This Week on The Street

by Harold Shumacher

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This Week on The Street

(A more or less regular compilation of news, factoids and observations.)

By Harold V. Shumacher

June  20, 2011

Georgia restaurant owners,  just barely recovered from the Great Recession , now have a new worry-increased activity by Georgia Dept. of Revenue field agents. In the past two years the department has doubled the number of field agents and have targeted restaurants and small businesses for increased scrutiny according to Bob Wagner, the go to accountant for many of Atlanta’s restaurant owners. According to Wagner the agents are focusing on several areas including whether or not taxes have been paid for any furniture fixtures and equipment purchased outside of Georgia (even if purchased through a distributor); an attempt to tax mandatory tips as income; collecting fees on equipment leases-for such items as dishwashers and finally collecting tax on items ordered on the internet. The goal is to raise $5 in additional revenue for every $1 in additional overhead cost so expect increased scrutiny.  Simultaneously, the Georgia Department of  Labor, empowered by the recent passage of the state’s stringent immigration laws will be more closely monitoring restaurants.

Several Atlanta area owners have confidentially shared with us that some of their employees are very concerned about the pending changes.  We shall watch and report.

What’s with the animal names. Suddenly there’s a plethora of animal names among Atlanta’s newest eateries including Bad Dog, Family Dog, and  One Eyed Stag  not to mention the now closed Thirsty Dog  along with  long- time Chinese mainstays Panda Inn and Little Panda. What’s next flowers and bushes?

Spotted on a t-shirt in Las Vegas-“ What happens in Vegas stays on Facebook and You Tube forever.”

Courtesy of the Sierra Club… If Georgia were a country, it would be the fifth largest producer of broilers (meat chickens)  in the world right up there with China and Brazil. The 17.5 million broilers in Franklin County, Georgia (outnumbering people 22 to 1) produce as much waste as the greater Philadelphia metro area (equivalent of 5.9 million people). The more than 10.7 million broiler chickens on factory farms in Gilmer County, Georgia produce as much untreated manure as the sewage from the Seattle metro area. At any one time, the nearly 205 million broiler chickens, 9 million egg-laying hens, 235,000 hogs, and 35,000 dairy cows on factory farms in Georgia produce as much untreated manure as 85 million people — nearly 9 times the population of Georgia.

Recent transactions include the sale of 3991 Highway 78 Snellville, Georgia to Golden Trust and Partners Limited.  The Shumacher Group, Inc. represented  BB&T and this is the fourth transaction successfully concluded on behalf of the Seller.

 

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