Bernanke Cites Drawbacks to Nationalizing Banks – DealBook Blog …
Investment Banking. Industries. Financial Services. Ben Bernanke, the chairman of the Federal Reserve, expressed skepticism Wednesday about the prospect of nationalizing troubled banks and suggested that President Obama’s administration … read more…
Head of Investment Banking | Selby Jennings : Recruitment for the …
One of the leading, fastest-growing investment banks in the Middle East and North Africa is looking to appoint a senior M&A investment banker to head up the team in Cairo. The successful candidate will be heading up a large team (7 … read more…
News analysis: Encore une fois – musical chairs in French banking
Examples of investment bankers moving to asset management have become more commonplace in recent years. SG put its former head of corporate and investment banking, Jean-Pierre Mustier, in charge of its asset management … read more…
From Google Blog Search
The untainted marketing power of affiliates working from home
Hit by the Credit Crunch, Prospects for a rewarding career just gone up in corporate banking smoke? Newbies affiliate marketing secrets spills the beans about what it takes to be successful if you wan… read more…
Brickell � The Manhattan of the South
Imagine living in the same fascinating and exciting environment enjoyed by those known as ?Manhattanites,? but without the frustration of the bitterly cold winter months. Imagine instead that you get … read more…
The Classic As Well As Modern Property Market Of Cyprus
Cyprus, an already established global tourism destination particularly for Europeans from England, Russia and Northern Europe, now has other prospects to look forward to in the years ahead. There are … read more…
From GoArticles.com
Toron partner Karl Berger discusses the implications of an impending market bottom, the signs to watch for and the precautions to take.
Open Question: What should I do with this aimless life?
Well, I’m 22, about to graduate from university after 5 years of study…which is all fine and dandy except over the past 8 months, I’ve grown to hate my field. I can’t stand the thought of getting a job in this industry. It’s so boring, vapid, useless…
Some background: I’ll be graduating with a Bachelor in Math and another Bachelor in Business Administration, majored in statistics and finance. My whole university career, I’ve wanted to do finance. Practically every course I took had to do with investments, trading, mathematical modeling etc, and every internship I did was at a trading firm. Everything was perfect, everything was supposed to culminate to the perfect finance job after graduation!
And then…I got an internship at an investment banking firm and did banking for a while…oh my god, it was the worst year of my life! Everyday, 15 hours of work, no weekends, people on my back all the time, my coworkers talking shit about me…After that disgusting experience, I’ve been turned off finance completely. When I look at stock prices now, all I can think about is the idiots in my office arguing about book value…*shudder*….I can’t stand it now. I can’t stand following stocks any more. I used to love studying derivatives, and now I can’t bear to crack open the new textbooks I had bought. It feels like I’ve become a new person and I don’t know who I am. Short of banking being a stupid practice, it’s over now anyway. There’s practically no jobs in finance. The new grad interview cycles are over, I didn’t apply to grad school because I don’t want to stay in school another 2 years. SIGH
But now what am I supposed to do? I don’t want to work in an office job, staying inside the office all freaking day looking at a computer, wasting my life away plugging numbers for someone else. But what else can I do with my degrees. Math + BBA = Finance
URG. I looked up what it takes to be a doctor, but it turns out because of all those finance courses, I don’t have the prerequisites….
God my life is lame. What should I do with my lame lame life that is non-finance related…
Open Question: Accounting math help 10 pts!!!!!!!!!?
Billy Bob Incorporated has a line of credit from the Down South National Bank that is due to be renewed on February 1. The bank has requested the company’s current Income Statement and Balance Sheet that appear below.
Billy Bob Incorporated
Income Statement
Year Ended December 31
(in thousands)
Revenue:
Sales
$60,000
Other
4,500
Total revenue
64,500
Expenses:
Cost of goods sold
40,500
Selling and administrative
11,625
Depreciation and amortization
1,875
Interest
1,500
Total expenses
55,500
Income before income taxes
9,000
Income taxes
3,600
Net income
5,400
Less: Dividends to common shareholders ($3.86 per share)
2,550
Net income added to retained earnings
2,850
Retained earnings, beginning of year
8,550
Retained earnings, end of year
$11,400
Earnings per share
$8.18
Billy Bob Incorporated
Balance Sheet
As of December 31
(in thousands)
This Year
Last Year
Assets
Current assets:
Cash and marketable securities
$ 1,950
$ 1,575
Accounts receivable, net
3,600
3,750
Inventories
4,875
4,650
Prepaid items
375
225
Total current assets
10,800
10,200
Noncurrent assets:
Investments, at cost
7,950
7,950
Deposits
750
600
Property, plant, and equipment
21,000
19,500
Total assets
$40,500
$38,250
Liabilities and Shareholders’ Equity
Current liabilities:
Short-term loans
$ 1,650
$ 1,800
Accounts payable
5,400
5,325
Salaries and wages payable
1,950
2,025
Total current liabilities
9,000
9,150
Long-term debt
12,000
12,825
Total liabilities
21,000
21,975
Shareholders’ equity:
Common stock, at par
3,300
3,150
Paid-in capital in excess of par
4,800
4,575
Total paid-in capital
8,100
7,725
Retained earnings
11,400
8,550
Total shareholders’ equity
19,500
16,275
Total liabilities and shareholders’ equity
$40,500
$38,250
The bank has also requested that Billy Bob calculate a number of financial ratios. Billy Bob’s financial ratios have not yet been calculated for this year, but the company’s accounting staff has gathered the following industry averages for the ratios from various sources.
Industry Averages
Return on total assets……………………………….
6.4%
Return on common shareholders’ equity……………………………….
12.5%
Current ratio………………………………..
1.86:1
Acid-test (quick) ratio………………………………..
0.85:1
Debt-to-equity ratio………………………………..
1.23:1
Times interest earned ratio………………………………..
7.78:1
Dividend payout ratio………………………………..
39.6%
______________________________________…
Question.
Type and format the Income Statement and Balance Sheet
No formulas required
Format so looks just like the IS and BS above
Open Question: Career Advice – Investment Banking?
I’m an undergrad at the University of Illinois in the college of business. I’m planning on majoring in accounting/financing and eventually getting my CPA.
I’m thinking about becoming an investment banker but I don’t know what steps to take/what classes to take, etc
Morgan Stanley Hires Former Goldman Energy Banker
Posted by vcfeeds via DealBook
» Andrew Lahde Letter: Goodbye, Idiot Bankers | BankersBall. Where Investment Bankers Come to Party. Investment Banking Compensation & Salary
Posted by jordanpearce via delicious
City Offers Retraining, New Biz Help to Embattled Financial Sector
Posted by adaylate2002 via Gothamist
Stanford saga prompts run on banks (CNN)
Posted by bloggingsbyboz via delicious
Stanford saga prompts run on banks
Posted by johnnyvisions via CNN.com Recently Published/Updated
Stanford saga prompts run on banks
Posted by adaylate2002 via CNN.com Recently Published/Updated
Stanford saga prompts run on banks
Posted by intellibitz via CNN.com
Stanford saga prompts run on banks
Posted by intellibitz via CNN.com Recently Published/Updated
Recently Being Discussed on FriendFeed
Leave a comment