July 2012 archive

Accounting Standard Will Require Significantly More Leases To Be Put On The Balance Sheet

On June 13, 2012, after more than a year of deliberation, the International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board (FASB) agreed on an approach for accounting for leases that generally will be simpler to implement than some of their earlier and more controversial proposals. The Boards plan to release a joint …

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Bullseye

In some respects I’m feeling pretty justified by last week’s Supreme Court ruling on the Individual Mandate.  That is because eighteen months ago I said that commentators were pushing aside the very real likelihood of it being justified under the taxation clause of the constitution.  That prediction got me more than a little ridicule in some online …

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Fifth Time’s a Charm? Not Likely When it Comes to Bankruptcy.

Strauss Auto, an auto parts retailer, appears to have set a new record.  It is not likely one they were pursuing. The company is believed to be the only one in the history of the Bankruptcy Code to have entered into Chapter 11 bankruptcy five times (a move some are jokingly calling a Chapter 55 …

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Federal Circuit Approves Evidence of Both Settlements And Related Negotiations In Reasonable Royalty Damages

Patent law (35 U.S.C. § 284) allows for lost profits in patent infringement cases, but requires damages of at least a reasonable royalty even if lost profits cannot be substantiated. The determination of a reasonable royalty is most often done through a hypothetical negotiation which attempts to ascertain the royalty upon which the parties would …

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More people agree with the Declaration of Independence…what does this mean for November 2012?

With America’s birthday today, a public opinion pollster (Rasmussen) solicited opinions about whether or not Americans agree with a certain major tenet of the Declaration of Independence, specifically whether “governments derive their only just powers from the consent of the governed.”  Rasmussen reports its results with the following statement: The Declaration of Independence, ratified by …

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Do Long Commutes Cause Health Risks?

Recently, MSNBC warned “Beep! Beep! That creeping commute is hurting your health,” citing a newly published article entitled “Commuting Distance, Cardiorespiratory Fitness, and Metabolic Risk” by Dr. Christine Hoehner et al. The health study finds a statistically significant correlation between commute length and poorer scores on several health indicators, including high blood pressure, obesity, and …

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Will the IRS finally get serious about its whistleblower program?

A June 20, 2012 memorandum from Steven Miller, IRS deputy Commissioner for Services and Enforcement, acknowledges that the IS has done a poor job with it whistleblower program, and seeks to establish a new standard of much better responsiveness. This article describes the program that was signed into law at the end of 2006. Miller’s …

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