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November 24, 2022

Footnotes: First Let Me Take Another #SelfEY; Bitcoin Bowl; When Auditors Don’t Audit | 06.19.14

Suit Is Dismissed Against Auditor of Chinese Coal Company In 2010, Puda Coal, a Chinese company traded on the New York Stock Exchange, raised $116 million from American investors in two public offerings. It presented audited financial statements showing that at the end of 2009 it had assets of $111 million and a net worth of $84 million. That was a lie. The managers of the company had transferred all the assets to themselves in 2009, and reported the transaction to the Chinese government. But the auditor, Moore Stephens, a Hong Kong firm, failed to notice that public filing and certified the company’s financial statements for both 2009 and 2010. [DealBook]

The Bitcoin Bowl is a real NCAA game [FC]

These "easy" life hacks include a trick to getting over your fear of taking a dump in public (hint: pretend you're invisible) [HuffPo]

Still on that, then? [Twitter]

GE Capital Bank to pay $169 million for discrimination against Hispanics The bank ran two programs from 2009 to 2012 that helped cardholders with low credit scores and high balances catch up on their payments. During that time, prosecutors say, the bank sent out offers to 400,000 people, but did not inform 108,000 cardholders with mailing addresses in Puerto Rico or whose accounts indicated a preference for communications in Spanish. [WaPo]

Boss of Orange County Company's Accounting Department Caught Embezzling Ur job, ur doin it wrong [OC Weekly]

Is a carbon tax the solution to all our tax woes? [BBW]

The EY building at 5 Times Square is "the biggest of an entire building in New York since Google Inc.’s purchase of 111 Eighth Ave. in 2010" [BB]

The argument against "Do What You Love" and another mindset to try instead Finally, a Millennial gets real: "Miya Tokumitsu has critiqued Do What You Love (DWYL), the “unofficial work mantra of our time,” as elitist and untenable, “a worldview that disguises its elitism as noble self-betterment” and 'distracts us from the working conditions of others while validating our own choices.'"[HBR]

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