• GMAC sees $5 billion Q4 loss after latest bailout – Nice work guys. [Reuters]
• Deloitte Wins Major Round Re: Alleged Inside Trader Flanagan – “This litigation has forced them to reveal their woefully inadequate policies and procedures regarding independence compliance.” [Re: The Auditors]
• CPA Poll: Are You Securities Licensed? – TPTB have not been appeased. Vote before we’re held against our will. [GC]
• Is Preventing Tax Evasion The Same As Raising Taxes? – Yes? [The Atlantic]
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Review Comments | 07.22.09
• Amazon to Acquire Zappos.com for $847 Million – “Amazon says it is paying for the acquisition with 10 million shares of stock worth approximately $807 million. In addition, Amazon said it will provide Zappos employees with $40 million in cash and restricted stock units.” [Bits/NYT]
• UK ‘is losing 52 pubs each week’ – Where will the UK accountants go for lunch? [BBC]
• Who needs audit? [Accountancy Age]
• Chrysler says dealer legislation could force liquidation – “Chrysler Group could again face the prospect of liquidation if legislation aimed at reversing its decision to terminate contracts with 789 dealers becomes law, a company executive said on Wednesday.” [Reuters]
• Goldman Sachs Payments to U.S. Give 23% Return to Taxpayers – LB says “you’re welcome” [Bloomberg]
Review Comments | 08.11.09
• Bankruptcy Filing Near for Taylor Bean – “The motion, submitted in the U.S. District Court for the Northern District of West Virginia, was filed on Aug. 6, one day after the privately owned Ocala, Fla., company ceased its lending operation and dismissed most of its work force.” No surprise, but that sucks guys. Try to keep truckin. [WSJ]
• Benmosche Said to Start AIG Tenure With Croatian Trip “plans to spend part of his first month leading the insurer in Croatia on vacation, according to two people familiar with the situation.” The guy’s got stones, that’s for sure. [Bloomberg]
• IRS Impostors Burglarize House “The IRS impersonators made off with a weed trimmer, chain saw, jewelry and a utility trailer.” [Web CPA via TaxProf Blog]
• The Sweet Sixteen: A List of Audits I Need in my Life [Accounting Nation]
Review Comments | 11.02.09
• Ernst & Young acquires tech-consulting firm – “Capital City Technologies will become part of the government and public-sector group of Ernst & Young’s Advisory Practice.” [Washington Technology]
• Kroeker: Keep Converging With or Without Roadmap – Basically what the Chief Accountant is saying is, “Don’t wait up for us. Whatever you decide is fine, unless we don’t like it and then we reserve the right to torpedo it back to the Stone Age.” [Web CPA]
• What Are We – Laborers, Factories, or Spare Parts? The Tax Treatment of Transfers of Human Body Materials – “Of particular significance in this debate is whether human bodies can only provide services, or if their materials can constitute property of the person from whose body they come: whether the human body is exclusively a laborer, or if it can also be a factory or a collection of spare parts.” [Lisa Milot, University of Georgia Law via TaxProf Blog]
• A Growing Divide – Regarding personal debt per person to GDP per person: “[S]imple graphs that tell a powerful story.” [Financial Armageddon]
• Allen Stanford Is A ‘Sir’ No More – And you think life is unfair? [DB]
• IRS Claims 2 Out of 3 Taxpayers Now E-File – But as, TG points out, less returns. Nice try, IRS. [Tax Girl]