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McGladrey Splitting From Block; More news
7/21/2009

McGLADREY PARTING WAYS WITH H&R BLOCK
The alternative service structure that McGladrey & Pullen signed 10 years ago in combining with Kansas City, Mo.-based H&R Block no longer makes sense, the firms managing partner says, therefore M&P announced today that it is exercising an option from the original deal that allows it to part ways with HRB. It will take at least seven months for M&P to unwind fully its relationships with HRB and RSM McGladrey.

In a 90-minute conference call with M&P partners earlier today, Dave Scudder, the firms MP, was adamant that HRB didnt follow through on its promises to invest in M&Ps core services. HRBs business strategy is not ours, he said. The organizations have different goals, and HRB did not consult with M&P before making strategic commitments, he said.

This is not what we signed up for, Scudder said, according to an independent third-party source. He thinks the shared service agreement M&P paying HRB a fee for leased space, back-office services, payroll, etc. is onerous and that it can get the same services for a lot less money.

M&P was hamstrung by the alternative service structure, Scudder told partners. M&P wasnt owned by HRB but...

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ACCOUNTING FOOTNOTES

ACCOUNTING TODAY SourceMedia is pulling the plug on the Practical Accountant, in the middle of its 42nd year as a monthly publication, andAccounting Technology, which began in 1984 as PCs and other technologies became increasingly important for firms. Theadvertising-supported free-to-subscribers business model was a cash cow until the DotCom bubble burst about 10 years ago and suffered greatly over the past 18 months. Signs of distress came early Howard Wolosky, the respected P.A. editor, was cut loose and got worse as the publications shrunk 32 pages in the final P.A. with only four full-page advertisements. Some content from both publications will be moved into Accounting Today, which also suffers from a shrinking advertising base. Theres no mention of it in Accounting Technologys final issue but Robert Scott, the long-time editor, wont make the transition. SourceMedia is searching for a sr. technology editor to...

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STATE SOCIETIES AND BOARDS...

ILLINOIS SOCIETY Sara J. Mikuta (Leaders Bank, Oak Brook) is nominated to succeed Lee A. Gould (Gould & Pakter Associates, Chicago) as chair in 2010. Other members elected to the 2009 board are Charles F.G. Kuyk III (Crowe Horwath and Company, Chicago), secretary; and Robert E. Cameron (Cameron Smith & Company, Springfield ), treasurer. Directors (two-year term ending May 31, 2010) are Brent A. Baccus (Washington Pittman & McKeever, Chicago), Therese M. Bobek (PricewaterhouseCoopers, Chicago), Cara C. Hoffman (Blackman Kallick, Chicago), Daniel F. Rahill...

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