Global Business, Finance, and Management Newsletter – September 2009

Dear friends and colleagues,

Welcome to the September 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

Financial Crisis Group Exonerates Accounting
The Financial Crisis Advisory Group has published a report concluding that accounting standards are not to blame for the economic crisis.
http://www.webcpa.com/news/Financial-Crisis-Group-Exonerates-Accounting-51155-1.html?zkPrintable=true

SEC Fines GE $50 Million for Accounting Misdeeds
General Electric broke rules to meet or beat earnings expectations intentionally defrauding investors, says the SEC.
http://www.businessweek.com/bwdaily/dnflash/content/aug2009/db2009084_567813.htm

Accounting Standards Board Moves Decisively to End U.K. GAAP
The ASB released a new draft policy which sets the stage for a future where 'UK GAAP will cease to exist'.
http://www.accountancyage.com/accountancyage/news/2247650/asb-sounds-death-knell-uk-gaap

For Fraud Investigators: Listen, Do Not Look
Forget what you've learned from years of watching cop shows on TV. Liars do not have trouble making eye contact. The guilty don't fidget.
http://www.npr.org/templates/story/story.php?storyId=111809280&sc=nl&cc=es-20090823

MEXICO AND LATIN AMERICA

Mexico smuggler plotted to kill President Calderon
Mexico captured a drug smuggler believed to plot to assassinate President Calderon in revenge for the army's crackdown on trafficking.
http://www.dose.ca/news/story.html?id=1878449

Conservative Piñera Leads Chilean Presidential Race
Sebastián Piñera is poised to secure a victory in this year’s presidential election in Chile, according to a poll by CERC.
http://www.angus-reid.com/polls/view/conservative_piera_leads_chilean_presidential_race/

Santiago airport expansion will require US$500mn
The new concessionaire of Chilean capital Santiago's international airport will have to invest US$500mn.
http://www.bnamericas.com/news/privatization/Santiago_airport_expansion_will_require_US*500mn

Bus-eye view: Seeing Mexico City from the Turibus
If this is your first visit, the hop-on, hop-off Turibus is a must to get the lay of the land and shake off any fear of this enormous city.
http://www.contracostatimes.com/travel/ci_13179381?source=rss

OTHER MANAGEMENT TOPICS

Valuing social responsibility programs
Companies see social responsibility as a way to fulfill the contract between business and society. But do they create financial value?
http://www.nuricumbo.com/files/Valuing_Social_Responsibility_Programs.pdf

Harnessing the power of informal employee networks
Formalizing a company’s ad hoc peer groups can spur collaboration and unlock value.
http://www.mckinseyquarterly.com/Organization/Strategic_Organization/Harnessing_the_power_of_informal_employee_networks_2051

Recommendations

Inter-American Accounting Conference
The most important accounting event in the Americas will take place in October in the beautiful city of Cancun, Mexico.
http://www.cic.org.mx

Land for sale in Zumpango, Estado de México.
45 minutes from Mexico City. Approximately 10,000 m2. Flat. All legal documentation in order. Excellent investment. Sold by owner.
http://www.nuricumbo.com/files/Terreno_en_Zumpango.pdf

Historic house for sale in San Diego, Guanajuato.
30 minutes from Dolores Hidalgo. 3 hours from Mexico City. Excellent location for business. 300 m2. Sold by owner.
http://www.nuricumbo.com/files/Casa_en_San_Diego_de_la_Uni_n.pdf