March 30, 2004
"Accounting Irregularities = Sell?": Not So Fast
Is it too early to say what impact Sarbanes-Oxley is actually having on quarterly earnings reports? Not according to the famous money manager Jim Cramer [trivia fact: he's a Harvard Law grad].
He believes the compliance landscape has drastically changed—and that the witches' brew of analysts' puffery, Internet chat-room rogues, all-CNBC-all-the-time, and vulpine CEO's and CFO's is not returning any time soon. Why?
- the DOJ takedown of Arthur Andersen (too radical even for Eliot Spitzer's blood);
- SOX itself, which beyond anything else awakens CEO's and CFO's to the prospect of personally going to jail should their sub-alterns get too aggressive; and finally
- that white-collar jail-time is now as serious, if not more so, than that meted out garden-variety felons.
He may be right, he may be wrong, but he's putting his money where his mouth is.
Posted by Bruce at March 30, 2004 1:29 AM | TrackBackPosted to Compensation | Cultural Considerations | Finance Printer-friendly version
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)
"Adam Smith, Esq. is, and will remain, the definitive
voice on law firm strategy."
—David
Jabbari, Global Head of Know-How, Allen & Overy
"I just don't know what the profession would do without you."
—Chairman, AmLaw 25 firm
“Constantly stunning.’—Managing Partner
"I read three things: The Wall Street Journal, The Economist,
and Adam Smith, Esq.—and I tell my partners to do the same."
—Managing Partner, AmLaw 50 firm
“You have a fascinating niche which you cover ever so much better than
does the conventional legal press.”
—Walter Olson of Overlawyered
“Required reading: Amazing.”—Venture Capitalist
"You're the brand name in law firm economics. There is no one out
there—repeat, no one—who covers this business better, or thinks about
it more creatively, than you. I tell people this guy is really, really good."
—Chair/Managing Partner, AmLaw 50 firm
Business Pundit
CorporateCounsel.Net Blog
Conglomerate
BusFilm by Larry Ribstein
Business Pundit
Carnival of the Capitalists
Chicago Boyz
Ensight
Marginal Revolution
Ronald Coase Institute
Stephen Bainbridge
"Adam Smith, Esq.,"® an inquiry into the economics of law firms, and the maroon banner, are a federally registered trademark belonging to Adam Smith, Esq., LLC, which is partially owned and controlled by Bruce MacEwen.
This weblog is licensed under a Creative Commons License.
