What GAO card study means to interchange legislation & NY lawsuit.
November 20, 2009
GAO: Let Card-Fee System Stand | online.wsj.com
The GAO study of bankcard interchange fees is a mixed bag for the industry. It upholds the practice (in contradiction to the lawsuit against the practice in New York) but points to numerous ideas about how its excesses can be reduced. The latter could propel the Welsh bill in Congress toward enactment. It would allow merchant actions to pressure issuers to accept lower interchange fees. The study's ideas could also play a role in crafting a settlement of the NY suit.
More Under Armour Red Flags...
November 20, 2009
Stock Jocks Punish Under Armour's Mathletes | www.cnbc.com
Under Armour's most recent 10K contains a number of financial reporting "red flags" that reflect a cavalier attitude toward financial reporting transparency.
Financial Armageddon off the table; now what?
November 19, 2009
Goldman Sachs launches $500M small-business venture | www.njbiz.com
Since we all seem to agree that financial Armageddon is off the table, and multiple iterations of TRILLIONS of dollars of current US taxpayer capital & debt has flooded the economy, we all seem to also agree the future impact of this indebtedness is unknown.We also seem to agree that US small business can take us forward and create more opportunity and jobs.
Populist Politics Threaten Card Industry Recovery & Survival
November 19, 2009
US Credit Card Sector Faces Punitive Hostility | www.ft.com
The letter in today's FT (I am one of the authors) questions whether new and proposed legislation by Congress can kill the credit card industry.
What the Former SEC Chairmen Missed...
November 19, 2009
Don't Let Banks Hide Bad Assets | online.wsj.com
Conceptually, the arguments favoring fair value accounting are sound and quite appealing. Unquestionably, financial statement users will benefit from data about how a company’s assets and liabilities change in value during a reporting period. However, there are two major issues associated with fair value reporting that accountants, investors, legislators, and regulators need to address in the wake of our most recent financial crisis.
What Have the Accountants Done For Us Lately?
November 19, 2009
Systemic risk legislation threatens FASB’s independence | www.accountingweb.com
Debates about the causes of the recent financial crisis have yet to focus on the inability of financial institution independent auditors to provide adequate oversight over management’s valuations of financial instruments.
Japanese Carmakers Had Better Watch Out; South Korea Is Charging Ahead
November 17, 2009
Honda Targets Return To Pre-Crisis Profitability | online.wsj.com
Anybody who dismisses Hyundai and Kia's recent success as a "Cash For Clunkers" aberration is in for a rude surprise in 2010.
Does Anyone Really Expect G.M. And Chrysler To Repay Billions In Loans?
November 15, 2009
After Bankruptcy, G.M. Struggles to Shed a Legendary Bureaucracy | www.nytimes.com
Top executives at General Motors and Chrysler have gone out of their way in the past week to say their once-bankrupt companies are positioning themselves to pay back the billions of dollars loaned to them by the federal government. Experts, however, say that billions of dollars are likely to be lost on the automotive bailout.
Auto Sector Looking Better; What Are The New Drivers?
November 10, 2009
Toyota Posts Profit; Outlook Brightens | online.wsj.com
The auto sector gained 1.9% last week based on strong earning results from Ford and Toyota as well as bullish October sales numbers and the release of Chrysler/Fiat's plan to turn business around at the struggling automaker.
Not All Real Estate Is the Same - 4 Different Issues
November 9, 2009
Handling real estate loans will be a tough act | www.dallasnews.com
Real estate financing and refinancing poses 4 different levels of risk for lenders and owners, based on the project life cycle and its financing and overall structure. Broad statements about the looming problems are just that "broad statements" Real estate market participants must look at each transaction within the context of the 4 kinds of Real Estate Finance Structures, if they want to properly assess financing and refinancing values, issues and risk.
New FINRA Rule 2210-Simplification Whose Time Has Come
November 4, 2009
ADP Must Grow Three Major Markets for Continued Success
October 22, 2009
Battle for Dominance in Mortgage Fraud Analytics Space
October 17, 2009
All hands on deck, full steam ahead
September 7, 2009
Dollar destined to be second class currency in world's largest banana republic
September 1, 2009