Around this time each year, my friend Michelle Leder at footnoted tries to come up with the worst SEC disclosures of the past 4 quarters.
She asks her readers to cast their votes and this year, and that tradition continues: She is asking her readers to vote on the stinkiest disclosures of 2009.
Despite –or perhaps because — the economy was (shall we call it) “soft,” there was plenty of material to choose from; So much so that it was actually difficult to winnow down the list to just five. But here's what Michelle came up with (with the links to the actual posts):
You can cast your vote for the worst footnote here. Voting will remain open through Dec. 30 and the results will get posted on Dec. 31.
OT, Adam Sharp on unfolding CITI disaster.Tiny Tim holding for an eyewash paper gain on CITI while his IRS Dept takes $35B hit on special tax treatment for CITI. I really mean US taxpayers are taking $35B hit on CITI
http://seekingalpha.com/article/179086-citigroup-take-the-loss-tim?source=email
What is a “tax gross up”?
Maybe we have to change the way society sees money. Most scams, like fineprint BS, are made possible by a zero sum view of the world.
@KevinM: It’s when the company basically increases or “grosses up” one’s gross payment to, in effect, pay the taxes on what that person would have been responsible for themselves.
The result would be Ross Perot Jr. receiving a NET payment of $1.1 million instead of a gross payment of that same amount with net being much lower due to tax deductions.
“A library book lasts as long as a house, for hundreds of years. It is not an article for mere consumption, but fairly of capital, and often in the case of professional men, setting out in life, it is their only capital.” "” Thomas Jefferson
http://www.goodreads.com/author/quotes/1673?page=1
note: kindle e-books and SEC reports in XBRL need not apply..
OK I needed that gross up explaination too. Now how about a loose translation of chaza. Clicked thru the Chesapeake link since Aubrey is a neighbor of a friend and found the poor sap had to sell his 9000 bottle wine collection. That’s 24 years worth at one a day. Oink.
Schadenfreude postpones compassion. We all wish our profits were grossed up; but why isn’t that taxed at 100% to keep it real?
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With the US Treasury market selling off sharply again where the 10 yr note yield is at the highest level since mid August, it begs the question of what the main catalyst is. Is it the growth belief, inflation worries and/or concerns with deteriorating US government finances? The markets are saying a little bit of all. Earnings last week from RIMM, ORCL and NKE gave a sentiment lift to the economic outlook as has some of the recent economic data. Today, inflation expectations implied in the 5 yr and 10 yr TIPS are breaking out to the highest level since...
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