Professor Elam

I attended a CPE seminar conducted by the President of Business Bank of Texas

Ed Lette  is also past President of the San Antonio CPA Chapter. This is another real world example that a knowledge of accounting helps in analyzing financial statements, as well as in assessing risk among loans. Ed made the observation that Austin and Houston have been harder hit than Dallas and San Antonio. Houston because the oil price collapsed. Austin because venture capital is simply taking its money out leaving lots of high tech companies high and dry. We will be studying  break even and target profit in cost this is when that knowledge is really put to use.

I also spent time with an upper level manager at a large Austin high tech concern. It has shrunk in the last two years from 2,500-3,000 to about 1,200. Many of those flks were part timers but a job is a job.

I expect we will see the  real impact this fall as markets seasonally peak in August September and then fall into October.Expect job competition to get a lot tougher.

Last semeseter one alert student pointed out that one of the big Four accounting firms simply dismissed all those new hires that had not passed the cpa exam, brutally efficient, and consdiering the time and effort to hire all of them a real sunk cost.