• November Deadline Set for Kraft’s Cadbury Offer – Wonderful. We’re going to hear about cheese substance made by robots trying to copulate with sweet confections for another month. [DealBook]
• CIT Said to Weigh Financing From Citigroup, Barclays – What? They didn’t call this one? [Bloomberg]
• Bank-Bailout Fund Faces Years in Red as Failures Jolt System – “FDIC officials stressed that the fund’s depleted state wouldn’t affect depositors because federally insured deposits are backed by the full faith and credit of the U.S. government.” Oh, well that’s a relief then. [WSJ]
• Plenty More Bank Losses Expected Globally – When will this happen? [WSJ]
• UBS Warns on Third-Quarter Losses – Wow. That was fast. [WSJ]
• Confidence surges among CFOs in US – It feels like the confidence has been surging for some time now. [FT]
• Auditing the Fed: Redux – Our contributor, Adrienne Gonzalez got linked over at FT Alphaville. Nice work! [JDA]
Related Posts
Respect the Expense Reimbursement Policy Or…
With the firms cracking down on expenses of every sort, including canceling the Holidays prior to the autumnal equinox, hopefully the following story doesn’t occur to any of you. At the very least, it can show what can happen when you have blatant disrespect for your firm’s expense reimbursement policy:
More, after the jump
A former Deloitte Consulting manager who disappeared on the day of her sentencing for bilking her employer out of more than $500,000 was found dead in a Costa Mesa park Saturday morning, authorities said….[Jamie] Watkins, a former operations manager for the Santa Ana office of Deloitte Consulting LLP, faced up to 10 years in federal prison after abusing the company’s expense reimbursements to steal about $550,000 to pay for things including property taxes and furniture.
As tragic as this story is, it serves as example to those of you that find yourself regularly explaining to an HR rep the $500 lunches you had at Bobby Vans and the theatre tickets that ended up on your last expense report. This may be where you are headed if you don’t shape up.
Deloitte manager hangs self [Orange County Register]
Footnotes: Not a Big Variance; Deloitte’s New iLab; An Intern’s Lament | 07.21.14
$340,000 accounting error is small 'variance,' Civil District Court clerk says Immaterial. [The Times-Picayune] Someone […]
eBay Beats the Numbers Thanks to Lehman Schwag
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]