That's Interesting

  • Explosions In The Sky, Live In Concert

    If Explosions In The Sky’s records are watershed moments for its fans, then the band’s live shows are a Biblical flood. The group recently released its sixth studio album, The Wilderness. On Thursday, Explosions In The Sky brought its epic, searching sound to a sold-out show at Washington, D.C.’s famed 9:30 Club.

    External Link: http://www.npr.org/event/music/478665908/explosions-in-the-sky-live-in-concert
  • Forecast Errors and Uncertainty Shocks

    Macroeconomic forecasts are persistently too optimistic. This paper finds that common factors related to general uncertainty about U.S. macrofinancial prospects and global demand drive this overoptimism. These common factors matter most for advanced economies and G- 20 countries. The results suggest that an increase in uncertainty-driven overoptimism has dampening effects on next-year real GDP growth rates. This implies that incorporating the common structure governing forecast errors across countries can help improve subsequent forecasts.

    External Link: http://www.imf.org/external/pubs/cat/longres.aspx?sk=44413.0
  • The Italian Banking Crisis

    Why are Italy’s banks in crisis and what’s the impact on business? The country’s banks have huge numbers of non-performing loans, the result of nearly a decade of recession. The economy has shrunk by nearly 10% in that time. Some small banks have already failed, others may follow. What has it been like to do business through these very lean times? Are banks continuing to lend? And what solutions might there be for one of Europe’s biggest players? Ruth Sunderland visits small businesses, the backbone of the Italian economy, and asks what is required to strengthen the banking system.

    External Link: http://www.bbc.co.uk/programmes/p04hqm76
  • Administrator perspectives on Hastie Group

    This 6 February 2013 article from the Australian Institute of Company Directors: “The Boardroom Report” discusses some observations of Hastie Group administrators PPB Advisory. The article suggests that although Hastie Group undertook multiple acquisitons, financial reporting systems where never properly integrated and the Board of Directors did not demand sufficiently detailed information about the underlying performance of the business. If this had ocurred, the eventual demise of the company might have been averted.

    External Link: http://celestefunds.com.au/Portals/0/BR130206.pdf
  • The Feltex Debacle: New Zealand’s Enron? – by Sue Newberry

    Sue Newberry is Associate Professor of Accounting at the University of Sydney, and a member of the New Zealand Institute of Chartered Accountants.

    The collapse into receivership of Feltex Carpets Ltd continues to produce waves of concern [in New Zealand]. Shareholders have commenced a class action against its directors; there have been Securities Commission investigations. This December 2007 article gathers evidence that the Securities Commission has not adequately scrutinised the behaviour of Feltex or its auditors; that Feltex was misleading in reporting its financial situation to its current and prospective shareholders at crucial times; and questions the quality of the work of its auditor, Ernst and Young.

    External Link: http://www.scoop.co.nz/stories/BU0712/S00076/the-feltex-debacle-new-zealands-enron.htm
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