A Christmas Miracle?

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A single father stumbles upon $50K in bonds in a discarded Christmas box and tries to return the money to the owner. Questions: 1. What are bearer bonds? What types of journal entries are associated with them for the issuer? Give examples. 2. What had Mr. Tran done that made these bonds worthless? What do… Read more »

The Airline Industry in Africa is Expected to Boom in the Coming Year(s)

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Africa is a continent with the 2nd largest population but only 3% of the global air traffic. The region’s economies are growing robustly and by all indications will continue to do so in the coming years. With a rise in GDP, a corresponding rise in demand for aviation services is to be expected. Questions: 1…. Read more »

It Takes Money to Make Money

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How much would you like to make per hour at your job or your next job? Legendary investor Warren Buffett makes about $1.54 million per hour (even when he is sleeping)! This article documents the 10 richest investors and entrepreneurs and their wealth gains during 2013. Questions: 1. Who is the wealthiest of those ten… Read more »

Target hit by credit-card breach

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On December 19, 2013, Target admitted that it was hit by an extensive theft of its customers’ credit-card and debit-card data over the Black Friday weekend. The theft was national in scope and happened in stores, not online. Questions: 1. When and what happened with respect to a card breach at T.J. Maxx and Marshalls… Read more »

Do you really have a 2nd job?

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This is an interesting fraud that took place at the Environmental Protection Agency (EPA). John Beale, a retired, former EPA employee, collected paychecks from approximately the year 2000 through 2013 even though he had absence totaling about 2 1/2 years. What was his alibi? He claimed falsely that he was simultaneously working undercover in special… Read more »

Plain English: It’s all about influence!

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In June, GSO Capital Partners LP, a unit of the Blackstone Group LP provided a loan to Codere SA, a Spanish gaming operator who owns betting parlors and race tracks in Europe and South America. Interestingly, the terms of the loan provided a guaranteed return on credit default swaps, which outmaneuvered sellers of the protection…. Read more »

Conflict of Interest?

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The commercials may sound wonderful, but unfortunately, patients are being victimized by medical credit cards. The cards, issued by specialty finance companies and commercial banks, carry huge interest rates after an initial zero interest period expires. There are also heavy penalties for late payments. Questions: 1. What types of services can be paid for with… Read more »

Numbers tell the story

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Unless you have been vacationing on another planet, you have probably heard about the government shutdown this week. This video by the New York Times provides some quantification of the situation. Questions: 1. Which number in the video surprised you the most? 2. Explain why not reaching an agreement by Oct 17 on the debt… Read more »

The Reinvention of Pawn Shops

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The pawnshop industry is growing. In 2007, there were approximately 6,400 pawn shops nation-wide. Now there are over 10,000. The expansion in pawnshops is fed, in part, by the increased number of Americans with tarnished credit which often bars them from the mainstream financial system. This article explains some of the niche services now offered… Read more »

Beware of rising rates

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This video offers advice for you on when to lock in low interest rates and pay off credit card debt. Questions: 1. Why does the bond market have so much affect on your life? 2. Why would you want to be as aggressive as you can to pay down credit card debt? 3. Why are… Read more »