• Washington: First in War, Peace — and Accounting – Father of the Country apparently knew his debits and credits. He even documented his gambling losses to keep the those filthy bookies off his back. [Washington Post]
• Chicago Cubs file Ch. 11 bankruptcy – Just to move things along. [Chicago Tribune]
• National Association of Business Economists: ‘Great recession is over’ – How many times is this thing going to get called? [Denver Business Journal]
• Wesley gets ‘Sniped’ – Tax problems simply aren’t enough. Let’s throw some Ponzi related victimization. It may be time to seriously consider White Men Can’t Jump 2. [NYP]
• SEC Adds to KB Home’s Troubles – “In a quarterly filing Friday with the Securities and Exchange Commission, KB said the SEC staff has issued a ‘formal order of investigation…regarding possible accounting and disclosure issues.'” – Never good. [WSJ]
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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 | 11.05.09
• 88% of senior financial executives believe positions of CEO and chairman of the board should be separate – The latest from the press release elves. [GT Press Release]
• California Dreaming in Congress – “California just jacked up its withholding rates to force people to overpay their taxes, because the State decided it needs the money more than the subjects do. Most people find this sleazy and outrageous, which means Congress finds it inspirational.” [Tax Update Blog]
• IAASB Alerts Auditors to Get Skeptical on Confirmations – Don’t worry, the PCAOB is on the case too. [Compliance Week]
• PwC off the hook over Satyam? Not so fast! – Dennis Howlett has questions about yesterday’s Satyam ruling. [AccMan]
• House Extends Jobless Benefits and Home Credits – Passed by 391 votes. Next stop: BO’s desk. [NYT]
Review Comments | 10.06.09
• Are Most CEOs ‘Wusses’? – Discuss your favorite. [WSJ]
• Panzner on Goldman Sachs’ “Smart” Money – Thanks to the folks over Goldman Sachs 666 for the plug on AG’s two-part interview of Michael Panzner [Goldman Sachs 666]
• Coke in US family doctors alliance – Since it’s the soft drink they’re talking about it’s even weirder. [FT]
• FASB Gets Practical on a Fair Value Problem – “FASB’s Accounting Standards Update 2009-12 amends ASC 820-10 Fair Value Measurements and Disclosures to clear up uncertainty about how to measure fair value of investments in certain entities that calculate net asset value per share. The guidance is intended to shore up diversity in how investors estimate the fair value of alternative investments such as hedge funds, private equity and venture capital funds, real estate funds, offshore fund vehicles, and funds of funds.” [Compliance Week]