Category Archives: OpenSpending

Candy Crush, King Digital Entertainment, Offshoring and Tax

Sifting through the King Entertainment F-1 filing with the SEC for their IPO (Feb 18 2014) I noticed the following in their risk section: The intended tax benefits of our corporate structure and intercompany arrangements may not be realized, which could result in an increase to our worldwide effective tax rate and cause us to […]

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State Budget Crisis Task Force Report

The State Budget Crisis Task Force was convened in June 2011 and issued its report in July 2012. The top line quote from the main site states: State finances are not transparent and often include hidden liabilities as well as rapidly growing responsibilities which are difficult to control. While state revenues are gradually recovering from […]

Also posted in Open Knowledge Foundation, Spending Stories | Leave a comment

Debt Does Not Equal Revenue Except in California

Striking quote on inability to understand that debt != revenue: California is also confused about the meaning of the term “revenues”. Asked at a 2008 budget conference whether Schwarzenegger would consider raising revenues to balance the budget, Thomas Sheehy, deputy director of the Department of Finance, replied that the governor’s budget, in fact, already included […]

Also posted in Open Knowledge Foundation, Spending Stories | 1 Response

Public Debt, Public Finances and OpenSpending

Excerpts and commentary on Niall Ferguson’s first Reith Lecture. All emphasis added. In reading this piece I thought constantly of the Open Spending project where we are endeavouring to collect together government (and other public) financial information from around the world and present it in an understandable way. In particular, it made me wonder whether […]

Also posted in Economics, Open Knowledge Foundation | 1 Response