Ohio’s AG Yost Tells OptumRx ‘We’ll See You in Court’ for Overbilling the State’s Bureau of Workers Compensation Millions

Attorney General Dave Yost announced Monday he amended his lawsuit filed against pharmacy benefit manager (PBM) OptumRx, claiming the PBM excessively charged the Ohio Bureau of Workers Compensation for generic drugs. The overcharge totaled nearly $16 million. It is now “significantly more.”

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President Trump and Prime Minister Morrison Celebrate ‘Promises Made, Promises Kept’ in Wapakoneta

Two countries played a key role in the building of the new Pratt Industries plant in Wapakoneta – Australia and the United States. Australian Prime Minister Scott Morrison and President Donald J. Trump, visited that new plant on Sunday. The opening of the recycled paper and cardboard plant represents, “Promises made, promises kept,” on the part of President Trump and Pratt Industries, which is owned by Aussie billionaire Anthony Pratt.

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Ohio’s Future Foundation Pushes Pro-Business Policies to Help All Residents Prosper

  YOUNGSTOWN, Ohio – Former Congressman Jim Renacci and Ohio’s Future Foundation (OHFF) were hosted by the Mahoning County Republican Party Tuesday evening.  The GOP group held a social for OHFF in their meeting room in Youngstown. Rick Barron, the Mahoning County Leader, announced that, ‘Tom (Weyand – OHFF’s Outreach…

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U.S. Constitution Does Not Guarantee That You Can Always Pay With Cash

In its Article I, Section 8, Clause 5, the United States Constitution provides:  “The Congress shall have Power…To coin Money, [and] regulate the Value thereof….” And since the Constitution’s drafting in the year 1787, cash has played a vital role in the nation’s economy as the generally-accepted medium of exchange. …

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The Fed Lifts Rates for Third Time in 2018 and One More Raise Is Expected

The Federal Reserve on Wednesday raised a key interest rate for the third time this year in response to a strong U.S. economy and signaled that it expected to maintain a pace of gradual rate hikes. The Fed lifted its short-term rate — a benchmark for many consumer and business…

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Amazon: The World’s Most Dangerous Crony Capitalist

by Rick Manning   The bedrock of American commerce – and of the broader capitalist experiment – has always been competition.  If you can build a better mousetrap, invent a longer-lasting light bulb or more efficiently churn out widgets (or in this case, clichés), odds are your endeavor will encounter success. It doesn’t…

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Phil Bredesen Making Millions Offering ‘Low-Cost’ Solar Deals, But Is He Being Totally Honest?

Bredesen Solar Ranch

Democrat former Tennessee Gov. and current U.S. Senate candidate Phil Bredesen is raking in millions of dollars off of deals involving his Silicon Ranch Corp. by pitching solar projects that appear on paper to offer a cheaper alternative to coal. But under closer examination, the Silicon Ranch numbers are skewed…

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SEC Transaction Fee Pilot Program Could Save Big Money for Small Investors, Pensioners

SEC building

By Robert Romano   In March, the Securities and Exchange Commission (SEC) proposed a new transaction fee pilot that would “subject stock exchange transaction fee pricing, including ‘maker-taker’ fee-and-rebate pricing models, to new temporary pricing restrictions across three test groups, and require the exchanges to prepare and publicly post data,” according to the…

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Wisconsin and New Jersey are Among the States Looking To Copy Minnesota Model Of Using Federal Funds To Lower Insurance Premiums

Minnesota capitol

by Evie Fordham   Several states including Wisconsin and New Jersey are seeking to copy Minnesota’s model of federal reinsurance program funding that contributed to a 13-percent drop in premium rates in the state from 2017 to 2018. The Minnesota legislature adopted the program, which uses mostly federal funds to…

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Contrary to Nervous Nellie ‘Economic Experts,’ the Trump Economy is Booming with Elevated Aluminum and Steel Prices

Donald Trump

By Robert Romano   One of the conventional wisdoms to do with the tariffs and duties levied by the Trump administration on steel, aluminum and lumber is that they will lead to higher prices and inflation, hurting producers and consumers, thus stunting economic growth. For example, billionaire Charles Koch warned on July…

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Tribune Media Terminates Merger with Sinclair Broadcast Group, Files Lawsuit Alleging Breach of Contract

Tribune - Sinclair

by Nick Givas   Tribune Media Company killed its merger with Sinclair Broadcast Group on Thursday and filed a lawsuit against the media conglomerate, claiming breach of contract. Tribune is seeking financial compensation for losses it claims it suffered as a result of Sinclair’s breach of the merger agreement. Tribune is…

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Maverick Musk Eyes $72 Billion Buyout to Take Tesla ‘Private’

Elon Musk

Tesla CEO Elon Musk is considering leading a buyout of the electric car maker in a stunning move that would end the maverick company’s eight-year history trading on the stock market. In his typically unorthodox fashion, the eccentric Musk dropped his bombshell on his Twitter account, which he has used…

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The New York Stock Exchange Monopoly Set to Raise Fees to Access Trade Data

New York Stock Exchange

by Robert Romano   Government-created monopolies are not a new thing, and indeed there are times when Congress has determined that having a government charter for an authoritative, monopoly function can serve a valuable public need. Sometimes these are agencies. The Federal Reserve is tasked by Congress to control the money…

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Ivanka Trump to Shutter Fashion Line, Focus on Government

Tennessee Star

Reuters   President Donald Trump’s oldest daughter, Ivanka Trump, is closing her fashion line to focus her energies on advising her father’s White House, she said through a representative on Tuesday. Trump, whose fortune comes from real estate development, came into office carrying a broad family business portfolio that trades…

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Fiat Chrysler Names Jeep Boss to Replace CEO Stricken with Illness

Mike Manley

Reuters   Fiat Chrysler named on Saturday its Jeep division boss, Mike Manley, to take over immediately for Chief Executive Sergio Marchionne, who is seriously ill after suffering major complications following surgery. The carmaker said British-born Manley, who also takes responsibility for the North America region, will push ahead with…

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Google, Microsoft, Facebook And Twitter Reveal ‘Data Transfer’ Partnership

Google, Facebook, Twitter, Microsoft

by Eric Leiberman   Google, Microsoft, Twitter and Facebook are teaming up to provide users with the capability of transferring data across platforms and services, the latter two social media giants announced Friday morning. After heightened concerns over data utilization (even exploitation and manipulation), companies appear to be trying to…

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Hardly ‘Crumbs’: Cookie Maker Hires Five Workers, Raises Pay, Expands Production Under Tax Cuts

Joseph Semprevivo

by Rachel del Guidice   The overhaul of the tax code by congressional Republicans didn’t produce just crumbs for the business of a popular cookie maker based in Florida. The Tax Cuts and Jobs Act has meant hiring, raises, investment in new equipment, and expanded operations, he says. “It has had…

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Occupational Licensing Reform: A Bipartisan Blueprint for Helping Low-Income Workers

bureaucratic stamps

by Alex Muresianu   A new report from the University of Wisconsin-Madison comparing employment between Minnesota and Wisconsin after Minnesota raised its minimum wage found that Minnesotan workers saw a decline in employment, especially for young, inexperienced, and low-skilled workers, as employment in Wisconsin rose. Despite this evidence reaffirming that the minimum wage can hurt…

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Three Ways Milton Friedman Improved the Field of Economics

Milton Friedman

by Luis Pablo De La Horra   Milton Friedman is probably the most important free-market thinker of the twentieth century. His ideas in defense of capitalism and economic freedom had an enormous influence on the shift towards free-market policies that took place from the 1970s onwards. Countries like the UK, China,…

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President Trump’s Fuel-Efficiency Reality Check Revs Up the American Economy

automobile factory

by Derrick Hollie   Despite rampant speculation that President Donald Trump’s trade policy might increase some car prices, how his regulatory relief agenda may lower sticker prices and increase safety goes largely ignored. How did this happen? The Trump administration is revising the Corporate Average Fuel Economy standards imposed on automakers…

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In Another Blow to Iran’s Faltering Economy, Shipping Giant CMA CGM Announces Exit, Citing US Sanctions

CMA CGM Shipping

Reuters   One of the world’s biggest cargo shippers announced Saturday that it was pulling out of Iran for fear of becoming entangled in U.S. sanctions, and President Hassan Rouhani demanded that European countries to do more to offset the U.S. measures. The announcement by France’s CMA CGM that it was…

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Conservatives Team Up with Immigrants to Tackle Costly New Jersey ‘Hair Braiding’ Regulation

hair braiding

by Elias Atienza   The New Jersey state chapter of Americans for Prosperity (AFP) is helping West African immigrants lobby the New Jersey legislature to change cosmetology requirements. West African immigrants, usually women, operate hair-braiding businesses that are essentially illegal, since state regulations require these workers to get a license, WNYC reported Monday.…

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How Restrictive Labor Laws Keep Puerto Rico’s Economy Down

Puerto Rico

by Rachel Greszler   An economic crisis has engulfed Puerto Rico. The Financial Oversight Management Board, a federally-mandated advisory group, has worked to help Puerto Rico deal with its financial crisis and establish policies that will lead to long-run growth. The board says Puerto Rico must reform its labor market to…

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Tennessee’s Zealous Barber Licensing Board Sued for ‘Irrelevant Requirements’

Elias Zarate

Those looking for a swifter path to becoming a barber in Tennessee just might find relief. The Tennessee Board of Cosmetology and Barbers Examiners is under fire for what twenty-five year-old Elias Zarate is calling “irrelevant requirements” associated with obtaining a Barber license – namely, a high school diploma. Born…

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Malware Discovered Pre-Installed On Android Devices Including Chinese Company ZTE

Smartphones

by Kyle Perisic   An anti-virus company has discovered malware comes pre-installed on Android phones, including on ZTE phones — a Chinese phone company with ties to the Chinese government. “Thousands of users are affected” by the ad-related malware, or adware, according to Avast, the Czech anti-virus company, in its…

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Bredesen-Backed Company Silicon Ranch Has History of Ethics Issues

Bredesen Solar Ranch

If Tennessee voters send former Democratic Gov. Phil Bredesen to the U.S. Senate this fall then Bredesen will step down as chair Silicon Ranch, a company he founded that has ethics problems. Silicon Ranch Corporation helps finance the construction of solar arrays. According to the Tennessean, Silicon Ranch owns or…

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Nashville Firm Files Class Action Lawsuit Against United Community Bank For Alleged Improper Overdraft Fee Practices

United Community Bank for Alleged Improper Overdraft Fee

Nashville, Tennessee-based law firm Branstetter, Stranch & Jennings has filed a class action lawsuit against Georgia-headquartered regional bank United Community Bank, which has locations in three additional states, including Tennessee. BS&J filed the lawsuit with Cohen & Malad, LLP of Indianapolis, Indiana. The suit was filed in the United States…

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NoTax4Tracks: There Is No Such Thing As $1.5 Billion In Free Transit Money for Nashville

“There is no such thing as a free lunch” is an adage many students learn in an introductory economics course. Perhaps that adage could apply to Mayor Megan Barry’s $9 billion transit plan as well. NoTax4Tracks, the PAC opposing the May 1 referendum in Nashville/Davidson County on a proposed increase…

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Nashville Mayor Megan Barry’s Light Rail Plan ‘Absurdly Expensive,’ David Fox Says

Nashville Mayor Megan Barry’s $9 billion transit plan is “absurdly expensive,” says David Fox, one of the most recent Nashvillians to speak out on the topic. Fox’s concerns were briefly outlined by The Tennessee Star on Wednesday. Expanding on them, the former mayoral candidate said his concerns include the return on…

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Barbers Making House Calls One of Many Law Changes in 2018

Barbers may make house calls starting in 2018. That’s one of at least 16 changes to the Tennessee Code Annotated as of Jan. 1. According to the Tennessee Legislature, a change to TCA Title 62 will broaden “barbers’ ability to perform services in a residence from residences of persons who are…

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UK Movie-Theater Cineworld Will Buy Knoxville-Based Regal Entertainment Group for $3.6 Billion: Report

Knoxville, Tennessee-based Regal Entertainment Group is being bought out for $3.6 billion by the U.K.’s Cineworld movie-theater chain, Variety reported Tuesday, amounting to a $23-per-share payout to stockholders. “Because of the size of the transaction, and the relative sizes of Cineworld and Regal, the acquisition has been classified as a…

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Smartphone Market Seeing Steady Growth, as Bigger Screens Dominate

Smartphones

The global smartphone market is expected to see steady if unspectacular growth in the next few years, as consumers turn increasingly to large-screen handsets known as “phablets,” a market tracker said Wednesday. A report by the research firm IDC said phablets — with displays larger than 5.5 inches (14 centimeters)…

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US Economy Grows a Robust 3% in the 3rd Quarter Despite Hurricanes and Obamacare Uncertainty

The world’s largest economy continued to expand at a robust pace in third quarter despite being battered by multiple hurricanes, the US Commerce Department reported Friday. Hitting President Donald Trump’s growth target for the second quarter in a row, US GDP grew at three percent for the July-September period, official…

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NFL May Flag Players Who Kneel For Anthem

NFL Commissioner Roger Goodell may signal a penalty on players who disrespect the flag and national anthem. Goodell sent a letter to all 32 NFL teams on Tuesday, Oct. 10 saying the league needs to move on, Business Insider reports. “Like many of our fans, we believe that everyone should…

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Small Businesses Carry Burden of High Taxes in Tennessee

Small business owners in Tennessee are paying the price — literally — for large corporations raking in tax breaks. “What we keep seeing is that small business owners are taking on the burden of higher taxes for governments to give their tax dollars to big businesses,” said Mark Cunningham, a…

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