Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?With former Miami Dolphins coach Don Shula, re-visiting the New England Patriots spying scandal and bringing up the issue whether an asterisk should be added if they successfully run the table and go undefeated, I found it interesting that a very successful Israeli defense company's subsidiary was also found guilty of espionage.The Patriots were guilty of spying against the NY Jets and having seen the Jets play, I can't imagine that the spying made any difference whatsoever. The same can't be said of Elbit Systems (NASDAQ: ESLT) subsidiary Kollsman Inc.
Kollsman Inc., was found guilty of misappropriation of trade secrets relating to commercial air data computers. The jury ruled in favor of the plaintiff Innovative Solutions & Support Inc. (NASDAQ: ISSC) and found that IS&S had suffered damages of just over $4.4 million in lost profits and $1.6 million in defendants' net profits, for a total of over $6 million. The verdict also opens up the possibility of imposition of exemplary damages and other costs against the defendants based on willful conduct.
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