Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Financial Acct
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Tuesday Feb 9 2010 Steve Meyers of Global Perspectives has some thoughts on the market directions for this year. Students have been asking how the Greek debt crisis affects markets. Steve explains that believing the European countries will 'bail out' Greece ignores the basic problem, too much debt. Here is the problem, explained in accounting…
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Tuesday Feb 9 2010 I have added some links to make it easier to expand your world view. The accounting links are to blogs by other accounting professors and writers. These tend to focus more on accounting issues such as the activities of the SEC and the PCAOB. The View from Abroad consists of various…
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Tuesday Feb 9 2010 It seems the number crunchers at Brussels, the EU center, cannot get their arms around what Greece really owes. Yep when in trouble call the Go To For Creative Financing Guys, Goldman. Goldman configured an exotic derivative currency swap allowing Greece to move some of its debt maturities to the future.…
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Monday Feb 8 3020 Yep John Thain got the top job at CIT, the financier that just took bankruptcy. Last time we read about John he got the boot from Bank of America after convincing them to buy Merrill, then he wanted a $10 M bonus for doing so, then it was revealed he spent…
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Sunday Feb 7 2010 Jeremy Warner in the UK Telegram suggests the PIGS are causing investors to question the value of sovereign debt. This article was posted on BB by an alert student in Intermed ACCT, it is spot on and I thought should be shared on the blog. First business debt was questioned and…
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Sat Feb 5 2010 Sara McIntosh blogs on finance accounting auditing. In this blog she takes on the restrictions on the PCAOB, interesting. We will be linking to her blog. Sara takes the view that the PCAOB really cannot do much about the Big Four Accounting Firms, and so we continue to play the game…
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Friday Feb 5 2010 1 11 PM CST We showed Spain yesterday, here is the ETF for Italy and the day is not over yet! Our point to students is that debt ratings matter. The PIGS are in the news and fear of default is causing investors to sell all equities as well in…
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Thursday Feb 4 2010 Worries over Portugal Spain and Greece helped take US markets down today. Well that is what we technicians call the fundamentals verifying the technical state of the market. Markets have been falling since their peak in early January, today continues the trend now well underway. But as I told the students…
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Thursday Feb 4 2010 When I was an undergrad students were protesting the Vietnam War, and various administration policies. Now they are protesting the administration itself. Again Mish details that students at Yuba Community College are protesting a $30,000 raise for the Community College Chancellor's $250,000 salary. Now go re read my post two back about…
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Thursday Feb 4 2010 Our class subject this week is the bond market. The bigger picture is this. State budgets are losing revenue due to decreased sales taxes and property taxes, hard to collect on an empty house. And of course the hardest hit are the states with the worst real estate crisis, California and…
Professor Elam 