Tuesday, September 8, 2009

Coleman Research Group’s Business and Financial Services Group highlights tax on expensive health plans and stocks bounce on deal talk

Coleman Research Group’s Business and Financial Services Group facilitates consultations between our clients (institutional investors) and leading business and financial services professionals on a wide variety of topics including consumer credit trends, banking and investment services, insurance, residential and commercial real estate, student lending, and regulatory issues.

Our Business & Financial network includes an elite assembly of current and former CFOs and senior executives, accountants, former regulatory officials, academics, and top-level industry consultants.

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Tax on expensive health plans proposed

WASHINGTON (CNN) -- A proposed health care compromise by the powerful chairman of the Senate Finance Committee lacks a government-run insurance option and would tax the most expensive health insurance plans, a source close to the discussions told CNN Monday.

As expected, the proposal from Sen. Max Baucus, D-Montana, excludes the so-called public insurance option to compete with private insurers. However, it would allow for the creation of nonprofit health care cooperatives -- an idea that some moderate Democrats and Republicans have expressed possible interest in supporting.

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Stocks bounce on deal talk

NEW YORK (CNNMoney.com) -- Stocks bounced at Tuesday's open, with the major gauges flirting with fresh 2009 highs, as investors welcomed deal talk overseas and a spike in oil and gold prices and stocks.

The Dow Jones industrial average (INDU) gained 31 points, or 0.3%, in the first few minutes. The S&P 500 (SPX) index added 5 points, or 0.5%. The Nasdaq composite (COMP) advanced 11 points, or 0.5%.

September is typically a tough month for Wall Street as market pros return from their summer vacations with a cleaning house mentality. It is the worst month on Wall Street in terms of percentage losses for the Dow, S&P 500 and Nasdaq composite, according to Stock Trader's Almanac.

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