And the New Year Rings In…What?

Here’s the thing. I’ve been an armchair student of economics since my first day at the Wharton School of Business way back in, well, let’s just say disco was petering out at the time (thank goodness). Actually I was a real student of economics then. Now I have moved comfortably to the relative safety of the chair. ...

Shareholder Class Action Filings To Highest Level in 6 Years

The ongoing credit crisis and turmoil in the financial sector have fueled a major surge in securities class action litigation in 2008, according to a new study from NERA Economic Consulting. Filings are projected to reach 267 by year’s end, which would represent a 37% increase over 2007 and the largest annual total since 2002. ...

Make Your Portfolio Say: KaChing!

I love it when technology and Wall Street come together in a seamless fashion, and it appears that is what occurred with a new venture that launched officially this past week. The company is called kaChing, and they have created a socially-minded service for the investor community. Inexperienced investors can use kaChing to learn about ...

Tip of the Week: Messy Isn't Dirty and Not Nice Doesn't Mean Bad

In some cases, a shell is just plain messy.  It is hard to find documents, confirm status of officers and directors, and so on.  Do not mistake a messy shell for a “dirty shell” controlled by a shady operator, but be wary of a shell so messy that getting a deal done becomes difficult if ...

Another Law Firm Bites the Dust

“It is anticipated that Thacher Proffitt will discontinue the practice of law and will begin an orderly dissolution after December 31, 2008,” said law firm Thacher Proffitt & Wood in a press release yesterday. The 160-year old firm will wind down its operations by the end of the year. The firm also announced that 100 ...

What Does Pickens Think About Obama's Energy Team Appointments?

Without a doubt, the energy sector is going to be a hot topic for discussion and governmental development for the next presidency.  But what does one of the leading energy moguls, T. Boone Pickens think about the team President-elect Obama has chosen to lead the nation? If you have even glanced through the ‘Picken’s Plan‘, ...

Emperor Madoff's Suit of Fine Clothing 2

We all know the old folk tale, “The Emperor Has No Clothes,” by Hans Christian Andersen. In the story two weavers convince the emperor to buy cloth so incredible only the wisest in the kingdom could see it. The emperor leads a parade in this supposed fine apparel, until a young child yells: “But the ...

SEC Approves XBRL Reporting Format for Financial Statements 2

On December 17, 2008, the U.S. Securities and Exchange Commission finalized its mandate for public companies to report financial statements using XBRL format. In May 2008, the SEC first proposed the use of XBRL to be effective as of June 2009 for the largest public companies and 2011 for other public companies. The first organizations ...

A Bright Spot for the Economy – Smaller Businesses' E-Commerce 3

No doubt you’ve heard countless reports regarding online retail sales, however one sector of the industry has not garnered the same amount of press as the traditional Fortune 500 companies: small businesses.  Considering that the long-tail makes up a considerable portion of the economic well-being, I thought this was an important statistic to follow.  Thankfully ...

Obama to Tap Mary Schapiro to be SEC Chair

News reports last night indicated that Financial Industry Regulatory Authority (FINRA) head Mary Schapiro will be chosen by President-elect Barack Obama to replace Christopher Cox as the Chair of the Securities and Exchange Commission. We understand Obama will make the announcement official today. If approved by the Senate, Schapiro would be the first permanent female ...