Self-Employed Women Balance Work, Family Life

2/26/2009 Office of Advocacy Press Release:

Study Compares Self-Employed Women To Wage-And-Salary Earners

WASHINGTON, D.C. – Self-employed women are able to spend more time with their children and families, compared to their wage-and-salary earning counterparts, according to a study released today by the Office of Advocacy of the U.S. Small Business Administration. The study finds that self-employed women spend about 3.5 more hours per week in household activities than wage-and-salary earning women do, and six more hours than men do.

“Previous studies have established that women enter self-employment for reasons other than potential earnings and that life-style factors heavily influence their decision,” said Shawne McGibbon, Acting Chief Counsel for Advocacy. “This study documents that self-employed women’s time-use patterns are in fact different from those of wage-and-salary earning women. Self-employed women spend less time on work-related activities and more time on household activities and child care.”

Advocacy released Self-Employed Women and Time Use, written by Tami Gurley-Calvez, Katherine Harper, and Amelia Biehl, at the National Women’s Business Council’s 2009 Women’s Business Summit in Washington, DC. The report used data from the American Time Use Survey (2003-2006), sponsored by the Bureau of Labor Statistics, and conducted by the U.S. Census Bureau.

The authors found that the largest differences in time use between self-employed women and men were in the area of secondary childcare, where a parent is at the same location as the child but is primarily engaged in some other activity such as work or household chores. Moreover, they found that self-employed women also work about 10 fewer hours per week than self-employed men do. Interestingly, the authors also found that relative to men, higher-earning women are slightly more likely to enter self-employment than their lower earning peers are.

The Office of Advocacy, the “small business watchdog” of the federal government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats, and it funds research into small business issues.

For more information and a complete copy of the report, visit the Office of Advocacy website at www.sba.gov/advo.

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The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed Chief Counsel for Advocacy advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policymakers. For more information, visit www.sba.gov/advo, or call (202) 205-6533.

Business Spending on Information and Communication

Business Spending on Information and Communication
Technology Infrastructure Reaches $264 Billion in 2007

U.S. businesses spent $264.2 billion on information and communication technology (ICT) equipment and computer software in 2007, a 4.4 percent increase over 2006, according to the U.S. Census Bureau.

Each year, the Census Bureau publishes sector-level data from its Information and Communication Technology Survey for noncapitalized and capitalized spending as a supplement to the Annual Capital Expenditures Survey. Noncapitalized expenditures are written off in the same year in which they are made, while capitalized expenditures are usually depreciated over time.

Noncapitalized expenditures made up 35.7 percent, or $94.4 billion, of spending on ICT equipment. Capitalized spending accounted for 64.3 percent of total spending, or $169.8 billion, a 5.9 percent increase from 2006.

Among noncapitalized expenditures, purchases of ICT equipment accounted for $20.2 billion (21.4 percent), an increase of 7.0 percent from 2006; operating leases and rental payments accounted for $17.8 billion (18.8 percent); and computer software expenditures accounted for $56.4 billion (59.7 percent).

Of total capitalized spending in 2007, purchases of ICT equipment accounted for $106.5 billion, an increase of 5.3 percent from 2006. Capitalized purchases and payroll for developing software accounted for $63.3 billion, an increase of 6.8 percent from 2006.

Sector highlights:

* Information — Spending in this sector totaled $63.8 billion, or 24.1 percent of total ICT expenditures. Noncapitalized spending saw a 10.5 percent decrease from 2006, while capitalized expenditures increased 4.1 percent over the same period.
* Finance and insurance — Spending in this sector totaled $52.5 billion, or 19.9 percent of total ICT spending in 2007. Capitalized spending at $29.1 billion increased 6.4 percent from 2006.
* Manufacturing — Spending in this sector reached $36.2 billion, representing 13.7 percent of total ICT spending for 2007. Noncapitalized expenditures were $17.7 billion, an increase of 2.5 percent over 2006. Capital expenditures were $18.5 billion.
* Professional, scientific, and technical services — In 2007, spending in this sector totaled $24.9 billion, or 9.4 percent of total ICT spending. Noncapitalized expenditures were $11.3 billion. Capitalized expenditures were $13.6 billion.
* Health care and social assistance — This sector spent $21.4 billion, representing 8.1 percent of total ICT spending. Capitalized expenditures reached $14.5 billion, a 10.9 percent increase from 2006.

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The estimates in this report are based on a stratified random sample of about 47,800 companies with employees. Responding firms account for about 89.8 percent of the total e-business infrastructure spending estimate.

Data in the report are subject to sampling variability as well as nonsampling errors. Sources of nonsampling error include errors of response, nonreporting and coverage. More details concerning survey design, methodology and data limitations are provided in the full report, which is available online at <www.census.gov/csd/ict/>.

SEC v. Phillip R. Trujillo, Wealth Management Resources

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 20917 / February 27, 2009

SEC v. Phillip R. Trujillo, Wealth Management Resources, LLC, PTV 22, LLC, PTV 33, LLC, and PTV 44, LLC, Civ. No. 09-cv-00403-MSK-KMT (D. Colo.) (February 26, 2009)

SEC Seeks Emergency Relief to Stop Fraudulent Offering of Unregistered Securities

The Commission charged Phillip R. Trujillo, of Windsor, Colorado, and his company, Wealth Management Resources, a Colorado LLC, with conducting a fraudulent offering of unregistered “units” in three Colorado LLCs, PTV 22, PTV 33, and PTV 44 (PTVs). The Commission alleged that Trujillo induced investors to invest over $5 million based on false representations regarding guaranteed monthly returns, and safety and liquidity of principal. The Commission also alleged that Trujillo continued to make these false representations to later investors after he had already failed to pay promised monthly returns and to refund principal upon the request of earlier investors. Trujillo allegedly induced later investors to invest an additional $1.7 million after defaulting on obligations to earlier investors.

The Commission’s complaint alleges that the defendants violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The Commission is seeking permanent injunctions, disgorgement plus prejudgment interest, and civil penalties against all defendants. The Commission is also seeking emergency relief in the form of a temporary restraining order, preliminary injunction, an order to provide an accounting, an asset freeze, expedited discovery and an order prohibiting the alteration or destruction of documents.