What’s New at IIC

Role of Speculation on Oil Prices

IIC, Inc. has recently completed a comprehensive analysis of the reasons that led to the rapid increase and consequent decline in crude oil and refined product prices last year. We found that the devaluation of the dollar and the role of speculators have the greatest impact on the rise in crude oil prices, and these same factor also contributed to the decline as did the recession. Fundamental supply and demand factors did not play a role in the 380 percent increase in crude prices in 2008, and indeed we find that these factors should have led to a price decline, not a price increase. The impact of speculation on gasoline prices likely cost consumers $27 billion last year. Read more

Analysis of the New §1.482 Services Regulations
The Internal Revenue Service revised services regulations that provide new transfer pricing methods for controlled service transactions and include a revised cost safe harbor called the Services Cost Method (SCM). This brief presentation provides a helpful overview to the changes in the regulations for tax planners and examiners. Read more

Federal Minimum Wage Increase
IIC’s research is looking at whether increases in the minimum wage requirement and changes in health care coverage have had a disproportional impact on small business owners. Read more

Antitrust and Small Business
IIC recently published a report on behalf of the SBA which investigates how antitrust laws impact small firms — with case studies focusing on the retail grocery and timber industries. Read more

28th Annual USAEE/IAEE North American Conference
IIC principal Lee O. Upton, III presented a paper on offshore Gulf of Mexico oil and gas activity at North American Conference of the U.S. Association for Energy Economics (USAEE). Read more

Mass. School Building Authority Enrollment Projection Model
IIC assisted the Massachusetts School Building Authority (MSBA) in the development of a computer-based enrollment projection model. Read more

Approach to Management

Most projects at IIC, Inc. are organized with a project leader who directs the research and analysis and is responsible for managing the day-to-day project work.

Research assistants and associates are responsible for collecting and analyzing data, performing literature reviews, and reviewing other documents and information. IIC, Inc. has a rigorous quality control policy to ensure accuracy in all data collection and analysis tasks and also employs a peer-review process to ensure that all final work product meets our high standards.

The project manager is typically responsible for the technical and cost performance on a project. We employ a project plan which encompasses specific milestones and deliverables to guide and assess the status of the technical program. In a typical research project, the project team meets at least once a week to discuss progress on specific tasks, problems encountered, and how to resolve these problems. Staffing needs and direction are also discussed. Once a month the project manager reviews the hours spent on the project and ensures that the work is being performed within budgetary guidelines. A detailed cost plan forms the basis of the cost control program. The project manager maintains regular contact with the client to review progress and ensure that the work is being performed in a timely manner that will meet the client’s objectives.

In addition, IIC, Inc. does not have an administrative management system that is operationally distinct from the rest of the corporate structure. Rather, the professional staff members of IIC, Inc. perform the administrative functions in addition to their project-related tasks. This is considered desirable because it allows for close coordination of the actual project work with administrative project functions such as progress reports, expenditure of project funds, and staff assignments. Time and expense tracking are computerized, thus allowing for easy access to the information in a timely fashion. In addition, the utilization of professional staff in administrative as well as project roles minimizes the overhead costs to the firm.


About IIC Our Work Clients Approach to Management Offices History The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into small manageable tasks, and then starting on the first one. Mark Twain		What’s New at IIC Role of Speculation on Oil Prices IIC, Inc. has recently completed a comprehensive analysis of the reasons that led to the rapid increase and consequent decline in crude oil and refined product prices last year. We found that the devaluation of the dollar and the role of speculators have the greatest impact on the rise in crude oil prices, and these same factor also contributed to the decline as did the recession. Fundamental supply and demand factors did not play a role in the 380 percent increase in crude prices in 2008, and indeed we find that these factors should have led to a price decline, not a price increase. The impact of speculation on gasoline prices likely cost consumers $27 billion last year. Read more Analysis of the New §1.482 Services Regulations The Internal Revenue Service revised services regulations that provide new transfer pricing methods for controlled service transactions and include a revised cost safe harbor called the Services Cost Method (SCM). This brief presentation provides a helpful overview to the changes in the regulations for tax planners and examiners. Read more Federal Minimum Wage Increase IIC’s research is looking at whether increases in the minimum wage requirement and changes in health care coverage have had a disproportional impact on small business owners. Read more Antitrust and Small Business IIC recently published a report on behalf of the SBA which investigates how antitrust laws impact small firms — with case studies focusing on the retail grocery and timber industries. Read more 28th Annual USAEE/IAEE North American Conference IIC principal Lee O. Upton, III presented a paper on offshore Gulf of Mexico oil and gas activity at North American Conference of the U.S. Association for Energy Economics (USAEE). Read more Mass. School Building Authority Enrollment Projection Model IIC assisted the Massachusetts School Building Authority (MSBA) in the development of a computer-based enrollment projection model. Read more Approach to Management Most projects at IIC, Inc. are organized with a project leader who directs the research and analysis and is responsible for managing the day-to-day project work. Research assistants and associates are responsible for collecting and analyzing data, performing literature reviews, and reviewing other documents and information. IIC, Inc. has a rigorous quality control policy to ensure accuracy in all data collection and analysis tasks and also employs a peer-review process to ensure that all final work product meets our high standards. The project manager is typically responsible for the technical and cost performance on a project. We employ a project plan which encompasses specific milestones and deliverables to guide and assess the status of the technical program. In a typical research project, the project team meets at least once a week to discuss progress on specific tasks, problems encountered, and how to resolve these problems. Staffing needs and direction are also discussed. Once a month the project manager reviews the hours spent on the project and ensures that the work is being performed within budgetary guidelines. A detailed cost plan forms the basis of the cost control program. The project manager maintains regular contact with the client to review progress and ensure that the work is being performed in a timely manner that will meet the client’s objectives. In addition, IIC, Inc. does not have an administrative management system that is operationally distinct from the rest of the corporate structure. Rather, the professional staff members of IIC, Inc. perform the administrative functions in addition to their project-related tasks. This is considered desirable because it allows for close coordination of the actual project work with administrative project functions such as progress reports, expenditure of project funds, and staff assignments. Time and expense tracking are computerized, thus allowing for easy access to the information in a timely fashion. In addition, the utilization of professional staff in administrative as well as project roles minimizes the overhead costs to the firm.