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February 2, 2023

Accounting News Roundup: GM’s Lutz: Numbers Aren’t All Bad; Backpack Blowup Outside IRS; Barry Minkow’s Stripes | 06.15.11

Bob Lutz: I’m Not an Anti-Finance Guy [CFO Journal]
The former General Motors vice chairman has got a knack for numbers, and claims he even put a brake on unnecessary costs occasionally. But he’s got a beef with executives who focus solely on budgets and spreadsheets, instead of focusing on the product and on consumers. And he thinks that’s the biggest cause of Detroit’s downfall – and that Detroit is now back on the right track.

Pandora Prices Its I.P.O. at $16 a Share [DealBook]
Pandora Media on Tuesday priced its initial public offering at $16 a share, above its recently raised target range. The company, whose shares will start trading on the New York Stock Exchange on Wednesday under the ticker “P,” has raised $234.9 million, valuing the business at $2.6 billion.

Firms Squeezed on Tax Bills [WSJ]
During the financial crisis, hosts of small companies fell behind on their taxes for the first time, accountants and lawyers say. Their timing couldn’t have been worse.

Detroit bomb squad detonates suspicious package left outside IRS building [NYP]
Bomb squad officers in Detroit blew up a suspicious package early Wednesday outside a building that houses the Internal Revenue Service, the FBI and other federal offices. A black backpack that was found on the steps of the building around 4:30 am was blown up by bomb squad agents outside the building at around 6:45am after an X-ray unit showed it contained a power source.

What Happened to Barry Minkow? [Grumpy Old Accountants]
Zebra. Stripes. Or is it a tiger?

Happy Flag Day! 14 States Exempt Flags from Their Sales Taxes [Tax Foundation]
FYI for next year.

Crooked accountant rips off £450,000 from Coatbridge firm in just four months [Daily Record]
Sue Sachdeva is not impressed.

Bob Lutz: I’m Not an Anti-Finance Guy [CFO Journal]
The former General Motors vice chairman has got a knack for numbers, and claims he even put a brake on unnecessary costs occasionally. But he’s got a beef with executives who focus solely on budgets and spreadsheets, instead of focusing on the product and on consumers. And he thinks that’s the biggest cause of Detroit’s downfall – and that Detroit is now back on the right track.

Pandora Prices Its I.P.O. at $16 a Share [DealBook]
Pandora Media on Tuesday priced its initial public offering at $16 a share, above its recently raised target range. The company, whose shares will start trading on the New York Stock Exchange on Wednesday under the ticker “P,” has raised $234.9 million, valuing the business at $2.6 billion.

Firms Squeezed on Tax Bills [WSJ]
During the financial crisis, hosts of small companies fell behind on their taxes for the first time, accountants and lawyers say. Their timing couldn’t have been worse.

Detroit bomb squad detonates suspicious package left outside IRS building [NYP]
Bomb squad officers in Detroit blew up a suspicious package early Wednesday outside a building that houses the Internal Revenue Service, the FBI and other federal offices. A black backpack that was found on the steps of the building around 4:30 am was blown up by bomb squad agents outside the building at around 6:45am after an X-ray unit showed it contained a power source.

What Happened to Barry Minkow? [Grumpy Old Accountants]
Zebra. Stripes. Or is it a tiger?

Happy Flag Day! 14 States Exempt Flags from Their Sales Taxes [Tax Foundation]
FYI for next year.

Crooked accountant rips off £450,000 from Coatbridge firm in just four months [Daily Record]
Sue Sachdeva is not impressed.

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