Archives
_________::::____#106 - January 17, 2006_________________
#106 Updated:  1/17/06 8:40 a.m.

01/17/06 IRS Revoking Exemptions of Credit Counselors
The Internal Revenue Service has revoked the tax-exempt status of more than 30
credit-counseling firms, which collectively account for more than half of the
industry's revenue.

01/17/06 Defendants Ask for Dismissal of KPMG Shelter Charges
Many of the 19 former tax professionals facing trial over the sale of KPMG tax
shelters, whose legality has been questioned by the federal government, have
asked for the dismissal of the charges in a variety of joint motions.

01/16/06 Distortions and Deceptions in Strategic Decisions
The chief executive of a large multinational was trying to decide whether to
undertake an enormous merger — one that would not only change the direction of
his company but also transform its whole industry. He had gathered his top team
for a final discussion. The most vocal proponent of the deal — the executive in
charge of the company's largest division — extolled its purported strategic
advantages, perhaps not coincidentally because if it were to go through he would
run an even larger division and thereby be able to position himself as the CEO's
undisputed successor.

01/16/06 SEC Upgrades IBM Disclosure Probe
The Securities and Exchange Commission has raised the status of its probe of
IBM's earnings disclosures from an informal investigation to a formal one,
according to the company.

01/16/06 GMAC Taking $450 Million Goodwill Charge
The 1999 acquisition of The Bank of New York's commercial finance business by
the General Motors subsidiary reportedly cost it $1.8 billion.
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