FASB to propose relief for private companies from VIE requirements [JofA]
FASB moved closer Wednesday to providing relief for private companies from variable-interest entity (VIE) consolidation requirements for common control leasing arrangements, which are considered costly and irrelevant by many small business owners. The board voted to endorse a decision by the Private Company Council (PCC) to propose an alternative for private companies within GAAP for applying VIE guidance to lessor entities under common control.
NYC comptroller candidate arrested for illegal drug sales [Reuters]
In the latest twist to the city's scandal-hit campaign season, Kristin Davis, 38, allegedly sold prescription pills to a federal informant four times in four months this year, the FBI said. Davis is running for the post of comptroller – in effect the city's chief financial officer – also being sought by former Democratic New York Governor Eliot Spitzer. Spitzer is attempting a political comeback after resigning as governor in 2008 amid a prostitution scandal. Davis has said Spitzer was one of her customers and that she provided him with prostitutes.
Covert war in the workplace… over the holiday rota: Staff deliberately book time off to scupper colleagues' holiday plans [DM]
Online office experts officebroker.com asked around 500 office workers about their holiday booking habits in June this year. The anonymous poll found that as many as one in 20 people had strategically booked their holidays to annoy a fellow worker. Another 13 per cent said they never revealed their holiday intentions for fear of co-workers booking the same time, while around 7 per cent admitted lying about their holiday plans in order to ‘double bluff’ colleagues.
Local chapter of women’s accounting group to celebrate name change [WBJ]
The Times Isn’t for Sale, Its Publisher Declares [NYT]
Since you asked.
'Gang Bang' Party Planner Drops Business Card, Gets Arrested [HP]
Cops got the scoop on Scott Pollock's "gang bang" business back in January after he dropped a business card at a hotel where he was planning group sex parties, City Pages reports. He was convicted of solicitation, inducement, and promotion of prostitution in July and his sentencing date is set for September. Pollock's business plans were foiled "after a manager at the Quality Inn near the Mall of America found the business card for 'Scott, Gang Bang Organizer' of 'Scotty GB Parties' in his parking lot," according to City Pages. Through some light Internet sleuthing, the manager discovered there was one of Pollock's parties planned for that very night at the Bloomington, Minn., Quality Inn.