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Footnotes: Twitter Gets Unfollowed By Investors; Don’t Sweat Your Refund; A Great, Lazy Fraud | 02.05.14

Posted on by Adrienne Gonzalez

What small business owners should know about the new Obamacare report [Washington Post]

Twitter's first revenue announcement since going public in November was great, but shares tanked due to unexpectedly low user growth. Seems legit [USA Today]

Should farmers embrace accrual accounting? [AG Web]

Guys, don't worry, concerns over hitting the debt ceiling won't affect the promptness with which the IRS returns the money they borrowed from you all year at 0% interest [On the Money via The Hill]

Philadelphia Fed's Chuck Plosser thinks we should maybe taper a little faster, y'all [Reuters]

Boehner urges allies to consider linking military benefits to debt limit [Post Politics via Washington Post]

The SEC thinks some guys didn't trade enough "I don't really get it, but as far as I can tell, these guys (allegedly!) committed securities fraud out of laziness. HIGHLY ENDORSED." [Matt Levine via Bloomberg View]

The Target data breach (may or may not) get real [CBS]

Coca-Cola takes $1.25 billion stake in Green Mountain Green Mountain Coffee Roasters Inc, maker of the popular Keurig single-cup coffee brewer, said on Wednesday that the Coca-Cola Co (KO.N) bought a 10 percent stake in it for $1.25 billion and would help launch Green Mountain's new cold drink machine planned for next year. Shares in Green Mountain (GMCR.O) soared 39.7 percent to $113.01 in extended trading, while those of its likely new rival, SodaStream International Ltd (SODA.O), tumbled almost 10 percent to $32.01. [Reuters]

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Job of the Day: Bank of America Needs a CFO But Not Just Anyone Because This Is a Pretty Major Gig

Brian Moynihan is shopping around for a CFO and he needs a good one ASAP. The Post reports that Moynihan will go with someone from outside BofA so that means you’ve got a shot! Now before you get ahead of yourself and think you’re the BSD to turn this ship around, consider some of your responsibilities.

You’ve got to be the numbers jockey for the biggest bank in the known universe that is constantly being given the stink-eye by Tim Geithner, Barack Obama, Ken Feinberg, et al., plus an angry American populous that will not hesitate to call you names and picket your house. Oh, and you may or may not have to move to Charlotte. Maybe that’s not a sticking point for some of you but if you don’t like NASCAR then we’d suggest passing on this one.


See? Trying to come up with a good and willing candidate will not be an easy task. After all, getting someone to takeKen Lewis’ chair wasn’t exactly a piece of cake and CFO is actually a real job.

Naturally, soon-to-be former KPMG Chairman Tim Flynn comes to mind but Moynihan may want to go with some with a little less sweater vesty and he doesn’t really have the mane to match. Former Lehman CFO Erin Callan is busy hanging out with firefighters and Andy Fastow is still unavailable. Better put a call in to Robert Half.

Serious search party [NYP]
Earlier:
Ex-Bank of America CFO Is in Cuomo’s Crosshairs

Preliminary Analytics | 09.01.09

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• BofA Seeks to Repay a Portion of Bailout – “Repaying this would mean BofA would no longer be considered an ‘exceptional’ aid recipient — a designation that has put it under a microscope by Congress and regulators, with its pay packages subject to review by the federal ‘pay czar'”. Ken Lewis isn’t going to take it anymore. [WSJ]
• Madoff Liquidator May ‘Claw Back’ Charities’ Fake Profits – ‘Picard has an obligation to the bankruptcy estate to collect all the assets he can find and in theory he has to treat everyone the same way.’ Most thankless job ever. [Bloomberg]
• Warning Signs: I Started Looking And The Bubble Burst… – Deloitte. Start listening. [RTA]
• Icahn Pares Yahoo Stake With Sale of 12.7M Shares – Deal is done. Might as well work on GTFO. [NYT]
• Corporate failures forecast to rise – “Insolvency specialists are forecasting a second wave of corporate restructurings to break in September as bankers and investors face problem investments.” [FT]
• IRS to Mine Payment Data on Mortgages – “The Treasury inspector general said in a Monday report that tens of thousands of homeowners who paid more than $20,000 in mortgage interest in 2005 either didn’t file a tax return or reported income that appears insufficient to cover their mortgage interest and basic living expenses.” GASP. Someone living beyond their means? [WSJ]

It’s Only a Matter of Time Before Big 4 Firms Offer Legal Services in the US

One of the topics that we occasionally discuss around here is the Big 4 expanding […]