Sohodojo Advisory Board Member
Jim Schneider
The Taxman86 Speaks...
20 March 2000
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Bigstep is getting bigger; Downtown Living is alive and well; Dot-Com Incubators are hot; and the public speaks out on Distressed Communities
1. It started in a one room place with an idea and a dream
Less then two years ago Andrew Beebe had a dream, today his dream is a company called Bigstep.Com, Inc. with over 100 employees and 65,000 Web Sites, or Dot-Com companies, if you will. Better yet Bigstep.com just landed $50M in additional funding! Congratulations to Bigstep.Com, their founder(s), and the Bigstep family, they have earned it.
2. San Diego transportation was pretty nice 10 years ago, as were many other cities, today it is a mess
Living in and around San Diego was pretty nice years ago, but traffic is a mess, which follows the same stories in Atlanta, Washington, D.C., San Francisco, Seattle and other places. What 's the solution, move downtown and walk to work, or better yet work at an Urban Home-based business.
Will it work? The true test will be Los Angeles, which has 30M sq. ft. of empty historic buildings in a newly formed Live/work Loft Ordinance, a new $5B Redline Metro System to Hollywood and Universal Studios [opening in June 2000]. If you believe the press it will not, but we disagree. There will be life in downtown Los Angeles's Federal Empowerment Zone, sooner rather than later.
3. Dot-Com Incubators are hot, as everyone wants to get into the action of bringing the New Economy to life in the 'Dot-Com Decade 1998-2010'
Yesterday we visited the Huntington Library, Art Collections and Botanical Gardens in San Marino, California, the former home [270 Acres] of one of California's most famous dreamers and saw a great exhibit called 'Land of Golden Dreams--California in the Gold Rush Decade 1848-58.' If Mr. Huntington was alive today he would, along with his partners Mr. Stanford, Mr. Hopkins and Mr. Crocker, with their dreams and schemes would be right in the middle of it. (For relevant perspective, see this LA Times article.)
4. All eyes will be on Congress and the Clinton Administration this week and next when the New Distressed Communities Tax and Financial Incentive Program is announced
The House Ways and Means Committee Oversight Subcommittee meets tomorrow to hear testimony from the Clinton Administration and the public on various tax and financial incentives for Distressed Communities, and the following week the House Speaker J. Dennis Hastert and President Clinton will announce their combined plan which will include many incentives, including the ZERO TAX FREE ZONE concept of Jack Kemp from the early 80's, 30% Investment Tax Credits for new investments into Community Development Enterprises ['CDE'], and the increase in IRC Section 1044 tax deferral roll overs. Let the games begin.
Jim Schneider, LL.M.
Taxman86
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The Taxman86 Speaks... is copyright 1998-2010 by James E. Schneider, LL.M. Inc.
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