• Stanford again seeks bail – Dude is crackin’ [Houston Chronicle]
• Blackberry users faced e-mail outage Tuesday evening, less than a week after previous outage – Speaking of crackin’. [CT]
• Citi Denies Theft Report, Says Accounts Are Safe – Apparently the Journal is in the business of publishing fake news as Citi continues to maintain that there’s “Nothing to see here.” [WSJ]
• AIG executives’ promises to return bonuses have gone largely unfulfilled – All the populist rage was totally worth it. [Washington Post]
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Preliminary Analytics | 01.07.10
- Caleb Newquist
- January 7, 2010
• Geithner’s New York Fed Told AIG to Limit Swaps Disclosure – “AIG said in a draft of a regulatory filing that the insurer paid banks, which included Goldman Sachs Group Inc. and Societe Generale SA, 100 cents on the dollar for credit-default swaps they bought from the firm. The New York Fed crossed out the reference, according to the e-mails, and AIG excluded the language when the filing was made public on Dec. 24, 2008.” [Bloomberg]
• Climbing the Finance Ladder: Landing a Promotion [FINS]
• Canadian Police Seek Man Accused of Ponzi Scheme – According to the SEC, the self-dubbed, “Chinese Warren Buffet” sent a letter to investors admitting that he was running a Ponzi scheme. That was easy. [AP via NYT]
• Economic Consequences and the Political Nature of Accounting Standard Setting – “For decades it has been taught in every graduate accounting program in the country that accounting standards have economic consequences. As a result, I contend it is natural and predictable that competing economic interest attempt a political solution to proposed accounting standards.” [The Summa]
• Accounting rules over M&A spread confusion – IFRS 3 is disappointing many. [FT]
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Preliminary Analytics | 10.19.09
- Caleb Newquist
- October 19, 2009
• U.S. Said to Target Wave of Insider-Trading Cases After Galleon – “Investigators developed at least one informant in the ring, who began meeting in November 2007 with agents from the Federal Bureau of Investigation, according to charging documents.” Feel free to speculate who’s next. The SEC is taking no prisoners apparently. [Bloomberg]
• Armageddon in Alabama Proves Parable for Local U.S. Governments – “One target of [citizens’] anger is Larry P. Langford, who was the county commission’s president in 2003 and 2004 and is now mayor of Birmingham. The 61-year-old Democrat goes on trial today, charged in a November 2008 federal indictment with taking cash, Rolex watches and designer clothes in exchange for helping to steer $7.1 million in fees to an Alabama investment banker as the county refinanced its sewer debt.” [Bloomberg]
• Family Squabbles in Hyatt IPO – Family squabbles may “disrupt our business” according to the latest SEC filings. Nothing like family spite to disrupt the expansion of the fortune. [WSJ]
• CME in informal talks to take over CBOE: report – “Informal talks” could really mean anything including that they had the chat over prime rib buffet and lap dances. [Reuters]
• For N.B.A. Owners, Background Checks Go Deep – “The [NBA’s] investigation [of Mikhail D. Prokhorov] is expected to tap into Russian police, military, diplomatic and intelligence sources, some from the former K.G.B., as well as his partners, competitors and customers.” [DealBook]
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Preliminary Analytics | 12.28.09
- Caleb Newquist
- December 28, 2009
• A Modest List of Financial Analysis ‘Red Flags’ – “Patrick Byrne is the CEO” isn’t one of them but Overstock.com does get mentioned. [The Accounting Onion]
• Tax Vox’s Lump of Coal Award: The Worst Tax Ideas of 2009 – California gets its very own spot at #4. [Tax Vox]
• War on Wall Street as Congress Sees Returning to Glass-Steagall – Bank break up courtesy of Maverick? [Bloomberg]
• How the VP of Finance at Koss steals millions – “For the year ended 6/30/09, Koss had sales of $38.2 million and profits of $2 million. For the year ended 6/30/08, Koss had sales of $50 million and profits of $4.5 million. If Sachdeva stole $20 million over the last four years, that’s $5 million per year…. and far exceeds the profits for the last couple of years. How did no one notice?” [The Fraud Files Blog]
• New security restrictions could hurt airlines – As if they needed help. [Reuters]
• Black Eyed Peas Didn’t File Tax Returns for Years – Due to ‘an inadvertent oversight’. [Web CPA]
• Gee, Who WASN’T Bribed? – This involves one large process of elimination. [The Market Ticker]
We understand that the first day back after the Christmas break could be one of the worst on the entire year. Especially if you’re one of the few actually working. We’ll check in with you unfortunate souls later today.