Personal Finance Info

This blog will contain information about personal financial planning items of interest to CPA advisors and others. It also has information on Israel, public affairs, culture and other things I care about.

Name:
Location: United States

I live with my husband and our spoiled dogs—an English Springer Spaniel, Sasha and an English Setter, Alley in Westfield, NJ.

Wednesday, July 28, 2004

A Look Back At Nuremberg

Not a big fan of court TV, but it seems that they do some shows that are worth the time. I will need to put some time in to see and read the files on this site....

International Military Tribunal has a website with the THE NUREMBERG WAR-CRIMES TRIAL it has pictures, transcripts and its the real deal.

The steven spielberg film archive is a fabulous site-- you can see so many films about the Jewish world. It contains so much history about Jews around the world.

Film "America and the Holocaust"

Yesterday was Fay Leibowitz's funeral and I spent some quality time with Joan and Eugene. Eugene is a big supporter of the firm America and the Holocast. I had heard bits and pieces of the story and been somewhat aware of the problem that American Jews were having in dealing with what was happening in Europe. I also me people that told me some stories. But the transcripts on this site are worth spending hours reading. Here is what John Pehle says on: The Executive Order

Looking back at the Board, I recognized that it was too late when it was established and the resources available were too small to deal effectively with the problem. But we were able to change the policy of the United States, and we were able to help the private agencies, and we were able to change the moral position of the United States in this area.


During the Casablanca Conference in January 1943, Roosevelt spoke with the French resident general at Rabat, Morocco, about postwar independence and the Jewish immigrants in North America. Roosevelt argued that

...the number of Jews engaged in the practice of the professions (law, medicine, etc.) should be definitely limited to the percentage that the Jewish population in North Africa bears to the whole of the North African population.... [T]his plan would further eliminate the specific and understandable complaints which the Germans bore towards the Jews in Germany, namely, that while they represented a small part of the population, over 50 percent of the lawyers, doctors, schoolteachers, college professors, etc., in Germany were Jews.


This is from Manfred Jonas, Harold D. Langley, and Francis L. Lowenheim, eds., Roosevelt and Churchill: Their Secret Correspondence, New York: E.P. Dutton & Co., Saturday Review Press, 1975, p. 308. This quote is according to a memorandum of a conversation prepared by Captain John L. McCrae, Roosevelt's naval aide.

This website is true, disturbing and required reading now.


Monday, July 26, 2004

9-11 Commission puts out its report.

I haven't had time to read all of the 9/11 report. Seen a few talking heads talk about the report. I took a quick look at the executive summary.. the first 34 pages. It boils down to: "The policy challenges were linked to this failure of imagination....To date, we have not been able to determine the origin of the money used for the 9/11 attacks. Al Qaeda had many sources of funding and a pre-9/11 annual budget estimated at $30 million. If a particular source of funds had dried up, al Qaeda could easily have found enough money elsewhere to fund the attack."

To the bottom line question: Are We Safer? read the following:
Since 9/11, the United States and its allies have killed or captured a majority of al Qaeda’s leadership; toppled the Taliban, which gave al Qaeda sanctuary in Afghanistan; and severely damaged the organization.Yet terrorist attacks continue.
Even as we have thwarted attacks, nearly everyone expects they will come. How can this be? The problem is that al Qaeda represents an ideological movement, not a finite group of people. It initiates and inspires, even if it no longer directs. In this way it has transformed itself into a decentralized force. Bin Ladin may be limited in his ability to organize major attacks from his hideouts.Yet killing or capturing him, while extremely important, would not end terror. His message of inspiration to a new generation of terrorists would continue. Because of offensive actions against al Qaeda since 9/11, and defensive actions to improve homeland security, we believe we are safer today. But we are not safe.We therefore make the following recommendations that we believe can make America safer and more secure.


Sadly, Steve Emerson and other terrorism experts were right and the facts are that we can't win them all. I hope we know who our enemy is -- I don't know that we know. While the report writers are looking forward to a national debate on the merits of what they have recommended, it is our duty as Americans to make sure we participate in that debate. We may not know what the best policy is but we can know the difference between some bad and good ideas and we must stay involved.

Lance Armstrong gets his sixth consecutive Tour de France win. Look at some PHOTOS: Best of the Tour de France.

He did a great job-- surviving cancer, winning a few races, getting Sheryl Crow as a girlfriend.

Thursday, July 22, 2004

Martha Stewart Sentenced To Prison

This is a new format.  I have been offline for a few days and this seems to be good.

Thursday, July 15, 2004

Kushner should be ashamed. His parents are turning over in their graves. His mom just died and good that she is not seeing all fo this. Money can really split a family apart and make people doe some strange things.

Public Trust in New Jersey is today's editorial in the NY Times.

This was front page news. And it was front page in the Post and star ledger. Is it because of Kushner and his problems or his connection to the powerful democrats-- Bill, Frank, Corzine and the Gov? The truth will come out and it will be ugly any way it falls.

http://www.nytimes.com/2004/07/15/opinion/15THU4.html

Lurid Charges Against Donor Add to Worries of a Troubled Governor

Democratic Donor Is Known for Short Temper and Big Heart

This is not good news for anyone. He was an active person-- and they are seekign to distroy his. But is part of the problem? Will we ever know? I hope ti works out okay.

Been out of touch with the blog, but saw some writing from BENJAMIN NETANYAHU that you need to read. NY Times op ed on Tuesday, July 13, 2004-- Why Israel Needs a Fence
Here is what Bibi says and everyone forgets:

"First, Israel is not building the fence on territory that under international law can be properly called "Palestinian land." The fence is being built in disputed territories that Israel won in a defensive war in 1967 from a Jordanian occupation that was never recognized by the international community. Israel and the Palestinians both claim ownership of this land. According to Security Council Resolution 242, this dispute is to be resolved by a negotiated peace that provides Israel with secure and recognized boundaries."

People are being killed and the fense is a step in protecting the people. Back in the old days the Palestinians shoudl have said that they wanted what was discussed, but they want the entire piece that means they don't want to recognize any space or place from Israel. That is why they are waiting....

The Sir Elton John concert last night at radio City was the best. I have seen Elton since I was in High School. No Joke. He talks about his stat in 1970. I know I went in 1973 and also during college.

He played piano and sang for over 2 hours... Accompanying him: His band and -- the Julliard Orchestra and the Royal Academy Orch from London. The voices joining him--three different choruses from Brooklyn. He played the older stuff, the good stuff and it was just wonderful. Radio City is a wonderful place, people loved seeing him and he loved plyaing... It will be televised on Bravo during the holiday season and it is a don't miss!

Friday, July 09, 2004

Adding an Investment Business to Your Professional Practice

This was the topic of the day for me at the IMcom conference... See my name over and over and over again on the agenda. Brian Hamberger spoke and met there.. I also talked wth NRS head Jacqueline Hallihan and Bob Doyle the co-author of my book also spoke.. We jad a blast!

CPAs Voice Ire at Wall Street Hucksters and Corporate Big Shots

Telberg was fishing for thoughts on the crisis of confidence in the financial markets in July 2002 and caught mine:

We sat back and did nothing, said nothing and thought the good times would roll on and on forever. Boy were we wrong! Complacency is a key problem -- people with conflicts needed to speak about them and people hiring people with conflicts needed to think twice and in some cases just say "no and find someone else. More information and disclosure is always key so when in doubt, learn more or don't do it.

-- Phyllis Bernstein

Tweaking The System

Laurie Kulikowski writes about CPA turning into Financial Planners and... says:

"The big challenge is integration with their clients’ financial information," said Phyllis Bernstein, president of Phyllis Bernstein Consulting and founder of the American Institute of Certified Public Accountants' financial planning division. Tying that financial information in with existing tax software makes that integration process especially difficult. "They may have all of these separate systems that don’t talk to each other."

CPAs are still trying and still have a way to goo.. now let move on!

Time-weighted returns: unraveling the mystery of investment performance calculations

This one stuill holds the test of time. it was written when I was on the advisory board and i bet that I helped and made sure it was done. rob is till a good buddy of mine.

What Does the New Corporate Accounting Law Really Mean?

Here is what Rick Telberg writes:

CPA Phyllis Bernstein was one of the first to notice that the division is projected to have revenue of $4.9 billion in 2002. But with a sale price of $3.5 billion, they didn't even get one times revenue. "Now let's recall the year 2000," Bernstein mused, "when HP was going to pay between $16 billion and $20 billion in stock and cash for the company. Boy, have the times changed!"

CPAs Are Here

And this is a good thing! the more financial advice that they give, the mroe services that they offer, the better evryone will be.

Kenny Boy -- Corporate Greed takes Him Down

He has friends in the highest places. Dick VP had secret meeting with him when the country needed energy policies. King George invited him; they talked and met and, you know, they are Fellow Texans.

Will be interesting to see how it goes. They got Martha that criminal, they for Andy Fastow and his wife, but what about Kenny Boy? Bernard Ebbers was also paraded in handcuffs...

Kenny was "once worth about $400 million," but now says his "personal wealth has been greatly reduced by Enron's collapse." He estimates his current net worth at less than $20 million.

Lay is going say... I am a victim of fraud, just like the other Enron people.. I did not know what Fastow was doing... I relied on my people. Will Fastow be smart enough to take Kenny Boy away?

Thursday, July 08, 2004

This came from Naomi Ragen: "Apparently, those of you out there outraged at my disdain for John Kerry haven't read the recently unearthed information his campaign is trying desperately to hide in putting forth his pro-Israel voting record, namely that his wife has been pouring millions into the Tides Foundation, which supports among causes that are the darlings of the far Left, CAIR (which has connections to Hamas, and whose members include proven terrorists).

You don't have to believe me. Just do a google for Tides Foundation. Go to capitalresearch.org/news/news.asp?ID=174&t=6, which researches where grant money goes."

I don't know if it is true, but I am putting it out there. See also passed around a bit about Michael Morre -- and I have heard it before.

Here's her first email about Moore: "For those who have fallen dupe to the slick anti-American and anti-Israel propaganda of Michael Moore's lie-laden film, I send the following link to the article exposing his cheap tricks. Farenheit 9/11 is one big, fat overblown piece of garbage that reinforces Mr. Moore's contention that America doesn't really face a terrorist threat (9/11 was just a one-time fluke, see? And America probably had it coming...)

http://www.davekopel.com/Terror/Fiftysix-Deceits-in-Fahrenheit-911.htm

Here is the kitchen soup-- that she called "All Hail Moore" It is more than I care to know. I had heard some this before, but this is the whole ball of wax.

Friends,

Some very intelligent readers objected to the last article I sent out on Michael Moore. I wasn't familiar with the author, but I'm sorry if he has a reputation sullied by associations I was not aware of. Perhaps this article in the NY Times will be more acceptable. As for what this has to do with Israel, please read Moore's Israel remarks (and those following this piece.)

Moore angers me as an American, as an Israeli and as a Jew. I haven't seen his last film, so I'm not commenting on it. I leave that to others.

Naomi


NYTimes.com
All Hail Moore

June 26, 2004
By DAVID BROOKS

In years past, American liberals have had to settle for intellectual and moral leadership from the likes of John Dewey, Reinhold Niebuhr and Martin Luther King Jr. But now, a grander beacon has appeared on the mountaintop, and from sea to shining sea, tens of thousands have joined in the adulation.

So it is worth taking a moment to study the metaphysics of Michael Moore. For Moore is not only a filmmaker; he is a man of ideas, and his work is based on an actual worldview.


Like Hemingway, Moore does his boldest thinking while abroad. For example, it was during an interview with the British paper The Mirror that Moore unfurled what is perhaps the central insight of his oeuvre, that Americans are kind of crappy.

"They are possibly the dumbest people on the planet . . . in thrall to conniving, thieving smug [pieces of the human anatomy]," Moore intoned. "We Americans suffer from an enforced ignorance. We don't know about anything that's happening outside our country. Our stupidity is embarrassing."

It transpires that Europeans are quite excited to hear this supple description of the American mind. And Moore has been kind enough to crisscross the continent, speaking to packed lecture halls, explicating the general vapidity and crassness of his countrymen. "That's why we're smiling all the time," he told a rapturous throng in Munich. "You can see us coming down the street. You know, `Hey! Hi! How's it going?' We've got that big [expletive] grin on our face all the time because our brains aren't loaded down."

Naturally, the people from the continent that brought us Descartes, Kant and Goethe are fascinated by these insights. Moore's books have sold faster there than at home. No American intellectual is taken so seriously in Europe, save perhaps the great Chomsky.

Before a delighted Cambridge crowd, Moore reflected on the tragedy of human
existence: "You're stuck with being
connected to this country of mine, which is known for bringing sadness and misery to places around the globe." In Liverpool, he paused to contemplate the epicenters of evil in the modern
world: "It's all part of the same ball of wax, right? The oil companies, Israel, Halliburton."

In the days after Sept. 11, while others were disoriented, Moore was able to see clearly: "We, the United States of America, are culpable in committing so many acts of terror and bloodshed that we had better get a clue about the culture of violence in which we have been active participants."

This leads to Michael Moore's global plan of action. "Don't be like us," he told a crowd in Berlin. "You've got to stand up, right? You've got to be brave."

In an open letter to the German people in Die Zeit, Moore asked, "Should such an ignorant people lead the world?" Then he began to reflect on things economic. His central insight here is that the American economy, like its people, is pretty crappy, too: "Don't go the American way when it comes to economics, jobs and services for the poor and immigrants. It is the wrong way."

In an interview with a Japanese newspaper, Moore helped citizens of that country understand why the United States went to war in Iraq: "The motivation for war is simple. The U.S. government started the war with Iraq in order to make it easy for U.S. corporations to do business in other countries. They intend to use cheap labor in those countries, which will make Americans rich."

But venality doesn't come up when he writes about those who are killing Americans in Iraq: "The Iraqis who have risen up against the occupation are not `insurgents' or `terrorists' or `The Enemy.' They are the REVOLUTION, the Minutemen, and their numbers will grow - and they will win." Until then, few social observers had made the connection between Abu Musab al-Zarqawi and Paul Revere.

So we have our Sartre. And the liberal grandees Arthur Schlesinger, Ted Sorenson, Tom Harkin and Barbara Boxer flock to his openings. In Washington, a Senate vote was delayed because so many Democrats wanted to see his movie.

The standards of socially acceptable liberal opinion have shifted. We're a long way from John Dewey. Perhaps inspired by Moore, I got a fact wrong in my previous column. Bill Clinton did not win the evangelical vote in 1992 and 1996. I had relied on a report that was later corrected.



=======================
More on Moore
Below are some of Michael Moore's pre "Fahrenheit 9/11" statements of interest.

In 1987, Moore was honored by the American Arab Anti-Discrimination Committee
(ADC) for his "courageous efforts in journalism." (In 1986, Moore was for a few months been editor of Mother Jones, and it was reported by ADC - and denied by Mother Jones - that he had been fired by Mother Jones because of his decision to do a cover story about the Palestinians]

In 1990, after his movie "Roger and Me," Moore told an ADC conference in Detroit that he had been invited to attend a screening of his film at the Jerusalem festival. " Moore told ADC that he had said he "would not attend , as long as Israel occupied the West Bank and Gaza."

Moore spoke of doing a documentary on the Intifada (which he never did) with possible titles "Yitzhak and Me" or "West Bank Story"

Moore attended and spoke at a June 5, 1990 demonstration at the Israeli Embassy protesting the continued Israeli occupation.

Moore dedicated his most recent book "Dude, Where's My Country," to International Solidarity Movement activist Rachel Corrie. In an on-line interview 11/16/03 with Booknotes, Moore described her as "stand[ing] in front of the bulldozers when the Israelis go to bulldoze the homes of people who did nothing wrong, but because a family member committed a horrible crime - with, you know, no trial, no anything..."

2) In his book, "Stupid White Men and Other Sorry Excuses for the State of the Nation," Moore proposes:

Congress should inform Israel that it has thirty days to end the bloodshed in its/our name or we will cut off the annual largess of $3 billion. He observes that individual terrorism is bad enough, but state sponsored terrorism is truly evil.

If Israel wants to continue receiving our annual gift, it should be given a year to work out a plan with the Palestinians to create a nation called Palestine (formed from the West Bank, Gaza, and a strip of land that connects them). The new nation of Palestine must present a constitution that prohibits any form of aggression against Israel and guarantees full democratic rights to every Palestinian man, woman, and child.

- The United States would then give Palestine double what it has given Israel in funding. (Moore is prepared, for a permanent peace, to give us his portion--pennies a week.) It would be a form of the Marshall plan if direct aid for roads, schools, and industries were provided.

> MICHAEL MOORE ON US SUPPORT FOR ISRAEL & TERRORISM

FROM HIS NEW BOOK, "DUDE WHERE'S MY COUNTRY"

"....If you want real security, I suggest you consider my ideas that will definitely maker America a safer country....

6) It might be good to find out why hundreds of millions of people on three continents...are so pissed off about Israel"

Now I'm not just talking about your everyday anti-Semites. No, I'm talking about a perceived notion that we Americans are supporting Israel in its oppression of the Palestinian people. Now where did those Arabs come up with an idea like that? Maybe it was when that Palestinian child looked up in the air and saw an American Apache helicopter firing a missile into his baby sister's bedroom just before she was blown into a hundred bits....

...Of course many Israeli children had died too, at the hands of the Palestinians. You would think that would make every Israeli want to wipe out the Arab world, But the average Israeli does not have that response. Why? Because in their hearts, they know they are wrong, and they know they would be doing just what the Palestinians are doing if the sandal were on the other foot.

...Hey, here's away to stop the suicide bombings - give the Palestinians a bunch of missile-firing Apache helicopters and let them and the Israelis go at each other head to head. Four billion dollars a year to Israel, four billion a year to the Palestinians - they can just blow each other up and leave the rest of us the hell alone.'" (PP121-122Chapter 5 "How to Stop Terrorism? Stop being
terrorists"- Dude Where's my country (2003)

----------

Other quotes:

"There is no terrorist threat in this country. This is a lie. This is the biggest lie we've been told."

http://www.michigandaily.com/vnews/display.v/ART/2003/10/13/3f8a2589eee03

"I think the United States, I think our government knows where (Bin Laden) is and I don't think we're going to be capturing him or killing him any time soon. Because he's funded by their friends in Saudi Arabia! He's back living with his sponsors, his benefactors. Do you think that Osama bin Laden planned 9/11 from a cave in Afghanistan? I can't get a cell signal from here to Queens! I mean, come on, let's get real about this."

http://www.mediaresearch.org/notablequotables/bestof/2003/best7-9.asp

"The Patriot Act is the first step. "Mein Kampf" -- "Mein Kampf" was written long before Hitler came to power. And if the people of Germany had done something early on to stopp these early signs, when the right-wing, when the extremists such as yourself, decide that this is the way to go, if people don't speak up against this, you end up with something like they had in Germany. I don't want to get to that point."

http://www.chronwatch.com/content/contentDisplay.asp?aid=5535&mode=print

"I want him [Bush] paraded in handcuffs outside a police house as a common criminal because I don't know if there's a greater crime than taking people to war based on a lie. I've never seen anything like Bush and his people. They truly hate our constitution, our rights and liberties. They have no shame in fighting for their corporate sponsors."

http://www.metrospy.com/hollywood.htm

"(Americans) are possibly the dumbest people on the planet ... in thrall to conniving, thieving, smug pr*cks. We Americans suffer from an enforced ignorance. We don't know about anything that's happening outside our country. Our stupidity is embarrassing." -- Michael Moore while in Germany

http://www.d-42.com/archives/000224.html

Tuesday, July 06, 2004

Took a quick look at the google news before going bcak to work and found this item about my Israel.

Voice of America (VOA) news says "Israel neither acknowledges nor denies having a nuclear arsenal, and has maintained a policy of nuclear ambiguity for decades." Thank G-D it has this stuff, given its region. If it did not have them, or if its neighbors thought it had them-- we are able to hold them back.

Recall what happenend in 1948, 1956, 1973, etc... Read a bit further to see the truth come out -- the Palestinian National Authority wants to see Israel free of weapons of mass destruction.

The Christian Science Monitor has an update and its worth reading. I'll send that link to a few people.

For more about the desert town of Dimona.. don't ask! I don't know what the problem is- I had a friend that worked there who now is the mayor of Arad.

The answer to retirement saving problem -- called Retirement savings Accounts, won't work because people don't have the money to save more. That is why they are not makign enough use of the retirement plans sponsored by their companies now. Most people feel inadequate when faced with making investment decisions, so they put it off. Still others are unaware that the tax advantages and long-term growth potential of company-sponsored plans outweigh their "I can't afford it" rationale.

While the general consensus is that Social Security won't be all things to all people, the government has created a range of individual retirement savings plans over the years to encourage Americans to assume responsibility for their own futures. It started with 401(k) plans -- defined contribution plan were started in the 1970s-- but employees are buying gas, new cars etc and just not saving.

While Individual Retirement Accounts (IRAs) and Roth IRAs are considered to be
successful vehicles for middle-income families to build up tax-advantaged retirement
savings, in 1998 only 28.4 percent actually had such an account, and the median balance
in these accounts was only $20,000. That is hardly enough to provide an adequate
supplement to Social Security and private pension income during retirement.

Further, while nearly two-thirds of families with incomes over $100,000 had an IRA, only 14.7 percent of those with income between $100,000 and $25,000 had an account.

401(k) plans and their cousins the 457 and 403(b) retirement plans could be enough if people really took personal responsibility for funding their own retirement. I am also fond of retirement plans for small-business owners and others without access to company-sponsored plans. In short, these plans get you into the habit of saving money, and they'll give you some tax breaks to boot. The sooner you start investing in one, the more relaxed your retirement could be.

I have read that there are currently 16 types of retirement savings accounts and plans that are available to people. Rep. Sam Johnson’s (R-Tex.) proposal would not pave the way toward tax-free retirement accounts. Let's try to simply things a bit to make it easier before we tinker with the entire system.

The last few days have been true summer days: warm air, bright sun, flowers popping up... with BBQs, riding my bike, seeing Macy's fireworks and enjoying it all!

Kerry annouced his veep today. The decision is to have two Senator Johns on the ticket. I'm not sure that our people will be happy with a former trail lawyer as a Veep. But he looks good, sounds good and besides what does the veep really do?

We went to see Fahrenheit 911 a few weeks ago. I may have talked bout this already, but it is worth repeating, since it may be the only movie I see this summer. It was such a lot of fun. We laughed so much! He did a wonderful job. We recommend it with enthusiasm.

My thanks to Harvey Weinstein for being true to his word and helping the movie see the light of day. Now lets hope it does what it needs to do - and get people to go out a vote. it wasn't going to chance my mind-- I was always seeing to dump the baby bush! Moore's part about -- the USA Patriot Act, that infringes on basic civil rights-- where he hijacks an ice cream truck and drives around in Washington Dc to read it to the People that signed it.. A sad, true fact of life. Iraq was a war of choice rather than necessity! The connections between Saudi's and the Bushes are also eye opening.

Moore considers the presidency of George W. Bush and where it has led us. He looks at how - and why - Bush and his inner circle avoided pursuing the Saudi connection to 9/11, despite the fact that 15 of the 19 hijackers were Saudis and Saudi money had funded Al Qaeda.

I saw this post and thought it was worth reaping-- Letterman's Top Ten List: Top Ten George W. Bush Complaints About "Fahrenheit 9/11":

10. That actor who played the President was totally unconvincing

9. It oversimplified the way I stole the election

8. Too many of them fancy college-boy words

7. If Michael Moore had waited a few months, he could have included the part where I get him deported

6. Didn't have one of them hilarious monkeys who smoke cigarettes and gives people the finger

5. Of all Michael Moore's accusations, only 97% are true

4. Not sure - - I passed out after a piece of popcorn lodged in my windpipe

3. Where the hell was Spider-man?

2. Couldn't hear most of the movie over Cheney's foul mouth

1. I thought this was supposed to be about dodgeball

Cheney Booed at Yankee Stadium --

Thursday, July 01, 2004



this is more information and from a good source-- The Wall Street Journal online about the FLP getting the green light.

Financial-Planning.com

Court Ruling Scores a Victory for Family Businesses

Financial-Planning.com

Here is my article on financial planning.com... it is good to see that they are posting from me. Now I need to expand this topic a wee bit and get it published somewhere else.. Kudos to Financial Planning magazine for posting this!

Michael Moore's Movie