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Preliminary Analytics | 12.28.09

Thumbnail image for patsy_byrne.jpgA Modest List of Financial Analysis ‘Red Flags’ – “Patrick Byrne is the CEO” isn’t one of them but does get mentioned. [The Accounting Onion]
Tax Vox’s Lump of Coal Award: The Worst Tax Ideas of 2009 – California gets its very own spot at #4. [Tax Vox]
War on Wall Street as Congress Sees Returning to Glass-Steagall – Bank break up courtesy of Maverick? [Bloomberg]
How the VP of Finance at Koss steals millions – “For the year ended 6/30/09, Koss had sales of $38.2 million and profits of $2 million. For the year ended 6/30/08, Koss had sales of $50 million and profits of $4.5 million. If Sachdeva stole $20 million over the last four years, that’s $5 million per year…. and far exceeds the profits for the last couple of years. How did no one notice?” [The Fraud Files Blog]
New security restrictions could hurt airlines – As if they needed help. [Reuters]
Black Eyed Peas Didn’t File Tax Returns for Years – Due to ‘an inadvertent oversight’. [Web CPA]
Gee, Who WASN’T Bribed? – This involves one large process of elimination. [The Market Ticker]
We understand that the first day back after the Christmas break could be one of the worst on the entire year. Especially if you’re one of the few actually working. We’ll check in with you unfortunate souls later today.