We have confirmed the comment that mentions the Deloitte Holiday parties going down in the lunchroom. According to our source, this makes two years running that D has thrown it down in the caf which was a step down from the epic ’07 rager at the Waldorf. It’s not that nice of a hotel anyway.
Personally, we were hoping that Barry Salzberg was going to encourage everyone chip in and build the location of this year’s festivities with their bare hands but it might be too late to get that project started. Maybe next year.
Obviously this is less than ideal because 1) it’s definitely not a full bar and 2) instead of catering you’ll have to choose between what you think is salisbury steak and chicken a la king.
As far as atmosphere, we will admit that this is less touristy than TOTG but still. And what about the poor saps in Parsippany? Training rooms A – C? Jesus. Nothing better than crushing beers in the room where you were introduced to the FASB Codification.
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Deloitte’s New San Francisco Office Will Be Cooler Than Yours
Sayeth San Fran managing partner Mark Edmunds.
He told the SF Business Times, “The cool factor will be very high,” so maybe we’re taking his statement slightly out of context. Presumably, “high cool factor” not only means that there won’t be tight security on bathrooms and they’ll allow pictures in your respective cube but it sounds as though there will be a faux-Starbucks available and a theater so you can listen to Barry Salzberg talk about diversity in surround sound.
The new office — nine floors in San Francisco’s newest office tower — represents not only a change in address, but an evolving philosophical transformation in how Deloitte serves its clients. Instead of private sanctuaries where partners retreat to pore over financial statements, the new environment will be all about collaborative spaces, Starbucks-like cafes and enclaves with the latest video conferencing technology. There will be a theater-style “learning center” that can hold groups of up to 200.
Deloitte recalculates headquarters [SF Business Times (partial subscription required)]
Insider Trading Charges Throw a Wrench into Former Deloitte Employee’s Plans for Sexy Mobile App
[caption id="attachment_22306" align="alignright" width="260" caption="Drew Altizer Photography via The Bay Citizen"]
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Having a nice Friday evening, Going Concern faithful? Wonderful. Ordinarily, we would leave you to your weekend activities but something came to our attention that simply couldn’t wait.
Earlier in the week, we told you ��������������������, the former Deloittians who were charged with insider trading by the SEC. Arnold and Annabel were giving tips to Annabel’s sister, Miranda Sanders, and her husband, James, who traded on the information. The SEC alleges that the scam amounted to approximately $23 million in gains for everyone involved.
For all intents and purposes, Arnold McClellan probably was your run-of-the-mill tax partner at Deloitte until he opted to use his insider knowledge to make some money for himself and his in-laws. Likewise, you might expect that Annabel was just a humdrum Deloitte employee who landed a partner (he’s 13 years her senior) who got involved in a insider trading scam. But someone sent us a link to a report in the Bay Citizen that informs us that she had a very interesting venture in the works.
You see, Annabel left the firm (exactly when, is unclear) after working in the London, San Jose and San Francisco offices and presumably was ready to be a stay-at-home mom. When that became monotonous, she and a friend figured they would take their interest in knockin’ boots to launch a mobile app called “My Nookie.”
The website for the app has been taken down but the Bay Citizen was able to get a lot of the details:
The “about” tab for McClellan’s website details a vision for a new kind of social networking site:
My Nookie
Friends love to talk about sex and My Nookie is the app your sex life and social life can’t be without. Journal and rate your partners and sexual encounters. Share sexperiences with your closest friends, take sexting to the next level and relive your rendezvous with those five star partners.
Fun and tasteful with activity illustrations, My Nookie is fully loaded with features to flirt, play, tease and share. Feeling adventurous? Shake your phone and dare to try something new. Keep it handy on your iPhone because you never know …..
Features:
• Detailed diary of your sexual activities with date, partner, location, ratings and notes
• Partner contacts with profile, including photo, rating, activities performed, notes and tally
• Sex activity illustrations and descriptions, with the option to add your own
• ‘Shake It’ feature which suggests an activity to try
• Personal profile with ‘nookie’ summary
• Share all or some of your entries, partners, and profile
• Send a sexy invite to a partner or potential partner with alluring pictures
• Email, text or call your partners right from the app
What happens in My Nookie stays in My Nookie with optional pass code lock and discreet mode.
The Bay Citizen reports that My Nookie isn’t available in Apple’s app store (frankly, we’ll be surprised if passes Steve Jobs’s sniff test) but they have some screen shots (examples are on the following pages).
Unfortunately, now that Annabel has legal troubles to contend with, the Citizen reports her partner in the My Nookie venture, Milly Hanley, has taken over the project entirely. Arnie’s lawyer stated that he wasn’t involved with this venture while Annabel’s counsel simply stated that My Nookie was unrelated to their involvement and referred the Citizen back to Ms. Hanley who claims she can’t recall how she met Annabel.
The story around the McClellans is even weirder the more we poke around. Andrew Ross quotes a source in the San Francisco Chronicle:
“While they’ve been described as socialites, they’re definitely not at the top of that heap. I think a more apt description is they were attempting to scale the social heights.”
According to a report Wednesday in the online Bay Citizen, “in recent weeks, citing vague legal troubles, the couple had told friends that they were considering moving their family, which includes two school-aged sons, to South Africa.”
Perusing around a little bit more, Annabel’s Facebook page seems pretty locked up (definitely not accepting new friends) and we found the blog “My Nookie” which has the same feel as the mobile app and was started by “three friends in our 30s and 40s,” the third woman possibly being Jeanette Harris, who, the Citizen article states, hosted a benefit last year with the other two women.
From the blog’s “About Us” page:
We’re three friends in our 30s and 40s who realized that somewhere between meeting our husbands and getting married, we clammed up when it came to talking about our sex lives. MyNookie.com is where we can open up about everything we’re thinking about when it comes to sex and sexual health. And it’s where you can turn to for creative solutions and accurate information—because sex is too important to feel like you’re missing out.
Sure sounds like it could be our three amigas, doesn’t it? So with these developments, this story has gotten exponentially more interesting. We invite anyone with knowledge about the situation to email us and we’ll keep you updated as we learn more. Oh, and be sure to leave your thoughts on the app in the comments. Ms Hanley is probably looking for feedback.
It’s Ridiculous to Think That Enterprise Financial Dismissed KPMG Because of the Restatements
KPMG has been kicked to the curb by Enterprise Financial according to an 8-K that was filed on Friday by the company. The ubiquitous claim of “no disagreements with [insert firm]” was there along with a mention of a material weakness that was related to the restatements issued for both 2008 and 2007 but that couldn’t possibly have anything to do with the dismissal of the auditors:
In connection with the identification of the loan participation accounting error described in Item 7, Management Discussion & Analysis and in Item 8, Note 2 of the consolidated financial statements and elsewhere in the Form 10K dated March 16, 2010, the Company also determined that a material weakness in its internal controls over financial reporting existed during the periods affected by the error, including as of December 31, 2008. The Company’s management concluded that the material weakness was the Company’s lack of a formal process to periodically review existing contracts and agreements with continuing accounting significance. To remediate this material weakness, during the fourth quarter of 2009 the Company implemented a formal process to review all contracts and agreements with continuing accounting significance on an annual basis. As a result of the review conducted in the fourth quarter, management did not identify any other errors in its previous accounting for such contracts or agreements. Management believes that this new process has remediated the material weakness in the Company’s internal control over financial reporting.
So in other words, “Yeah, maybe we should have been looking at these contracts but we weren’t and so some material misstatements slid through. We’ve slapped some duct tape on it and it’ll be fine from here on it. End of story.”
The esteemed pleasure of auditing Enterprise now belongs to Deloitte who has now snagged three clients from KPMG this year (by our count) – picking up Jefferies and Select Comfort back in March.
Enterprise Bank parent dismisses KPMG [St. Louis Business Journal]