Professor Elam

Will Big Oil Follow Big Coal?

Monday Aug 31 2020

Bankruptcies continue in the oil patch. Will big oil learn from big coal?

JCP Talks Failing Chpter 7 Awaits

Moday August31 2020

The attorney for JCP says the rescue is in the wings but then he is still billing for his services.

As the talks stall and Kohls and Target appear to be doing at least okay, it is hard to see who would want to assume the $ 5 B in debt that JCP owes.

Ditto Sears. I suspect there is a lot more news like this ahead.

 

Garden Party

Monday August 31 2020

A comment from a student writing his reflection on Emerso

Living by good character may lead to disapproval by others, but pleasing others’ is not the main goal in life

That reminded me of a song by Ricky Nelson. Ricky was the real life son of Ozzie and Harriett Nelson. The family was featured ina  tv show from  1952 to  1966 The Adventures of Ozzie and Harriett. Like Father Knows Best and Leave it to Beaver and later The Brady Bunch, it told the seemingly impossible story of Anglo families living the perfect American life in the perfect American Sub

https://en.wikipedia.org/wiki/The_Adventures_of_Ozzie_and_Harriet

Note this show was popular throughout the bull market of  1948-66 getting kicked off as the Korean conflict ended. It was popular as it reflected the social mood of the time.

Ricky became a musician and Ozzie a former big band leader, literally invented the music video. He  cut the half hour TV show sort and inserted a video like this of RIcky singing thereby boosting the show ratings and RIcky's career.

Here is Mary Lou referred to in Garden Party

https://www.youtube.com/watch?v=zLkCWT2neuI

But Ricky moved on as musical tastes did as well. Here is doing Honky Tonk Woman, a Rolling Stones hit, on the piano, I did not even know he played the piano!

https://www.youtube.com/watch?v=Mk2L7p9Gtow

Eventually he played Madison Square Garden. The group that showed up  no longer knew him. The result was the song Garden Party, his last mega hit.

But singing to across the decades, he is saying the same thing Emerson tells us across more than a Century, which is this

But it's all right now
I learned my lesson well
You see, ya can't please everyone
So ya got to please yourself

Postscript

Tragically Ricky died in the crash of a DC 3 he had bought from Jerry Lee Lewis.  And so he added to the list of musicians who passed from this world.

Buddy Holly, The Big Bopper, Richie Valens all died in the same crash, subject of the song Bye Bye American Pie.

Also Patsy Cline and Jim Croche would meet similar fates.  I suspect that is why today musicians travel by custom bus.

"Garden Party"

I went to a garden party
To reminisce with my old friends
A chance to share old memories
And play our songs again
When I got to the garden party
They all knew my name
No one recognized me
I didn't look the same

But it's all right now
I learned my lesson well
You see, ya can't please everyone
So ya got to please yourself

People came from miles around
Everyone was there
Yoko brought her walrus
There was magic in the air
'N' over in the corner
Much to my surprise
Mr Hughes hid in Dylan's shoes
Wearing his disguise

But it's all right now
I learned my lesson well
You see, ya can't please everyone
So ya got to please yourself

Lott-in-dah-dah
lot-in-dah-dah-dah

Played them all the old songs
Thought that's why they came
No one heard the music
We didn't look the same
I said hello to "Mary Lou"
She belongs to me
When I sang a song about a honky-tonk
It was time to leave

But it's all right now
I learned my lesson well
You see, ya can't please everyone
So ya got to please yourself

Lot-dah-dah (lot-dah-dah-dah)
Lot-in-dah-dah-dah

Someone opened up a closet door
And out stepped Johnny B Goode
Playing guitar
Like a-ringin' a bell
And lookin' like he should
If you gotta play at garden parties
I wish you a lotta luck
But if memories were all I sang
I rather drive a truck

But it's all right now
I learned my lesson well
You see, ya can't please everyone
So ya got to please yourself

Lot-dah-dah (lot-dah-dah-dah)
Lot-in-dah-dah-dah

'N' it's all right now
Learned my lesson well
You see, ya can't please everyone
So you got to please yourself

 

Divorce Rates Soar

Weekend August 29 2020

Apparently being cooped up together at home is not improving the romance. Divorce rates are soaring from newlyweds to those with longer time to gether.

Being together does not seem to make the hearts go fonder.

China Still Deficient on US Audit Demands

Thursday August 27 2020

The US threatens to remove Chinese companies from US listing on exchanges unless they fully cooperate on 

haccess to audit working papers.

The recent fraud at Luckin Coffee in China could not have come at a worse time.

These are good examples of the problems with globalization and a central govt that will not be open in business dealings

Accounting Career Workship Friday Sept 25

Thursday August 27 2020

 

https://sacpasociety.com/enter-virtual-reality-at-txcpa-sa-meet-the-firms/

Enter virtual reality at TXCPA-SA Meet the Firms

Posted on August 24, 2020 By Amanda Category: Accounting Educators, Accounting Faculty, Students

Accounting Majors, discover the vast empires open to CPAs at the Accounting Careers Workshop on Friday, September 25, between 5:30-7 pm.

Hosted by the Texas Society of CPAs-San Antonio Chapter, this virtual workshop features careers advice from CPAs in tax, audit, forensic accounting, cyber security and business, including

• Jennifer Edwards, CPA/CFF, CVA, Director of Litigation, theKFORDgroup CPAs
• Melanie Geist, CPA, Managing Shareholder, Ridout Barrett & Co
• Samantha McSween, CPA, VP of Finance, Shafer Services
• Carol Severyn, CPA, Group Executive Vice President & Chief Risk Officer, Frost Bank

Participants will also hear from key sponsors, discussing professional development issues pertinent to accounting majors and CPA candidates. An electronic Resume Book of student/CPA candidate resumes will be provided to sponsors.

Firms/Organizations: to learn more about sponsorships, click here.

Students/CPA Candidates: to RSVP to attend, click here.

Galaxy Level Sponsors:

Jedi Level Sponsors:

Force Level Sponsor:

Oroian Guest & Little PC

Tag: Accounting CareersAccounting Careers WorkshopAccounting MajorsMeet the Firms

 

 

 

 

Sylvester Stallone on Success

Wed August 26 2020

Like Arnold S,  Stallone with nothing. He wrote every Rocky script himself.

Take a listen on his advice for success.

Arnold Schwarzenegger on Success

Wed August 26 2020

this is a great motivational speech by Arnold.

Seriously take a listen.

Note this video ha over  8 milllion views.

 

Here are his rules for success.

1) Have goals, purpose, and visions. 2) Don't listen to the naysayers or doubters. 3) We have to work our ass off and advertise. 4) Don't have a backup plan. We function better if there is no safety net. 5) Never doubt yourselves. 6) Everyone fails and losers stay down. To be a winner we have to fail, we have to never be afraid of failing, we have to never stay down, and we have to get up continuously. 7) Being relaxed and giving it everything we have is the best way to perform. 8) Help out others and give back to the world.

Notice number four, no  back up plan. If you have a back up plan you are liable to do just that, back up.

 

Mike Lovelace Discusses SA IMA and the Opportunities it Provides for TAMUSA Students

Monday August 24, 2020

Thursday July 16, 2020 Mike Lovelace SA IMA

Topic:

ACCT 3314 Summer II 2020-20200716 2002-1

Create time:

7/16/20 4:58 pm

File size:

52.93MB

Duration:

33 minutes

Security:

 

Description:

 

Streaming recording link:

https://tamusa.webex.com/tamusa/ldr.php?RCID=dce80559f8760d1d9d0cbecf92dca294

Download recording link:

https://tamusa.webex.com/tamusa/lsr.php?RCID=9abd90a7c344a5a7bd18d139e9ea0c5f

 

Where Accountants Go

Monday August 24, 2020

Mark Goldman CPA is the CEO of MGR recruiters. He is a past President of SA CPA Society. His associate Bryan Edwards will be President next year.

Mark began a series of podcasts that should interest you Where Accountants Go

You can click on a category that interests you for a specific area

I was his second interview, yep click on Education and scroll down to number two. As you can see he is upt to 187. That does not count all the other tips he has in between the interviews.

Here is a link in which Mark and yours truly discuss accounting career opportunities.

https://www.youtube.com/watch?v=vGKrLkBMVcM