Search Results for: ever reads

Get started blogging. Do it for yourself, even if nobody ever reads anything you ever post.

Leave a Comment / Other stuff, Social media /

Just the process of putting into words what you are thinking will produce tremendous growth. Actually thinking about what is going on around you, in your industry, or in the wider world will stretch you like nothing else.

Do it for yourself!

I have grown tremendously from writing on my blogs. Check out Seth Godin and Tom Peters making that point:

 

[youtube=http://www.youtube.com/watch?feature=player_embedded&v=livzJTIWlmY]

 

A few great lines: 

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Get started blogging. Do it for yourself, even if nobody ever reads anything you ever post.Read More »

Get started blogging. Do it for yourself, even if nobody ever reads anything you ever post. Read More »

Economic devastation from shutdown spreads. Signs showing of deteriorating health and increased deaths caused by shutdown.

Leave a Comment / Economics, Other stuff /
Door of a bankrupt business locked with chain and padlock. Global recession due to coronavirus lockdown by Ivan Radic is licensed under CC BY 2.0

Indications of damage caused by the shutdown are getting stronger. First articles are appearing to describe the harm to health from the shutdown.

Comments today:

  • Estimated 35 deaths from not getting cardiac care in Ontario, Canada
  • Indications people are not seeing doctors and not getting meds they need
  • Harsh impact on Jewish owned businesses
  • New vehicle sales collapsing
  • Temp layoffs transition to permanent
  • More students suing more universities, now claiming discount on tuition for missing out on the on-campus experience

Damage to health from shutdown

5/5/20 – Daily Wire – Dozens Dead After Lockdown Measures Delayed Their Heart Surgeries; Health Official: “Certainly Was Not Intended” – Count this as the first in what I predict will be an exquisitely long list of unintended consequences from putting the economy into an induced coma. The sad part is these unintended consequences were predictable and expected.

Thousands upon thousands of needed health procedures were canceled in Ontario, Canada in order to make room for the massive surge of coronavirus patients which never arrived.

New study in Ontario estimates that 35 people are dead because their heart surgeries were postponed. There were 12,200 surgeries and other procedures postponed each week.

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Economic devastation from shutdown spreads. Signs showing of deteriorating health and increased deaths caused by shutdown.Read More »

Economic devastation from shutdown spreads. Signs showing of deteriorating health and increased deaths caused by shutdown. Read More »

Need a place to keep track of all sorts of different types of files? Check out Evernote.

Leave a Comment / Other stuff /

The New York Times has a great article introducing Evernote as a storage tool for all the stray web articles, spreadsheets and photos that don’t have a logical home otherwise.

Check out An App That Will Never Forget a File.

Here is an intro to a superb tool: …

Need a place to keep track of all sorts of different types of files? Check out Evernote.Read More »

Need a place to keep track of all sorts of different types of files? Check out Evernote. Read More »

Convergence or Co-whatever-its-called-today with IFRS is Co-drifting-away

2 Comments / Accounting /

The IASB staff have released a report responding to the very lukewarm SEC staff report on IFRS convergence.  Tom Selling at The Accounting Onion characterizes the IASB report as The IASB’s Stages of Grief.

He points out numerous places where there are massive differences between U.S. GAAP and IFRS. A few examples he sees are:

Convergence or Co-whatever-its-called-today with IFRS is Co-drifting-away Read More »

SEC report that doesn’t address when to implement IFRS reads more like a position paper against IFRS

3 Comments / Accounting /

As expected, the SEC staff released a report on IFRS that does not contain a recommendation on whether to adopt IFRS or when to adopt.

The report is called Work Plan for the Consideration of Incorporating International Financial Reporting Standards into the Financial Reporting System for U.S. Issuers.

I have not read the full 137 page report, and don’t plan to. As I browsed the first 28 pages, what struck me is the large number of observations in the report that are actually fairly major criticisms of IFRS and reasons not to adopt it.

Here’s a small number of examples:

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SEC report that doesn’t address when to implement IFRS reads more like a position paper against IFRSRead More »

SEC report that doesn’t address when to implement IFRS reads more like a position paper against IFRS Read More »

More context on the sentencing hearing for Scott London. Why I am writing so much about this case.

Leave a Comment / Audits /

Found some more comments from coverage of the sentencing for Scott London that change the perception of the hearing. At least it changes my perception. Mentioned this earlier here. Wish I had been in the sentencing hearing.

Look at the comments I mentioned earlier:

The Wall Street Journal – Former KPMG Partner Scott London Gets 14 Months in Prison for Insider Trading: …

More context on the sentencing hearing for Scott London. Why I am writing so much about this case.Read More »

More context on the sentencing hearing for Scott London. Why I am writing so much about this case. Read More »

Workplace rules have changed – You need to take charge of your own career no matter where you work and no matter what your position

Leave a Comment / Other stuff, Pondering, Social media /

The rules for work have radically changed. The work world that existed when you started college, even if you graduated this spring, is gone.

If you are working, you need to take charge of your career and your reputation. This applies to brand new staff, experienced audit seniors, and especially partners.  People at every level of employment need to absorb that lesson.

Jenna Goudreau summarizes 14 Rules of the New Marketplace That Millennials Need to Master at Business Insider. My only disagreement with her is that these rules apply to everyone at every level, not just millennials.

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Workplace rules have changed – You need to take charge of your own career no matter where you work and no matter what your positionRead More »

Workplace rules have changed – You need to take charge of your own career no matter where you work and no matter what your position Read More »

Another multi-billion fine for Wells Fargo – $3.7 billion this time.

Leave a Comment / Fraud, Other stuff, Pondering /
Image courtesy of Adobe Stock.

Been a while since I tuned into the shenanigans at Wells Fargo. A mere 100 million here and another 100 million there just doesn’t break into the headlines. Well this time is 3.7 billion. Yeah, billion with a B.

12/20/22 – Wall Street Journal – Wells Fargo to Pay Record CFPB Fine to Settle Allegations It Harmed Customers – Wells was able to combine a variety of violations into one big settlement. They closed out a number of investigations with this multibillion settlement.

Range of issues includes “illegally assessed” fees and interest on car loans and home loans. Overdraft fees were improperly applied. Some vehicles were repossessed as a result of the shenanigans. Overdraft fees replied even though there is enough money to cover the transactions.

Settlement consists of $2 billion restitution and a $1.7 billion fine from CFPB, which is a record for the agency.

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Another multi-billion fine for Wells Fargo – $3.7 billion this time.Read More »

Another multi-billion fine for Wells Fargo – $3.7 billion this time. Read More »

In spite of what you see with your own eyes, the Department of Agriculture says food inflation in 2021 was the same as 2020. Don’t hurt yourself laughing.

Leave a Comment / Economics /

Yeah, the research wizards at the Ag Department concluded food inflation in 2021 was exact same as 2020. We will see even smaller price increases in 2022.

US Department of Agriculture – 1/28/22 – 2021 retail food price inflation continued at the same pace as 2020, but varied among food categories – In a clever disinformation effort, the alleged economists at the Economic Research Service of the U.S. Department of Agriculture claim food prices increase of 3.5% during 2021 was the same rate of increase as in 2020. The mere 3.5% during 2021 is only slightly higher than the historical average of 2% from 2000 through 2019.

In newsflash to everyone who actually buys groceries or goes to a restaurant, food prices barely increased in 2021.

(Discussion cross-posted from my other blog, Nonprofit Update, because understanding impact of high inflation on our clients helps us serve them better.)

Because of the pushback this article is already receiving, it will likely be memory-holed momentarily so I will quote a few parts of the article. Will quote the entire article at the end of this post.

The headline information:

“Retail food prices increased by 3.5 percent in 2021, equal to the rate in 2020 and greater than the historical annual average of 2.0 percent from 2000 to 2019. Of the 12 food categories depicted in the chart, six showed slower price increases in 2021 compared with 2020.”

Prices for half the food you buy are coming down. Cool, huh?

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In spite of what you see with your own eyes, the Department of Agriculture says food inflation in 2021 was the same as 2020. Don’t hurt yourself laughing.Read More »

In spite of what you see with your own eyes, the Department of Agriculture says food inflation in 2021 was the same as 2020. Don’t hurt yourself laughing. Read More »

Recap of fines for major banking fiascos.

Leave a Comment / Fraud, Other stuff /

Image doing that to seventy billion dollars. Intentionally. Image courtesy of Adobe Stock.

It is so sad to say, but a reality never-the-less, there are so many major banking fiascos with such a wide range of willing participants that it is impossible to keep straight the players and disasters and fines based just on memory.

So, that means I have a spreadsheet to track the willful disasters I’ve been following.

My tally does not include all the billions of dollars paid to settle mortgage issues arising from the Great Recession. That is another massive set of disasters all by itself.

Here is my running tally of the amount of stockholder equity wasted for a range of different debacles. Amounts in millions of dollars:

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Recap of fines for major banking fiascos.Read More »

Recap of fines for major banking fiascos. Read More »