It is no secret that the Internal Revenue Service (IRS) audits relatively few tax returns. In fact, each year the IRS publishes the figures. The IRS’s own data reveals that slightly more than 1% of all tax returns filed were audited. The audit figures for the almost 10 million business returns filed in fiscal 2009, [...]
Throughout my 15 years of covering the convenience store industry, I’ve had the opportunity to meet some amazing people, develop lifelong friendships and watch in awe as otherwise ordinary people learned to work together to produce extraordinary results. Throughout that time I’ve also seen countless people come and go. For some, the industry was a [...]
Ready Training Online and Targeted Solutions have partnered to deliver online training services to the convenience industry. “Our industry is changing at a rapid pace,” noted Tom Hart, founder and CEO of Targeted Solutions. “I am thrilled to join forces with RTO, the leading online training company, to provide customized online solutions. We’ll offer businesses [...]
An introspective look at life through the fading eyes of a genius. As our 28 year old daughter lay ill in Emory University Hospital, a wonderful second-generation Spanish surgeon knelt down and held my wife’s hands to share words of wisdom he learned from his father. He imparted to us what a great privilege it [...]
Behind the Brand: Key Decision Makers • Daniel McCabe, President: McCabe has served as the president and a director of McColla Enterprises since 1987. McCabe is an attorney licensed to practice law in New York and in North Carolina, and maintains a business law practice in Poughkeepsie, N.Y. He also acts as the chief legal [...]
Economists presented both sides of the picture to retailers at the NACS State of the Industry Summit in Chicago this week. The 2010 NACS State of the Industry Summit marked the 40th anniversary of the State of the Industry survey conducted by NACS. When the survey began, industry sales were recorded at just over $1 [...]
C-store sales jumped 5% in 2009 despite the economic conditions, reduction in overall consumer spending. Convenience store in-store sales grew 4.9% in 2009, one of the lone bright spots in a battered U.S. economy that saw overall retail sales drop 7%, according to figures released today by NACS. The industry numbers were announced in Chicago [...]
Jimmy McCarthy III, vice president of sales and operations for Tom Thumb Food Stores, still remembers the Saturday morning his dad, Jim McCarthy Jr., owner and president of Tom Thumb, woke him up to begin his career in the convenience store industry. “He said, ‘wake up, you’re not going to sleep all day.’ I said, [...]
Making your mark in the convenience store industry requires hard work, dedication, great people and outstanding service. Throw in three generations of family-owned leadership and a firm commitment to quality and value, and you’ll understand why High’s of Baltimore Inc. is among one of the most revered operators in its markets. “Our brand has been [...]
NACS has announced that former President George W. Bush will be the closing general session speaker for this year’s NACS Show, which will take place Oct. 5-8 at the World Congress Center in Atlanta. Bush will be the fourth U.S. president to speak at a NACS event: former President Bill Clinton served as last year’s [...]
NACS and convenience retailers are enjoying a huge win today, thanks to enactment of the Prevent All Cigarette Trafficking Act (PACT Act), which addresses the long-standing convenience store industry concern of tax evasion via remote sellers of tobacco products. Today’s White House signing by President Barack Obama caps a 10-plus year effort by retailers to [...]
The Kansas Senate Assessment and Taxation committee had a hearing Wednesday to hear all sides before ruling on the legislature’s proposed tax increases on cigarettes, liquor and fuel that would cover an estimated $400 million budget shortfall, the Kansas Reporter reported. Tom Palace, executive director of the Petroleum Marketers and Convenience Store Association of Kansas, [...]
Resilient, tough and tested. These are just a few of the words analysts and retailers alike used to describe the convenience store and petroleum industry over the past 12 months. With the economy suffering its most difficult period in some 80 years, convenience stores held up rather admirably considering how consumer confidence plunged and the [...]
When history looks back on 2009 it will not be generous. The U.S. economy was, and to a certain degree, remains locked in the worst economic recession since the Great Depression. Unemployment is high and the value of the dollar and consumer spending are at near-record lows. While this is bad, it could have been [...]
Anheuser-Busch InBev NV’s U.S. division cut about 90 jobs in its sales division Thursday, including several vice presidents, some 350 other layoffs are occur in the coming months as part of the company’s restructuring, The Wall Street Journal reported. The job reductions linked to the reorganization are intended to help the world’s largest beer maker [...]