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- Satyam: Merrill Lynch knewYesterday
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One of the recurring questions from yesterday’s shock revelations at Satyam was the nagging feeling that someone must have known what was going on. Late last night I started to see reports indicating that Satyam’s investment bankers Merrill Lynch knew what was going on. According to The Times of India:
There’s intense speculation as to what [...]
- Innovation in billing: the lawyers are eating our lunchYesterday
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First up in the ABA Journal, Morgan Lewis announces it is ditching the billable hour. Well sort of. It’s de-emphasizing the billable hour as a component driving bonuses for its staff. I’m sure its associates will be delighted, especially when you note that the bar starts at 2,000 hours pa. Given that US lawyers are [...]
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- Innovation in audit oversightYesterday
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I bet you never thought you’d see that as a headline. Neither did I but then Joe Weisenthal’s ‘Nuke the SEC’ post I started to think differently. Let’s start with Joe’s assertions:
First, we nuke the SEC. This isn’t really that radical. There’s precious little evidence that it does what it purports to — namely, protect [...]
- If all else fails…January 7
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…throw your toys out the pram. That certainly seems to be the MO of Tim Worstall and his mob of goons. For those that don’t know, Tim Worstall is a self styled pundit and apologist for the so-called ‘free market.’ There is nothing wrong with that as there should always be room for contrarian views. [...]
- Ready, steady, stopJanuary 6
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There is an irony that as the UK heaves itself back to the workplace, the weather forecasters are warning of a long run freeze. A bit like business’s ability to get credit.
Over the holiday period I received an email from my bank. Paraphrasing: ‘Hi: we trust you had a great Christmas break. We’d like to [...]
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