Short-Seller Carson Block Says He’s Wary of Alibaba [DealBook]
Block told accounting students and "aspiring investors" at Baruch that : “If Alibaba wanted to defraud investors, it absolutely could.”
What is an ‘illegal tax protester,’ and why can’t the IRS use that term any more? [WaPo]
To answer the first question: "Some believe the federal income tax is unconstitutional, others simply don’t want to pony up the cash, and a few have done it as a form of protest against non-tax-related policies such as gay-marriage laws or the Vietnam conflict." To answer the second: Congress passed a law.
S&P: Inversions Could Lead to Credit Downgrades [CFOJ]
ICYMI: "The tax benefits of [inversions] are clear for shareholders. Companies no longer domiciled in the U.S., which has a 35% corporate tax rate, could pay lower taxes and have access to vast stores of cash formerly trapped overseas for buybacks and dividend payments. But S&P’s analysts argued that bondholders would suffer from credit downgrades as a result. 'All you have left is weaker liquidity and higher debt,' said S&P analyst Andrew Chang."
Crowe Horwath adding 100 jobs in South Bend [SBT]
As written, I understand this to mean that if you show up at 9-15, you'll be too late.
Connect with PwC today at @UDelaware! Join us in Purnell Hall at 9-12!
— PwC US Careers (@PwC_US_Careers) September 11, 2014
More on Charlie Munger's one-liner:
— Mike Shaub (@mikeshaub) September 11, 2014