June 19, 2018

Sixteen McGladrey Partners Get to Update Their LinkedIn Profiles with Fancy New Titles

These are your new McGladrey National Industry Leaders

  • Alternative Energy – Dustin Petersen (Des Moines, IA)
  • Business and Professional Services – Barry Rosenthal (Chicago)
  • Consumer Products – Carol Lapidus (New York)
  • Federal Government – Mark Waterman (Vienna, VA)
  • Financial Institutions – Jeff Baker (Des Moines, IA)
  • Financial Services – John Hague (Chicago)
  • Gaming – Keith Stoneburner (Duluth, MN) and Bill Woodworth (San Diego)
  • Health Care – Dan Vandenberghe (Minneapolis)
  • Industrial Products – Karen Kurek (Chicago)
  • Insurance – Jim Greisch (Omaha)
  • Not-for-Profit – Bob Billig (Baltimore)
  • Private Clubs – Phil Newman (Fort Lauderdale)
  • Real Estate – Rick Edelheit (Chicago)
  • Specialty Finance – Morris Marshburn (Raleigh, NC)
  • State, Local Government and Education – Pat Hagan (Chicago)

I don't know why Gaming is currently being split between Stoneburner and Woodworth, but let's hope that Joe Adams makes them battle it out while wearing giant sumo wrestler suits for the supreme Mickey G's gaming industry leader. My money is on Stoneburner. I don't how you bet against a guy whose ancestors set rocks on fire.

[via McGladrey]

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BDO, Looking to Spread Out Some Liability, Admits New Partners

BDO_International.pngAs you probably know, BDO Seidman is having a rough year. Tax shelter prosecutions and trials for the International Global Coordination firm that now falls on the U.S. make for some big liability exposure.
The obvious solution to this conundrum? Spreading the love!

BDO Seidman, LLP, is pleased to announce that 10 new partners have been admitted to the partnership, effective July 1, 2009. Five of the new partners are in the tax practice, four are in the assurance business line and one is in BDO Consulting. BDO Seidman, LLP is a leading national professional services firm providing assurance, tax, financial advisory and consulting services to private and publicly traded businesses.”I am very proud to welcome each of these very deserving individuals to our partnership,” said Jack Weisbaum, CEO of BDO Seidman. “The key to maintaining momentum in our profession is a commitment to recruiting, training and retaining superior client service professionals. Each of these new partners is an example of our commitment to human capital development.”

What are the chances that these new partners are some of the most hated people in the firm? C’mon, $520 million judgment hanging out there, the bigwigs have to be thinking, “well, as long as we’re screwed, we may as well stick it to some people within the firm we don’t like.”
Congrats to the new partners!

BDO Seidman, LLP, Admits 10 New Partners
[BDO Seidman Press Release]

What Say You? Are Early Promotions a Crock?

corp_ladder.jpgIt’s about the time of year where the Big 4 start announcing promotions and with promotions come the inevitable debate about who got promoted, who didn’t, hating on some, congratulating others, and ugly debates over those that were promoted early.

Early or skip promotions are never short on controversy. As one source put it “[early promotions] are completely arbitrary and situational, merit generally doesn’t play into it”.

The claim will often be made that someone needs to fill an empty role on a team. Sometimes it is a purely bullshit political situation and there have even been cases where older associates are promoted early based on their age and other work experience regardless of their performance with the current firm.

In one case, another source told us about an associate that was promoted to manager in three years (i.e. promoted early twice) but it was pretty clear to the most of team (i.e. staff) that the person was hardly ready for the pressures and responsibilities of being a manager.
The other side of this debate are the professionals that are actually performing at a high enough level to warrant the early promotion (no, really). Granted the situation has to arise where the individual has the opportunity to take on greater responsibility and thus proves him or herself but if someone does step up (read: working 24/7) to the plate on several occasions, maybe the promotion is warranted.

Because of the hierarchal nature of accounting firms, this may not even be an issue in your office but it does happen with freakish regularity at other offices. Let’s us know what your office has done in the past and what is going on this summer now that were in swing of promotion season. Feel free to discuss in the comments or email us your inside info to [email protected].