June 2012 archive

Preliminary Injunction Stops U.S. Sales of Samsung Galaxy Tab 10.1

Apple’s request for a preliminary injunction stopping U.S. sales of Samsung’s Galaxy Tab 10.1 was granted this week by U.S. District Judge Lucy Koh.  Apple asserts that this Samsung product infringes on Apple patents ( a claim Apple has similarly made regarding other Samsung products). In order to effectuate the injunction, Apple will have to …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/preliminary-injunction-stops-u-s-sales-of-samsung-galaxy-tab-10-1/

Private Company Accounting May Become Simpler.

On May 23, the Financial Accounting Foundation (FAF) Board of Trustees established a new body to improve the process of setting accounting standards for private companies. The need for such a group has been debated for decades. The new group, the Private Company Council (PCC), will determine whether exceptions or modifications to existing nongovernmental U.S. …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/private-company-accounting-may-become-simpler/

Strange Headline: Bankers Ask to be Taxed

A gold-metal group of current and former financial executives has signed an open letter to the G20 conference asking that the countries impose a small tax on all financial transactions. It isn’t that they have suddenly decided that they like taxes, but they see a greater enemy in volatility caused by high frequency trading.  A …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/strange-headline-bankers-ask-to-be-taxed/

The Perfect Laptops For Those Who Do Not Care About Money, And Those That Do.

At a huge and splashy keynote address at their Worldwide Developer’s Conference, Apple announced a full refresh of their laptop computers using the new Intel Ivy Bridge processor. Up until that time Apple’s competitors had only included the new ‘3rd Generation Core’ chips on a couple of premium systems. The new models were sleek, speedy, …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/the-perfect-laptops-for-those-who-do-not-care-about-money-and-those-that-do/

Funds donated to well known charities are mostly going towards further marketing

Recent allegations that funds intended for veterans and mistreated animals is actually mainly dedicated to further marketing efforts (and lining the pockets of one marketing company in particular) are causing anger among many donors. SPCA International raised $27 million dollars, but CNN.com reports that it spent nearly the same amount on direct mail services purchased …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/funds-donated-to-well-known-charities-are-mostly-going-towards-further-marketing/

Investment fraud and financial exploitation of seniors is an epidemic

Results of a study entitled “Elder Investment Fraud and Financial Exploitation Survey” were released on June 13, 2012. 762 responses from primarily state securities regulators, adult protective services workers, social workers, medical professionals, and financial planners provided an unequivocal message that the elderly are being taken advantage of to an alarming degree. The results include: …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/investment-fraud-and-financial-exploitation-of-seniors-is-an-epidemic/

Why are the Fed’s net worth statistics so different?

There is still much talk in the media about the Federal Reserve’s recent statistics published in its Survey of Consumer Finances (SCF), namely that household median net worth fell by almost 40% from 2007 to 2010 and the mean fell almost 15%.  (See a recent blog post here that provides seemingly similar Fed data exhibiting …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/why-are-the-feds-net-worth-statistics-so-different/

Big Players in the gTLD Applications

The application period is over and now ICANN has published the nearly 2000 applications for new Global Top Level Domans (gTLD). For those unfamiliar with the terminology, a Top Level Domain is what goes after the dot in a domain name,  By far the most common TLD is .com, but you no doubt have come …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/big-players-in-the-gtld-applications/

Fraud School?

Six men in Britain have been convicted of not only selling fraudulent documents, but effectively operating a “school” to teach customers how to perpetuate frauds with the documents they purchased.  Confidential Access, the website at the center of the multi-level fraud, sold (mostly stolen) full credit profiles to its 11,000 customers for approximately $8,500 a …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/fraud-school/

Billions of Theft from the U.S. Government Could Be Stopped

Billions of dollars are being stolen from the U.S. Treasury through a combination of identity theft and related fraudulent tax returns. To make matters worse, much of this theft could be avoided by using procedures that are already known, and which would provide a dramatic return on investment. In May, J. Russell George, the Treasury …

Continue reading

Permanent link to this article: http://betweenthenumbers.net/2012/06/billions-of-theft-from-the-u-s-government-could-be-stopped/