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	<title>Chris Miller &#187; economy</title>
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		<title>Sarbanes-Oxley regulation should be eliminated</title>
		<link>http://www.ee99ee.com/blog/2009/10/06/sarbanes-oxley-regulation-should-be-eliminated/</link>
		<comments>http://www.ee99ee.com/blog/2009/10/06/sarbanes-oxley-regulation-should-be-eliminated/#comments</comments>
		<pubDate>Tue, 06 Oct 2009 14:38:09 +0000</pubDate>
		<dc:creator>cmiller</dc:creator>
				<category><![CDATA[Accounting]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[financial regulation]]></category>
		<category><![CDATA[SOX]]></category>

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		<description><![CDATA[The Sarbanes-Oxley act (SOX) was a bill sponsored by Paul Sarbanes (D-MD) and Michael Oxley (R-OH), passed by congress and signed into law by President George W. Bush in 2002. The bill was a result of outcry from the financial industry and business world about the then-recent failures of several large companies such as Enron and MCI due to accounting scandals. The act, also known as “Public Company Accounting Reform and Investor Protection Act,” might be better called the “Accounting Industry Protection Act” because the result of the new legislation has been in alleviating financial auditors from liability of poor work on the auditor’s part. Specific restrictions and costs for small companies who are or want to be publicly traded are found in the details of section 404. This part of SOX regulation requires that auditors effectively do risk-assessment of the organization being audited relative to the entity’s internal controls, focusing on the effectiveness of these controls. Under the new guidelines, company boards and executives are now forced to focus and sign off on auditor reports covering mundane details about the internal control effectiveness of the organization. In order to succeed, smaller companies often focus on higher growth revenue models[more]]]></description>
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		<title>Rough times may be ahead for tech industry</title>
		<link>http://www.ee99ee.com/blog/2009/10/06/rough-times-may-be-ahead-for-tech-industry/</link>
		<comments>http://www.ee99ee.com/blog/2009/10/06/rough-times-may-be-ahead-for-tech-industry/#comments</comments>
		<pubDate>Tue, 06 Oct 2009 12:13:09 +0000</pubDate>
		<dc:creator>cmiller</dc:creator>
				<category><![CDATA[Technology]]></category>
		<category><![CDATA[apple]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[financial]]></category>
		<category><![CDATA[google]]></category>
		<category><![CDATA[microsoft]]></category>
		<category><![CDATA[tech industry]]></category>

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		<description><![CDATA[Since March of this year major stock market indices have gained about 50% in value. The tech industry is on par with this growth during the second and third quarters of 2009. This increase is from a bottom in the market back in March originating from a decline that started in late 2007. This decline was due in part to overinflated fear of financial system collapse and the changing political environment in the US. As a result, the past two years have seen a major shift in the landscape of tech industry entrepreneurship. Looking back, the late 1990’s and early 2000’s brought a wave of tech Initial Public Offerings (IPOs) that made silicon valley the place to be. Today, most technology companies seek financing through private equity investors, while the IPO landscape has nearly faded away. Exploring the trend of the few tech IPOs made in 2009, they all have one thing in common: their initial market capitalization is much less than that of the “boom” days. Once an IPO has been made, a common pattern is for the company’s market value to fall, although the IPOs from this year eventually regain to their initial offering price. This is a[more]]]></description>
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