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(Bloomberg) — Robert T. Brockman was just putting the finishing touches on a new private equity fund when worrisome news arrived. Law enforcement agents had raided the home of a tax lawyer in Texas who had worked for him.
© Photographer: Drew Angerer/Getty Images
The flag of Bermuda flies in the city of Hamilton, Bermuda.
A Houston businessman who had made his fortune selling software to auto dealers, Brockman grew nervous, according to an account filed in Bermudian court. Could the Internal Revenue Service be delving into his taxes and business interests?
Using an app called Silent Phone that makes calls untraceable, he spoke with an adviser in Bermuda about whether the Houston lawyer might ultimately reveal Brockman’s links to offshore trusts and spur an investigation, according to the filing.
The gravity of the matter became apparent two weeks after the August 2018 raid. That’s when IRS agents
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For Immediate Release
Chicago, IL – September 28, 2020 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan Chase & Co. JPM, Citigroup Inc. C, PepsiCo, Inc. PEP and Micron Technology, Inc. MU.
Handicapping Q3 Earnings Season
The overall earnings picture has been steadily improving over the last three months as big parts of the U.S. economy have started coming out of the pandemic-driven lockdown. The market will be looking for this improving earnings trend to accelerate in the Q3 earnings season.
The wide majority of companies have fiscal quarters that correspond with the calendar quarters, which is September 30th for Q3. These calendar-quarter companies will start reporting Q3 results after September 30th. Back in the day when Alcoa was in all the major indexes, the aluminum producer was generally seen as kick-starting quarterly reporting cycles.
The rump Alcoa