Several economic statistics were released today. Most continue to point toward an economic slowdown and moderating inflation.
Personal income increased $60.2 billion, or 0.5 percent, and disposable personal income (DPI)increased $63.9 billion, or 0.7 percent, in July, according to the Bureau of Economic Analysis.Personal consumption expenditures (PCE) increased $78.7 billion, or 0.8 percent. In [...]
NASD Charges American Funds Distributors, Inc. with Arranging $100 Million in Directed Brokerage Commissions for Top Sellers of American Funds
Washington, D.C. — NASD has charged American Funds Distributors, Inc. (AFD) with violating NASD’s Anti-Reciprocal Rule by directing approximately $100 million in brokerage commissions over a three-year period to about 50 brokerage firms that [...]
In the previous post, I talked about the possibility that the new rules about options expensing would result in more opportunities for clever CFOs to manipulate earnings. It seems I was wrong; companies actually manipulated earnings in anticipation of option expensing:
In preparing for adopting the new rule and to lower future stock-option expense amounts reported [...]
Incentive stock options have been in the news again with the “backdating” scandal. The issue is whether various companies’ executives manipulated option grants by backdating them to a time when their stock price was near a low and therefore guaranteeing themselves a profit. I haven’t followed this scandal that closely because frankly, I don’t see [...]
