•In New York City, Fewer Murders on Rainy Days – It’s got to have something to do with those ubiquitous black $3 umbrellas. They’re like security blankets. [New York Times]
•U.S. marshals begin seizure of Madoff property in NY – Quaint penthouse, UES for those cool with living with the ghosts of charities and elderly Jews [Reuters]
•Arnie’s IOUs will pay 3.75 per cent – Ken Lewis will be making his counter-offer shortly [FT Alphaville]
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Review Comments | 10.21.09
- Caleb Newquist
- October 22, 2009
• Galleon to Begin Wind-Down of Funds – At least one person is optimistic. [DealBook]
• Tax (Return) Stories: F. Scott Fitzgerald – Apparently FSF was not so spendy. [TaxProf Blog]
• Pay Czar to Slash Compensation at Seven Firms – “Kenneth Feinberg, the Treasury Department’s special master for compensation, will lower total compensation for 175 employees by an average of 50%, these people said. As expected, the biggest cut will be to salaries, which will drop 90% on average.” Special master? [WSJ]
• The Top Five Twitter Feeds for Job Hunters in Accounting – Use it. And follow us while you’re at it. [FINS]
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Review Comments | 12.02.09
- Caleb Newquist
- December 3, 2009
• Internal auditor faces charges in Satyam scandal – India’s Central Bureau of Investigation (CBI) also claims that have more evidence against PwC. [Accountancy Age]
• Does Sarbox Reduce Restatements? – One study suggests just that, “The study, from research firm Audit Analytics, suggests that companies that have not yet had their auditors review their internal-control reports are more likely to have a restatement than larger companies, even though they claimed to have effective controls.” [CFO]
• Stanford Offshore Investors Suspected of Cheating IRS – We realize this is hard to believe. [Bloomberg]
• Bank of America to Repay $45 Billion in TARP – Drinks are on Ken Lewis. [WSJ]
• SEC Obtains Asset Freeze Against Co-Founder of Canopy Financial in $75 Million Offering Fraud – Not to mention the stolen letterhead: “According to the SEC’s complaint, the fraud came to light when KPMG discovered that Canopy had been claiming that its financial statements for 2007 and 2008 were audited by KPMG. In fact, KPMG had never been retained by Canopy to audit its financial statements and had never opined on the financial condition of the company. KPMG issued a cease-and-desist letter to Canopy demanding that it stop the unauthorized use of KPMG’s name and the audit report purportedly issued by KPMG.” [SEC Press Release]
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Review Comments | 10.08.09
- Caleb Newquist
- October 9, 2009
• LandAmerica: The final days appeared like a Ponzi scheme – Adrienne’s opus on LandAmerica’s shiesty last days. [The Mortgage Lender Implode-o-Meter]
• Ethics Committee Expands Rangel Investigation – You might have a rent-controlled apartment if it wasn’t for this guy hoarding them all. [NYT]
• Obama Has Lunch With Bezos, Business Leaders – C’mon Bam, no JT? [WSJ]
• IFRS Returns to the Front Burner – Tweedie says they’re working hard, working weekends and ordering in to get this done. [CFO]