement cuts in other areas.

The option tax, first imposed in 1969 to do certain that taxation taxation deductions and loopholes did not let very affluent people to get away paying income taxations altogether, is a analogue taxation computation that blocks many taxation interruptions for individuals.

Congress and President Shrub have got prepared their budget proposals on the premise that the A.M.T. grosses would soar up each year, hitting $50 billion in 2007 and totaling about $1 trillion over the adjacent decade. The fighting is over how — Oregon whether — to brand up for the cost of restraining the tax, which be givens to hit particularly difficult at two-income households with children in states with comparatively high state income and local place taxes.

Senate Democrats have got such as a narrow bulk that many polar lawmakers are dubious they can fulfill the pay-as-you-go rules and still rally the 60 ballots needed to close down any Republican filibuster. On top of that, Democrats like Senator of New House Of York have got been hesitating to back raising taxations on directors of private equity finances like the and Thomas Carlyle Group.

"I don't cognize what will happen," said Jesse James Manley, a spokesman for the Senate bulk leader, of Nevada. "Republicans have got made it crystal clear that they will barricade transition of the House measure in the Senate, because they don't believe the A.M.T. alleviation should be paid for — even by shutting taxation loopholes."

Mr. Thomas Reid told newsmen this hebdomad that the Senate would not take up the issue until December.

Private equity finances have got spent billions lobbying in defence of the taxation interruption for "carried interest," which is the share of net income that monetary fund directors have as a fee for their work on behalf of their investors.

Under current law, carried involvement is taxed as working capital gains, at 15 percent. Under the House bill, carried involvement would be taxed at individual rates of up to 35 percent.

Douglas Lowenstein, president of the Private Equity Council, defended the taxation treatment of carried involvement as a longstanding pattern that was not a particular loophole.

"The premiss of the inquiry is that you have got this large taxation loophole that is providing unearned and indefensible taxation relief," Mr. Lowenstein said. "But it's separate of the taxation codification that's been there for the better portion of a century."

To reenforce that argument, the Blackstone Group, one of the world's greatest private equity buyout firms, paid the Ogilvy Group $3.74 million for lobbying work this year, according to the Center for Responsive Politics, a grouping that monitoring devices money in politics.

The Private Equity Council, an industry trade group, have hired numerous well-connected Democratic lobbyists. Among them are Vic Fazio, a former member of United States Congress from California, and Toilet Talisman, a former helper Treasury secretary for taxation policy under President .

Stock Newsletter Can Improve Your Trading Acumen

The World Wide Web have opened up a whole new locale for the method in which investors do stock picks. In today's world, by downloading the appropriate software, anyone can see the public presentation of their investings online in existent time. In former years, only full clip stock agents had this information available to them; now, it is readily available to all investor understanding individuals.

The flowing of information had changed dramatically. An illustration is the stock newsletter. Then, a stock newsletter was mailed and the information will typically be respective years behind when it gets at its destination. Today, your information attains you in the word word form of either e-mail Oregon in the form of you visiting a website that may have got been updated respective modern times daily. Although some information necessitates a fee, there are others that are free. Quality is not always assured by terms paid.

The end of the marketplace investor is to do money speedy by recognizing hot stocks. However, investing in long term pillory are equally as important. By spreading out investings over a battalion of companies, the hazard significantly decreases. Companies who "put their eggs all in one basket" human face the hazard of a damaging ruin if their investing makes not make well. To successfully understand the market, a stock newsletter is highly good because it lets the investor to acquire a thorough apprehension of the full marketplace and supplies indispensable tools in choosing what investings are right for them.

While a newsletter could never take the topographic point of a good broker, a enlightened finance advisor, or even your ain experience, it can supply further information to see and usage to your benefit and will give you a good full general overview of the marketplaces as a whole.

What exactly should you look for in a stock marketplace newsletter? A good newsletter will foreground the possible terms alterations in stocks, prognosis hereafter industry trends, and give an overall position of the market. It should also offer some educated sentiments regarding hereafter terms and volume movements. But a good newsletter isn't about guessing the future, it's about basing anticipations on information gathered from historical statistics and presenting them for your ain analysis as well.

You should seek out newsletters that are referenced and quoted by other dependable fiscal publications. After all, if other leadership in the industry seek out a given newsletter, its content must be rather good. Ask experienced investors and other fiscal professional which newsletters they subscribe to and trust. Radio engineering can now present quotation marks and updates instantly whenever events occur;

Tax Information and Help

Here's a speedy overview of a few of your free taxation aid options:

*The Internal Revenue Service Volunteer Income Tax Aid Program (VITA)

*The Tax Guidance for the Aged Program (TCE)

*Free taxation aid for Military force and their families

The VITA and TCE Programs are comprised of military volunteers who are trained to assist with your taxation concerns like Earned Income Tax Recognition (EITC), Recognition for the Aged and Child Tax Credit. If you measure up for any of these, or other particular credits, your VITA or TCE counsellor can allow you know. Besides aid with preparing your taxation return, most of these free taxation counsellors also offer electronic filing, also known as e-filing, of your taxations free of charge. If you take to use the e-filing method, you will have your taxation tax return in about one-half the clip required to procedure paper returns. Another manner to rush up bringing of your valuable taxation tax return is to take advantage of the direct sedimentation option. Funds are usually deposited into your depository financial institution business relationship within years versus hebdomads or even calendar months it can take for paper filing methods and mailed checks.

The VITA taxation aid programme is widely available to families with low to chair income levels. If your annual income is $39,000 or less, you automatically qualify. The VITA military volunteers are sponsored by local and national organisations and are certified to supply taxation aid and to set up basic taxation taxation returns in metropolises and communities across the country.

VITA is generally widely available in community centers, public libraries, public schools, malls, shopping centres and many other convenient locations to break function your tax needs. Most VITA locations offering free e-filing, sol experience free to take advantage of this fast, easy and dependable manner to rush up the readying and bringing of your taxation return. Call their toll-free number 1-800-829-1040 if you necessitate aid locating the nighest VITA site.

The TCE Program is widely available to the aged in demand of taxation help. If you are age 60 or older, you automatically measure up for the TCE Program's assistance. TCE military volunteers are usually retired people who are associated with a non-profit organization that have grants from the Internal Revenue Service to operate. These military volunteers are trained to supply free taxation aid and income taxation tax return information, readying and filing.

The American Association of Retired Persons (AARP) is portion of the TCE program, sponsored by the IRS. With nearly 7,500 Association for the Advancement of Retired Persons Tax-Aide land sites state wide, a certified Association for the Advancement of Retired Persons Tax-Aide military volunteer is readily available to assist you with all of your taxation aid and readying needs.

The VITA Program also have a very strong military presence. The Armed Forces Tax Council (AFTC) is comprised of programme coordinators for all subdivisions of the U.S. Military. The AFTC is the primary outreach transmission channel utilized by the Internal Revenue Service to link with the United States Military force and their families.

All taxation aid provided by VITA, TCE and TCE via the Association for the Advancement of Retired Persons is provided to you free of complaint if you qualify.

Here is a listing of points you necessitate to convey with you to have got got your taxations properly prepared:

*Wage and earning statements (for illustration W-2, W-2G, 1099-R)

*Photo Idaho Oregon other cogent evidence of identification

*Social Security card game for yourself and any dependents

*Birth days of the month for you and any dependents

*Interest and dividend statements you may have

*A transcript of the former year's Federal Soldier and State Returns

*Required information regarding twenty-four hours attention (for illustration sum paid for twenty-four hours attention disbursals and the taxation Idaho figure for your twenty-four hours attention provider)

If you be after to take advantage of e-filing or if you're married filing jointly, both partners must be available to subscribe the prepared taxation documents.

Understanding the Sensex

What is
a stock index? In simple terms, it is a listing of pillory and a statistic
reflecting the composite value of its components. It gives an thought if most of
the pillory have got got gone up or most of the pillory have gone down. Compiled in 1986,
the Sensex is a handbasket of 30 component pillory representing a sample of large,
liquid and representative companies. The alkali twelvemonth of Sensex is 1978-79 and the
base value is 100. The Sensex
is an index of all the major companies of the BSE. If the Sensex climb ups up,
it intends that the terms of the pillory of most of the major companies on the
Bombay Stock Exchange have got gone up. If the Sensex travels down, it bespeaks that
the stock terms of most of the major pillory on the bovine spongiform encephalitis have got gone down. The Nifty
represents the top pillory of the NSE or National Stock Exchange. Though there
are other exchanges, none are as popular as the two and most of the stock
trading in the state is done though the bovine spongiform encephalitis and the NSE. There are many indices other
than the Sensex and the Nifty. More specialised indices be tracking the
performance of specific sectors of the market. Other indices may track companies
of a certain size, a certain type of management, or even more than specialised
criteria. bovine spongiform encephalitis Mid-cap Index gives an thought about whether the mid-cap pillory travel up
or down. There are indices for metallic element stocks, FMCG stocks, car pillory etc.
The Sensex is the most popular 1 and is regarded as the true contemplation of the
stock marketplace by many. The BSE's
index is calculated using the free-float marketplace capitalization methodology. The
level of index at any point of clip reflects the free-float marketplace value of 30
component pillory relative to a alkali period. The marketplace capitalization of a
company is determined by multiplying the terms of its stock by the figure of
shares issued by the company. This marketplace capitalization is additional multiplied
by the free-float factor to find the free-float marketplace capitalisation. The
calculation of the Sensex affects dividing the free-float marketplace capitalisation
of 30 companies in the index by a figure called the index divisor. The divisor
keeps the index comparable over clip and is the accommodation point for all index
adjustments. What are the
constituents of an index? There are certain full general guidelines for choice of
constituents in the Sensex. The scrip should have got a listing history of at least
three calendar months at BSE. The scrip should have got been traded on each and every trading
day in the last three months. Exceptions can be made for utmost grounds like
scrip suspension etc. The scrip should calculate in the top 100 companies listed by
final rank. The weightage of each scrip in the Sensex is based on a three-month
average free-float marketplace capitalization and should be at least 0.5 percentage of
the index. Further, the choice would generally take into business relationship a balanced
representation of the listed companies in the existence of BSE. Finally, the
company should have got an acceptable track
record. Some monetary fund houses create
passively managed finances that are based on marketplace indices, known as index funds. Some people claim that index finances beat out usual actively managed funds. Index
funds effort to retroflex the retentions of an index and its
performance.

Fear And Greed

Finding The Answers

Almost 25 old age ago I had amassed my first nest egg that I was confident would eventually take me to a rich and comfortable future.

After barely making it through the 70's, with involvement rates in the teens, three jobs, and more than measures than I had the money to pay for each month, I had finally "arrived."

The stock marketplace was the obvious answer. Like Willie Sutton said when he was asked, "why do you rob banks?" His reply, "because that's where the money is."

But I faced two emotions that not only caused me anxiety, they literally froze my ability to make decisions. I wanted to "grow" my money, but I did not desire to "lose" any of it.

Not a penny!

During this clip I establish my manner into the human race of marketplace timing. Searching for a manner to be fully invested during advancing markets, yet in hard cash during declining markets. Eventually I did happen answers, but only after much research and plentifulness of dearly-won mistakes.

However two emotions had to be defeat before any of my timing schemes could work.

What good is a plan, if you can not, or do not, carry it?

Fear and Trading

I acknowledge to being greedy, to make those net income that seemed right there for the taking, yet I was awful of losing my difficult earned nest egg. How do you make determinations when those determinations impact something you throw dearly? Meaning, your money!

First, fearfulness doesn't constitute in a vacuum. It is a learned response. In the lawsuit of marketplace timing, when you have got a bargain or sell signaling that travels bad, the sorrow and defeat can transport over into the NEXT bargain or sell. Or worse, the fearfulness is so consuming, that you don't even come in your adjacent trade.

Of course, Murphy's Law orders that the bargain or sell you don't come in is the 1 you should have got entered, which only chemical compounds the fearfulness and frustration.

This peculiar job is made much worse if you come in every bargain or sell with the "expectation" that it should be profitable.

If you believe that, then here is an of import piece of information for you - "not every bargain or sell volition be profitable!"

Greed and Trading

Greed makes the antonym problem.

After respective winning trades, the feeling of indomitability supersedes being logical. This volition ultimately take you disregard a successful timing scheme and into trades that you normally would not have got entered.

Finding good bargains and sells in marketplace timing is "only" accomplished by sticking to a proved trading strategy. But determination mediocre bargains and sells, and ignoring your trading plan, looks to acquire much easier after a couple of winners.

Never error mastermind for net income derived from your trading strategy. Genius loses money. Trading bes after do money.

We All Privation To Be Bullish

The difference between being "emotional" and being "blinded" by fearfulness and greed is indeed critical to success.

Experienced marketplace timers cognize this.

Hard modern times in marketplace timing happen. A scheme can travel for old age making net income after profit, and then the marketplaces make what they make best. They thwart us. We come in a volatile crabwise marketplace that is virtually un tradable.

It happens. But it "always" ends. And most importantly, if we don't take the trade that hits the jackpot, it will only re implement our fears.

Every trade MUST be taken. If aggressive trading is taking it's toll on you emotionally, usage a scheme that plant in ALL markets, like our Sector Timer that usages variegation to buffer volatility.

But maintain trading. The lone manner to marketplace timing success is to do the trades.

Fear blinds us to opportunity.

Greed blinds us to danger.

It's important to acknowledge your emotions, and more than importantly, how they impact your investment approach. In general, we all privation to be bullish, and are eager to see any upward marketplace motion as a rally, even when it's not.

Conclusion

As we come in the last two calendar months of this very volatile twelvemonth we are all somewhat gun-shy.

Are fearfulness and greed drive your investing determinations right now? If you are trading the aggressive Bull & Bear Pro Timer strategy, but in world you are just looking for a conservative timing scheme to maintain you invested during advancing trends, and secure from declining trends, then you are in the incorrect strategy!

Aggressive marketplace timing is for "aggressive" timers. Those trying to contort as much net income out of the marketplace as they can, and willing to accept short term losings as the terms for achieving above norm long term profits. Aggressive timers are unfazed by the ups and down feathers of an aggressive timing strategy.

If you're not sure, or you are concerned about frequent trading, I'd urge either moving to a diversified trading scheme such as as the Sector Timer, or even using the Conservative Timer. Possibly our "Diversified Timing Strategy" is the reply for you.

Whatever you do, whichever scheme is right for you, stick to the plan!

Unum Group Reports Third Quarter 2007 Results

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Unum Group (NYSE: UNM) announced today its consequences for the 3rd one-fourth
of 2007. The Company reported nett income of $187.0 million ($0.52 per
diluted common share), compared to a nett loss of $63.7 million ($0.19
per diluted common share) for the 3rd one-fourth of 2006.

Included in the consequences for the 3rd one-fourth of 2007 are nett realized
after-tax investing losings of $30.0 million ($0.08 per diluted common
share), compared to nett realized after taxation investment additions of $3.1
million ($0.01 per diluted common share) in the 3rd one-fourth of 2006. Net realized investing losings for the 3rd one-fourth of 2007 include
after-tax losses of $18.0 million related to to to alterations in the just values
of the embedded derived functions in certain modified coinsurance contracts
and after-tax losses of $12.0 million related to write-downs of certain
investings which the Company no longer have the purpose to throw to
adulthood owed to alterations in the working working capital demands resulting from the
reinsurance dealing involving the Individual Income Protection –
Closed Block section and the Company’s related
capital redisposition plans. Results for the 3rd one-fourth of 2006
included an addition in the claim reappraisal modesty of $325.4 million
before tax, or $211.5 million after taxation ($0.62 per diluted common share)
and $18.5 million before tax, or $12.7 million after taxation ($0.04 per
diluted common share), for the colony understanding concerning the
Company’s agent compensation practices.

Adjusting for the several aforesaid items, income from
continuing trading operations on an after-tax basis was $217.0 million ($0.60
per diluted common share) in the 3rd one-fourth of 2007, compared to
$155.8 million ($0.46 per diluted common share) in the 3rd one-fourth of
2006.

“The 3rd one-fourth goes on a tendency of
steadily improving operating public presentation that began in early 2006,”
said Seth Thomas R. Watjen, president and main executive director officer. “I'm
pleased to state that all three of our concerns made important
parts during the quarter, as both Colonial and Unum United Kingdom once
again delivered outstanding consequences and Unum United States continued
to accomplish consistent, solid improvement in its operating performance. Based on the consequences for this and the past respective quarters, it's unclutter
our scheme is working.

As our public presentation have improved, we've transitioned from a company that
just a few old age ago needful to raise working working capital to one that now bring forths
capital. The successful completion of the securitization of our
Individual Income Protection – Closed Block
concern we announced today speed ups the gait of working capital coevals
at the Company. As a result, we have got formalized our working capital direction
strategy, and with this in head I'm pleased to state that our board of
managers have authorized the redemption of up to $700 million of our
common stock.”

consequences BY SEGMENT

In the followers treatments of the Company’s
operating section results, “operating revenue”
excepts nett realized investing additions and losses. “Operating
income” Oregon “operating
loss” excepts income taxation and nett realized
investing additions and losses.

Unum United States Segment

Unum United States reported operating income of $164.3 million in the 3rd one-fourth
of 2007, compared to an operating loss of $173.2 million in the 3rd
one-fourth of 2006. Included in the consequences for the 3rd one-fourth of 2006
is a claim reappraisal complaint of $291.4 million. Excluding this charge,
income for the section was $118.2 million for the 3rd one-fourth of 2006. Premium income declined 1.8 percentage to $1,255.3 million in the 3rd
one-fourth of 2007, from $1,278.6 million in the 3rd one-fourth of 2006.

Within Unum US, the grouping income protection line of concern reported
operating income of $50.4 million in the 3rd one-fourth of 2007, compared
to an operating loss of $275.0 million in the 3rd one-fourth of 2006. Results for the 3rd one-fourth of 2006 include a claim reappraisal
complaint of $291.4 million in 2006. Excluding the charge, operating income
was $16.4 million for the 3rd one-fourth of 2006. The benefit ratio for
the 3rd one-fourth of 2007 was 92.1 percent, compared to 139.4 percentage in
the 3rd one-fourth of 2006, or 94.5 percentage excluding the complaint taken in
the 3rd one-fourth of 2006. The improvement in the benefit ratio
goes on to be driven by improvements in the claims direction procedure
along with a decrease in paid claims in both the grouping long-term and
short-term income protection lines of concern relation to the 3rd
one-fourth of 2006. Premium income in grouping income protection declined 3.6
percentage to $593.3 million in the 3rd one-fourth of 2007, compared to
$615.7 million in the 3rd one-fourth of 2006. The diminution goes on to be
attributable to the Company’s disciplined
attack to pricing, renewals, and hazard selection. Gross Sales of fully
insured grouping long-term income protection merchandises in the 3rd one-fourth
of 2007 decreased by 5.9 percentage to $23.9 million, compared to $25.4
million in the twelvemonth ago quarter. Gross Sales of fully insured grouping short-term
income protection merchandises declined by 13.3 percentage to $8.5 million in
the 3rd one-fourth of 2007, compared to $9.8 million in the 3rd one-fourth
of 2006. Premium doggedness in the grouping long-term income protection
line of concern was 84.9 percentage through the 3rd one-fourth of 2007,
compared to 87.5 percentage in the first nine calendar months of 2006. Lawsuit
doggedness for this line was 88.1 percentage for the first nine calendar months of
2007, compared to 86.9 percentage for the comparable twelvemonth ago period. Premium doggedness in the grouping short-term income protection line of
concern was 75.5 percentage for the first nine calendar months of 2007, compared to
85.3 percentage for the comparable time period in 2006. Lawsuit doggedness for the
line was 87.1 percentage for the first nine calendar calendar months of 2007, compared to
85.8 percentage in the first nine months of 2006.

The grouping life and accidental decease and taking apart line of concern
reported a 30.7 percentage addition in operating income to $56.2 million in
the 3rd one-fourth of 2007, compared to $43.0 million in the 3rd
one-fourth of 2006. Results for the line go on to reflect a less claim
relative relative incidence charge per unit in grouping life, outweighing a higher degree of incidence in
the accidental decease and taking apart line during the quarter. Premium
income for this line of concern declined 6.4 percentage to $309.6 million
in the 3rd one-fourth of 2007, compared to $330.6 million in the 3rd
one-fourth of 2006, continuing to reflect the Company’s
in progress under control attack to pricing, renewals, and hazard selection. Gross Sales of grouping life merchandises in the 3rd one-fourth of 2007 declined 2.3
percentage to $17.3 million, compared to $17.7 million in the 3rd one-fourth
of 2006. Premium doggedness in the grouping life line of concern was 79.3
percentage for the first nine calendar months of 2007, compared to 80.3 percentage for
the comparable time period in 2006. Lawsuit doggedness for the first nine
calendar months of 2007 was 87.2 percentage and for the comparable time period in 2006
was 86.5 percent.

The Unum United States auxiliary and voluntary lines of concern reported a 1.9
percentage lessening in operating income to $57.7 million in the 3rd
one-fourth of 2007, compared to $58.8 million in the 3rd one-fourth of 2006. Premium income for auxiliary and voluntary lines increased 6.0
percentage to $352.4 million in the 3rd one-fourth of 2007, compared to
$332.3 million in the 3rd one-fourth of 2006. Gross Sales in the voluntary
workplace benefits line of concern increased 11.0 percentage in the 3rd
one-fourth of 2007, gross gross sales in the individual income protection –
recently issued line increased 7.8 percent, and long-term care sales
increased 23.8 percentage compared with the twelvemonth ago quarter.

Unum United Kingdom Segment

Unum United Kingdom reported operating income of $101.0 million in the 3rd one-fourth
of 2007, a 54.2 percentage increase, compared to $65.5 million in the 3rd
one-fourth of 2006. Operating income benefited from a diminution in the
benefit ratio to 53.3 percentage in the 3rd one-fourth of 2007, compared to
67.2 percentage in the 3rd one-fourth of 2006. The less benefit ratio for
the current one-fourth was primarily the consequence of a 3rd one-fourth 2007
accommodation to long-term assumptions for claim militia owed to emerging
experience and the Company’s position of future
events. The accommodation increased 3rd one-fourth section operating income
by approximately $16.6 million. Advantageous currency exchange rates
continued to profit reported consequences for the segment. In local
currency, operating income for the 3rd one-fourth of 2007 increased 43.3
percentage from the 3rd one-fourth of 2006. Premium income increased 12.7
percentage to $247.6 million in the 3rd one-fourth of 2007, compared to
$219.7 million in the 3rd one-fourth of 2006. In local currency, insurance premium
income increased 4.5 percentage compared to the 3rd one-fourth of 2006. Gross Sales decreased 12.6 percentage to $22.2 million in the 3rd one-fourth of
2007, compared to $25.4 million in the 3rd one-fourth of 2006. In local
currency, gross sales for the 3rd one-fourth of 2007 decreased 18.5 percentage
compared to the 3rd one-fourth of 2006.

Colonial Segment

Colonial reported a 20.0 percentage addition in operating income to $62.5
million in the 3rd one-fourth of 2007, compared to $52.1 million in the
3rd one-fourth of 2006. Results in the 3rd one-fourth of 2007 were driven
by continued advantageous claims experience across all major merchandise lines:
income protection, life, and malignant neoplastic disease and critical illness. The benefit
ratio in the 3rd one-fourth of 2007 was 48.6 percent, compared to 52.6
percentage for the same time period in 2006. The Colonial operating section
continued to construct on its merchandise portfolio with the introduction of two
new products: Checkup Bridge 3000 in the 3rd one-fourth of 2007 and
Colonial Health Advantage early in the 4th quarter. Premium income
for the 3rd one-fourth of 2007 increased to $227.0 million, compared to
$212.8 million in the 3rd one-fourth of 2006. Gross Sales increased 2.2 percentage
to $74.5 million in the 3rd one-fourth of 2007 from $72.9 million in the
3rd one-fourth of 2006. New business relationships increased 7.0 percentage in the 3rd
one-fourth of 2007 compared to the 3rd one-fourth of 2006. Average weekly
manufacturers increased 4.2 percentage in the 3rd one-fourth of 2007 compared to
the 3rd one-fourth of 2006, while norm weekly insurance premium per agent
decreased 2.0 percent.

Person Income Protection –
Closed Block Segment

The Individual Income Protection – Closed
Block section reported operating income of $29.4 million in the 3rd
one-fourth of 2007, compared to a loss of $5.3 million in the 3rd one-fourth
of 2006. Results for the 3rd one-fourth of 2006 include a claim
reappraisal complaint of $34.0 million. Excluding this charge, operating
income for the section was $28.7 million in the 3rd one-fourth of 2006. The involvement adjusted loss ratio for the section was 92.4 percentage in the
3rd one-fourth of 2007, compared to 106.2 percentage in the anterior twelvemonth 3rd
quarter. Excluding the claim reappraisal complaint in the 3rd one-fourth
2006, the ratio was 93.0 percentage in the twelvemonth ago quarter.

Other Segment

The Other section reported operating income of $3.6 million in the 3rd
one-fourth of 2007, compared to $7.8 million in the 3rd one-fourth of 2006.

Corporate Segment

The Corporate segment, which includes investing net income on corporate
assets not specifically allocated to a line of business, corporate
involvement expense, and certain other corporate expenses, reported a loss
of $35.7 million in the 3rd one-fourth of 2007, compared to a loss of
$49.1 million in the 3rd one-fourth of 2006. The consequences for 2006 include
the $18.5 million complaint related to the agent compensation colony
agreement. Interest disbursal in the 3rd one-fourth 2007 was $43.9 million,
compared to $44.2 million in the 3rd one-fourth of 2006.

OTHER INFORMATION

Securitization Transaction Announced

In a separate proclamation issued today, Unum Group announced the
completion of the securitization of its closed block of individual
income protection militia with the private offering of $800.0 million
of floating charge per unit insured short letters owed December 1, 2037, by the Company’s
wholly-owned subordinate Northwind Holdings, LLC (Northwind Holdings). The dealing included the intercompany reinsurance of $11.1 billion
of statutory reserves, representing approximately 95 percentage of the
Individual Income Protection – Closed Block
segment, to Northwind Reinsurance Company (Northwind Re), a newly formed
particular intent fiscal prisoner coverage company domiciled in Green Mountain State
and owned by Northwind Holdings. With the hazard transportation to Northwind Re,
the Company’s traditional U.S. coverage
subordinates will let go of extra statutory working capital previously supporting
this reinsured closed block business. The surplus working capital will be
transferred to Unum Group from the ceding companies through
extraordinary dividends. This working working capital construction will let the Company
to go on to fully back up the hazard profile of this closed block of
concern while allowing for redisposition of extra capital to other
uses. The redisposition is expected to construct further value and
fiscal strength to the benefit of Unum Group’s
policyholders, shareholders, and creditors.

Capital Management Scheme
Announced

In response to numerous inquiries from investors on the Company’s
purposes for utilizing any surplus capital, it have recently formalized
its working working capital direction ends and objectives. The first precedence is to
keep sufficient fiscal flexibleness to back up its trading operations over
assorted economical rhythms and to react to chances in the
marketplace while placement the Company for improvements in its recognition
ratings. It have put in topographic point respective fiscal marks which will steer
its working capital direction determinations including: Keep a hazard based working capital ratio of 300 percentage or greater for its
traditional U.S. coverage subsidiaries. This is to be measured on a
weighted-average basis using the NAIC Company Action Degree formula.

Keep purchase at approximately 25 percent. Leverage will be
measured as debt to number working capital (defined as debt plus stockholders’
equity, excluding the nett unfulfilled addition or loss on securities and
the nett addition or loss on hard cash flowing hedges), excluding the non-recourse
debt and associated equity of Tailwind Holdings and Northwind Holdings.

Keep extra working working capital at its retention companies sufficient to cover
one twelvemonth of fixed complaints (measured as involvement disbursal plus common
stock dividends) plus a capital monetary fund which will change with concern and
economical conditions.

Keep a common stock dividend output that is near the median value of its
equal companies.

The Company sees any working working capital above that needful to accomplish and
keep these metrics to be extra capital available to fund share
repurchases, concern growth, or acquisitions. The end in allocating
extra working working capital is to maximise risk-adjusted shareholder tax returns over a
three to five twelvemonth clip period, with share redemption used as the
benchmark for evaluating usages for extra capital.

Shares Outstanding

The Company’s norm figure of shares (000s)
outstanding, assuming dilution, was 360,906.3 for the 3rd one-fourth of
2007, compared to 340,727.7 for the 3rd one-fourth of 2006.

Book Value

Book value per common share as of September 30, 2007 was $21.70,
compared to $22.17 at September 30, 2006. Excluding the nett unfulfilled
addition on securities and the nett addition on hard cash flowing hedges, book value per
common share at September 30, 2007 was $20.36, compared to $19.63 at
September 30, 2006.

Claim Reappraisal Update

The Company have now substantially completed the claim reappraisal
process, as needed by the regulating colony agreements. During the
3rd one-fourth of 2007, 2,533 claims were reviewed, and the reappraisal on the
remaining balance of 210 claims will be completed in the 4th quarter. For the 3rd one-fourth of 2007, the turn over charge per unit was 53 percent, and for
the procedure to day of the month the turn over charge per unit is 41 percent. Any remaining
reappraisal cost will not have got a stuff consequence on the Company’s
operations. The concluding scrutiny under the multi-state regulating
colony understanding have begun, with an awaited completion by
mid-year 2008. Supplemental revelation on the claim reappraisal consequences
for the 3rd one-fourth of 2007 have been posted to the Company’s
website.

OUTLOOK

The Company is revising upward its full twelvemonth 2007 operating net income
counsel to a scope of $2.14 to $2.17 per share, excluding the 2nd
one-fourth claim reappraisal charge, from former counsel of $2.01 to
$2.04 per share, based on the nine calendar months public presentation and current
outlooks for the residual of the year. Incorporated in the Company’s
estimations is continued improvement in the benefit ratio for the Unum United States
grouping income protection line to within its previously stated counsel of
a scope of 90.0 percentage to 92.0 percentage by the end of 2007.

The Company will throw an investor meeting in New House Of York on November 19,
2007, at which clip it means to reexamine its mentality for 2008.

NON-GAAP RECONCILIATION

The Company analyzes its public presentation using non-GAAP fiscal measurements
which except certain points and the related to taxation thereon from nett income. The Company believes operating income or loss, excluding realized
investing additions and losses, which are recurring, and excluding certain
other points specified in the non-GAAP reconciliation, is a better
public presentation measurement and a better index of the profitableness and
implicit in tendencies in its business. Realized investing additions and losings
are primarily dependent on marketplace statuses and general economical events
and are not necessarily related to determinations regarding the Company’s
implicit in business. The exclusion of certain other points specified in
the non-GAAP rapprochement also heightens the apprehension and
comparison of the Company’s public presentation
and the implicit in basics in its operations, but this exclusion is
not an indicant that similar points may not recur. The Company believes
book value per common share excluding unfulfilled additions and losings on
securities and the nett addition or loss on hard cash flowing hedges, which also be given
to fluctuate depending on marketplace statuses and general economical trends,
is an of import measure. For a rapprochement to the most directly
comparable GAAP measures, mention to the attached digest of earnings.

conference call INFORMATION

Unum Group senior direction will host a conference phone call on Thursday,
November 1, 2007 at 9:00 a.m. (EDST) to discourse the consequences of
trading operations for the 3rd quarter. Included in the treatment will be
forward-looking information, such as as counsel on future consequences and
tendencies in operations, as well as other stuff information.

The dial-in figure for the conference phone call is (888) 713-4486 for U.S.
and Canada. For International, the dial-in figure is (913)
312-1439. A unrecorded webcast of the phone call will also be available at
in a listen-only mode. It is recommended that webcast viewing audience entree the “Investor
Information” subdivision of the Company’s
website and opt-in to the webcast 15 proceedings prior to the start of
the call. A rematch of the phone call will be available by telephone set and on the
Company’s website through Thursday, November
8. In concurrence with the Company’s net income
announcement, the Company’s Statistical
Addendum for the 3rd one-fourth of 2007 have been made available on the “Investor
Information” subdivision of the Company’s
website.

ABOUT UNUM GROUP

Unum () is one of the
prima suppliers of employee benefits merchandises and services and the
biggest supplier of grouping and individual disablement income protection
coverage in the United States and the United Kingdom.

safe seaport STATEMENT

Statements in this fourth estate release that are not historical facts, such as as
The Company’s net income per share and Unum United States
grouping income protection benefit ratio guidance, represent “forward-looking
statements” within the significance of the Private
Securities Litigation Reform Act of 1995 and affect hazards and
uncertainnesses that could do existent consequences to differ materially from
those contained in the forward-looking statements. These hazards and
uncertainnesses include such as substances as general economical or concern
conditions; events or effects relating to terrorism, Acts of warfare
and catastrophes, including natural and man-made disasters; competitory
factors, including pricing pressures; legislative, regulatory,
accounting, or taxation law changes; and the involvement charge per unit environment. More
specifically, they include fluctuations in coverage modesty
liabilities; alterations in proposed new gross sales and renewals; fluctuations
between projections and existent experience in doggedness rates,
relative incidence and recovery rates, pricing and underwriting; retained hazards
in the Company’s reinsurance operations;
handiness and cost of reinsurance; the degree and consequences of
litigation, evaluation federal agency actions, and regulating actions and
investigations; existent experience in implementing and complying with the
multistate marketplace behavior regulating colony understandings and the
Golden State Department of Insurance colony agreement; negative mass media
attention; alterations in premises relating to postponed acquisition
costs, value of concern acquired, or goodwill; the degree of pension
benefit costs and funding; investing results, including recognition
impairment of investments; the ability of the Company’s
coverage company subordinates to pay dividends or widen recognition to the
Company and certain of its intermediate retention company subordinates
and/or finance subsidiaries; and effectivity of merchandise support and
client service. For additional information of hazards and uncertainnesses
that could impact existent results, see the Company’s
filings with the Securities and Exchange Commission, including
information inch the subdivisions titled “Cautionary
Statement Regarding Forward-Looking Statements”
and “Risk Factors”
in the Company’s Annual Report on Form 10-K
for the financial twelvemonth ended December 31, 2006 and subsequently filed Form
10-Qs. The forward-looking statements in this fourth estate release are being
made as of the day of the month of this fourth estate release, and the Company expressly
disclaims any duty to update or revize any forward-looking
statement contained herein.

digest OF EARNINGS

(Unaudited)

Unum Group (UNM:NYSE)

and Subsidiaries

($ inch millions, except share data)

Three Months Ended September 30

Nine Months Ended September 30

2007

2006

2007

2006

Operating Gross by Segment

$ 2,656.3

$ 2,612.6

$ 7,915.8

$ 7,837.7

Net Realized Investing Addition (Loss)

(46.1

)

4.8

(39.4

)

1.5

Sum Revenue

$ 2,610.2

$ 2,617.4

$ 7,876.4

$ 7,839.2

Operating Income (Loss) by Segment

$ 325.1

$ (102.2

)

$ 811.2

$ 198.3

Net Realized Investing Addition (Loss)

(46.1

)

4.8

(39.4

)

1.5

Income Tax (Benefit)

92.0

(32.1

)

259.9

70.4

Income (Loss) from Continuing Operations

187.0

(65.3

)

511.9

129.4

Income from Discontinued Operations, Net of Tax

-

1.6

6.9

5.5

Net Income (Loss)

$ 187.0

$ (63.7

)

$ 518.8

$ 134.9

PER share INFORMATION

Assuming Dilution:

Income (Loss) from Continuing Operations

$ 0.52

$ (0.19

)

$ 1.44

$ 0.39

Income from Discontinued Operations, Net of Tax

-

-

0.02

0.02

Net Income (Loss)

$ 0.52

$ (0.19

)

$ 1.46

$ 0.41

Basic:

Income (Loss) from Continuing Operations

$ 0.52

$ (0.19

)

$ 1.46

$ 0.40

Income from Discontinued Operations, Net of Tax

-

-

0.02

0.02

Net Income (Loss)

$ 0.52

$ (0.19

)

$ 1.48

$ 0.42

Leaden Average Park Shares - Basic (000s)

359,741.2

340,727.7

350,665.9

319,209.4

Leaden Average Park Shares - Assuming Dilution (000s)

360,906.3

340,727.7

354,109.5

331,312.5

reconciliation OF NON-GAAP FINANCIAL MEASURES

Three Months Ended

Three Months Ended

September 30, 2007

September 30, 2006

(in millions)

per share(a)

(in millions)

per share(a)

Income from Continuing Operations, As Adjusted

$ 217.0

$ 0.60

$ 155.8

$ 0.46

Adjustments, After Tax

Net Realized Investing Addition (Loss)

(30.0

)

(0.08

)

3.1

0.01

Regulatory Reappraisal Charge

-

-

(211.5

)

(0.62

)

Agent Compensation Settlement

-

-

(12.7

)

(0.04

)

Income (Loss) from Continuing Operations

187.0

0.52

(65.3

)

(0.19

)

Income from Discontinued Operations

-

-

1.6

-

Net Income (Loss)

$ 187.0

$ 0.52

$ (63.7

)

$ (0.19

)

Three Months Ended

September 30, 2006

(in millions)

benefit ratio(b)

Unum United States Group Income Protection

Premium Income

$ 615.7

Benefits and Change in Militia for Future Benefits

858.4

139.4

%

Regulatory Reappraisal Charge

276.4

Benefits and Change in Militia for Future Benefits, Excluding
Regulatory Reappraisal Charge

582.0

94.5

%

As of September 30

2007

2006

(in millions)

per share

(in millions)

per share

Sum Stockholders' Equity, As Adjusted

$ 7,347.2

$ 20.36

$ 6,725.4

$ 19.63

Net Unfulfilled Addition on Securities

346.6

0.96

687.9

2.01

Net Addition on Cash Flow Hedges

137.0

0.38

181.1

0.53

Sum Stockholders' Equity (Book Value)

$ 7,830.8

$ 21.70

$ 7,594.4

$ 22.17

Mentality Range

Twelve Months Ended December 31, 2007

(in millions)

per share(c)

(in millions)

per share(c)

After-tax Operating Income by Section Excluding Net Realized
Investing Gains and Losings and Regulatory Reappraisal Charge

$ 761.4

$ 2.14

$ 772.1

$ 2.17

Regulatory Reappraisal Charge, Net of Tax

(34.5

)

(0.10

)

(34.5

)

(0.10

)

After-tax Operating Income Excluding Net Realized Investing Gains
and Losses

$ 726.9

$ 2.04

$ 737.6

$ 2.07

(a) Assuming Dilution

(b) Benefits and Change in Militia for
Future Benefits as a percentage of Premium Income

(c) Assuming Dilution - Forecasted
Leaden Average Shares of 355.8 million