October 4, 2022

Accounting News Roundup: Bad Projection at Walgreen; More Trouble for Hertz; A Threat to Coffee | 08.20.14

Walgreen Shakeup Followed Bad Projection [WSJ]
Oops: "Wade Miquelon forecast $8.5 billion in fiscal 2016 pharmacy-unit earnings, based partly on contracts to sell drugs under Medicare. Last month, directors got a shock. Mr. Miquelon suddenly cut that forecast by $1.1 billion."

Hertz withdraws full-year forecast, cites accounting review, challenges [Reuters]
The company still hasn't issued its Q1 results and now Q2 may also be delayed.

Overstock to Allow International Customers to Pay in Bitcoin [DealBook
Patrick Byrne, everyone: "I know that’s it’s become part of the Bitcoin lore in the United States to shop on Overstock. My hope is that would happen at a global level.”

SEC will scrutinize municipal advisers’ rules compliance [JofA]
For anyone in the government space: "CPAs and others who provide certain advice to municipalities—including tax advice on municipal securities offerings—are required to register as municipal advisers under the new rules."

The Future Of Coffee Looks Bitter And Pricey, Courtesy Of Climate Change [FC]
The tree responsible for 70% of the world's coffee supply is in danger.
 
Cops: Woman Beat Man, 64, Over Gas Passing [TSG]
Surprising that this doesn't happen more often: "According to a police report, Jessica Cerney, 33, was laying on the couch in a Myrtle Beach residence when Darrell McKnight “came into the house intoxicated and ‘passed gas’ in her face.” Cerney […] told police that she left the home to get away from McKnight, but said that he followed her outside. As the two argued over the incident, Cerney said, the cursing McKnight approached her in a “threatening manner.” Cerney said that when McKnight bent down, she “struck him in the face approximately three times with a closed fist.” The blows left McKnight with a swollen right eye, for which he subsequently received treatment at a local hospital. Cerney, who was not drunk, did not suffer any injuries during the confrontation."

 

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