• Professor Elam

    Monday Feb 16, 2015

    We had a great class in Ethics  5308 this past Saturday. I identified numerous websites about the Brian Williams fiasco, and the class really got engaged.

    Now Brian has lots of attention on Twitter as the public goes viral

    https://twitter.com/hashtag/BrianWilliamsMisremembers?src=hash

    And, exactly what does the word, misremembered mean, that dismisses personal accountability?

  • Professor Elam

    Monday Feb 16, 2015

    Well here we are again with if not an oil field bust, a huge downturn with lots of jobs eliminated. 

    In the past I have thought it would have been a good idea during these times, i.e., the aftermath, to develop some alternate paths of endeavor for the Permian Basin or South Texas.

    A great deal of oil field work involves metal fabrication. I have seen exquisite paint jobs on natural gas processing units that did not have a single flat surface but there were no paint drips anywhere. 

    Here is an example of what I am describing. 

    XKS.com specializes in restoring Jaguar and other British sports cars.  This in turn spawns  other work like specialized paint shops. Take a tour on the website and you will see some exquisite metal work. 

    While on specialty shop would hardly support an entire town, a chain of such shop along with the manufacture of retro parts, like fenders, hoods, interiors for say 1960s mustangs and cameros would be  a pretty good start. The same sort of idea might extend to 

    refurbishing antique tractors, a growing field

    airplanes

    trucks

     

    I met one fellow who does this for wooden wagons,he is located in fredricksburg

    We already have custom boot makers, this could be extended to all sorts of tack gear as wellas western wear. There are no less than two magazines devoted to just such activity. Remember more people ride horses now than when Wyatt Earp was alive!

    This would also be a high end type business with well to do clients. In short it would not be so subject to the cyclical nature of the oil field. 

    An example is the location of the CAF at the MAF airport. The CAF does this type of work on WW II aircraft. The dry climate here is one reason the  CAF readily moved from the Valley with its high humidity. 

    As is always the case, the aftermath of a boom brings plenty of affordable metal buildings with large overhead doors, high ceilings, which would be handy for this sort of work. 

     

  • Professor Elam

    Monday Feb 16, 2015

    At the conference last week I was asked about my presentation. Here was my elevator pitch.

    Why does Tesla sell for $215 a share with no earnings, a future that depends on a  yet to be invented battery, and no dealer network

    When Ford which sells millions of cars and trucks and makes money sells for one tenth that

    This is contrary to what one  learns in finance class

    This article from Bloomberg explains that it is in fact social mood gone insane. Read this passage, one is not buying for financial return but emotional return. 

    For anyone who feels depressed about living in the post-space shuttle era, buying a Tesla or even just a share in Tesla can feel like claiming a small piece of the Space Age. Like space travel itself, buying a Tesla or a share of the company isn’t something you do because you expect it to return some specific return but because it appeals to some deep human need for adventure. Which is fine, for anyone with enough financial bandwidth to be able to enjoy an adventurous investment. Just be prepared for more rational investors to call you, well, crazy.

     

  • Professor Elam

    Friday Feb 13, 2015

    An all black Little League team won the national championship only to later be denied the win due to recruiting violations.

    The Jackie Robinson team beat the Evergreen Team 43-2.  Evergreen cried foul, noting Robinson had recruited players outside their assigned boundaries. 

    Chicago Team will not return trophy until it conducts its own investigation.

    Here is a quote from the article.

    Civil rights activist the Reverend Jesse Jackson compared the team's plight to racist policing, and the team hired law firm Henderson Adam LLC, which has represented high-level politicians accused of corruption, including imprisoned former Governor Rod Blagojevich.

    Ethics are what one practices when no one is looking. The losers here are the kids on the team. With a lop sided score like that, did they need players outside their area?

    But remember this is Illinois . Blago joined four former governors from that state who have gone to jail.

  • Professor Elam

    thursday Feb 12 2015

    DeLoitte has appointed the first woman CEO among the Big Four. Screen Shot 2015-02-12 at 4.20.53 PM

    You can bet the other three are embarrassed to be in second place on this one, Look for  a flurry of move ups by women in CPA firms. 

  • Professor Elam

    Thursday Feb 15 2015

    We are studying corporate governance in ACCT 5308 Ethics. This article examines how various companies have globalized  their Code of Conduct. One firm shows a 50 minute film   demonstrating  how employees in various cities around the world would handle an ethical challenge.

    Another firm  has quarterly meetings in which teams are challenged to solve an ethical dilemma.

    Focus group surveys indicated employees wanted specific examples.

     

  • Professor Elam

    Thursday Feb 12, 2015

    Dump the idea of billing by the hour.  CPAs and lawyers routinely track every fifteen minutes of work and bill to someone.

    This article suggests value pricing, a sort of Sears good, better, best idea. No don't cheapen the services. As the author notes, whether you are in coach or first class, the plane has to land safely for all on board.

    All work is not the same and all clients are not the same.

    Here is another good idea for a research paper.

  • Professor Elam

    Wed Feb 11, 2015

     

    I have no idea ho might be there.

    Please remind all students that the career fair will be held on Tuesday, February 24 in the Vista Room, Room  402 in the Central Academic Building from 1 to 4 p.m. We have worked hard to ensure a diversity of employers;  career opportunities for every major will be promoted.  Even if your students are not ready for a job yet, please encourage them to come speak with employers to find out about the types of jobs they offer, what they look for in candidates and what are their hiring practices and procedures.  Knowing that information can really pay off when they do have to look for a job.

     

    Thanks for your help and please contact me if you have any questions.  Please see the attached for our flyer if you would like to display it and a list of the attending employers.

     

    Annette R. Wilson

    Director of Career Services

    Texas A&M University-San Antonio

    Central Academic Building

    One University Way

    San Antonio, TX 78224

    Annette.Wilson@tamusa.tamus.edu

    Phone:  (210) 784-1342

  • Professor Elam

    Friday Feb 6, 2015

     

    Radio Shack is officially bankrupt.

    The stock soared to $74 in 1999, today it is literally a dime. One of the lessons of capitalism is creative destruction. RSH should have become an amazon type on line electronic retailer. They did not or at least were too late to the party trying to sell on line. The result, like so many other electronic retailers that have come and gone, is bankruptcy. 

  • Professor Elam

    Friday Feb 6 2015

    We had a couple of people drop out so there are two spots open. TAMUSA and UTSA students have been invited to help with registration and all the details involved with a 200 person conference. It will be held at the downtown Westin. Check out he details at this link

    https://chapters.theiia.org/san-antonio/Events/Pages/2015-Annual-Conference.aspx

     

    This is a great opportunity to learn about internal auditing and meet SanAntonio professionals. You will be allowed to sit in on the presentations as well. But time is of the essence, our final list has to be in my Monday

    E mail me at dennis.elam@tamusa.tamus.edu