Jim Turley

#TBT: That Time Jim Turley Used a World Cup Metaphor to Explain the Need for Global Accounting Standards

What can the World Cup teach us about accounting rules? (Other than rampant corruption is only real if you believe it is.) That it would be chaos if participants showed up to a global contest with their own set of rules. That's sort of what we have going on in global financial reporting, if you […]

Note to Ellen DeGeneres: Actually, Jim Turley Takes Better Selfies Than You

I mean really, is anyone surprised by this? It's not enough that Jim Turley's imposing jawline has its own place on the Accounting Today Top 100 (OK, not really), but does he also have to take better selfies than some of the hottest celebrities in Hollywood? Of course he does. Because Jim Turley.  

Jim Turley Bestows Another Rose

After Citigroup announced that Jim Turley would be joining its Board of Directors in order to give it a slightly more credible appearance, St. Louis-based Emerson Electric Co. has managed the good fortune to have JT on their BOD. Turley will serve on the audit, and corporate governance and nominating committee. For those curious, Emerson's […]

It Took a Week for Jim Turley to Find Work

U.S. government parolee, Citigroup, announced today that it's expanding its board of directors to include Gary Reiner, a former CIO at GE, and Jim Turley, EY's beloved former DJ, fashion-forward footwear-er, and Chuck Norris nemesis.  This transition is par for the course when it comes to Big 4 CEO/Chairs, with Tim Flynn and Sharon Allen serving […]

Sadly, EY’s Farewell to Jim Turley Has No Mention of a Cake Party

I'm sure EY sent him off in style on Friday, which probably includes a gold watch, a gift card, or something, but there's no mention of any festivities in the internal message that was forwarded to us over the weekend: A special message to US and Canadian Ernst & Young alumni:   We wanted to […]

Ernst & Young’s Jim Turley Is the Justin Bieber of Accounting

Do you like your firm's CEO? It's really an odd question. When I worked at KPMG, Tim Flynn was at the helm and he seemed likable enough, but I only knew him through scripted emails and one very bizarre townhall meeting at the Javits Center when Stephen Colbert showed up.  I guess the more important question […]

Big 4 Revenue Bigger Than Ever in 2012

The website Big4.com likes to put out an analysis of the Big 4 firms' revenues every year and we're pretty grateful because we sure as hell don't want to do it. That said, it's largely just a press release for all the firms to remind everyone how much they're crushing it. And although Big4.com "believes […]

The Best Part of Ernst & Young’s International Intern Leadership Conference Had to Be When Jim Turley Laid Down Some Beats

Remember earlier this month when we showed you some images from the Ernst & Young International Intern Leadership Conference? It illustrated just how E&Y rolls out the black and yellow carpet for its interns from across the globe – charter buses, gorilla hugs, and a dude in a Big Bird Yellow tux.  We've uncovered more […]

Jim Turley Has All Kinds of Reasons for Supporting LGBT Inclusion

Apologies to Chuck Norris, but Jimbo didn't mention anything about pressure from the White House when he discussed his decision to oppose the Boy Scouts of America's policy of excluding gay members and leaders from its organization at the National Gay and Lesbian Chamber of Commerce conference.  From the Windy City Times, in the order that […]

The Boy Scouts Tie Jim Turley’s Hands

The Boy Scouts of America has a difference of opinion with Ernst & Young CEO and BSA board member Jim Turley who last month came out against the Scouts' policy of excluding gays from membership or leadership. In short, "Thanks for your opinion, Jimbo, but we got this." An 11-member special committee, formed discreetly by top […]

Comp Watch ’12: Ernst & Young

From the mailbag: When are you going to start a compensation discussion for EY? Let me explain how this works – Adrienne and I are not mind readers. We cannot see you maniacally wringing your hands waiting for something to hit the wire so you have a place to bitch when you find out how […]

Jim Turley Now Faces the Wrath of Chuck Norris

I guess when Boy Scouts of America board member Jim Turley spoke out about the Scouts' policy on gay participants in its questionably straight activities (dudes in scarves hanging out together in the forest? Come on), a bunch of people got upset. It's unfortunate we as a society aren't at a point where we can […]

Caption This: What’s Going Through Jim Turley’s Head at This Very Uncomfortable Moment?

Traipsing lazily around the Internet the other day looking for old white guys to pin to Pinterest, I came across this unsettling photo of Jim Turley crammed into what appears to be a wine cellar for a photo op from New York Social Diary. Turley and the Mrs. were hobnobbing with the NY bigshots in […]

Ernst & Young’s Global Entrepreneur of the Year Awards Entertainment Cheaps Out a Bit on Special Effects

Did anyone get an invite to the Ernst & Young Global Entrepreneur of the Year Awards? Yeah, me neither. In case you don't have a Google alert set up, Dr. James Mwangi, CEO and Managing Director of Kenya's Equity Bank Limited was named Entrepreneur of the Year in Monte Carlo. EY CEO Jimbo Turley gushed, "Over […]

Ernst & Young’s Jim Turley Comes Out Against Boy Scouts’ Exclusion of Gay Members

JT's already has a sky-high approval rating inside E&Y and with this announcement it seems he's going for wider appeal:  "I support the meaningful work of the Boy Scouts in preparing young people for adventure, leadership, learning and service, however the membership policy is not one I would personally endorse," Turley said in a statement […]

Ladies: You Have Jim Turley’s Attention

Although it took a very awkward moment to get it: Even well-intentioned executives tend, often unconsciously, to dismiss women's contributions. At Ernst & Young, where 23% to 26% of leadership teams internationally are women, CEO James Turley told the WSJ conference that he was running a meeting years ago when "three or four women said […]

Getting the Story of Lehman Brothers to Broadway Should Be Jim Turley’s Post-Retirement Passion Project

Ernst & Young Global CEO Jim Turley is being recognized for his work with the National Corporate Theatre Fund (NCTF) and he wrote a blog post over at Bloomberg BusinessWeek explaining how he became such a theatre buff: “I grew up in St. Louis. From the time I’m old enough to remember, I was lucky enough […]

Ernst & Young Employees Think Jim Turley Is Doing a Bang-up Job

Ernst & Young global CEO Jim Turley will be retiring next summer and judging by the results of a Glassdoor ranking, that will be a very disappointing day, when JT steps down. According to the ranking, Jimbo has a 95% approval rating, good enough for second place, finishing behind Apple's Tim Cook. This was a […]

Mark Weinberger Will Succeed Jim Turley as Ernst & Young Chairman and CEO

Ernst & Young has internally announced that Mark Weinberger will be the next Chairman and CEO of the firm. Mark is a tax guy, currently the Global Vice Chair of Tax but has a lot of experience inside the federal government serving as an Assistant Secretary to the Treasury of Tax Policy under President George W. […]

One Ernst & Young CEO Candidate Not Shy About Asking for Help with the Application Process

I hear from a trustworthy source that exiting Ernst & Young CEO Jim Turley was recently trolled by an eager member of Uncle Ernie's family looking to steal the throne in Canada. Someone else trolling him – asking how he can apply for his job. You know he's retiring in 2 years? So during the […]

Jim Turley Stepping Down as Chairman and CEO of Ernst & Young

~ Update includes statement from Ernst & Young

This morning we learned from a couple of sources that the big guy will be calling it a career officially on June 30, 2013 and the firm will announce a new CEO-elect at some point in early 2012.


Here’s JT’s message to the troops:

I have written to all our partners to let them know about my plans to retire from Ernst & Young on 30 June 2013.

Every year, our Global Executive (GE) considers the priorities and initiatives we feel Ernst & Young should focus on in the upcoming year, and these priorities are then approved by our Global Advisory Council (GAC), the top governance body of Ernst & Young.

Periodically, we also take a longer look at our strategy and vision, and involve the GAC in this as well. In July, we informed our partners that we were beginning such a long-term strategic review. The GE and I believe that our new strategy and leadership-succession plans are inextricably linked, and we agreed that June 2013 would be the right time for me to retire.

This is a normal process and the timing has worked out perfectly. I will be 58 years old, which is the normal early retirement age for many of our partners. By then, we will be implementing our new strategy and it’s right that a new leader should steer this implementation.

We are starting a robust process to identify the man or woman who will succeed me, in accordance with our regulations. We intend to identify a new Chairman and CEO elect during the first part of 2012. What I feel very good about is that we’re the type of organization that continually develops large numbers of great leaders, so I see many men and women who could lead Ernst & Young successfully into the future.

This is not a retirement letter or speech to you all, as there is much to do before June 2013. However, I wanted to be very open with you about our plans. Thank you for your continued support as we continue both our strategy and succession-planning process.

James S. Turley
Chairman and CEO

UPDATE: Ernst & Young provided us with the following statement:

In a communication to all Ernst & Young partners worldwide on 10 November 2011, James S. Turley, Chairman and Chief Executive Officer of Ernst & Young confirmed that he will retire as planned, aged 58, on 30 June 2013. The succession process to decide a new Chairman and CEO-elect is now underway and will conclude in early 2012, no later than April.

So after riding out Lehman, handing out a lot of trophies, and inspiring the greatest lyric in the history of Big 4 employee produced videos, (I’m sure there are other accomplishments too) Jimbo will ride off into the Black and Yellow sunset. This seems like an appropriate tribute:

Feel free to leave other well wishes below.

Ernst & Young Just Gave the New York Attorney General 22.9 Billion Reasons to Feel a Little More Motivated Today

Because business is good at E&Y. Not PwC good or Deloitte good but good enough.

Ernst & Young today announced combined global revenues of US$22.9 billion for the financial year ended 30 June 2011, compared with US$21.3 billion in 2010, a 7.6% increase. In local currency, revenues grew 5.3%. “We have had a very strong year in each of our four geographic areas. We continue to see very positive reactions to the way we have globalized our organization over the last few years, our investments in emerging markets and the great dedication and commitment of our people,” said Jim Turley, Global Chairman and CEO of Ernst & Young.

Also, Jimbo says that E&Y is “focused on building lifelong relationships with our people. This ensures we have outstanding talent to provide our clients the best service wherever they do business.” So if your heart belongs to show business, fine. But your ass belongs to Ernst & Young.

[via E&Y]

Who Are the Most Influential People in Accounting? (2011)

Accounting Today released its Top 100 Most Influential People in Accounting (free registration required) late yesterday and it seems to be a tad more interesting than in years past. Sure, there are plenty of predictable names and faces in the list but any list that has Dave Albrecht, Paul Caron, and Grover Norquist is okay by me.

That said, it’s still in alphabetical order which may not appropriately present who the influenciest influencers are. I mean does sticking a man with a last name that starts with “N” and ends in “quist” somewhere in the middle of the pack (only a few spots in front of the POTUS) truly show how influential he is? It’s just a question.

ANYWAY, here are some notables that you’ll probably recognize:


Dave Albrecht – Associate Professor at Concordia College, The Summa
C.E. Andrews – President, RSM McGladrey
Paul Caron – TaxProf Blog
Stephen Chipman – CEO, Grant Thornton
James Doty – Chairman, PCAOB
Joe Echevarria – CEO, Deloitte
Michelle Golden – President, Golden Practices
Tom Hood – CEO, Executive Director Maryland Association of CPAs
Hans Hoogervorst – Chairman, IASB
Robert Moritz – Chairman and Senior Partner, PwC
Caleb Newquist – Founding Editor, Going Concern
Grover Norquist – President and Founder, Americans for Tax Reform
Barack Obama – President of the United States
Barry Salzberg – CEO, Deloitte Touche Tohmatsu
Mary Schapiro – Chair, SEC
Doug Shulman – IRS Commissioner
Jim Turley – Global Chairman and CEO, Ernst & Young
John Veihmeyer – Chairman and CEO, KPMG
Jack Weisbaum – CEO, BDO

I cherry-picked this list obviously because it’s a bit of a pain to re-type all of them, so don’t hold that against me. Still how two Swedes and two Barrys got mashed together is kind of odd. And on a more personal note, I’d really feel awful if I was the one who took Dennis Nally’s spot. Go check out the full list and discuss at your leisure.

Top 100 Influential People in Accounting [AT]

Promotion Watch ’11: Ernst & Young Admits 548 New Partners Worldwide

Still a little perplexed that I have to find this out via press release but I understand that at least some of you are beating off clients

with a stick.

Jim Turley, Chairman and CEO of Ernst & Young says, “Building the next generation of partners to lead our business is vital to our future. This year’s marked increase in numbers reflects our ongoing commitment to excellence and our confidence in the future.”

John Ferraro, Chief Operating Officer of Ernst & Young says, “These admissions are the result of a rigorous selection process and recognizes the significant contribution of each individual to our success. This is a strong vote of confidence in the leadership potential of these outstanding individuals.”

Congrats to the all the new partners at E&Y!

Jim Turley Doesn’t Seem to Be Tired of Answering Questions About Lehman Brothers

Jimbo does admit that “we are not pleased to be in the spotlight like this” but per ushe, he takes it in stride and says, “it is something that we will deal with.”


Turley Says Specifcs From Obama Need to Come `Quickly'
Uploaded by Bloomberg. – News videos hot off the press.

Jim Turley Wasn’t Impressed with the State of the Union

The Ernst & Young Global CEO chimed in di-rectly from Davos.

President Barack Obama’s State of the Union address failed to convince executives and economists at the World Economic Forum’s annual meeting that he’s serious about taming the U.S. budget deficit.

Hours after Obama used the speech to propose a partial freeze on government spending, delegates at the conference in Davos, Switzerland, said the U.S. is lagging foreign counterparts in cutting a budget deficit of more than $1.2 trillion.

“There is an unwillingness to deal with the real gorilla in the room,” said Martin Sorrell, chief executive officer of advertiser WPP Plc. James Turley, CEO of Ernst & Young LLP, said, “we need a heck of a lot more action on it” and that Obama’s speech “lacked details.”

Jim Turley Explains Why You Should Work at Ernst & Young Rather Than Facebook

JT spoke to NYU students earlier this week and of course during the Q&A, Diane Brady, a senior editor at Bloomberg threw him a softie, asking if the firm was hiring, to which Diego responded, “we’re always hiring.” This, of course brought the house down (laughs, raucous applause).

Anyway, Brady decided to throw Jim a curve and asked why a young recruit would pick E&Y over Zuckerland.

“Should students ever consider starting at a big firm of yours?” Brady said. “Why not just go out there and make the billions with Facebook? What is the attraction at Ernst & Young?”

Turley responded by saying that most entrepreneurs, despite common misconceptions, are not just out to make money.

“[Entrepreneurs] go out there to find a need,” he said. “At Ernst & Young, you have opportunities to be extraordinarily mobile and move around the world.”

His advice? “First, find something that you love doing,” Turley said. “Second, align with an organization that actually thinks about where the world is going. And lastly, find an organization that wants you to change them as opposed to them to change you.”

See, if you can’t find a need then you need care about being “extraordinarly mobile.” Seems like a fair trade-off, especially since billionaires don’t travel much.

And just curious, how would the members of Ernie’s army like the firm to change? We’re assuming JT goes with the “whatever is good for the goose” mantra. Leave your suggestions below.

Ernst & Young CEO speaks at Stern [WSN]

Jim Turley Doesn’t Think That The Financial Crisis Was Caused By Anyone Doing Anything Misleading

It turns out – without naming names (read: Dick Fuld) – the companies at the nucleus of the shit hitting the fan were just making bad business decisions. That’s all.

He also takes exception with the notion that E&Y committed malpractice.


And would like to explain exactly what the Bankruptcy Examiner does and points out that he didn’t have any problem with the accounting.

C-Suite Strategies [Fortune]

Ernst & Young Risks Alienating Acrophobic Employees in China

From Big 4 Blog:

Ernst & Young China is announcing the grand opening of its new office in China’s tallest building and premier location – Shanghai World Financial Center (SWFC) in the Pudong District of Shanghai. All of Ernst & Young’s 2,500 Shanghai people (of the 9,000 total China employees) will be one single location to help provide better services to clients and laying the groundwork for our further expansion in the China market. Prior to this, E&Y was in three different Shanghai locations.

Jim Turley managed to ignore the issue entirely saying, “Our confidence in the long term prospects in China is demonstrated in the investment in our business and our people. We currently have over 9,000 people in China, and will further grow our manpower with the business.”

Can the Month of March Get Worse for Ernst & Young?

Today in non-Lehman Brothers Ernst & Young news, the firm has been sued by a liquidator in Luxembourg just a few weeks after a Lux court ruled that individual investors couldn’t bring suits against UBS and E&Y. The suit seeks over $400 million in damages against the two firms. The Iriving Picard de Lux is Alain Rukavina, who filed the suit today.

BBW reports that “Rukavina is one of two liquidators who in December sued UBS and Ernst & Young over Access International Advisors LLC’s LuxAlpha Sicav-American Selection Fund, which once had $1.4 billion in net assets.”


A UBS spokesperson stated that this development was not unexpected and we’re sure that E&Y isn’t yawning at this news, chalking it up to fairly typical Monday.

So in case you’ve been in a coma for the last week or so, you’re probably aware that JT and Co. haven’t had such a great March. Anyone got ideas for how they turn all these frowns upside downs? Do Canadian Tuxedos become standard dress code M – F? Does Jimbo send everyone a complimentary pair of Timberlands? An E&Y Hitler video to lighten the mood? Suggestions are welcome.

UBS, Ernst & Young Sued by Madoff-Fund Liquidators [Bloomberg BusinessWeek]

(UPDATE) Jim Turley Breaks Out the Fancy Footwear for His Interview on Bloomberg

~ Update includes quote from Britt Aboutaleb of Fashionista

We meant to get to this on Friday but there was a social engagement occurring that couldn’t be avoided; you know how it is. Anyhoo, the Ernst & Young CEO sat down with Bloomberg last Friday to talk tax policy and we found a few things rather interesting. Watch and we’ll chat about some things after the jump:


First things first: How about the two hotties that Bloomberg threw at JT?

Second: why does the MSM always refer to the “Big 4” as the “so-called Big 4”? Does Big 4 carry some negative connotation in some corners of society or is it meant to be a not-so-subtle dig, like when you call the token short guy on your team “big guy”?

Third and of utmost importance: what’s with JT’s footwear? Are those Timberlands? Does he just put on whatever the wife lays out for him or did she happen to take all of his wingtips to the cobbler this week? OR did he just get back from hiking the Appalachian Trail à la Mark Sanford?

Whatever the situation is, they look like they’ve gotten some good use. We’re not sure what Jimbo likes to do for recreation but it must involve some rugged backdrops that may involve him wearing a flannel shirt and chopping wood.

Britt Aboutaleb, one of the editors of our sister site, Fashionsita, had these thoughts, “I can’t even see the shoes — they look like they’ve emerged from a swamp! Maybe he forgot the shoes he was supposed to change into after trekking through the snow? Or maybe he didn’t realize his feet would be caught on camera…”

God, we hope JT could have arranged for some car service rather than schlepping through the snow. On the other hand, maybe walking to interviews is part of a green initiative? Either way, he could have brought the shoes along and changed into them. Just a thought.

On the other, to say that this is a fashion faux-pas would be an understatement akin to saying “E&Y had a few layoffs last year.”

Are the Big 4 Laying Low at the World Economic Forum?

The World Economic Forum kicks off tomorrow and as expected, the Big 4 bigwigs will be there in full force.

Having been through their share of busy seasons, the fearless four of Jim squared, Dennis, and Tim are no doubt glad to be on this getaway.

Their hearts and minds never stray too far from all of you serving the capital markets back at home but it is a great opportunity for them to explore the land of secretive banking, blondes and Toblerones. Plus, there are some meetings and whatnot where they spread their wisdom amongst the other grand poobahs of the world.


Despite the presence of the Fab Four, Big Four Blog points out that the firms’ websites don’t hardly make a mention of their participation at the rager in Davos:

[We] could find hardly a mention of this on the firm’s websites, contrary to prior years when a press release would proudly proclaim their participation. Are the Big Four firms keeping a low profile this year? We wonder why?

Why would they possibly want to keep their profiles on the DL? Are they taking their cues from the Times? Are they still amped/disappointed by the Fortune results?

Are they nervous about their next sit down with CNN, who may not leave it there this time? Ideas? Hopefully they’ll loosen up and enjoy themselves.

CNN Says that Big 4 Business Is Blowing Up

That’s not necessarily verbatim but they’re definitely buying what the Big 4 bigwigs are selling.

If you saw the asinine CNN piece that came out on Thursday entitled “Accounting grows in shrinking economy“, you know what we mean.

The title itself should cause you to throw up in your mouth. Certainly the author of this gem, Kevin Voigt, isn’t talking about growth in revenues but he still manages to make a case for accounting industry stretrong>just that:

[T]he firms have emerged from the worst with balance sheets that would be enviable to most companies: Ernst & Young and Deloitte finished the 2009 fiscal year with flat growth, while PWC revenues were down 7 percent.

Getting nauseous yet?


Then there’s this:

[T]he Big Four firms continued to add to headcount through the recession. For example, PWC will end the year with 163,000 employees worldwide, an increase of “3 or 4 percent” from last year, Nally said. “There is a core element of what we do that continues regardless of the economy — public companies need audits, tax services need to be provided,” he said.

First, we notice that Dennis Nally conveniently left out that the ‘core element’ of services being provided is being done so with far fewer people. He makes it sound like that if you’re working in the audit or tax practices, your job is safe. We all know that’s not true.

Further, we’ll point out that E&Y did not add to their global headcount. That’s according to E&Y’s own press release for their revenue results.

It’s also interesting to note that the words “layoff” or “reduction in force” are nowhere to be found in the article. Voight manages to sneak it in with some subtlety:

Ernst & Young has kept hiring young college graduates, in part, because it wants to ensure an unbroken pipeline of talent after the crisis, Turley said.

“In a typical year, you would see 15 to 20 percent of our workforce hired away, not by our competitors, but by companies that need financial or tax or other financial talent … that process was curtailed this year because most in the marketplace weren’t hiring,” Turley said.

As a result, Ernst & Young and other Big Four firms have had selective culling of staff in some markets for performance-related issues. “We work in a high performance environment, and for those whom that environment doesn’t fit we’ve encouraged them to leave,” said Quigley of Deloitte.

“Culling of staff”? Interesting choice of words. Then Jim Quigley lies says that Deloittians were “encouraged” to leave the firm. That’s rich. Any former Deloitte people out there that would describe their experience differently?

The article also hints that — because Jim Turley said that typically, ’15 to 20 percent of our workforce hired away’ — the Big 4 had no choice to but to engage in the “selective culling of staff…for performance-related issues.”

To top it all off, Tim Flynn wasn’t even interviewed for this piece. In fact, KPMG is only mentioned ONCE in the whole article but Voight refers to the “Big 4” throughout. From the sounds of it, TF wasn’t in Singapore for the APEC and thus, probably not available (probably caddying). Just as well, if we were T. Flynn, we wouldn’t want our name included in this travesty anyway.

So gives us your thoughts on the latest Big 4 campaigning in the MSM. They make everything sound like it’s business as usual but as the discussion in our Exodus post indicates, the people on the front lines probably have a different opinion.

Accounting grows in shrinking economy [CNN]
Also see: CNN Lies: Accounting Industry Stronger Than Ever, Explosive Even [JDA]

Rumor Mill: E&Y CEO Jim Turley Is Appropriately Compensated

Thumbnail image for jim turley2.jpgMaybe! Depends on who you ask. We’re looking for opinions since we received a tip on what Jim Turley is pulling down:

Saw some info yesterday in a partner’s office. JDawg is pulling down $6 million…every year in October timeframe the partners at EY get a partner report on the “partner news network”. In this report EY shows partner information – the 5 highest paid US partners that are not in client service. So this includes generally JDawg, the AABS managing partner, tax managing partner, the Americas Vice Chair and a few other vice chairs. They started giving out this information about 4-5 years ago.

Our tip also stated that the non-J Dawg execs were pulling down in the nabe of $2.5 million.
Considering that J Dawg’s CEO duties include appearances on CNBC, being an IFRS cheerleader and eating f*(king chicken with Rahm, among other glad-handing and back-slapping duties, $6 mil makes for a nice round number.
Is $6 million fair for J Dawg? Discuss in the comments and pass along any further details you’ve got JT or other CEO salaries.

Jim Turley Traded F-Bombs with Rahm Emanuel Over Chicken Last Night

jim turley2.jpgWe’d like to think so anyway. Maybe JT isn’t a potty-mouth but Rahmbo has been known to drop a curse here and there.
JT was in DC last night with several other big wigs, at the Williard Intercontinental solving all our problems: “The participants provided updates on their businesses, discussed when the economy may rebound and offered advice on how to spur job growth.”
Right, because, in case some of you haven’t heard, we’re on a collision course with double-dig unemployment. Thank the Maker they’ve been thinking about hiring people again, “Over salad, chicken and a fruit desert, some of the business leaders said they would start hiring immediately once the economy began rebounding while others said they would wait for revenue growth in their own companies, according to one of the participants.”
This was a two hour date so it couldn’t have been all business. We’re guessing Jimbo tried to loosen everyone up with some inappropriate jokes (feel free to guess what kind) while gnawing on a drumstick like Fred Flintstone but that’s just our vision.
Give us your best ideas on what JT and Rahm talked about privately, just between buds, in the comments.
Emanuel, Jarrett Meet With CEOs From Intel, Time Warner, Dow [Bloomberg]

Jim Turley Says E&Y Is Totally On Board with This Global Accounting Standards Thing

Thumbnail image for Thumbnail image for Jim Turley.jpgReally, he said that global standards were ‘imperative’ which carries a much more serious connotation and we’d hate to sell Big Jim short:
‘It is imperative that there is one set of financial reporting standards for the world if the quality and comparability of investor information is to be protected.’
And in an amazing coinkydink, that’s what everyone at the G-20 said too:
More, after the jump

In a statement the leaders said they: “call on our international accounting bodies to redouble their efforts to achieve a single set of high quality, global accounting standards within the context of their independent standard setting process, and complete their convergence project by June 2011.”

Since so many big shots were in the Burgh, last week, JT figured he’d just put it out there that his firm was FIRST! to say, “Yeah, we’re down for redoubling our efforts! Whatever that is, we’ll do anything! Don’t know about the rest of you slackers but we’re damn proud to get on this. June 2011? No problem. Am I right people?”
Ernsters? Ready to double down? It’s imperative, you know.
Big Four firm backs G20 accounting stance [Accountancy Age]