Category: News and Politics
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USA Today takes a strong stand against Trump
I was impressed by the strong clear writing in today’s statement by the editorial board of USA Today. I’ve taken the same position and it feels comforting as more leaders come aboard the “never Trump” movement. USA Today emphasizes that this is the first time that USA Today has taken a stand in a political election. Here…
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Blind trust basics
I can’t figure out if the Trump campaign people don’t understand how a blind trust works or they just hope that the rest of America doesn’t. Blind trusts are usually a great tool for politicians. The basic concept is that the politician is not aware of what company stocks or investments their independent investment managers…
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Clinton Foundation vs. Trump Foundation
Recent news reports about the Clinton Foundation and Trump Foundation allow us to draw sharp distinctions between the two organizations. Starting with the basics, the Clinton Foundation is a properly registered charity that is actually active in attempts to do good in the world. The Clinton Foundation completes required filings and audits. Some transactions reported in this election…
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More on the education divide in the U.S.
I’ve written in an earlier bog post about the unprecedented ‘education divide’ where the level of formal education is now the most highly correlated indicator of a person’s political beliefs. Yesterday The Wall Street Journal ran a story about that same phenomenon with a series of findings by the Bowling Green State University National Center for Family…
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‘Ignorance is bliss’ but stay away from public leadership
“The more I learn, the more I realize how much I don’t know.” – Albert Einstein One in three Americans admits that they did not read a book in the last year. Donald Trump is among them. He reportedly admits that he hasn’t read a book in 50 years. I suspect that his supporter…
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Where does electricity come from?
With electricity being such an important part of our daily lives, I am surprised how many people do not know where it comes from. The #1 source of electricity in the U.S. is coal. Natural gas obtained through fracking is expected to be the #1 source within the next 25 years. Here in Pennsylvania, the largest…
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New rules for nonprofit financial statements
On Thursday August 18, 2016 the Financial Accounting Standards Board (FASB) issued new guidance on financial reporting for nonprofit organizations. The FASB is the governing body responsible for developing the financial statement standards used by the accounting profession. The new rules affect charities, foundations, colleges and universities, health care providers, religious organizations, trade associations, and cultural…
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Aetna oddities
News is emerging that Aetna attempted to strong-arm the U.S. Justice Department last month before pulling out of the individual health insurance exchanges. That doesn’t seem like a smart strategy under any circumstance and of course it did not work. I recall sitting in an Aetna corporate strategy presentation in the late 1980s and recognizing…
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CPA licensing issues
In the aftermath of my recent unplanned involvement in investigating CPA license reciprocity issues, state licensing and peer review requirements, I conclude four things: 1) The stated intention of the AICPA’s mobility project is largely usurped by the states that do not wish to lose control and revenue from the practice of accounting within their…
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Insulting Pennsylvanians: enough BS already
I’m still astounded by Trump’s accusations over the weekend about voter fraud in the banana republic of Pennsylvania. Even if he is completely ignorant on the topic, his advisors must be aware that there isn’t a single case of documented voter fraud in recent PA history even after substantial (and expensive) investigation and litigation in…