Law firm Wachtell, Lipton, Rosen & Katz is again at the center of a massive and controversial CEO payout, representing the board of Home Depot Inc.that gave its departing boss a $210 million goodbye.

Wachtell's work for Home Depot marks the third time in recent years that it gave advice to boards during other large payout controversies, including executive ousters at Morgan Stanley and the New York Stock Exchange.

Home Depot confirmed Wachtell is representing its board. Wachtell, a respected New York city corporate law firm led by prominent takeover attorney Martin Lipton, did not respond to a call seeking comment on Home Depot.

The home improvement retailer said on Wednesday that Chairman and Chief Executive Robert Nardelli had resigned after a year of heavy criticism of the company's underperformance and Nardelli's pay package. The company also found past problems with its stock option grants.

Nardelli's $210 million exit package sparked widespread criticism and thrust Wachtell back in the CEO pay spotlight.

Martin Lipton was also chairman of the legal-advisory committee of the NYSE, where former Chairman Richard Grasso was forced out in 2003 after a furor over his $187.5 million pay package.

Two volunteers for the US-based No More Deaths faced prosecution last year for aiding illegal immigrants they found in need of emergency medical attention in the Arizona desert, though the charges were dismissed in September. The advocacy group works to reduce the number of migrant deaths in the desert and the two workers were arrested while attempting to transport sick migrants to a medical clinic; the workers said they were following a protocol approved by the US Border Patrol when they were arrested which involved checking with a lawyer and a doctor before transporting migrants to medical facilities.

The dawning of a new year for many is an opportunity to wipe the slate clean and resolve to do more in the months ahead—lose more weight, be more generous, and, of course, make more money. Unfortunately scammers of all stripes will be seeking their own fortunes in 2007, often by preying on the public's general affinity to get something for nothing.

Fraud appears in many ways and robs innocent victims of billions of dollars every year. Mortgage fraud alone is estimated to have cost $1 billion in 2005 and is expected to be a continuing problem in 2007—a recent analysis shows mortgage loan fraud reports rose 35 percent in the past year. Internet fraud last year cost victims $183 million, much of it through bogus online auctions and the non-delivery of goods.

As the new year emerges with its infinite possibilities, add another resolution to the mix-resolve not to be a victim. Don't fall for scams designed to steal your identity or your money. Be vigilant with your personal data, know what scams are lurking, and be mindful of the golden rule "If it looks too good to be true…," which happens to have its own website: lookstoogoodtobetrue.

Here is a short list of scams to be aware of. It is by no means complete, but offers a glimpse of ways scammers try to take what is yours. More information can be found on our Common Fraud Schemes page and at LooksTooGoodToBeTrue. Meanwhile the Internet Crime Complaint Center (IC3) keeps a running list of emerging Internet scams.

The links below describe different types of fraud and offer tips on how to protect yourself:

Telemarketing Fraud: When you give personal or financial information to unknown callers, you increase your chances of becoming a victim of fraud.

Nigerian Letters or "419" Fraud: A letter, often mailed from Nigeria, offers the recipient the "opportunity" to share in a percentage of millions of dollars.

Identity Fraud: The sources of information about you are so numerous that you cannot prevent the theft of your identity. But you can minimize your risk of loss by following a few simple hints.

"Ponzi" Scheme: A Ponzi scheme is essentially an investment fraud wherein the operator promises high financial returns or dividends not available through traditional investments.

Internet Auction Fraud: Understand as much as possible about how an auction works, what your obligations are as a buyer, and what the seller's obligations are before you bid.

Scams Targeting Senior Citizens: The elderly are targeted for fraud for several reasons: they are more likely to have a "nest egg," they are typically more trusting, and they are less likely to report-or realize-they have been scammed.

Mortgage Fraud: It's one of the fastest growing white-collar crimes in the U.S. We list seven common mortgage loan fraud schemes, including "flipping," when property is purchased, falsely appraised at a higher value, and then quickly sold.

Combating major white-collar crime is one of the FBI's top priorities. You can learn more about our efforts on our White-Collar Crime page. And you can do your part to help us by being vigilant and not falling for promises of quick riches in 2007.

President Bush says the new year brings new opportunities for progress, and he is looking forward to working with the new Congress.

"The Congress has changed. Our obligations to the country have not changed," he said. "Tomorrow, members of the 110th Congress will take their oath of office and I congratulate them. I welcome their arrival into town. I am looking forward to working with them."

President Bush says he is encouraged by what he says have been productive meetings with leaders from both parties. He says it is time to set aside politics and focus on the nation's future.

Democrats won control of both the House of Representatives and the Senate in November elections that focused largely on voter discontent over the war in Iraq.

With the president preparing what he says will be a new way forward in Iraq, Democratic leaders plan to start their legislative agenda with domestic issues, including a higher minimum wage.

President Bush says the new Congress should make sure it spends the people's money wisely. He says legislators should reform the federal retirement program and subsidized medical care.

He wants Democrats to give him a line-item veto and to rein in spending on legislative earmarks that direct money to specific projects in members' districts, a tactic that has come to be known as pork-barrel politics.

"One important message we all should take from the elections is that people want to end the secretive process by which Washington insiders are able to get billions of dollars directed to projects, many of them pork-barrel projects that have never been reviewed or voted on by the Congress," he said.

The president says he will send Congress a five-year budget proposal that will balance the federal budget by 2012. He says his proposal will restrain spending, but will continue to fund the fight against terrorism.

An Egyptian man holds a photograph of Iraq's late president Saddam Hussein during a condolence service held at the local lawyers syndicate in Cairo, 3 Jan 2007
An adviser to Iraqi Prime Minister Nouri al-Maliki said Wednesday that an individual has been detained and is under investigation for having made the video of Saddam's execution.

The identity of the person detained has not been released.

The film had poor audio and grainy pictures, but clearly showed the former Iraqi strongman at the gallows and then in some Internet versions, falling through the trap door and hanging to death.

In the accompanying audio, persons in the room could clearly be heard shouting taunts at Saddam in his last moments, telling him to "go to hell" and chanting the names of two Shi'ite rivals of Saddam. The former dictator shouted back at them, "Is this how you show your bravery as men?" and told them to "go to hell."

The Iraqi government announced Tuesday that it was launching an investigation into the matter. Only about 17 people were present in the execution chamber.

Munqith al-Faroon, one of the prosecutors in the trial that sent Saddam to the gallows, was a witness at Saturday's execution. He told an Arabic-language television channel that only two officials had camera phones in the room and that he knows who they are but would not name them to the press.

In earlier media reports, al-Faroon allegedly accused Iraqi National Security Adviser Mouffac al-Rubaie of being one of two people who used a mobile phone to videotape the execution. Al-Faroon later denied those reports.

The video has further inflamed sectarian tensions between Iraq's Shi'ite and Sunni Arabs. Sunnis in Iraq and Jordan have staged demonstrations since the execution, saying it was purely an act of Shi'ite revenge, and the Shi'ite-led government has come under criticism from other Islamic nations for carrying out the hanging on the morning of a major Muslim religious holiday, Eid al-Adha.

An Iraqi special tribunal condemned Saddam to death on November 5 for his role in ordering the executions of 148 Shi'ites from the town of Dujail after a failed assassination attempt against him there in 1982.

Meanwhile, there are media reports that two of Saddam's lieutenants who helped carry out the Dujail executions will be hanged soon, possibly as early as Thursday: his half brother, Barzan Ibrahim al-Tikriti, who was head of intelligence in 1982, and Bawad al-Bandar, the chief Judge of the Revolutionary Court that handed down the Dujail death sentences.

The Iraqi court that upheld the death sentences said they must be carried out by January 27. On the day of Saddam's execution, National Security Adviser al-Rubaie said al-Tikriti and al-Bandar's sentences would be carried out after the Muslim holiday, but did not specify when. Al-Rubaie said the government wanted to execute the former dictator alone, to make it a "special day" for Saddam.

WASHINGTON – Beginning Jan. 1, 2007, the Internal Revenue Service will implement revised user fees for installment agreements. For eligible individuals with income at or below certain levels, the fee for entering new agreements will not increase but remain at the 2006 level.

The Office of Management and Budget has directed federal agencies to charge user fees reflecting the full cost of goods or services that convey special benefits to recipients beyond those accruing to the general public. The installment agreement user fees have not been increased since first implemented in 1995. Increases in labor and other costs of processing have increased the cost of processing installment agreements. 

User fees for entering into a non-direct debit installment agreement will increase from $43 to $105, and the fee for direct debit installment agreements will increase from $43 to $52.

Taxpayers with income at or below established levels, based on the Department of Health and Human Services poverty guidelines, can apply and be qualified to pay a reduced user fee of $43 for establishing new agreements including direct debit installments. Information about requesting the reduced user fee will be included in installment agreement acceptance letter sent to individuals.

The fee for restructured or reinstated agreements will increase from $24 to $45 regardless of income level.