June 22, 2000 |
H&R Block Inc., the world's biggest tax preparation company, named Chief Executive Frank L. Salizzoni chairman to replace Henry W. Bloch, 77, who will retire in the fall. Bloch, who founded the Kansas City company in 1955 with his brother Richard, will stay with the company as honorary chairman. Salizzoni will become chairman Sept. 13 and will retire as chief executive Dec. 31, to be replaced by Mark A. Ernst, the current president and chief operating officer.
December 12, 2007 |
H&R Block Inc., the nation's largest tax preparer, delayed its fiscal second-quarter earnings report to give its new auditors time to review the numbers. But the company said it expected a much larger loss as its mortgage business continued to drag it down. A preliminary report said that H&R Block expected a net loss of $502.3 million, or $1.55 a share, for the quarter ended Oct. 31, compared with a loss of $156.5 million, or 49 cents, during the same period a year earlier. Of that loss, $366.
August 30, 2006 |
A federal judge has approved a $39-million settlement in a long-running class-action lawsuit against H&R Block Inc. by customers who claimed they paid too much for refund anticipation loans. "I conclude that the settlement in this case is fair and reasonable," U.S. District Judge Elaine E. Bucklo said in an order issued Monday approving the third effort to reach a settlement in the suit, which has dragged on since 1998.
May 27, 1999 |
The growth strategy of tax-preparation giant H&R Block Inc. is rankling some of its oldest and largest franchisees, prompting them to go to court. In a lawsuit filed in a Kansas circuit court, 24 franchisees claimed that Kansas City-based H&R Block is unfairly competing with them and breaching long-standing contractual agreements by distributing tax-preparation software on the Internet and through retail outlets.
February 16, 2000 |
H&R Block Inc., the world's largest tax preparer, has shut down its online filing system after discovering that some people's financial information may have been mixed with that of other people. H&R Block identified fewer than 50 people affected among more than 300,000 tax returns, but it expects the program to remain shut down until the weekend while it makes sure no other people are affected, spokeswoman Linda McDougal said.
November 26, 2003 |
H&R Block Inc., the world's biggest tax preparation company, earned a second-quarter profit for the first time in its history because of a 20% increase in mortgage lending earnings. Its shares rallied in after-hours trading. Net income was $10.4 million, or 6 cents a share, contrasted with a loss of $37.3 million, or 21 cents, a year earlier. Analysts surveyed by Thomson First Call expected a 6-cent loss. The company increased its annual earnings forecast to a range of $3.65 to $3.
August 29, 2001 |
AOL Time Warner Inc. agreed to promote services from H&R Block Inc., the world's biggest tax preparer, on its Internet and television networks, including America Online and Time Warner Cable. H&R Block will offer America Online service to clients at its 10,400 offices worldwide. Terms of the agreement weren't disclosed. Separately, H&R Block said its fiscal first-quarter losses narrowed to $30.8 million, or 17 cents a share, from $51.
July 6, 2007 |
H&R Block Inc.'s mortgage unit lost a $1.5-billion credit line, falling "dangerously close" to the minimum amount of borrowing capacity demanded by a hedge fund firm that has agreed to buy the money-losing home lender. The tax-preparation giant, based in Kansas City, Mo., said it was confident the loss of the credit line wouldn't stop the sale of sub-prime lender Option One Mortgage Corp. to Cerberus Capital Management, a New York-based hedge fund manager.
June 30, 1999 |
H&R Block Inc., the world's largest tax preparer, said it will pay $290 million for accounting firm McGladrey & Pullen's non-audit business, expanding its accounting and consulting practice fourfold as it builds a full-range financial services company. The transaction would make H&R Block the nation's sixth-largest accounting firm, with about $400 million in revenue.
June 28, 2007 |
Richard Breeden, former head of the Securities and Exchange Commission and now a hedge fund manager, is seeking a seat on H&R Block Inc.'s board as management faces pressure to sell the company. Breeden Capital Management, which holds about 2% of H&R Block's shares, will nominate Breeden and two other people to fill three seats on the company's 11-member board in September, the Greenwich, Conn.-based investment firm said Wednesday.