Podcasts about exporting

Setting up an IC-DISC the right way can mean the difference between maximizing tax savings and having issues down the road. In this episode of The IC-DISC Show, I sit down with Brian Schwam, IC-DISC specialist and tax attorney, to walk through the complete IC-DISC setup and compliance process from start to finish. This conversation was inspired by a CPA request for a comprehensive guide covering every step of the IC-DISC journey. Brian breaks down the entire process chronologically, from the initial consultation to determine if a business qualifies, through the critical formation steps that can make or break your IC-DISC. We cover proper capitalization requirements, the infamous 90-day election window, why non-interest bearing bank accounts matter, and the draconian 60-day payment rule that catches many businesses off guard. He explains the difference between simple and transaction-by-transaction calculations, sharing an example where detailed analysis increased a client's commission from $4 million to $17 million on $100 million in export sales. Whether you're a CPA learning about IC-DISC for the first time or a business owner considering this strategy, Brian's systematic approach demonstrates why working with a true specialist matters when navigating these complex regulations.     SHOW HIGHLIGHTS A detailed transaction-by-transaction calculation increased one client's IC-DISC commission from $4 million to $17 million on the same $100 million in export sales. Missing the 90-day election filing window requires a private letter ruling costing $35,000-$40,000 to fix, making it cheaper to just set up a new IC-DISC. The 60-day payment rule requires paying at least 50% of your estimated commission in cash or promissory note within 60 days of year-end to avoid disqualification. Setting up an IC-DISC with no par value stock is a fatal error that will cause the IRS to reject your election, regardless of everything else done correctly. A non-interest bearing bank account is essential because even $1.50 of interest income can disqualify your IC-DISC if no commission is paid that year. Export sales typically need to reach $3-5 million before an IC-DISC makes economic sense, though exceptions exist for businesses with exceptionally high profit margins.   Contact Details LinkedIn - Brian Schwam LINKSShow Notes Be a Guest About IC-DISC Alliance Brian SchwamAbout Brian TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Dave: Good morning, Brian. Welcome to the podcast. Brian Hey, good morning David. Good to be here. Dave: So I, I now refer to you as the Bob Hope of the podcast because I believe that Bob Hope holds the record for the most appearances on the Johnny Carson Show. So that's why you're like the Bob Hope of the podcast. You have more appearances than anyone else with today's appearance. Brian That's good company to be in if you're of a certain, if you're of a certain age. Dave: Yeah. And I'm not even sure you and I are quite old enough to even be of that certain age. Brian I probably never saw him on Johnny Carson. Dave: Yeah, me too. So this is an episode that was requested by a CPA of one of our clients who was retiring and he had a new. Partner taken over and he said, Hey Dave, can you send over a link to the episode that just goes through all the details of the IC disc from start to finish? And I'm like, well, we don't have that episode, but it's a great idea. So that's what's behind this. So let's start at the very beginning. Somebody calls you up and says, Hey Brian, I need an IC disc, or I want an IC disc. What's the very first step? Brian Very first step for me is to say why. Dave: Okay, Brian tell me about your business. Dave: Okay. Brian You know, do you have qualified export receipts? Do you have qualified export property? That those are very complex areas. And some people might think they do when they don't, and others might think they don't when they do. Dave: Okay. Brian And more likely than not, they heard about IC disc from. Somebody they met at a, you know, business leader meeting or something and somebody said, oh, hey, I have an IC disc. You should have one. Dave: Okay. Brian And not everybody can utilize one, but there's many out there that can utilize 'em that do not. Dave: Okay. And do you charge anything for that consultation? Brian No, because to me it's just a fact finding. Dave: Okay. So step one, figure out if their fact pattern warrants having an IC disc. Brian Right? Right. Well, it's, it's actually, that's one step. If you deter, if we determine that yes, an IC disc makes sense because they do have qualified export property, they do have qualified export receipts, then we have to talk about volumes. Because, you know, if you have 500,000 of export sales, most like more likely than not. Disc isn't gonna make sense. Dave: Economic sense when Brian you factor Right. Economic, the Dave: costs Brian not right. There's not enough benefit to offset the cost at that, at that level, most likely. Of course. It [depends on what, what it is they're selling. Dave: Sure. Do you have a rule of thumb you typically use? Is it like three or 5 million where it typically makes sense or every case Brian For most, for most businesses, that's sort of the range that where it starts to make sense, but there are always exceptions to that. Dave: Sure. Brian So like I had a client that had, you know, 600,000 of export sales, but their bottom line profit was 80%. Dave: Okay. Brian So in that instance, hey, it made sense, but for most companies that have 600,000 of export sales, it, it probably doesn't make sense. Dave: Okay. So let's say they have 5 million of exports, good margins, looks like it makes economic sense. What's the next step then? Brian Well then we talk about what is the tax structure of that exporting company? Is it a flow through entity? Is it a C Corp? And how is it owned? Sometimes [00:04:00] it's owned by a foreign company that makes things way more complicated. Okay. It's owned by a combination of different shareholders, some of which are individuals, some of which are corporations. So that can be complicated. And sometimes it's just a, it's just a pass through entity that's owned by, you know, let's say it's an S corporation that's owned by a family owned. Dave: Sure. Brian You know, so you, you can have a lot of different fact patterns and that will dictate a lot of things with, with respect. Dave: Okay. Brian To how the disc is organized. Dave: Might that also be the time? You inquire as to whether multiple discs might make sense for their structure, or do you typically just focus on kind of getting the initial disc in place and then exploring that over time? Brian Probably the latter. Dave: Yeah. Brian Initially I, you know, the goal is, you know, do you have enough activity? Do you have the right kind of activity? What kind of benefit is it that you think you can, we can get for you? And then, okay, if the answer to all those are in the positive, then it's like, okay, how should this disc be owned based on what we're trying to achieve and where should it be set up? Because that also can have a lot of negative surprises if you set it up in the wrong place. Dave: Yeah. So let's say and I think there's some rules of thumb like if if the. Exporting company is a C corp, you typically don't want the C Corp to own the disc, is that correct? Brian That is, that is correct. And that's because a C corporation pays tax on a dividend. It receives from the IC dis, so effectively there's no benefit. Dave: Okay. So with a C corp, typically it would be the individuals, individual or [individuals that Brian are Oh, the, the shareholders typically, Dave: yeah. Brian You know, possibly a management group could be involved as well, but typically we're talking about the shareholders of the C corporation. Dave: Yeah. And the shareholders of the disc do not necessarily have to mirror the shareholders of the C corp. Right. Brian That is sort of up in the air. I, I prefer that to be the case, but it doesn't have to be the case. Dave: Yeah, like in a simple example, census C Corp owned by one person and when they set it up, they wanna add a couple key employees to it. Brian Yeah. That, that, that's probably fine. You know, there's some old revenue rulings out there from the early 1980s that have a bad fact pattern, which the IRS held that the structure created gift tax issues, but that was like a mom and a dad and a son and a daughter, and mom and dad set up a disc and then gave the stock to the son and the daughter. And, and so that, that's, I see that's a bad fact pattern. What you described is a completely different fact pattern. There's no donative intent in that fact Dave: pattern. Yeah. Okay. In Brian fact, that I have a client that started out where the disc and the C Corp was. It did have mirror ownership, but over time, that has changed dramatically. But still, there's no donor of intent because we have all these unrelated families that own shares in the company in this quote company. And when there have been redemption opportunities over the years, they have the choice redeemed, the disc shares redeemed. The, the C corp shares redeemed them both. So some of like kept their dis shares, but gotten rid of the C Corp shares and vice versa. But really without the donative intent, plus some court case you know, precedent, I, I'm not [00:08:00] so concerned about that issue. Dave: Okay. Now let's switch gears and let's say it's a flow through an S-Corp partnership et cetera. Do you typically want the individuals to own it in that situation? Say that the company has three shareholders, would you just make them the three owners of the disc? More often than not, no. Okay. And why is that? Brian Because it, you get the same benefit by making the disc a subsidiary of the S corporation without some of the extra complexity associated with having the disc be owned by the shareholders. Now that, that's, that's preferred, but there are also situations where that doesn't make sense. Dave: Okay. Brian So let's say the, the S corporation is in California and the shareholder lives in Texas, or Florida. Or Nevada. Dave: Okay. Brian So they might want that dividend income flowing directly to them so that there's [00:09:00] no state Oh. So that there's no state income tax on the dividend. Dave: Sure, sure. Brian Okay. Okay. Yeah. So again, it's just another fact you need to uncover in the process of trying to figure all this out. Dave: Okay, so you've met with the client, you've figured out a disc makes sense, you've dug further you figured out the ownership structure of the disc. That makes sense. So then I guess you have to figure out where to incorporate, huh? Brian Yeah. And that again, there are good states and bad states. Dave: Okay. Brian Some states will tax an IC dis as a regular C corporation, you wanna avoid those states. Some states don't have an income tax at all, and those are good states to deal with. Dave: Okay. Brian And the three, you know, I'd say there's three states that are predominantly viewed as positive, and that would be Delaware, Texas, and Nevada. Okay. They're all fairly similar. For filing. And, and none of them have a corporate income tax on the dis so that's, that's all good in terms of not adding additional costs to the, the structure. Dave: Okay. So I'm in Texas and thus you, it seems like most of my clients end up incorporating in Texas. Do you just so here we are January 8th. We're recording this of 2026. So do you just do you just get around to doing it anytime before the end of the year and then you could use the disc the whole year? Is that how it works? Brian It's not how it works. It's generally a prospective opportunity. So you wanna get that entity formed as quickly as possible. Dave: Okay. Yeah. I've had people, I've heard [00:11:00] people say that if you don't do it on January 1st, you just have to wait till the next year. Brian No. That, well, that's certainly not true. And from any date forward that you set it up, you can certainly get benefits or shipments. Okay. That they, but one other item that I forgot to mention earlier, they also like to ask if the, if the related supplier entity, which is the exporter, if they're an accrual based company or a cash basis, Dave: ah, Brian that's an, that's an incredibly important issue Dave: Sure. Brian Dealt with. That's why. Dave: Okay. Brian Because the disc is an accrual base taxpayer by default. Dave: Yeah. Okay, we'll get into that when we get further around the, Brian okay. Dave: I think about when I was a kid, there was a, there was a Saturday morning TV series I think called schoolhouse Rock. And one of the episodes was how, how a bill becomes a Law [00:12:00] And there's the whole steps, the Brian episode, everybody remembers. Dave: Yep. Yep. So everybody our age at least. Okay, so you've got the disc set up and say you do it in Texas and let's say they make the decision January 8th, takes a few days to, you know, just kind of get stuff, you know, information from the client set up. And let's say you get it set up January 15th, so then they're good to go, huh? They can just start using that disc and away we go. Anything else? Ha. That has to be done Or is it, is it that some Brian on the, on the surface, yes, that's true. Dave: Okay. Brian But beneath the surface, there's other things that have to take place. Dave: Okay. What's the next thing that has to happen after you've formed the disc? Brian Well, you have a, there's a 90 day window to file a disc collection with the IRS. That's probably the most critical thing that has to happen. You have to file an actual paper form with the IRS to elect disc status for the company, because the company, when you set it up, it's just a corporation. Without that election, it's not a disc. Dave: And that election, is this the famous form 48, 76 dash a, is that said election, Brian famous or infamous in some cases, Dave: yes. Yeah. Okay. So you have to, so you just well, you just go to the IRS website. Download the form, send it in, bing, bam. Boom. You're done. You're good to go. Brian Not exactly. Dave: Okay. That's the Brian first Dave: step. Brian Skip. That's the first step. But the I mean, first of all, when you're setting up the disc, you have to make sure you incorporate it properly. Dave: Okay. Brian I kind of glossed over that. Dave: And what are some of the elements of proper incorporation? Brian Well, for example, when you go to a, the Texas website or any other secretary of State website to organize the company, because it can be done all online, [00:14:00] like the default is always, you know, no par value stock, right. Brian If you just select the default, you are going to have a problem because Okay. Dis rules require, you know, par or stated value of $2,500 on the, issued an issued an outstanding stock of, of the disk. So I had a client that came to me years ago. They had set up a company in, well, they used Wyoming, which is also possible to use, and it's not a bad jurisdiction. And they had, he had his quote unquote friend that who was an attorney, set it up for him. And there were some issues with the DISC collection and it went back and forth and then ultimately took a look at the articles of incorporation and it had, you know, $1 power stock, 1000 shares. Dave: Ah, that's a problem. Brian That's, [00:15:00] yeah. So no matter what happened with the disc election and the back and forth with the IRS, the disc election was ultimately never approved because the entity didn't meet the requirement. Having enough outstanding capital stock. So you have to have one and it can only have one class of shares. So there are, you know, there are some hoops you have to jump through in terms of not doing things incorrectly or doing things correctly. So you have to make sure there's one class of stock, $2,500 par value. There can't be foreign sales corporation in the same patrol group, which years ago was a big deal, but now it's not really a big deal because those have been gone for many years and almost nobody has one left. Not, not really an issue there. And what, you know, those are the formation matters that, that mattered, that are important to make sure you, you meet when you form the entity. Okay? If it's formed wrong, right from the get go, you have a problem. If [00:16:00] it's formed correctly, then the next step is yes, file a disc election. Dave: And, but before you file the disc election, there's a step we're missing, right? Doesn't the DISC election require. To put the corresponding EIN for the distance. Oh yes. I mean, I just assumed we, yeah, you obviously you have to apply for an ID number for the new entity that does not come automatically with the incorporation. Brian 'cause that's done with the state as opposed with the IRS yes. Dave: Yeah. And that's become more challenging. It used to be pretty easy to get an EIN you could apply under a corporate name or Brian yeah. But there, there's a, you know, there is an online portal with the IRS to get an EIN for a domestic company. So it's not, it's not Dave: terrible. Yeah. Brian It's not terrible. Dave: Yeah. So you have the EIN that you need for the 48 76 ae. Brian Right. Dave: You have you have 90 days, Brian you have the proper capitalization. Dave: Yeah. Brian You figured out who's gonna own the disc because the, the disc collection is. Signed, you know, it's not just made by the disc entity. It's made by the disc entity, then consented to by the shareholder. So you have to make sure that all that takes place. I can't tell you the number of times where somebody filled out part one, the disc signed it, and then the shareholder forgot the consent to it. And if you don't do the 48 76 dash eight correctly, you get it filed timely. It's an extremely expensive fix to try and get that Dave: rectified. Brian Generally, you have to try to get a private letter ruling, which will grant an extension of time to file the late disc collection. Dave: Okay. Brian And that's that's an expensive process. It's a 25 to $30,000 exercise to [00:18:00] file the private letter, really. Plus you have to pay a user fee to the IRS of 10,000, 11,000. Dave: Wow. Yeah. It seems that seems inconvenient at, at best. Brian And for most companies, they're better off just setting up a second dose Dave: Sure. Brian As opposed Dave: to process, Brian because how much volume there is. Dave: Yeah. Yeah. And I understand the IRS itself refers to these as a, a paper entity. So I guess since it's a paper entity, that's it. No need to fuss around with a bank account or actually have to capitalize it with actual money is there. Brian It's, it's recommended, but you're right, it's not required. There's no requirement in the disk rules to set up a bank account. Dave: Okay. Brian So there it could simply have. A receivable receiv for the capital stock. And that can be, its working capital doesn't have to have a bank account, but that's sort of a misnomer that people think it must have a bank account. Okay. In the original regulations, that was a requirement, but when the regulations are finalized, the requirement was removed. Dave: Okay. But practically speaking, it you probably wanna have a bank account. Brian Yes. Practically speaking, it makes all the sense in the world to have a bank account, a non-interest bearing bank account. Dave: And why is the non-interest bearing important? Brian Well, it, it has to do with one of the annual requirements of a disc. That 95% of its receipts have to be qualified export assets. I'm sorry, receipts. And so let's say in a year the company decides. You can't always decide not to use the DIS even though you've got it in place. So let's say the company says, well we're not gonna use the, this year we had a loss. In our business there's no using. Dave: Okay. Brian We say, okay, and then the DIS bank account earned a dollar 50 of interest income. Dave: Okay, Brian well 100% of the receipts are now not qualified receipts. Okay. Income and no other revenue. If there was a non-interest bearing bank account, it would just have no receipts and then it would be fine. But the earning, the dollar 50 of interest would disqualify that. Dave: Okay. So non-interest bearing account and then I guess the dollar amount in the bank account, what you start with, $2,500 initially. Brian Yeah, pretty much keep it there forever. Dave: But, but it doesn't matter if you end up, oh, if you're a little lazy and you forget to distribute all the money and you end up with 50 grand at the end of the year, that, that's not a problem, is it? Brian It is. Dave: It is. Everything's a problem Brian with you, Brian, because everything, 'cause the, these rules are draconian and everything can become a problem. So a commission dis anyway, a comm, [00:21:00] you know, a paper entity commission dis doesn't need $50,000 of working capital. And the IRS would hold that, that that's not a qualified export out. Like having too much working capital in DIS will cause it to fail. The other test, which is the 95 qualified export asset test 2,500, you know, an amount of cash equal to the capital stock is fine. Dave: Sure. Brian Amounts above that start to, you know, raise questions as to whether. That's reasonable working capital or not? Given that the entity's a paper entity, it doesn't really have any expenses. Maybe some bank fees. That would be about it. In most cases, it really doesn't need cash sitting. Dave: Yeah. Yeah. So maybe 3000, 3,500 to account for some bank fees or, Brian yeah, at most, yeah, we start getting about 5,000. It really starts to [00:22:00] look questionable. Dave: Okay. Oh, I just realized, I think in the initial assessment there was a step we forgot and that's, do they want to make it a buy sell disc or a commission disc? What percentage of your clients are commission discs? Mine a hundred percent. That's Brian 99%. Dave: Yeah. So we're just stepping ahead assuming that it would be a commission disc, Brian right. I mean, the only time you would really have a buy sell disc. 'cause if you have a business where. They're buying inventory from unrelated parties. And all the inventory is manufactured in the US and all of it is export. Dave: Yeah. Brian Okay. That, that, that I do have, like I said, two clients that have adopted that structure. One was commissioned disc with an S-corp and they converted, they merged the S-corp into the disc and just became an operating disc. You know, and that's a little different than a buy sell disc. I mean, an operating disc. People think of buy, sell dis an operating disc for the same thing. They're really not. I mean, 'cause you could have a, the equivalent of a commission disc, but have it be by sell where it could buy product from its related exporter and then export it. Dave: Okay. Brian It's possible that, that, that tho that fact pattern, I don't have any clients in. Dave: Okay. Brian It's possible. Dave: Okay. So we've got the election filed and then at some point the IRS will send the taxpayer letter approving the election, right? Brian Correct. That is, that was true. Dave: And then so we've got the, the B and usually it makes more sense to have the disc bank account at the same bank as the operating company, right? Brian It typically does, Dave: yes. Yeah. And we'll get into that when we get further into the operation of the disc. Okay. So it's all set up. And elections filed, election approved. So now certainly we're done with incorporation and government governance matters, right? Brian No. No, Dave: not yet. Brian Not yet. Not yet. Okay. We still have to make sure there's a a call, a related supplier agreement or disc commission supplier agreement in place between the, the exporting entity or entities and the disc itself. This document is, it's not, again, it's not required in the regulations, but it is recommended. It gives the related supplier a lot of flexibility in how it uses the disc and if it uses the disc and it gives it unilateral powers to decide not to use the disc. It also lays out the, you know, sort of boil legal boilerplate language about an inter intercompany agreement between the two business. Dave: So you could just go to chat GPT and have them spool up a one page sales agent agreement. Is that right? Brian Maybe. I don't know. I haven't tried that 'cause I don't wanna teach chat GPT how to, how to do that, but because every time you ask it a question, you teach it, right? Dave: Sure. Brian General, no, it's a pretty specific agreement and it has very specific provisions in it. Provisions and so somebody that knows what they're doing really needs to draft them. Dave: Okay. Okay. So this is kind of pointing away from just having your general corporate attorney who's never heard of a disc, do all that quote paperwork. Brian Yeah. I never recommend. I always recommend that a specialist do it, namely myself take care of it. Dave: Okay. Yeah. 'cause you are, in addition to having an accounting background, you're also a tax attorney, correct? Brian Correct. Dave: Correct. Okay. Brian Yeah. And you know, some of the documents that need to be created, yeah. That can be done by a general corporate attorney like bylaws and those as well and or other organizational documents that aren't disc specific can only be done by any attorney. But but if, but really it doesn't make sense to split that work up amongst different attorneys. Dave: Okay. Sure. Brian It all sort of be done by the same party to make sure that it's, that everything gets taken here. Dave: Okay. Brian And timely because there's a 90 day window to get this, in my opinion, to get this all done. Dave: Yeah, to co to coincide with the election filing. Brian Right. Because typically I don't provide any of the documents, including the election, to the, to the client until all these things are done. Dave: Yeah. Oh, I see. Sure, sure. Because then there's, Brian you know, they have to sign the disc election and there's all these other documents they need to sign and put in a minute book. And so rather than piecemeal it, we just give it to them all at once. Dave: Okay. So they've got their binder with all their signed documents or a signed copy of the 48 76 A that was filed a copy of the approval from the IRS. So now finally, are we ready to get started using our disc? Is there. Brian Collection the I. Yeah. As you've probably seen in the news, things are changing at the postal service as far as postmarks and what they can be relied on as when something was considered filed. So they're not promising the postmark things that they, you drop them in the mail anymore. Dave: Oh, really? Okay. I hadn't heard that. Brian Yeah. So it's recommended to go, like, walk it to a counter and have it hands stamped with [00:28:00] a postmark. Yeah. But more importantly, and unfortunately not everybody listens to this, send the form certified mail return receipt requested. 'cause many times document is sent to Kansas City and they lose track. Oh, we never got your dis election. We can't process your dis return, whatever. And then there's proof that it was sent and then they have to, you know, find it basically. Dave: Okay. Or Brian at least accept it, maybe even if they never find. Dave: Yeah. Brian But there's one other thing about the disc and that we didn't talk about and, and I'm reminded of it because something you asked me in passing last week, which is something about the year end of the disc, the year end of the disc must coincide with its principal shareholder. So if I have a C corp that's a fiscal year, but the owners of the disc aren't gonna be [00:29:00] individuals, that disc will be a calendar year disc. Dave: Sure. Brian Not be a fiscal year company. And you know, if. It's owned by, let's say an S corp that has a fiscal year, then the disc will have a fiscal year. It, it must have the same year as its principalship. Dave: Okay. Yeah. Good. Thanks for the reminder of that. Brian And sometimes the disc collection gets filled out incorrectly. Somebody assumes one thing and, and then when a return is filed, the IRS, they're like, they, they dunno what to do. Yeah. Yeah. Okay. Alright. Now finally, do we have a little bouncing baby disc to be delivered to its proud parents? I think so. Dave: Okay. Okay. Okay. Brian And that's usually, it's usually about three to five months after it was formed. Dave: Okay. Brian Is when it started eating solids. Dave: Okay. Alright, so now we've got the disc set up and 9:45 AM I'm, I'm sorry, I keep touching my watch and it says the time, apparently it's time to just take off my watch. Okay. So now, so let's just say that they have not yet set up the bank account. They've done everything else, and now it's time to set up the bank account so they, you know, call their local banker. They get it set up at the same bank, so it can be on the same online banking platform. And then they fund it. And does it matter where the funding comes, comes from for that bank account? Can they just like say the company. I mean, can just anybody fund it? Say there's three shareholders, can just one shareholder write a check for $2,500 to fund it? Or how does that all look? Brian Well, I mean, there, there will be a subscription agreement that shows how much each shareholder owes for their shares, and each shareholder should pay for them. Okay. Can't just be one. Dave: Okay. So we have the bank account set up, we're ready to go. And so now we're at the end of the year, or approaching the end of the year. Let's say we're in November of 2026. Anything we need to do before the end of the year Brian for an accrual based taxpayer? No. Okay. There's nothing paid to do, but before the end of the year. Dave: And what about for a cash basis? Brian For a cash basis, taxpayer, if we want a deduction in 2026. We need to pay the DIS in 2026, so Dave: we Brian would need to gather information in order to estimate a DIS commission for 2026 before the end of the year. Dave: Okay. So cash basis, that's what we need to do by the end of the year. Accrual basis. Basis, no. Do I need to do [00:32:00] anything by the end of the year? Brian You don't need to. You have an option to, if you'd like to, if you wanna have an idea of what the disc commission might be, or you actually wanna pay it before the end of the year, but there's no requirement. Dave: Yeah. And if you don't, and if you don't pay it by the end of the year, you get a deferral benefit Brian possibly. Dave: Yeah so say, say you did a hundred million of exports and your commission was $20 million. You just get to defer that whole thing till the next year, right? Brian No, Dave: no. Brian, all you say is No. Every good idea have you just say No. Brian It could defer 10% of it to the next year because only the income related to 10 million of export sales can be deferred, and it'd be a little less than 10% because the disc wasn't there the whole year. So we'd have to prorate that 10 million for the number of days the disc existed. And then some sliver can be deferred, but the rest of it is gonna be taxed to the shareholders as a deemed dividend Dave: in the current year. In the Brian current. Dave: Okay. Brian Then not taxed when physically distributed in the following. Dave: Okay, so we have an accrual tax payer. We get into the to 2027, and let's say they're extending their corporate return and they're planning to file that in August of 27. So we're done. We don't have anything else to do before August. Right? Brian That's not true either. Dave: Brian, Brian you're Dave: killing me. Brian Yeah, well, it, I mean, it depends. If nothing was done before the end of the year, then something needs to be done within the first 60 days after the accrual base taxpayer. Or, you know, let's say the cash base taxpayer says, I don't [00:34:00] care if I get my deduction next year, so I'm not gonna pay anything this year. Something needs to be paid at this within 60 days of the end of the year. Dave: So is this one of those things like the sales agent agreement, that that's just recommended? Brian No, this is required. Dave: Required. Okay. Brian Yeah. This is required. This is, this is one of the hot buttons the IRS will try to use to disqualify your disc. Dave: Okay. Brian So the disc accrues a receivable at the end of the year, even though it doesn't know the amount at the end of the year for all, for, for disc purposes and books an an accrual for the income at the end of the year. That accrual or the receivable is only a qualified export asset if, if the payment rules around that receivable or satisfy. Dave: Okay. Okay. Brian One Dave: rule Rules. Rules. There's always rules. Brian Yeah. It's very draconian. You have a 60 day rule and a 90 day rule. 60 day rule says you must pay a reasonable estimate of the disc commission to the disc within 60 days of the end of the year in cash or. It could be cash, it could be a note. Dave: And reasonable is just any old amount. You just put your finger in the air and ah, I think a hundred dollars is reasonable. Brian Again, that's not the case. There is a safe harbor for what is reasonable, and that safe harbor is f at least 50% of the final commission amount that you Dave: determine. But how do you know that in February Brian you have, Dave: if you're not preparing the corporate, Brian you have to try to compute an estimate before the end of FE Dave: and you have to nail it exactly at 50%. So if you think the commission's gonna be $1,217,412, you need to pay exactly 50% of that, Brian at least. [00:36:00] Dave: Oh, at least. So you could pay more. At Brian least you could pay more. And we always recommend maybe paying 75 to 80%. Dave: Okay. Brian Because if you pay whatever you pay. That amount is gonna be your limit. So if you thought it was gonna be a million and you paid 500,000 and it turns out to be 1,000,500, too bad. So sad, you only paid 500,000, you're capped at a million. Dave: Okay? I mean, that's the safe harbor. I suppose there might be circumstances where, where one could argue that they maybe the first year of the disc, and you know, they, they, Brian you can argue it, you can try to argue it, but there's no guarantee that the IS will accept any of the arguments. And the private letter rulings that exist from the 1970s would imply that they, they're really not going to accept just about any rationale for being reasonable other than that 50% bright [00:37:00] line safe harbor. Dave: Okay so you make the payment, Brian make that payment, and. Dave: Can you just book a journal entry? Do you, do you actually have to really move the money? It sounds like a hassle. Brian I mean, in, in general you have to, you have to either create a note or move cash. Dave: Okay. Brian Okay. Dave: But that might be a lot of money though. Like what if, what if it's like $2 million and million? The company only has a million dollars in the bank. Brian They could use the same capital multiple times. Dave: Oh, okay. Brian And roundtrip the money as many times as they need to, or like I said, use the, use the promissory note. Dave: Okay. Brian Short term promissory note to satisfy that requirement because it does say cash or property. Dave: Okay. So we get through February, we've made our, our 60 day payment. We've, we've, you know, sh sh we've, we, instead of doing 50%, we did about 80% of what we thought it was gonna be to give us some cushion, and now we can go take a vacation till the till the corporate returns ready. Brian Yeah. I, I, I think so. Dave: Okay. Brian I think so. Dave: Okay. So it's time to now. So it's time. Now, if they extend that corporate return, I guess they're gonna have to extend the disc return as well. Brian Well, the disc return is due September 15th as a matter of course. Dave: Oh, Brian are handy. There are no extensions. So really as far as the disc and its compliance goes, once you make that 60 day payment, there's really not much you can or should do or are able to do until the related entities tax return. Prepared. [00:39:00] So a lot of times they'll say, well, that's not gonna be done till September 15th, and we have to have a discussion about how that doesn't work because the disc return has to be done by September 15th, but in order to do the disc return, you need to basically a completed within it supplier returns. So then we have to work backwards from September 15th to figure out like when's the latest they can have that, that other return done in order Dave: to Brian get the disc return done. Now that's relatively easy in the past through context because all those pass through returns are also due September 15th on extension. Dave: Sure. Brian Whereas a C corporation, it's not so easy because the extended due date for a C corporation, if it's a calendar year is October 15th. So it may be that you have to file a disc return with a made up number on time and then amend it after. Okay. After September 15th. I've done that a number of times. Dave: Okay. So that makes sense. Brian Because as is good as CPAs are, they're deadline driven. So if a return is due October 15th, they're unlikely to have it done by the end of August. Dave: Yeah. Okay. So it's time to file the disc return. I assume the CPA firm probably has that disc return and their standard tax software with all the other forms. So you just have the CPA go ahead and prepare the disc return. I've looked at it, it's a short return. It's like 10 pages long. So you just go ahead and have the CPA prepare the disc return, then bing, bam, boom, you're done. Brian Could do that. Dave: Okay. Is there a drawback to doing that? Brian Yeah, it would probably be wrong. Dave: Okay. Why do you say that? Now, remember [Brian, we have a lot of CPAs who we have very good relationships with that we share clients, you know, saying that they're probably gonna do it wrong. I mean, heck, I don't really wanna annoy all my great CPAs we work with Brian Well, okay, but it, well, it's just a fact. It'll probably okay Dave: be Brian wrong because they might see one or two or three a year. They, they think they know what all the different terms on the district return mean, but they're not as familiar with that as they are with a S Corp return or a partnership return, or 1120. So they do what they think is right, and it may be right, it may not be right. So again, I, in my opinion, you want a specialist preparing the district return. Dave: Okay. Brian Okay. Because we know exactly how it's supposed to be filled out. And then if, if the calculation is done on a transaction by transaction [00:42:00] basis, there's this schedule P that gets attached to the return. Well, if you don't do a T by T, there's one Schedule P. If you do a T by T, there could be thousands of them. So I don't think CPAs and their software are equipped to complete thousands of schedule Ps and attach Dave: Yeah. Brian To the district. Dave: No, good point. And you're, you're getting your your enthusiasm to get to T by t had me, you got a little ahead of me. 'cause I was gonna ask, so client says, Hey, we have a desk. Our accounting department's busy. What's just the bare minimum of information we need to send you? What's the bare minimum? Brian Bare minimum would be qualified export sales. Dave: They just need to send you a number. Brian Yes. Dave: Then you take that number and how hard can it be? Right. Just take the, Brian it's not, it's not necessarily that hard at that point. Dave: Yeah. But say the profit on those sales [00:43:00] is the average profit of the company and taxable profit. And you compute the disc commission, you go through the Schedule P and compute the disc commission and pick the higher of the two numbers that you, that you compute. So you would just be like the final draft, corporate return and that total export number, you know, dollar amount for the year. And, and that's really all you need to, to do. That's Brian the bare bone. That's the bare bones, yeah. Dave: Okay. And that's what some people would call the standard calculation or a simple calculation, Brian I'd call it simple. Yeah. Dave: Okay. And that's also known as the 4% 50% calculation in some circles. Right. How does that work? Brian Well, it's also known as the safe harbor calculation in certain circles as well. Back to that, Dave: back to that safe harbor again. Brian Yeah. But that's actually not a safe harbor, so that's why I bring that up. Dave: Okay, well Brian that's the safe harbor calculation. I'm like, no, it's not. It's just the [00:44:00] calculation. There's nothing safe harbor about Dave: it. Okay. Brian Okay. It's just the rules that are found in the code and regs for computing and disc commission, and they're the two predominant methods. 4% of sales and the 50% of net profit, Dave: you just cherry pick whichever one works better. Brian Yeah, but the 4% method has limitations. So Dave: more limitations probably. Why? Why can't this just be simple? You said it was the simple calculation and now you're already telling me there's inherent complexity. Brian Even if it's simple, it's not totally simple. Dave: Okay. Okay, Brian so the, and I've seen this done wrong. Millions, well, not millions, hundreds of times, and I can say it is hundreds of times. Client computes the 4% method just by choosing 4% of sales. They don't look at what their net income is on the, on the [00:45:00] activity. They just say, oh, I'm allowed to use 4% of sales. The limit there is you cannot create a loss. There's something called the no loss rules. You can't create a loss with a disc commission if one doesn't already exist. So if the profit on, say, on the sales are 2% of sales, you can't take 4% of sales. You're limited to 2% of sales. And if, for example, you have a loss of the company, you're limited to zero. But I've seen situations where that's completely ignored. Dave: Okay? Brian Properly computed this commission of 4% of sales, but it should have been something less or possibly zero. Dave: Okay? So more complexity, but the good news, that's the extent of the complexity. One, schedule P, 4%, 50%, you know, make sure you, you don't create a loss. Now we're, we're all done. Pop. You [00:46:00] know what, what? Dusted and dusted and delivered we're, we're good to go. They've maximized their dis commission, right? And we're all done. They have a nice 10 page return to send to the IRS. Which by the way, can they file that electronically, that return? Brian Fortunately, there are no provisions for electronic filing of the disc return. It must be, Dave: what is this, the 1970s or something? Brian Pretty much Dave: Okay Brian with, with regard to the disc? Yeah. And, and some other forms. Yeah. But the, the, the benefit of that, here, I'll give you a benefit. The benefit of the fact that you must file a paper return is they can have an electronic signature on it. Okay. It doesn't have to have a wet signature. Dave: Okay? Okay. Brian So you could theoretically, for example, send your client the return using DocuSign, have them sign it. You print it, you file it for, Dave: okay. Okay. But, but now we're finally done. It's signed, it's done. And they say, boy, thank you very much, Brian. You've done, your team did a great job, and boy, I really appreciate, you know, we had 10 million of exports. We have all kinds of variability in our profit margins. And, but thank you very much. You, you created the amazing $400,000 or you calculated the 400,000 disc commission. Thank you very much. I couldn't imagine you went above and beyond. I couldn't imagine you could have done anything more. And then what do you say? Do you graciously say, oh, you're welcome. It was our pleasure. Brian I would graciously say, you know, we, we've just computed your minimum disc commission. Dave: Okay, Brian not your maximum. Because you have Dave: vast, lemme guess. Lemme guess. There's more complexity coming. Brian More complexity, which relies on more data being. Pulled from the client's [00:48:00] records to, to allow for a calculation of the DISC commission at a more detailed level, ideally at a line item by invoice level, Dave: line item. That sounds like a lot of work. Brian It can be. Can be a Dave: lot. What if the client says, our accounting department's busy? Sounds like we're gonna have to spend weeks gathering all this data for you. Eh, it's just, we're too busy, it's not worth it. What do you say then? Brian I gu I almost can guarantee you it will be worth it. Okay. Because looking at the detail is likely to cause at Disconnect commission to be anywhere from 50 to three, 400% higher than what it otherwise would've been. Now, unfortunately, in that first year, since you've already filed with a certain number, you're limited to two times what you paid in that 60 day window. But going forward. You know, there's no limit. Dave: Okay. Brian Whatever we compute can be your disc commission. So different industries have different amount of variability and t and transaction by transaction calculations have different impacts depending upon the industry, the profitability of the business, how many products they have, who they sell to. But it can vary. But I'll give you an example of one that we worked on recently where company had a hundred million of export sales. They took 4% of sales, and they've been taking 4% of sales year after year, after year, after year, after year, Dave: okay. Brian They brought us in like three weeks before the district return. Dave: Okay. Brian And we went through the calculations and we actually calculated 17 million Dave: as opposed to 4 million. Brian As opposed to four. Dave: [00:50:00] Yikes. That's a big difference. Brian It's a huge difference. And fortunately they were, you know, well, I mean they were very pleased with the result. And so now on a going forward basis, we're not doing 4% of sales. Dave: Okay? But you still have this. But if they were able to get a $17 million commission, then that means their corporate taxable income must have been at least 17 million. 'cause didn't I hear you say the disc commission cannot cause a loss. Brian It cannot cause a loss at the level at which you're computing the commission. So there's no, you're killing me, Brian. Just more complexity. Yeah. Well, it's very complex area. There's, there's no overall no loss rule. Like if you, you can, as long as you're meeting the rules as they're written, you can cause your entity to go into a loss position. Now, this particular instance, it did not do that, but [00:51:00] you could do that. Dave: Okay. And then if you get into a loss position, there are other non disc complexities that come into play that impact whether you want to maximize the loss in that entity or you want to target a particular loss in that entity. And that's not something that we get involved with, but we're certainly sensitive to it. Sure. Sure. And so you're saying for this client, even though I've heard some people say you've got the simple calc and then the hard calc. And so you'd wonder why would anyone do the hard calc? Well, it's because their commission went from 4 million to 17 million, which saved them hundreds of thousands of dollars. You created hundreds or millions of dollars with additional tax savings. Brian Right, right. Dave: Okay. Brian And by the way, after the first conversation we had with them, they said, oh [00:52:00] yeah, this is not something we can do. The accounting department said, this is not something we can do. Then the owner said, this is something you're gonna, Dave: it's funny how that, how that works. Okay. And then I'm guessing this extra work. You, you're probably gonna have to create another schedule P or two. So now the disc return, it's gonna be 10 pages. It's what? 20 pages? Is that kind of a typical page count? Brian No, it could be Dave: no. Brian Thousands of pages. Dave: Thousands. I mean, Brian, a ream of paper is 500. So thousands would be reams of paper. Brian Yes. I've had some returns that have like 15 binders of paper. Dave: Yikes. Brian Yeah. Just goes in a big box and I'm sure the IRS types, all those schedule Ps into their, Dave: I'm sure they do. Okay. So the return gets filed, so the return's ready. You take that box, you just slap a you print off a postal label online, drop it off at the post office. And you're done, right? You just give it to carrier, Brian understand, Dave: carrier, carrier your house or whatever. Brian Well, you can send it via FedEx. You can send it via UPS. And actually, in some ways, I think that might be better these days than the postal service. Dave: And why do you have to do that? Can you just slap, I mean, if you have your 15 binders, couldn't you just put a hundred stamps, you know, on the, the box and ship it in because they'll get it, right? I mean, it's not like they're gonna lose it or anything. Brian They might, they could very well lose it. And you definitely want proof of delivery and you want proof of mailing. So again, it's a certified mail if you're using the postal service or if you're using a private carrier like FedEx, you know, you get all that documentation about when it was shipped and when it was delivered.[00:54:00] Dave: Okay, well now at least we're finally done. Right? You ship it off. The CPA pulls the numbers from the disc return, puts it on the corporate and shareholder returns. Now we're done. It's gone to the IRS. We never have to think about it again. Right. Brian I'm not sure if that's a trick question or not, but in some ways that could be true, Dave: right? Yeah. But it, but I guess you could get audited, right? Brian Could get audited by an agent who has no idea what they're doing, which is typically the case. Dave: So that's why you want your CPA defending you in that case. 'cause then it's like the blind leading the blind. Brian No, I think it's better if someone with site is involved. So again, the specialist who did the disc work should represent the taxpayer or be involved with the representation of taxpayer in the case of the audit. Dave: Okay. Brian And the should be involved. Because really what's under, what's really in question is the [00:55:00] deduction on that entity's tax return. The dis itself doesn't pay tax. So they rarely audit a dis quote. Dave: Okay? So if I break it down, you to do it really right? You need a specialist to guide you on the initial structure of the disc. You need another specialist to set up the, the disc. You need another specialist to do all the paperwork, make sure the document's correct another specialist to prepare the return, and then another specialist to defend you. So is that about right? So do you need like five different people to make sure everything's done right? Brian? Isn't there some way that you could just have one person that could just do it all for you and be done with it? Brian Well, of course. Dave: Okay. Finally, finally, I get a simple answer, Brian right? So if you, if you engage a disc specialist, that [specialist should be able to do all that. Dave: Okay? Brian Okay. Now, not every disc specialist is created equally. Dave: Sure. Brian You know, I brought up during our conversation that there are some non disc things that can also add complexity to the situation. Not every disc specialist will be sensitive to those things. Not every disc specialist will understand those things. So the benefits that like our organization brings is that. Least myself in particular, I didn't always just do IC disc work. I, I, I have a well-rounded knowledge of all of the, of the tax world. And so I am sensitive to non disc things. You know, for example, you know, another example, oh, a company has a lot of export sales. You would think it's a no brainer. They should have a dis, they should use the dis. They should, they, they should want to convert that ordinary income to qualified dividend [00:57:00] income. Well, what if the S-corp is owned by an ebit? What if there are passive shareholders? All of those things impact whether the disc commission actually helps or hurts their tax situation. And I would get, I would venture a guess that, you know, if you went out and Googled, you know, I see this specialist, you would find a handful. At most that understand all that stuff and how all it all interplays together as opposed to the multitude of those that won't understand any of it. Dave: Okay. Brian So I think a, a disc specialist that is sensitive to all the other tax rules is, is definitely something that is valuable. Dave: And you probably want someone with some experience who's done maybe, you know, what a dozen disc returns in their career, maybe 50 if they're really good. Like how many, how many have we done organization wide? Probably Brian probably 10,000. Dave: 10,000? Well, that's a lot more than 50. Brian Yes. Over the years it's probably close to that number. And we've probably claimed billions of dollars of just deductions and saved clients, hundreds of millions of dollars of tax. And, and I'm proud to say that every dollar we've ever claimed we've. Okay. Dave: So Brian I've never had an adjustment from the IRS. Dave: Well, that sounds like a, a good a good record. So bottom line, Brian that's, that's the best you can come up with a good record. I'd say it's Dave: well, I didn't wanna say a perfect record. I didn't want to jinxy. Brian No, but it's, it's, it's, it's pretty outstanding record. Dave: Yeah. It's a, it's an impressive record Brian because there are also just providers out there that say, well, you know, Dave: it's the Wild West. Brian The wild west, the IRS doesn't really understand it, so let's be as aggressive as possible. And, and that's not the way we approach it. Dave: Yeah. Wow. Well, this has been this has been a lot. So really it's that simple. So the person who wants to just do all this themselves, we've laid out the whole playbook for them. Brian Yeah. The only simple thing they have to do is call us. Dave: There you go. That is it. Yeah. And, and oh, the other thing, not only are you the Bob, hope you now have moved from number two to number one for the most experienced icy disc guy. I know now that Neil Block is retired. Brian Well, that's, I don't know if that's a plus or not. Whether I'll take it just means I've been doing it a long time myself. So Dave: yeah, Neil was, I think my second, first or second guess. And and I was just happy. 'cause his billing rate back then was like $1,500 an hour. I was just glad I didn't get a bill a month later for him being on the podcast. But he, [01:00:00] he did it for exactly 50 years at one firm, baker and McKinsey in Chicago. He had one office, one phone number, like the whole 50 years. Brian Yeah. That's, Dave: that is something you don't see much anymore. Brian Definitely not, no. It's, but it's very, that's. That's very cool. And Neil is a very, you know, is a very intelligent savvy guy. Dave: Yeah, that is for sure. Well, Brian, anything else that we didn't cover that you can think of? Brian I can't think of anything. I think we covered a, a great deal here. Dave: Okay. Brian Can't think. Dave: Well, I, I'll let Brian we omitted. Dave: Well, great. Well, hey, thank you so much for your time. Really appreciate it. And I'll let you get back to your, your exploration of your yard there. Brian Yeah. I feel like, it's funny I shrunk the kids. Dave: I know. Well, hey, well, well again, thanks again, Brian. We all appreciate your time. Brian You're welcome. Have a good day. Dave: You too.

Join us as we welcome on Dan Mulleary to discuss all things Pytas, importing, and exporting.Follow: Zac Loughman https://www.instagram.com/dr_crawdad/On FB https://www.facebook.com/zac.loughmanClint Bartley @ IG: MetazoticsLLC FB: Metazotics Website: metazotics.com Patreon: https://patreon.com/ColubridandColubroidRadioDiscord: dicord.gg/ccradioExo-terra https://exo-terra.com https://linktr.ee/exoterrausa MPR Network FB: https://www.facebook.com/MoreliaPythonRadioIG: https://www.instagram.com/morelia_python_radio/YouTube: https://www.youtube.com/@mprnetwork5623Swag store: https://teespring.com/stores/mprnetwork ★ Support this podcast on Patreon ★

https://youtu.be/70azaXOhjpIhttps://odysee.com/@NaomiBrockwell:4/PGP:4Email is closer to a digital postcard than a sealed letter, and mainstream providers like Gmail read and analyze everything that's inside. Unfortunately, email isn't going anywhere in our society because it's baked into how the digital world communicates; but luckily there are ways to make your emails more private. One tool that you can use is called PGP. In this video, I'll explain what PGP is, and show you how providers like Protonmail make it super easy to encrypt the contents of every email you send.00:00 Email Was Never Built for Privacy00:50 What is PGP02:17 How PGP Works06:43 Proton Tutorial07:03 In-Network Emails07:42 Out-of-Network Password Protected Emails09:00 Out-of-Network PGP Protected Emails10:37 Importing PGP Keys11:49 Exporting and Sharing PGP Keys12:35 How to Share Your Public Key14:56 Phil Zimmerman and The Ludlow InstitutePhil Zimmerman said in his original PGP user guide text “Why I Wrote PGP” in 1991 that: “PGP empowers people to take their privacy into their own hands. There has been a growing social need for it". That statement remains even more resounding today. The builders of privacy tools risk a lot in order to create the tools that protect us all. It's up to us to use them. Phil Zimmerman Text “Why I Wrote PGP”: https://philzimmermann.com/EN/essays/WhyIWrotePGP.htmlMy Interview with Phil Zimmerman:https://www.youtube.com/watch?v=NciVkd6ddPoSpecial Thanks to Phil Zimmerman for his mentorship and advisory role at the Ludlow InstituteBrought to you by NBTV team members: Lee, Derek, Will and Naomi.NBTV is a project of the Ludlow Institute, a 501c3 non profit whose mission is to advance freedom through technology.To support NBTV, visit:https://LudlowInstitute.org/donate(As a 501(c)(3) non profit, all donations are tax-deductible in the USA as permitted by law.)Visit our shop!https://Shop.NBTV.mediaOur eBook "Beginner's Introduction To Privacy:https://amzn.to/3WDSfkuBeware of scammers, I will never give you a phone number or reach out to you with investment advice. I do not give investment advice.Support the show

Guest: Alan Tonelson. China's leadership is likely stunned by setbacks with allies in Venezuela and Iran. While Chinarelies on coal, the loss of cheap oil imports will squeeze its industry. Furthermore, China's strategy of exporting its way out of trouble faces backlash from foreign markets protecting their own manufacturers.1945 OCTOBER 10

In this episode, Mike Babbitt from Synovus is on the podcast to talk about the inherent risks associated with importing goods, and how you can reduce that risk especially when starting with new suppliers. He shares various strategies to illustrate these challenges, and the importance of understanding the international trade landscape.   Mike Babbitt, Synovus's Head of Trade and Supply Chain Finance Origination, is on the podcast today to talk about the various risks that importers (and exporters) are facing in 2025 and 2026 and how you as an importer can protect yourself when importing.    Mike also talks about the various trends he's observed over the years and how we're slowly moving to a "just right" inventory model.    If you're looking to expand your product portfolio with new suppliers, this episode may be for you.    Timestamps 00:00 - Introduction to International Trade and Sonovus Bank 02:56 - Understanding Risks in Importing and Exporting 05:55 - Mitigating Risks with Letters of Credit 09:02 - Practical Scenarios for Using Letters of Credit 11:55 - Exploring Trade Financing Mechanisms 14:57 - Current Trends in Importing and Exporting 17:54 - Reconfiguring Supply Chains and Reshoring 21:06 - Economic Outlook and Consumer Confidence 24:01 - Conclusion and Contact Information Mike, thanks for coming on the podcast. If you'd like to reach out to Mike, you can check him out on his LinkedIn page here.   As always, if you have any questions or anything that you need help with, leave a comment down below if you're interested.   Don't forget to leave us a review on iTunes if you enjoy our content.   Thanks for listening!   Until next time, happy selling!

The Extradition Bill 2025 is making its way through the legislative process and for all but a handful of people its impact on our lives will be minimal. So why do we need this legislation? Well, according to the notes on the Bill, no one should be able to escape justice simply by crossing a border, and our current extradition law relies on a largely repealed piece of dated UK legislation. In other news the electricity inter-connector is 25 years old and during its life 25 billion units of electricity have been exported to the UK providing the MUA with an £80 million profit. Exporting electricity and criminals - some good news at last.

Filip Hrůza speaks with Troy Mix, Associate Director of the University of Delaware's Institute for Public Administration (IPA), about the thirteen-year partnership between their institutions, the adaptation of the "Delaware Model" of public service education (https://www.udel.edu/academics/colleges/biden-school/) to the Czech context, and the creation of "MuniLab" to engage students with practice. They also discuss the unique characteristics of Brno and the South Moravian region and the vital role universities play as a bridge between academic research and public administration practice. Filip Hrůza is the Director of the Institute for Public Administration and a member of the Department of Public Economics at the Faculty of Economics and Administration at Masaryk University in Brno, Czech Republic (https://www.econ.muni.cz/en). He focuses on connecting academic theory with public sector practice through initiatives like organizing conferences on inter-municipal cooperation and MuniLab, which engages students with public administration practitioners. He has worked for over a decade to adapt the University of Delaware's Legislative Fellows program and other public service models to strengthen local governance and public administration education in the Czech Republic. This episode was recorded on November 24, 2025, for First State Insights, a podcast presented by the Institute for Public Administration (IPA). For more First State Insights episodes, visit https://soundcloud.com/first-state-insights or search for "First State Insights" wherever you listen to podcasts. IPA is a research and public service center within the University of Delaware's Biden School of Public Policy & Administration. For more on IPA, visit https://www.bidenschool.udel.edu/ipa. Opening and closing music: "I Dunno" by Grapes, used under Creative Commons 3.0 License.

On Hands-On Tech, helps out helps listener Daniel switch their MFA from Authy to another app, and explains why it's going to be a more tedious process than with other MFA's. Don't forget to send in your questions for Mikah to answer during the show to hot@twit.tv! Host: Mikah Sargent Download or subscribe to Hands-On Tech at https://twit.tv/shows/hands-on-tech Want access to the ad-free video and exclusive features? Become a member of Club TWiT today! https://twit.tv/clubtwit Club TWiT members can discuss this episode and leave feedback in the Club TWiT Discord.

On Hands-On Tech, helps out helps listener Daniel switch their MFA from Authy to another app, and explains why it's going to be a more tedious process than with other MFA's. Don't forget to send in your questions for Mikah to answer during the show to hot@twit.tv! Host: Mikah Sargent Download or subscribe to Hands-On Tech at https://twit.tv/shows/hands-on-tech Want access to the ad-free video and exclusive features? Become a member of Club TWiT today! https://twit.tv/clubtwit Club TWiT members can discuss this episode and leave feedback in the Club TWiT Discord.

On Hands-On Tech, helps out helps listener Daniel switch their MFA from Authy to another app, and explains why it's going to be a more tedious process than with other MFA's. Don't forget to send in your questions for Mikah to answer during the show to hot@twit.tv! Host: Mikah Sargent Download or subscribe to Hands-On Tech at https://twit.tv/shows/hands-on-tech Want access to the ad-free video and exclusive features? Become a member of Club TWiT today! https://twit.tv/clubtwit Club TWiT members can discuss this episode and leave feedback in the Club TWiT Discord.

On Hands-On Tech, helps out helps listener Daniel switch their MFA from Authy to another app, and explains why it's going to be a more tedious process than with other MFA's. Don't forget to send in your questions for Mikah to answer during the show to hot@twit.tv! Host: Mikah Sargent Download or subscribe to Hands-On Tech at https://twit.tv/shows/hands-on-tech Want access to the ad-free video and exclusive features? Become a member of Club TWiT today! https://twit.tv/clubtwit Club TWiT members can discuss this episode and leave feedback in the Club TWiT Discord.

On Hands-On Tech, helps out helps listener Daniel switch their MFA from Authy to another app, and explains why it's going to be a more tedious process than with other MFA's. Don't forget to send in your questions for Mikah to answer during the show to hot@twit.tv! Host: Mikah Sargent Download or subscribe to Hands-On Tech at https://twit.tv/shows/hands-on-tech Want access to the ad-free video and exclusive features? Become a member of Club TWiT today! https://twit.tv/clubtwit Club TWiT members can discuss this episode and leave feedback in the Club TWiT Discord.

The government says it's making it easier for Kiwi exporters, by reducing trade barriers affecting $600 million worth of exports. Trade Minister Todd McClay spoke to Corin Dann.

NCBFAA Transportation Committee Spotlight: 2025 Wins, 2026 Priorities & Industry Insights Host: Lalo Solorzano Guest(s): Kim Calicott — NCBFAA Transportation Committee Chair - LinkedIn Rich Roche — NVOCC Subcommittee Chair - LinkedIn Donna Kavanaugh — Export Compliance Subcommittee Chair- LinkedIn Published: November 26, 2026 Length: ~ 44 min. Presented by: Global Training Center — globaltrainingcenter.com Episode Summary In this special collaboration with the National Customs Brokers & Forwarders Association of America (NCBFAA), Simply Trade launches a multi-episode series highlighting the critical work of NCBFAA committees. This episode features the Transportation Committee, covering NVOCC activity, export compliance, air freight, logistics, and the evolving regulatory landscape. Host Lalo Solorzano speaks with committee chair Kim Calicott, along with subcommittee leaders Rich Roche (NVOCC) and Donna Kavanaugh (Export Compliance). The group breaks down the major wins and challenges of 2025, key regulatory shifts, and what members should expect heading into 2026. Key Learnings & Themes 1. Transportation Committee Overview Kim explains the structure of the Transportation Committee and its four subcommittees: NVOCC Subcommittee (Rich Roche): Guidance on OSRA, FMC rulemaking, D&D billing, “clear as mud” interpretations, and a forthcoming NVOCC Best Practices Working Group. Export Compliance Subcommittee (Donna Kavanaugh): Monitoring regulatory activity from BIS, OFAC, Census, CBP, and DDTC while educating members on practical impacts. Air Freight Subcommittee (Donna Mullins): Infrastructure modernization efforts, partnership with the Airforwarders Association (AFA), and involvement in a GAO study on air cargo facility conditions. Logistics Committee: Watching driver shortages, truck/equipment tariff impacts, Electronic Export Manifest (EEM) development, and alignment with international systems like ICS2. 2. 2025 Regulatory Swing Highlights include: FMC's D&D Final Rule implementation and the section struck down by the courts. BIS tightening China-related controls and reevaluating rules inherited from prior administrations. Pause on the significant Affiliates Rule, which may reemerge in 2026. Changing rules related to firearms, AI, and Syria sanctions. “Clear as mud” advisory responses from FMC's General Counsel. 3. Advocacy That Makes a Difference NCBFAA's early engagement with agencies prevents harmful regulatory outcomes—such as removing unintended burdens on NVOCCs in OSRA's original wording. 4. Encouragement for New Participants Both Kim and Donna stress: No one starts out knowing everything Every question matters Committee involvement accelerates growth and strengthens the industry The association thrives on collaboration across company size, mode, and experience level 5. Looking Ahead to 2026 Key upcoming items include: Launch of the NVOCC Best Practices Working Group Ongoing work on EEM and air cargo modernization BIS rule reviews after the Affiliates Rule pause Continued focus on driver shortages and equipment tariffs NVOCC Day 2026 in New Orleans on January 22 Takeaways for Listeners NCBFAA membership is valuable for all trade professionals—brokers, forwarders, logistics providers, and affiliates. Exporting remains highly regulated and rapidly evolving—missteps can be significant. Committee participation is one of the most impactful ways to deepen knowledge and support industry-wide improvements. Agencies are shifting priorities quickly; staying informed is essential. Resources Mentioned Here are all referenced agencies, programs, and industry groups with embedded official links: NCBFAA & Industry Associations NCBFAA — ncbfaa.org Airforwarders Association (AFA) — airforwarders.org Government Accountability Office (GAO) — gao.gov Regulatory Agencies Federal Maritime Commission (FMC) — fmc.gov Bureau of Industry and Security (BIS) — bis.doc.gov Office of Foreign Assets Control (OFAC) — home.treasury.gov/policy-issues/ofac U.S. Census Bureau (AES/Exports) — census.gov/foreign-trade/aes U.S. Customs and Border Protection (CBP) — cbp.gov Transportation Security Administration (TSA) — tsa.gov Directorate of Defense Trade Controls (DDTC / ITAR) — pmddtc.state.gov Regulations / Programs OSRA – Ocean Shipping Reform Act — FMC OSRA Overview Demerage & Detention (D&D) Final Rule — FMC Rulemaking Electronic Export Manifest (EEM) — CBP EEM Information ICS2 – EU Import Control System 2 — European Commission ICS2 Credits Host: Lalo Solorzano — Global Training Center Guests: Kim Calicott — LinkedIn Rich Roche — LinkedIn Donna Kavanaugh — LinkedIn Presented by: Global Training Center — Website / LinkedIn Subscribe & Follow YouTube: Simply Trade Channel Spotify: Simply Trade on Spotify Apple Podcasts: Simply Trade on Apple Podcasts Cindy Allen (The Taylor Swift of Trade): LinkedIn Trade Geeks Community: Join Trade Geeks

CONTINUED MARY KISSEL. China dilemma involves whether to treat Beijing as a legitimate trading partner or an enemy narco-terrorist state responsible for exporting fentanyl precursors, with Kissel suggesting current US policy is confused and benefits the CCP.

China's rapid ascent from rural poverty to industrial superpower reshaped the global economy and established a new center of gravity for manufacturing. Today, Chinese factories anchor much of the world's supply chains, producing goods at a speed and scale that few countries can match. Behind this transformation is a system that author Dan Wang describes in his new book "Breakneck: China's Quest to Engineer the Future" as the "engineering state," a model defined by massive investments in infrastructure, strategic planning, and so-called "process knowledge" gleaned from the country's rapid industrial development. Now, more and more, the Chinese government touts this development model as an example for other countries in the Global South to emulate. Dan joins Eric to discuss whether the so-called "engineering state" is replicable elsewhere or if it's a uniquely Chinese phenomenon. CHAPTERS: • Setting the Stage – China's rise from rural poverty to industrial superpower • The Engineering State – How China builds, plans, and organizes at a massive scale • Roots of the Model – East Asian development traditions and Soviet legacies • Infrastructure as Strategy – High-speed rail, bridges, airports, and the costs behind them • Industrial Capacity – Manufacturing clusters, supply chains, and process knowledge • The Speed Advantage – Why Chinese firms move faster than global competitors • Tech Transfer Debates – Joint ventures, old IP, and myths about forced transfers • Subsidies and Support – What Chinese industrial subsidies do—and what they don't • Exporting the Model – Limits of replication in Africa, Asia, and the Global South • The China Price – How scale, logistics, and workforce learning lock in dominance • Internal Tensions – Debt, underused infrastructure, and diminishing returns • Shifting Priorities – Xi's push away from consumer tech and toward strategic industries • Global Backlash – Overcapacity, trade pushback, and rising protectionism • Future Crossroads – Why China's development engine is losing momentum • Lessons for the Global South – What countries can adapt—and what they must avoid JOIN THE DISCUSSION: X: @ChinaGSProject | @eric_olander  Facebook: www.facebook.com/ChinaAfricaProject YouTube: www.youtube.com/@ChinaGlobalSouth Now on Bluesky! Follow CGSP at @chinagsproject.bsky.social FOLLOW CGSP IN FRENCH & SPANISH:  French: www.projetafriquechine.com | @AfrikChine Spanish: www.chinalasamericas.com | @ChinaAmericas JOIN US ON PATREON! Become a CGSP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CGSP Podcast mug! www.patreon.com/chinaglobalsouth

China's rapid ascent from rural poverty to industrial superpower reshaped the global economy and established a new center of gravity for manufacturing. Today, Chinese factories anchor much of the world's supply chains, producing goods at a speed and scale that few countries can match. Behind this transformation is a system that author Dan Wang describes in his new book "Breakneck: China's Quest to Engineer the Future" as the "engineering state," a model defined by massive investments in infrastructure, strategic planning, and so-called "process knowledge" gleaned from the country's rapid industrial development. Now, more and more, the Chinese government touts this development model as an example for other countries in the Global South to emulate. Dan joins Eric to discuss whether the so-called "engineering state" is replicable elsewhere or if it's a uniquely Chinese phenomenon. CHAPTERS: • Setting the Stage – China's rise from rural poverty to industrial superpower • The Engineering State – How China builds, plans, and organizes at a massive scale • Roots of the Model – East Asian development traditions and Soviet legacies • Infrastructure as Strategy – High-speed rail, bridges, airports, and the costs behind them • Industrial Capacity – Manufacturing clusters, supply chains, and process knowledge • The Speed Advantage – Why Chinese firms move faster than global competitors • Tech Transfer Debates – Joint ventures, old IP, and myths about forced transfers • Subsidies and Support – What Chinese industrial subsidies do—and what they don't • Exporting the Model – Limits of replication in Africa, Asia, and the Global South • The China Price – How scale, logistics, and workforce learning lock in dominance • Internal Tensions – Debt, underused infrastructure, and diminishing returns • Shifting Priorities – Xi's push away from consumer tech and toward strategic industries • Global Backlash – Overcapacity, trade pushback, and rising protectionism • Future Crossroads – Why China's development engine is losing momentum • Lessons for the Global South – What countries can adapt—and what they must avoid JOIN THE DISCUSSION: X: @ChinaGSProject | @eric_olander  Facebook: www.facebook.com/ChinaAfricaProject YouTube: www.youtube.com/@ChinaGlobalSouth Now on Bluesky! Follow CGSP at @chinagsproject.bsky.social FOLLOW CGSP IN FRENCH & SPANISH:  French: www.projetafriquechine.com | @AfrikChine Spanish: www.chinalasamericas.com | @ChinaAmericas JOIN US ON PATREON! Become a CGSP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CGSP Podcast mug! www.patreon.com/chinaglobalsouth

Nolan Gray — Senior Director of Legislation and Research at California YIMBY — is in good traffic this week for a discussion on how the state with America's biggest housing problem has become a national leader in reforming the rules of the built environment. California is often treated as both a cautionary tale and a blueprint — derided for its crises yet envied for its innovation. Nolan walks us through California's last decade of housing policy evolution — from failed early bills like SB 827 and SB 50 to seismic wins like SB 79, which legalized mid-rise multifamily housing near transit, and AB 130, which exempted infill housing from certain environmental reviews. He explains how bipartisan coalitions, local data, and a willingness to rethink outdated laws like CEQA have made real change possible.We also touch on: Why density is environmentalism. The cultural paradox of Los Angeles and car dependence. How Sacramento quietly became California's model midsized city. The future of transit funding and infill development. Lessons from working across political divides to make housing work. How storytelling and communication shape real policy progress.Timeline:00:00 The nuance of California.01:15 The contradictions of California's reputation.02:29 Economic powerhouse, housing failure.04:21 Newsom, YIMBYs, and the new momentum.05:20 Nolan Gray.07:23 California's housing crisis explained.08:47 Why families are leaving the state.09:51 The political wake-up call.10:12 Origins of recent SBs.11:33 Early lessons from failed reforms.12:24 The ADU revolution.13:20 Environmental review reform (AB 130).14:17 Construction costs and the next frontier.15:11 Inside the CEQA reform victory.20:02 Rethinking “environmentalism” in housing.22:47 How CEQA became weaponized.24:20 The irony of “greenfield” development.25:40 Real environmentalists vs. procedural ones.26:09 Bridging divides across California.27:37 Exporting the housing crisis inland.28:18 Bipartisan coalitions and shared values.29:28 Property rights and family housing narratives.30:14 SB 79 as a national model.31:14 The transit funding question.32:18 Transit agencies as landowners.33:02 Revenue models for sustainable transit.33:47 Building costs and American inefficiency.34:31 Transit as geometry, not ideology.35:14 The LA paradox.36:08 Car culture as identity.37:23 Angelenos waking up to change.38:38 Sacramento's quiet leadership.45:34 Practical vs. theoretical planning.47:20 UCLA and the civic responsibility of planners.48:06 Donald Shoup's influence.50:33 Communicating policy and nuance.52:24 The gap between research and perception.53:05 Policy storytelling and responsibility.54:16 How to make complexity accessible.55:06 Why housing reform depends on communication.56:22 Wrapping up.For context:Read Nolan's work on Substack.On SB79.On CEQA.California YIMBY.Nolan's book, on zoning.

Why Russia Stopped Exporting Its Gold As countries continue to turn to gold, the countries that used to export their gold aren't doing so anymore. Of course there's a reason why, and Vince Lanci reveals what it is in today's morning show. So to find out more, click to watch the video now! - To get access to Vince's research in 'Goldfix Premium' go to: https://vblgoldfix.substack.com/ - Get your free copy of Arcadia's Silver Report here: https://goldandsilverdaily.substack.com/p/arcadia-silver-report-an-overview - Get access to Arcadia's Daily Gold and Silver updates here: https://goldandsilverdaily.substack.com/ - Join our free email list to be notified when a new video comes out: click here: https://arcadiaeconomics.com/email-signup/ - Follow Arcadia Economics on twitter at: https://x.com/ArcadiaEconomic - To get your copy of 'The Big Silver Short' (paperback or audio) go to: https://arcadiaeconomics.com/thebigsilvershort/ - Listen to Arcadia Economics on your favorite Podcast platforms: Spotify - https://open.spotify.com/show/75OH2PpgUpriBA5mYf5kyY Apple - https://podcasts.apple.com/us/podcast/arcadia-economics/id1505398976 - #silver #silverprice #gold And remember to get outside and have some fun every once in a while!:) (URL0VD)Subscribe to Arcadia Economics on Soundwise

SPONSORS: 1) RIDGE: Take advantage of Ridge's Biggest Sale of the Year and GET UP TO 47% Off by going to https://www.Ridge.com/JULIAN #Ridgepod 2) TRUE CLASSIC: Upgrade your wardrobe and save on @trueclassic at https://trueclassic.com/JULIAN ! #trueclassicpod PATREON: https://www.patreon.com/JulianDorey (***TIMESTAMPS in description below) ~ Steven Robinson is the Editor-in-Chief of the Maine Wire. Robinson has previously worked as an Executive Producer for the Howie Carr Show and Barstool Sports' Kirk Minihane Show. Over the past few years, he has tirelessly worked to expose the Chinese Cartels' grip over Maine. STEVEN'S LINKS: X: https://x.com/BigSteve207 X: https://x.com/TheMaineWire SUBSTACK: https://robinsonreport.substack.com The Maine Wire: https://www.themainewire.com High Crimes Documentary: https://tuckercarlson.com/high-crimes FOLLOW JULIAN DOREY INSTAGRAM (Podcast): https://www.instagram.com/juliandoreypodcast/ INSTAGRAM (Personal): https://www.instagram.com/julianddorey/ X: https://twitter.com/julianddorey JULIAN YT CHANNELS - SUBSCRIBE to Julian Dorey Clips YT: https://www.youtube.com/@juliandoreyclips - SUBSCRIBE to Julian Dorey Daily YT: https://www.youtube.com/@JulianDoreyDaily - SUBSCRIBE to Best of JDP: https://www.youtube.com/@bestofJDP ****TIMESTAMPS**** 00:00 – Intro 01:26 – Breaking News, Nashville Trip, W33d Loopholes, Chinese Cartels, Human Tr@fficking 11:26 – Cover-Ups, "Indentured Slavery" Lucas Sirois, Johnny Wu, Chinese Border Crossings 24:34 – Fort Fairfield Case, Jennifer Fay Case, Steve Background, “Organ Harvester Turned Grower” 39:33 – 300+ Properties in Maine, Chinese Restaurant Ties, Triads, CCP Influence on Nationals 51:33 – CEFC, Fake Principals, Cannabis Licenses Approved Anyway, Maine Law Can't Keep Up 01:05:36 – $1-5M/Month Grow Houses, Laundering W33d, Exporting to China, Vape Smuggling 01:16:27 – CCP Tactics, Investigative Hurdles, Profiling Pushback, Obvious Red Flags 01:27:01 – CCP Consulate Links, WeChat Shield, Property Purchase Patterns, Quantic Bank, CDFI 01:35:33 – Weak Prosecutions, Fake IDs via NY DMV, Chemical Waste, Olivia Nuzzi RFK Jr Memoir 01:49:28 – 1llegal Toxins in Somerset, Tyson's THC-p, H3mp Loopholes, THC-p Dangers 02:01:27 – Educating New Users, Regulatory Mess, Legal Operators Struggling 02:11:27 – $10B Market Surprise, OK Cannabis Boom, $150B Black Market, Global Overflow 02:26:40 – Cartel Escalation, Vi0lence Warning, Let the Work Speak 02:38:52 – 7OH, Kratom, Gas Station Her0ine Street Users vs. Novices, Narc@n & 7OH Vapes 02:53:27 – Reverse 0pium War, State-Backed Crime, Chemical Warfare via 7OH 03:06:57 – CBD Chains Pushing 7OH, 7 Hope Alliance, Invisible Industry 03:10:04 – Steve's Work CREDITS: - Host, Editor & Producer: Julian Dorey - COO, Producer & Editor: Alessi Allaman - https://www.youtube.com/@UCyLKzv5fKxGmVQg3cMJJzyQ - In-Studio Producer: Joey Deef - https://www.instagram.com/joeydeef/ Julian Dorey Podcast Episode 354 - Steven Robinson Music by Artlist.io Learn more about your ad choices. Visit podcastchoices.com/adchoices

PREVIEW. Canada-China Trade Talks and EV Security Concerns. Charles Burton discusses Canada-China trade talks (Carney/Xi) post-APEC concerning resuming and enhancing trade. Concerns include China exporting thousands of EVs, potentially overwhelming domestic industries and acting as security threats. Canada hopes China will manufacture EVs locally to offset Canadian auto job losses, but Burton is skeptical of this strategy and considers the Canadian government ill-advised.

THE BEST BITS IN A SILLIER PACKAGE (from Thursday's Mike Hosking Breakfast) U.S. Swings Back/Always Make Good Stuff/The Other Ardern Book/Are CEOs Paid Too Much? (Trick Question)See omnystudio.com/listener for privacy information.

Rituals' Richard Lems reveals how the brand designs slow shopping at scale—lighting, layouts, and refits that reuse ~60% of furniture—plus the Oxford Street flagship and Mind Oasis.About this episodeWe cover global consistency, the system of rolling improvements, sustainability baked into fixtures, and creative leadership habits you can steal tomorrow.Guest: Richard Lems, Executive Director, Format & Design — Rituals.

- Destination Charges Now Average $1,550 - ICE Sales Up Three Straight Months in China - GM Lays Off 200 Engineers - Nissan Considers Exporting SUVs To Japan From U.S. - Suppliers Warn Chip Shortage Will Impact U.S. Production Soon - Tesla Reclaims EU EV Sales Crown - Poll Results: Will Stellantis Be Broken Up?

- Destination Charges Now Average $1,550 - ICE Sales Up Three Straight Months in China - GM Lays Off 200 Engineers - Nissan Considers Exporting SUVs To Japan From U.S. - Suppliers Warn Chip Shortage Will Impact U.S. Production Soon - Tesla Reclaims EU EV Sales Crown - Poll Results: Will Stellantis Be Broken Up?

In this episode of The Global Marketing Show, host Wendy Mackenzie Pease, President of Rapport International, shares exciting podcast updates, personal global experiences, and key lessons on why exporting is essential for U.S. business growth. She also unveils her upcoming book, The Secrets of Global Sales, drawn from insights across hundreds of international conversations. Top Takeaways: Exporting drives higher revenues, stability, and long-term growth for U.S. companies. Fear of language and culture often limits global potential. Translation bridges that gap. Wendy's second book, The Secrets of Global Sales, tackles real-world challenges companies face when expanding internationally and addresses the issues with AI translation

Host Faust Checho exposes how Bill Clinton's rise from Arkansas governor to president completed the Bush–Clinton blueprint: turning the Boys on the Tracks cover-up, Whitewater, Waco, and the Oklahoma City bombing into milestones in the creation of America's modern security state.This is Part 5, the finale of Faust's explosive series exposing how the Bush–Clinton machine evolved from covert wars to total domestic control.As the Bush–Clinton dynasty tightened its grip, Arkansas became the prototype for covert power — a proving ground where autopsies were altered, investigators silenced, and scandals rebranded as reform. In this explosive finale of the Bush-Clinton corruption series, Faust traces how scandal in Saline County evolved into the Clinton Body Count, how REX 84 and Operation Night Train foreshadowed a domestic war machine, and how policies like the 1994 Crime Bill, NAFTA, and the Telecommunications Act transformed America into the surveillance state we live in today. From Mena to the Rose Law Firm, from Haiti to Kosovo, the same networks of money, drugs, and blackmail that fueled Iran-Contra were refined under Bill Clinton — and exported worldwide.Topics in this episode include:

Muscle Tension Intervals are those big gear, low cadence masher that are like lifting weights on the bike. You can do them in the CoachCat app → https://fascatcoaching.com/app where the first month is free. The problem? Not everyone has access to a steady 3–5% climb like we do here in Boulder.  That's where Zwift comes in. In this video, Coach Frank walks you through two ways to perform Muscle Tension Intervals on Zwift: 1️⃣ Exporting your workout into ERG mode and using the Incline setting in the Companion app. 2️⃣ Riding free-form in the Climb Portal and simulation riding uphill for work intervals, then turning around and coasting downhill for recovery. Additionally, you'll learn how torque (force on the pedals) connects to power, and why these intervals build the kind of strength that pays off when you combine it with higher cadence later in the season.

This Flashback Friday is from episode 427 published last October 17, 2014 On today's Creating Wealth Show, Jason Hartman talks about the vital side of investing that is construction cost. As an investor within real estate, it's so important to know the situation, whether it be adjusting how much you pay contractors to match with the area itself or knowing just how much the replacements to your property would be compared with the actual cost price. Senate Libertarian candidate, Sean Haugh, features as Jason's guest and together, they discuss the viability of war, the need for America to prove itself as a haven of free trade and prosperity and some of the most important points forming the basis of Haugh's upcoming campaign.     Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

China's Great Firewall blocks social media platforms like Facebook and TikTok, along with certain political topics, streaming platforms, and even Google. For years, we've heard about what China's firewall keeps out — but much less about how it's achieved. Now, a massive leak is shedding light on how the country's censorship technology works and which countries it's being exported to.Today, the Globe's Asia Correspondent, James Griffiths is here. He's an expert on China's online censorship, and he's the author of The Great Firewall of China. He'll explain what the leak exposes, which countries China is replicating its firewall in, and what it all means for the country's growing global influence.Questions? Comments? Ideas? Email us at thedecibel@globeandmail.com

08/15/2025 - John Ensor -on abortion imperialism: exporting abortion to other countries

Today, Jess, Martha, and Les examine the Trump Administration's surprise pivot to allow Nvidia and AMD to resume sales of select AI chips to China—a reversal from export controls implemented under both Trump's first term and the Biden Administration. The move, described by the administration as a “pragmatic trade-off,” aims to keep American firms in the Chinese market, but has drawn bipartisan criticism as a dangerous precedent—trading national security for short-term business gains. Is this a smart economic play that maintains leverage over China, or does it erode long-term U.S. security? Does this decision undercut efforts to build an export control regime that's predictable for industry and credible to allies? And if China can already acquire these chips, does restricting—or permitting—sales really make a difference?Check out the sources that helped shape our Fellows' discussions: https://www.bloomberg.com/news/articles/2025-08-13/trump-s-deal-with-nvidia-offers-path-forward-in-global-trade-war https://fortune.com/asia/2025/08/14/us-china-trump-revenue-share-export-controls-nvidia-amd/ https://thehill.com/policy/technology/5446890-nvidia-amd-china-chip-deal/ Follow our experts on Twitter: @NotTVJessJones@marthamillerdc@lestermunson Like what we're doing here? Be sure to rate, review, and subscribe. And don't forget to follow @faultlines_pod and @masonnatsec on Twitter!We are also on YouTube, and watch today's episode here: https://youtu.be/7s4KhQY1xVw Hosted on Acast. See acast.com/privacy for more information.

Shooting clubs on Salisbury Plain say they may have to close because they can't get a licence to release game birds. Clubs near protected areas, like Sites of Special Scientific Interest, now need a special licence from Natural England to release birds like pheasants and that's now harder to get because of the threat of bird flu. The British Association for Shooting and Conservation or BASC says the licensing system is legally flawed and it's issued legal proceedings against Natural England. However the RSPB would like to see the licensing regime extended. It's called for all game bird releases to be stopped this year because of the risks. In the meantime, clubs say no shoots means no money coming in which means some, like the Bulford and Tidworth Garrison Shoot, are at risk of folding.All week we're looking at what's known as the 5th quarter - this is the name given to the offcuts of meat which, though edible, the British palate isn't keen on. Carcass balance is about finding a use for offal and things like ears or trotters both to combat waste and to get the best price for the whole animal and that means exports. British consumers may not want to eat this sort of thing, but in other parts of the world there is a market so in recent years greater emphasis has been put on seeking out new buyers to get the best out of animal carcasses. Presenter = Charlotte Smith Producer = Rebecca Rooney

Trump's new tariffs hit South Africa hard, and Cyril Ramaphosa barely lifts a finger. This week, Kanthan and Jonathan unpack how the President's failure to negotiate a better deal leaves the country exposed, and what it means for our already fragile economy. Then, the hosts turn to next year's local government elections, weighing up the parties, the prospects, and the potential for yet another round of political farce.Proudly brought to you by The Overton Press.Subscribe at ⁠https://overtonpress.substack.com/⁠If you enjoyed this podcast please like, subscribe and share.Thumbnail by Darren De Lange - https://bit.ly/ddlcreates

Should South Africa be focusing on exporting more with African countries? John Maytham chats to Agricultural Analyst Wandile Shilobo Presenter John Maytham is an actor and author-turned-talk radio veteran and seasoned journalist. His show serves a round-up of local and international news coupled with the latest in business, sport, traffic and weather. The host’s eclectic interests mean the program often surprises the audience with intriguing book reviews and inspiring interviews profiling artists. A daily highlight is Rapid Fire, just after 5:30pm. CapeTalk fans call in, to stump the presenter with their general knowledge questions. Another firm favourite is the humorous Thursday crossing with award-winning journalist Rebecca Davis, called “Plan B”. Thank you for listening to a podcast from Afternoon Drive with John Maytham Listen live on Primedia+ weekdays from 15:00 and 18:00 (SA Time) to Afternoon Drive with John Maytham broadcast on CapeTalk https://buff.ly/NnFM3Nk For more from the show go to https://buff.ly/BSFy4Cn or find all the catch-up podcasts here https://buff.ly/n8nWt4x Subscribe to the CapeTalk Daily and Weekly Newsletters https://buff.ly/sbvVZD5 Follow us on social media: CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/CapeTalk CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567See omnystudio.com/listener for privacy information.

This week we talk to Matthew Ruddy, a young Dublin entrepreneur who did everything right - built his first business at 17, worked alongside the lads at Dogpatch Labs. Except he's now living in Brisbane, not Dublin. Matthew's story captures what's happening to an entire generation. These aren't traditional emigrants heading to London building sites, they're highly educated risk-takers who desperately want to stay home but can't afford to take entrepreneurial risks when rent costs two grand a month. The statistics are staggering: home ownership among 25-34 year olds has fallen by 48% since the mid-90s; the highest decline in the world. This housing catastrophe is causing a mental health crisis among young adults in English-speaking countries, with Ireland leading the pack. It's creating a vicious cycle where young talent either takes safe multinational jobs or emigrates entirely, starving Irish startups of the people they need. Meanwhile, we're left wondering where all the young entrepreneurs have gone. They're everywhere but home. Hosted on Acast. See acast.com/privacy for more information.

In this follow-up episode, The Opportunist explores the latest legal troubles facing Tim Ballard, this time in Argentina, where he's under investigation for alleged misconduct tied to his anti-trafficking efforts. As the international scrutiny mounts, questions grow louder about the true motives behind Ballard's crusade.Thank you to our sponsors:Betterhelp: Get 10% off your first month at BetterHelp.com/OPPORTUNISTSimplisafe: Get 50% off your new SimpliSafe system with professional monitoring and your first month free at SimpliSafe.com/OPPORTUNISTEarnin: Download EarnIn today. When you download the EarnIn app, type in The Opportunist under PODCAST when you sign up.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

NGI's LNG editors Jamison Cocklin and Jacob Dick examine the market implications of Canada's entry into large-scale LNG exports, following Shell plc's LNG Canada facility shipping its first cargo in June.   Despite the milestone, Canadian gas prices continue falling relative to Lower 48 counterparts as the country's producers aggressively ramp production ahead of demand. The discussion dives into the details of LNG Canada's startup, timelines for other projects advancing on the country's west coast, and when supply-demand rebalancing could impact U.S.-Canadian price differentials.   The duo also cover the unique advantages Canadian LNG offers, including shorter shipping times to Asia, as well the challenges like building infrastructure in remote areas.

Andrew, Ben, and Tom discuss this morning's CPI data, BofA Fund Manager Survey, and various company updates. Song: Whatever - OasisFor information on how to join the Zoom calls live each morning at 8:30 EST, visit:https://www.narwhal.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhal.com/disclosure

#1 – From WestVirginia.gov West Virginia Economic Development has launched “Exporting 101,” a program offering free consultations with international trade experts. The service helps local businesses explore new markets and navigate export regulations, regardless of experience level. It's a powerful tool for expanding Almost Heaven's global footprint. Read more: https://westvirginia.gov/exporting-101-let-the-experts-come-to-you/ #2 – From WV Executive State leaders—along with the Department of Commerce and local development groups—are collaborating on a comprehensive growth strategy that focuses on workforce, infrastructure, and targeted industry recruitment. By aligning workforce training, capital investment, and site readiness, West Virginia is laying the groundwork for long-term economic resilience. This forward-looking approach positions the Mountain State for diversified prosperity. Read more: https://wvexecutive.com/shaping-west-virginia/ #3 – From WBOY-TV The Dobbins Slashings Preserve, an 1,400-acre natural gem in Tucker County, is now open for public enjoyment. With new trails, woodland streams, and wildflower habitats, it offers a peaceful retreat for hikers and outdoor lovers. It's a stunning addition to West Virginia's network of Almost Heaven outdoor destinations. Read more: https://www.wboy.com/news/tucker/new-dobbins-slashings-preserve-in-west-virginia-is-open-to-the-public/   Find these stories and more at wv.gov/daily304. The daily304 curated news and information is brought to you by the West Virginia Department of Commerce: Sharing the wealth, beauty, and opportunity in West Virginia with the world. Follow the daily304 on Facebook, Twitter, and Instagram @daily304. Or find us online at wv.gov and just click the daily304 logo. That's all for now. Take care. Be safe. Get outside and enjoy all the opportunity West Virginia has to offer.  

In the latest Almond Byte, highlights from June's Global Update by the Almond Board of California's Global Technical and Regulatory Affairs team include critical renewal steps for almond handlers exporting to China, detailed discussions with Chinese officials to strengthen trade relations, and insights from the ABC's 2025 Environmental Stewardship Tour showcasing sustainable farming practices. Additionally, significant updates on international tariff developments and their potential implications for almond trade were covered, emphasizing ongoing negotiations and legal proceedings affecting tariffs with China, the EU, Canada, and Mexico.

Kai Davis is the founder of Double Your Ecommerce and KeywordMagic.ai, two platforms helping Shopify merchants unlock sustainable growth through SEO, content, and email marketing. With over a decade of experience in digital strategy, Kai has worked directly with hundreds of Ecommerce businesses, offering fixed-price SEO services and tailored growth playbooks that prioritize results over complexity.Drawing from his deep expertise in search intent, content optimization, and store-level messaging, Kai equips Shopify brands with the tools they need to boost organic revenue, refine collection and product pages, and convert more traffic without overwhelming shoppers.Kai helps merchants rethink underperforming pages, optimize seasonal campaigns, and build resilient marketing systems, so they can grow more by working less.In This Conversation We Discuss: [00:43] Intro[01:14] Introducing what drives real SEO results[02:46] Building pages around real search demand[05:44] Starting SEO with product-type collections[07:22] Using conversational copy to boost SEO[08:37] Filtering keyword data by page type[10:43] Recognizing when a term is too competitive[11:49] Understanding why products convert lower[13:56] Training custom GPTs for brand-aligned content[16:29] Drafting faster without losing quality[17:19] Exporting product data to scale AI writing[17:53] Building tools to surface keyword insights[19:54] Understanding your funnel before traffic drops[22:08] Optimizing for AI-driven shopping behavior[24:11] Offering hands-on SEO help for time-strapped teams[25:28] Focusing on what actually moves SEO rankingsResources:Subscribe to Honest Ecommerce on YoutubeSEO Services for DTC Shopify Stores doubleyourecommerce.com/Follow Kai Davis linkedin.com/in/kaisdavisIf you're enjoying the show, we'd love it if you left Honest Ecommerce a review on Apple Podcasts. It makes a huge impact on the success of the podcast, and we love reading every one of your reviews!

Send us a textThis week, I offer you a barefoot sermon from the battlefield of economic memory. A walk from Hamilton to Trump. From Ricardo to Argentina. From Abraham Lincoln's top hat to the red-capped defiance of tariff diplomacy. A retelling of the American experiment through its most potent and most misunderstood weapon: the tariff.I argue here that Donald Trump, however clumsy and chaotic, reignited a long-dormant Hamiltonian flame. Like Lincoln before him, who used tariffs not only to industrialize the North but to bleed the profits from slavery's Southern engine, Trump reached for tariffs not as isolation, but as revolt. The goal was disruption of the quiet exploitation that still oils the gears of the global economy.We begin with Hamilton. In 1791, he laid the blueprint for industrial sovereignty. While Britain imagined America as a spice colony, exporting raw goods and importing refinement, Hamilton saw something else. He saw factories. Foundries. Credit. Fire. His tariffs were not walls, but scaffolds. They wrapped the infant industries of the North in protection until they could stand on their own.Then came Ricardo, bond guru, master of the ledger. He preached comparative advantage, but assumed capital stayed still. That the factory would never chase the lowest wage. That trade was neutral. That power did not intervene. Hamilton saw the flaw long before it became scripture. Ricardo's theory, elegant on paper, became a passport for colonial subjugation. Had America followed it, she might have become another Argentina. Rich in soil. Poor in ambition. Governed by landlords. Exporting the future in exchange for someone else's present.Build the factory. Raze the plantation. Lincoln saw it in cotton. Trump saw it in Asian factories. In both cases, the profit was buried in the poison, and each man, in his own era and fashion, had the rare courage to call it by its name.To strike slavery and build a more enduring republic, Lincoln and maybe Trump, did not reach first for cannonballs or proclamations but rather they reached for the balance sheet. They understood that if you make the ledgers bleed, the system follows. That is their courage.Hugh⬇️ Subscribe on Patreon or Substack for full episodes ⬇️https://www.patreon.com/HughHendryhttps://hughhendry.substack.comhttps://www.instagram.com/hughhendryofficialhttps://blancbleustbarts.comhttps://www.instagram.com/blancbleuofficial⭐⭐⭐⭐⭐ Leave a five star review and comment on Apple Podcasts!

How did Ireland go from a farming economy to the home of Big Tech and Big Pharma in Europe in a few decades? Why were women imprisoned in “Magdalene Laundries” in Ireland until 1996? How did Irish society grapple with abuse within the Catholic Church? To conclude our series on Ireland & Empire, Anita and William are joined by the brilliant Fintan O'Toole, author of We Don't Know Ourselves, to reflect on how Irish society has transformed since the 1950s, and how the country's colonial past informs its future. _____________ Empire UK Live Tour: The podcast is going on a UK tour! William and Anita will be live on stage in Glasgow, Birmingham, York and Bristol, discussing how the British Empire continues to shape our everyday lives. Tickets are on sale NOW, to buy yours head to empirepoduk.com. Empire Club: Become a member of the Empire Club to receive early access to miniseries, ad-free listening, early access to live show tickets, bonus episodes, book discounts, and a weekly newsletter! Head to empirepoduk.com to sign up. Email: empire@goalhanger.com Instagram: @empirepoduk  Blue Sky: @empirepoduk  X: @empirepoduk goalhanger.com Assistant Producer: Becki Hills Producer: Anouska Lewis Senior Producer: Callum Hill Learn more about your ad choices. Visit podcastchoices.com/adchoices

   While Donald Trump has everyone talking Tariffs and Elon and wars, he's quietly building something that could be his lasting legacy.... exporting the ideals that have led to American Exceptionalism.   It's taking root everywhere as Greenland votes for Independence.  Lets Make Earth Great Again!     Libs are losing work as elected officials, federal employees and members of the media.  We wondered all these years how they've stayed afloat and now one big closure has shut them all down.    Patrick Mahomes and Chris Jones rework their contracts to create millions in cap space for free agents.  West Virginia's football coach doesn't like his players dancing in tights, a tour caddy has the best day ever at the TPC Sawgrass and a rock star has to take a break for health reasons.

Episode 4296: Cheating And Weaponization; Failures Of Exporting American Culture Abroad

Since President Trump took office, his plan to deport millions of undocumented people has kept running into barriers. That has forced the White House to come up with ever more creative, and controversial, tactics.The Times journalists Julie Turkewitz and Hamed Aleaziz explain why some migrants are being held in a hotel in Panama.Guest: Julie Turkewitz, the Andes bureau chief for The New York Times, based in Bogotá, Colombia. Her recent work has focused on migration.Hamed Aleaziz, who covers the Department of Homeland Security and immigration policy in the United States for The New York Times.Background reading: As President Trump “exports” deportees, hundreds have been trapped in a hotel in Panama.For more information on today's episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Photo: Federico Rios for The New York Times Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.