U.S. charges three Swiss bankers in offshore account case

Three Swiss bankers accused of conspiring with American clients to hide more than $420 million from the tax-collecting U.S. Internal Revenue Service were indicted, the U.S. Attorney's Office in Manhattan said on Wednesday.
The indictment named Stephan Fellmann, Otto Huppi and Christof Reist, all former client advisers with an unnamed Swiss bank. None of the bankers have been arrested, authorities said.
Their attorneys were not immediately known.
The indictment said the unnamed bank did not have offices in the United States.
Banking secrecy is enshrined in Swiss law and tradition, but it has recently come under pressure as the United States and other nations have moved aggressively to tighten tax law enforcement and demanded more openness and cooperation.
In April, two Swiss financial advisers were indicted on U.S. charges of conspiring to help Americans hide $267 million in secret bank accounts.
In January, prosecutors charged three Swiss bankers with conspiring with wealthy taxpayers to hide more than $1.2 billion in assets from tax authorities.
UBS AG, the largest Swiss bank, in 2009 paid a $780 million fine as part of a settlement with U.S. authorities who charged the bank helped thousands of wealthy Americans hide billions of dollars in assets in secret Swiss accounts.

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"Fiscal cliff" turmoil could hit 100 million taxpayers: U.S. IRS

WASHINGTON (Reuters) - U.S. tax authorities warned on Wednesday that as many as 100 million taxpayers - far more than previously estimated - could face refund delays if lawmakers' "fiscal cliff" negotiations fail to fix the alternative minimum tax (AMT) before year-end.
The Internal Revenue Service said in a letter to lawmakers that it was raising its estimate on AMT impact from 60 million.
"It is becoming apparent that an even larger number of taxpayers - 80 to 100 million of the 150 million total returns expected to be filed - may be unable to file," IRS Acting Commissioner Steven Miller wrote.
The AMT is a levy designed to ensure that high-income taxpayers pay a minimum tax. Democrats and Republican typically agree to adjust the tax for inflation to prevent unintended taxpayers from being hit by it.
This year, however, its fate is tied to heated negotiations - primarily between President Barack Obama and House Speaker John Boehner - over future taxes and federal spending as they try to avoid the automatic tax increases and spending cuts known as the fiscal cliff.
The AMT fix for calculating 2012 income tax has broad bipartisan support, but so far been drowned out by the larger federal budget questions.
Without action soon to fix the AMT, there could be "lengthy delays of tax refunds and unexpectedly higher taxes for many taxpayers," Miller said.
The IRS needs congressional authority to update tax-filing software and forms so that Americans can start their tax returns next year. Inaction by Congress on the AMT has left IRS unsure which taxpayers will need to pay the AMT tax.
An IRS spokesman declined to comment on the agency's AMT preparations to date.
"Failure to act on the fiscal cliff will throw the 2013 tax filing season into chaos," Representative Sander Levin, a Michigan Democrat, said in a statement.
About 4 million taxpayers pay the AMT now because Congress routinely "patches" it for inflation to keep it from reaching down into middle-income tax brackets.
Without a patch for 2012, up to 33 million taxpayers will have to pay the AMT, according to IRS.
Obama's most recent offer to Republicans included a permanent AMT patch.
House Republicans plan to vote Thursday on a bill to address the fiscal cliff that also includes an AMT patch.

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What's on the table now in 'fiscal cliff' talks

An update on the latest offers on the table in negotiations to avert a year-end avalanche of federal tax increases and spending cuts known as the "fiscal cliff":
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INCOME TAXES
House Speaker John Boehner would allow income tax rates to rise for people making more than $1 million per year and would hold rates where they are for everyone making less. The top rate on income exceeding $1 million would go from 35 percent to 39.6 percent.
President Barack Obama would freeze income tax rates for taxpayers making $400,000 or less and raise them for people making more.
The two sides are moving closer together. Previously, the Republican House leader opposed allowing any tax rates to go up; Obama wanted higher taxes for individual income above $200,000, or $250,000 for couples.
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PAYROLL TAX
Obama has dropped his proposal to extend a temporary cut in Social Security payroll taxes paid by 163 million workers. Republicans want that tax to go back up.
Raising the payroll tax by 2 percentage points to its old level would cost a worker making $50,000 a year another $1,000 — or a little more than $19 per week — during 2013.
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SOCIAL SECURITY
Obama is offering to reduce cost-of-living increases for Social Security recipients. Republicans have been seeking this as a key to long-term deficit reduction. But many congressional Democrats oppose it.
Government pensions and veterans' benefits would also get smaller cost-of-living increases.
In addition, taxpayers, especially low- and middle-income families, would pay more because of changes in the way that tax brackets are adjusted for inflation.
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MEDICARE
Obama continues to reject Republicans' plan to raise the eligibility age for Medicare from 65 to 67. Boehner now says raising the eligibility age is not essential to a deal.
Obama wants to limit cuts in Medicare and other health care programs to about $400 billion over 10 years; Republicans want to overhaul Medicare to save even more money.
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DEBT LIMIT
Obama wants a deal that would raise the amount the government is allowed to borrow to cover the next two years, to avoid another debt showdown with Congress until after the 2014 midterm elections.
Previously, Obama had demanded permanent authority to increase the debt ceiling without congressional approval. Republicans want Congress to be part of the decision-making process so they can demand budget-cutting in exchange for additional borrowing.

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Swiss lender ZKB says three charged by U.S. authorities

Swiss lender Zuercher Kantonalbank (ZKB) said two of its bankers and one former employee had been charged by U.S. authorities, which had accused them of helping U.S. clients avoid taxes.
The three were indicted over changes of conspiring with American clients to hide more than $420 million from the U.S. Internal Revenue Service, the U.S. Attorney's Office in Manhattan had said on Wednesday.
The indictment did not identify the bank concerned but named Stephan Fellmann, Otto Hueppi and Christof Reist, who it said were all former client advisers for the unnamed institution.
None of the bankers had been arrested, authorities said.
Banking secrecy is enshrined in Swiss law and tradition but has recently come under pressure as the United States and other nations have moved aggressively to tighten tax law enforcement and demand more openness and cooperation.
U.S. authorities are investigating at least 11 banks, including Julius Baer , Credit Suisse and other Swiss regional banks, along with UK-based HSBC Holdings and Israel's Hapoalim, Mizrahi-Tefahot Bank Ltd and Bank Leumi .
In February, Wegelin & Co, Switzerland's oldest private bank, was indicted.
UBS AG , the largest Swiss bank, in 2009 paid a $780 million fine as part of a settlement with U.S. authorities who charged the bank helped thousands of wealthy Americans hide billions of dollars in assets in secret Swiss accounts.
ZKB said in a statement it was cooperating with U.S. authorities. The bank said it could give no details about the employees due to the ongoing investigation and did not confirm what they had been changed with.
ZKB bankers Fellmann and Reist could not be reached for comment. Hueppi declined to comment.

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Crowdfunding Shakeup On The Horizon: What’s in it for the Contributor?

Douglas E. Castle, the Chief Executive Officer of CrowdFunding Incubator LLC (“CFI”) envisions a substantial shakeup in the crowdfunding industry in 2013 where contributors, who have been only remotely involved in the myriad of business startups, early-stage ventures and napkin sketch ideas which they have funded, are going to ask for some type of accounting from their beneficiaries.

Westchester, NY (PRWEB) December 25, 2012
Douglas E. Castle, the Chief Executive Officer of CrowdFunding Incubator LLC (“CFI”), predicts a substantial shakeup in the crowdfunding industry in 2013. The disruption will begin where both project promoters and contributors, who have been only remotely involved with the projects which they have helped finance, are going to ask some tough questions of platform providers and project sponsors. Then, there will begin a purge of this largely unmonitored industry coupled by a flight to quality, in terms of crowdfunding site operators, project promoters, and benefits to more equitably match their contributions.
“Most contributors participate in a project because they are excited by the concept, or because they are impassioned by the underlying idea or project mission. It’s very much like entering into a club based upon a common cause and an assumption of trust," said Castle.
“In many cases the extra enticement includes some special benefits secondarily offered by project sponsors such as discount coupons, prepaid orders for prototypes, beta test opportunities, a dinner with the founders; generally speaking, something of value which may or may not actually be realized. The crowdfunding model to date has been based mostly upon the thrill, the gamble, the feeling of belonging and the hope, of course, that the project will succeed.
“Now that crowdfunding platforms have been alive for several business cycles with plenty of projects funded, contributors are going to want to start seeing results. They are going to want to see, at minimum, that their funds weren’t wasted or misappropriated, and that the ideas in which they chose to participate are taking some shape...making some progress. Naturally, they would also like for the project promoters to keep in touch with them, to have them incorporated in the news loop,” Castle added. “There’s a potential for some backlash against the crowdfunding sites and against the project promoters if the contributors feel that they have been orphaned.
CFI’s website, which is expected to go live in January, is based on a more rigorous screening of prospective projects and their promoters than is generally performed by the other players, and upon the significance of the founding role, both at the first funding, and as the projects move forward, played by the contributors. You can view CFI’s LinkedIn Corporate Summary at http://www.linkedin.com/company/crowdfunding-incubator. One of CrowdFunding Incubator’s criteria for acceptance of a project is that the contributors are given something of significant value for their initial vote of faith and confidence, and that the project sponsors maintain a high level of accountability and ongoing, high-touch contact with all of their benefactors, regardless of their contribution level.
“In the coming year, many crowdfunding bets are going to be coming home to roost. Some projects will have evaporated, while others will have made admirable progress. But regardless, 2013 is going to be the year when the contributors want to hear word back from their hatch-lings. The biggest mistake that the promoters of any project could make is to be either dishonest or to appear ungrateful. Everyone understands that in business, there is an element of risk - but contributors, especially after being socked with their holiday credit card and installment payment bills, are going to want to get some kind of accounting, as well as some kind of acknowledgement that they are still members of the clubs that they opted into last year or earlier.”
The principals at CrowdFunding Incubator are anticipating 2013 to be a year of reckoning, and believe that any successful future crowdfunding models will have to take project quality, integrity, accountability of the promoters, and communications between recipients and providers of funds very seriously. CFI stands ready for the anticipated flight to quality and to embrace a new standard of professionalism, by legitimate project hopefuls, as well as by prospective contributors.

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New Website CarHistory.us.org Warns of Flooded Car Scams and Dangers

Should consumers be in the market for a used car, chances are that the car identified has been involved in a water incident. With a vehicle history report from CarHistory.us.org this problem can be spotted early.

New York, NY (PRWEB) December 25, 2012
Buying a flooded car carries a substantial amount of risk and consumers need to be aware of those risks before parting with their hard-earned money. Assessing the dangers posed by flooding should not be done casually as most of the damage can never be correctly determined without expert help.
New website CarHistory.us.org can help consumers spot flooded car damage and more with a simple vehicle history report. When a car has been flooded, there is every possibility that some of the electrical components have been damaged and, while there might be no evidence of this at the seller’s yard, and the consumer could soon be spending huge amounts of money on repairs.
Apart from expensive electrical repairs, any warranty that could be remaining on a flooded car will be voided and, should anything happen, the consumer is on your own. This happens because most flooded cars are usually considered write-offs regardless of how sparkling they might appear.
Of course most car dealers will not tell buyers the extent of the flooding and they could easily be the victim of a used car scam. To guard against such a possibility, it is important to obtain an independent review such as what is providing at CarHistory.us.org.
One might wonder why, with all the risks involved, used car dealers are allowed to sell flooded cars. The truth is that the sale of such cars is completely legit – it is really up to consumers to determine the extent of the damage caused by the flood waters as this has a definite influence on price. That is why buyers should consider obtaining a car review from a provider of vehicle history reports. Without such a report, consumers could easily fall into a scam.
About CarHistory.us.org:
At CarHistory.us.org they take pride in providing most comprehensive vehicle history reports in United States and Canada. With hundreds of users daily, motor vehicle report availability and customer service are top priorities for CarHistory.us.org. For more information, visit the company website or call customer service at 1-855-395-6395.

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Demand For Christmas Trees Strong According To American Christmas Tree Association Study

Nearly 33 million Christmas trees were purchased this Christmas season. Christmas trees remain an integral part of the Christmas celebration.

Los Angeles, CA (PRWEB) December 25, 2012
About 33 million Christmas trees were purchased for the 2012 Christmas season, reports the American Christmas Tree Association (ACTA).
A study of approximately 30,000 U.S. households nationwide conducted by Nielsen on behalf of ACTA found that celebrants planned to buy about 22 million real Christmas trees and nearly 12 million artificial trees.
The study also found that 83 percent of U.S. households planning to display a Christmas tree likely used an artificial Christmas tree in 2012, up from 79 percent in 2011. Twenty-three percent of U.S. households displayed a real Christmas tree.
Other key findings included the following:
-- Nearly two-thirds of all American households planned to celebrate Christmas with an artificial Christmas tree; Eighteen percent of all households planned to display a real tree
--More than 50 percent of all households that display an artificial Christmas tree said they planned to display their tree for 10 years or more
--Nearly six percent of all households that display a tree will display both a real and an artificial Christmas tree
--Sixteen percent of all households that display an artificial Christmas tree displayed more than one artificial tree
--The average cost consumers paid for a real tree was $45; the average cost of an artificial tree was $80.00
“These strong numbers indicate that Christmas trees remain a vital part of the Christmas celebration,” said Warner. “This season in particular we have seen how Christmas trees have helped communities to bond and heal.

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President George H.W. Bush Describes for the Blind “It’s A Wonderful Life™” “Eyes Of Christmas™” - Celebrity Broadcast

Top Stars Rally for RPI Fighting Blindness, Sending Their Message out to 160 Million Homes on ION Media Network, Fox-KCOP Channel 13 Los Angeles, Dish and DirecTv, December 25th, Preceded by President George Herbert Walker Bush Describing the Frank Capra Classic, 'It's A Wonderful Life' for the Blind and Vision Impaired. Broadcast Includes Eye Test for Early Detection of Visual Disorders and Degenerative Diseases

(PRWEB) December 24, 2012
On the anniversary of her husband’s death in 1999, Helen Harris, Founder of RP International got the wonderful news of lung cancer reversing at a never before seen rate.
Diagnosed with breast cancer in 2007, Harris underwent surgery at Cedars-Sinai Hospital in Los Angeles, California and was discharged with a positive future. On chemotherapy and hormone shots for nearly five years, the happy ending turned into a nightmare of near immediate death from cancer which was thought to be under control by her physicians.
Harris now finds herself in a battle for her life, and as a blind patient she has a remarkable picture of living in the darkness while the chemotherapy intravenously goes through her body. However, this treatment she says now was not working and no one told her about it.
Harris switched doctors when she was told that she no longer could get PET scans. She found and met with Dr. William Audeh at Cedars-Sinai who was willing to help her. Two weeks after the meeting, Dr. Audeh took over her treatment. Within what he now calls an unbelievable record setting time, Harris began to show remarkable improvement in her lungs. Years ago, they were told that the cancer was traveling at a record speed. Her son was told by her original physician that she would be dead within weeks after a cold turned into pneumonia. This so-called pneumonia turned out to be a massive invasion of lung cancer. Following a visit to a pulmonary specialist, Harris was immediately put onto an oxygen machine in the office. She was told that she would need to use this machine for the rest of her life since there is not enough oxygen helping her. Harris left the office wearing her oxygen machine with no understanding of how this was possible.
Harris reminds us on the anniversary of her husband’s death (December 10th) of the miracle of a massive reduction of fluid and cancer in her lungs that began to formulate. During a doctor visit, the doctor let out a shout as he reviewed the x-rays. Harris asked him why he was shouting, and he explained to her as he read the ever improving x-rays which showed a 90% reversal of the lung cancer. Harris blesses herself with the sign of the cross. She reminiscences as she recalls the moment which she has done before when Dr. William Audeh of Cedars-Sinai Medical Center read the results. Harris states that she has been given the chance for her life to be saved and what has happened to her has never happened to anyone else before.
With months of agonizing side effects, including the hand-foot syndrome which left her with blistering, swollen and peeling hands and feet with numbness and no voice, the blind artist and grandmother undergoes monthly visits to Dr. Audeh’s office for speech therapy to regain her once beautiful voice. She also receives therapy for the numbness and burning in her hands and physical therapy for the swollen and numb feet that keep her from wearing shoes or socks. “This is the price of life”, she says laughing through the wearing treatments and visits to Cedars-Sinai and local physicians while still producing former President George Herbert Walker Bush’s description of “It’s A Wonderful Life.” Written and delivered to NBC by Helen Harris, now grandmother of three boys.
Harris has three sons of her own, two of which have RP. Harris states that her middle son asked her a question yesterday, “mom”, he said, “is your life fulfilled, I mean do you have any unfulfilled wishes.” Harris responded, “of course, I want to live to see the cure for RP, so you, your brother and I can see again.” After fifty years of searching for the cure, the adult cell transplant was kicked-off by Harris in 1984 when she funded the first patient research and restoration of partial vision in New Orleans through RP International. With this hope, Harris states, “someday, I will see again and paint.”
On Christmas Eve, December 24th, NBC will air “It’s A Wonderful Life” described by Former President George Herbert Walker Bush in its entirety and on Christmas Day, December 25th, at 8 p.m. “The Eyes of Christmas” airs nationwide Christmas Eve morning nationally at 6 a.m. and on KCOP Fox Channel 13 in Los Angeles from 4 to 6 a.m., with a hundred stars including Vin Scully, Bob Costas, George Burns, Bob Hope, Celine Dion, and fifty other Hollywood top stars.
I put the stars in the eyes of blind children for Christmas. Twenty years ago, what was once a forgotten show, I put on CD in English and Spanish as well as Korean. Now I want the life of everyone with this horrible cancer to get treatment as I have. With the treatment of children’s eyes and the best cure in the world for eyesight restoral, the joy of living to see is mine forever.

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CGJ-Shop Launched its New Website, and Announced a Winter Jacket Promotion

CGJ-Shop, a leading online shop of winter jackets, proudly announces its new website, which is easy to navigate, and people can find their favorite jackets easily.

(PRWEB) December 25, 2012
CGJ-Shop, a leading online shop of winter jackets, proudly announces its new website, which is easy to navigate, and people can find their favorite jackets easily. Moreover, CGJ-Shop announced a winter jacket promotion, up to 58% off.
The new website promotes comprehensive discussions on the latest fashion trends. In addition, it offers in-depth reviews, coupons, and discounts for brand jackets, like Canada Goose Jakke and Canada Goose Norge.
Winter jackets have become very important in a cold weather, and even become a fashion trend among some many people. But, how to select a suitable Winter jacket can be a little complex.
The updated website aims to make it simple and affordable to buy suitable winter jackets online.
Alisa James, CEO of the company, said, “We have more than six years experience in the winter parka industry. The demand for winter jackets is great in this season, and we are so excited to help more people with our new website.”
CGJ-Shop is selling hundreds of Canada Goose jackets in different colors and styles. They have vowed to spare no energy to provide their best products for costumers as well as fast delivery.
In addition, CGJ-Shop has launched a promotion to expand the online market share. For those searching for winter jackets, it can be a good chance.  
About CGJ-Shop

Founded in 2003, CGJ-Shop (Canadagoosejakkeinorge.eu) is a popular online shop for winter jackets. It has always paid much attention to the latest fashion trends. With its reviews and coupons, customers can get better winter parkas and relative services at lower cost.

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Daimer Debuts Carpet Cleaners For Car Dealerships Seeking Interior Auto Detailing Steam Cleaner Machines Featuring Higher Power and A Larger Water Capacity

Car dealers offer similar car detailing services as private detailers, and require the best and most effective upholstery carpet cleaner machines to maximize productivity and clean cars as swiftly as possible. The latest steam cleaners offer fast heating systems, quick drying times, and exclusive technologies to achieve outstanding cleaning results.

Woburn, MA (PRWEB) December 25, 2012
Daimer Industries, Inc.®, the world's most highly recognized American brand of cleaning systems for commercial use, including heated carpet cleaners, enhanced commercial carpet cleaners, truck mount carpet cleaners, and other models totaling over 700 shipped to over 200 countries, is debuting the company's XTreme Power® XPH-9300U, a powerful machine for cleaning car carpeting and mats as well as fabric upholstery. The equipment with outstanding pressure of 220 psi and adjustable temperature levels up to 210º F provides superior cleaning action. Well maintained cars enhance resale values, and offer better interior car cleaning services allowing dealers to justify their higher car detailing prices.
“Maintaining cars' exteriors and interiors is important for exceptional auto detailing, especially for used car dealers trying to maximize selling prices and profits. Newer-looking interiors will create a better impression on prospective buyers. Cleaning professionals are always on the lookout for machines empowered with the latest carpet cleaning equipment technologies, such as low flow functionality and other features resulting in fast drying times and enhanced cleaning results,” says Matthew Baratta, spokesman of Daimer Industries, Inc.®. “Daimer® is pleased to announce the launch of its XTreme Power® XPH-9300U carpet cleaning machines, which feature unsurpassed, advanced technologies that help cleaning professionals clean car interiors in no time. The machine's sophisticated inline heating technology and large water chamber allow operators to clean a large number of cars all day with minimal downtime.”
The XTreme Power® XPH-9300U's carpet cleaners offer high temperatures help remove stubborn dirt buildup from car seats, upholstery, and carpeting quickly and easily. The Adjustable Temperature Control™ (ATC™) technology helps users adjust the temperatures as desired, depending upon the particular types of carpeting. The carpet steam cleaners reach high temperatures within merely five minutes, given the presence of two inline heating elements.
Daimer®'s exclusive low flow technology featured within these carpet steam cleaners reduces the need for as much water as other brands by transferring less water onto the surface, hence reducing the drying time to as low as one hour. Moreover, the XTreme Power® XPH-9300U's 150 inch water column lift and 200 cfm of airflow further maximize cleaning power and minimize drying time, making these carpet cleaners ideal for car dealers and auto detailers, and even commercial furniture/upholstery cleaning contractors, hotels, and businesses for that matter. The world class carpet extractor systems are able to withstand rough commercial cleaning applications due to their rugged construction.
The XTreme Power® XPH-9300U carpet cleaning machines offer 60% greater suction due to Daimer®'s patented wand technology. Users can buy the optional 12" carpet wand if they clean wish to clean wall-to-wall carpeting within their building or elsewhere. The wand offers suction equivalent to an additional vacuum motor. The extra long 25 foot hoses are included with the machines and allow for cleaning even the largest vehicles without moving the machine an inch.
During a promotion Daimer® is supplying free with each carpet cleaner machine its exclusive Eco-Green® Carpet and Upholstery Care solution that helps remove dirt and other tough build-up from carpets and upholstery. Cleaning professionals recommend pre-spraying the surfaces with this solution. Each gallon of the liquid forms up to 356 quart spray bottles worth, which is plenty to clean many cars. The solution extracts immediately since it is completely soap-free. Eco-Green® is completely plant-based and offers the best and most effective environmentally-safe cleaning effects.
Eco-Green® chemicals and low water usage make the XTreme Power® XPH-9300U from Daimer® a greener machine than other commercial carpet cleaners on the market. Accessories included with the machine include a four inch single jet upholstery wand, a 25 feet vacuum hose, and a 25 feet solution hose.
For Additional Information:
Visit Daimer®'s website or call Matthew Baratta directly at (888) 507-2220 to learn more about the XTreme Power® XPH-9300U. The machine is exported to most countries globally.
About Daimer Industries, Inc.®:
Daimer Industries, Inc.® is the world leader of more than 600 models of highly advanced machines, including truck mount carpet cleaners, vapor steam cleaner systems, pressure optimized carpet shampooer equipment, floor steam cleaner systems, pressure wash machines, and other outstanding cleaning technologies with exclusive patented features for tile and grout cleaning, pest control, kitchen cleaning, gum removal, and virtually unlimited other applications globally.

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