Now Tom Daschle joins Tim Geithner in not paying taxes, even more so. Daschle had to pay over $100 K in back taxes to get even, Tim was on the hook for $43,00. As someone who has represented several clients before the IRS, do not try this on your own thinking you will get the same…

US Airways has offered a First Class upgrade when available to fly free for the next year to those passengers on the now famous Hudson River Landing. Gee, already some are running for attorneys saying they fear getting on a plane, others say it is just not enough.  Gee what exactly did the Cunard Line did for those folks on the Titanic? …

The UAW created jobs for life whether there was any work or not.  This was the Job Bank in which workers got paid for well not working.  This led to GM manufacturing Buicks sold to car rental companies as the CEO figured he might as well have the workers doing something.  This has cheapened the former…

A H Belo, parent of the Dallas Morning News, is laying off another 500 people.It is borrowing money to stay in business and fund the layoffs. This has resulted in a restriction on dividends it can pay otherwise known as a loan covenant. Gannet has written down its goodwill account, why, what do you know…

Yesterday I suggested that you should be scanning business, cpa, and cfo.com websites to discern developing trends. Here is a good example.  This is a CFO article highlighting a report by the PCAOB. In the report the PCAOB explains how an alert CFO can reduce audit fees for by maintaining for example efficient bank reconciliation.…

Here is a blog post noting events in Japan.  As he says in perspective a cut back in employees here will be minor for Toyota. But stop and think, if one had predicted disaster for the toyota plant here just two years ago, one would have been hooted out of town. But that is what…

John Stossel cuts thru a lot of clutter on 20/20. In this article he skewers the idea that any college degree is worth a lot of money to the graduate, clearly this is simply not true. When I was teaching at UNT Dallas we interviewed multiple counselors with masters degree who were only making $30,000 a…

It is 7:18 AM and I just heard an excellent discussion on mark to market accounting rules between Becky QUick  and Steve Forbes on CNBC.  I mentioned arranging your life for success a couple of posts back, and this is what I am describing.  You are not going to LEARN accounting but just putting your toe…

REmittances sent to Mexico have been much larger than the Mexican government anticipated. Indeed there are more stories of fewer coming to America. As the construction industry evaporates in Nevada AZ, CA, and folks decide to mow their own lawns such traditional migrant jobs are disappearing. It could well be that we are seeing a…

First the market tanks, then the reality of its predictions hit. Layoffs are on the increase suggesting that real estate and autos are going to permanent new lower levels. Let us hope that is the case.  The Statler Brothers song The Class of 1957 noted that one grad sold insurance and part time real estate. that…