The Week in Review: October 22, 2017

Hey Guys…..This blog is designed to review the current events that occurred in the business world each week.  The information in this blog can help round out your knowledge of the current trends in business and industry.  As you read this blog, think about how this information pertains to your studies this semester.  Enjoy!

Accounting

I came across and interesting interview with Andrew Fastow, CFO who was a part of the Enron scandal 15 years ago.  A couple of week’s ago in my Financial Accounting class we discussed internal controls and the importance of safeguarding company assets and providing clear, relevant and accurate financial statements to the public.  Those of you in my class recall that Fastow was given a sentence of 10 years for his part in the Enron fraud activities.  In the article Fastow shares insight into what his mindset was during his time with the company.  It is an interesting read.  Access it here:

http://www.fraud-magazine.com/article.aspx?id=4294991880

For readers who are unfamiliar with the Enron scandal and its ramifications for businesses, you can learn more from the following two video presentations.

 

Human Resource Management

Throughout the Fall 17 semester we have talked about the importance of putting the human back in human resource management. Treating employees humanly increases productivity, efficiency and keeps employees engaged with the company.  Most importantly, however, treating employees humanly is the right thing to do! Many companies treat their employees humanely but not humanly.  What is the difference between these two terms?  Mary Schaefer explains in this 10 minute Ted Talks presentation.   You can see it below:

 

Ecomomics

Wall Street is all abuzz regarding the next Chairperson of the Federal Reserve.  If you will recall, the U.S. Federal Reserve sets monetary policy.  Monetary policy decisions affect, in part, interest rates and the supply of money for households and businesses.  The current Fed Chief is Janet Yellen. However, her appointment ends in February.  Will President Trump keep Yellen or appoint someone else to the position.  How will this decision affect the marketplace?  Read the following article from the Wall Street Journal to find out!

https://www.wsj.com/articles/trump-likely-to-name-jerome-powell-next-fed-chairmansource-1509206817

Personal  Finance

Wow, 15.4 million people were the victims of identity theft this past year!  This identify theft and fraud costs consumers more than 16 Billion Dollars! The following article from CNBC.com explains the ramifications of this fraud and steps you can take to prevent your identity being stolen.

https://www.cnbc.com/2017/02/01/consumers-lost-more-than-16b-to-fraud-and-identity-theft-last-year.html

And Finally…….

The Dodgers tied up the World Series 2-2 last night.  Game 5 is tonight.

Its Week 8 of NFL Football and the Jets play the Falcons, Dallas plays Washington, Oakland plays Buffalo and K.C. plays Denver on Monday.

Go J-E-T-S …Jets….Jets….Jets!! 🙂

Bacone Sports……

A lot of Bacone sports on tap this week…..from Volleyball to Soccer to Basketball.  Come out and support the teams!

Go Bacone Warriors!

See you next week………..

Mitch

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