Russia and China can suck it re: the U.S. Dollar, according to Moody’s, “In the absence of a credible alternative it’s hard to see abrupt changes and that’s not even in the interest of the creditors,” Pierre Cailleteau, managing director of sovereign risk at Moody’s, said in an interview in Tokyo yesterday. The credit rating “remains solid,” he said earlier at a briefing.”
Do you like apples?
Moody’s Says World Has ‘No Credible Alternative’ to U.S. Dollar [Bloomberg]
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A British D-Lister Does What Many Only Wish They Could Do
We’ve got no idea who Kerry Katona is but she had it with her accountant and decided that punching him in the face was good idea.
From the looks of the guy, can’t say that he probably didn’t deserve it. He’s was busted for fraud back in 2004 and was involved in a scheme involving pink rabbits at 600 quid a pop.
K-squared, for her part, declared bankruptcy last year, owing £417,000 in taxes. And just for good measure, she was just picked up two nights ago for being caught on video putting a blizzard up her nose. This whole thing is about as sketchy/awesome as you could possibly ask for.
Kerry Katona accused of punching her accountant [Accountancy Age]
BDO Announces Global Revenues, Reminds Everyone of the Entity Structure
BDO International Global Coordination B.V. announced their global revenue results today of just a smidge over $5 billion. This represents a drop of 4.5% compared to the firm’s prior fiscal year end of September 30.
Newman:
“Our revenues have been affected by difficult market conditions – particularly in the economies of our largest member firms – and the significant reduction in transaction-based activity. Our results have also been affected by currency movements and, in particular, the weakening of many currencies against the US dollar and the euro. We are therefore extremely pleased that overall revenues in euro have grown and that there is only a modest reduction in overall fees when expressed in US dollars,” said Jeremy Newman, CEO of BDO International. “It is particularly pleasing that at a time when many other accounting networks are showing a decline in fee income that our underlying revenues, excluding the effect of currency movements, have increased by almost 5 percent.”
A little less spin from J. New than other Global Chiefs but still the standard optimism. We can’t wait for his blog post. Hopefully he gets more candid but we’re not holding our breath.
On more of a liability note, we were especially impressed with the firm’s “about” section:
BDO International is a world wide network of public accounting firms, called BDO Member Firms. Each BDO Member Firm is an independent legal entity in its own country. The network is coordinated by BDO Global Coordination B.V., incorporated in The Netherlands with its statutory seat in Eindhoven (trade register registration number 33205251) and with an office at Boulevard de la Woluwe 60, 1200 Brussels, Belgium, where the International Executive Office is located. BDO is the brand name for the BDO International network and for each of the BDO Member Firms. The combined fee income of all the BDO Member Firms was $5.03 billion in 2009. The global network has 1,138 offices in 110 countries and more than 46,000 people provide advisory services throughout the world.
Of the six sentences in this paragraph, four seem to be meant to remind everyone that the U.S. firm is on the hook for the $521 million owed to Banco Espirito. Any chance the non-U.S. firms are passing around a basket to help the good old US of A? Anybody? Maybe they’ll think about it? It’s the holidays for crissakes.
Anyhoo, we’re just waiting on KPMG for last major firm to give us the BIG NEWS about their 2009. Maybe it drops tomorrow during the bear manufacturing? Stay tuned.
BDO International Network Announces Revenue Results for 2009 [Press Release]
Earlier GC Coverage of Firm Revenue Results:
The Grant Thornton ‘Global Six’ Campaign Has Hit a Snag
PwC Global Revenue Was Down or Flat, Your Choice
E&Y Revenue Results: ‘Flat revenues certainly don’t tell the whole story’
Deloitte Is Super Proud of Their Presence on Linked In
If I Get Asked to Work One More Weekend…
We got pointed to this article in the World’s Finest News Source from last week and frankly, we thought it might sound familiar to some of you:
More, after the jump
dozens of minor policy changes, coupled with his easily cowed personality, have gradually served to make each work day an unbroken series of degrading humiliations…In addition to the single small raise [you] received and the loss of various benefits that have almost imperceptibly contributed to his professional impotence, [your] good nature and work ethic have made [you] subject to domination by both his superiors and peers…Though [you have] been stripped to little more than a neutered shell of [your] former self, [you have] reportedly started carrying out pathetic, completely unnoticed acts of rebellion in an effort to preserve some shred of what [you] believes to be [your] dignity.
Another example might be, say, eery silence.
Or this, courtesy of tip we received:
EY only gets Christmas Day and New Years Day off for the holidays…not even christmas eve…Considering they cant roll vacation time, it is just a firm way of getting people to burn vacation they cant take because their chargeable hrs and utilization will go down
We’re not sure how other firms handle the last week of the year, which tends to be worthless, but if you’re working, trying to remain chargeable that week, that’s enough to make you feel trampled on. And since accountants seem to be gluttons for punishment, they have a tendency to put up with it. But hey, if we’ve got it all wrong, let us know. Just putting it out there.
So if you’re getting walked all over and you get a kick out taking home post-it notes and printer paper for personal use, this post is for you. Try to keep it together.