Facing a recession, New York Governor David A. Paterson’s administration recently announced it would set up a commission to explore ways to privatize public assets, including the lottery system and the Tappan Zee Bridge. The Governor’s office says right now identifying new ways by which the State finances and delivers infrastructure projects is paramount. “Creating [...]
The global financial crisis is dramatically reshaping the financial services industry in the U.S. and around the world. Today, firms are struggling to adjust to the unfolding global economic environment. Corporate boards are facing unparalleled levels of business complexity, a constantly changing political landscape, new regulations and mounting shareholder demands. Realizing the challenges that lie [...]
The accounting industry remains strong, despite a faltering economy. In fact, the top 100 accounting firms have posted double-digit growth for three years running, according to the latest national Public Accounting Report (PAR) survey of highest revenue accounting firms published by CCH, a Wolters Kluwer business and a provider of tax, accounting and audit information, [...]
The financial markets may be reeling, but distressed investors see opportunity amid the turmoil. Distressed firms are seeing strong interest from investors with 18 funds raising $37.9 billion thus far this year, up 28% percent from $29.5 billion raised by 16 funds at this point last year, according to a recent report from Dow Jones [...]
The U.S. economy has sunk into a recession and government action is critical to stem the damage, according to economists in the latest Wall Street Journal forecasting survey. According to the WSJ report, “It is a challenging scenario for the next president, as the election moves into the home stretch. Either Sen. John McCain or [...]
Perceived risk management failings are driving a spending spree, according to a recent survey from business model advisers SAS. The survey, which polled 316 financial service firm board members, shows that nearly 60% of firms are spending cash to shore up their risk management strategies amid ongoing financial uncertainty. Moreover, the study finds that 70% [...]
As the financial crisis worsens, top law firms are experiencing a boom in work advising banking clients in mergers and acquisitions, bankruptcies and lawsuits. The spate of work began in March with the collapse of Bear Stearns and its government-brokered sale to JPMorgan for about $2 billion, according to Bloomberg. Deal volume, down 36% at [...]
It’s All About Jobs…
Energy and environmental issues were among the hot topics in the second presidential debate between Barack Obama and John McCain. Obama said repeatedly that energy would be a top priority in his administration. He also listed energy as one of his top three concerns. “We are going to have to deal with [...]
As the race for the White House heats up, repairing the nation’s crumbling infrastructure remains one of the pressing issues in which the federal government is being urged to intervene. The American Society of Civil Engineers estimates $1.6 trillion is needed over a five-year period just to bring U.S. infrastructure into a state of good [...]
Jobs (keeping people in their jobs and adding new ones) has emerged as a critical issue for Barack Obama and John McCain as the race for the White House heats up in the final stretch. Following the second of three scheduled Presidential debates, creating jobs and stimulating the floundering economy are foremost on the minds [...]
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