Accounting & Investing Info for San Antonio A & M
States by law must live within their budgets. We study budgeting in
chapter 9 of the cost ACCT 3314 course. Click to see how various states
are doing in handling their budget gaps.
If in the classic multiple choice gambit you picked
None of the above, move to the head of the class!
Ron Paul, long a critic of the Federal Reserve, has sponsored HR 1207
This time he might actually get somewhere with the idea. HR 1207 has 179 co sponsors, a copmpanion bill has been introduced in the Senate by Vermont Independent Sanders . The way the FED is throwing money around, about time I would say.
I always enjoyed Freidman's comments on KLBJ talk radio when I was able to listen. And so I grabbed this one off the shelf at the library.
If Tom Clancy had written this as fiction, it would end his writing career. What is amazing is not so much the predictions of hundreds of people in outer space in Battle Stars, but what Friedman simply assumes will not happen.
The 2008 financial meltdown had happened and is mentioned in the book. Yet Friedman, unlike anyone else I have read, seems to think the economy of the US, hundreds of trillions in his words, dwarfs current problems a few trillion at most. Everyone else notes that that the debt is currently equal to the annual GDP and that off balance sheet promises of social security, medicare, etc. are probably equal to future discounted value. But somehow this problem just goes away.
Fredman also assumes the current Jihad problem is essentially over. Gee, can we come home now? By some miracle, Israel is still around in 2040, as is Iran. How we keep Iran from eliminating Israel is not addressed. That Muslim problem in France, once they attain a 51% majority, bye bye France, this too is ignored. Friedman dismisses China as THE future power saying China is hemmed in geographically. Perhaps so but China is also home to 1 Billion + of very hard working very bright people, ever see a Chinese business in the US fail? Friedman sees the US as still a teenaged country, the US continues to grow technology throughout the next century. With the outpouring of engineers and mathematicians in the Far East, and the lack of same here, that is hard to swallow. The top 20% of India and China college grads are more than our total college grads, note women's studies and recreation have not caught on as majors in China…..
Prolonged space exposure results in loss of bone mass. But, again, no problem, we put hundreds of people in space in just a generation or two. Three giant battle stars are in geosynchrous orbit over earth, Japan and Turkey (not a misprint) have formed a coaltion to oppose, are you ready, Poland, and then Japan launches an attack from its moon base that somehow we don't see coming, and ka bang the three Battle Stars explode, (Japan uses a large rock atop its rocket, honest) except that Princess Leiah and Luke Skywalker have escaped the Peru Battle Star in the Millenium Falcon to meet up with Hans Solo on the moon as he infiltrates the Japanese base….meanwhile C3PO breaks into the launch codes of the hypersonic missles located on Iwo Jima…..
okay I made up the Luke Skywalker part but Friedman lays out an outer space war. Frankly I would think the world would sigh with relief that Turkey finally dominated the Arab world, at least someone responsible would be in charge….
A look at the next 20 years would have been interesting, as it is, this is beyond H G Wells or Jules Verne….
The Unintended Consequences continue. My contention all along has been that a GM bankruptcy would put over one thousand GM dealers, and hundreds at Chrysler, out of business. This would spread the distress all over America, not just in the midwest. Dealers forced to expand to new buildings in the last few years would default, and what to do with those floor planned cars on the lots? My point was that it would be cheaper to keep them alive than to suffer the defaults and unemployment claims all over the US.
Now my worst fears are happening. We are getting a government forced bankruptcy, dealers are being willy nilly put out of business, and both sides of the aisle are horrified. Translation, the e mail and phones at Republican and Democrat offices are ringing promising retaliation for failing to support local business.
As the article notes, more GM dealershps will be closed than Toyota has dealerships, do not kid yourself, that is not only a lot of jobs and local loan defaults, it will ripple through local economies. Just as car manufacturers have suppliers, local dealers depend on tire shops, paint shops, and all sorts of others to make things work. Pulling the plug in one month will be very very painful.
Sears SHLD released its earnings last Thursday, showing a positive result. But same store sales are down. This speaks to investigating the whole picture before jumping to any conclusions. Earnings alone are not the whole story.
This sounds like a plot to the latest Tuna, Texas play, but as Dave Barry says, you can't make up stuff like this.
Bryon and Barfbara Woods won the $49 M Texas lottery in July, 2003. And so they drove by the run down Tee Pee Motel in Wharton, TX, Barbara exclaimed, "I always wanted to stay there!" bypassing Diamond Head, Paris, France, and Alaska in one breath, and as they say, the rest is history.
The website provides more details. I thought it would be interesting to use this as an example of Break Even Target Profit in Chapter 6 this summer in cost accounting. I mean, you only get so many chance to camp out at the Tee Pee.
Surprise, it has proven to be a hit with all sort of groups celebrating nostalgia!
Does it catch your eye? Is this a 'classic' Scagletti design? A collector thought so paying $12.1 million for this 1957 Ferrari Testa Rosa.
Only a few dozen were produced and it won consistently from 1958-1961.
We will be studying Total Quality Management and consumer preferences in Managerial Accounting. Ferrari is to this day a producer of a small number of expensive autos. Yet the very name Ferrari like the Fabrege Egg is synonomous with exclusivity. Arrive in a Ferrari and you have, arrived. What other products display such a mystique? The dresses and jewelry on display by famous or would be famous women at the Academy Awards are an example. What factors does such a car possess that no NASCAR racer for example will ever convey?
When does such a manufacture object become an art object? Is it a car, or an artistic expression of its creator? When does a painting, a sculpture, a car, a building (the famous Sydney Opera House for example) become art ? Is it possible to start from scratch and achieve such distinction?
For Want of a Nail is a famous proverb, click to read the proverb and some good analogies, butterfly effect, chaos theory for example.
There is no question in my mind that the most important thing in any organization is
communication. The failure to communicate leads to all sorts of problems. Here are two recent examples.
I was aware that Dr. Sosa Fey had scheduled a Delta Mu ceremony. It did NOT occur to me that accounting majors would be involved. My mindset was simply that Delta Mu was a management group, not true, there are other groups for accounting students though we do not have them here. The nail conundrum continued, as I walked out of the building that afternoon I even picked up a program for that evening. Someone had used a fancy script for the title, making it near impossible to read in my opinion. I gave up reading and left. That of course was the program for the ceremony.
Moving right along, I picked up the license plates for my vehicle at the Toyota dealership. The young lady neglected to point out that the registration sticker was contained in the paper along with the license plates. Needless to say I have no idea where that piece of paper, and my registration, is now. I did put the plates on the car. Now I have to go stand in line, etc. since the dealership did not bother to point out the importance of what they had handed me. Interestingly the dealership was amazed that I did not realize this, but I do not pick up license plates every day. Their solution was to remnd the receptionist to remind people. What is wrong with that solution?
Receptionists come and go, there should be a cover sheet wtih a reminder, and the person should sign that they read it and realize what they received. This is known as an audit trail in auditing.
For want of a nail, the shoe was lost….
Here is a nice article on one of our graduates. IN addition it highlights accomplishments of the campus.
Okay, how many of the Fortune 500 companies are headquartered in Texas?
If you guessed 113, move to the head of the class! We will have each student pick a Texas based company for a report in both Intermediate II and Cost class this summer, how about focusing on San Antonio companies first? My thinking is that we should be building an information base for use in selecting internships.
93 are currently in New York state, gee what does that tell us….
Professor Elam 