| 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
|
Britain is for sale !
In Cowley, England, the site of the
world's oldest car-making factory, after
struggling for years under a number of
British owners, the auto plant was to
close in autumn of 2000. Crime was up.
Shops were boarded up. Then, German
auto giant BMW boosted its investment
in the plant. It announced that it would
build a contemporary version of the
classic British Mini car that the factory
had produced for decades. Today,
BMW has demand for more Minis that it
can produce. And Cowley is thriving.
In recent years, Britain's power and
water companies, heavy industry and
nearly all of its ports have been sold to
foreign companies. In 2006, a record
$203 billion-worth was sold. In 2005,
the U.K. received foreign direct
investment equal to 37% of its gross
domestic product--compared with 28%
in France, 18% in Germany and 13% in
the U.S. And now, as oil prices soar,
the cash rich Middle Eastern
governments are the big buyers of
Western industries while Dubai and
Qatar are said to be sitting on a cash
hoard of over a trillion dollars.
Inflation:
Cutting money in half
without damaging the paper.
Spruce Goose:
Over 60 years ago,
in November 1947, Howard Hughes
successfully test-flew a two-hundred ton
plywood airplane with a wing span
longer than a football field. He piloted
the craft over Long Beach Harbor in
California. Spruce Goose has been the
largest flying boat ever to actually fly.
Why do people say:
"It's always the
last place you look." Of course it is.
Why would you keep looking after you've
found it?
The Oval Office
at the White House:
Richard Nixon said it stifled creativity.
Gerald Ford said it was too "grand and
luxurious for some of the mundane
work" he did. Jimmy Carter preferred
one near his bedroom. And Ronald
Reagan felt it was too formal to be
relaxing.
For more of the Generalist,
please visit website
ARKCPACOM.
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theGeneralist,
a one-page monthly
publication of the accounting firm of
A. R. Kakhsaz Company, is in its 14th
year of providing information, presented
fairly and accurately, from sources we
can depend upon and trust.
Warren Buffet
(Part 5 of 5)
He doesn't carry a cell phone, nor has a
computer on his desk. His advice to
young people: (1) Money doesn't create
man, but it is the man who created the
money. (2) Live your life as simple as
you are. (3) Don't do what others say.
Just listen to them, but do what makes
you feel good. (4) Don't go on
brand-names. Wear those things in
which you feel comfortable. (5) Don't
waste your money on unnecessary
things. Spend on those which you really
need. After all it's your life. Why give
others the chance to rule your life?
It's not
what you wear, it is how you
take it off.
A growing number of
taxpayers
are
hiring someone else to prepare their
individual income tax returns. Here's
the percentage of individual income tax
returns, prepared by paid preparers:
2006 60 %
2000 53
1995 50
1990 48
1985 46
The number of prepares in the U.S. is
estimated to be in the range of 1.2
million to 1.6 million. Among them are
a small minority of highly trained
certified public accountants while at the
other end are storefronts staffed by
people with little or no training. A recent
report by the Government Accountability
Office suggests that many taxpayers
who rely on paid preparers may be
paying too much in taxes. Proposed
legislation now is aimed at bringing all
paid prepares under the IRS's
regulatory wing.
We see more in numbers
- than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkcpa.com
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