| A.
R. Kakhsaz Company
an accountancy corporation
Member
American Institute of
Certified Public Accountants
International associates:
Tavana & Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221
|
• As gasoline
prices soar, so do profits of oil companies. For the
second-quarter 2004, Shell reported a 54% jump in profit. Exxon
Mobil's profit climbed 39% to a record $5.8 billion. And Chevron
Texaco's profit more than doubled to $4.13 billion. Oil prices now
regularly top $40 a barrel, and reached as high as $45, appear to be
hindering U.S. economic expansion. Only 32,000 jobs were added in
July and that's the lowest for the year.
• On June 4, 2003, President
George W. Bush said:
"I had a
bilateral with the Crown Prince at the hotel after the sauna
bath."
• U.S. patent No. 6,625,582 was
issued for a technique that enables Social Security recipients to convert
a chunk of their future payments to current benefits. This patent is
among thousands of others that have been issued for financial and estate
planning strategies under the so-called business methods patent.
Patenting a tax strategy is no guarantee that the IRS will bless the
technique. Under the business methods patents there's a patent for a
method of perfecting a golf swing. And among many others, there's
one for crustless peanut-butter-and-jelly sandwiches.
• Economics of the nations
(part 2)
Traditional
economics:
You have two
cows.
You sell one and
buy a bull.
Your herd
multiplies and the economy grows.
You retire on
the income.
American
Economics:
You have two
cows.
You sell one and
force the other to produce the milk of four cows.
You profess
surprise when the cow drops dead.
You put the
blame on some nation with cows and naturally that nation will be a danger
to mankind.
You wage a war
to save the world and grab the cows.
• Big employer is watching: in their drive to
squeeze greater efficiency from staffers, a growing number of employers
are embracing sophisticated electronic tracking systems to ensure their
workers are at their desks and work stations when hey are suppose to be.
• For more of the Generalist, please visit our website
at ARKCPA.COM.
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• theGeneralist, a one-page monthly
publication of the accounting firm of A. R. Kakhsaz Company,
is in its ninth year of providing information, presented fairly and
accurately, from sources we can depend upon and trust.
• Republican National Convention begins on August 30, in
New York. For the 237 California delegates, the trip is to
have all the glitz and glamour one would expect when your governor
is Arnold Schwarzenegger. There will be a salute to
Schwarzenegger at the Tavern on the green hosted by the party and
another event at the Planet Hollywood restaurant. There are
rumors that some $5 million has been budgeted solely for the state
delegation's parties.
• West Nile virus killed the second person in
California. The 75-year-old man was a San Bernardino real
estate broker who upon arrival at the hospital in Redlands, was
diagnosed with reduced oxygen in blood, dehydration and
sepsis. West Nile is spread to humans through infected
mosquitoes. "You can't believe that a mosquito could do
that," said his wife.
• Learn a modern
Chinese phrase:
Small Horse....
"Tai Ni
Po Ni"
• U.S. businesses are, on average, increasing their
salary budgets by 3.5% for 2004. That's the same as last
year's forecast. Salary increases for 2005 are also expected
to be below 4%.
• Practicing surgery on soldiers: Military doctors, from
2000 through 2003, performed 496 breast enlargements and 1,361
liposuction surgeries on solders and their dependants.
• On July 29, 2003, President
George W. Bush said:
"Terrorists kill innocent life to
prevent peace from happening. The way to make sure peace
happens is for all of us to work to dismantle those who would like
to kill. Those are called terrorists."
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• We see more in numbers than just numbers…
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
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