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UNION SHOP: An employment arrangement, usually written into a collective bargaining agreement, in which a firm is free to hire both union and nonunion employees, with the stipulation that workers must join the union once hired. Union shops became a popular method of gaining control over the labor services when closed shops were outlawed by the Taft-Hartley Act passed in 1947. Those states with right-to-work laws effectively outlaw union shops. The alternative to a union shop is an open shop.
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LEGAL BUSINESS ORGANIZATIONS The alternative ways in which a business or firm can be legally organized. The three primary alternatives are proprietorship, partnership, and corporation. Differences among three are mainly based on: (1) number of owners and (2) the liability of the owners. A proprietorship has a single owner with unlimited liability. A partnerships has two or more ownership with unlimited liability. The owners of a corporation have limited liability.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for small children selling products door-to-door.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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IBS
International Bank for Settlements
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