Latest Articles

  • GAO Report Warns of Aging Tech Infrastructure at IRS

    By:
    Chris Gaetano
    |
    Jul 3, 2018
    The Government Accountability Office, in a recent report, said that the three key technology systems at the IRS are facing significant risks due to their reliance on legacy programming languages, outdated hardware and a shortage of human resources with critical skills. 
  • At $6.3 Trillion, Corporate America Has More Debt Than It Ever Had in All of History

    By:
    Chris Gaetano
    |
    Jul 2, 2018
    U.S. companies have a combined $6.3 trillion of total debt, more than any other time in history, even before the recession. What's more, this figure excludes banks, which would likely add even more to the total. 
  • Over 800 Cryptocurrencies Worth Less Than 1 Cent

    By:
    Chris Gaetano
    |
    Jul 2, 2018
    While cryptocurrencies unbound by any sovereign entity have captured people's imaginations, a recent report found that, as of now, more than 800 are effectively dead in the water, as they are all worth less than 1 cent. 
  • SEC Changes Definition of Smaller Reporting Company, Expands Number Qualifying for Exemptions

    By:
    Chris Gaetano
    |
    Jun 29, 2018
    The Securities and Exchange Commission voted to change the definition of a smaller reporting company, thereby expanding the number of companies that qualify for already-existing exemptions from certain disclosure rules. 
  • Deloitte Board Declines to Back CEO Englebert for Second Term

    By:
    Chris Gaetano
    |
    Jun 29, 2018
    Big Four firm Deloitte's board of directors will not be nominating current CEO Cathy Englebert for a second term, a move that has stunned its partners amid record earnings this fiscal year. 
  • LaCroix Company Won't Tell SEC Secret Formula Behind Custom Growth Metrics

    By:
    Chris Gaetano
    |
    Jun 28, 2018
    National Beverage Corp., the parent company behind seltzer brand LaCroix, said that it has "magnified" its proprietary velocity per outlet and velocity per capita sales metrics to create "growth never before thought possible." When the SEC asked just what those metrics mean, though, the company said it's a secret. 
  • Poll Finds 93 Percent of Workers Are Ready for Robot Bosses

    By:
    Chris Gaetano
    |
    Jun 28, 2018
    A recent report from tech company Oracle offers some evidence that humanity's final resting place may be under the boot of a robot overlord, as a recent survey found that an overwhelming 93 percent of human resources leaders and employees would trust orders from an artificial intelligence. 
  • Sen. Schumer Slams IRS Efforts to Nix SALT Fixes

    By:
    Chris Gaetano
    |
    Jun 27, 2018
    Senate Majority Leader Chuck Schumer (D-N.Y.) said that the IRS's objections to state-level workarounds to the recently enacted state and local tax (SALT) deduction cap ignore prior precedent and undermine state's rights. 
  • SEC Charges Credit Rating Analyst with Insider Trading

    By:
    Chris Gaetano
    |
    Jun 27, 2018
    The Securities and Exchange Commission has charged Sebastian Pinto-Thomaz with insider trading, saying he used the confidential information he received as an analyst at a credit rating agency to pass inside tips to two of his friends, who were able to leverage the tips into hundreds of thousands of dollars in profit. He and his two friends were also criminally charged with securities fraud.

  • Yet Another Wells Fargo Scandal: Investors Steered to Actively Trade Investments Meant for Long-Term Holds

    By:
    Chris Gaetano
    |
    Jun 26, 2018
    In the latest of a long list of Wells Fargo scandals, the bank was recently fined $4 million by the Securities and Exchange Commission over financial advisers encouraging people to actively trade investments that are meant to be held long-term.