1. At least 3 yrs ago , I emailed friends suggesting the way to dramatically increase jobs in America was to increase the numbers of Auditors. This suggestion met with many comments, none of them positive, ” like we can do it”. Fast forward to 10/1/12 the FT ” Investors push hard for audit reforms.” ” Audit is our check on management; government, and business. If we can’t rely on it, that’s a big problem. ” Really!
2. Good news /bad news. The FT article 10/5/12 Morgan Stanley warns on Wall Street pay and jobs. Now that trading volumes are low , 4000 jobs are going to be cut from Morgan Stanley’s ranks. Pay will decrease for those remaining, especially entry level analysts. Since, Morgan Stanley is not the only Bank looking at cut backs, this may have a negative impact on the economy as we struggle with more people unemployed.
3. NYTimes 10/7/12. Scant oversight of drug maker in fatal outbreak. The title is mis- leading. A drug manufacturer did not make this product, it was made by a drug compounding company. Unlike pharmaceutical companies which are regulated by the FDA, these entities are compounding pharmacies, non regulated. They provide an inexpensive alternative to traditional drug manufacturing . However, it’s time to think twice about this practice of seeking the cheapest price. New England Compounding, was hired by pain clinics in 23 states to produce 17, 676 vials of a steroidal injection to ” control spinal pain”? This compound has caused 7 deaths and has contributed to the illness of 57 others, so far. Real pharmaceutical companies can’t compete. Who can compete with companies producing the cheapest product with no over sight? Is death acceptable, too?
4. LOL Bill Moyers 10/7/12. The Christofer Columbus Syndrome. Every 4 yrs the Hispanic population is re- discovered by the politicians? Maria Elena Salinas. & Jorge Ramos / journalists , coined this phrase. They were not invited to host any of the Presidential debates so they are determined to create their own” Party”. They’re not the only group wanting a seat at the ” Table”. The entire middle class may want to have their own ” seat” and “Party” , too? As the kids say, YOLO!