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Author: JTinvest Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 461  
Subject: Re: HRB Affirms Guidance Date: 3/17/2008 11:20 PM
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I definitely see how HRB adds value to help a lot of people get their tax returns done without having to worry about the ever changing tax laws. Having a reliable "tax guy" to answer all your questions and to do your taxes correctly is worth $200 a year to a good number of folks. However why should I pay $200 (or more) when I can do my own taxes online for a fraction of that price?

On a more positive note, HRB finally found a credible buyer for Option One:

Wilbur Ross Buys H&R Block's Option 1
Monday March 17, 5:11 pm ET

Wilbur Ross to Pay $1.1B for H&R Block's Option 1

KANSAS CITY, Mo. (AP) -- H&R Block Inc. said Monday it has signed an agreement to sell its troubled mortgage servicing business for $1.1. billion to billionaire investor Wilbur Ross.

Option One Mortgage Corp., which has been rocked by the nationwide mortgage crisis, currently services about $53 billion of subprime mortgages, ranking it the fourth-largest in the nation. Kansas City-based H&R Block shut down Option One's mortgage originations after an earlier agreement to sell the division to Cerberus Capital Management fell through...


http://biz.yahoo.com/ap/080317/wilbur_ross_h_r_block.html?.v=9

I am still not sure about all the implications of the deal but I do regard the core tax prep biz as a valuable franchise...

JT :-)
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