Friday, February 11, 2011

Mubarak family fortune could reach $70bn, say experts |

President Hosni Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by Middle East experts, with much of his wealth in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast.

The business ventures from his military and government service accumulated to his personal wealth," she told ABC news. "There was a lot of corruption in this regime and stifling of public resources for personal gain.

Mubarak, his wife, Suzanne, and two sons were able to accumulate wealth through a number of business partnerships with foreign investors and companies, dating back to when he was in the military and in a position to benefit from corporate corruption.

He said most Gulf states required foreigners give a local business partner a 51% stake in start-up ventures. In Egypt, the figure is commonly nearer 20%

Click on the following for more details:  Mubarak family fortune could reach $70bn, say experts | World news |

Filial Responsibility Laws - List of States Having Them ~ Everyday Simplicity

Do you have a moral obligation to pay for your parent's long-term care? Is it your duty as an adult child to financially support your elderly parent when your parent runs out of his or her own money?

Most people want to be there for their parents, emotionally and financially. However, the children of an elderly parent are typically saving for their own retirement, putting their own children through college, and paying off their own mortgage. They may want to help their parent financially, but have other priorities for their money.

If your neighbor is in a nursing home and runs out of his own money, should you pay for his care? Or should that obligation fall to his children if they can afford to pay?

Thirty states now have laws that look to adult children to assist in the financial support of a parent. Massachusetts is one of 12 states that actually have made it a crime, punishable by fine or imprisonment, for an adult child to refuse to support a needy parent. Tennessee has such a law, but it lies dormant at this time.



States With Filial Responsibility Laws
States with filial responsibility laws are: Alaska, Arkansas,
California, Connecticut, Delaware, Georgia, Idaho, Indiana, Iowa,
Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, Montana,
Nevada, New Hampshire, New Jersey, North Carolina, North Dakota,
Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota,
Tennessee, Utah, Vermont, Virginia, and West Virginia.
To look up the actual language of the statutes, here are the
1. Alaska Stat. 25.20.030, 47.25.230 (Michie 2000)
2. Arkansas Code Ann. 20-47-106 (Michie 1991)
3. California Fam. Code 4400, 4401, 4403, 4410-4414 (West 1994),
California Penal Code 270c (West 1999), California Welf. & Inst.
Code 12350 (West Supp. 2001)
4. Connecticut Gen. Stat. Ann. 46b-215, 53-304 (West Supp. 2001)
5. Delaware Code Ann. tit. 13, 503 (1999)
6. Georgia Code Ann. 36-12-3 (2000)
7. Idaho Code 32-1002 (Michie 1996)
8. Indiana Code Ann. 31-16-17-1 to 31-16-17-7 (West 1997); Indiana
Code Ann. 35-46-1-7 (West 1998)
9. Iowa Code Ann. 252.1, 252.2, 252.5, 252.6, 252.13 (West 2000)
10. Kentucky Rev. Stat. Ann. 530.050 (Banks-Baldwin 1999)
11. Louisiana Rev. Stat. Ann. 4731 (West 1998)
12. Maryland Code Ann., Fam. Law 13-101, 13-102, 13-103, 13-109
13. Massachusetts Gen. Laws Ann. ch. 273, 20 (West 1990)
14. Mississippi Code Ann. 43-31-25 (2000)
15. Montana Code Ann. 40-6-214, 40-6-301 (2000)
16. Nevada Rev. Stat. Ann. 428.070 (Michie 2000);
Nev. Rev. Stat. Ann. 439B.310 (Michie 2000)
17. New Hampshire Rev. Stat. Ann. 167:2 (1994)
18. New Jersey Stat. Ann. 44:4-100 to 44:4-102, 44:1-139 to 44:1-
141 (West 1993)
19. North Carolina Gen. Stat. 14-326.1 (1999)
20. North Dakota Cent. Code 14-09-10 (1997)
21. Ohio Rev. Code Ann. 2919.21 (Anderson 1999)
22. Oregon Rev. Stat. 109.010 (1990)
23. 62 Pennsylvania Cons. Stat. 1973 (1996)
24. Rhode Island Gen. Laws 15-10-1 to 15-10-7 (2000); R.I. Gen.
Laws 40-5-13 to 40-5-18 (1997)
25. South Dakota Codified Laws 25-7-28 (Michie 1999)
26. Tennessee Code Ann. 71-5-115 (1995), Tenn. Code Ann. 71-5-
103 (Supp. 2000)
27. Utah Code Ann. 17-14-2 (1999)
28. Vermont Stat. Ann. tit. 15, 202-03 (1989)
29. Virginia Code Ann. 20-88 (Michie 2000)
30. West Virginia Code 9-5-9 (1998).
State laws vary. owever, law student Shannon Edelstone, in her
award-winning essay (cited below), studied all of the state laws and
found that most agree that children have a duty to provide
necessities for parents who cannot do so for themselves. The states'
legislation also gives guidelines to the courts, telling judges to use a
number of factors when weighing the adult child's ability to pay
against the indigent parent's needs. Judges, accordingly, have
considered such variables as the adult child's financing of their
child's college education, as well as his/her personal needs for
savings and retirement.
Sources: Filial Responsibility: Can the Legal Duty to Support Our
Parents Be Effectively Enforced? by Shannon Frank Edelstone,
appearing in the Fall 2002 issue of the American Bar Association's
Family Law Quarterly, 36 Fam. L.Q. 501 (2002).

Here is the apparent proper resource source:


Click on the following for more details:   Filial Responsibility Laws - List of States Having Them ~ Everyday Simplicity

Walker takes broad swipe at public employee unions


Gov. Scott Walker unveiled sweeping legislation that would severely curtail public employee rights and dramatically change the way Wisconsin negotiates with unions going forward.

Officials alerted the Wisconsin State Employees Union on Friday that expired collective bargaining agreements would be canceled March 13. State unions have been operating under the terms of their previous contracts, an arrangement that can be terminated with 30 days notice.

The governor wants to remove those rights for most of the 175,000 state and local employees in Wisconsin, allowing workers to negotiate only over salary.

Both Democratic and Republican lawmakers said Friday they expected Walker's bill will move quickly through the Legislature, perhaps being passed as early as next week. Republicans control the Assembly 60-38-1 and the Senate 19-14.

Walker said he's consulted with attorneys and, while he expects unions to sue, he feels confident the state would prevail.

Click on the following for more details:  Walker takes broad swipe at public employee unions

To view the actual 140+ page legislation: