Money Works

Launching Money Stuff podcast discussing financial news and reader submissions; new episodes on Fridays, available on major platforms. Feedback welcome via email. It's an additional option, won't affect newsletter readers.

In the 1960s, the government attempted to limit tax-free stock swaps in funds primarily holding liquid assets; wealth managers found loopholes. Amazon plans to offer employees more cash instead of stock, reflecting a trend across tech firms. Amazon, Meta, Costco, and Pepsi have varying levels of stock-based compensation. KPMG Netherlands falls under PCAOB oversight due to its US business involvement. Macy's Inc. bonds indenture details conditions considered as 'Change of Control.'

Passi can work at CaaS despite securities industry ban due to its reclassification; McKinsey didn't comment on 2022 banking trends presentation; Black missed Nobel due to posthumous policy, Nobel in Economics is technically not a Nobel Prize.

Sheep mowing didn't save money but were liked; still needed to be financially sensible.

BF Borgers, founded in 2009, rapidly grew into a major US auditor but faces criticism for possibly overextending. It notably audited Trump Media & Technology Group, cautioning financial instability. Despite its small team, it's the eighth largest in the US by client count.

After initial guaranteed compensation, success depends on performance and available resources; consider if the move offers personal growth and more opportunities.

Tricked government into $750M contract, not seen as taking money. Theory not applied to pump and dump scams, raising insider trading legality question. Also involves crypto's complexity.

Andrew Hohns introduces a financial model to offload banks' carbon emissions, leveraging financial strategies and carbon offsets, while raising questions about the valuation and moral implications of such schemes. In parallel, Donald Trump's financial overestimations showcase similar themes of illusion versus reality, reflecting broader societal questions on responsibility and environmental accountability.

Mohamed Ali Rashid, former Apollo partner, acclaimed for significant contributions, faced controversy over billing personal expenses including a lavish Hamptons vacation, leading to a SEC investigation. Over three years, Rashid accrued $290,000 in unauthorized expenses, resulting in a $240,000 fine, $189,000 disgorgement, $25,000 interest, and a one-year industry ban. Apollo paid $52.7 million over the governance issue. Rashid's story illustrates the dramatic highs and lows in private equity.