flextime? so very not…
“In January 2009, accounting giant KPMG unveiled its new Flexible Futures program for its 11,000 UK-based employees. The options include: a four-day workweek and a 20% reduction in base pay; a four- to twelve-week sabbatical at 30% base pay; a combination of the two options; or sticking with the status quo. “ That’s a pay [...]
when $300K per year is just not enough…
Here’s a good joke for you – little bit of gallows humor: “I went to buy a toaster, and it came with a bank.” The joke is from this rather remarkable article about the struggles of getting by in New York City on $300,000 a year. I’m always struck by a very weird combination of [...]
the latest awful idea for college students
Just when you think the ideas couldn’t get any more outrageous: Now comes the latest innovator, SafeStart, just in time for back-to-school season. It aims to reduce the fear of debt that might keep, say, middle-class 18-year-olds from borrowing for school in the first place. SafeStart, owned by a company called BridgeSpan Financial, charges $40 [...]
vacationing with your PDA
Barry Salzberg, CEO of Deloitte, gives us his tips for truly enjoying your vacation! …e-mails are a given on vacation, but a leader needs to establish clear boundaries and expectations. Generally, I make it known that I work for about an hour in the morning and one hour in the evening. Throughout the day, I [...]
one time I feel sorry for lawyers
Richard H. Smith (the former vice chairman in charge of tax services at KPMG) once charged in the biggest tax fraud ever, owes his lawyers a debt of gratitude for getting him out of what could have been life in prison. He also owes them $1.3 million, they claim, alleging one of the more outrageous [...]
the PCAOB throws the iron fist
The Public Company Accounting Oversight Board said Wednesday it has fined a Deloitte & Touche partner $75,000 for allegedly helping Navistar International Corp. (NAV) and unit Navistar Financial Corp. avoid restating 2003 financial results. This marks the second time the U.S. oversight board for public company auditors has ever assessed a civil money penalty against [...]
the Big 4′s burden
“We’ve always had this expectation gap between what the auditor really can do and what the investing public wants the auditor to do, or wants the audit to represent.” – William Parrett, CEO, Deloitte I think Parrett’s a bit disingenuous here – unsurprisingly. The gap is between what the Big 4 claim they do and [...]
the future of America: elder care and Wal-Mart
My jaw dropped open when I read the Times’ piece on job growth in the US over the last 10 years. Hot jobs in the US over the last 10 years? Elder care (and health care in general), management consulting and government jobs. Does that sound like the robust job creation of a superpower? For [...]
G.E. – the next Enron?
There may be more to come. The S.E.C. said that its investigation of G.E. was over, but it did not say that about any of the accounting officials at the company, or any of the people at KPMG, G.E.’s longtime auditor. Link here (“Inside G.E., A Little Bit of Enron”) Maybe I’m overreacting (and you [...]
Homeless Holocaust Survivor Leaves $100, 000 Gift
Hebrew University has received a surprise donation of more than $100,000 from an unexpected benefactor — a woman who survived the Nazi Holocaust and appeared to be destitute, a university official said Sunday. via Homeless Holocaust Survivor Leaves $100, 000 Gift – NYTimes.com. The article goes on to point out she was, as best they [...]
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