Under a federal program exclusive to Alaska, the Postal Service is responsible for shipping more than 100 million pounds a year of apples, frozen meat, dog food, diapers and countless other consumer items to off-road villages in the sparsely populated outposts known as the bush. Over three decades acting as freight forwarder, the agency has… Read more »
Posts Categorized: Financial Statement Analysis
How much do you have to make to get a checking account?
Zikomo Fields makes more than $100,000 a year in his job as a software engineer in Kansas City. However, he cannot get a bank account because of a little-known database that tracks financial transgressions, known as ChexSystems. Financial institutions who subscribe to this service view it as fraud prevention. However, New York Attorney General Eric… Read more »
Mmmmmmmmm! But watch out for the Mac & Cheese!
Some are calling this the new “Cheeseapocalypse” as Kraft Foods Group recalls 260 cases of Velveeta sold to Walmart because the batches lack enough preservatives and could “spoil prematurely and/or lead to food borne illness.” Questions: 1. What states are affected by the recall? 2. What ingredient is causing the recall? 3. What types of… Read more »
When is a Raise Too Small?
Deeb Salem, a former Goldman Sachs trader, says that after making the company in excess of $7 billion in 2010, his $8.25 million raise was not enough compensation. Questions: 1. What percentage drop was Salem’s 2010 raise as compared to his 2009 raise? What percentage drop was Salem’s 2011 raise as compared to his 2010… Read more »
Maybe not such a good business plan.
In Crumbs Bake Shop’s most recent Form 10-Q filed with the SEC, the company disclosed that its auditors, Rothstein Kass, “expressed substantial doubt about our ability to continue as a going concern.” Questions: 1. Since the IPO of Crumbs, how much has the stock dropped? 2. Explain the statement that Crumbs published in its 10-Q… Read more »
Time to Cash In?
During his eight years as steward of the world’s largest economy, Mr. Bernanke’s salary was about $200,000 a year. Now he makes that in just a few hours speaking to bankers, hedge fund billionaires and leaders of industry. Questions: 1. How much is Mr. Bernanke likely to make this year in speaking fees? 2. What… Read more »
Questions about Sales Tax
Is a Twix bar food or candy? In 24 states, a Hershey’s bar is candy but a Twix isn’t. That’s because Twix contains flour, and in those states — which all share a sales tax code — candy is defined as being flour free. And since groceries aren’t taxed, you’ll pay taxes for the Hershey’s,… Read more »
Making An Embarrassing Case Disappear?
According to Michael Devine, a freelance programmer who is one of the four plaintiffs named in the suit against tech giants Apple, Google, Intel and Adobe, the companies are getting off far too lightly. With cash hoards of over $230 billion collectively, the settlement amount of this class action suit was about one-tenth of the… Read more »
Billing Outlier or Fraud?
According to the Washington Post, Medicare spent $152 per member in the Huntsville, Ala., medical marketplace — 38 times the national average — for “unclassified” drug injections, including a type of injection used rarely around the country but used thousands of times a year at the Alabama Pain Clinic in Huntsville. Questions: 1. Why is… Read more »
Is the Federal Government a Risk to Turbo Tax: Read the Filings with the SEC?
Free filing of taxes with the Federal government is a concept that has been endorsed by Presidents Obama and Reagan and is already a reality in some parts of Europe. But why isn’t it a reality? Liz Day’s article provides some evidence that the organization, Computer & Communications Industry Association (CCIA) has launched aggressive efforts… Read more »