So spake Poor Richard in his almanac over two hundred years ago.  Well, that advice is coming home to big banks that have lent to sub prime mortgage companies.  In intermediate I we study how companies allow for potential losses. We later study how companies allow for additional potential losses with reserves and notes to…

On the heels of the SEC wanting to converge the FASB and IASB, now comes a conference sponsored by the US Treasury Dept.  On the heels of a report by the US Chamber of Commerce, no less than Warren Buffet and Mike Bloomberg are coming to town to speak their piece.  Accounting regs are on…

I recieved this e mail from a good friend, I think while it is somewhat tongue in cheek, it is perhaps right on about American Management, it follows unedited Dennis Elam A Japanese company (Toyota) and an American company (General Motors) decided to have a canoe race on the Missouri River. Both teams practiced long…

Here is an interesting article comparing High Tech and the Housing Bust.  I have made numerous posts about how the housing bust and those who that it would have a soft landing.  Such bubbles NEVER have a soft landing.  There is a good parallel in the article showing how Toll Brothers was much like Cisco…

One of the most famous lines in Hollywood movies comes from Casablanca. THe quote is- What, Gambling in this Establishment, I’m Shocked! It is the understatement by Claude Rains, the French Vichy Commander in Casablanca after being informed by the Germans that gambling is occurring at Rick’s Cafe American. Upon making the startling revelation, a…

Be sure to read Going Global as the SEC tries to reconcile the GAAP of FASB with IASB. The recent 8% meltdown in China shows the gloabl interlocking effect of markets.  ANd the onerous requirements of SARBOX have companies heading for other outposts that can trade their stock. So there is a need to adopt…

Jim Rogers was a harsh critic of India in his Adventure Capitalist book.  Now read why in this B/W Article. Clearly there is no infrastructure. For photos and on the spot commentary go to Jim Rogers website Now ask yourself, why are American companies willing to roll the dice on their future in a place…

FBI Director Freeh yesterday apologized for what the Justice Dept auditors termed shoddy bookkeeping and inadequate record keeping.  Seems that ‘thousands’ (yeah right, read millions) of telephone and e mail records were requested by the FBI above and beyond requirements.  Congresss is, as usual, outraged but also totally oblivious that anything was wrong.  Didn’t Coleen…

Jordan McClary posted such a great question on WEB CT that I am re printing it here and will answer it so all of you can respond. Jordan’s post was as follows. Dear Dennis: A new comment has been submitted to your weblog “Professor Elam,” on the post “Level the Playing Field.” Comment from: Name:…

Many knock on the door but few exceed the bar set by the famous names, and so Chanel, BMW, Pininfarina, Don Perrier, Cartier, Rolex and Omega are just that-targets to aim at.  Everyone tries to copy the winner, hey our Mazda 3 with a 223 bhp FWD engine is faster than a BMW 2.5 3…