• Professor Elam

    Thursday February 7 2013

    The Justice Dept is suing Standard and Poors for $5 B for misrepresenting the quality of bond ratings. Justice alleges this contributed to losses during th e2008 meltdown.

    Professor Elam  believes that if S & P had downgraded the bonds that Justice would just as likely accuse A & P of contributing to the problem. In that scenario it is not hard to imagine S & P downgrading the bonds, then all who had to hold investment grade bonds would be looking or forced to sell into a market with no buyers, again a disaster.

    Justice will of course not find fault with the asleep at the switch SEC or Fannie Mae or Freddie Mac, all of whom have culpability in this.

     

     

  • Professor Elam

    Thursday Feb 7 2013

    Over $200,000 in Becker CPA Exam Review scholarships available View as a webpage
    Becker- Professional Education®  
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    Reminder: Apply Today for a Becker Scholarship

    Becker Professional Education is proud to introduce theNewton D. Becker Scholarship program, created in honor of Becker's founder. The scholarship focuses on Newt's vision of helping students and accounting professionals fulfill their dreams of earning the CPA credential by offering deserving individuals financial assistance to prepare for the CPA Exam. The scholarship criteria are based on qualities important to Newt: high moral character, strong leadership and commitment to community service.

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  • Professor Elam

    Wednesday February 6 2013

    We have two more great presentations planned for Brook City Base Campus. These will be Thursday March 21 and 28 at noon.

    March 21 We will have a presentation  from the Institute of Management Accountants

    March 28 Tim Kuhn Internal Audit Manager for HOLT CAT will be here to discuss how internal audit assists CAT dealer network in the USA with headquarters in San Antonio. HOLT CAT recorded over one billion in revenue this past year. This is a great chance to learn a lot about a leading enterprise in San Antonio.

  • Professor Elam

    Tuesday Feb 5 2013

    Tutoring for accounting and business finance is now available at Brooks

    To schedule an appointment call student life at

    210 784 1329

    or e mail

    tutoring@tamusa.tamus.edu

    Tutoring Hours

    Mon – Wed 12 – 5 PM

    Thursday 12 – 4 PM

    would hours sunday afternoon be better,just wondering…

  • Professor Elam

    Tuesday February 5 2013

    NO not Elliott Ness but the whole gang on Wall Street that gambled pulbic money and was then bailed out by the government when the bets went bad. An alert student posted this Frontline article. I agree it is well worth watching.

  • Professor Elam

    Tuesday Feb 4 2013

    Barry Rtiholtz notes that DELL has spent as much on stock buy backs as it has made lately.

    Another Article notes, Shareholders Finally Out of Their Misery.

    Please read these articles for class. There is much to learn in terminology. There is also much to discuss in terms of ethics, who was Michael Dell batting for. Be prepared to discuss the history of Dell, the stock price history, and what value is finally placed on the company going private.

    Ethically

    Who are the stakeholders?

    The CEO and Chairman of the Board are primarily responsible to who?

    How have shareholders fared the last few years?

    Is the final price of I believe $13.60, what the company is worth, fair?  Usually a buy out commands a higher price, and admittedly the stock was trading at ten bucks two weeks ago.

  • Professor Elam

    Tuesday February54 2013 1:05 PM CST

    I literally just received this e mail and am passing it on to all of you.

    My name is Vanessa Lewis and I am the Lead Recruitment Coordinator for the Office of the Comptroller of the Currency (OCC) – Southern District.

     

    The OCC has an entry-level Assistant National Bank Examiner job positing open now, however, it closes this Friday, February 8, 2013.   I realize this is very short notice, but, it is a great opportunity to share with your students.  I represent the Southern District and we are hiring for San Antonio, Houston, Dallas, Ft. Worth, Longview, TX, Oklahoma City, New Orleans, Nashville, Atlanta, and Tampa, FL.  Additionally, we are hiring in numerous other locations across the country, which are listed in the application.

     

    The OCC's primary mission is to charter, regulate, and supervise all national banks and federal savings associations. We also supervise the federal branches and agencies of foreign banks. Our goal in supervising banks and federal savings associations is to ensure that they operate in a safe and sound manner and in compliance with laws requiring fair treatment of their customers and fair access to credit and financial products.

    The OCC is consistently among the Best Places to Work in the federal government.  Among similar agencies it ranks in the top 10 percent overall and ranks near the very top for diversity, family friendly culture, and pay and benefits.

     

    The following link will give you more information about who we are and what we do, and includes the link to apply for our job.

     

    www.occ.gov/ANBECareer

     

     

    Thank you for your consideration.  If you have any questions, please feel free to email or call me.

     

     

    Vanessa Fielder Lewis, NBE

    Spec/Ops Analyst & Lead Recruitment Coordinator,

    Southern District Office

    (214) 720-7021  Ext. 2806

    vanessa.lewis@occ.treas.gov

     

     

     

  • Professor Elam

    Tuesday Feb 4 2013

    Kiplinger  offers alternatives to the traditional four year degree. Notice the comment on certifications which is what I have been saying in class. 

    I had one student who

    continued living at home

    went to community college, but planned it well

    worked for a national firm that paid half his tuition

    went to class Mon thru Thursday and worked Fri Sat Sunday

    and graduated debt frree.

    the governor of one of the Carolinas wonders if states should subsidize those fields that lead to jobs, other fields that do not, perhaps not, whoops, humanities alert…

  • Professor Elam

    Tuesday Feb 5 2013

    I have suggested that all of you need to subscribe to and read the WSJ. I have also suggested that to really advance your career, you need to be forward looking, most of accounting however is backward looking in terms of preparing financial statements. Here are examples of what I mean gleaned from this morning's WSJ.

    -On page one the DELL saga of going private continues. Ten years ago DELL was a star and hailed as such in college textbooks. Today Mike Dell would apparently rather work without the public scrutiny of quarterly reports. The deal is worth $23 which is about where the company is valued now. It also includes $15 B in debt, ouch!

    -Now connect the dots. On page A 15 Who Needs Wall Street?  This op ed traces the rise of private equity financing, remember that guy Romney with Bain Capital? One can also connect the dots to the Year 2002 Sarbanes Oxley Act. Since then foreign exchanges have grown tremendously while the NYSE gets smaller. The big IPOs are much more liable to be in Hong Kong than Manhattan. 

    -Atty General Eric Holder decides to sue S & P over its mortgage ratings. This is the height of irony. It was the government's own Community Development Act that created lousy mortgages and forced banks to make the loans and then its own SEC that turend a blind eye to the speculation in them. Alan Greenspan encouraged more ot his gambling by rescuing Long Term Capital Management.  Alan further encouraged speculation by encouraging ultra low interest rates.  Who;s really at fault here Eric?

    -On the back page, D6, is the latest Lance Armstrong update. ON the athletic stie Strava, Lance as a premium member no less, boasts that 

    According to rivals, peeers, and teammates, I won the Tour de France seven times. 

    Contrition time anyone?

  • Professor Elam

    Monday Feb 4 2013

    There is a lo to learn from reading about Dell going private.