http://www.complianceweek.com/kpmg-fires-engagement-partner-fingered-in-insider-trading-scandal/article/288189/ Tammy Whitehouse Officials at KPMG and Skechers USA Inc. have fingered Scott London as the engagement audit partner at the center of an insider trading scandal that has put two companies in a scramble to find a new audit firm and has rocked the highest ranks of the audit profession. Skechers and Herbalife Ltd. […]
By Tara Lachapelle, Brooke Sutherland & Miles Weiss Blackstone Group LP (BX) and Carl Icahn’s bids for Dell Inc. (DELL) are employing a rarely used deal tactic that has yielded both big payouts and big losses for shareholders. The offers allowing investors to retain stock in the floundering personal-computer maker may help them win over shareholders like Southeastern Asset Management Inc., who want […]
“Large deals are flashy and they get people’s attention,” said Scott Rostan, who once analyzed mergers at Merrill Lynch & Co. and now runs New York-based Training The Street, giving instruction on takeovers to new hires at banks. “But the large, transformational deals are really hard to pull off. Typically you have to pay a big price to convince the seller. Synergies are very hard to realize. There may be cultural differences. Put that all together and you’ve got a recipe for disaster.”
Cleaning Up Balance Sheets, One Repo at a Time A new accounting proposal could clear up CFOs’ uncertainty about where to book repurchase agreements. By Kathleen Hoffelder A new proposal by the Financial Accounting Standards Board (FASB) should eliminate the accounting allowances that made it easy for Lehman Brothers and MF Global to mislabel short-term […]
“This is Malone and management’s way of saying Starz has a lot of value on its own,” said Training The Street’s Rostan, a former M&A analyst whose New York-based firm trains new hires at banks on mergers.
http://video.foxbusiness.com/v/2013703363001/citigroup-plans-to-cut-11000-jobs/?playlist_id=933116624001
Sprint Nextel assumes majority stake in Clearwire By Ben Berkowitz and Nicola Leske (Reuters) – Wireless carrier Sprint Nextel Corp (S.N) said it has acquired a majority interest in Clearwire Corp (CLWR.O) by buying a stake from the company’s founder. A similar attempt by Sprint to take control of Clearwire last week was scuttled by […]