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Delaware Supreme Court rejects Burkle’s appeal in Barnes & Noble suit

BY CSA STAFF

Dover, Del. — The Delaware Supreme Court has rejected an appeal by billionaire Ron Burkle in a lawsuit challenging a poison pill plan adopted by Barnes & Noble after he doubled his stake in the company.

After hearing arguments Wednesday, the court on Thursday affirmed a judge’s ruling last year upholding the poison pill plan, which limited a shareholder’s stake in the company to 20%.

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Target settles lawsuit over California waste disposal

BY CSA STAFF

San Diego — Target Corp. was ordered by a California judge to pay $22.5 million to settle a lawsuit alleging that the chain illegally disposed hazardous waste at hundreds of stores throughout the state, prosecutors said Thursday, according to the Associated Press.

The settlement puts Target under tight scrutiny to ensure that it properly disposes waste at its nearly 300 stores in California, the report said.

Target was accused of violating procedures for handling toxic waste from 2002 until a few months after authorities filed the civil lawsuit in June 2009, said Tim Patterson, supervising deputy state attorney general.

Authorities said the Minneapolis-based retailer had no special procedures to dispose of goods such as oven cleaners, aerosols, paint and fertilizers. Companies are required to separate such hazardous items from regular waste.

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NRF welcomes repeal of tax provision in healthcare law

BY CSA STAFF

WASHINGTON — The National Retail Federation announced that it welcomed the House of Representatives’ vote to repeal a provision in last year’s healthcare reform law that would widely expand the number of IRS 1099 tax forms businesses would be required to file.

“This is a commonsense step to keep the business community from being hit with a blizzard of unnecessary paperwork that has nothing to do with health care,” NRF SVP government relations David French said. “The important thing now is for the House and Senate to come together on a final version of repeal and settle this issue as quickly as possible. This provision never should have been in the healthcare bill to begin with and it’s already taken far too long to get it removed.”

The House voted 314-112 to approve H.R. 4, the Small Business Paperwork Mandate Elimination Act, sponsored by Representative Dan Lungren, R-Calif. The bill would repeal a provision in the Patient Protection and Affordable Care Act of 2010 that requires businesses to file a Form 1099 with the Internal Revenue Service whenever they make non-credit card payments totaling $600 or more to a vendor during a single year. Federal law has long required a Form 1099 when a business pays $600 a year or more to an individual or unincorporated business for services, but the new provision extends the requirement to include payments to corporations and to include purchases of tangible goods in addition to services. The broadened requirement is set to go into effect in 2012 and is expected to bring in $19 billion in tax revenue to help fund healthcare reform.

A similar repeal measure was approved by the Senate as part of an unrelated Federal Aviation Administration reauthorization bill passed on February 17, but the two versions differ on how to make up for the loss of the revenue the provision would raise.

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