You may not agree with him, but he is always fascinating…
Spengler demolishing Keynesianism…
Spengler holding forth on stagnation…
This article accurately reflects what I’ve been hearing from my younger cousins and nieces/nephews in Europe…
“…the alienation and desperation of an entire generation of young people… The EU has plans for a $6 billion initiative to help young people find jobs. But compare that to the $700 billion spent so far on rescuing Europe’s banks. It’s hardly a surprise that Europe’s disaffected youth believe their leaders care more about bankers than they do about them.”
Interesting set of links from a law blog about doing business in China… This one reminded me of the best book on the subject, Mr. China…
Two seemingly unrelated articles here, here and here. Note, for many, lowering exposure to the US markets (stock and bond) is partially driven by concern about government finances. The California post by professor Mead is indicative of problems in the pipeline that may become evident on the federal level in the near future…
…but I can point you to a few places for ideas:
1. “Where to put your money now that Obama has won” – reads like its author must drive by looking in the rear-view mirror; but it is offered as a place where you can consider some ideas…
2. “Why US Economy May Be Headed for Another Recession” – Now they tell us!. The best thing about this one is the David Rosenberg video (inset, towards the bottom).
3. “What Obama’s victory means for investors” – a surprisingly vapid article, still you may find a few things to get out of.
4. “If You Believe in Staples, Clap Your Hands” – the always fascinating David Goldman gives honest advice… and stay away from small cap stocks…
5. “Predictions” from the Grumpy Economist – absolutely the best summary (and overview) that I have seen… and steer clear of long-term government debt…
TOPICS: Accounting, Ethics, Financial Literacy
SUMMARY: This article discusses the WSJ’s “first ever Best CFOs list.” The related article focuses on the career path towards, and opportunity to go to the CEO level from, CFO. The WSJ says its “list of ‘Best CFOs’ was created using a combination of quantitative and qualitative analysis aimed at identifying CFOs who excel at financial management and are major contributor in setting strategy.” The detailed selection criteria clearly bias the results towards CFOs of large corporations (beginning from the Fortune 500 list) and those with financially healthy firms. Strategy-setting responsibilities have not been part of the CFO Job for long, and the related article identifies Sarbanes-Oxley as one reason for fluctuations in job responsibilities and the characteristics of sought-after executives for the CFO position.
The article is useful in any accounting class to discuss the skills that are necessary to achieve the highest level of career achievement from a finance/accounting track.
Reviewed By: Judy Beckman, University of Rhode Island
For CFOs, A Move Past Finance
by Matthew Quinn
Jul 31, 2012
Best CFOs 2012
by WSJ Research
Jul 31, 2012
TOPICS: Government Regulation, Healthcare, Small Business
SUMMARY: Small firms are nervous about the impact of the new health law. The law requires that employers with 50 of more full-time workers provide health insurance to employees by 2014 or pay a penalty. This provision may cause some firms that planned to expand, cut back on their plans to say under the 50 employee threshold. Restaurants and retailers, in particular, may feel the pinch. These industries historically have been the least likely to provide insurance to workers, and may now need to start providing health insurance. McDonald’s, for example, has estimated that the law will add between $10,000 and $30,000 in added annual costs to each of its 14,000 restaurants in the U.S., 89% of which are franchisee-owned. One owner of a Quiznos franchise, quoted in the article, said “I don’t have the profit margin to pay for it.” Some owners who offer limited health-benefit plans have actually said that they might drop their plans and pay penalties rather than provide the more expensive insurance. Democrats who crafted the health-overall law say that employee coverage is essential to making the law work. One benefit of the new law is that it will create insurance exchanges that will allow employers to shop for the most economical health care plans possible.
This article illustrates the impact that government regulations have on small business. Talk to your students about the new health care legislation, and the impact that it will have on small business. Think of a small business that may soon cross the threshold of 50 employees, and the options that the business has in regard to the health care law. Also, talk about the role of government in regulating small business in general.
Reviewed By: Bruce Barringer, Oklahoma State University