More new on Money Terms
Another bunch of new pages on Money Terms.
Firstly I finished off last weeks insolvency related definitions with …err.. insolvent.
Once again news stories suggested some new pages: CLO, CBO and CDO, as well as mean reversion.
Living in Sri Lanka, it is hard to be unaware of window dressing or creative accounting.
Finally, historical cost and current cost accounting, as nuts-and-bolts pieces I had been delaying for too long.
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New at Moneyterms
I have finally found the time to do some long intended additions to Money Terms.
I have to thank Richard Beddard of Interactive Investor, for suggesting some topics related to insolvency. I have added liquidation, bankruptcy and receivership, and scheme of arrangement followed naturally from these. I will add insolvency and administration next week.
Once I could have done these off the top of my head. These days I have to strain my memory a bit and do some checking of my facts. I wish I had kept more old textbooks around.
Cov-lite and cockroach theory were suggested by recent news stories, while GOPPAR was fairly obvious given the existing entry on revpar. The Sarbanes-Oxley entry also fills a clear gap, although I never considered it urgent because the topic is more than adequately covered elsewhere on the net.
Finally understanding patent trolls, submarine patents and cross-licensing should give readers a better idea of how the “knowledge economy” works.
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Nortel demonstrates how not to do PR
Nortel has prevented a former subsidiary, Blade, from buying from a rival. The resulting publicity is far more damaging to Nortel than the original, far less widely read coverage, of Blade’s choice of a PBX from Fonality (based on the open source Asterisk) over Nortels own products. (more…)
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How to pay CEOs
Eric Rasmusen has an interesting proposal on how to pay CEOs. I think the underlying ideas is right, but I see one danger in his proposal, and one aspect of motivation that he is missing. (more…)
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Telecity Redbus float plans
Although Telecity Redbus is not yet known to investors, it is very well known in its business: renting space in its data centre for critical servers, together with. The Telegraph reports that it is considering a floatation for around £500m (found via FT Alphaville.) (more…)
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Economist deflates some hype
I am not always nice about The Economist, which I feel is not as good as it once was. However, their chief information officer, Andrew Rashbass seems to be as independent minded and analystical as one could wish, deflating technology hype, and being amusing while doing it.
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Don’t blame the city for job cuts
It is common to hear the City being blamed for pushing companies into cost cutting strategies. I never really believed this, and now comes some solid evidence that Wall Street does not like job cuts. The City is not likely to be different.
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Boots or analysts stupid?
Sir Nigel Rudd, the chairman of Alliance Boots, thinks that analysts are stupid to have failed to recognise the benefits of the merger of Boots with Alliance Unichem. A look at the returns that Boots shareholders have got suggests the analysts were right. (more…)
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How to read accounts: backwards
There is one old but good piece of advice for investors that is often forgotten. This means start with the notes, then read the main body financial statements, and only then read the the directors’ review and other similar material. (more…)
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How to exploit monopolies and distort markets
Here are a few ways in which a company can exploit a strong market position to extend an existing monopoly, eliminate any remaining competition, and extract the greatest revenues at the lowest cost. (more…)
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