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January 30, 2023

ANR: International M&A Struggles with a GAAP in Standards; Nortel Case FINALLY Wrapping Up; KPMG Short Hills Swaps Space for Flexiness | 10.09.12

Accounting Differences Dampen Cross-Border Mergers [CFO]
Based on M&A deals in 32 countries between 1998 and 2004, the study found that differences in versions of generally accepted accounting principles used by acquirers and potential targets in different countries can decrease the number of mergers. The difference in standards might make it harder for acquirers to identify value-creation opportunities in the first place and to integrate acquisitions, says Shawn Huang, assistant professor at the University of Arkansas and a co-author of the study.

Nortel Case Nears Its End [GOA]
No rush really. It's only been 10 years.

Election is a Referendum on Tax Hikes [Martin Sullivan]
FYI.

Deloitte & Touche expanding LI office [Newsday]
Jericho has added 26 people since May and is looking for more.

KPMG moves into new Short Hills office [NJ]
[Short Hills moves to] a 55,000 square-foot space at 51 John F Kennedy Parkway, said Kelly Watson, managing partner of the New Jersey practice. It previously occupied 70,000 square-foot space nearby at 150 JFK Parkway. What the firm loses in square-footage, it gains in the flexibility and advanced technology of the new work space, she said.

Six Former Deloitte Professionals Named 2012 Accounting Doctoral Scholars [Deloitte]
Shannon Chen – University of Texas (Austin, TX.) Matthew Erickson – University of Arizona (Tucson, AZ.) Nicholas Hallman- University of Missouri (Columbia, MO) Anne Podany-University of Missouri (Columbia, MO) R. William Snyder-University of Illinois (Champaign, IL) Brandon Szerwo -University of Washington (Seattle, WA).

What Business Schools Want [WSJ
FWIW.

Gas prices in California hit new record high at $4.67 a gallon [LAT]
The cost of fueling up has soared in recent days, as refinery and pipeline problems squeezed supply. The steep and sudden run-up caused Gov. Jerry Brown to call Sunday for a quick infusion of winter-blend gasoline. At the pump, drivers first saw prices surge to an all-time high Saturday, when they hit $4.614 a gallon and beat out a previous record set in 2008. By Sunday, the price of a gallon of regular was at $4.655, according to AAA’s daily fuel-price survey.

Man Dies After Live Roach-eating Contest in Fla. [AP]

About 30 contestants ingested the insects during Friday night's contest at Ben Siegel Reptile Store in Deerfield Beach about 40 miles north of Miami. The grand prize was a python. Edward Archbold, 32, of West Palm Beach became ill shortly after the contest ended and collapsed outside the store, according to a Broward Sheriff's Office statement released Monday. He was taken to a hospital where he was pronounced dead. Authorities were awaiting results of an autopsy to determine a cause of death. […] "We feel terribly awful," said store owner Ben Siegel, who added that Archbold did not appear to be sick before the contest. "He looked like he just wanted to show off and was very nice," Siegel said, adding that Archbold was "the life of the party."

 

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