When we first started hearing rumors of a Rothstein Kass KPMG merger in February, one of the items we were sent along with tips that an acquisition would be forthcoming was a letter from RK CEO Steve Kass that went out to staff in July of 2013. A highlight:
As many of you know, there are always rumors that float around the accounting profession about firms merging, selling, or buying other firms.
I’ve always felt strongly that it is neither professional nor productive to comment on unsubstantiated gossip. But today I am making an exception to that rule because I believe it’s in the best interest of our firm to put to rest a completely baseless rumor that has seemed to gain traction both inside and outside the walls of Rothstein Kass in recent months.
So there are no misunderstandings, Rothstein Kass is NOT FOR SALE. We are not engaging in merger or selling talks with anyone. We continue to explore inviting other firms to become members of Rothstein Kass International Limited to support our international capabilities.
Steve even went so far as to suggest the rumors were "started or perpetuated by competitors who don’t want to compete with us on a level playing field and recruiters who use the rumors to create opportunity." Listen, Steve, no one likes recruiters but that's just silly to think they're sitting around plotting against your stupid firm.
While the firm was all but unreachable after the rumors started flying and even immediately after the merger was formally announced, Steve Kass has broken the silence and talked to Accounting Today. Not surprisingly, he's sticking to his story:
“The interesting thing is that the while those rumors were persisting through 2013, there was no truth to them,” Kass told Accounting Today. He said the baseless rumors caused a disturbance throughout the organization, and he needed to shut down the chatter in the letter he wrote to his staff. “I think everybody has seen that letter. It was the truth, and I wouldn’t have sent anything like that if it wasn’t the truth.”
You can believe this because Rothstein Kass is powered by trust! At least it used to be; now under the KPMG umbrella, it's powered by Phil Mickelson's hat.