b.cognosco
Where leaping to conclusions is my primary form of forward motion.
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Friday, May 2, 2003
Big Losers File for Refunds
Enron, MCI, Qwest, HealthSouth and others are filing, or planning to file, for tax refunds on the billions of income they falsely claimed during their creative-GAAP period. Maybe all that new money can help some of their starving lawyers.
After Inflating Their Income, Companies Want IRS RefundsBy REBECCA BLUMENSTEIN, DENNIS K. BERMAN and EVAN PEREZ
Staff Reporters of THE WALL STREET JOURNALA parade of big companies is under investigation for inflating their earnings during the stock-market boom of the 1990s. Now some of them see an unusual silver lining: They want back the taxes they overpaid along the way.
In the latest wrinkle in the unfolding series of corporate scandals, MCI and Enron Corp. are in the process of collecting or filing for tax refunds or credits from the Internal Revenue Service because of tax payments on billions of dollars they falsely claimed to have earned. Qwest Communications International Inc., which plans to restate $2.2 billion in revenue, also is likely to seek a refund. Embattled HealthSouth Corp., accused of overstating its earnings by more than $2 billion, said that it hasn't made a final decision to file for a refund but is considering it. [...] [Wall Street Journal Online (subscription required)]
Terry Frazier at 9:15 AM
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Wednesday, October 9, 2002
Bulding P2P Organizations
The idea of collaborative collectives, or what Paolo calls P2P companies, is cropping up all over. It's a natural reaction to the abundance of unemployed talent now prowling the streets and I've heard it from people in several industries.I've thought about it quite a bit, and I like the concept. I even believe it's possible, though I admit it's a bit of a stretch. I went so far as to write what Paul Holbrook called a personal manifesto on the matter, and distributed it to a carefully screened handful of friends. [more...]
Terry Frazier at 9:19 AM
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