May 2012 archive

Going to the source

There are a plethora of business climate indexes available; however, a recent small business survey conducted by Thumstack.com and the Kauffman Foundation appears to be one of the few (or maybe the only) that actually use small businesses as the source of its results.  Thumstack.com and the Kauffman Foundation surveyed small business owners to understand …

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Grassley again criticizes IRS whistleblower program administration

Senator Chuck Grassley is a member of the Senate Finance Committee. In a May 2012 letter, he prods Treasury Secretary Timothy Geithner and IRS Commissioner Douglas Shulman to do a much better job of timely compensating IRS whistleblowers for their information. See this article for more information about the IRS whistleblower program and the program’s …

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Permanent link to this article: https://betweenthenumbers.net/2012/05/grassley-again-criticizes-irs-whistleblower-program-administration/

The Most Secure CEO in America

In an earlier post just prior to Facebook’s IPO I outlined the challenges facing the company regarding justifying a P/E ratio higher than 99 percent of the Fortune 500.  Since then further worries have come up regarding whether Facebook can grow ad revenue as users switch to mobile devices.  But investors need to heed one …

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Permanent link to this article: https://betweenthenumbers.net/2012/05/zuckerberg/

Expert testimony may become common in USPTO appeals

In an April 18, 2012 Opinion, the U.S. Supreme Court in Kappos vs. Hyatt (10-1219) opened the door for expert testimony in federal district court actions in which a patent applicant challenges the USPTO’s denial of an application. The Opinion framed the issue being reviewed as follows: The Patent Act of 1952 establishes the process …

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Attempted Biopharmaceutical Takeover Turns Toxic

Human Genome Sciences, Inc. (“HSG”), a biopharmaceutical company targeted for acquisition by GlaxoSmithKline (“GSK”), has adopted a defensive position commonly known as a “poison pill”.  HSG is apparently unimpressed with GSK’s $13 cash per share ($2.6 billion) offer and has approved a Shareholder’s Rights Plan whose intention is to make the takeover uneconomical for GSK. …

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Facebook IPO May Have Set a Strange Record

On May 22nd the Los Angeles law firm of Glancy Binkow & Goldberg LLP filed a lawsuit (Lazar v. Facebook, Inc., et al.) in California Superior Court against Facebook and others involved in their highly publicized IPO.  The following morning on the opposite coast in New York a similar case was filed in US District Court (Brian Roffe Profit Sharing Plan …

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Permanent link to this article: https://betweenthenumbers.net/2012/05/facebook-ipo-may-have-set-a-strange-record/

Sixth Circuit Provides Practical Guidance Regarding Expert Testimony Admissibility

In Newell Rubbermaid, Inc. vs. The Raymond Corporation (No. 10-3912, April 3, 2012), the Sixth Circuit evaluated the trial court’s exclusion of Plaintiff’s expert testimony, and related successful defendant motion for summary judgment because of a failure to have minimally-required expert witness evidence. In upholding the trial court’s exclusion under the abuse of discretion standard, …

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FTC and Skechers Agree to a $40 Million Settlement

The Federal Trade Commission (“FTC”) and Sketcher USA Inc. reached a $40 million settlement on charges that Sketchers deceived consumers.  The FTC joined with 45 attorneys nationwide in the consumer protection agency’s claims against Sketchers. According to the FTC, The Federal Trade Commission announced that Skechers USA, Inc. has agreed to pay $40 million to …

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Big Plaintiff Victory in Revenue Sharing 401(k) Trial

In Tussey vs. ABB. Inc. (Case No. 2:06-CV-04305-NKL, March 31, 2012), a United States District Court for the District of Western Missouri decided an important case regarding common fees and revenue sharing within 401(k) plans. The case imposed extensive liability on the plan sponsor, resulting in $36.9 million of damages, plus Plaintiff’s attorneys’ fees. We …

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Between the Numbers of Salesforce.com

Salesforce.com.com (NYSE: CRM) reported its yearly earnings in February. As a publicly traded company, Salesforce.com is required to issue annual financial reports in accordance with Generally Accepted Accounting Principles, or “GAAP”. While Salesforce.com presents GAAP-based earnings in its SEC filings, its management touts a different metric as the preferred method of measuring the company’s performance.  …

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