U.S. Needs To Deal With Chavez

An avowed friend to Iran and other rogue states, Hugo Chavez is a reality that President Obama needs to deal with now.
http://www.forbes.com/2010/08/17/venezuela-helmerich-oil-intelligent-investing-chavez.html


GLOBAL ECONOMY

Threat of Japanese-style deflation looms for west
James Mackintosh, investment editor, on why Japan's 'lost decade' could yet become a reality for other economies.
http://video.ft.com/v/602715327001/Double-dip-risk-for-US-economy

U.S. homeownership slides toward the lowest rate in half a century
The rate of homeownership in the U.S. could fall to 62% by 2012, the lowest figure in 50 years, according to an industry estimate. The proportion of families owning their homes has been in steady decline since the housing bubble collapsed in 2006.
http://www.usatoday.com/money/economy/housing/2010-08-02-1Ahomeowners02_ST_N.htm?loc=interstitialskip

Afraid of Deflation? Try Some Medicine
It's been decades since the United States endured a long period of deflation. Even if it's only a short-term threat, market strategists see ways to hedge against its effects.
http://www.nytimes.com/2010/08/08/business/economy/08fund.html?nl=your-money&emc=your-moneyema3

Progress on OECD foreign bribery ban
Since Transparency International began monitoring the OECD ban on foreign bribery, countries enforcing it doubled from 8 to 16. This represents important progress. However, it is worrying that 20 countries still show little or no enforcement.
http://www.transparency.org/news_room/latest_news/press_releases/2010/2010_07_28_oecd_progress_report


FINANCE AND ACCOUNTING

Canadian firms prepare to shift to IFRS
Canadian companies offer a preview of what it's like to switch to international accounting standards as their January 1, 2011, adoption deadline nears.
http://www.cfo.com/article.cfm/14519278/

New AICPA commission aims to start discussion about accounting's future
Issues to discuss include the need to change curricula in the wake of rapid business changes, shortages of accounting educators, the rise of more specialized fields of accounting and low funding for accounting programs at many universities.
http://www.aicpa.org/Press/PressReleases/2010/Pages/AAAandAICPACreatePathwaysCommission.aspx

A security policy is good, but a locked drawer is better
Companies must ensure that client information is physically protected and that any paperwork on a desk is covered from other clients' sights to protect confidentiality.
http://www.accountingweb.com/topic/technology/firms-must-protect-information-policy-action

FASB and IASB propose universal revenue-recognition standard
The boards unanimously recommended creating one standard for revenue recognition for all industries that would mandate greater disclosures.
http://www.journalofaccountancy.com/Issues/2010/Aug/20103021



MEXICO AND LATIN AMERICA

Incidence of fraud in Latin America on the rise
Mexico ranks first in Latin America in the incidence of corporate fraud with 75%, followed by Brazil with 68%, and Argentina, with 41%, as measured by KPMG.
http://www.kpmg.com/MX/es/IssuesAndInsights/ArticlesPublications/Documents/Estudios/Encuesta_fraude_en_Mexico_2010.pdf

Petrobras to Raise $32 Billion From Minority Shareholders
Petroleo Brasileiro SA, Latin America’s largest company by market value, plans to raise as much as 129 billion reais ($75 billion) in the world’s largest share sale as it seeks cash to develop offshore oil fields.
http://www.bloomberg.com/news/2010-09-03/petrobras-plans-to-sell-2-17-billion-voting-shares-1-59-billion-preferred.html

Brazilian growth outstrips forecast
Brazil’s economy grew at an annualized rate of 8.9% in the first half of 2010, defying expectations of a more significant slowdown in the second quarter.
http://www.ft.com/cms/s/0/e2ed77ea-b77f-11df-8ef6-00144feabdc0.html

Chile pushes for mining tax increase
Sebastián Piñera, Chile’s president, has sent to Congress a revised bill to increase a key mining tax and “share the bonanza” of high copper prices in a bid to raise $1bn over three years to help fund reconstruction six months after the country suffered a devastating earthquake.
http://www.ft.com/cms/s/0/137b72f4-b555-11df-9af8-00144feabdc0.html



“The difference between school and life? In school, you're taught a lesson and then given a test. In life, you're given a test that teaches you a lesson."
Tom Bodett, American author and humorist


OTHER

Offering Stock to Your Employees: 5 Key Financial Considerations
You can choose to make your employees more involved with your business' future by offering them stock in the company.
http://www.openforum.com/idea-hub/topics/managing/article/offering-stock-to-your-employees-5-key-financial-considerations-thursday-bram

17 Signs that You Are a Great Boss
We all like to think that we are good people to work for, but is it true? Here are a few signs you should be aware of.
http://www.openforum.com/idea-hub/topics/managing/article/17-signs-that-you-are-a-great-boss-steve-strauss

The 20 greatest social-media efforts
The social-media effort for "The Blair Witch Project" has been ranked by Forbes and a panel of marketing experts as the best campaign of its type.
http://www.forbes.com/2010/08/17/facebook-old-spice-farmville-pepsi-forbes-viral-marketing-cmo-network-social-media.html?boxes=Homepagemostemailed

Signing, Singing, Speaking: How Language Evolved
These words you are reading are really just a collection of arbitrary symbols. Yet, after some decoding by your brain, these symbols convey meaning. That's because humans have evolved a brain with an extraordinary knack for language.
http://www.npr.org/templates/story/story.php?storyId=129155123&sc=nl&cc=es-20100822

Succession planning is challenging, but necessary
Planning for a company's future includes devising a process to choose a successor should a company leader leave. The rapid departures of Hewlett-Packard's past three CEOs, which caught the company flat-footed each time, offer a good example of what not to do.
http://www.cfo.com/article.cfm/14518247

Paris metro body heat to help warm building
The warmth generated by human bodies in the Parisian metro will help heat a public housing project in the city centre.
http://news.yahoo.com/s/nm/20100903/od_uk_nm/oukoe_uk_heat_metro_paris


KEY MEXICO STATISTICS
Aug-10 / Jul-10 / Jun-10

Exchange Rate: MXN to USD
12.7457 / 12.8279 / 12.7225

Exchange Rate: MXN to EUR
16.7386 / 16.4808 / 15.7276

Exchange Rate: MXN to CAD
12.3523 / 12.2724 / 12.0907

Country Risk (basis points)
158 / 153 / 179

Bolsa (IPC BMV)
31,680 / 32,309 / 31,379

Cetes 28d
4.58% / 4.63% / 4.60%

Inflation (INPC, annual variation)
3.64% / 4.75% / 3.92%

UDIs
4.427201 / 4.415633 / 4.413205

International Reserves (Millions USD)
106,286 / 103,416 / 100,363

(Source: Mexico Central Bank)