May 31
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 …
Permanent link to this article: https://betweenthenumbers.net/2012/05/going-to-the-source/
May 29
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 …
Permanent link to this article: https://betweenthenumbers.net/2012/05/grassley-again-criticizes-irs-whistleblower-program-administration/
May 25
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 …
Permanent link to this article: https://betweenthenumbers.net/2012/05/expert-testimony-may-become-common-in-uspto-appeals/
May 24
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. …
Permanent link to this article: https://betweenthenumbers.net/2012/05/attempted-biopharmaceutical-takeover-turns-toxic/
May 21
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, …
Permanent link to this article: https://betweenthenumbers.net/2012/05/sixth-circuit-provides-practical-guidance-regarding-expert-testimony-admissibility/
May 19
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 …
Permanent link to this article: https://betweenthenumbers.net/2012/05/ftc-and-skechers-agree-to-a-40-million-settlement/
May 08
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 …
Permanent link to this article: https://betweenthenumbers.net/2012/05/big-plaintiff-victory-in-revenue-sharing-401k-trial/
May 07
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. …
Permanent link to this article: https://betweenthenumbers.net/2012/05/between-the-numbers-of-salesforce-com/
May 05
The US has charged over 100 individuals in the largest Medicare fraud crackdown to date. The falsely submitted billings total over $450 million, approximately $60 million of which had been paid out. The number of doctors, nurses, social workers and various other support personnel involved in this sweep demonstrates the pervasive nature of the fraud …
Permanent link to this article: https://betweenthenumbers.net/2012/05/recent-crackdown-demonstrates-the-magnitude-of-medicare-fraud/
May 02
The U.S. Department of Labor has ordered Wal-Mart to pay $4.8 million in back wages and damages for failing to pay workers for overtime. The Wal-Mart employees who were affected are vision center managers and asset protection coordinators at Wal-Mart Discount Stores, Wal-Mart Supercenters, Neighborhood Markets, and Sam’s Club warehouses. Wal-Mart considered these employees exempt …
Permanent link to this article: https://betweenthenumbers.net/2012/05/wal-mart-to-pay-4-8-million-in-back-wages-and-damages/
