Vic: Land tax bills soaring, Doyle says

AAP General News (Australia)
02-14-2006
Vic: Land tax bills soaring, Doyle says

The Victorian opposition says land tax bills for small businesses are soaring .. despite
promises by the government.

Opposition Leader ROBERT DOYLE says property owners will be faced with an average increase
of 20 per cent when they receive their assessments.

Mr DOYLE has told reporters at a dry cleaners in the Melbourne suburb of Camberwell
.. the owner is being forced to sell .. because his land tax has risen from 813 dollars
in 1999 to 19 thousand this year.





Premier STEVE BRACKS says the government has already provided significant land tax
relief and any rises are due to a rise in property values.

AAP RTV kl/dk/wjf/bart

KEYWORD: LAND TAX (MELBOURNE)

2006 AAP Information Services Pty Limited (AAP) or its Licensors.

Fed: DFAT confirms Sukumaran was once an employee

AAP General News (Australia)
04-28-2005
Fed: DFAT confirms Sukumaran was once an employee

The Department of Foreign Affairs and Trade says an alleged kingpin of the Bali Nine
once worked in its Sydney passports office but wasn't involved in the authorisation of
passports.

A DFAT spokesman says it employed Sydney martial arts expert 24-year-old Myuran Sukumaran
as a temporary employee in its Sydney passports office for five months in 2000.

The spokesman says he was employed in a junior support role and wasn't involved in
authorising passports.

And he says he passed the usual police checks.

Indonesian police say Sukumaran was the head of the group of nine Australians trying
to smuggle 8.65kg of heroin from Bali into Australia.

All nine face the death penalty.

Yesterday Indonesian authorities revealed several of the Bali nine had travelled to
to the country in the past, using multiple fake passports.

AAP RTV db/bk/ea/

KEYWORD: INDON DRUGS SUKUMARAN (CANBERRA)

2005 AAP Information Services Pty Limited (AAP) or its Licensors.

SBC to acquire AT&T for $16 billion, creating one of world's largest phone companies

BRUCE MEYERSON, AP Business Writer
AP Worldstream
02-01-2005
Dateline: NEW YORK
The purchase of AT&T Corp. by SBC Communications Inc. saves AT&T from a nosedive into irrelevance in the industry it created more than a century ago. It also gives SBC the name and the network to fulfill its goal of being viewed as a truly national player rather than just a local telephone company.

The $16 billion (euro12.3 billion) marriage of long-bitter rivals, which may take until mid-2006 to clear intense regulatory scrutiny, would add long distance and business services to the list of markets where SBC holds a dominant role. It is already the first or second largest U.S. provider of local calling, wireless and Internet services.

The deal announced Monday also sparks immediate speculation as to whether two other largely regional powers, Verizon Communications Inc. and BellSouth Corp., will need to keep pace by purchasing MCI Corp. for its national network infrastructure and roster of corporate clients.

While both SBC and Verizon are by now far larger than New Jersey-based AT&T on many fronts, the business customers served by AT&T and MCI include far more major corporations with national communications needs. Many of those customers are hesitant to switch providers for a lifeline as vital as communications, making it hard for the Bells to lure away AT&T's clients.

For that reason, SBC made clear that the globally recognized AT&T brand name would not disappear as a result of the deal.

The companies declined, however, to say whether the AT&T name might be used for specific services or possibly even replace SBC, which formerly stood for Southwestern Bell Communications and therefore carries some non-national connotations which Texas-based SBC has strived to leave in the past.

"We obviously need a few days to figure all this out because this (deal) came together kind of quick," Edward E. Whitacre Jr., SBC's chairman and chief executive, said in a conference call.

"But," he stressed, "It's a great name. It's not going away."

While it's doubtful the valuable AT&T brand would ever have been abandoned, AT&T the company has been rapidly decaying as a viable business for five years, battered by multiple financial traumas.

First came an overpriced binge of acquisitions in the cable TV industry designed to give AT&T its own direct wire into the homes of consumers for the first time since it was forced to spin off its local phone lines in 1984, creating Southwestern Bell and six other "Baby Bells."

Then came the collapse of the technology bubble and its briefly insatiable demand for telecommunications services; criticism over its inability to match the fraudulent numbers being reported by WorldCom (now MCI); and regulatory changes that will end AT&T's ability to lease local Bell lines at low government-set rates.

AT&T's revenues have been on a steady slide, from nearly $50 billion in 1999 to $30.5 billion (euro23.4 billion) in 2004. Its residential customer base has fallen from a peak of 60 million to about 24 million at the end of last year. In their quarterly update two weeks ago, AT&T executives declined to suggest either trend might end any time soon.

The agreement calls for each share of AT&T to be purchased for SBC stock worth $18.52 at Monday's price, plus a cash payment of $1.30, for a total value of $19.82 per share.

That represents little premium over AT&T's share price, which rose sharply last week amid reports a deal with SBC was being discussed. In Monday's trading, AT&T shares fell 52 cents, or 2.6 percent, to $19.19 on the New York Stock Exchange. SBC's shares rose 14 cents to $23.76 on the NYSE.

In addition the deal would leapfrog SBC past Verizon Communications Inc. in terms of revenue. Combined, SBC and AT&T would have had $90.6 billion (euro69.5 billion) in revenues in 2004, if adjusted to reflect SBC's proportionate 60 percent share of the Cingular Wireless venture it owns with BellSouth Corp.

Verizon's revenues would total about a third less than that if adjusted to reflect its proportionate 55 percent share of its Verizon Wireless partnership with Vodafone Group PLC.

Copyright 2005, AP News All Rights Reserved

appraisive image

appraisive image The meaning invoked by a particular place, usually with regard to its attractions. A distinction is made between an affective, emotional response to an image and an evaluative response, where an objective judgement is made between places. Put more simply, an individual may prefer the scenery of Snowdonia to that of the South Downs because the former is, subjectively, more ‘awe‐inspiring’, or because, objectively, it displays more marked breaks of slope and higher relief.

Versata's 2000 Revenues Increase 363% Year-Over-Year; Focuses on Achieving Profitability in 2001.

Business/Technology Editors

OAKLAND, Calif.--(BUSINESS WIRE)--Feb. 5, 2001

Versata, Inc. (Nasdaq: VATA), a provider of software and services that automate the development, deployment and change management of transaction-based e-business, today released its results for the fourth quarter and fiscal year ending December 31, 2000.

Total revenues for the quarter ended December 31, 2000 were $16.7 million, an increase of 224% from $5.2 million for the same period in 1999 and a decrease of 5% from $17.6 million for the third quarter 2000. The pro forma net loss, which excludes non-cash stock compensation charges, amortization of goodwill, and other non-operating expenses, was $11.9 million or $0.30 per share, compared to a pro forma net loss of $6.6 million or $0.22 per share for the fourth quarter 1999 and $7.8 million or $0.20 per share for the third quarter 2000.

Fourth quarter software license revenue grew 220% from fourth quarter 1999 and 12% sequentially to $9.6 million, from $3.0 million and $8.6 million, respectively. Professional services revenues and support fees were $7.1 million. As a percent of total revenue, software license revenue increased to 57.3% in the fourth quarter 2000 from 48.7% last quarter.

For the year 2000, total revenues reached $58.3 million, an increase of 363% from $12.6 million in 1999. The pro forma net loss, which excludes non-cash stock compensation charges, amortization of goodwill, and other non-operating expenses, was $37.7 million or $1.00 per share, compared to a pro forma net loss of $17.8 million or $0.72 per share in 1999.

"We're very pleased with our overall results for 2000. These results prove the validity of our strategy and the size of our market opportunity," said Jack Hewitt, President and Chief Executive Officer of Versata, Inc. "While our Q4 results were disappointing, we believe we are on the right track to achieve profitability this year. We've taken steps already to achieve this goal and look forward to reporting our progress with you throughout the year."

In the fourth quarter, Versata earned a gross profit of $7.2 million, up 168% from $2.7 million earned in the fourth quarter of 1999, and down 18.2% from $8.8 million in the prior quarter. Gross profit for the year 2000 was $26.6 million, an increase of 345% from 1999.

Versata ended the fourth quarter with $74.4 million in cash and short-term securities. The days sales outstanding (DSO) was 87 days at the end of the quarter, compared to 72 days in the third quarter 2000. Deferred revenue was $9.0 million at the end of the quarter, a 12.1% increase from the prior quarter figure of $8.0 million.

New Customers and Partners

Versata added 39 new domestic and international end-use customers in the fourth quarter, including:

-- Domestic: Children's Hospital of Cincinnati, Fireman's Fund, Force 10 Networks, Kemper Insurance, L.A. County Mental Health, Meridien Health Care, Raytheon, TAL Technologies, and Yalta Communications.

-- International: ADDECO/Cenergys, ALCATEL, British Telecom, Compagnie Francaise de Methane (CFM), Chantiers De L'Atlantique, CNASEA, France Telecom, KLM, Novaxess, and Wesdeutsche Landesbank.

In the year 2000, over 150 new end-use customers began using the Versata system, bringing the total to nearly 500.

In the fourth quarter 2000, 24% of Versata's customers were repeat end-users and value-added resellers. These included Colt Telecom, InvestorsPlus, Koch Petroleum Canada, Manitoba Blue Cross, Nekema, and Viewtrak Technologies.

Versata signed new agreements with system integrators and value-added resellers such as Aegis/Aetrex, Datanomix, Neasi-Weber International, Nextance, Solution Bank and Xenium. Also, Versata trained over 270 developers in the fourth quarter. Approximately 1,300 developers were trained in the year 2000. Additionally, Symphoni Interactive extended its agreement to include training and marketing of Versata's new product, the Versata Interaction Server.

Versata Interaction Server Launched

Versata's new product, the Versata Interaction Server (VIS), hit the market on November 6, 2000. VIS provides workflow and process automation and complements the Versata Logic Server. By the end of the fourth quarter, Versata signed five new VIS customers.

CIO Advisory Forums

Versata held CIO Advisory Forums in the U.S. and in Europe during the fourth quarter. The purpose of the forums was to bring together influential groups of business and IT leaders from Versata's customers and partners to discuss the issues surrounding the development and implementation of e-business transaction automation strategies and solutions.

Quarterly Conference Call

Versata, Inc. will host its quarterly conference call, open to all interested parties, at 2:00 pm Pacific Standard Time or 5:00 pm Eastern Standard Time, on Monday, February 5, 2001. The call will be broadcast over the Internet at www.versata.com.

About Versata

Versata provides software and services that enable customers to rapidly deploy e-business software applications that can be modified quickly to meet constantly changing business requirements. Versata's E-Business Automation System utilizes a unique business rules automation technology that redefines how companies create, deploy and modify the critical e-business software applications used to transact their online business.

Innovative Fortune 1000 and corporate customers such as Children's Hospital of Cincinnati, Hilton Hotels, ITT Fluid Technologies, JP Morgan, Sanwa Bank and United Defense, as well as new Internet exchanges including eBond-Trade.com, iMedNetworks.com, and yet2.com have all benefited from the Versata solution. The Versata System is available from Versata directly and from more than 200 system integrators, value added resellers and distributors worldwide.

Incorporated in 1995, and publicly-traded, Versata (Nasdaq: VATA - news) is headquartered in Oakland, California with offices throughout the United States and Europe. For more information, please contact Versata at www.versata.com, or call 800-984-7638 or email us at info-pr@versata.com.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. Forward-looking statements in this release include, but are not limited to, statements regarding the Company's expectations, beliefs, hopes, intentions or strategies regarding the future. These statements are not guarantees of future performance and actual results could differ materially from company's current expectations. Factors that could cause or contribute to such differences include, but are not limited to: ability to grow revenue, ability to decrease expenses, revenue recognition, market interest in the products, ability to deploy the products, ability to grow relationships with system integrators and other partners, the release of competitive products, economic conditions in foreign countries, and other possible risks. As a result, actual results may vary, perhaps materially, from those contained in the forward-looking statements. More information on risks and uncertainties related to the company and its business may be found in the Company's quarterly reports and Prospectus filed with the United States Securities and Exchange Commission. All forward looking statements included in this press release are based upon information available to the Company as of the date hereof, and the Company does not assume any obligation to update such statements or the reasons why actual results could differ materially from those projected in such statements.

Note to Editor: Versata and the Versata logo are trademarks of Versata, Inc. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.

                            VERSATA, INC.                   CONSOLIDATED BALANCE SHEETS                          (In thousands)                                         December 31, December 31,                                           2000          1999                                         ----------  ----------  ASSETS Current Assets:    Cash and cash equivalents              $44,461     $20,655    Short-term investments                  29,926           -    Accounts receivable, net                16,210       5,587    Unbilled receivables                     3,584       1,584    Prepaid expenses and other               4,075       2,311                                         ----------  ----------       Total current assets                 98,256      30,137  Property and equipment, net                11,901       1,902 Note receivable from related parties          156         134 Intangibles, net                           12,205       1,389 Other assets                                  354          98                                         ----------  ----------       Total assets                       $122,872     $33,660                                         ==========  ==========   LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities:    Accounts Payable                        $9,040      $2,025    Accrued liabilities                     13,392       7,298    Current portion of equipment loan     and capital lease                         134         166    Deferred revenue                         9,000       4,433                                         ----------  ----------       Total current liabilities            31,566      13,922  Deferred stock-compensation liability       1,095           - Equipment loan and capital lease,  less current portion                         218         320                                         ----------  ----------       Total liabilities                    32,879      14,242  Stockholders' equity                       89,993      19,418                                          ----------  ----------       Total liabilities and        stockholders' equity              $122,872     $33,660                                         ==========  ==========                                 VERSATA, INC.                  CONSOLIDATED STATEMENTS OF OPERATIONS                  (In thousands, except per share data)                                   Quarter Ended         Year Ended                                   December 31,        December 31,                               ------------------  --------------------                                 2000       1999      2000       1999                               --------- ---------  --------- --------- Revenue:   Software license              $9,573    $2,996    $28,358    $6,729   Services                       7,145     2,170     29,944     5,853                               --------- ---------  --------- --------- Total revenue                   16,718     5,166     58,302    12,582  Cost of Revenue:   Software license                 443       124      1,234       499   Services                       9,048     2,341     30,514     6,121                               --------- ---------  --------- --------- Total cost of revenue            9,491     2,465     31,748     6,620                                --------- ---------  --------- ---------  Gross profit                     7,227     2,701     26,554     5,962  Operating expense:   Sales and marketing           13,065     6,545     46,817    15,609   Product development            2,964     1,736      9,727     4,769   General and    administrative                4,341     1,158     12,675     3,125   Amortization of    intangibles                     681         -      1,341         -   Stock-based    compensation                  3,210     2,463     25,512     3,955                               --------- ---------  --------- --------- Total operating expense         24,261    11,902     96,072    27,458                                --------- ---------  --------- --------- Loss from operations           (17,034)   (9,201)   (69,518)  (21,496)    Interest income (expense)      1,293       145      5,064      (304)   Other, net                       (62)        -        (62)        -   Other non-operating    expenses (1)                   (693)        -       (937)        -                                --------- ---------  --------- --------- Net loss                      ($16,496)  ($9,056)  ($65,453) ($21,800)                               ========= =========  ========= ========= Basic and diluted net  loss per share                 ($0.42)   ($0.31)    ($1.74)   ($0.87)                               ========= =========  ========= =========  Weighted-average common  shares used in computing  basic and diluted net  loss and pro forma  net loss per share (2)         39,159    29,616     37,533     24,924  Pro forma net loss  per share (2) (3): Net loss                      ($16,496)  ($9,056)  ($65,453) ($21,800) Add:   Amortization of intangibles      681         -      1,341         -   Stock-based compensation       3,210     2,463     25,512     3,955   Other non-operating    expenses (1)                    693         -        937         -                               --------- ---------  --------- --------- Pro forma net loss            ($11,912)  ($6,593)  ($37,663) ($17,845)                               ========= =========  ========= ========= Basic and diluted pro forma  net loss per share (3)        ($0.30)   ($0.22)    ($1.00)   ($0.72)                               ========= =========  ========= =========   (1) Other non-operating expenses relate to office relocation costs.  (2) The weighted-average common shares used in computing basic and diluted net loss and pro forma net loss per share are adjusted for the year ended December 31, 2000 to include the pro forma effects of the conversion of preferred stock to common stock, in connection with the company's initial public offering, as if the conversion occurred at the beginning of the period.  (3) Pro forma net loss per share excludes non-cash stock compensation charges, amortization of goodwill, and other non-operating expenses as specified in (1) above. 

Business Week Online Wins National Magazine Award for General Excellence in New Media Category.

Business & Technology Editors

NEW YORK--(BUSINESS WIRE)--May 5, 2000

Business Week Online was selected this week as the National Magazine Award winner for General Excellence in the New Media category. The prestigious annual magazine awards are sponsored by the American Society of Magazine Editors.

"This is an important validation of our vision of online business and financial news," said Steve Shepard, editor-in-chief of Business Week, a division of The McGraw-Hill Companies (NYSE: MHP). "In a fragmented world, glutted with specialized information and commodity news, there is more need, not less, for broad insights, synthesis, analysis, interpretation, context, and meaning - online and in print."

The "Ellie" award in the new media category recognizes an Internet site originating from an existing print publication "that most effectively serves its intended audience and reflects an outstanding level of interactivity, journalistic integrity and service," according to ASME.

Business Week Online has been nominated for General Excellence in the New Media category in three times in the four years since the award was created. This year, Business Week Online competed against Smart Money.com, the Industry Standard's TheStandard.com, Atlantic Unbound and Zoetrope: All-Story to capture its first "Ellie."

"Business Week Online is an example of how The McGraw-Hill Companies is using the Internet to extend franchises, add new customers and create new revenue streams," said Harold McGraw III, chairman and chief executive officer of The McGraw-Hill Companies. "This Web portal, with deep content for investors, entrepreneurs, small business owners and those engaged in e-commerce, is an important way to reach and develop entirely new audiences. For example, more than 70% of Business Week Online's 765,000 registered users do not receive the print magazine."

This year's National Magazine Awards program attracted a record number of print and new media entries: 1,483. Finalists were chosen by a panel of 175 editors, art directors, educators and new media experts. A separate panel of 81 judges chose the sixteen award winners.

Established in 1966, the National Magazine Awards is the preeminent program in the magazine industry to honor editorial excellence. The awards program is sponsored by the A.S.M.E. and are administered by the Columbia University Graduate School of Journalism.

Business Week Online at www.businessweek.com provides readers with access to the magazine's U.S. and international editions, interactive dialogue with editors and reporters and weekly conferences. In addition, Business Week Online contains S&P Personal Wealth for investment guidance; Frontier, an online resource for entrepreneurs and small business owners; e-biz, providing electronic commerce news and information, plus career guidance and an extensive guide to business education. In the first quarter of 2000, page views increased 16% to over 18 million monthly. The number of registered users grew 23.4% during the quarter to 765,000.

Founded in 1888, The McGraw-Hill Companies is a global information services provider serving the financial services, education and business information markets through leading brands such as Standard & Poor's, Business Week and the McGraw-Hill educational imprint. The corporation has more than 400 offices in 32 countries. Sales in 1999 were $4 billion. Additional information is available at www.mcgraw-hill.com.

Enhancing chemical management within the framework of existing TSCA regulations.(MANAGING COMPLIANCE)(Toxic Substances Control Act)

In the last 2 years, momentum has been building for significant reform of the Toxic Substances Control Act (TSCA). In September 2009, EPA Administrator Lisa Jackson released a set of core principles to strengthen U.S. chemical management laws. Shortly thereafter, in April 2010, Senator Frank R. Lautenberg, D-N.J., introduced legislation to overhaul TSCA, dubbed the "Safe Chemicals Act of 2010."

[ILLUSTRATION OMITTED]

While it recently was speculated that a divided House and Senate would prevent any TSCA legislation from passing in 2011, a Feb. 3 Senate hearing to assess the effectiveness of U.S. chemical laws revealed that there still is strong support for TSCA reform.

"We are committed to being part of a bipartisan process to achieve modernization of TSCA," said Cal Dooley, president of the American Chemistry Council, an industry group.

However, the path to reform likely will take some time. Even if a bill is passed this year, EPA still will need to so through a rulemaking process to promulgate any resulting regulations. This process could take some time, so any changes to the current chemical control law still are several months, if not years, away.

With this in mind, EPA has been working hard to enhance chemical management within the scope of the current TSCA regulations. A summary of these changes follows.

UNDERSTANDING ENHANCEMENTS

Following the 2009 announcement, EPA has been hard at work modernizing TSCA through the existing limits of the law. To date, they have released eight chemical action plans and are in the process of completing two more. The chemical action plan (CAP) indicates that the agency will be taking regulatory action through TSCA 5Ca)(2), 5(b)C4) and 6(a) to increase requirements, restrict or ban numerous chemicals. Other notable enhancements include:

* In January 2010, EPA announced that it would review confidentiality claims submitted under TSCA 8(e) to enhance the public's access to "critical health and safety information on chemicals." Following this announcement, EPA published a statement that announced that it generally would deny confidentiality claims for the identity of chemicals in health and safety studies filed under TSCA "except in specific circumstances" and that confidential business information (CB1) was to be rejected.

Chemicals affected by this action are those submitted to EPA with studies that show a substantial risk to human health and the environment and that previously have been disclosed on the TSCA Chemical Inventory. Under TSCA, companies may claim a range of sensitive, proprietary information as CBI. Under Section 8(e), companies that manufacture, process or distribute chemicals are required to immediately provide notice to EPA if they learn that a chemical presents a substantial risk of injury to health or the environment. Section 8(e) reports are made available on EPA's Web site. Until now, companies routinely claim CBI. The new policy will increase the amount of information available by granting public access to the chemical identification information submitted, along with other health and safety data under Section 8(e).

* An announcement was made in May 2010 that EPA has performed a pilot program reviewing CBI claims submitted within the past 5 years. On Feb, 10, EPA notified five companies that 14 chemicals for which they had submitted confidential health and safety studies would be made public on the 31" day after the company receives the determination.

* On Feb. 25,2010, EPA published a proposed rule requiring testing on 29 high production volume chemicals. Following a public meeting in August 2010, a final rule was published Jan. 7 requiring manufacturers to submit data on 19 substances. This group of chemicals targets a wide variety of consumer and industrial chemical products. Data collected through TSCA Section 4 will allow EPA to obtain critical information and develop plans to mitigate risks as well as increase transparency by providing hazard characterizations to the general public.

EPA also has made changes to IUR reporting to increase transparency and frequency. The rule currently states that reporting must occur every 5 years, but the proposed rule requires reporting every 4 years. This would provide consumers with an increased ability to determine which chemicals are being produced in their vicinity. The proposal also mandates electronic reporting, so the information will be available to the public faster and on a more consistent basis.

* In March 2010, EPA launched its TSCA chemical inventory for free on the Web. This especially is notable as this is the first time that this inventory has been offered for free, and is part of a series of ongoing steps he agency is taking to empower the public with important information. The inventory contains a consolidated EPA list of thousands of industrial chemicals.

* In May 2010, EPA added 6,300 chemicals and 3,800 facilities to the Envirofacts database, which is Internet accessible and provides information about environmental activities that may affect air, water and land The database also provides tools for analyzing the data and includes facility name and address information, an aerial image of the facility and surrounding area and the map location of the facility. In addition, the database links to other EPA information on the facility, such as EPA's inspection and compliance records that are available through the Enforcement Compliance History Online (ECHO).

* The December 2010 availability of the Chemical Data Access Tool, which is used to find health and safety data that has been submitted to the agency under authorities in sections 4,5 and 8 of TSCA. Some of this data is being provided to the general public for the first time with the hopes that as the agency collects more information the search tool will continue to grow and will help to streamline access to a broad range of chemical health and safety data.

* On a state level laws have been passed to phase out or ban specific substances; proposed comprehensive chemical state initiatives and even resolutions from states calling on congress to reform TSCA.

EXPLORING THE IMPACT ON BUSINESS

Many companies will be affected by these changes, as almost every business involved in the chemical industry is impacted by TSCA in some way (with some exceptions among food, drug, cosmetic, nuclear and pesticides companies). In addition, raw materials, intermediates and finished goods are regulated by TSCA. Full lifecycle, or cradle-to-grave, compliance is an essential component of TSCA, and most manufacturing/importing, processing and disposal activities are TSCA regulated. If companies do not comply with TSCA, they could face severe legal repercussions, including criminal and civil penalties, damage to the brand or company reputation and negative impact on a company's ability to do business. Personnel that demonstrate willful and knowing non-compliance also face imprisonment.

The risk of financial damage also is high if a company is non-compliant, as non-compliant companies may receive fines and penalties and experience a loss of business revenue if production is stopped.

The penalties for non-compliance are severe, and companies found to be non-compliant can face penalties up to $37,500 per day or imprisonment for up to 1 year, or both. There also is a 5-year statute of limitations, and criminal penalties for "knowing" or "willful" violations can be imposed in lieu of, or in addition to, civil penalties.

In addition, as more and more states pass legislation to ban or restrict chemicals on a case-by-case basis, industry will continue to be burdened by this patchwork of regulations that ultimately will have a negative affect on development, production and sales. Currently, states are preempted by TSCA authority, but it has been proposed to remove this provision. This would allow states to impose different requirements from that of the federal act. A lack of regulatory uniformity could be quite burdensome to industry.

[ILLUSTRATION OMITTED]

PREPARING FOR IMMINENT CHANGE

To ensure compliance with TSCA, experts recommend developing and maintaining a comprehensive and detailed plan, which should include the following:

* Checking the TSCA inventory for substances imported or manufactured, including the ingredients in finished products;

* Reviewing individual state regulations for banned or restricted substances;

* Reviewing TSCA R&D exemption requirements and setting up procedures to govern related activities;

* Obtaining import certification once the status of the substance or product to be imported has been checked against the TSCA inventory;

* Establishing processes for tracking 12(b) exports and assisting with export notification;

* Establishing processes for compliance with adverse effects reporting and recordkeeping;

* Monitoring and tracking regulatory changes that are likely to impact business; and

* Maintaining required records and auditing against various recordkeeping requirements. Chemical companies also should consider becoming more involved in the reform movement, possibly through industry association such as SOCMA, the ACC or SCHC.

It also is important to note that legislators are beginning to take action on a state level and that many bills are passing quickly and quietly on this level. While the promulgation of the Safe Chemicals Act would ensure some consistency on a federal level, many states now are passing the various elements of the act on an individual basis. It is imperative for companies to closely monitor the chemical control laws for the states in which they conduct business.

Erin McVeigh is a regulatory research analyst for 3E Co. and Tony Harris is a senior EHS compliance solutions engineer with 3E Co. Visit http://3ecompany.com for more information.