Gloria Mackenzie, an 84-year-old woman in Florida, is still living simply after winning $590 million in the lottery. She is driven around in her son's Ford Focus and still takes restaurant leftovers home. However, her lifestyle is changing in some ways: She is waiting to move into a luxury home under construction.
The National Association of State Boards of Accountancy is advising companies not to use the American Institute of Certified Public Accountants' recently released Financial Reporting Framework for Small- and Medium-sized Entities. Instead, the NASBA supports private companies' use of generally accepted accounting principles modified by the Financial Accounting Standards Board.
News Corp.'s media and entertainment spinoff, which will include Fox Broadcasting, Fox News and the corporation's TV and movie studio, will be called 21st Century Fox. The name choice "draws upon the creative heritage of 20th Century Fox, while also speaking to the innovation and dynamism that must define each of our businesses through the 21st century," Rupert Murdoch, News Corp.'s chairman and chief executive, wrote in a company memo. The division of News Corp. into separate entertainment and publishing divisions is slated to happen in early July.