Estimate of Economic Losses Now Up to $50 Billion

The New York Times | 02 November 2012
Economic damages inflicted by Hurricane Sandy could reach $50 billion, according to new estimates that are more than double a previous forecast.

Bord Gais Energy Under the Hammer Next Year | 21 September 2012
The auction process to sell state-owned Bord Gais Energy (BGE) will kick off in the first quarter of next year, the Irish Independent has learned.

CalPERS Sues Compton for Pension, Health Contributions

Pensions & Investments | 30 October 2012
CalPERS has filed suit against the city of Compton, Calif., charging it failed to make required pension payments of almost $2.7 million for retirement and health benefits.

Study: Confidence in Due Diligence Lags as Corruption Risk in Emerging Markets Rise

Compliance Week | 29 October 2012
As companies continue to expand their activities in emerging markets, concerns continue to rise over compliance and integrity-related risks in these locations.

Disney Buys Lucasfilm Ltd., Announces Star Wars: Episode 7 for 2015, Now Owns All the Nerds

YouTube | 30 October 2012

Greek Journalist Arrested for Publishing List of Swiss Bank Account Holders
Guardian | 29 October 2012
A Greek journalist has been arrested for publishing the names of wealthy Greek citizens with deposits totalling €2bn (£ in Swiss bank accounts.

Analysis: Fiscal cliff Could Hit Economy Harder Than Many Expect
Reuters | 28 October 2012
The United States runs the risk of a recession far deeper than many investors and policymakers may think if lawmakers fail to avert looming tax hikes and cuts to public spending.

How States Can Improve Sales and Use Tax Collection
AICPA | 25 October 2012

States have faced a long-standing challenge and frustration in collecting sales and use tax on sales made by remote vendors.

Turkish Banks Go for Gold to Lure $302 Billion Hoard
Bloomberg | 29 October 2012

Deniz Kalkan, a 32-year-old housewife in Istanbul, is ready to move her gold.

What Happens When a Lame Duck Meets a Fiscal Cliff?
AICPA | 29 October 2012
Last year, I wrote a blog about the congressional “super committee” created by the Budget Control Act of 2011 to deal with government’s immense debt and the deep deficit hole in which we find ourselves.

Brazilian Student Sells Her Virginity for $780,000 Online
Telegraph | 25 October 2012
[CAF Note: Hyperinflation and a deterioration in Japanese credit means you would rather pay $780,000 for a virgin than hold Japanese sovereign debt]
Catarina Migliorini, 20, was the subject of 15 bids, with a Japanese man named only as Natsu winning on Wednesday night, Australian media reported.

U.S. Can’t Produce Documents for $7 Billion Iraq Money It Spent Since 2003
Press TV | 27 October 2012
A recent US government investigation has found that American army cannot present authentic documents for billions of dollars of Iraqi money it claims it has spent during occupation of the oil-rich Arab state.

Will SCOTUS Make it Illegal to Resell Your Stuff?
RSN | 25 October 2012
A little-known case “tucked into the U.S. Supreme Court’s agenda this fall could upend your ability to resell everything from your grandmother’s antique furniture to your iPhone 4.”