Shipping Industry Benefits from Recent Tax Changes
its continuing importance, the shipping industry has lost
most of the prestige it held in this country. One reason
is that although several U.S. shipping companies are publicly
traded, the nation is less well represented in international
shipping than in other, comparable global industries.
Fixing the Income Tax: Transparency and Simplicity
The federal income tax has always been an area of public
policy where the CPA profession can make a valuable contribution.
Last year, during his term as NYSSCPA president, John Kearney
appointed David A. Lifson to head a Committee on Practical
Reform of the Tax System to discuss federal tax policy from
a “big picture” perspective and to make recommendations
to radically change the tax code. Full
on the NYSE and the ‘Grasso Affair’
though the recent events at the New York Stock Exchange
(NYSE) surrounding the departure of Chairman Richard Grasso
raised the possibility of important reforms, the current
and proposed structural changes within the exchange will
be insufficient to reform the institution’s governance.
Notable financial disasters like Enron and WorldCom point
to systemic problems in U.S. financial markets. Full