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Posted in July 29th, 2008

November 2009
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SEC updates

SEC's New Division of Risk, Strategy, and Financial Innovation Adds Experts to Senior Ranks November 5, 2009
The Securities and Exchange Commission today announced that three experts in the fields of risk management, structured finance and corporate transactions have been named to senior positions at the SEC's newly-established Division of Risk, Strategy, and Financial Innovation. The Division was created in September to enhance the agency's capabilities […]
Statement by Chairman Schapiro on IASB and FASB Commitment to Improve IFRS and U.S. GAAP and to Bring About Their Convergence November 5, 2009
SEC Chairman Mary L. Schapiro today made the following statement: "I am greatly encouraged by the commitment of the IASB and the FASB to provide greater transparency to the standard setting process and their convergence efforts. I believe that these efforts will result in improved financial information provided to investors."
SEC Charges Wall Street Lawyers and Traders in $20 Million Insider Trading Scheme November 5, 2009
The Securities and Exchange Commission today charged a pair of lawyers for tipping inside information in exchange for kickbacks as well as six Wall Street traders and a proprietary trading firm involved in a $20 million insider trading scheme.
SEC Charges 13 Additional Individuals and Entities in Galleon Insider Trading Case November 5, 2009
The Securities and Exchange Commission today announced additional charges in its insider trading enforcement action against billionaire Raj Rajaratnam and Galleon Management LP by charging 13 additional individuals and entities, including three hedge fund managers, three professional traders at New York-based Schottenfeld Group, and a senior executive at Ath […]
SEC Sues Value Line Inc. and Two Senior Officers for $24 Million Fraudulent Scheme November 4, 2009
The Securities and Exchange Commission today charged New York City-based investment adviser Value Line Inc., its CEO, its former Chief Compliance Officer and its affiliated broker-dealer with defrauding the Value Line family of mutual funds by charging over $24 million in bogus brokerage commissions on mutual fund trades funneled through Value Line's af […]

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Start-Up CFO / Mark Macleod

Venture Capital for a 5th grader
It's Friday afternoon, so time for a funny presentation. This one courtesy of the folks at DFJ Gotham Ventures.Venture Capital For A 5th GraderView more presentations from Mark Davis.
VC returns are everyone's business!
Everyone loves to hate VCs. At the same time, everyone wants to be one. There has been no shortage of stories about the dismal returns in the VC industry. And no shortage of proposed solutions from reducing the industry size to completely changing the model.I read an interesting article on the Wall Street Journal yesterday with some shocking stats:Dow Jones […]
Which F1 driver are you?
So F1's 2009 season is officially over. Now begins the long (130 day) wait till next season. To amuse myself this morning I was thinking about F1 drivers and their equivalent startup entrepreneur counterparts. If you don't follow F1, move on, but if you do, which F1 driver are you?Jensen: You got lucky and sold your 1st startup. You know you'r […]
Perspectives on the Term Sheet
If you are in Montreal next Thursday, November 05 come join me, Sunny Handa from the law firm Blakes and Matt Harrison from the accounting firm BDO as we talk about term sheets, how to get them as well as the most imporant things to consider from an accounting and legal perspective.The event will be held at BDO's offices starting at 5:30pm. I hear food […]
StartupCFO Group is hiring
StartupCFO Group works with some of Canada's hottest technology startups. We are seeking an accountant to help record all financial transactions and admin needs of our clients.Key responsibilities:Accounting - Payables cycle (purchases – payable – payments). -Receivables cycle (sales – accounts receivable – cash receipts). - Enter payroll. Contr […]

CFO Wise - Ken Kaufman

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 […]
Are Your Employees the Best Possible Buyer of Your Business?
The following is a real situation with names and details altered for anonymity. The business is struggling and the owner, who is not actively involved in the day-to-day management of the business, wants to get out of the business. He would like to sell the business, but valuations have come down and he wonders if he [...]
Outsourced CFOs Help Businesses Grow and Avoid Pitfalls
The San Fernando Valley Business Journal published an article a couple of days ago that validates the CFO Services that so many start-up, emerging, and medium-sized companies utilize. Titled Businesses Lean on Outsourced CFOs During Down Times, the author highlights the benefits that an outsourced CFO can bring to a business, including helping them grow, [ […]
Does Too Much Success Too Early Hurt Start-Ups?
I attended a presentation at UVEF today by Skullcandy Founder & CEO Rick Alden. By the way, Rick is being considered for the Entrepreneur of the Year award for 2009 by Entrepreneur Magazine. Vote for Rick here! Rick brought up a thought-provoking question that no one had an answer for, including himself. We have all heard of [...]

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...

Mad Men's Bryan Batt (Wine Spectator) November 6, 2009
In the Marchesi di Barolo Cellar with Hilary Swank (Wine Spectator) November 5, 2009
Red Wine Helps the Heart, But How? (Wine Spectator) November 4, 2009
Pop Singer Mick Hucknall (Wine Spectator) November 3, 2009
Fighting Mental Health Stigmas with the Staglin Family and Glenn Close (Wine Spectator) October 29, 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.

Hedge-Fund Giant Surfaces in Trading Probe November 7, 2009
The widening probe of insider trading on Wall Street is expected to examine transactions at Steven A. Cohen's SAC, one of America's largest and most successful hedge funds.
Some Bankers Cool on Rusal IPO November 7, 2009
A $2.5 billion IPO by aluminum firm Rusal will be one of the year's hottest deals. But some banks are cool toward working with its founder, Oleg Deripaska.
Treasury Blocks Fannie Tax Credit Sale November 7, 2009
The Treasury blocked Fannie Mae's proposed sale of $3 billion in housing tax credits to Goldman Sachs and Berkshire Hathaway.
Freddie to Request Further Handouts November 7, 2009
Freddie Mac posted a loss of $6.3 billion and said it expected to ask for more handouts from the Treasury.
Berkshire's 'Green' Bets November 7, 2009
Buffett's MidAmerican Energy is building windmills and investing in high-tech batteries in one of the biggest pushes by a regulated utility in alternative energy.

WSJ - Europe

Berliners Rebuilt Lives as Wall Crumbled November 7, 2009
The Berlin Wall was torn down by the actions of ordinary people who pushed for freedom -- and then navigated the upheaval to remake their lives.
French Driver Disappears $16 Million November 7, 2009
Authorities are searching for the driver of an armored van who vanished with $16 million in cash during a routine round of money-collection in Lyon.
GM Advances Opel Restructuring November 6, 2009
GM marketing chief Robert Lutz will be installed to head Opel's supervisory board as the U.S. auto maker pursues a restructuring of its European operations.
British Airways Plans Job Cuts November 6, 2009
British Airways posted its worst first-half results in history due to falling passenger numbers and yields and plans to cut a further 3,000 jobs by the end of the fiscal year.
Brown Blasts Karzai on Corruption November 7, 2009
The U.K. prime minster said he wouldn't continue to risk British lives if Karzai's government doesn't reform.

CNBC alerts

Week Ahead: Stocks Search for Catalyst in Quiet Week November 6, 2009
Stocks could side step temporarily as investors look for the next catalyst that will break the market out of its current range
Outlook: Dollar Likely to Ride Higher on Bleak Jobs Report November 6, 2009
Buffett's Berkshire Hathaway Says Net Income Tripled November 6, 2009
Cramer: Earnings, IPOs Dominate Next Week November 6, 2009
Buying Fear: How to Own Volatility November 6, 2009

Harvard Business

Is Your Business Ready for H1N1?
Featured Guest: Dr. Robert Blendon, professor at the Harvard School of Public Health and the Kennedy School of Government. RELATED:Business...
Can We Simplify Financial Regulation?
There's a common saying that you never pay attention to your electricity provider unless the lights don't come on. Well,...
How to Ask for Help — Without Looking Stupid
Last week, more evidence emerged in the Securities and Exchange Commission's debacle over the mishandling of the Bernie Madoff über-fraud....
When Should You Let an Employee Make a Mistake?
"Put my training wheels back on," Sophia said in a stern tone, "Or I'm not going to ride my bike!"...
Washington Must Help the U.S. Regain the Lead in Manufacturing
The federal government can and should play a much bigger role in helping American companies regain the lead in manufacturing....
Polycentric Innovation: The New Global Innovation Agenda for MNCs
Recently I delivered a talk a the Council on Foreign Relations titled "Managing the New Trajectory of Global Innovation" explaining...

Seeking Alpha

Positioning for a Bond Rally November 6, 2009
optionMONSTER submits: By David RussellOne big investor is using options and an exchange-traded fund to bet on a rally in Treasury bonds.Complete Story �
Technology Leads the Way in Guidance November 6, 2009
Hickey and Walters (Bespoke) submit: Breaking up the 1,800+ US companies that have reported third quarter numbers into sectors, below we highlight the percentage of stocks in each sector that have raised guidance this earnings season. Overall, about 11% of companies have raised guidance this season. As shown below, Technology has blown all othe […]
The PMI Group, Inc. Q3 2009 Earnings Call Transcript November 6, 2009
The PMI Group, Inc. (PMI) Q3 2009 Earnings Call November 6, 2009 12:00 pm ETComplete Story �
Another Dip in the Earnings Beat Rate November 6, 2009
Hickey and Walters (Bespoke) submit: More than 1,800 US companies have now reported third quarter numbers, and as shown below, the percentage of them that beat earnings estimates has dropped below 70% to 69%. Based on the first half of earnings season, it looked like this quarter might register the highest "beat" rate in at least a dec […]
Recent LBO Mega-Deals Have Much Higher Default Rates November 6, 2009
Research Recap submits: LBOs by Cerberus and Apollo are performing much worse than other private equity deals, while deals by KKR, JP Morgan and Welsh Carson have seen better performance. Excerpts from Private Equity: $640 Billion & 640 Days LaterComplete Story �