At least that’s what we’re guessing.
Bloomberg:
“EBay Inc., owner of the most visited U.S. e-commerce Web site, reported second-quarter profit that beat analysts’ estimates, a sign that Chief Executive Officer John Donahoe’s turnaround efforts are working.”
Whatevs. We’d argue beauties like this are the reason for the good Q.
EBay Profit Beats Estimates in Sign That Turnaround Is Working [Bloomberg]
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Pictures of the Day: One Idea to Help Keep the Utilization Up
As you well know, it’s key for all of you to stay as fully utilized as possible this busy season, and sometimes little things make all the difference.
A reader provided us with the following idea:
The strategically placed marker board will come in handy when all those great ideas pop into the grey matter.
Or you can just memorize Giants statistics.
Say what you will about the impracticalities of this set up but at least you won’t have to chase down a key.
We strongly encourage you to submit any chicanery that you might cook up this busy season. We’re here to help you stay sane.
Footnotes: Deloitte to Tesco’s Rescue; Endorse This; Cleveland in the House | 09.22.14
Tesco’s execs suspended in $409m profit probe Seems legit, it's not like PwC should have […]
Madoff Feeders Getting Some Unwanted Attention
The SEC, feeling confident these days, has filed a complaint against Cohmad Securities Corporation and its Chairman, Chief Operating Officer, and one of the brokers, saying they “actively marketed Madoff investments while ‘knowingly or recklessly disregarding facts indicating that Madoff was operating a fraud.'”
Call us Captain Obv but that sounds like they were either dumb or in on the scam. Either way, they can’t be too psyched about it.
An additional complaint has been filed by the SEC against Stanley Chais, an investment adviser who put all of the assets he oversaw into casa de Madoff.
Irving Picard, who might have the most thankless job in America, also sued both Cohmad and Chais, because, you know, a few people want their money back. The trustee’s complaint against Cohmad spells it out:
The trustee’s lawsuit asserted that fees paid to Cohmad by Mr. Madoff were based on records showing the actual cash status of customer accounts — the amounts invested and withdrawn — without including the fictional profits shown in the statements provided to customers. When a customer’s withdrawals exceeded the cash invested, Cohmad’s employees no longer earned fees from that account — even though the customer’s statements still showed a substantial balance, according to the lawsuit.
This arrangement indicated that Cohmad and its representatives knew about the Ponzi scheme and knew that the profits investors were allegedly earning were bogus, according to the trustee’s complaint.
Good luck explaining that.
Brokerage Firm and 4 Others Sued in Madoff Case [New York Times]