~ Good morning capital market servants. I’ll be traveling this morning to an undisclosed location, so posting my be on the lighter side until later this afternoon. That should give you plenty of time to either A) determine my whereabouts or B) dig up some dirt and send it to us. If you manage to sniff out my trail correctly, your reward will be a hot date with either Adrienne or DWB, depending on your preference.

Former Citigroup Accountant Accused of Embezzling $19.2 Million [NYT]
Gary Foster toiled away as a midlevel accountant in Citigroup’s Long Island City back office, collect0 paycheck last year. But federal prosecutors claim Mr. Foster gave himself a bonus fit for a star investment banker by embezzling more than $19.2 million from Citi before its auditors picked up on the scheme.

Siemens CFO Says Tailwind From Recovery Is Likely Over [WSJ]
“The tailwind from the economic recovery is likely over. Now, increased efforts are required for continued growth,” Siemens Chief Financial Officer Joe Kaeser told analysts at an event in Shanghai. Kaeser has already said several times that growth will slow in the second half of the current fiscal year 2011, which ends in September, as the comparison base gets tougher.

Lululemon eyes $1 billion in revenue [Reuters]
While Lululemon’s sales have soared along with its share price, investors have been concerned that competition might start to slow its ascent. “We’re not feeling it or seeing it on a global basis or even store by store,” Chief Financial Officer John Currie told the Reuters Global Consumer and Retail Summit on Monday, when the stock hit an all-time high. “But you know, it’s a competitive marketplace. So, the next competitor … we have to worry about them just like we do about Nike and Adidas.”

Fed policymaker: Mortgage-interest deduction can be bad incentive [The Hill]
Narayana Kocherlakota, the president of the Federal Reserve Bank of Minneapolis, said in a speech in Big Sky, Mont., that the tax code now provides both taxpayers and financial institutions incentives to carry at times excessive debt. Kocherlakota, currently a member of the policy-making Federal Open Market Committee, specifically singled out the mortgage-interest deduction and a policy that allows banks to deduct interest payments on debt.

Los Angeles Dodgers File For Chapter 11 Bankruptcy, Seek Television Deal [Bloomberg]
The Los Angeles Dodgers filed for bankruptcy protection after Major League Baseball rejected a television deal with News Corp. (NWS)’s Fox Sports, leaving team owner Frank McCourt unable to make payroll this week. Major League Baseball Commissioner Bud Selig last week said the 17-year TV-rights deal, which McCourt valued at about $3 billion, would harm the franchise in the long term. Baseball took over the Dodgers’ business operations about two months ago.

Negotiators Wrangle on Taxes [WSJ]
With time running short to reach a deal to avoid a government default, President Barack Obama met privately Monday with Senate leaders in hopes of resolving an impasse over whether to include tax increases in a deficit-reduction agreement. The White House argued that the deficit can’t be significantly cut without eliminating tax breaks for certain wealthy individuals and companies, while Republicans said doing so would cripple the economy.

Audit Comittees Dig Into Compensation [CFOJ]
A new rule requiring companies to disclose whether their compensation structures could lead to excessive risk-taking has so far failed to result in significant new disclosures. However, the rule has forced audit committee board members to work more closely with their compensation committee counterparts and may result in more members serving on both in the future.

Companies Are Erecting In-House Social Networks [NYT]
As social networks increasingly dominate communications in private lives, businesses of all sizes — from tiny start-ups to midsize companies like Nikon to behemoths like Dell — are adopting them for the workplace. Although it is difficult to quantify how many companies use internal social networks, a number of corporate software companies have sensed the opportunity and offer various systems, some free to existing customers, others that charge a fee per user.

Pelosi Says U.S. Debt-Ceiling Deal Must Reduce Tax Subsidies for Companies [Bloomberg]
Democratic President Barack Obama and Republican House Speaker John Boehner will need the support of Democrats to get an agreement through the House, Pelosi said yesterday in an interview on CNN’s “State of the Union.” Such an agreement would have to include both spending cuts and an end to tax breaks for some industries such as oil, she said. “You can’t cut your way out of the deficit,” California Democrat Pelosi said. “You have to have revenue on the table.”

What the CFOs Want [WSJ]
CFOs at big companies are no longer content to manage just finances or operations. They want, and say they need, a prime seat at the table when setting strategy. So said the roughly 60 big-company finance chiefs at The Wall Street Journal’s inaugural CFO Network annual meeting last week. Many of these CFOs already count strategic planning among their responsibilities, a shift from the past, and one that primes them to possibly take the chief executive spot some day.

Chipotle Will Raise its Prices Regionally [WSJ]
We need a Poncho No. 8 over here.

Did Green Mountain Coffee Roasters Violate Its Code of Ethics, too? [White Collar Fraud]
This is starting to get awkward.

Must the Amish e-File? [TaxProf]
The horror!

Senate’s Snowe offers bill to repeal tanning tax [The Hill]
A bill, sponsored by Sen. Olympia Snowe (R-Maine) and co-sponsored by Sens. John Barrasso (R-Wyo.), Roy Blunt (R-Mo.), John Boozman (R-Ark.), John Cornyn (R-Texas) and Pat Roberts (R-Kansas) was introduced on Thursday in the Senate, mirroring an effort in the House to eliminate the 10 percent tax on certain tanning services. Support for the House measure has grown since June 2 when Rep. Michael Grimm (N.Y.) introduced the bill. His legislation now has 29 Republican co-sponsors backing the effort.

Tax activists want U2’s Bono to ‘pay up’ [DMWT]
Reports of actual mud-slinging have not been confirmed.

‘Angry Birds’ Staying Power Tested With CEO Hatching Movie [Bloomberg]
And now, some important news.