Standout Stories

Starting at zero… Essentially, during a portion of tax season, we give taxpayers with relatively straightforward tax situations a risk-free way to try our software and learn that they can prepare their own taxes. Why would a company in the business of selling tax software allow someone to prepare and file their federal and state returns for free? It’s an important question. On CNBC, markets commentator Jim Cramer even joked with Intuit CEO Brad Smith: “When I first heard it … I didn’t believe it.”

As we explain to investors, one of the top goals for any growth-oriented software company, and one of our core finance principles, is to grow customers faster than revenue. The product is free, but adding customers gives us additional opportunities to monetize over time. Basically, we want to drive product adoption and grow our customer base without giving away the store. Read article.

Plans for your cybersecurity… With the hacktivist group Anonymous planning to launch a month-long cyber attack on global financial systems, including NASDAQ, PayPal, and the London Stock Exchange, it is a good time for CFOs to shore up their company’s cybersecurity strategies. Here are five articles to help formulate a plan to combat a data breach. Read article.

 

Headlines

Tribune Aims to Kill Gannett Bid

The publishing company has also sold a $70 million stake to a billionaire investor as it continues to put obstacles in the way of a hostile takeover.

 

Best Buy Forecasts Lower Profits; CFO Departing

Best Buy expects sales in the second quarter will be flat, and that non-GAAP diluted earnings per share will fall short of Wall Street’s expectations.

 

How Starting At Zero Can Really Add Up

“We see a free product offering as a solid component of our financial strategy,” writes Intuit CFO Neil Williams.

 

What’s Your Cybersecurity Plan?

With the hacktivist group Anonymous planning a cyber attack on global financial systems, now’s the time to revisit your cybersecurity strategy.

 

SWIFT Launches Plan to Brace Network’s Security

SWIFT is stepping up efforts to share information among global financial institutions and develop security audit frameworks for customers.

 

Moody’s Cut Deutsche Bank’s Credit Rating

Saying Deutsche Bank’s restructuring plan faces substantial headwinds, Moody’s downgraded the bank’s unsecured debt and long-term deposit ratings.

 

New Equipment Lending Drops 10%

“Sluggish activity to begin the second quarter seems to have continued the relatively soft Q1,” said ELFA’s chief executive.

 

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