Archive for August 6th, 2007
Accountants are failing investors with “fair value” accounting
6 August 2007If anyone thinks the accounting profession has learned anything following the Enron and Worldcom experiences, they haven’t spent much time thinking about the topic of “Fair Value Accounting.” It would be a trifle more accurate to call it “Fairly Insane Accounting.”
During our most recent audit cycle, I was lucky to be tutored in the [...]
Bay Street Buzz
6 August 2007Courtesy of Bill Vlaad, of Vlaad & Co.:
“Mike Mackasey, left National Bank Financial, not Desjardins as was written last week, to join Dundee Securities as vice-chair.
NBF also lost sales and trader, Jeff Clapp, to Wellington West Capital Markets.
And one more – NBF lost Calgary investment banking analyst, Chuck Chmura, who joined Matco Capital.
Gary Williamson, who [...]
Genuity research on Nortel
6 August 2007It has been a while since I paid much attention to what was going on at Nortel (NT:TSX), and from what I read at Genuity Capital Markets, star tech analyst David Hodgson doesn’t think I’ve missed anything:
Nortel delivered weak Q2/07, with top-line revenue of $2.56 billion, almost $200 million below consensus of $2.75 billion and [...]