3 October 2018
ENRON! Correction, every 50 minutes during the four-hour examination I was walked around the building for 10 minutes, i.e. I was given 50 minutes to model, interrupted for 10 minutes, then another 50 minutes to model, etc. Also, the salary offered was $80,000/yr with a $10,000 signing bonus payable in 30 days of start of employment. Also, I was asked by several to comment on Enron’s hubris. I am not about to say I did not have “confidence/ego” at that point in my life. However, I have learned, and continue to learn, that being humble is best for many reasons.
Question: According to MSN:Money, the elimination of what 15 expenses will save you $9,955.94/year?
Trump considered blanket ban on all China student visas over spying fears – Pg. 1
– …proposal was shelved over concern for its economic and diplomatic impact (Prof Note: Consider the U.S. Universities that would have literally imploded over night! I love the Panda!!!)
– US officials in Beijing made a broader economic argument that most US states enjoyed service-sector trade surpluses with China because of spending by Chinese students
Fed chief defends caution on rate rises despite wage growth – Pg. 2
– Jay Powell cited the experience of the 1990s as he argued an acceleration of wage growth need not trigger too much inflation. The link between tight labour markets and inflation has been “greatly reduced”, although not eliminated, in recent decades…
– Fed officials have been picking up increasing anecdotal evidence of shortages of available workers as US unemployment hovers at 3.9%, with further declines predicted in the coming months.
– Wage growth has accelerated to its quickest pace in nine years while the economy expanded at an annualized pace of more than 4% in the second quarter
– …assess whether there was a danger of the “revenge of the Phillips curve”, but he suggested those risks were limited
Customers’ tips leave workers waiting for fairer pay – Pg. 9
– This week, the UK government said it would ban restaurants from keeping any of the tips that customers pay by card
– Customers may also be swayed by racial and gender biases (or simply their mood). Employers can be biased too, but at least when that is the case, the employee has some legal redress
– Moreover, plenty of customers do not want to have this management function thrust upon them at the end of a meal. There is nothing enjoyable about the quick mental arithmetic, the fumble for spare cash and the worry you have not been generous enough (Prof Note: I am a proud member the Army/Navy Club in DC. Of the many things I enjoy, one of the top is that when my guests and I are finished we simply leave. We are not held hostage waiting for a bill (have signed when seated) nor worried about the staff remembering the gratuity level I, or anyone, leaves. We are all equal.)
– In many states, employers are legally allowed to pay measly hourly sums to “tipped staff” like waiters and barmen
Fed’s Quarles outlines plan to cut lenders’ rules burden – Pg. 14
– The Federal Reserve plans to lighten the regulatory burden on large US banks, …but big foreign banks operating in the US that had also hoped for relief will not see changes anytime soon
– Congress has already ordered the Fed to lift some of the strictest provisions of the Dodd-Frank regulations for banks with between $100bn and $250bn in assets, under legislation earlier this year known as the Crapo Act…
– …G-SIBS [globally systematically important banks]
– G-SIBS face the highest capital and liquidity requirements because of their critical role in the world financial system. US banks that have more than $250bn in assets but which are not on the Financial Stability Board’s list of G-SIBS include US Bankcorp, TD Bank, PNC and SunTrust
Answer: (1) Streaming Services (Prof Note: If you got rid of cable this may be your baseline…like it is mine…love NetFlix!); (2) Phone games; (3) Newspaper subscription; (4) Satellite Radio; (5) Designer Coffee; (6) Life Insurance; (7) Brokerage Commissions; (8) Investment Costs; (9) Cable TV; (10) Premium Gas; (11) Warehouse Club Memberships; (12) Bank Fees; (13) Bottled Water, (14) Gym memberships; (15) Cigarettes