The Latest

Executives from telecommunications concern Sprint Nextel employed the most overpaid executives relative to company performance, with top managers awarded a compensation package of nearly $74 million in 2007 despite the company posting a loss of $29 billion.

Payroll and benefits outsourcing concern Paychex Inc. has partnered with online expense management products provider ExpenseWire to power its Paychex Expense Manager — an integrated payroll and expense management product for small and midsized businesses.

After a two-year battle, the Internal Revenue Service has released thousands of pages of agency statistics to the Syracuse University-based Transactional Records Access Clearinghouse.

A new audit by the Treasury Inspector General for Tax Administration has found security weaknesses on each of the three computer systems it reviewed in the Office of Research, Analysis and Statistics.

Sen. Hillary Rodham Clinton, D-N.Y., has proposed a $150 billion Emergency Stabilization Fund to help small businesses, universities, students and municipalities cope with the credit crisis, with the money coming from the $700 billion financial bailout package.

Bernard Blum, 86-year-old founder of Connecticut accounting firm Blum Shapiro, passed away at a hospital in Hartford.

The problem was major for an organization its size—the life guards of a community pool, who were on duty as night watchmen, were bringing underage guests onto the grounds and giving them alcohol. The last person to learn about the problem was the president.

The Securities and Exchange Commission said it has started work on a study of mark-to-market accounting authorized by the financial rescue bill that was approved last week.

Participants in a Securities and Exchange Commission roundtable discussed how the credit crisis would affect the SEC's plans for an improved financial disclosure system.

The Internal Revenue Service issued a notice late last week that allows U.S. corporations to get more tax-free loans from their foreign subsidiaries.