Monthly Archive: May 2011

May 31

IRS is paying tens of billions of fraudulent refundable tax credits

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On May 25, 2011, J. Russell George, the Treasury Inspector General for Tax Administration (TIGTA) testified before the House Ways And Means Subcommittee on Oversight. In comments entitled “Improper Payments in the Administration of Refundable Tax Credits”, George described significant fraud that the IRS is allowing to occur, supposedly because it does not have the …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/irs-is-paying-tens-of-billions-of-fraudulent-refundable-tax-credits/

May 30

Credit Agency practices deserve reform

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On May 18, the Securities and Exchange Commission voted unanimously to propose rules that (i) implement certain Dodd-Frank provisions and (ii) enhance the SEC’s existing rules governing credit ratings and Nationally Recognized Statistical Rating Organizations (NRSROs).  The NRSROs are dominated by Moodys, Standard & Poors, and Fitch. In proposing the new rules. SEC Chairperson Mary …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/credit-agency-practices-deserve-reform/

May 27

Sox whistleblower protections again interpreted narrowly

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The Ninth Circuit took a narrow reading of the whistleblower protections provided under Sarbanes-Oxley, and thereby eliminated the applicability of any whistleblower protection.  The would-be whistleblowers were two internal auditors at Boeing.  Both employees spoke to a newspaper reporter regarding their concerns.  The reporter included the employees’ information in an article entitled “Computer security faults …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/sox-whistleblower-protections-again-interpreted-narrowly/

May 26

Man Eats 25,000th Big Mac!

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Don Gorske, a retired prison guard, ate his 25,000th Big Mac on Tuesday May 17, 2011.  A Big Mac, sold at McDonald’s restaurants, is a burger with two all-beef patties, special sauce, lettuce, cheese, pickles, onions on a sesame seed bun.  Gorske, 59 years old, began eating Big Mac’s on May 17, 1972.  The Guinness World …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/man-eats-25000th-big-mac/

May 25

Bailout for US Postal Service? Check is in the mail.

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The U.S. Postal Service is losing money, and this comes as a surprise to no one. Postal Service deliveries maxed out in 2006. Since that time, mail volume has declined about 20%. Now the Postal Service faces cash shortfalls of $1.5 billion and $5.5 billion when contributions on promised retiree health benefits and workers compensation …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/bailout-for-us-postal-service-check-is-in-the-mail/

May 24

Social Security & Medicare Remain a Mess

Each year, the trustees of the Social Security Administration prepare a report on its programs. The 2011 report was released last week. The summary report starts out: The financial conditions of the Social Security and Medicare programs remain challenging. Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/social-security-medicare-remain-a-mess-2/

May 24

Social Security & Medicare Remain a Mess

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Each year, the trustees of the Social Security Administration prepare a report on its programs. The 2011 report was released last week. The summary report starts out: The financial conditions of the Social Security and Medicare programs remain challenging. Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/social-security-medicare-remain-a-mess/

May 23

The Mac Virus Myth is Burst

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It has been a longstanding part of the mythology of Apple computers: They ‘just don’t get viruses’. It has even been a big part of their advertising. Of course for those in the field of computer security, it was well known that there really wasn’t anything magically immune in Apple systems, particularly in comparison to …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/the-mac-virus-myth-is-burst/

May 22

How Many Clowns Can You Fit In A Clown Car?

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I am sure everyone has seen this before – a lot of clowns coming out of a really small car.  It is the oldest and most requested clown gag ever.  However, there is no trick to the clown-car gag.  Contrary to most people’s speculation, there are no trap doors in stadium floors, and the cars …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/how-many-clowns-can-you-fit-in-a-clown-car/

May 20

Strange Law: The Foxconn Contract

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If you do not recognize the name Foxconn, it is a huge electronics manufacturing company.  They make electronics for a broad variety of worldwide companies.  Most of their production is in China.  Examples of their plants are: Shenzhen, a huge walled compound also known as ‘Foxconn City’, employs an estimated half million people manufacturing a range …

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Permanent link to this article: http://betweenthenumbers.net/2011/05/strange-law-the-foxconn-contract/

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