Global Business, Finance, and Management Newsletter – August 2009

Dear friends and colleagues,

Welcome to the August 2009 issue of my newsletter featuring selected articles on finance, accounting, audit, and global business.

I hope you will find this information interesting.

Feel free to contact me in case you require any additional information on the topics discussed below.

With very best regards,
Armando Nuricumbo


FINANCE AND ACCOUNTING

Tips on Curbing Corporate Fraud
In 2008, U.S. companies lost $994 billion due to occupational fraud. Here some advice to stop such fraudulent activities.
http://www.webcpa.com/news/Tips-Curbing-Corporate-Fraud-51039-1.html?zkPrintable=true

Audit Problems Found at BDO and Grant Thornton
The PCAOB has released reports on the audit deficiencies that its inspectors found last year at BDO Seidman and Grant Thornton.
http://www.webcpa.com/news/Audit-Problems-Found-BDO-Grant-Thornton-51061-1.html?zkPrintable=true

Accounting standard setters stir controversy
The IASB and the FASB are quickly rewriting accounting rules as companies and nations continue to grapple with the financial crisis.
http://www.economist.com/businessfinance/displaystory.cfm?story_id=14036928


GLOBAL ECONOMY

State capitalism and the crisis
Many corporate leaders and investors act as though globalization remains the dominant paradigm. That is a mistake.
http://www.mckinseyquarterly.com/Strategy/Globalization/State_capitalism_and_the_crisis_2403

CEO manifesto from GE's Immelt
GE CEO Jeff Immelt has a plan for businesses looking for a way forward. Step 1: Ditch the service sector and think exports again.
http://blogs.harvardbusiness.org/hbr/hbreditors/2009/06/finally_a_ceo_speaks_up_on_how.html

Oil-price volatility could jeopardize economic recovery
Energy analysts are mystified by the wild swings in the price of oil. The level of uncertainty is becoming an obstacle to economic recovery.
http://www.nytimes.com/2009/07/06/business/06oil.html?_r=1&ref=business

Skilled Immigrants on Why They're Leaving the U.S.
A long wait for a green card, coupled with the soft U.S. economy, is prompting an exodus of some of the best and brightest.
http://www.businessweek.com/bwdaily/dnflash/content/jul2009/db20090724_178761.htm?chan=rss_topStories_ssi_5


MEXICO AND LATIN AMERICA

New Strategy Urged in Mexico
Mexican President Felipe Calderón's U.S.-Backed War Against Drug Cartels is Rapidly Losing Political Support.
http://www.washingtonpost.com/wp-dyn/content/article/2009/07/27/AR2009072703074.html

Energy Deal With Brazil Gives Boost to Paraguay
For decades Paraguayans have protested the deal they got when they built the largest hydroelectric plant with Brazil along their border.
http://www.nytimes.com/2009/07/27/world/americas/27paraguay.html?_r=1&scp=2&sq=brazil&st=cse

Rebels Obtained Arms Sold to Venezuela, Colombia Says
Colombia’s largest rebel group managed to obtain Swedish-made antitank rocket launchers that had been sold to Venezuela years ago.
http://www.nytimes.com/2009/07/28/world/americas/28Colombia.html?scp=2&sq=colombia&st=cse

Developing nations shine amid the crisis gloom
Many emerging markets have had a good crisis year, or at least a better one than their industrialized peers.
http://www.ft.com/cms/s/0/64976d4c-7b0d-11de-8c34-00144feabdc0.html?nclick_check=1

Fears of deep recession in Argentina growing
Fears that Argentina may slip into prolonged recession are growing despite efforts by the government to paint a very different picture.
http://www.ft.com/cms/s/0/3a570ae0-75fb-11de-84c7-00144feabdc0.html


OTHER MANAGEMENT TOPICS

Managing beyond Web 2.0
Companies should prepare now for the day when Web 2.0 morphs into Web 3.0.
http://www.mckinseyquarterly.com/Business_Technology/BT_Strategy/Managing_beyond_Web_20_2389

Does social-media investment pay off?
Companies that display the most social-media activity show higher rates of growth, a new study shows.
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=110120

Researcher predicts $65B global ad shift to online
An estimated $65 billion in funds that would have been spent on traditional media this year will be directed toward online media.
http://www.forbes.com/2009/07/21/advertising-marketing-business-media-stratigos.html


Recommendations

Language school in Montreal, Canada
The Horizon Language Institute offers a wide variety of options for international students in one of Canada’s most beautiful cities.
http://www.horizoninstitute.ca/en/index.php