Footnotes: It’s Goin Down in Brazil; PriceBoozHouse FTW; Are You Drunk Or Are You Just Dumb? | 10.30.13

Posted on by Adrienne Gonzalez

OGX Bankruptcy Filing Caps Batista’s $30 Billion Demise [Bloomberg]

HEY YOU GUYS! We recorded the tiniest budget deficit in 5 years thanks to record revenue! Um. Wait… what? [Businessweek]

Which iPhone you choose says a lot about you, but mostly it says whether you pee standing up or sitting down [Mashable]

This piece tries to tell you why you should care about something "as boring as" an accounting firm merger. Personally I care about the Booz/PwC mashup because it allows us the opportunity to come up with new names — as John McDuling did — like Pooz and PriceBoozHouse. [Quartz]

Your quote of the day belongs to FASB Chairman Russell Golden: "I think we are substantially converged." [Reuters UK]

Hey "regular folk," go ahead and wait on the Twitter IPO [USA Today]

Why Chrysler Needs an $18 Billion Valuation to Justify an I.P.O. [DealBook]

The CFTC voted 3 to 1 on the Final Rules Enhancing Protections Afforded Customers Protection Funds [CFTC]

Breaking news to no one paying attention, the Fed decided to hang tight on stimulus measures for now [Reuters]

Drunk or just really, really bad at using Twitter? You decide. [Gawker]

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Mary Schapiro Wants Accountants to Get Better at Their Jobs

Did you work hard this past busy season? Did you toil away for hours and hours to provide exemplary client service? Did you take one for the team when that creeper client contact wanted to dance at the end-of-the-year party? Great. Well done, good and faithful capital market servant. But guess who still isn’t satisfied? The SEC Chair, Mary Schapiro. Why? Well, it’s becuase you’re still not meeting investors expectations and the SEC is hearing about it. Everyone is demanding the best and you’re simply not cutting it right now.

“At the SEC, we have heard from investors that they are not as confident as they could be, and they have areas in which we all could expect more from accountants, from accounting standards, from regulators and from those who provide assurance through the audit process,” she said. “I believe that, when your customer asks for more, especially after the challenges of recent years, you need to listen.”

So maybe this is what KPMG is talking about when they say things are going to the next level?

SEC’s Schapiro Says Investors Expect More from Accountants [AT]