So all that fuss over at Colonial Bank? Accounting irregularities, natch. According to Reuters, “Colonial BancGroup Inc (CNB.N) said it faces a criminal probe by the U.S. Department of Justice (DoJ) related to accounting irregularities at its mortgage lending unit, and the struggling lender warned it may be put under receivership.”
The SEC is also taking a peek at the bank’s participation in TARP. Book cooking for taxpayer funds may have its poster child. Top notch, Colonial. Top notch.
Colonial BancGroup faces criminal probe, FDIC action [Reuters]
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In Case You’re Feeling Frustrated This Monday, We Made You Some Ecards
- Adrienne Gonzalez
- November 18, 2013
Usually I'm loathe to share over-shared memes but somehow someecards still manages to be funny […]
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It’s Hard Convincing People to Use Lame Internal Social Networking Sites
- Caleb Newquist
- August 14, 2009
We’ve covered the whole social networking thing on a couple of different occasions, including the new kid on the block, HubStreet, which will allow you to keep yourselves isolated from the bottom feeders in your professional social scene (at least virtually).
A reader who was a former Green-dotter informed us about that firm’s attempt to develop an internal social network known as Dstreet. This was clearly a priority within the Firm, according to our source:
More, after the jump
When I was wrapping up my sentence there, they were trying to get everyone to join up to their internal social networking site – Dstreet. As if that is what we wanted to do after working there 12 hours. After I got my third email asking me to update my profile for my promotion to manager (I hadn’t even set up a page yet and already I have to update it!), I set up a joke profile complete with picture of myself with huge 80s hair…I told people about it at my going away party and no one had seen it (it had been posted for 2 months)…complete waste of time!!
Apparently the Big 4 Horsemen of the Apocalypse are hell bent on trying to re-invent the Facebook-wheel because to our knowledge, all the firms have some form of an internal social networking site it sounds like they all suck.
At the very least, we would suggest that status updates be allowed so that all your connections can get real time updates on how close you are to quitting for the umpteenth time.
If your firm is failing miserably at developing an internal social network or has developed anything else that seems to be of little use, let us know in the comments.
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By the Time Everyone is Converted to IFRS, We Won’t Need Roads
- Caleb Newquist
- September 18, 2009
Remain calm IFRS fanboys and girls. You’re probably sick of our piss-poor attitude with regard to progress on anything remotely related to accounting rule convergence.
Well now you can tell us to suck it as the better-late-than-never anointed Chief Accountant, James Kroeker because he, “assured a roomful of accounting experts that the roadmap is on track,” according to CFO.
Continued, after the jump
We’ll give Kroeker credit for not using the economic crisis as an excuse like every other talking head or bureaucrat in the universe. No, his turning the tables, “Kroeker noted that the crisis may have, in fact, underscored the importance of IFRS. That’s because the discussions related to the credit crunch were global in scope, as were the responses and potential solutions, he added.”
Small issue: Kroek did admit is that even though a few companies could probably be coverted by 2011, most wouldn’t be required to do so until 2016. That’s all very nice but we’re sure we’ll all be driving flying cars by then.
Global Standards Alive and Kicking, SEC Accounting Chief Says [CFO]