Monday, November 07, 2005

New Deferred Compensation Rules (Section 409A) - CLE Program

I just received an invitation today (Nov. 7) by both mail and e-mail to a November 10, 2005 (this coming Thursday) Paul, Weiss "CLE program discussing the new tax rules governing deferred compensation arrangements" which will be presented by Robert C. Fleder and Michael J. Segal. The new rules, issued September 29, 2005, are of interest to ALL employers, public and private. These proposed regulations, which may be relied upon immediately, can be viewed in their 238 pages here.

The Paul, Weiss program is also accessible via teleconference for those who can not attend personally. A description of the program and registration information is available directly at the Paul, Weiss website (Resources/Events).

The CLE Program is titled "The New Deferred Compensation Rules (Section 409A" and takes place on November 10, 2005 from 9:00 AM - 10:30 AM [an e-mail update received today indicated that breakfast will be served at 8:30] . The location is the Millennium Conference Center, Gallery 8 (8th floor), 145 West 44th Street, New York, NY.

For those who can not participate in that program, the law firm Skadden, Arps, Slate, Meagher & Flom LLP, has a September 30, 2005 .pdf by Stuart N. Alperin, Michael A. Lawson, Neil M. Leff, and Regina Olshan in its online Events & Publications titled "Proposed Regulations Issued Under New Deferred Compensation Rules" or see the September 30, 2005 McDermott Will & Emery Newsletter on "U.S. Treasury and IRS issue Proposed Regulations Under Section 409A".

Topics covered are e.g. Stock Appreciation Rights (SARs) and Stock Options, Severance Pay, Split Dollar Life Insurance, 457(f) Arrangements of Nonprofit Employers, Non-Employees (.e.g. Directors), Short-Term Deferrals, Foreign Arrangements (e.g. Expatriates), "Evergreen" Elections, Performance-Based Compensation, Ad Hoc Awards, Financial Emergency Distribution, Earn-Outs, Wrap Plans, etc.

WTO - Doha - Where do European Union Agricultural Subsidies [CAP] Go?

In view of the WTO Doha round of global trade talks and the significant role of European Union (EU) agricultural subsidies [CAP] in those talks, especially the large and controversial subsidies to France, the question must be asked:

Who actually gets the greatly disputed EU farm subsidies which make up ca. 40% of the EU budget?

A November 7, 2005 press release from the NGO Oxfam reports that agricultural subsidies in the European Union show tremendous inequalities of distribution (as already shown for the UK previously, see here and here) . The more land that is owned, the more subsidies the owner is entitled to obtain. The result is that the rich, the biggest farms and large multinational corporations who own large tracts of farmland are the biggest recipients of EU agricultural subsidies. We excerpt the 7 November 2005 Oxfam press release below which was titled "Lid comes off French farm subsidies":

"Europe must face up to the need to reform its Common Agricultural Policy [CAP] following new revelations of inequality from another of its member states this week, said international agency Oxfam today.

French newspaper La Tribune has published figures that show the biggest French farming businesses swallow up the vast majority of its EU agricultural subsidies....

The revelations come as EU Foreign Ministers meet today (Nov 7) in Brussels to discuss the EU budget and trade negotiators from the EU, US, India and Brazil meet in London to try to unblock WTO negotiations.

CAP reform will be on top of the agenda in Brussels....,” said Celine Charveriat, head of Oxfam’s Make Trade Fair campaign.

France is leading an aggressive defense of the CAP at the WTO. France gets around 9.4 billion Euros from the 44 billion Euro CAP budget....

The CAP is a gravy train for Europe’s biggest, richest farmers,” she said....“

Oxfam has been instrumental in helping to expose the huge inequalities in farm spending that exist in the UK, Spain, Holland, Belgium, Denmark, Slovakia and now France....

Crossposted to EUPundit.

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