September 12th, 2014
Opposition to the mandated use of accrual accounting grew this week, as a bipartisan majority of the House of Representatives urged Congressional leaders to remove the requirement from proposed tax reform legislation.
Saying the requirement for taxpayers with $10 million or more in income to switch to accrual accounting “will have a severely detrimental impact on thousands of businesses in our districts,” 233 House legislators from both sides of the aisle signed the letter to preserve cash accounting. Read the rest of this entry »
September 11th, 2014
A law firm so sure of its work that it guarantees clients will be satisfied or they pay what they believe the work was worth? True. And not just one firm, but at least three now turn pricing over to clients. At Valorem Law Group, invoices come with a “value adjustment line.” The firm invoices for the agreed upon amount, then allows the client to reduce the fee, even down to zero, if it chooses. “The Value Adjustment Line is one important way we show our clients that we trust them. Few firms are willing to put their fee in their client’s hands,” writes Patrick Lamb, a founding member of Valorem, a business litigation firm with offices in Chicago and San Jose, Calif. ” In practice, it is rarely used.” ABA Journal
September 10th, 2014
Green Key Resources, has been named to the prestigious Inc. 5000 list of the nation’s fastest growing private companies. Inc. magazine ranked Green Key for its triple digit growth rate on the widely regarded list, where such firms as Dell, Pandora and LinkedIn gained early national exposure.
“We’re excited to be named to the Inc. 5000 list,” said Andrew Chayut, Managing Partner of Green Key Resources. “Growing 140% in three years could only be accomplished by the efforts of our recruiters and everyone on our internal support teams who work hard to build relationships with our clients. Read the rest of this entry »
September 9th, 2014
The nation’s 50 highest paid human resource executives saw their average comp package decline by 6.9% last year, and that’s after a 2012 cut that averaged 6.3%.
They may have to cut back on the caviar, but none are in danger of going hungry. The average comp package of the top HR executives at public companies, as reported by Human Resource Executive Online is $2,478,045. Read the rest of this entry »
September 8th, 2014
The balance between work and life is getting better on Wall Street, say the finance professionals who work there. They rated the Blackstone Group number one among all banking firms in the annual survey of the best firms, conducted by career research firm Vault. As prestigious a brand as Blackstone is, and as strong a program as it offers for junior bankers, the survey respondents ranked it in the top five for it s quality of life. It was the second year in a row that Blackstone Group beat Goldman Sachs for the top spot on the Vault Banking 50. Overall, the 3,600 respondents to the annual Vault survey said the work-life balance among Wall Street firms improved. The average is now average 7.09 points,up from 6.90 last year. The New York Times
September 5th, 2014
Calico, Google’s biotech startup, is partnering with drug maker AbbVie Inc. in a research deal that could cost $1.5 billion just to get it underway.
Both companies will each invest up to an initial $250 million, and are prepared to come up with another $500 million each, to begin developing treatments for age-related ailments. At the top of their list are drugs to address neurodegeneration and cancer.
Google hasn’t been forthcoming with information about Calico, in which it is the primary investor. The Wall Street Journal called it “secretive.” Google formed the company last year with former Genentech CEO Arthur Levinson. He, and a former Genentech colleague Hal Barron now run the company. Read the rest of this entry »
September 4th, 2014
If you’re the kind of leader who takes no prisoners, refuses to admit defeat or, worse, failure, and thinks moving fast and first is the path to success, these “20 Ways to Become a Better Leader Right Now” may seem like heresy. From number one –” Apologize without hesitation” — to the 2oth — “Start your meetings by sharing something personal” — these tips, suggestions, ideas, however you want to describe them, are almost anathema to the hard-charging corporate manager. But like a good wine, let them breath for a while as you consider the potential each one offers for improving your leadership style and nurturing, rather than marshaling, your team. Inc.
September 4th, 2014
When active military are ready for a new assignment, seniority allows them to request certain postings. Military procedure is that they discuss the options with a human resources officer. Even the best of the HR officers, though, can only hope to know of some of the potentially thousands of openings and locations worldwide.
Recently discharged veterans and those not long from returning to civilian life have a different problem. Finding a job for them is complicated by the different languages military HR and civilian recruiters speak. Often, in the translation, too much is lost, leaving highly trained specialists struggling for any entry-level positions. Read the rest of this entry »
September 3rd, 2014
With little fanfare, in fact as if almost in stealth mode, New York City has become the fastest growing market for fintech investment.
Second only to Silicon Valley, and gaining on that hotbed of venture capital activity, New York’s fintech cluster has grown twice as fast as the West coast’s tech center over the last five years. Says a report from Accenture and The Partnership Fund for New York, “Deal volume grew 31% annually, compared to Silicon Valley’s 13%, and investment grew 45% annually, compared to Silicon Valley’s 23%.” Read the rest of this entry »
September 2nd, 2014
Looking into the crystal ball and trying to predict anything is always a risky proposition. A quarter century ago The Wall Street Journal took a crack at it and got most of it wrong.
Airplanes travel no faster today than they did in 1989 and though Malaysia is doing just fine, it’s China that’s become the powerhouse of the 21st century. The Journal did get it right when it said that work-life balance would become an important issue by 2014, and when it predicted that more women would move into the senior executive ranks, but men would still dominate. Read the rest of this entry »