Tidbits on October 17, 2005
Bob Jensen at Trinity University
Fraud Updates ---
For earlier editions of New Bookmarks go to
Archives of Tidbits: Tidbits Directory ---
Click here to search Bob Jensen's web site if you have key words to enter ---
For example if you want to know what Jensen documents have the term "Enron"
enter the phrase Jensen AND Enron. Another search engine that covers Trinity and
other universities is at
Bob Jensen's home page is
Security threats and hoaxes ---
25 Hottest Urban Legends (hoaxes) ---
Privatization, Commercialization, Media Rankings,
and Other Problems of Higher Education,
Including Selling Out Education Quality to Athletic Spectaculars
In the past I've provided links to various types of music
available free on the Web.
I created a page that summarizes those various links ---
Train of Life
(Willie Nelson and Patsy Cline)
How Do You Catch Your Tunes? Beyond CDs and Into a World of
PSP vs. video iPod (includes free downloads) ---
Other reviews ---
great photographs (Served up by Trey Dunn at Trinity University)
I have been collecting
these for a while and finally am getting around to posting them. There
are some pretty amazing pictures here. I
am always enjoying your emails so much. I just thought I would pass
these pictures on to you. I am sure you will find them as fascinating as
guy bought a book from a library used book sale. When he got it home
inside he found a couple dozen pictures of Europe during World Wars.
They are obviously taken from a plane as they flew over the war torn
*I did know that there was
color photography during World War I (1914-1918). But the French
invented it, so they used it to document their battles. Here we have
about 400 awesome pictures from this ancient war.
great collection of pictures of Germany before the war. They really show
off the old world charm of Germany.
they were famous World Leaders they were kids and teenagers just like
you and me.
the 1920's, Hollywood was in its prime. This classical period has been
preserved in photos by someone's grandfather who worked as a
photographer for various Hollywood studios. There are some great
pictures of actors and actresses as well as studio back lots.
photographer jumped into a plane and traveled the world capturing
awesome photographs from directly above.
*Black and White World War I pictures.
*Civil War pictures
suffer without complaining is the only lesson we must learn in this life.
Vincent Van Gogh
Frankly speaking, you sometimes have to get
annoyed to make things work well.
Friedrich Wilhelm Nietzsche (1844 1900) ---
There is no path to peace. Peace is the path.
Mahatma Gandhi (1869 – 948) ---
In times of war, the law falls silent.
Marcus Tullius Cicero (106 BC
43 BC) ---
Bravo Dr. Madrid!
U.S. Secretary of Education Appoints Trinity Professor to Commission on the
Future of Higher Education ---
Is this an admissions scandal even in NCAA Division III schools not
having athletic scholarships?
Haverford, a small, selective liberal arts
college outside Philadelphia, competes in Division III, which prohibits
athletic scholarships. But at many Division III institutions, including most
of the nation's small-college academic elite, athletes can measurably
enhance their chances of acceptance by being included on a coach's list for
the admissions office.
Bill Pennington, "Choreographing the Recruiting Dance," The New York
Times, October 16, 2005 ---
Bob Jensen's threads on athletics scandals in higher education ---
"Aiding Students" versus "Buying Students"
In 1643, Harvard University received a gift of ?100
to support the education of a student who was “pious” but poor. And so
American student aid was born well before the United States. That gift kicks
off Rupert Wilkinson’s new book,
Aiding Students, Buying Students: Financial Aid in America
(Vanderbilt University Press). The book is more of
a history than a policy guide — taking readers through the development of
student aid at public and private colleges, and from private and government
sources. But there are many references to current policy issues, including
many before Congress as it reauthorizes the Higher Education Act. Wilkinson,
a former professor of American studies and history at the University of
Sussex, in England, has written numerous books and articles on elite groups
and education in the United States and in Britain. He answered questions
about his book and the current debates over student aid.
Scott Jaschik, "‘Aiding Students, Buying Students’," Inside Higher Ed,
October 14, 2005 ---
Big meta-academic book of the season: Elitism in admissions at
The Chosen is the big meta-academic book of
the season — a scholarly epic reconstructing “the hidden history of
admission and exclusion at Harvard, Yale, and Princeton,” as the subtitle
puts it. Karabel, who is a professor of sociology at the University of
California at Berkeley, has fished documents out of the archive with the
muckraking zeal worthy of an investigative journalist. And his book,
published this month by Houghton Mifflin, is written in far brisker
narrative prose than you might expect from somebody working in either
sociology or education. That’s not meant as a dis to those worthy fields.
But in either, the emphasis on calibrating one’s method does tend to make
storytelling an afterthought. For Karabel really does have a story to tell.
The Chosen shows how the gentlemanly anti-Semitism of the early 20th century
precipitated a deep shift in how the country’s three most prestigious
universities went about the self-appointed task of selecting and grooming an
Scott McLemee, "The Chosen Few," Inside Higher Ed, October 13, 2005
Hot markets for used cars and used books: Buying new is essentially
Readers seeking E.L. Doctorow's new novel "The
March," one of the best-reviewed books of the fall season, can buy the new novel
at their neighborhood bookstore for $25.95 or on the Web for a few dollars less.
Or they can seek out an even better bargain, like the $13.99 (plus shipping)
deal offered earlier this week for a "read once gently" copy on Amazon.com
Inc.'s Web site. The Internet is creating a new and fast-growing category in the
book-selling market -- the barely-used book. An increasing number of consumers
are snapping up used volumes online at invitingly cheap prices. These aren't
yellowing copies of out-of-print titles but often unblemished copies of newly
published books -- sometimes available just a few days after a book's official
Jeffrey A. Tarachtenberg, "The Growing Market For Slightly Used Books: In
Latest Threat to Publishers, Readers Flock to Web to Buy Best-Sellers at Big
Discounts," The Wall Street Journal, September 29, 2005; Page
Turn up your speakers
Listen to a song about Bob Jensen's used truck (scroll down to that "Rusty
Another way to throw away money --- keep paying interest on your credit
Pay off the total balance due on your credit card: Never consider that
misleading "minimum due"
The number of people in the U.S. past due on their
credit-card bills rose to a record in the second quarter of this year, the
American Bankers Association said yesterday. "The last two quarters have not
been pretty," said James Chessen, ABA's chief economist. "Gas prices are taking
huge chunks out of wallets, leaving some individuals with little left to meet
their financial obligations. With gas prices still rising, the third quarter is
not likely to be any better," Mr. Chessen said.
Deborah Lagomarsino, "Past Due Credit-Card Bills Reach Record in U.S.,"
The Wall Street Journal,
September 29, 2005; Page D2 ---
Bob Jensen's threads on credit card company frauds are at
27 states have enacted some form of ID theft notification law to date
California was the first state to require companies
to notify consumers of data losses, and 20 more states have enacted some
form of notification law, MarketWatch says. More bills are pending in
Congress which let companies decide when notification is necessary.
Financial institutions in particular, need to do more to beat the problem of
identity theft, Bruce Schneier said, writing in Wired, according to ZDNet.UK.
“Financial institutions make it too easy for a criminal to commit fraudulent
transactions, and too difficult for the victims to clear their names,” he
writes. “They can put security countermeasures in place to prevent fraud,
detect it quickly and allow victims to clear themselves.” The cost of
securing systems can be steep for many companies, says Mike Sattler. It cost
him almost $100,000 for a high level audit to verify his own systems, he
told MarketWatch. But all of the solutions are not hi-tech, says Alan Brill,
senior managing director of Kroll Ontrack, a subsidiary of Kroll, Inc. the
global risk-consulting firm. Brill suggests that after considering the
specific risks a company faces, management might divert some money from
protecting against hackers to encrypting backup tapes or doing more detailed
employee background checks. Banks and credit card companies now provide
identity-theft protection services to individuals for an average of $12 a
month, according to a report in Dow Jones Newswires. Some insurance
companies provide it for free, and American Express Co. is pitching free as
well as paid services.
"Companies Combating ID Thefts while Consumers Check Credit Reports,"
AccountingWeb, October 11, 2005 ---
What is a "security freeze" protection from ID theft?
The bill's marquee provision is the "security
freeze", the right to control access to your credit report. If used, the
security freeze prevents identity thieves from getting new credit in your
name. "Other states have created security freezes that are expensive or
difficult to use," said Caplovitz, "so very few consumers choose to use the
freeze. The freeze is like the lock on your front door; if you don't use it,
it doesn't keep thieves out. There's no point in creating a freeze that
people won't use. The legislature recognized that, and created the best,
most consumer friendly security freeze in the country. All consumers are
going to wish they were lucky enough to be New Jerseyans." New Jersey's
freeze is better than all others because (1) the credit reporting agencies
must provide a convenient method of use, such as phone or internet; (2) the
credit reporting agencies must lift the freeze as quickly as possible, with
the goal being within 15 minutes; (3) the freeze is free to put on and $5 to
temporarily lift; and (4) it is available to all consumers. Other states'
freezes authorize but don't require a convenient method of use; allow up to
three days to lift; cost more; and, in some states, are limited to Identity
Theft victims only.
"NJ Enacts Strong, Comprehensive ID Theft Prevention Legislation—Best
'Security Freeze' in the Country," June 23, 2005 ---
Bob Jensen's threads on ID theft are at
Why You Need More Fiber -- and 6 Easy Ways to Get It
A recent American Dietetic Association position
paper reported that most of us don't even come close to the recommended
intake of 20 grams to 35 grams of fiber a day. Americans' mean fiber intake
is about half that --14-15 grams a day. That's not surprising when you
consider that we get fiber from 'roughage' like fruits, vegetables, whole
grains, nuts/seeds, and beans. The typical American isn't exactly loading
his or her plate with these foods (you'd be hard-pressed to find a fruit,
vegetable, whole grain, or bean in your average fast-food value meal).
"Why You Need More Fiber -- and 6 Easy Ways to Get It: High-fiber foods
boost health and help control your weight," by Elaine McGee, WebMD,
October 11, 2005 ---
From the Univ. of Pennsylvania: Spreading Yourself Too Thin: The
Atkins Diet and Other Fads
The July bankruptcy of Atkins Nutritionals, the
company founded by diet guru Robert Atkins, signalled the end of a
low-carbohydrate craze some observers say is unrivalled in food marketing.
At its peak, during 2003-2004, some 30 million Americans were following the
Atkins diet, and 20% of shoppers said they had started buying certain
products specifically because they were low-carbohydrate. Yet like any
product fad -- from Pet Rocks to Beanie Babies -- the Atkins craze was
marked by a rapid rise in popularity and an equally rapid decline.
Knowledge@Wharton looks at the different patterns that fads follow, what
factors cause their rise and fall, and what role consumers play in
promoting, and then abandoning, the latest trend.
"Spreading Yourself Too Thin: The Atkins Diet and Other Fads,"
Knowledge@wharton, October 2005 ---
Are Eliot Spitzer's Insurance Lawsuits
Hitting the Wrong Targets?
On September 15, New York State Attorney General
Eliot Spitzer indicted eight former executives from Marsh & McLennan
Companies -- Marsh itself was not charged -- for their part in an alleged
bid-rigging scheme. For Spitzer, bid-rigging is just part of the problem
with the insurance industry. He says that another practice, contingent
commissions, also artificially inflates the price of commercial insurance
and therefore should no longer be allowed. Yet according to Wharton
professor J. David Cummins, "contingent commissions can help keep
property-casualty and other markets efficient," and may "actually level the
playing field by giving buyers and sellers equal access to vital market
"Are Eliot Spitzer's Insurance Lawsuits Hitting the Wrong Targets?"
Knowledge@wharton, October 2005 ---
Seven things you should know about videoblogging ---
About Video Editing ---
Software Updates and Reviews ---
Software Reviews ---
Web data and statistics ---
Digest of Education Statistics, 2004
The National Center for Education
Statistics has published
“Digest of Education Statistics, 2004,”
a compendium of data, most of which
has been previously released, on many aspects of the
American education system. The report contains statistics,
among other things, on enrollments, the composition of the
college faculty and degrees awarded by different types of
higher education institutions.
Inside Higher Ed, October 14, 2005 ---
Business Week's 2005 rankings of "Best Business Schools by Specialty" ---
The above student-based national rankings differ somewhat from how business school deans rank
business schools in the 2005 rankings in US News ---
01. Harvard University (MA)
02. Stanford University (CA)
03. University of Pennsylvania (Wharton)
04. Massachusetts Institute of Technology (Sloan)
Northwestern University (Kellogg) (IL)
06. Dartmouth College (Tuck) (NH)
University of California–Berkeley (Haas)
08. University of Chicago
09. Columbia University (NY)
10. University of Michigan–Ann Arbor (Ross)
Every set of rankings differs somewhat from the 2005 MBA recruiter
ranking reported in The Wall Street Journal (WSJ) where Harvard and
Stanford don't even make the Top 10. The reason, in part, is that
recruiters are looking for diamonds in the rough, those MBA graduates with high
talent that do not demand the enormous starting salaries given to Harvard and
Stanford MBAs. The WSJ rankings are given at
01. Dartmouth College (Tuck)
02. University of Michigan (Ross)
03. Carnegie Mellon Univ.
04. Northwestern Univ. (Kellogg)
05. Yale Univ.
06. Univ. of Pennsylvania (Wharton)
07. Univ. of California/Berkeley (Haas)
08. Columbia University
09. Univ. of North Carolina/Chapel Hill (Kenan-Flagler)
10. Univ. of Southern California (Marshall)
The business school ranking publicity from various
media sources is becoming an enormous threat to higher education integrity and
is being studied as such by the AACSB ---
How can you incorporate streaming media such as archived Webcast into a live
You should try
- They have very inexpensive streaming services using
a variety of file types - wmv, mp3, realmedia and quicktime. After you
upload your clips to your site, you will get an "easylink", and all you need
to do is paste that link into your Powerpoint presentation. Playstream has
been purchased by Vitalstream, but the new owner has only enhanced their
Richard J. Campbell
Bob Jensen's threads on tricks and tools of the trade are at
New Online Dictionary
October 11, 2005 message from email@example.com
I was looking around and saw that have some links
to reference sites. I wanted to ask you to take a look at our dictionary -
Design with speed in mind, its all about finding
definitions fast. It also features a FireFox extension so that users can
look up definitions directly -
I hope you find the site worthy enough to recommend
to your users.
Bob Jensen's links to online dictionaries, encyclopedias, and grammar
helpers are at
"Accounting growing more technical, specialized," by Michelle Cater Rash,
BizJournal, September 12, 2005 ---
http://snipurl.com/BizJournal (this link was forwarded by Ed
With growth in technology and an increase in
government regulations, especially Sarbanes-Oxley, the role and job
description of an accountant is changing.
. . .
One of the biggest changes found by the survey is
an increased need for a background in technology. And that background goes
beyond the ability to use computerized spreadsheets for record keeping.
The survey found that accounting and information
technology departments are working closer together than ever to implement
computerized compliance systems and to track potential fraud.
. . .
While workers with a general accounting knowledge
and background are still the most needed, Robert Half also predicts demand
for specialized accounting roles will continue to develop.
Among those specialized jobs are financial
analysts, internal auditors and forensic accountants.
Accountants with a background in international
Continued in article
Bob Jensen's threads on careers are at
New XBRL Blog
October 9, 2005 message from Gerald Trites
Since you've shown an interest in my blogging
efforts, I thought I'd let you know I started a blog on XBRL. I know there
are a few others out there, but I am doing a lot of research on XBRL right
now, and thought I'd run across some sources of interest to researchers.
Since I just started it, there's not much there right now, but it will grow
quickly. the ref is at
Hope all is well. Sorry we didn't get to have a
chat in SF.
Gerald D Trites, CA*CISA/IT, FCA
PH 902-867-5410 Cell 416-602-3931
Bob Jensen's threads on XBRL are at
October 12, 2005 message from David Kroenke
Please forgive my sending you a form email I wish to announce the
publication of a new blog devoted to teaching of the introductory MIS
class, and this is the most expeditious way I know to do it.
The goal of the blog is to support the community of professors who
teach the MIS class. I understand there are almost 2000 of us
nationally, but unfortunately, we have little opportunity to share
ideas, trade experiences, express frustrations, and help each other in
additional ways. I hope this blog can help to connect us.
The blog is located at
. The tab About the blog says more about the blog's goals and the tab
Invitation asks for your thoughts and ideas. The MISsed Opportunity, in
the Favorites section, documents some of my thoughts about the current
state of this class. Also, there is some good news this week for
bridge-playing IS teachers!
Please stop by.
Tax sheltering is one field in which two people can do exactly the same
thing and only one is accused of a felony
The recent indictment of some KPMG partners makes for
very interesting reading. In the months leading up to it (and the now-rumored
indictment of other tax advisors on similar grounds), numerous news stories
suggested the KPMG accountants had somehow knowingly participated in tax fraud
by creating fake losses for wealthy clients. Whether or not this proves true,
the indictment makes no such allegation. While the accountants and their clients
may have done some bad things, the notion that their behavior is criminal, and
even sufficiently criminal to threaten the very existence of this major firm and
its thousands of jobs, casts doubt on the fairness and judgment with which the
federal prosecutors have exercised their discretion. Why did they do so in this
case? Probably for the simple reason that they are -- quite properly -- offended
by the proliferation of newfangled and economically questionable tax shelters,
yet at the same time exasperated that Congress
shows no interest in legislating these shelters out of existence or enacting a
clear "business purpose" requirement, in spite
of repeated requests from the Internal Revenue Service. The prosecutors seem to
be venting their frustration over this failure to act by fashioning felony
charges out of ethereal legal material.
Robert Weisberg and David Mills, "A Very Strange Indictment," The Wall Street
Journal, October 12, 2005; Page A16 ---
Jensen Comment: Only in your wildest dreams would the U.S. Congress, in
the presence of corporate lobbying, show any interest in legislating these
shelters out of existence or enacting a clear "business purpose" requirement.
529 College Savings Plans Post Mediocre Returns
In an effort to prepare for the college costs and take
advantage of potential tax savings, many American families are enrolling in
state-sponsored prepaid tuition and college savings 529 plans. But 529 plans
have not performed well in many states due to lackluster investment returns and
relatively high fees, the LA Times reports. The most successful of California’s
Golden State Scholarshare funds has been the guaranteed option – much like a
savings account – which has paid 4.29 percent per year for five years. Other
Scholarshare funds have had returns ranging from a high of 1.8 percent to a low
of negative 3.68 percent, LA Times reports. Ohio will introduce CD’s as an
investment in their 529 College Savings plans, with varying terms, up to 10 and
12 years, according to the Wall Street Journal. Jacqueline Williams, executive
director of the Ohio Tuition Trust Authority, says that the CDs are designed to
for parents with young children. They will offer “safety, security and (Federal
Deposit Insurance Company (FDIC) backing, she told the Journal. Other states are
considering similar investment offerings.
"529 College Savings Plans Post Mediocre Returns," AccountingWeb, October
7, 2005 ---
From The Washington Post on October 12, 2005
China says it will develop its own
next-generation DVD standard to break the monopoly of foreign companies and
avoid paying heavy licensing fees. Approximately what percentage of DVD players
are made there?
From The Washington Post on October 13, 2005
Three search engines now allow cell phone users
to text-message queries from their cell phones. Which of the following is not
one of the three?
Did you know that Yahoo rents Google's search engine?
But for Yahoo, having a research operation that helps
to invent emerging information tools has never been a major priority. Indeed,
until two years ago, the company didn't even have its own search engine -- it
rented Google's. But now that's changing -- and fast. In July, Yahoo hired
Prabhakar Raghavan, the former chief technology officer at enterprise-search
provider Verity, to lead its 40-person research division in the company's
Sunnyvale, CA headquarters. Raghavan, who is also editor-in-chief of the Journal
of the Association for Computing Machinery, has proceeded to put Yahoo Research
on the map by wooing top researchers, such as Andrew Tomkins, a text-analytics
expert so well-regarded for his work on Web buzz-tracking at IBM's Almaden
Research Center that Fortune magazine called him one of IBM's "golden geeks."
More hiring announcements are imminent, too, according to Usama Fayyad, Yahoo's
senior vice president and chief data officer.
Wade Roush, "Yahoo Aims To Be Research Powerhouse," MIT's Technology Review,
October 12, 2005 ---
Looks like Firefox has had its 15 minutes of
The open-source browser that seemed so promising as it
snatched market share from Microsoft's Internet Explorers over the last year has
already hit a wall. That's according to the
latest numbers from Web analysis firm Net
Applications. Since topping out at 8.71 percent in June, Mozilla's Firefox has
been slowly losing ground, falling to 7.55 percent in September. Without help
from the outside, Firefox is expected to remain between 7 percent and 8 percent,
while IE is expected to stay at around 86 percent.
Internetweek Newsletter, October 11, 2005
Do you suppose? Say it isn't true? Blogging for Therapy
The Internet is now teeming with some 15 million blogs.
Although the medium first drew mainstream attention with commentary on
high-profile events such as the presidential election, many now use it to
chronicle intensely personal experiences, venting confessions in front of
millions of strangers who can write back.
Yuki Noguchi. "Cyber-Catharsis: Bloggers Use Web Sites as Therapy," The
Washington Post, October 12, 2005 ---
AmeriCorps—A National Corps of Capable, Committed Individuals
AmeriCorps is a network of local, state, and
national service programs that connects more than 70,000 Americans each year
in intensive service to meet our country’s critical needs in education,
public safety, health, and the environment.
AmeriCorps members serve with more than 3,000
nonprofits, public agencies, and faith-based and community organizations.
Since 1994, more than 400,000 men and women have provided needed assistance
to millions of Americans across the nation through their AmeriCorps service.
AmeriCorps opens the door for citizens to serve in
a variety of ways. Through their direct service and the volunteers they
mobilize, AmeriCorps members address critical needs in communities
throughout America, including
- Tutoring and mentoring disadvantaged youth
- Fighting illiteracy
- Improving health services
- Building affordable housing
- Teaching computer skills
- Cleaning parks and streams
- Managing or operating after-school programs
- Helping communities respond to disasters
- Building organizational capacity
What accounts for the fact that the models agreed with each other with
Katrina more than for Rita?
"Predicting Rita," by David Talbot, MIT's Technology Review, September
28, 2005 ---
TR: What accounts for the fact that the
models agreed with each other with Katrina more than for Rita?
AM: The differing levels of atmospheric
stability. A hurricane can become trapped between two high pressure systems,
which creates a stable "chute." An unstable situation is that there's no
"chute" -- there's just kind of an open area without high pressure systems,
and the hurricane can go any which direction it wants. Katrina was more
trapped -- it had to go the direction it was going. Rita depended on pretty
small differences in the pressure around it as to which way it would go.
Continued in article
Flashback: Flooding forecast on July 16, 2005
The National Weather Service is predicting as many as 4 major hurricanes and 15
tropical storms this hurricane season, and that's grim news for Louisiana, which
already is sinking fast. The locals here will tell you: Land that they played on
as children is quickly disappearing. "We could see it, physically," Don Griffin
said. "It looked like land sinking and the water's rising." The reasons the land
is sinking are many. This is river delta, and deltas sink naturally.
"Southern Louisiana Keeps Sinking," ABC News,
July 16, 2003 ---
SEC Accuses Two Deloitte Auditors in Adelphia Fraud
Federal regulators on Friday
accused two Deloitte & Touche accountants who audited the
books of cable TV operator Adelphia Communications Corp. of
aiding the company's accounting fraud in 2000. The
Securities and Exchange Commission announced the
administrative action against auditors Gregory Dearlove and
William Caswell for alleged improper professional conduct.
Caswell agreed to settle the case by being barred for at
least two years from auditing a public company. He neither
admitted nor denied the allegations. The SEC is seeking an
injunction against Dearlove and restitution to investors,
with the case to be heard by an administrative law judge at
the agency. His attorney, Joseph Sedita, disputed the
allegations and said his client would contest them. Sedita
said that they had told the SEC lawyers, "You've got your
facts wrong, you've got your accounting wrong." Deloitte &
Touche, a Big Four accounting firm, in April agreed to pay
$50 million to settle the SEC's charges in relation to its
audit of Adelphia, which filed for bankruptcy protection in
2002 after founder John Rigas and others were accused of
using the company as their private piggy bank and cheating
investors out of millions. Rigas and his son, Timothy, were
convicted of conspiracy, bank fraud and securities fraud
last year. Also in April, Adelphia avoided criminal fraud
charges in a deal with the Justice Department in which the
company received $1.5 billion in cable television systems
and other assets from John Rigas and family members and
agreed to pay the government just under half that amount.
"SEC Accuses Two Deloitte Auditors in Adelphia Fraud."
SmartPros, October 3, 2005 ---
Bob Jensen's threads on the Adelphia fraud and other
legal woes of Deloitte and Touche are at
Esquire wikis article on Wikipedia
Wikipedia lets anyone create a new
article for the encyclopedia or edit an existing entry. As a
result, since it was started in 2001,
Wikipedia has grown to include
nearly 749,000 articles in English alone--countless numbers
of which have been edited by multiple members of the
community. (There are versions of Wikipedia in 109 other
languages as well.) The idea is that, despite the fact that
anyone can work on any article, Wikipedia's content is
self-cleaning because its community keeps a close eye on the
accuracy of articles and, in most cases, acts quickly to fix
errors that find their way into individual entries. It's the
same argument programmers make about open-source software:
Since everyone can see the source code, the community can
collectively rid the software of errors better than a few
developers at one company ever could.
Daniel Terdiman, "Esquire wikis article on Wikipedia,"
C|Net, September 29, 2005 ---
Once again the main Wikipedia site is at
It is becoming a popular site to begin with when searching the meaning of almost
any phrase like "classical music." If you have something to add to the
module, it's easy to write it in without leaving your browser (which is probably
Internet Explorer). You can even provide a link to an audio recording of
yourself singing in the shower (hopefully not with pictures).
"KPMG Used Its Own Tax Shelter," by Jonathan Weil, The Wall Street Journal,
October 14, 2005; Page C1 ---
Big Four accounting firm KPMG LLP wasn't just a
tax-shelter promoter. It also was a client.
Internal KPMG documents show the firm used one of
its own mass-marketed corporate-tax strategies to record a $34 million
deduction on its 2001 tax return, just months before the Internal Revenue
Service listed the strategy as an abusive tax-avoidance transaction.
The IRS added the strategy, called 401(k) Deduction
Acceleration Strategy, or "401kAccel," to its published list of abusive
transactions in June 2002. KPMG sold it to at least 143 companies, which
together "claimed undisclosed millions in accelerated tax deductions,"
according to a July 2002 court filing by the IRS in connection with its
probe into KPMG shelters.
While much of the news about tax avoidance has
focused on wealthy individuals, 401kAccel offers a rare look at a type of
questionable shelter that KPMG and other major accounting firms shopped to
big corporations. Other firms that once sold strategies similar to 401kAccel
include Deloitte & Touche LLP, PricewaterhouseCoopers LLP and Arthur
Andersen LLP. The IRS allowed companies, including KPMG, to avoid penalties
by unwinding the strategies voluntarily.
In a statement, KPMG said it "made full disclosure
of the 401kAccel transaction to the IRS on the firm's 2001 federal return,"
and "took the prescribed corrective measures immediately when the IRS listed
the transaction" as abusive.
Internal KPMG records from 1998 through 2002,
reviewed by The Wall Street Journal, show a variety of prominent companies
bought 401kAccel from KPMG. Among them: Circuit City Stores Inc., Allegheny
Energy Inc., Pulte Homes Inc., PetsMart Inc., Tenet Healthcare Corp. and the
U.S. unit of Mexican cement maker Cemex SA.
Circuit City Chief Financial Officer Michael Foss
said the electronics retailer, a KPMG audit client, used the strategy from
2000 to 2002 and later unwound it without penalty. "Multiple companies were
utilizing the strategy," he said.
Continued in article
Bob Jensen's threads on KPMG's legal woes are at
Online books and journals
University of Adelaide Library’s collection of Web books ---
Beowulf in Hypertext ---
Charles Baudelaire (1821 - 1867), and in particular to Les Fleurs du mal
(Flowers of Evil) ---
Poetry Connection ---
HAIKU for PEOPLE ---
Glossary of Hard Boiled Slang ---
Poetry Archive ---
Poets Corner ---
Arabian Nights by Sir Richard Francis Burton ---
The Beast In The Jungle - Henry James (1843 - 1916) ---
Bob Jensen's links to electronic books and journals are at
Cajun Academic Humor --- Louisiana Police Investigation
(about Texas Aggies, Cajuns, and New York Mafia)
This slide show with audio narration is by Professor David B. Boudreaux.
David is a noted Cajun storyteller and this audio slide show is very funny
The key buttons on the bottom are at Button 4 (Pause) and Button
The TLT-SWG home page and listserv links are at
From David Letterman (who ain't one)
Why accountants are important (forwarded by Milt Cohen)
The Journal of Accountancy - yup - we got one of them too, celebrating its
100th anniversary with the current issue. (no, the centerfold is not a
semi-completed form 1040).
Along with reflecting on the past century of public accounting there is a
list of 24 reasons why someone would want to be a CPA (or accountant). Some of
them are worth sharing, as follows. SO WITH APOLOGIZES TO DAVID LETTERMAN - WHO
- on 2nd thought doesn't NEED ANY APOLOGY:
1. We get to work the standard 70 hour week.
2. Our debits always equal are credits. (go explain that one)
3. Mom wanted us to be a rock star and this was our way to rebel.
4. The Red Sox wouldn't meet our salary demand.
5. All the free pencils we want.
6. In Scrabble, Accountant is worth 14 points while Doctor is worth only 9
and a Lawyer is 12. go figure!
7. We got to experience the five seasons, summer, winter, fall, spring & TAX!
8. A new IRS form gives us the chills - MANY TIMES A FEVER TOO.
9. No other profession offers April 16th as a paid holiday.
1O. Nobody gets an Academy Award (Oscar) until we say so.
Fraud Updates ---
For earlier editions of New Bookmark
s go to http://www.trinity.edu/rjensen/bookurl.htm
Archives of Tidbits: Tidbits Directory ---
Click here to search Bob Jensen's web site if you have key words to enter
--- Search Site.
For example if you want to know what Jensen documents have the term "Enron"
enter the phrase Jensen AND Enron. Another search engine that covers Trinity
and other universities is at
International Accounting News
(including the U.S.)
AccountingEducation.com and Double Entries ---
Upcoming international accounting
Thousands of journal abstracts ---
Deloitte's International Accounting News ---
Association of International Accountants ---
FASB --- http://www.fasb.org/
IASB --- http://www.fasb.org/
Trite's great set of links --- http://iago.stfx.ca/people/gtrites/Docs/bookmark.htm
Torian's Managerial Accounting Information Center --- http://www.informationforaccountants.com/
Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax:
210-999-8134 Email: firstname.lastname@example.org