According to Accounting Today, the Supreme Court unanimously rejected a Minnesota county’s argument that a 94-year-old woman had no property interest in a condominium they seized from her and later sold for more than her unpaid taxes. Questions: Source: Cohn, M. (2023). SCOTUS rules for 94-year-old in property tax case. Accounting Today, June 6 (Retrievable… Read more »
Posts Categorized: Cost Accounting
Higher Stock Ownership among Americans in 2023
According to the Washington Post, 61 percent of Americans own stocks, which is the highest number since 2008. Questions: Source: Singletary, M. (2023) More Americans own stocks. This is great for their financial future. The Washington Post, June 6. (Retrievable at https://www.washingtonpost.com/business/2023/06/06/american-stock-ownership/)
Do more taxes mean better services?: A cautionary tale
Generally, you equate the need for higher taxes in a city as a way to improve the environment. This blog looks at the city of Portland, Oregon. Questions: Source: Conerly, B. (2021) Death Of A City: The Portland Story? Forbes, Jan. 28 (Retrievable online at https://www.forbes.com/sites/billconerly/2021/01/28/death-of-a-city-the-portland-story/?sh=bff67ac74ad0) Constantz, J. (2023). The cities where high earners face… Read more »
OOPS! A $3 Billion Accounting Error
According to Time, the Pentagon overcounted the value of weapons and other equipment sent to Ukraine by roughly $3 billion. Questions: Source: Hennigan, W. (2023) Pentagon Says Multi-Billion Dollar Accounting Mistake Means More Arms Funding for Ukraine. Time, May 18 (Retrievable online at https://time.com/6281063/pentagon-accounting-error-ukraine-arms-funding/)
Catastrophic Panic
According to the Washington Post, small businesses are beginning to brace for a worst-case scenario of delayed payments, stalled projects and layoffs if the nation defaults on its debt. Questions: Source: Bhattarai, A. (2023). Small businesses are beginning to panic about a government default. The Washington Post, May 21 (Retrievable online at https://www.washingtonpost.com/business/2023/05/20/debt-ceiling-small-business/)
Vice Headed for Bankruptcy
According to the New York Times, Vice, the digital-media company that earned investments by Disney and Fox prior to a crash-landing, is preparing to file for bankruptcy, according to two people with knowledge of its operations. Questions: Source: Hirsch, L. and B. Mullin. (2023). Vice Is Said to Be Headed for Bankruptcy. The New York… Read more »
First Republic’s Problems
According to the New York Times, the bank’s rivals appear on firmer footing this time, in contrast with the widespread panic after the failures of Silicon Valley Bank and Signature Bank in March. Questions: Source: Cowley, S. (2023). In An Unsteady Banking Industry, First Republic’s Problems Stood Out. The New York Times, May 1 (Retrievable… Read more »
The Godfather Speaks about AI
According to the New York Times, for half a century, Geoffrey Hinton nurtured the technology at the heart of chatbots like ChatGPT. Now he worries it will cause serious harm. Questions: Source: Metz, C. (2023). ‘The Godfather of A.I.’ Leaves Google and Warns of Danger Ahead. The New York Times, May 1 (Retrievable online at… Read more »
New York Eases Greenhouse Gases Accounting
According to the Washington Post, New York Gov. Kathy Hochul (D) is backing a proposal to change the state’s method of accounting for greenhouse gas emissions, after state modeling estimated significant cost increases for buying gas and heating homes. Questions: Source: Joselow, M. and V. Montalbanos (2023). New York, citing consumer costs, may ease its greenhouse gas… Read more »
NBCUniversal CEO Out
According to the Washington Post, the NBCUniversal CEO Jeff Shell will leave the company “effective immediately” following an investigation into a complaint of inappropriate conduct. Questions: Source: Kaur, A. (2023). NBCUniversal CEO departs after ‘inappropriate relationship’. The Washington Post, April 23 (Retrievable online at https://www.washingtonpost.com/business/2023/04/23/jeff-shell-ceo-nbcuniversal-leaves)