Douche(s) of the Day
From CFO Magazine “The former CFO and former CEO of small, privately-held software company Entellium Corp, were charged with wire fraud for overstating revenue to help them secure financing.” The fraud included defrauding investors by faking revenue figures in order to obtain financing. $50 million was raised on bogus books. Entellium is based in [...]
Continue reading...Sad Guys on Trading Floor
Wednesday, October 8, 2008
This is pretty sad or funny, depending if you have a sense of humor or not.
Continue reading...Best Practices For Internet Advertising
Wednesday, October 8, 2008
Here is a pdf document of revenue cycle best practices as put out by IAB (Internet Advertising Bureau). Covers a lot of ground including: RFP Stage Proposal Stage Insertion Order Stage Delivery and Optimization Stage Collection Stage The pdf isn’t perfect but is a good primer to the types of issues both ad operations and finance deal with when managing [...]
Continue reading...Advertising Seen Key in Soothing Nervous Investors
Wednesday, October 8, 2008
Interesting New York Times article here about how advertising is playing a key role in calming the nerves of investors. “In advertising, many financial institutions are racing to reassure consumers with soothing messages — that focus on important “S” words: strength, safety, stability, security.” - New York Times WAMU’s website advertises “WAMU and Chase. Safe and Secure”. [...]
Continue reading...Need Cash? - Tap Your Foreign Sub
Tuesday, October 7, 2008
Those nice folks at the IRS and Dept of Treasury have eased cash repatriation rules so that parent companies domesticated in the US can access their sub’s cash without harsh tax penalties (35%). There are limitations and the usual yada yada but in short, the IRS is allowing subs to lend cash to their [...]
Continue reading...How CFOs Should Prepare For More Bank Failures
Monday, October 6, 2008
CFOs and Treasurers should be getting sweaty palms at the thought that what happened to WAMU or Indy Mac could happen to them. Let’s say you wake up one morning to find that your commercial bank is headlined in the news as a possible casualty in this financinal crisis. What now? [...]
Continue reading...Hired and Fired
Saturday, October 4, 2008
America’s second largest mall owner, General Growth (a REIT that owns such properties as Boston’s Faneuil Hall) bulleted their CFO, Bernard Freibaum, after he dumped a bunch of the Company’s stock. When I say a bunch, I mean a crap load - 2.95 million shares at a current market value of $30 mil, approximately. Obviously, [...]
Continue reading...Bailout Vote Count
Saturday, October 4, 2008
Here it is by State. Paulson better get American taxpayers INCREDIBLE pricing on the mortgage crap he’s buying with our shekels… This “bailout” is by no means fool proof in my mind…significant write offs will continue even after the gov’t buys these distressed assets.
Continue reading...The End Of PTO Policies?
Saturday, October 4, 2008
Some companies like Netflix are doing away with PTO altogether. PTO policies are abused day in and day out by employees around the country and human resource departments are tired of policing them. If a company decides to do away with a PTO plan, the benefits are essentially: 1) the Company no longer has to carry [...]
Continue reading...Don’t Blame Accounting
Tuesday, September 30, 2008
I don’t know why the finance sector is pointing the finger at mark to market accounting as the culprit for dumb lending practices. I think it’s ridiculous. I’m happy to hear Big 4 firms like E&Y telling these fat cats on Wall Street to go shove it.
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Thursday, October 9, 2008
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