• Goldman, Buffett Team to Aid Small Businesses – WB says some small business need some help with certain things, ‘Sometimes people lack basic business skills, like accounting.’ Accounting and folksy sexual innuendos? He’s already got it figured out. Take note people. [WSJ]
• How to Wreck Your Company’s Valuation – Step 1: Hire an auditor of questionable ethics. [CFO]
• Lions Ex-Stadium, Once Super Bowl Host, Sells for $7.25 a Seat – Or $583,000. [Bloomberg]
• Chance of Great Depression Now 5%… – 20 to 1? Takers? [Brad DeLong]
Related Posts
Preliminary Analytics | 10.13.09
• Business Fends Off Tax Hit – “Lurking behind the tax debate was the administration’s need for new sources of revenue to fund its increased spending. Jason Furman, a White House economic adviser, made that point clear at the end of a session with a dozen or so lobbyists in March. Catherine Schultz, head of tax policy at the National Foreign Trade Council, who was at the meeting, says Mr. Furman basically told the group: ‘We need the money.'” – So, that’s a bit of a problem. [WSJ]
• CIT Says Chief Executive Peek to Resign, Effective Year End – The board knew something was up when Peek showed up to work yesterday with a Fu Manchu. [Bloomberg]
• Schwarzenegger Signs Bill Creating Harvey Milk Day – Good job Arnie but state employees still have to work and will now receive OT. IOU’s should work. [NPR]
• AIG to sell Taiwan insurance unit for $2.15 billion – “The sale of Nan Shan Life on Tuesday was another step in AIG’s effort to repay U.S. taxpayers after the government injected $80 billion into the company, but the insurer faces two more sales processes in Asia and others across the globe.” We lost count on what they’ve paid back but we’re guessing they owe somewhere in the nabe of a shitload. [Reuters]
• So Much Auditor Litigation Makes For Strange Bedfellows – Uncle Dangle has some interesting problems re: Merrill Lynch and BoA that they would prefer just went away. [RTA]
Preliminary Analytics | 11.16.09
• Study Suggests Accounting for Contingencies Needs Help – Environmental liabilities aren’t reflecting the actual cash paid. [Compliance Week]
• Bankruptcy Rise Slows With Thaw In Lending – “Now corporate failures have slowed, as companies once on the verge of default have found a new life. These companies are now refinancing their balance sheets with new debt, pushing out maturities on existing loans or using distressed-debt exchanges to avoid a bankruptcy filing.” [WSJ]
• GM to begin repaying government loans – “[GM] reported a positive operating cash flow of $3.3bn, but cautioned that this would not be repeated in the fourth quarter and that its cash reserves would be ‘materially lower’ at the end of the year.” [FT]
• Xtremely restless: Recession intensifies Gen X’s ‘middle child’ syndrome, urge to job hop – Let’s just blame everything on the recession, shall we? [CT]
• Should paid sick days be the law? – Or maybe going to work sick should be against the law. [NYDN]
Preliminary Analytics | 01.11.10
• Geithner Had No AIG Role, Says Official – Said official is Tom Baxter, General Counsel of the New York Fed. TB says that the situation ‘did not warrant the attention’ of TG. End of story. Darrell Issa isn’t buying what Bax is selling and has invited him to speak on the Hill about it later this month. Set the DVR. [WSJ]
• Geithner Has Support of Obama, Democratic Lawmakers, Aides Say – Until he doesn’t have it, which could be any day now. [Bloomberg]
• Banks Brace for Bonus Fury – “Critics of Wall Street firms are grumbling that this year’s bonuses are far too generous. But some recipients are none too happy, either: They’re complaining too much of the payout is coming in stock instead of cash.” [WSJ]
• Investor Alwaleed says Citigroup “on right path” – As long as his highness is convinced, there’s no reason the rest of us shouldn’t feel better. [Reuters]
• Did you donate for tax breaks? IRS wants proof – Such a bunch of sticklers. [CT]