Mitt Romney: 'Nothing hidden' in taxes [USAT]
Mitt Romney insists there is "nothing hidden" in his taxes, rebuffing increasing calls from President Obama and other Democrats to release more information about his income and bank accounts. In an interview with O. Kay Henderson of Radio Iowa, Romney said his finances are above-board and held in a blind trust managed by a trustee. "I don't manage them. I don't even know where they are," Romney said in the radio interview taped yesterday. "That trustee follows all U.S. laws. All the taxes are paid, as appropriate. All of them have been reported to the government. There's nothing hidden there."
IRS locks down after finding suspicious white powder [ET]
ANDOVER — The mail processing room at the Internal Revenue Service building on Lowell Street was placed in lock down yesterday morning after a white powdery substance was reported being released from an envelope. A hazardous materials team was requested to respond to the building at 310 Lowell St. shortly after 10:30 a.m. The 30 employees working the processing room at the time were placed in isolation, according to a press release from the fire department.
“Fortress Balance Sheets” Grow Stronger: Survey [CFO]
While the outlook for corporate earnings may be sketchy, financial professionals are decidedly more confident about their ability to boost cash flow in the next 12 months. But they’re not so confident that they are willing to tap their "fortress balance sheets" — assets aimed at withstanding severe financial shocks — or risk investing their cash in higher-yielding investment vehicles. The 2012 edition of the Association for Financial Professionals’ Liquidity Survey, released Tuesday, found that U.S. companies’ desire for safety and liquidity, at least by the measure of the cash cushions they keep, is not going away. In fact, in some ways companies are keeping an even tighter rein on the cash their businesses generate. Companies continue to amass piles of cash, according to the AFP poll. Forty-one percent of the 391 respondents to AFP’s survey, conducted in May, said their companies held larger cash balances during the first quarter of 2012 than a year earlier.
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