CorpFinCafe

Prompting discussions on Financial topics….

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Posted in July 29th, 2008

November 2009
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SEC updates

SEC and CFTC Issue Joint Orders on Volatility Indexes and Security Futures November 20, 2009
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued two joint orders related to security-based futures contracts that clarify each Commission's respective jurisdiction and allow additional products to underlie security futures.
SEC Names Senior Officials to Investor Education and Advocacy Efforts November 19, 2009
The Securities and Exchange Commission today announced the appointments of three senior officials to its Office of Investor Education and Advocacy (OIEA) to help continue its increased focus on individual investors. OIEA serves the Commission as the "investors' office" and provides educational resources to help individual investors make inform […]
SEC Charges Former Executives at Silicon Valley Company for Inflating Financial Results November 17, 2009
The Securities and Exchange Commission today charged two former Silicon Valley executives for improperly inflating the reported financial results at Santa Clara, Calif., semiconductor company Tvia, Inc.
President Obama Establishes Interagency Financial Fraud Enforcement Task Force November 17, 2009
Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat f […]
Federal Regulators Issue Final Model Privacy Notice Form November 17, 2009
Eight federal regulatory agencies today released a final model privacy notice form that will make it easier for consumers to understand how financial institutions collect and share information about consumers.

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Start-Up CFO / Mark Macleod

Usage-based billing models
I bought some credits for my long distance calling service Mobivox last week. I use this service at least once a week and yet this was the 1st time I had bought credits since April 2008 (when I was working there). I have to be one of the better users on this service, yet it has only extracted $ 20 from me in a year and a 1/2. That's not the path to rich […]
We're all friends - the end of Non-Competes
Techcrunch reported about Don Dodge joining Google today. That's great news for the startup World and a great hire for Google. What was not reported on here is that this hire must mark the end of the Non-Compete as we know it.I think we can all agree that Microsoft and Google consider each other competitors. So, for Don to pick up and immediately take o […]
When should you hire a CFO?
At last month's National Angel Summit there was a great discussion on when startups should hire CFOs. Bryan Watson from NAO sent me the video. Check in just before the 6 minute mark.Highlights:When: right before you raise your 1st capital?Don't hire a full time CFOHire someone with startup experienceRun things right from the startReally important f […]
Yultide 2009: Montreal's Tech Community Holiday Party!
Like all CFOs, I used to be a nightclub DJ, pumping out house tunes at some of Montreal's coolest venues. I am pleased to report that I'll be dusting off the vinyl for a special appearance along with Alistair Croll and Sean Power of Watching Website's fame on Thursday Dec. 10 for Yultide 2009: Montreal's Tech Community Holiday party.All t […]
Looking at the World's most valuable Internet Startups
A couple of weeks ago Silicon Alley Insider published its list of the World's most valuable Internet Startups. I thought it would be interesting to dig deeper into the numbers to see what we could learn and apply to our own startups. Together with my research department (aka - Jonathan), we crunched some numbers.Recognizing that we have imperfect data s […]

CFO Wise - Ken Kaufman

Revenue Recognition Updates – Clarity and Complexity
Anytime a presentation starts with “Implementing EITF 08-1 and EITF 09-3,” we know we may be in for a long meeting. Gregory P. Randall, Partner with KPMG, made a very technical topic interesting yesterday. The topic – the changes in revenue recognition guidelines for software companies and others with multiple deliverables packaged in […]
Staffing Accounting/Finance Department from Start-up to Medium-Sized Company
I have had a lot of conversations recently about staffing the accounting and finance function in the company. As companies grow and shrink, their needs in this area change. We certainly do not want to be over-staffed, and we also want the most cost-effective staff doing as much of the work as possible. For example, we [...]
Is There Such a Thing as a Lifestyle Software Business?
A respected professional @chrisknudsen said something to me a few months ago that I have reflected on several times since that occasion. We were discussing a company that has amazing, break-through technology with a wide-open market space. Their leadership just does not seem to be in a hurry to seize the opportunity. They’re growing at about [.. […]
I Cannot Predict the Future…Budgeting is Worthless!
I have heard this statement more often than I care to admit: “I cannot predict the future so a budget would be worthless for my business.” An article entitled How to Create a Budget in BusinessWeek prompted me to recollect some of my experiences with helping people who have the above attitude towards budgeting gain a [...]
Build Your Business Model Around People
This is a real situation experienced by a real emerging company. Names and figures have been altered to protect anonymity. A company has a new opportunity and they create a financial model to try and forecast how their general assumptions for this opportunity will materialize. Specifically, they made significant assumptions about the direct labor co […]

Ben Paramore/Beyond Beans

Keys To Great Relationships
Great relationships take work to build and can be destroyed very quickly. This is particularly true for CFOs who are focussed on numbers and results and are usually driven to performance. Its easy to get lost in the job and...
The Major Attributes of Leadership
Napoleon Hill, in his all-time bestselling success book Think and Grow Rich, outlined 11 Major Attributes of Leadership. They are as follows: UNWAVERING COURAGE. Based on knowledge of self and of one's occupation. SELF-CONTROL. People who cannot control themselves can...
CFO Responsibilities Expanding
The new Financial Executives Research Foundation's Annual Financial Executive Compensation Survey shows dramatic changes in the responsibilities of CFOs, both private and public. Areas where private CFOs are spending significant more time than ever before are Planning, Legal, Purchasing, Operations,...

Bradford Van Siclen / Novo Companies

Wine news...

12 Whites for the Thanksgiving Table (Wine Spectator) November 20, 2009
2009 Beaujolais Nouveau (Wine Spectator) November 19, 2009
Prince Charles Falls for Niagara (Wine Spectator) November 19, 2009
12 Reds for the Thanksgiving Table (Wine Spectator) November 17, 2009
Arsonist in $200 Million Wine Warehouse Blaze Pleads Guilty (Wine Spectator) November 17, 2009

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Translators

CFO magazine updates

And Now for the Good News... January 6, 2009
Here are ten bright spots to savor amid the economic gloom.
Madoff Case Triggers Wider Probe of SEC January 6, 2009
"Many of us have lost confidence in the SEC," a Congresswoman declares.
Insurance Outlook: Higher Prices by Year's End January 6, 2009
But if the global recession continues to spiral downward, many companies will try to slash their insurance bills by resorting to various forms of self-insurance, a new report predicts.
Deals: Nowhere to Go but Up January 6, 2009
In our M&A Roundup for the week ended Jan. 4, a mere 16 North American transactions are arranged, with only Chesapeake Corp.'s billion-dollar bankruptcy buyout topping $150 million.
All Eyes on Treasury January 6, 2009
The function that no one likes to think about is now getting plenty of attention, and even a little respect.
GE Capital Taps Debt Market for $10B January 6, 2009
The largest offering to be backed by the FDIC, it includes two-year notes, 3.5-year notes, and one-year and 18-month floating-rate notes.

WSJ - U.S.

Hershey Trustees Back Cadbury Bid November 20, 2009
The trust that controls Hershey is pushing it to launch a rival $17 billion bid for Cadbury that would include more cash than Kraft's offer.
AIG Trustee Sought Exit, But Will Remain November 20, 2009
One of the three trustees who oversees U.S. taxpayers' nearly 80% stake in AIG recently said he wanted to quit his post, but was persuaded to stay on. Separately, the government is seeking possible candidates to add to the insurer's board.
SkyTeam Willing to Invest More in JAL November 21, 2009
Richard Anderson, chief executive at Delta Air Lines, said the SkyTeam alliance of global carriers would be willing to invest more than $1.02 billion into ailing Japan Airlines as it tries to cement a trans-Pacific partnership.
Reliance Makes Offer for LyondellBasell November 21, 2009
India's Reliance Industries made a nonbinding cash offer to take a controlling state in chemical maker LyondellBasell. The amount of the offer wasn't disclosed.
Ohio AG Sues Credit Raters November 20, 2009
Ohio's attorney general filed suit against ratings agencies Standard Poor's, Moody's and Fitch, alleging they provided misleading ratings in exchange for money.

WSJ - Europe

Hershey Trustees Back Cadbury Bid November 20, 2009
The trust that controls Hershey is pushing it to launch a rival $17 billion bid for Cadbury that would include more cash than Kraft's offer.
Foreign Minister's Row Puts Merkel in Bind November 20, 2009
Guido Westerwelle is making his mark as Germany's new foreign minister by blocking a controversial appointment by the lobby of Germans expelled from Eastern Europe after World War II.
Medvedev Decries Election Fraud November 21, 2009
Russian President Dmitry Medvedev, in a rare criticism of the ruling party led by powerful Prime Minister Vladimir Putin, criticized local party officials for manipulating recent votes.
Mumbai Attacks Suspects Arrested November 21, 2009
Italian police on Saturday arrested a Pakistani father and son accused of helping fund and providing logistical support for last year's terrorist attacks in Mumbai.
ECB Takes Step Toward Crisis Exit November 20, 2009
The European Central Bank announced its first active step to unwind the stimulus measures it has used to support the financial sector since the global crisis last year.

CNBC alerts

Health Care Bill Clears First Senate Hurdle November 21, 2009
Sweeping health care legislation has cleared its first hurdle in the Senate on a party-line vote.
The Richest Members of the US Congress November 17, 2009
New Consensus Sees Stimulus Package as Worthy Step November 21, 2009
Wall Street Jobs Slow to Return Despite Record Profits November 20, 2009
Thanksgiving Week Stuffed With Economic News November 20, 2009

Harvard Business

Of Goldman Sachs, the Yankees, and Level Playing Fields
Have you noticed that the two most successful teams in New York City both engender passionately mixed emotions of admiration...
Stop Wasting Time on Voicemail
Every time you make or receive a phone call that involves leaving or listening to a message, you're wasting time....
What Innovators Can Learn from Bill Belichick
Even non-football fans probably heard about Bill Belichick's "blunder" of a call on Sunday night. Believe it or not, the...
Summoning the Courage to Tear Down Walls
On November 9th, the world rejoiced in recognition of the 20th anniversary of the Berlin Wall coming down. The...
Can Good Journalism Also Be Profitable?
Featured Guest: Umair Haque, director of the Havas Media Lab and author of the Edge Economy blog on HarvardBusiness.org....
It's Time to Embrace Evidence-Based Medicine
Evidence-based medicine is gaining momentum in the US, which is a good thing. What's EBM? It's an approach to delivering...

Seeking Alpha

25 Reasons We Will Not Have a Depression November 20, 2009
One particularly vitriolic reader of my last article on The Distorted Shape of the Recovering Economy seemed to think I was predicting a doomsday scenario. I was not at all. Richard Duncan’s tentatively predicted Fall of Rome scenario is a true doomsday scenario, not mine.My focus of late has been much more on the need for transparency and can […]
Stock Market Optimists Revisited: This Is Not Your Father's Stock Market November 20, 2009
Joe Eqcome submits:Having the privilege to have met Sir John Templeton, the founder of The Templeton Funds, I was stuck not only by his crushing intellect but also by his sense of optimism regarding investing. Warren Buffett, a fellow optimist, who upon acquiring Burlington Northern Santa Fe Corp. (BNI) for $26.3 billion said, “It was a bet on […]
The Problem with Geithner: David Brooks Misses the Point November 20, 2009
Gary Weiss submits: David Brooks' New York Times op-ed column today on Tim Geithner (mentioning in the lead my Portfolio cover story) misses the point, I think.The problem with Geithner's approach is not whether or not the banks are recovering because of the TARP program, but the degree to which the profits of the biggest banks have not b […]
Market Volume: Still an Unanswered Question November 20, 2009
Vinny Catalano submits:So, here we are. More than two years into what started out as a credit crisis, one plus year after the Lehman collapse and a question that pertains to the one of the central workings of the equities market cannot be answered.At last evening's Market Technicians Association Educational Foundation seminar, the question your […]
Commercial Real Estate Cliff-Diving Continues November 20, 2009
Rolfe Winkler, CFA submits: Moody’s/REAL released September data for their commercial real estate price index. Month over month drops have been fast and furious this year. -8.6% Mar to Apr-7.6% May-1.0% June-5.1% July-3.0% Aug-3.9% Sept Since the peak in October 2007, CRE prices are down 43%.Complete Story �