Tax-exempt U.S. orgs number 1.63 million
Posted on November 17, 2012 at 14:42 PM EST
Tax-exempt U.S. orgs number 1.63 million At a time when the economy is struggling with a gaping budget deficit, nonprofits such as American Bureau of Shipping and the U.S. Polo Association operate large-scale, profitable enterprises tax free. Heads Up Hewlett-Packard reports fiscal fourth-quarter earnings Tuesday and while Wall Street expects net income to jump almost sixfold to $1.38 billion after the computer maker took a write-down on its Palm acquisition a year earlier, sales are expected to slip 5.2 percent to $30.4 billion. The Palo Alto company, hit by economic malaise and a shift away from traditional computers toward mobile devices such as the iPad, plans to cut 29,000 jobs and focus on corporate customers and narrower product lines to regain ground.