Quote of the Day

Quote of the Day: March Madness Pools Are an Important Busy Season Distraction | 03.08.10

“This year of all years, the importance of camaraderie and bringing employees together is greater than ever. If people are talking about March Madness, they’re not talking about the state of the business, or the pay cuts, or the layoffs, or things like that”

~ Jonathan Shapiro, partner at labor and employment firm Fisher & Phillips, on why betting pools and even game-watching are good morale boosters.

Quote of the Day: PwC Just Better Make Sure The Dude Wins Best Actor | 03.05.10

“We just don’t tell anyone. Not even our wives.”

~ Brad Oltmanns, PricewaterhouseCoopers partner, on keeping the Oscar results secret.

Quote of the Day: Is Michael Koss a Sad or Happy Clown? | 03.04.10

“Michael Koss is a clown. He does not belong on the board of directors of any company. He needs to be minding his own company, and until he can clean things up there, he should not be allowed to go outside and play.”

~ Tracy Coenen, on Mr Koss’ resignation as the Audit Committee Chairman of Strattec Security Corp.

Quote of the Day: How’s This for CFO Optimism? | 03.03.10

“I’m encouraged by the fact that things are at least not getting worse.”

~ Gayle Anderson, CFO of Match.com, on the economy.

Quote of the Day: Big 4 Lowball | 03.02.10

“What they’re doing is buying some work to keep the staff busy.”

~ Gary Boomer, on the Big 4 low bidding smaller clients.

Quote of the Day: Did Someone Suggest That Google Wasn’t Big? | 03.01.10

“We shouldn’t pretend we’re not a big company.”

~ Patrick Pichette, Google CFO.

Quote of the Day: Mary Schapiro Will Not Be Rushed | 02.24.10

“This is a logical process. But it is slow.”

~ Thomas Jones, Director of the Center for the Study of International Accounting Standards at Pace University and former vice chairman of the IASB, on the SEC’s announcement that it’s sorta on board with the move to IFRS.

Quote of the Day: Doug Shulman Speaks in Austin | 02.23.10

“They do hard work on behalf of the American citizens, and an act like this won’t stop us from doing our jobs with dignity and respect for Americans.”

~ Doug Shulman, the Commish, on IRS employees.

Quote of the Day: Witness of the Austin Plane Crash | 02.18.10

“I thought half the first floor would be dead.”

Quote of the Day: Giving Up Spreadsheets for 10-mile Runs | 02.17.10

“Some days, I’d think, this 10-mile run isn’t so bad. At least I’m not stuck in a conference room staring at a spreadsheet!”

~ Rebeccah Wassner, CPA and USA Triathlon’s Athlete of the Year in 2009.

Quote of the Day: Let’s Hope He Doesn’t Mean Bombings at J.P. Morgan | 02.16.01

“We’re not Greece but we could end up with their same problems down the road if we don’t get spending under control and start dealing with our structural deficit soon.”

~ David Walker, CEO of the Peter G. Peterson Foundation and former U.S. Comptroller General on the US of A.

Quote of the Day: So We Should Expect That SEC Filing Any Day Now? | 02.08.10

“In my opinion, KPMG will resign the engagement if there is reason to doubt management integrity, and will not be rushed into issuing an audit opinion by NASDAQ-listing deadlines needed to avoid Overstock.com becoming a Pink Sheet or Bulletin Board stock.”

~ Howard B. Sirota, former lead counsel in Crazy Eddie class action suits

Quote of the Day: Does 1,800 Visits in 17 Days Constitute a Porn Addiction? | 02.04.10

“If you go to HR and tell them you have a drinking problem, they’ll give you hotlines and help. If you say you have a porn problem, they’ll get security to throw you out.”

~ Michael Leahy, the author of “Porn @Work” and “Porn Nation” on porn addiction, which may be rampant at the SEC.

Quote of the Day: He’s Also Good at Stalking | 02.03.10

“I suspect he takes much more pleasure in baiting opponents than he does in running a company. The evidence he is good at baiting is much clearer than the evidence he is good at managing.”

~ Floyd Norris, New York Times Columnist on the Farmville obsessed, Segway Cowboy Patrick Byrne.

Quote of the Day: Are You Saying the Plan Didn’t Work? | 02.02.10

“[A]t Deloitte we began planning for the downturn and beyond in 2006. Not having a crystal ball, we didn’t anticipate such a violent contraction.”

~ Barry Salzberg, CEO of Deloitte.

Quote of the Day: Extra Kisses from Washington | 02.01.10

“Even in Washington, where we throw around trillions of dollars as if they were Hershey’s Kisses at Halloween, these numbers take your breath away.”

~ Howard Gleckman, editor of TaxVox, on the numbers in President Obama’s 2011 budget.

Quote of the Day: What About the Paper Clip Exchange? | 01.29.10

“High speed and commuter rail are a key part of growing our economy here in Florida, and today’s announcement couldn’t come at a more important time for our state”

~ Alex Sink, Chief Financial Officer for the State of Florida and cost-saving guru on her state receiving $1.25 billion in federal funding for a high speed rail system.

Quote of the Day | 01.28.10

“Bernanke fiddled while our markets burned”

~ Richard Shelby, Republican Senator from Alabama during the Senate debate on Ben’s second term as Fed Chairman.

Quote of the Day | 01.27.10

“You give lame excuses then, and you’re giving lame excuses now.”

~ Representative John L. Mica, Republican of Florida to Tim Geithner on his role in the bailout of AIG.

Quote of the Day | 01.26.10

“The problem with dumping him at this stage is that it won’t really get to the heart of the matter, which is that he’s just one of a cast of characters who need to be ousted. The problem is the ensemble. I think it’s a bit like you’re not liking the cast of Seinfeld, and just getting rid of Elaine.”

~ Gary Weiss on Ben Bernanke, et al.

Quote of the Day | 01.25.10

“An auditor’s report tells less about a public company’s health than a doctor’s report tells about an individual – in scope, detail and precision. And if investors and other financial information users are not happy, they are doing nothing to make their dissatisfactions effectively known.”
~ Jim Peterson, from his post “Medical Check-Ups and Annual Audits: What if Your Doctor Reported Like Your Accountant?” at Re:Balance.

Quotes of the Day | 01.22.10

“They’re never afraid to print rumor and innuendo. They’re keeping accountants and auditors honest, never afraid to write about the idiocy frequently displayed by finance professionals and executives.”
~ Tracy Coenen, of BloggingSuits and Fraud Files Blog on a certain website
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“It is self-debasing greed. It is avarice of the corrupted soul.”
~ Professor David Albrecht, Concordia College on those who will profit from a switch to IFRS from U.S. GAAP.

Quote of the Day | 01.21.10

“But Byrne is evil. I’ll stand by that. More than evil, he’s soul-less evil. That said, I hope you understand that I don’t have anything against Byrne per se. I have things I want, and he stands in the way, so I now I’m removing him. At the same time, there’s no reason we can’t co-exist under specific circumstances.
~ William K. Wolfrum, on Farmville junkie and Overstock.com CEO Patrick Byrne.

Quote of the Day | 01.20.10

“The White House should take note from the Massachusetts Senate election that making life harder for small and medium-size businesses is not the right answer.”
~ Dean Zerbe, National Managing Director of alliantgroup on the Obama Administration’s urging of Congress to crack down on corporate tax cheats.

Quote of the Day | 01.19.10

“Audits are of limited usefulness – the scope of work is so small and is done in such a compressed time, usually at the end of the year. And the work that auditors do is predictable.”
~ Tracy Coenen, of Fraud Files Blog, in regards to the how Sue Sachdeva allegedly pulled off a $31 million embezzlement at Koss under the nose of Grant Thornton (Steve Chipman may need a pair of these to drown out the attorneys). [Milwaukee and Southeastern Wisconsin Business News]