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September 27, 2023

Accounting News Roundup: Billion Dollar Settlements Ain’t So Bad; Grant Thornton’s M&A Frenzy; Networking for Introverts | 08.22.14

Bank of America’s $16 Billion Mortgage Settlement Less Painful Than It Looks [DealBook]
We've heard this before: "The Justice Department said on Thursday that it had so far recovered nearly $37 billion from big banks for their role in selling shoddy mortgages before the financial crisis. Such a large number — intended to deter misdeeds in the future — suggests that Wall Street is being made to pay for its role in stoking the subprime debacle. Yet the financial pain inflicted by the settlements may not be as great in the end."

Grant Thornton Bolsters its International Presence Through M&A [AT]
22 transactions in the last 10 months across 
Canada, Taiwan, Vietnam and Switzerland.

CPAs have opportunities in financial planning and forecasting [JofA]
According to a recent survey, only 1 in 3 accountants 
provides forecasting and financial planning services.

CNN: The Accountant Who Runs a News Business [HP]
Here's CNN's old CEO bitching about John Martin, the CEO of Turner Broadcasting and former EY accountant: "
Like most news guys, I have great distain for accountants. I often quote from Thomas Mann's Buddenbrooks, a character who says he knew Buddenbrooks would fail when the company appointed an accountant as its president." 

Networking for Introverts [HBR]
I'm sure more than a few of you will find this use

A six-figure salary still means you're rich [Vox]

FIT student discovers cocaine in her luggage [NYP]
An exciting start to the new semester! "
An FIT student who flew to the Big Apple to start a new school year arrived at her dorm in Manhattan, opened her suitcase — and discovered 10 pounds of cocaine inside, police sources said. The baffled 21-year-old made the stunning discovery after an airplane flight on Friday as she moved into the room and quickly called cops, police sources said. 'She said she had no idea how it got there,' a police source said. The freaked fashionista handed over the four packages of blow — which had a street value of $150,000, police sources said."

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