News & Updates - Monday, February 28, 2005
Rocket-man Aborted By IRS
Walter Anderson is not a familiar name, but we learn that he is a very wealthy tech entrepreneur, who according to the IRS, failed to pay over $210M in federal and local income taxes and hid at least $450M offshore. In one particularly ballsy year, 1998, the Washington DC-based Anderson, reported a total income of $67,939 and paid a tax of just $494. The IRS said that he actually made at least $126M that year that he never reported. Anderson is currently CEO of Orbital Recovery, a company trying to extend the life of telecommunications satellites. He was arrested yesterday after a disgruntled employee ratted him out. Read - I.R.S. Accuses Man of Hiding $450 Million (NY Times)... Continue...
News & Updates - Monday, February 28, 2005
Forbes' Dynamo List
A number of friends have worked at Forbes over the years, and they all say it is a pretty freaky place. So we take with a grain of salt Forbes' list of private company Tech Dynamos, but we know that Forbes has a huge readership so this list has importance. Still, unlike the Forbes 500, this list just doesn't seem to have any logic. How did companies with $17M, $18M, $23M in annual revenues get on a list of companies to watch in 2005? And why not other private tech companies that have over $100M in revenues? Here's the list if you don't want to click through to the article: CBay Systems Object Sciences Payment One PeopleClick Postini PriceGrabber.com Quintum Technologies SkinMedica STSN TriVirix International Read - Ten To Watch In 2005 (Forbes)... Continue...
Search - Monday, February 28, 2005
Topix.net Turns a Profit
Two years into the business, Topix.net is in the black and the team is now taking home bona-fide paychecks. Despite what naysayers like Rafat Ali at PaidContent.org have forecast, Topix.net has been able to build a real business through energy and will. Not only that, but they've landed the biggest fish of all - The New York Times - as an anchor partner. Cheers guys. Read - Topix.net: All News Is Local (Marketwatch)... Continue...
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