America’s Nastiest CEO [The Big Money via Gary Weiss]
We’re still wondering if the KPMG Salt Lake City office knows what they got themselves into by taking Overstock.com on as a client.
Gary Weiss notes:
The Big Money this afternoon came out with a devastating (and gutsy) article by former Fortune writer Roddy Boyd on the corporate crime petri dish that is Overstock.com, and its nuts CEO Patrick Byrne. The title is “America’s Nastiest CEO,” and it describes how Byrne has systematically harassed and attacked critics to cover up his own incompetence and wrongdoing–stuff that actually is a lot worse than has previously been acknowledged.
Calling all Manchester United fans [AccMan]
Dennis Howlett — never shy with his opinion — segues into an argument for blogging after noting that the Manchester United don’t need to:
There is a blog post over on Social Media Today that demonstrates as well as just about anything I’ve seen written why you should almost never listen to folk who call themselves ‘social media experts/gurus/consultants.’ Awarding itself the grand title: World’s Most Valuable Soccer Team Doesn’t Get Social Media the author proceeds to show almost zero understanding of The Beautiful Game or the people who are part of that world.
After blowing up one person’s argument for social media, DH turns the tables back to why it’s a good idea:
I have for the longest time said that professionals should write blogs. Many seem bemused by the question: we’re too busy, what would we say? we don’t want to blatantly promote, we’re not sure clients would care…the list goes on. Many talk about networking and the need for face to face meetings in order to make the kind of marketing impression they believe will win business.
In case you still think that the traditional networking is still more your speed, DH continues:
Unlike football fans, clients don’t congregate in large numbers every Saturday afternoon although they may do so in smaller numbers in industry specific associations from time to time. And of course you should be making an effort to attend those kinds of event. But in the meantime and if you are serious about running a business as opposed to a practice, then surely it makes sense to stand alongside your clients?
Have you run out of excuses for your firm having a blog?
Don’t Give Special Tax Breaks for Haiti Relief [Tax Vox]
Before everyone gets excited about the possibility of your contributions to the Red Cross, Doctors without Borders, et al. being deductible for 2009, don’t forget that many of you won’t benefit from a tax standpoint:
The proposal won’t help the two-thirds of taxpayers who take the standard deduction since it only accelerates itemized deductions. Even among itemizers, those millions of givers who are contributing $10 by text message are not going to care much about whether they can write off those few dollars this year or next.
Those who might benefit–relatively high-earning itemizers who give substantial gifts–can easily address this cash flow problem under current law. All they’d need to do is change their withholding or estimated tax payments to reflect any unusually large gifts to Haiti relief.
And not only that, what about other charities that are not subject to the timing change? Don’t they still need money?
Btw, a 2008 paper by Jon Bakija and Bradley Heim finds that higher-income taxpayers are more likely to adjust their giving to reflect changes in their after-tax cost–another reason they’d be the biggest beneficiaries of this bill. But even for them, this small temporary timing change is not likely to matter very much.
Still, some people would change their behavior, and that troubles me. Will they reduce gifts to other worthy causes in favor of newly tax-favored Haiti-related charities? Many organizations are already struggling with major recession-driven reductions in contributions and this would hurt even more.
Haiti still needs everyone’s help, no question but don’t be shocked if Congress’ latest attempt at helping out doesn’t turn out to be that helpful.