The Government Motors Success, er Quackery Story
GM Beats Second Quarter Estimates By Jui Chakravorty DETROIT | Tue Jul 31, 2007 6:12pm EDT DETROIT (Reuters) – General Motors Corp. GM.N on Tuesday said it swung to a quarterly profit that trounced Wall Street estimates as it benefited from cost-cutting and growing sales overseas, sending its shares higher. This is the headline announcing the Great Obama Success Story. The Dear Leader, through | Read More »
Is the financial crisis the result of accounting rule changes?
As an inhouse lawyer for a Fortune 500 company in the 90s, I can definitively say that many corporate mistakes are based on a desire to get the accounting to “work out” in accordance with the goals of corporate executives.In one instance, I was asked to convert a relatively simple 2-way transaction into an incredibly complex 3-way agreement so that the transaction could be structured | Read More »