CalCPA Daily Clips

CalCPA Daily Clips is a great member service that allows you to stay informed, while saving you
valuable time.

Each weekday morning, CalCPA scours major media sources and e-mails members headlines
and links to news and information that is vital to California businesses.

Daily Clips is a benefit of membership. If you are not a member, join CalCPA today to begin
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Sample issue:


CalCPA Daily Clips
Monday, Nov. 14, 2005

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CALIFORNIA
Massive State Bond Possible
Coming off a losing campaign to curb state spending, Gov. Arnold Schwarzenegger is
promoting a statewide public works program that may be financed by a bond sale so
large it would dwarf previous state borrowings. http://www.latimes.com/news/local/la-me-sacto14nov14,1,3112367.story?coll=la-
headlines-california or Los Angeles Times: http://makeashorterlink.com/?Z6304382C

REGULATORY
SEC's Cox Defends Dual Regulators in Some Cases
Securities and Exchange Commission Chairman Christopher Cox on Friday said he's
open to the idea of combining some regulatory units, but stopped short of endorsing the
idea saying that some duplication is necessary.
http://accounting.smartpros.com/x50633.xml

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SEC Looking at Backdated Options Grants
Backdating is not illegal, but it does boost gains and could signal disclosure problems.
http://www.cfo.com/article.cfm/5157183/c_5157587?f=home_todayinfinance

BUSINESS
Credit Card Hoppers, Bad Debts Hurt Issuer Margins-Report
Many credit card issuers are seeing their profit margins shrink -a trend that could push
them to introduce annual fees, says an annual report on the industry by
PriceWaterhouseCoopers
released Monday.
http://online.wsj.com/article/BT-CO-20051113-002890.html?mod=INDUSTRY

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Insurers turning to 'consumer-driven' care to curb health costs The future of health
coverage may look more like the Home Shopping Network than "E.R." A fast-growing
trend known as consumer-driven health care aims to curb the soaring cost of health
insurance by offering tailor-made coverage and increasing deductibles to make patients
choosier about doctors, drugs and hospitals. http://www.mercurynews.com/mld/
mercurynews/news/local/states/california/northern_california/13164315.htm

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Fast-Growth Companies Undaunted by Katrina, PwC Finds
Hurricane Katrina dampened optimism about the domestic economy, but did not
negatively impact goals and expectations of the nation's fastest-growing private
companies. Despite tumultuous business conditions, fast-growth CEOs are expecting
solid results. Surveyed CEOs continue to project more-robust revenue growth, hiring,
and investments than a year ago. http://accounting.smartpros.com/x50605.xml

PERSONAL FINANCE
Card-carrying kids
The tricycle and training-wheel set are joining the clamor for what has become the winter
holiday's perennial top seller, and their parents are listening.
http://www.sacbee.com/content/business/story/13849018p-14688972c.html

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Six Months of Emergency Cash? Get Real.
http://online.wsj.com/article/SB113184595155495825.html?mod=COLUMN

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Lynn O'Shaughnessy: New Roth 401(k) looks dandy, but few can play
http://www.signonsandiego.com/news/business/shaughnessy/20051113-9999-
1b13lynn.htmlor San Diego Union-Tribune: http://makeashorterlink.com/?Z3EF2272C

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When it comes to numbers about ID theft, beware the hype
http://www.signonsandiego.com/news/nation/20051113-0923-identitytheft-numbers.html
or San Diego Union-Tribune: http://makeashorterlink.com/?Y5002582C

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Judges' Inaction, Inattention Leave Many Seniors at Risk http://www.latimes.com/news/local/la-me-conserve14nov14,1,428975.story?coll=la-
headlines-california
or Los Angeles Times: http://makeashorterlink.com/?B2501582C

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A plan you can stick to is essential when paying off debt http://www.ocregister.com/ocregister/money/moneysmarts/article_765159.php
or Orange County Register: http://makeashorterlink.com/?M1901582C

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Thinking ahead on tuition
To help parents -- and generous grandparents -- cope with the soaring cost of higher
education, a consortium of private colleges is offering a savings plan that guarantees
tomorrow's tuition at slightly less than today's rates. http://sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2005/11/13/BUGM8FMGB31.
DTL or San Francisco Chronicle: http://makeashorterlink.com/?G1122182C

TAX
GAO: Challenges Remain in IRS Financial Controls
http://www.webcpa.com/article.cfm?articleid=16238

EDITORIAL
Dan Walters: As status quo remains intact, so does chronic budget gap
When California voters rejected, by a strong 3-2 majority, Gov. Arnold Schwarzenegger's
budget reform measure last week, it left the fiscal status quo intact -- and that means that
the state's deficit-ridden budget continues to gush red ink. http://www.sacbee.com/content/politics/story/13858204p-14697995c.html

CLASSIFIEDS
Ready. Aim. Hire! Target your job posting /classifieds

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Find your ideal CPA career
/classifieds


The following publications require you to register at their sites:
San Jose Mercury News, http://www.mercurynews.com
Los Angeles Times, http://www.latimes.com
New York Times, http://www.nytimes.com
Orange County Register, http://www.ocregister.com

Paid subscription sites:
The Wall Street Journal, http://www.wsj.com