Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: Picking Lehman’s Bones; IRS Picking on Dispensaries; Pick Up Some Will & Kate Condoms | 04.26.11

Fight for Lehman’s Remains Heats Up [WSJ]
A three-way battle over the remnants of Lehman Brothers Holdings Inc. is coming to a head, as the defunct investment bank’s estate fights with big-name hedge funds and Lehman’s former archrival Goldman Sachs Group Inc. over how to divvy up $61 billion in assets.

10 Things Your Coworkers Won’t Say [SmartMoney]
“Your good attitude makes me hate you,” and “You’re disgusting,” among others.

Oracle replaces CFO as Safra Catz gets the job again [Reuters]
Oracle Corp has replaced its chief financial officer less than three years after he joined the company, tapping its president Safra Catz to do the job. The company said on Monday that CFO Jeffrey Epstein resigned, but did not give a reason. Epstein, who joined Oracle in September 2008, could not immediately be reached for comment. Epstein had little visibility with investors. During quarterly earnings conference calls, it was Catz who read the company’s closely monitored profit forecasts and not Epstein. Epstein reported to Catz and not to Chief Executive Larry Ellison. “The CFO role at Oracle is different from the CFO role at other companies. It’s not as high profile,” said Jefferies & Co analyst Ross MacMillan.

IRS opens audit of Denver medical-marijuana dispensary [DP]
The Internal Revenue Service has opened an audit of a Denver medical-marijuana dispensary, the latest action in what one observer calls a “guerrilla campaign” by the federal government to push back against the cannabis industry. The audit is believed to be the first of its kind in Colorado and follows audits of numerous medical-marijuana dispensaries in California and other states.

Monday Map: State Income Tax Rates [Tax Foundation]
Oregon and Hawaii are your big winners at 11%.

Mergis Group Accounting & Finance Worker Confidence Index Slips Despite Increased Economic Optimism [Mergis Group]
The Accounting and Finance Employee Confidence Index, a measure of overall confidence among U.S. accounting and finance workers, dropped 4.0 points to 52.1 in the first quarter of 2011, according to a recent survey of 3,654 U.S. adults among which 156 are employed in Accounting and Finance commissioned by The Mergis Group®, the professional placement division of SFN Group, Inc. The survey, conducted online by Harris Interactive®, shows that although workers gained confidence in the strength of the economy more workers believe to be fewer jobs available.

Will and Kate Toilet Seats, Condoms Join Tacky London Souvenirs [Bloomberg]
The April 29 royal wedding has flooded London with trinkets, baubles, books and DVDs. The marriage could add as much as 620 million pounds ($1 billion) to the economy in tourism revenue and sales of food and drink, according to Verdict Research, a retail analysis unit of Datamonitor Plc.

Posted in ANR