3/16/2023 0 Comments Cme mathleteAfter quite a bit of yelling and few instances of people stomping around the room like 3 year-olds, we’ve got something we’re all (more or less) happy with. We’ve been sporting our current layout for quite awhile and the feeling amongst us (and many of you that participated in our fall survey) was that we need to update things a bit. Tomorrow, barring any unforeseen sabotage by internal detractors, we’ll be launching a redesigned look and feel for Going Concern. With that in mind, I’m here to share with you, first, a surprise. It’s the Holiday Season and that means two things: 1) Big Surprises 2) Big Disappointments. They’re just keeping their heads about it. In other words, if all things were equal, KPMG would probably be the largest firm. There is still a big gap to PwC and Deloitte, which have been buying large consulting practices in the systems implementation area.” It will also make for the second straight year of a bumper crop of Omaha Steaks for the employees at the firm.īut despite earthquakes and actual hard numbers, Mike is calling it like he sees it: ANYWAY, for those of you scoring at home, the $22.7 bil puts the House of Klynveld slightly behind E&Y who racked up $22.9 billion for FY ’11. Since there was enormous death and destruction, I guess everyone at the firm will let this go but they’re trying really hard not to throw out some pro forma numbers just for the sake of argument. We had really good growth in the Americas and really good growth in tax,” he said yesterday.įUCKING JAPAN AND YOUR EPIC NATURAL DISASTER! You just cost one of the premier professional services firms on EARTH the chance to leave a rival in the dust. “If we had not had the Japanese earthquake, I suspect we would have gone past Ernst & Young. The numbers are due to be released officially later this month. New KPMG global chairman Michael Andrew revealed to The Weekend Australian yesterday that the company had recorded a 10.1 per cent increase in revenue in the past financial year, to $22.7 billion. We’re still waiting for the official revenue numbers (I’m guessing they’ll be out next week) but Drew kinda spilled the beans already: New KPMG Global Chairman Michael Andrew was recently interviewed by The Australian and it sounds like KPMG had a pretty kickass fiscal 2011. Not sure how we missed this story but thanks to the random commenter who brought it to our attention. Republicans paint themselves into a tax-cut corner In other words: Whose shorties are snagged now? Already more than 40 congressional Republicans have taken steps to distance themselves from Norquist, who scowls at the mere mention of what could have been his, but is now Obama’s, very popular tax cut. This is a marketing fiasco for Republicans to rival the Ford Edsel and New Coke. And he gets to tell small business owners that, but for Republicans, their taxes would have gone down too. Obama can even say that if Republicans had had their way, working people’s taxes would have gone up while taxes on billionaires would have gone down. Having outsmarted Norquist, Obama gets to run for a second term as the champion of at least a $100 billion tax cut. The reason that Republicans aren’t so hot on the payroll tax cut is that it’s “temporary.” They’d rather see “permanent” tax cuts enacted, although those “permanent” tax cuts are never “permanent.” The “permanent” Bush tax cuts, for example, had to be “ extended” last year because they were about to “expire” which basically makes them “temporary.” The payroll tax cut was originally enacted last year with the Bush tax cuts but as Paul Ryan says, it’s supposed to be like a holiday, which is to say, “We lived through it and we’ll just move on with our lives and never to speak of it again.” DCJ writes that this means Obama has beat the Republicans at their own game: That has left Republican leaders no choice but to silently cry uncle and agree to the president’s request to extend and possibly expand the payroll tax cut. Umerous opinion polls show overwhelming public support for continuing tax cuts for workers and for raising taxes on millionaires. Ruined holidays aside, DCJ points out that if the Republicans shoot this down, they do so at the behest of what seems to be a very popular idea: The very proposal that could make Obama the biggest Grinch of 2011. Granddaddy of tax gazetteers, David Cay Johnston, is poking at Grover Norquist again, this time over the quagmire that the Republicans find themselves in over President Obama’s payroll tax cut proposal.
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