During these recessionary times, “people are drinking less, but they want something that’s good,” said Simon Thillou, a former journalist who in 2006, opened La Cave à Bulles, a specialty shop in the Marais section of Paris. Around the world in 17 countries, people who are tired of tasteless beer have turned to the Brooklyn… Read more »
Posts Categorized: Fraud Accounting
Boeing CEO Gets Pay Raise Despite 787 Problems
Jim McNerney, Boeing’s CEO, saw his compensation rise by 15 percent to $21.1 million for 2012. His company rewarded him for better-than-expected profits and faster airplane production. Questions: 1. Based on this information, what was Mr. McNerney’s compensation for 2011? 2. According to the article, why has Boeing’s stock been rising? 3. If Mr. McNerney’s… Read more »
Watch Out for On-The-Lot Financing
Since many banks will not give auto loans to people with bad credit or no credit, due to increased restrictions or risk, on-the-lot financing has become more popular. Unfortunately, since Buy-Here-Pay-Here financing is not strictly regulated, interest rates can be quite high. Questions: 1. What are the benefits of on-the-lot financing? 2. What are the… Read more »
Slowing Wealth – New Study Reports
According to a new study by the Urban Institute, the American dream of working hard, saving more and becoming wealthier than one’s parents holds true for many, unless you’re under 40. Questions: 1. What are some of the factors that have negatively affected the wealth of younger Americans? 2. According to the article, if a… Read more »
The Loophole
About 12 million borrowers turn to payday lenders each year. According to a new study by the Pew Charitable Trusts, only about 14 percent of borrowers can afford to take enough out of their monthly budget to repay the average payday loan. While 15 states that have banned the predatory, high-interest loans that payday lenders… Read more »
What’s Martha Stewart Doing in Court Again?
In the latest Martha Stewart saga, Macy’s alleges Martha Stewart Living Omnimedia violated exclusivity terms of its contract when it agreed in 2011 to open Martha Stewart stores inside J.C. Penney’s stores. Questions: 1. Martha Stewart denied Macy’s allegations that she did anything unethical and said she was only looking to expand her brand. After… Read more »
Justice for Dixon Illinois?
In November 2012, Rita Crundwell, comptroller of Dixon, Illinois, pleaded guilty to wire fraud and admitted that she stole approximately $53 million, admitting she stole the money from the city of Dixon while she was comptroller. She still faces 60 separate but related state felony charges for theft in Lee County. She has pleaded not… Read more »
Who spilled the ketchup? Unknown Traders, Of Course!
UPDATE 2/22/13: After the traders failed to appear at a hearing today in Manhattan, U.S. District Judge Jed Rakoff agreed to freeze the Goldman Sachs Group Inc. account until the case is resolved. The SEC on Feb. 15 sued the “unknown” traders over suspicious purchases of Heinz options through the account. Judge Rakoff was quoted… Read more »
Are you Due any Lost Funds?
Ohio has returned more than $3.4 million in unclaimed funds to Elyria in what it says is the largest such payment in state history. Questions: 1. Where did the funds originate? 2. Are there unclaimed funds in every state? If so, how do you access the list in your state? 3. How do you think… Read more »
Survey Shows that Out-of-Network Providers Are Billing Consumers up to Several Thousand Percent more than the Government would pay for similar Medicare Services
According to a new study from the Center for Policy and Research, the nation must address the soaring cost of medical care that continues to rise at an unsustainable rate. For consumers who choose to seek care out-of-network, their survey shows that the charges billed by some out-of-network providers can exceed several hundred or several… Read more »