Archive | October, 2008
Iceland Might Declare Bankruptcy
This is crazy…apparently Iceland’s government may declare bankruptcy if it doesn’t get the $2.1 billion in aid it’s asking for. The Fed has been on a tear lately buying up all of Wall Street…seems like the Fed should consider buying up countries as well. Though I’m not sure what Iceland has to offer…oil?
Continue reading...Nepal Royal Family Is Royally Screwed
27. October 2008
This is almost too good to be true. The government run electric company of Nepal is hitting the ex Royals with some good old fashioned collection muscle. Apparently, the ex Royals haven’t paid their electricity bills in years and have 15 days to make good before they lose power to their plethora of mansions and summer [...]
Continue reading...Corporate Bonds Looking Hot And Sexy
26. October 2008
If you’re a Treasurer who feels like making some ballsy moves in the market, you should give corporate bonds a look. With a flight to safety and high quality investments, corporate bonds are offering some serious “equity-like” returns, says UBS. Yes, there is risk…but you have some very big names like Citi, AMEX, IBM and [...]
Continue reading...The Nostradamus of Finance
24. October 2008
Have you heard of Dr. Doom…ahem, I mean, Dr. Nouriel Roubini? This guy is the grim reaper of economics…and his predictions have been spot on. Try not to shit your pants when you read his latest forecast for our economy…it will have you stocking up on water, food and ammo. Does Costco sell ammo? Yikes!
Continue reading...Accountants Always Have Jobs
24. October 2008
Accountemps just released unemployment rates for accounting related fields and the news is good (at least the stats Accountemps wants you to see are good). The U.S. unemployment rate currently stands at 6.1% and the rate for accounting related fields is a helluva lot lower. The accounting field is highly industry agnostic. Great markets, [...]
Continue reading...AIG Execs Salaries Frozen
22. October 2008
This puts a smile on my face… From Reuters - “This is to confirm that AIG has agreed to freeze any payments pursuant to the employment package of its former Chief Executive Officer Martin Sullivan in light of the attorney general’s ongoing review,” After they do that, I think the Gov’t should throw a lien on Sullivan’s [...]
Continue reading...Ticketmaster Thins Out
22. October 2008
My alma mater, Ticketmaster, has axed 5% of its staff today. Amongst the deadpool is apparently the US Controller of the Company, a position I previously reported into. TM is coming under incredible shareholder pressure as the stock price has plummeted since its August IPO and lost more than half its market [...]
Continue reading...Big 4 To The “Rescue”
22. October 2008
Like superheros called upon to save Earth, both E&Y and PWC have been deputized to provide accounting and internal control support services to Treasury’s bailout of the financial sector. At least Treasury is finally admitting that they are in over their head on these issues….
Continue reading...Yahoo Woes Continue…Layoffs Certain
21. October 2008
It seems that Jerry Yang is committing financial suicide with Yahoo’s stock price, having forced the stock price to its lowest level since 2003 (just when the stock price was rising from the internet bubble of 2000). Today, rumors abound that Yahoo is going to layoff at least 1,000 of their over 14,000 employees. Apparently, [...]
Continue reading...CFOs Asked to Combat Cyberfraud
20. October 2008
Interesting article here about how CFOs are getting tasked to combat cyberfraud due to the financial impact. This article from PC World asks CFOs to consider: – Has the company analyzed our cyberliabilities? – What’s the potential for us to be named in class-action lawsuits after a breach? – Are there valid reasons we’re collecting personal information? – What is [...]
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28. October 2008
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