Stronger consumer spending drives surge in local taxable salesMay 30, 2014
Stronger consumer spending drives surge in local taxable sales
Article from Las Vegas Review-Journal:
Higher consumer spending spurred a strong spike in local taxable sales in March, a state agency said Thursday.
The state Taxation Department reported that spending in Clark County surged year over year in March by 12.1 percent, to $ 3.34 billion.
That’s the biggest year-to-year gain since August 2005, said Brian Gordon, a principal in local research firm Applied Analysis.
It was also well above the annual statewide gain of 7.9 percent. Taxable sales across Nevada totaled $ 4.43 billion in March.
Three categories by themselves contributed to nearly two-thirds of the county’s $ 361.1 million spending increase.
Dealers of cars and car parts saw sales grow $ 30.2 million, or 9.2 percent, to $ 357.2 million. Bars and restaurants — the biggest spending sector, at 26.5 percent of the total — contributed an additional $ 86.5 million, the result of a 10.8 percent jump to $ 884.9 million. Finally, the miscellaneous store retailers category surged 158.3 percent, adding $ 86.9 million for a total of $ 141.7 million. Miscellaneous retailers include florists, used-merchandise stores and pet-supply shops, among other stores. The category does not include retailers of clothes, furniture, building equipment, garden supplies or appliances and electronics, all of which are tracked separately.
Senate Antitrust Leaders Advise Consumer-Focused AT&T/DirecTV Review
Article from Multichannel News:
The chair and ranking members of the Senate Antitrust, Competition Policy and Consumer Rights subcommittee have advised the Justice Department on their competition policy positions regarding the vetting of the proposed AT&T/DirecTV merger, and it is to focus on consumers, including the deals effect on price, choice, quality and innovation.
They also plan to hold a subcommittee hearing on the deal sometime in the summer.
In a letter to FCC Chairman Tom Wheeler and William Baer, assistant attorney general for antitrust, Sens. Amy Klobuchar (D-Minn.), chair, and Mike Lee (R-Utah), urged them to gauge the impact on consumers.
Justice will review for antitrust issues, while the FCC’s review extends to public interest benefits as well as harms.
“AT&T and DirecTV state that their merger will create a ‘competitive alternative to cable for consumers wanting a better bundle of top-quality broadband, video and mobile services, as well as a better customer experience and enhanced innovation,'” the senators wrote. “The companies further state that increased scale will allow the merged entity to realize cost synergies. As you review this transaction, we believe it is important to validate and weigh these efficiencies against the potential competitive harms that could result from the transaction.”
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