As we mentioned in the prelims, today is Martin Luther King, Jr. Day and we’re assuming that nearly all of you are serving clients today as opposed to enjoying a day off observing the holiday as you see fit.
While it may cause some bellyaching among the newbies, the more seasoned of you have come to accept the fact that because it’s busy season, you are expected to work today.
So let this function as the sounding board for your frustration or acceptance of working today while many are not. Since we’re feeling nostalgic, we’ll hang in there with you today (as long as possible anyway).
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Madoff Feeders Getting Some Unwanted Attention
The SEC, feeling confident these days, has filed a complaint against Cohmad Securities Corporation and its Chairman, Chief Operating Officer, and one of the brokers, saying they “actively marketed Madoff investments while ‘knowingly or recklessly disregarding facts indicating that Madoff was operating a fraud.'”
Call us Captain Obv but that sounds like they were either dumb or in on the scam. Either way, they can’t be too psyched about it.
An additional complaint has been filed by the SEC against Stanley Chais, an investment adviser who put all of the assets he oversaw into casa de Madoff.
Irving Picard, who might have the most thankless job in America, also sued both Cohmad and Chais, because, you know, a few people want their money back. The trustee’s complaint against Cohmad spells it out:
The trustee’s lawsuit asserted that fees paid to Cohmad by Mr. Madoff were based on records showing the actual cash status of customer accounts — the amounts invested and withdrawn — without including the fictional profits shown in the statements provided to customers. When a customer’s withdrawals exceeded the cash invested, Cohmad’s employees no longer earned fees from that account — even though the customer’s statements still showed a substantial balance, according to the lawsuit.
This arrangement indicated that Cohmad and its representatives knew about the Ponzi scheme and knew that the profits investors were allegedly earning were bogus, according to the trustee’s complaint.
Good luck explaining that.
Brokerage Firm and 4 Others Sued in Madoff Case [New York Times]
Fill Wrap Up and Final Performance Review
For you duffers out there awaiting our Fill wrap up, we’re sure that your anxiety levels have reached such a level that you gave serious consideration to holding up the nearest drug store to get your mitts on some Zoloft. Fortunately, your patience has paid off as this post will wrap up our Fill coverage and also serve as official final performance review.
Thank the Maker that this one is over. Fill managed to shoot another +4 round yesterday to finish at +12 for the tournament and lock up his quest to not finish second at the PGA Championship. The silver medal went to…Tiger Woods unexpectedly but we’ll let the sports geeks dissect that one.
As for us, we’re here to give you Fill’s final 9 box rating and to give you an idea of what his future with the Radio Station looks like.
Check out the final rating after the jump.
As you can see, no final 9 box rating was necessary. Fill’s future is as bright as ever. He will continue to do grip n’ grins with Tim Flynn and he will need to use dumptrucks to transport all of his cash. This all will occur while he has consistently disappointed on the golf course but thrived as a billboard for the Radio Station by pulling a hat down on his melon.
Hmmm, an underachiever but consistently rewarded. Sound like anyone you know?
Earlier:
GC Weekend: Fill Has Broken the Mold
GC Weekend: Following Fill at the PGA Championship
Problem of the Day: Boring Repetitive Work Papers
A reader pointed out a problem that plagues many of you in the number crunching universe: writing work papers, emails or other documentation that are incredibly boring and repetitive.
We’ll take that a step further and put it out there that speaking styles among accountants also take on a certain, shall we say, monotony.
More, after the jump
Nearly all accountants’ writing and speaking styles include these words or phrases:
• As such
• Notes
• Pretty straight forward
• Let me know if you have any questions
• Circle back
Clearly, accountants are not English majors. Short of putting a thesaurus on everyone’s desk, we’re not really sure how this can be remedied. Inserting the occasional curse word can add some shock value but this attempt to spice things up may be short-lived depending on your co-workers tolerance for vulgarity.
The list above is obviously not a complete one. Discuss in the comments the most annoying language that you see or hear on a daily basis and if you’ve got suggestions on how to make your day to day interaction more exciting, we’re all ears.