irs

Felon Gets $104 Million for Whistle-Blowing

Published on Wed, 09/12/2012 - 15:24
By FNNO Staff in analysis, business finance, fnno, irs, market, news, nyse: ubs, stock, trading

Birkenfeld, a former employee of UBS, helped expose illegal ways in which the bank enabled its clients to hide their money over-seas.

analysis, business finance, fnno, irs, market, news, nyse: ubs, stock, trading

When was the last time you heard of a convicted felon receiving $104 million from the government? If your answer was never, that changes today as former bank executive Bradley Birkenfeld is getting a huge monetary reward for his a

By FNNO Staff
fnnonline@gmail.com

Sector Update: Consumer Shares Keeping Gains

In consumer sector ETFs, the SPDR S&P Retail (XRT) is up 1.0%.

In mid-day news, shares of American Apparel are down after the Los Angeles-based clothing company said the shortfall in its cash may force it to seek bankruptcy protection, Bloomberg reported.

Two American Apparel board members from lender Lion Capital resigned to evaluate the investment, the report said, citing a regulatory filing.

American Apparel shares are down 15.9%, or $0.15, to $0.81.

american apparel, app, bankruptcy, cash, clothing, consumer, financial, fiscal, investment, irs, lender, lion capital, los angeles, odp, office depot, retail, sec, sector, shares, tax

Consumer shares are higher in mid-day trading,while American Apparel (APP) may have to file for bankruptcy protection.

By FNNO Staff
fnnonline@gmail.com

Office Depot Forced to Restate 2010 Results After IRS Decision (ODP)

Published on Fri, 04/01/2011 - 09:35
By FNNO Staff in General Interest, ODP, credit, earnings, irs, loss, market, nyse, odp, office depot, office supplies, profit, revenue, shareholder, shares, stock, tax, trade, News Update

The revised 2010 results will take the company to a loss from a profit for the year.

Office Depot reported that the Internal Revenue Service has, "denied its claim to carry back certain tax losses to prior tax years under economic stimulus-based tax legislation enacted in 2009, which claim was made after the compa

The company said the decision, "

credit, earnings, irs, loss, market, nyse, odp, office depot, office supplies, profit, revenue, shareholder, shares, stock, tax, trade

Shares of Office Depot (NYSE:ODP) are down big in pre-market trading, after the company announced late Thursday that it is restating its full year 2010 results to reflect an IRS decision on its tax credits.

By FNNO Staff
fnnonline@gmail.com

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