TaxMasters, Inc. (OTC BB:TAXS) filed a recent report on Form 8-K to announce that Patrick Cox, its founder, CEO and majority shareholder, voluntarily entered into a Financial Reorganization Agreement in which Mr. Cox deposited 200 million shares of his TaxMasters common stock with TaxMasters’ transfer agent, Olde Monmouth Stock Transfer Co., Inc. These shares will be held in escrow by Olde Monmouth for a five year period ending June 30, 2015. During that time, Mr. Cox has waived his right to vote the escrowed shares and he has also waived his right to receive any dividends or other distributions by TaxMasters with respect to the escrowed shares. As a result of Mr. Cox’s voluntary escrow of shares, there are now 139,676,105 shares of common stock that can be voted or can receive dividends or other distributions. The 139,676,105 shares will also be the number of shares used to calculate earnings per share for TaxMasters financial statements.
TAXS, the IRS tax relief company, is the first publicly traded tax representation firm in the United States. Started by Patrick R. Cox in 2001, TaxMasters offers services and counsel to taxpayers across the country facing seemingly insurmountable tax problems, and relief from substantial federal tax debt.
Wells Fargo & Company (NYSE:WFC) recently reported that Chicago commercial banking veteran Bob Kastenholz has joined the company as a senior vice president and regional manager. Kastenholz now oversees a Wells Fargo Regional Commercial Banking Office (RCBO) in Chicago that serves middle-market companies with revenues in excess of $20 million. Previously, Kastenholz worked 25 years for Chicago’s LaSalle National Bank, now Bank of America, where he was a senior vice president and market executive in the Commercial Banking Group, serving Midwest clients.
WFC is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet, and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America.
Prudential Financial, Inc. (NYSE:PRU), recently reported that the company has honored six plan sponsors for redesigning their defined contribution retirement programs to assist plan participants in achieving a more secure retirement. This new retirement plans will cover Ply Gem Industries, the United Parcel Service (UPS), the State of North Carolina, Munters Corp, Bekaert Corp and EMC Insurance Companies. with this redesigned retirement plan Ply Gem has seen a 568 new enrollment participants in their 401 (k) plan. Ply Gem also added Prudential’s GoalMaker asset-allocation tool, a feature selected by 42 percent of plan members.
PRU a financial services leader with approximately $693 billion of assets under management as of March 31, 2010, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century.

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