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Footnotes: Mistakes Were Made | 07.25.12

Senate Passes Tax Measure With Election in Mind [NYT]

Jumping to conclusions, Malcom Gladwell edition [Felix Salmon]

Will Accounting Charges Spoil Facebook’s Earnings Debut? The company will incur a massive charge as it lifts restrictions on employee stock in conjunction with its second-quarter IPO. The company has warned that those could result in nearly a billion dollars in added expenses — a sum nearly equivalent to the $1.15 billion in revenue the company is expected to report in Q2, according to analysts polled by Thomson Reuters. [CNBC]

Two Blows Against Accounting Convergence [CFO]
Tempers flare on House floor over GOP typo [The Hill]
CFA Police: “The Candidate Was Moving His Hat And Hands Around Using What Appeared To Be Signals” [DB]

Glendale man arrested after allegedly stealing and reselling office supplies Jose Antonio Sanchez, 36, was arrested Tuesday by Internal Revenue Service and U.S. postal inspectors. He was arraigned before U.S. District Judge Stephen J. Hillman on 20 counts of defrauding money and property from Acco Engineered Systems. While working for the Glendale-based company, Sanchez allegedly ordered the Xerox supplies, had them delivered elsewhere, then sold them, pocketing $159,000, according to a criminal indictment. [CCT]