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December 6, 2022

Accounting News Roundup: EY’s Weinberger on Income Inequality; Tennessee’s Settlement Over Jock Taxes; When the Boss Is Younger Than You | 07.08.15

Corzine, Other Ex-MF Global Officials Settle Suit for $64.5 Million [WSJ]
This is the third settlement in the MF Global case. PwC's $65 million settlement is still waiting for approval from Judge Victor Marrero.

Reducing Income Inequality Is a Pro-Business Idea, Says EY CEO [The Street]
Mark Weinberger spins it well: "Companies should have a social interest in reducing income inequality, he said, but he reminded the audience that there's a business interest as well, given that 70% of GDP growth in the U.S. comes from consumer consumption."

Toshiba sounds out banks about credit line amid accounting probe -sources [Reuters]
Somewhere between $4.1 and $4.9 billion should suffice. A company spokeswoman denied they were seeking the funding.

Settlement between NHL players, Tennessee latest setback for odd ‘jock taxes’ [WaPo]
Players settled with TN for $3.32 million "over a possibly unconstitutional tax on professional athletes there." TN's jock tax was flat, a minimum of $2,500 per game, per player with a max of $7,500 per year. 

10 imperatives for internal audit [JofA, Earlier, Earlier]
In case some of you opiners are thinking about going in-house.

Why the Boss Is Younger Than You Are [WSJ]
Well, younger than some of you. The article notes that Gen X CEOs (defined as born between '65 and '80) have appeared at companies like McDonald's, Harley-Davidson, Microsoft and 21st Century Fox. Deloitte's Cathy Engelbert, who is 50, falls into this group.

Time Warner Cable must pay $229,500 to Texas woman it robocalled 153 times [The Guardian]
$1,500 per call? Doesn't seem like enough.

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