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Biz bits

By wire services
Published July 31, 2005

THE SARBANES-OXLEY ACT was aimed at reforming accounting practices at publicly traded companies, but Business Week Small Biz says it's giving privately owned small companies a fit. "In a classic case of trickle down, some companies are complying because their big-company clients are asking them to. Others are seeking outside investors, who increasingly require SarbOx-style controls." The magazine says the law even is making it more difficult and expensive for small companies to go public because "the venture capital landscape is changing."

DUTY-FREE SHOPS at the airport's international terminal once were known only for cheap booze and cigarettes. Now, you can buy watches, electronics, perfume, designer handbags, chocolates and other high-end items at big discounts. But while you can save as much as 45 percent on some items, duty-free shopping isn't always a better deal, SmartMoney.com says. Be sure you know what items cost to determine if you're getting a good deal. The Web site says the best deals are on American-made items that states tax heavily, mainly cigarettes and liquor, and on imports, such as German chocolates, Swiss watches, French wine, Irish whiskey and Japanese cameras.

FAST-GROWING STOCKS may look attractive but buying them could turn out to be a mistake, according to Better Investing, the magazine of the National Association of Investors Corp. Take Krispy Kreme, which made Babson Capital Management's "most popular stocks" list in 2002 and 2003. That was based on a high price-to-earnings ratio, which measures the value of a stock relative to the company's profit growth. But the doughnut company's shares, as of press time in May, had fallen more than 80 percent in value since those peak years, partly because of the Atkins diet craze.

YOUR IDEA OF RETIREMENT may be lolling on the beach or working in a less demanding job. Whatever the scenario, be sure to plan - for your finances as well as what to do with your time and where to live. BusinessWeek's annual retirement guide in its July 25 issue helps you to think through these issues and others.

YOU WORK HARD, hoping to improve your professional skills, career outlook and income. But work also is apparently helping expand our waistlines. Nearly half of 1,600 workers polled in May by Careerbuilder.com said they've gained weight since beginning their current jobs. Experts suggest taking time to cook healthy meals and exercising regularly.

Compiled from Times wires and Web sites.

[Last modified July 28, 2005, 19:32:02]