CRISIS CENTER LAUNCHED
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CCH has created the CCH Financial Crisis News Center to provide a variety of information, including news stories, analysis and links to source documents for regulatory actions, involving the current economic crisis.
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AVALARA LAUNCHES BLOG
Avalara, based in Bainbridge, Island, Wash., has launched Sales Tax Buzz, a blog dedicated to information on sales and use taxes.
Located at www.salestaxbuzz.org, the site is a WordPress blog that is written by Althea Azeff, an Avalara employee who handles investor relations, media relations and a national accountants' network, and is funded by the company.
COPANION NAMES CFO
Copanion, an Andover, Mass.-based company that makes workflow software, has hired Stephen Royal as the company's chief financial officer.
Previously, Royal served as senior vice president and CFO of OatSystems, recently acquired by Checkpoint Systems. The company makes RFID software applications. Before that he was CFO for CXO Systems, which makes operational intelligence software.
MORNINGSTAR PONDERS CREDIT RATINGS
Morningstar has issued a statement that it is considering establishing its own credit ratings systems in competition with rating agencies such as Moody's and Fitch, although it has no plans in place.
In a question-and-answer section of its Web site, issued under signature of CFO Scott Cooley, Morningstar said it is evaluating the area. The statement said that the reputation of S&P, Moody's and Fitch "has been permanently impaired. Their futures look deservedly grim, yet it's a service that someone needs to provide. What better company to step in than Morningstar?" Morningstar cited its equity research, a trove of financial data and independence as strengths.
CCH NAMES SALES TAX TEAM
The CCH sales tax unit has named a five-person channel sales team, responsible for selling the company's CorpSystem tax products to companies that use Microsoft and Sage financial software.
The team is led by Michael Silmont, national strategic alliance manager. The other members are Marie Kelly, northeast region, David Kelly, southeast region, Nichole Crowley, central United States and Canada region, and Tiffany Campbell, west region.
ADVENT NET JUMPS
Advent Software reported net income of $6.2 million for the third quarter ended Dec. 31, up from $3.1 million a year earlier.
Revenue for the most recently ended period was $74.4 million, up from $59.4 million a year earlier. Quarterly operating income hit $7.2 million, more than double the $3.5 million in last year's corresponding period. Net income for 2008 reached $6.2 million, up from $3.8 million, while revenue rose to $209.4 million, up from $166.5 million.
ADP NET, SALES RISE
Automated Data Processing reported a 3 percent increase in earnings on top of a 2.5 percent increase in revenue for the second quarter ended Dec. 31.
Income reached $300.5 million in the most recently ended period, up from $291.2 million earlier a year earlier. Second-quarter revenue was $1.77 billion, up from $1.739 million. In the company's Employer Services, payroll and payroll tax filing revenue rose 3 percent while revenue beyond payroll was up 10 percent.
THOMSON RELEASES TAX PRACTICE AIDS
Thomson Reuters has released four new Tax Practice aids for four common tax forms as part of its Checkpoint Tools offerings.
The company's Tax & Accounting business said the practice aids are the same as PPC's Tax Deskbooks, but the electronic format offers added functionality and features. The aids have been issued for the 1040, 1120S 1065 and 1041 returns.
SPEEDTAX STARTS CHANNEL PROGRAM
SpeedTax, which markets Web-based sales and use tax services, is offering new programs for VARs who resell Accpac, MAS 90/200, Dynamics GP and the QuickBooks Enterprise, Pro and Premier editions.
The programs have no cost to join and offer a perpetual 15 percent annuity, along with free product training. VARs get the annuity regardless of whether they complete the sale or whether it is made by SpeedTax after their referral. They also receive marketing assistance.