Category Archives: News and Events

China’s securities regulators have imposed a $62-million fine and six-month suspension on PricewaterhouseCoopers (PwC) for its failures in auditing Evergrande, the Chinese real-estate developer that collapsed in 2021. What were PwC’s oversights? (1) PwC found material misstatements from 2018-2022 financial … Continue reading →

The Barometer has long suspected that there was line-hopping going on as passengers scramble to board flights.  Everyone wants space for their carry-on bag.  And if you are in groups 7-9, well, your bag will be checked. So, passengers are … Continue reading →

“These inspection results point to some small signs of movement in the right direction.  Still, overall deficiency rates are unacceptable, and firms must do better.  Now is the time to double down on efforts to improve and deliver the audit … Continue reading →

The moral of this story may be this simple:   Careful choosing countries in which you do business.  Cuidado! A secondary moral:  Be even more careful about paying for protection once there. Chiquita Banana began doing business in Colombia and … Continue reading →

The question was sent to the New York Times “The Ethicist” column. Kwame Anthony Appiah went down one of his usual rabbit holes exploring the levels of dementia. And he assures this callous human being, “I’m not saying that you’re … Continue reading →

Always a thrill to see repeat patterns.  Even better to offer a warning.  Smaller banks are facing stiffer regulations. Dog-gone it! Those regulators are demanding that these banks’ financials look healthy. So, the banks are selling off bundles of car … Continue reading →

Oprah shilled for Weight Watchers even as she was losing weight thanks to one of the new wonder drugs intended for those with diabetes (Ms. Winfrey did not disclose which one).  Dieters were convinced Oprah was just following Weight Watchers … Continue reading →

Orange County held its marathon on May 5, 2024.  The winner?  Esteban Prado, clocking in at 2:24;54.  However, Mr. Prado was disqualified after video camera footage of the race showed that men (including his father) on bicycles raced along beside … Continue reading →

The FDIC directly supervises and examines more than 5,000 banks and savings associations for operational safety and soundness. And if you were wondering why the FDIC might have missed a few banks going south here and there it is because … Continue reading →

Flying Southwest is a challenge.  There are no assigned seats – it’s every man, woman, and child for himself or herself in trying to score exit-row seats and avoid the dreaded middle seat. Southwest has attempted to attract business travelers … Continue reading →

Mariano Torres, a night janitor (or environmental services employee in modern parlance) in Hamilton Hall at Columbia University, was just doing his job on the third floor.  He heard a ruckus coming from the first floor but continued to do … Continue reading →

A New York Times reporter went to the University of Chicago to talk with students and faculty about the “encampment” anti-Israel protestors had created.  One, a young lady who is a senior, said, “I came here to hear views that are different … Continue reading →

There’s some news for McKinsey clients.  A grand jury was empaneled in Virginia.  The investigation focuses on McKinsey’s consulting advice to opioid drugmakers.  McKinsey had no comment.  The Barometer does.  “Yikes!” McKinsey has already paid $642 million to resolve opioid … Continue reading →

However, the top-heavy problem is not physical, as in the angle of attack on the 737 MAX or door panels falling form the skies.  Its top-heavy problem is with its executives.  They have ethical tin ears. The most recent issue … Continue reading →