Romney Ekes Past Santorum to Win Iowa [WSJ]
Mitt Romney pulled out a razor-thin victory by just eight votes in the Iowa caucuses, edging out Rick Santorum and opening the Republican primary season with a dose of momentum going into a New Hampshire primary he is heavily favored to win. Mr. Santorum's performance was in some ways more remarkable, as the former Pennsylvania senator vaulted to the top just weeks after he had been little more than a footnote in the race. By effectively tying Mr. Romney, he made at least a tentative case for himself as the conservative alternative to the front-running former Massachusetts governor. Still, many Republicans don't believe Mr. Santorum has the resources for a drawn-out campaign.
MF Global’s U.K. Staff May Not Receive Bonuses Pledged Before Bankruptcy [Bloomberg]
MF Global Holdings Ltd. (MF)’s U.K. employees owed bonuses by the failed broker were placed behind most other creditors in the bankruptcy process and may never receive their money. KPMG LLP, the administrator of MF Global’s U.K. unit, said cash bonuses would be treated as unsecured claims, near the bottom of the creditor pile. Unvested share awards and stock options for the unit’s 700 employees, valued at about $62 million for the year ending in March 2011, are virtually worthless with the stock trading at less than 8 cents yesterday. “It’s most unlikely they will get anything that’s deferred such as share options, stock units or other incentives,” said Jo Keddie, an employment lawyer at law firm Winckworth Sherwood. “The directors and everybody else will suffer significant losses since administrators have very little discretion as to wages, let alone contractual bonuses and other hard-earned incentives.”
Dutch Firm’s Finance Officer Quits After Reorganization [NYT]
A business executive who became the first woman to be appointed chief financial officer of a large Dutch company resigned on Tuesday, citing a dispute over a management reorganization at her employer, the phone operator KPN. Carla Smits-Nusteling, KPN’s chief financial officer, resigned a little more than two years after being appointed, saying she disagreed with a decision to quadruple the top management board to 12 members from three, the company said.
Darryl Strawberry Ex-Wife Loses $800,000 Dogfight Over Darryl's Mets Money [TMZ]
I know what you're thinking: How did this money not get spent on cocaine?
Darryl Strawberry and Run-DMC in the same roundup?
2011 Tax Person of the Year: Grover Norquist [TaxProf]
Honestly, who else?