Economic Outlook

Signs of Hope: Frozen Credit Markets Coming Back to Life (The Economist)

The market gyrations continue but over at The Economist, some signs of hope: THE world’s banking system may still be in intensive care, kept alive largely with the help of generous infusions of capital, liquidity and guarantees on lending from governments. Yet there are hopeful—albeit tentative—signs of recovery. The article goes on to cite three […]

Accounting Project Management Technology

Poor ERP Implementation Leads to Restatement by Overstock.com

Overstock.com said it will restate its financial results for over five years due to problems stemming from its implementation of Oracle. Revisions to the company's 2003-2007 results probably will reduce revenue by $12.9 million and increase cumulative net loss by $10.3 million. Excerpt from CFO.com  He explained that as part of a major system upgrade […]

AFP Conferences & Meetings Economic Outlook Finance Research Round Up Treasury & Cash Management

AFP: Credit Markets Stabilizing

A survey of corporate finance professionals attending the annual Association for Financial Professionals (AFP) conference in LA this week reveals that they perceive the credit market is stabilizing due to recent government actions. The U.S. Treasury plan to purchase an equity stake in key financial institutions and guarantee money market funds, along with the Federal […]

Accounting Current Events Financial Reporting Regulatory Environment

Accounting Standard-Setters to Convene re: Credit Crisis Issues

The US and International Accounting standards boards are convening an advisory group to address issues stemming from the credit crisis – starting with fair-value rules. [via CFO.com – emphasis mine] While central bankers and G7 leaders work to form panels to respond to the global banking crisis, accounting standard-setters are doing their part to do […]

Finance

A Short History of Modern Finance (The Economist)

The Economist just published a short history of Modern finance, putting the recent market gyrations in context: [excerpt] THE autumn of 2008 marks the end of an era. After a generation of standing ever further back from the business of finance, governments have been forced to step in to rescue banking systems and the markets. […]

Careers Caught My Eye Technology

Unforeseen Consequences of A Misused Excel Spreadsheet

Beware! Barclay's may end up with Lehman contracts that it did not intend to purchase as a result of an Excel to PDF formatting error: [via SOX First] In a fascinating case, reported by The Register, Barclays intended buying the good bits of what was left of Lehman but a badly put together Excel spreadsheet, […]

Payments News

P2P Lending Services Suffer as Credit Crisis Intensifies

TechCrunch observes that Prosper and other peer-to-peer lenders like Zopa and Lending Club may turn out to be collateral damage from the credit crisis. Coverage: New York Times article TechCrunch (great graphs) PaymentsNews (links to annoucements from P2P lenders)

ECommerce PayPal Russ Jones

A Look at PayPal's Q3 2008 Financial Results

eBay announced Q3 2008 results today, along with a significant PayPal milestone: off-Ebay purchase volume has for the first time exceeded on-eBay purchase volume. Before looking at what this means, the terminology here is worth clarifying. On-eBay purchase volume is all purchases made through PayPal to finalize purchases inside the eBay marketplace. Off-eBay purchase volume […]

Bill Payment & Presentment Conferences & Meetings ECommerce Mobile Banking & Payments Payments News Strategy Technology

Finovate 2008 via NetBanker

Due to a last minute change of plans I am not in NYC for Finovate2008 (and very disappointed) but you can follow along with Jim Bruene who is live blogging at NetBanker. I will add links to additional live and post-meeting coverage over the next couple days, so bookmark this post.

Economic Outlook

Markets heading up, a relief (updated)

Nice to see an upward slope for a change… (updated) Coverage Wall Street Journal New York Times Bloomberg

B2B Payments News

New Article: Electronic B2B Payments are Gaining Momentum - Finally!

My recent article – Electronic B2B Payments are Gaining Momentum – Finally! – was published in the September/October issue of TODAY Magazine, a publication of TAWPI, The Association for Work Process Improvement. The article has recently been posted online at the TAWPI website. [summary] Straight through processing of business payments has long been the holy […]

Economic Outlook

Echoes of a the Great Depression (NYT video)

How does the current financial crisis compare to the Great Depression, and has the government learned the lessons of the 1930s? Watch this (brief) video commentary from Floyd Norris and Louis Uchitelle via The New York Times. And as long as you are watching videos, check out this commentary from Marcus Mabry, The Times's international […]

Economic Outlook Finance

CFOs React to the Financial Crisis (10 interviews via CFO.com)

Finance chiefs tell CFO.com what impact the financial crisis is having on their companies, their access to credit, and their cash management strategies. [ NEW ] Hughes Communications's Grant BarberWhile the satellite internet company is sitting on a ton of cash, its CFO worries about how well its customers are weathering the downturn. [ POSTED […]

Current Events

Economists on the Presidential Candidates (The Economist)

In honor of tonight's debate, here's a political post. In a special report on the US election, The Economist magazine publishes the results of their recent  survey of leading economists on the two candidates economic plans. Full data is available here. Read more at The Economist: Article "Examining the Candidates" Special report on the US […]

Current Events Finance Investment Strategy Treasury & Cash Management

If GE is spooked, what are the implications for less solid companies?

Over at Information Arbitrage, Roger Ehrenberg has the following reflection on the predicament facing many blue chip companies in the midst of the financial crisis: Does GE really perceive themselves to be AAA if they are motivated to raise money on the terms proposed by Mr. Buffett? Something is grossly wrong with this picture. Either […]