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[News] Microsoft's Home State is Going Bankrupt While Microsoft Escapes Paying Tax

  • Subject: [News] Microsoft's Home State is Going Bankrupt While Microsoft Escapes Paying Tax
  • From: Roy Schestowitz <newsgroups@xxxxxxxxxxxxxxx>
  • Date: Fri, 08 Jan 2010 03:56:54 +0000
  • Followup-to: comp.os.linux.advocacy
  • Newsgroups: comp.os.linux.advocacy
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Washington State treasurer warns state will go broke if lawmakers don't act 

http://microsofttaxdodge.com/2010/01/washington-state-treasurer-warns-state-will-go-broke-if-lawmakers-dont-act.html

Treasurer warns state will go broke if lawmakers don't act

,----[ Quote ]
| Washington state government is in danger of 
| running out of money if the Legislature fails 
| to act quickly, state Treasurer Jim McIntire 
| says.
| 
| "With no improvement in the state's overall 
| cash position, the entire state treasury could 
| be depleted as soon as September 2010," 
| McIntire said in a letter sent to the governor 
| and legislative leaders last month.
`----

http://seattletimes.nwsource.com/html/localnews/2010725235_statebudget07m.html


Related:

SEC charges tech firm with $20 million fraud

,----[ Quote ]
| U.S. securities regulators charged virtual reality company 3001 AD
| on Tuesday with bilking $20 million from investors by fabricating
| plans for an initial public offering and falsely claiming support
| from tech giants Microsoft Corp (MSFT.O) and Apple Inc (AAPL.O).
`----

http://www.reuters.com/article/smallBusinessNews/idUSTRE58S5U820090929


Ex-Microsoft boss sentenced

http://seattlepi.nwsource.com/business/371393_msftcourt19.html


Former Microsoft Manager Gets 2 Years In Jail

http://news.portalit.net/fullnews_former-microsoft-manager-gets-2-years-in-jail_1427.html


SEC bans short-selling of 799 financial stocks

,----[ Quote ]
| Short selling involves borrowing a company's shares, selling them, and
| pocketing the difference when the stock falls. It is a legitimate method of
| trading -- it can make markets more efficient and bring in more capital --
| but the government argues that it has widened the scope of the recent
| financial crisis and contributed to the collapsing values of investment and
| commercial bank stocks in particular.
`----

http://www.businessweek.com/ap/financialnews/D939RL7O0.htm


SEC Foresees Rise in Fraud Cases

,----[ Quote ]
| Laying out his priorities, the new enforcement chief for the Securities and
| Exchange Commission in San Francisco said Thursday he expects an upswing in
| fraud cases against public companies.
`----

http://www.law.com/jsp/article.jsp?id=1202424479239


Microsoft's Accounting Under Scrutiny

,----[ Quote ]
| The company has still not made enough information public to provide analysts
| with detailed information on the profitability of its MSN Internet business,
| Mr. Galvin said, adding, ''There's still room for them to obfuscate.''
`----

http://query.nytimes.com/gst/fullpage.html?res=9A03E1DC173DF932A35754C0A96F958260


Microsoft - Undeserving of Libertarian Praise

,----[ Quote ]
| One strategy that Microsoft has employed in the past is paying for the
| silence of people and companies. Charles Pancerzewski, formerly Microsoft's
| chief auditor, became aware of Microsoft's practice of carrying earnings from
| one accounting period into another, known as "managing earnings". This
| practice smoothes reported revenue streams, increases share value, and
| misleads employees and shareholders. In addition to being unethical, it's
| also illegal under U.S. Securities Law and violates Generally Accepted
| Accounting Practices (Fink). Mr. Pancerzewski claims he was forced to retire,
| for raising the issue of deferred earnings with Microsoft executives, thereby
| making plausible deniability more difficult for said executives. He has since
| sued Microsoft, who responded by settling out of court, but also sealing the
| records to prevent public disclosure (Fink).
`----

http://www.kuro5hin.org/story/2002/8/20/11034/3908


Microsoft Agrees To Refrain From Accounting Violations in SEC Settlement

,----[ Quote ]
| Microsoft has agreed to refrain from accounting violations to settle federal
| regulators' allegations that it misrepresented its financial performance, the
| government announced Monday.
|
| Under a settlement with the Securities and Exchange Commission, the software
| giant neither admitted to nor denied wrongdoing. No fine was imposed.
|
| The SEC alleged that Microsoft's accounting practices from July 1994 through
| June 1998 caused its income to be substantially misstated.
`----

http://www.crn.com/it-channel/18819490


"Microsoft Tax," MSN Enters the Black Hole, New Names for NT

,----[ Quote ]
| The lawsuit, filed last year by Mukilteo City Councilman Charles
| Pancerzewski, alleges that he was forced to resign as Microsoft's general
| auditor in January 1996 after working for the company's internal auditing
| department for more than four years. The suit claims that a "significantly
| younger man" with little auditing experience was picked to replace
| Pancerzewski, who was finally forced out because he discovered Microsoft
| might have been violating government regulations. Once Pancerzewski left the
| company he was replaced by the younger man, who his attorneys believe
| was "less prone to raise issues of possible legal improprieties which could
| threaten or embarrass Microsoft or its management.
`----

http://www.msboycott.com/news/98_06_22.shtml


SEC Investigating Microsoft Practices -- Earnings Manipulated, Former Employee
Contends

,----[  Quote]
| "The CFO to whom Charlie was reporting his concerns about illegality was the
| biggest advocate for the very illegality that was going on," Vial argued in
| court a year ago.
`----

http://community.seattletimes.nwsource.com/archive/?date=19990701&slug=2969514


Microfraud?

,----[ Quote ]
| THE ALLEGATIONS WERE shocking: For years, Microsoft has systematically
| distorted its profit figures in an effort to consistently beat Wall Street
| expectations and keep its stock price steadily rising. The false reports
| would violate SEC regulations, and amount to outright fraud.
|
| More shocking was the source of the allegations: Microsoft's chief of
| internal audits, Charlie Pancerzewski, who reported directly to the company's
| chief financial officer.
|
| Most shocking of all was what happened to Pancerzewski when he reported the
| suspicious bookkeeping to his supervisors, Microsoft CFO Mike Brown and chief
| operating officer Bob Herbold, in the spring of 1995. Soon afterward,
| Pancerzewskiâwho for nearly five years had received stellar performance
| evaluationsâreceived his first-ever unsatisfactory one, and was eventually
| forced to resign.
|
| Two months ago, Microsoft quietly settled a lawsuit containing these
| allegations, filed in 1997 by Pancerzewski under the Whistleblowers
| Protection Act. The auditor claimed he was wrongfully terminated after
| telling his supervisors that Microsoft might be breaking securities and tax
| laws. The lawsuit made its tortuous way through several rounds of pretrial
| motions until last fall, when US District Judge Carolyn Dimmick denied
| Microsoft's final plea for summary judgment, finding credible evidence that
| Microsoft may have violated SEC rules, as Pancerzewski alleged. Shortly
| thereafter, Microsoft and Pancerzewski settled out of court. Terms of the
| agreement were sealed, but one source who claims familiarity with the case
| says that Microsoft paid Pancerzewski $4 million.
`----

http://web.archive.org/web/20070308032343rn_2/www.seattleweekly.com/1999-01-06/news/microfraud.php


Ecuador Tax Agency Closes Microsoft Branch Offices For 7 Days

,----[ Quote ]
| "We have twice requested balances, payment reports and complete tax
| information, but the company hasn't given it to us, so in accordance with our
| laws we have proceeded with the closure," the SRI official in charge of the
| proceeding said.
`----

http://money.cnn.com/news/newsfeeds/articles/djf500/200710041610DOWJONESDJONLINE000810_FORTUNE5.htm


Microsoft Office raid in Hungary

,----[ Quote ]
| "Such behavior could lead to the exclusion of competitive products from
| the market and violate European Union rules, according to the authority
| known as the GVH."
`----

http://www.forbes.com/feeds/ap/2007/07/26/ap3957835.html


Microsoft exec dumped stock prior to Red Ring announcement

,----[ Quote ]
| To make matters more murky, the sales were not registered with the Securities
| and Exchange Commission within the mandatory two days of the transaction, a
| result of an alleged "administrative error." Microsoft has since remedied the
| issue by following the "procedures required of late-filers."
`----

http://arstechnica.com/journals/thumbs.ars/2007/08/14/microsoft-exec-dumped-stocks-prior-to-red-ring-addresment


Microsoft's Bach sold more stock before Xbox news

,----[ Quote ]
| Microsoft Corp. executive Robbie Bach sold $3 million more in company stock
| during the period leading up to an announcement about a costly flaw in its
| Xbox video game console than previously reported, according to a filing
| Monday with the Securities and Exchange Commission.
`----

http://www.marketwatch.com/news/story/microsofts-bach-sold-additional-stock/story.aspx?guid=%7BBECA3A50-EF33-4161-A111-A43BDC8B0462%7D&siteid=yhoof


Insider Trading Hasn't Affect Microsoft Stock - Yet

,----[ Quote ]
| MarketWatch.com reports that Robbie Bach, president of Microsoft's
| Entertainment and Devices division, sold $6.2 million of Microsoft
| stock just prior to announcing that Microsoft was going to have to
| extend XBox 360 warranties to three years because of extensive
| failures. The filings note that this was not part of any
| scheduled diversification or selling program; this was a
| conscious, unscheduled sale by the guy in charge of releasing
| news that could affect the value of Microsoft stock.
|
| [...]
|
| Insider trading is a very serious violation of the law; just
| ask Martha Stewart, who served five months in prison for
| avoiding losses of $43,000 through trades that just had suspicious
| timing (no insider trading was actually proven). This is $6.3
| million that went straight into Robbie Bach's pocket.
`----

http://biz.yahoo.com/seekingalpha/070713/40947_id.html?.v=1
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