Monthly Archive: November 2012

Nov 30

Deloitte study shows growing dissatisfaction with U.S. business conditions

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International accounting & consulting firm Deloitte recently issued a study of 652 mid-market company senior executives entitled, “America’s economic engine – why entrepreneurs matter” Companies eligible to participate have annual revenues of between $10 million and $1 billion. Deloitte previously performed previous studies, which allowed Deloitte to note recent business attitude changes. Generally, U.S. mid-market …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/deloitte-study-shows-growing-dissatisfaction-with-u-s-business-conditions/

Nov 28

Black Friday Weekend: A Great Success

Sales are up from last year’s Black Friday weekend, 13% up to be exact. While not as large an increase as last year’s 16% growth over 2010, it is a strong start to the shopping season.  Even though Cyber Monday’s sales are not considered in this amount, this weekend boasts the most online sales ever, …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/black-friday-weekend-a-great-success/

Nov 26

SEC’s Shapiro quits

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Mary Schapiro announced today that she will step down December 14, 2012 as chairperson of the Securities and Exchange Commission (SEC). Her five-year term does not expire until January 2014, although it was widely speculated that she would resign after the election. President Obama immediately announced that he is appointing existing SEC Commissioner Elisse Walter as …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/secs-shapiro-quits/

Nov 26

HP to take legal action over its bold multi-billion dollar fraud allegation

In connection with its quarterly earnings release and a related $8.8 billion write-down, Hewlett-Packard claimed that it was misled by hidden “serious accounting improprieties” involving its $11.1 billion purchase of formerly-public company Autonomy. The Autonomy acquisition closed October 2011, under the watch of former HP CEO Leo Apotheker. Apotheker’s reign was short-lived (11 months), and …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/hp-to-take-legal-action-over-its-bold-multi-billion-dollar-fraud-allegation/

Nov 25

HP claims $5 billion of overpayment was due to fraudulent financial reporting

HP is going to take an $8.8 billion write-down related to its $11.1 billion acquisition of British company Autonomy Corporation PLC in October 2011.  HP asserts that much of the write down (approximately $5 billion) is required because of accounting irregularities, allegedly fraud, contained in the financials statements relied upon in association with the purchase. Among …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/hp-claims-5-billion-of-overpayment-was-due-to-fraudulent-financial-reporting/

Nov 24

New Congressional report renews the call to combine the SEC and CFTC

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Multiple prior studies suggested that the Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) be combined, but this has not occurred. A November 15, 2012 report raises this issue again, this time in connection with MF Global’s bankruptcy. This article describes the malfeasance at MF Global that led to its bankruptcy. …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/new-congressional-report-renews-the-call-to-combine-the-sec-and-cftc/

Nov 23

Why You Should Stay at Home Today

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In 1966 the Philadelphia Police Department coined the term Black Friday to describe the traffic jams and crowding of downtown stores, a description which is still accurate today). This day, although a great day for retailers, has historically been wrought with horrible scenes ending up in the next day’s newspapers. Incidents ranging from near riots …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/why-you-should-stay-at-home-today/

Nov 20

Will Black Friday and Cyber Monday provide the gust that lifts the retailing industry up?

Black Friday is the biggest shopping day of the entire year, in the biggest shopping season of the year, comprising nearly 20% of annual retail sales. With many people waiting outside stores for hours huddled in blankets and sleeping bags to be the first to get the major deals, the shopping bonanza is expected to …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/will-black-friday-through-cyber-monday-be-the-gust-that-lifts-the-retailing-industry-up/

Nov 19

Sixth Circuit continues the law’s quest to keep up with technology

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In United States of America vs. Melvin Skinner (09-6497, August 14, 2012), the Sixth circuit decided a case involving the limits of the use of computer and other modern technology (here, specifically cell phones) to obtain evidence. The Sixth Circuit summarized the factual background as follows: The government used data emanating from Melvin Skinner’s pay-as-you-go …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/sixth-circuit-continues-the-laws-quest-to-keep-up-with-technology/

Nov 18

Recent IMF Economic Report Provides New & Alternative Solutions to The “Fiscal Cliff”

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A recent economic study by the International Monetary Fund (IMF), entitled “Tax Composition and Growth: A Broad Cross-Country Perspective” has received practically no attention, yet is directly relevant to the current debate. The report concludes that personal income taxes cannot be increased without affecting economic growth. However, the economists conclude that the same amount of …

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Permanent link to this article: http://betweenthenumbers.net/2012/11/recent-imf-economic-report-provides-new-alternative-solutions-to-the-fiscal-cliff/

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