Professor Elam

Entrepreneur Night

Monday April 15 2013

The South San Antonio Chamber of Commerceis sponsoring Entrepreneur NIght here Wednesday April 17 2013

Tables from 4 30 - 5 30

Lectures from 5 30 - 7 PM

Topics include

Using your Chamber Membership to expand your business

HOw to publicize your business

How to Hire the Right People

Resources for your new BUsiness

 

 

KPMG Insider Leaks

Monday April 15 2013

Here is the latest on the KPMG Audit Partner.

This fellow leaked information in exchange for a $12,000 rolex watch and an unknown amount of money but it was apparenlty tens of thousands not millions. After a 29 year career at one firm and rising to partner this is quite a statement. Would you trade your reputation for a watch?  I like my Timex, I have owned a Rolex and the Timex far handier. I am also not worried about anyone stealing my beat up $35 watch. 

I hope the class will read some other articles on this, a longer one is embedded in this link. This makes for an excellent ethics discussion in class. 

IN Ethics class we discussed the record fine KPMG paid just ten years ago for peddling tax shelters. 

Here is  a link to the KPMG Case I published.

What Was the SAISD Board Thinking?

Weekend April  14 2013

Manuel Isquierdo  withdrew his name as candidate for Superintendent of San Antonio Independent School  District. 

The board was unanimous Monday night when it named Isquierdo. By the time he withdrew Friday, three of its members were openly skeptical he could be a role model for students when he owed $150,000 in federal taxes, had reimbursed his Tucson-area school district $12,545 in disallowed credit card charges and couldn't explain why a grand jury in Arizona wanted information about his marketing of a school laptop program.

Read more: http://www.mysanantonio.com/news/education/article/SAISD-board-at-odds-

4432998.php#ixzz2QQjyjLYk

The $150,000 tax due was caused by selling a California home at a $400,000 loss. So what to do, well double down!  He then bought a $1.15 Million golf community home with $5,000 down. I am assuming he was hoping to flip that house for more money to pay the tax bill but who knows. His claim to fame was creating a lap top program that supposedly increased graduation rates. High tech is the latest fad in Education and all sort of claims are made that students are magically transformed by putting information on an electronic screen rather than a printed page. I suspect his school district merely inflated grades and graduated more students. 

At any rate, the Board voted 7-0 to hire a person with questionable financial understanding to run a multi million dollar school district. And your Mayor was on the scene apparently cheering for this guy. 

Another article quotes a financial blogger questioning the housing choices. And so the candidate 'withdrew' his name. 

It is simply outrageous that a person with a record of making such decisions would be considered for such a job. This board needs some well informed, well financed opponents. 

 

Controls at KPMG?

Wednesday April 10 2013

There are more reports on the KPMG Los Angeles partner resignation in the news. As one client asks, what controls does KPMG have in place to prevent a 'rogue' employee from peddling inside information. 

I published a Business Case Study on KPMG's Tax Shelter Fine. The fact that there are recurring problems at KPMG after they paid the biggest criminal fine in history with out a trial raises questions about their internal controls. 

The Heard on the Street column in today's WSJ discusses the idea of actually signing reports with the personal name of the  audit partner. The UK actually requires this. The idea is that knowing who is in charge will lead to more responsibility. 

External accounting firms are held to a high standard of trust. Now that the number of Big Firms has narrowed from eight to four, the business can ill afford another incident that might implode a firm ala Arthur Andersen. This bears watching. 

What's Up with KPMG?

Tuesday April 9 2013

KPMG and Skechers part company. THe lead audit partner is under SEC investigation.

KPMG kicked out of Herbalife Audit, partner fired. When it rains it pours eh?

The press release says the 22,000 partners condem all this but the publicity is never good.

Student Rating of Instructors

Tuesday April 9 2013

Texas A&M University-San Antonio values the opinions and feedback of our students on the quality of instruction. The "Student Rating of Instruction" (SRI) system gives each student a brief survey for each course he or she is enrolled in at Texas A&M-San Antonio. This semester, we will be conducting the SRIs via an online platform. Paper and pencil evaluations will not be used.

On 4/11/2013 students will receive emails (Jaguar email accounts) with a hyperlink to the SRI for each class. In addition, they can find a link to their SRIs after they login to Blackboard (in the left hand Tools menu on the My Institution landing page - NOT in your courses). Please note the following:

-       The evaluation can only be completed once for each class.   

-       Evaluations are confidential, and faculty and administrators are unable to link student information with completed evaluations.

      -       Surveys for Spring 2013 must be completed by 5:00 p.m. on 5/3/2013.

      -       Faculty members will be able to access the results for review one week after final course grades are due (after final course grades have been posted)

-   While you will not be able to access results until one week after final course grades are due, you will be able to view your class response rates as soon as your students begin to respond. You can view this information by clicking on this link Login.  Please do not share this link with others.

Margaret Thatcher Remembered

Tuesday April 9 2013

 The World Changing Margaret Thatcher by British Historian Paul Johnson. Have you read any of Paul Johnson's books?

The American Margaret Thatcher has yet to emerge. Why not I wonder?  With a record number of female senators I still fail to see one of real conservative conviction.  Where is the person of priciple rather than convenient political vote of the moment?  We do not lack for females with massive progressive conviction, Diane Feinstein and Barbara Boxer continue to lead their state of California to financial oblivion. Stockton CA is now the largest US city currently in bankruptcy. 

Here are some quotes from the Iron Lady. My personal favorite of hers not included in this list - 

I tend to avoid compromise as it invariably leads to an abdication  of principle. 

Intrade Facing Liquidation

Monday April 8 2013

The Irish betting company Intrade  may be facing insolvency. We are studying options in ACCT 3312, notice the SEC accusess Intrade of utlizing option trading that is not approved. A crash in brokerages often accompanies or begins a fall in markets. While this is a quirky non mainstream brokerage it bears watching, Remember Corzine's operation. 

SWTLC 2013

Weekend April 7 2013

The fifth annual Swouthwest Teaching and Learning Conference was held this weekend at Main Campus. Here are a few photos of what happened. 

Leticia Ozuna pictured here with Douglas Carter. As the City Councilwoman from the area including our school, she sdelieverd a fine  talk about leadership and her vision for eduation. 

 

 

 

 

 

 

 

Sheila Pop, one of dozens of presenteers,  from Texas Southern delivered a good summary of her production of an e book on good writing. I found Sheila to be an enthusiastic advocate for better writing
and an engaging personality. 

 

 

 

 

 

 

 

We appreciate our sponsors. Here is Julie Kuljurgis with McGraw Hill. 

 

Richard Laramay and Rick Ungerman were here from Cengage. 

 

 

 

 

 

 

 

 

Trina Maurer Left with Pearson visits with TAMUSA Professor Judy Lewis.

 

 

 

 

 

 

 

Theresa and Denise from Nolan's had a great display, welcome aboard as a first time sponsor!

What's  conference without a great lunch!  Thanks to all our participants and sponsors for our largest event thus far. 

 

Bank of Japan to Reflate

Thursday April 4 2013

The Bank of Japan will attempt to reflate its currency. Why is the BOJ doing this?  What does it mean to reflate the currency?  How does this relate to what other Central Banks are doing? Would this have anything to do with gold prices?