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Accounting News Roundup: Alibaba *Could* Defraud Investors (If It Wanted To); Crowe Horwath Hiring in South Bend; Improvements to Excel for iPad | 09.11.14

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.

More on Charlie Munger's one-liner:

Microsoft Adds Key Features to Excel for iPad [AWEB]
MSFT impresses David Ringstrom with some updated after he expressed some initial doubts.


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