Filed in archive risk
by leon on July 16, 2008
How bad has it become at the once all-powerful General Motors?It was only the other day that the company's embattled chief executive Rick Wagoner was dismissing rumors of bankruptcy, claiming...
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Filed in archive markets
by leon on July 15, 2008
The bailout of Fannie Mae and Freddie Max continue to raise questions.The US government's plan to rescue Fannie Mae and Freddie Mac got the initial tick. The big investors supported a $US3...
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Filed in archive risk
by leon on July 15, 2008
How vulnerable are Web 2.0 applications to hackers and cyber crooks?It's a question worth considering. Web 2.0 is designed to maximise participation, information sharing and collaboration. Web...
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Filed in archive risk
by leon on July 14, 2008
Back in March, we saw the bail out of Bear Stearns. But the US Treasury and US Federal Reserve rescue plan for Freddie Mac and Fannie Mae is much more serious and problematic. Bear Stearns was just a...
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Filed in archive markets
by leon on July 14, 2008
With Delta Air Line shareholders to vote in September on the prospective merger with Northwest Airlines, creating America's biggest airline, concerns are being raised about how anti-competitive...
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Filed in archive markets
by leon on July 12, 2008
An alarming survey from credit insurance giant Atradius.The 14-country survey found that a vast majority of companies, particularly those in the US, were expecting an impact down the track than what...
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Filed in archive Accounting
by leon on July 12, 2008
A case in the Pennsylvania Supreme Court in a case involving PricewaterhouseCoopers could set a precedent for accountant liability.At the center of the case is the creditor's committee for the...
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Filed in archive markets
by leon on July 11, 2008
Those ratings agencies have been bad.According to a Securities and Exchange Commission study, reported here, the agencies were assigning top ratings to junk investments, and the analysts knew exactly...
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Arms dealer BAE might be vowing to clean up after the Saudi bribery scandal but trouble is not going away.Swiss authorities have expanded their investigations into BAE following allegations that the...
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In another sign that the administration is easing up on its fight against corporate crime, the US Justice Department is backing off from its hard-line that forces corporations to turn over...
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Filed in archive strategy
by leon on July 10, 2008
Is the end nigh for the US auto industry. Will the big three turn into two?That's the question raised by The Economist as it ponders the fate of GM, Ford and Chrysler. GM's stock has fallen...
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Filed in archive Accounting
by leon on July 09, 2008
Interesting piece in CFO.com about the Securities and Exchange Commission round table about fair value. The session is expected to be a nuanced affair, which is hardly surprising given that the big...
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Filed in archive risk
by leon on July 09, 2008
You would think at a time when the world is aware of the effects of climate change, that companies would be getting ready with some risk analysis. Think again.A new report from the Economist...
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Filed in archive Ethics
by leon on July 08, 2008
Australian tax authorities have enlisted the aid of the US Internal Revenue Service to pull in Crocodile Dundee star, millionaire Australian actor Paul Hogan, for tax liabilities, according to news...
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Filed in archive risk
by leon on July 07, 2008
Another sign of desperate times! Expect a record number of arson incidents with the growing number of mortgage defaults, reports Bloomberg.Still, you would have to ask why people would do it when, as...
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Filed in archive risk
by leon on July 07, 2008
Some 12,000 Americans lose their laptops at airports every year, according to a Ponemon Institute study reported here.Still, let's get it in context. The study was sponsored by Dell which is...
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Filed in archive markets
by leon on July 04, 2008
This interview with financier George Soros in Stern magazine makes depressing reading.We are not only in the midst of the worst financial crisis in 30 years, says Soros. It's going to get a lot...
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Filed in archive risk
by leon on July 04, 2008
Ratings agency Moody's has admitted that it incorrectly graded several European mortgage debt instruments because of a computer bug.The agency admits that it incorrectly gave its highest AAA...
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The Siemens saga goes from bad to worse. Already under investigation in Germany and by the US Securities and Exchange Commission (SEC) and Department of Justice, the company has been hit with charges...
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Filed in archive SOX
by leon on July 03, 2008
When Sarbanes-Oxley was introduced nearly six years ago, it was supposed to improve the way audit committees and companies handled risk. Think again.Most companies are struggling to deal with risk,...
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Filed in archive SOX
by leon on July 02, 2008
Plenty has been written about Sarbanes-Oxley being a licence to print money for accountants. But it's also done wonderful things for the shredding business, according to this news report.Since...
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