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November 28, 2022

Accounting News Roundup: Scamming Family; Trump’s Tax Plan; Making Friends at Work | 09.24.15

Volkswagen CEO Resigns as Car Maker Races to Stem Emissions Scandal [WSJ]
If you're just catching up on this VW thing, I suggest reading this Vox article, too. The good news for corporate governance nerds is, you'll be enjoying this story for a while. It's the only thing that's close to competing with the Pope for media coverage. VW has to feel like the walls are crumbling all around, especially when you consider the prospect of an $18 billion fine and criminal charges. I wonder if this is how it felt for Andersen at the end?

SEC Charges Two Philadelphia Area Men For Defrauding Friends And Family In Private Equity Fund [SEC, Order]
With friends like these…etc. Didn't these guys have business acquaintences they could rip off? Man, Thanksgiving is going to be awkward.

Donald Trump to unveil his tax plan next week [CNN]
I wish he would've said "Terrific" somewhere in here, for alliteration if nothing else. Can't you just hear it? TRUMP'S TERRIFIC TAX PLAN. Oh well. It's still going to be very Trump: "It's going to be very specific. And I think it's going to be a plan that creates incentives, and I think it's going to be a plan that makes people happy, other than maybe the hedge fund guys, who make hundreds of millions of dollars and pay very little tax. I mean, those guys will not exactly love me."

In the Age of Loneliness, Connections at Work Matter [HBR]
Go ahead, make friends at work. It could save your life!

Loneliness is a feeling we’d all like to avoid. Research shows it’s terrible for our health; it diminishes cognitive performance and the immune system, increases the risk of heart disease and dementia and hastens early death. And the psychological effects are just as bad; studies show that people need strong social connections to feel happy and find meaning in their lives, and that many of us would actually rather receive mild electroshocks than be alone.

Back in my KPMG days, I remember some people who skipped social events because they had "plenty of friends outside of work." That's fine! Some of us didn't! Plus, you know, free booze. I think the point is that connecting with people at work might seem transparent and weird because all you do is talk shop, but it doesn't have to be that way.

Did any of you read The Big Short?
Great book, if you like Michael Lewis' stuff. Here's the trailer for the movie.

When an accounting discussion starts in the NFL subreddit… [r/nfl via r/accounting]
They're bitching about how little money they make because of course they are.

Couple gets $2 million cell phone bill [KUTV]
Verizon. I know, I guessed AT&T, too.

Image: "Donald Trump Laconia Rally, Laconia, NH" by Michael Vadon/Wikimedia Commons

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