Big4 Surveys: Optimism and Positive Sentiment Are Here Again

The Big Four firms periodically conduct global surveys on economic indicators, trends and specific industries. We have blogged earlier that such surveys have been quite accurate in gauging the advent and the depth of our ongoing economic crisis. Since these cover multiple industries, countries and executive levels and are conducted by independent and reputable firms, we can look to them as good indicators of global economic activity and a worthwhile complement to other well watched indices...



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Capgemini First Half Flat, But Second Half Expected Down, Sober Outlook

Capgemini recently reported its Q2-2009 results, and while sales for the first half (6 months) for 2009 were flat to the first six months of 2008 at EUR 4.4 billion, profits for 6 months of 2009 were sharply down from 2008. Operating profit for 2009 was EUR 167 million, down almost 40% from operating profit of 2008 of EUR 288 million, and some of this drop was due to restructuring charges in 2009. Operating margin% fell from 7.6% to 6.6%...

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Shocking Accounting Scandal at Huron Consulting Group

Just after market close on Friday July 31st, 2009, Huron Consulting Group dropped a bombshell on investors by announcing an intention to restate its 2006 to 2009 financial statements due to incorrect accounting of “non-cash charges relating to how payments received by the sellers of certain acquired businesses were subsequently redistributed among themselves and to other select Huron employees”. Shell shocked investors immediately sold HURN stock, causing the stock to fall by an astounding 70% from close of market on Friday at $45 to open at a paltry $12 per share at open of market on Monday August 3rd, 2009, and leading to an instant shareholder value disappearance of almost $700 million...

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