Author: Editor

Warren Buffett counts Geico among the best investments of his career. Michael Burry says Molina Healthcare could be an even better bet today.Burry, who recently pivoted from hedge fund manager to Substack writer, compared the health insurer to the auto insurer in a Monday article titled: “Molina Healthcare: Ghosts of GEICO Past.”He labeled Buffett’s purchase of beaten-down Geico stock in 1976 as the “real steal” — but said it was arguably riskier than buying Molina stock today, and called the company a “better business proposition in many ways too.”Burry wrote that Molina “has a clearer path to significant double-digit long-term…

A view of the Thurgood Marshall U.S. Courthouse in Manhattan, N.Y., where the Second Circuit Court of Appeals is seated, from 2020. Mark Lennihan/AP hide caption toggle caption Mark Lennihan/AP A nonprofit group that advocates for law clerks has taken the rare step of filing a misconduct complaint against a federal appeals court judge, alleging she bullies and mistreats law clerks and that the courts’ process for fielding such claims is broken. The complaint from the Legal Accountability Project against Judge Sarah Merriam of the U.S. Court of Appeals for the Second Circuit states that it is based on conversations…

The optional standard mileage rate for business use of automobiles will increase 2.5 cents next year, while the mileage rate for vehicles used for medical purposes will decrease half a cent, the IRS announced.Processing ContentOptional standard mileage rates are used to calculate the deductible costs of operating vehicles for business, charitable and medical purposes. Additionally, the optional standard mileage rate may be used to calculate the deductible costs of operating vehicles for moving purposes for certain active-duty members of the Armed Forces, and now, under the One Big Beautiful Bill Act, certain members of the intelligence community.According to IRS Notice 2026-10, beginning Jan.…

The American Institute of CPAs has proposed a set of revisions to its Code of Professional Conduct regarding the kinds of alternative practice structures set up by firms that have accepted private equity investment.Processing ContentThe proposed revisions include changes in the independence rule, the definition of a “network firm,” the “form of organization and name rule,” the conceptual framework for independence, the conceptual framework for members in public practice and more. The AICPA is asking for comments to be emailed to [email protected] by April 30, 2026.The AICPA has been considering the changes all year after its Professional Ethics Executive Committee…

For wealthy families, passing down a traditional individual retirement account simply transfers a big tax burden from the owner to the heirs.Processing ContentThat’s why strategies such as establishing a trust, converting the holdings to a Roth IRA or using qualified charitable distributions or other philanthropic gifts could help financial advisors’ clients avoid high taxes and complicated rules, according to Ari Weisbard, managing partner at Washington, D.C.-based registered investment advisory firm Values Added Financial. The so-called asset location of traditional IRAs decides the difference in estate planning that — to use an example cited in an email last month from Weisbard’s firm…

Recruiting a new head of preparedness may be trickier for OpenAI than you might think.The ChatGPT maker recently generated buzz online when it said the position — which pays $555,000 a year plus equity — is up for grabs. Yet some tech-industry observers say finding someone who’s qualified and willing to take it on poses a challenge.Whoever lands it will be tasked with balancing safety concerns and the demands of CEO Sam Altman, who has shown a penchant for releasing products at an exceptionally fast clip. This year, OpenAI rolled out its Sora 2 video app, Instant Checkout for ChatGPT,…

Nine U.S. states are lowering income taxes on Jan. 1, according to a recent Tax Foundation analysis — a move that could give some taxpayers additional financial breathing room as they head into the new year.The cuts are part of an ongoing effort that began during the pandemic, when many states’ budgets ballooned due to federal aid, providing them with an extra incentive to trim state income taxes. Proponents of the cuts argue that they can spur economic growth and make their states more competitive. At the same time, groups like the nonpartisan Center on Budget and Policy Priorities have warned that reducing…

Agents with the Internal Revenue Service’s Criminal Investigation unit reportedly helped track down the shooter who terrorized Brown University in Providence, Rhode Island, killing two students and wounding nine others, and killing a Massachusetts Institute of Technology professor two days later at his home.Processing ContentThe killer, Claudia Manuel Neves Valente, was eventually tracked down by FBI agents earlier this month with the help of IRS-CI agents after a tip from a Reddit user named John who had seen Valente acting suspiciously around the Brown University campus. The Reddit user posted about seeing Valente in a Nissan van with Florida plates.…

This as-told-to essay is based on a conversation with Gregor Konzett, a 27-year-old former Google employee based in London. It’s been edited for length and clarity.When I got relocated to work out of Google’s Mountain View headquarters in 2024, it was a dream come true.I was raised in a small village in Austria, but I always dreamed of living in Silicon Valley. As a child who was excited about tech, I wanted to be where innovation happened.My team was based in California, but I was working from London. Not even a year into my job, I was asking if I…

Updated 2025-12-29T17:37:24.239Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Chip Wilson founded Lululemon Athletica Inc. in 1997 after selling his first apparel  company. During his tenure, Wilson became known for his controversial remarks and mishandling of company scandals. Since leaving, Wilson has been vocal about his negative views of Lululemon’s leadership and recently launched a proxy fight.…