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The New York State Society of Certified Public Accountants, 3 Park Avenue (at 34th Street), 19th Floor Classrooms, New York City. This Breakfast Briefing will also be webcast. Panelists include: Donald T. Nicolaisen, former Chief Accountant, U.S. Securities and Exchange Commission (invited); Ernest T. Patrikis, Esquire, a partner in the New York office in the firmwide Bank and Insurance Regulatory Practice of White & Case, will review how the new law will affect banks; Maury Cartine, Partner-In-Charge of Alternative Investment Group Tax Department, Marcum LLP, will discuss the provisions affecting the regulation of advisers to hedge funds, provisions affecting Wall Street and in particular, the provisions affecting the swap market; Robert C. Hockett, professor, Cornell University Law School, an expert on financial law. Moderator: David Herszenhorn, New York Times Congressional Reporter on Financial Reform This is the ninth in a series of NYSSCPA Breakfast Briefings. (Other briefings featured the Presidential Tax Forum; Madoff and Taxes; an Economic Update and Key Washington Tax Issues. All Breakfast Briefing webcasts are available on the NYSSCPA home page at www.nysscpa.org.) 8:30-10:30 AM. To obtain press credentials for the live briefing or webcast, contact Lois Whitehead, NYSSCPA Public Relations Manager at lwhitehead@nysscpa.org or 212-719-8405.
Join us for Drink Night on September 29 at Playwright’s Celtic Pub, 732 8th Avenue (between 45th & 46th Streets) from 6-8 PM and learn more about the issues of valuation from Kenneth S. Hackel, founder and President of CT Capital LLC, an institutional investment advisory firm specializing in the analysis of corporate cash flow and cost of capital in investment decision making. His upcoming book, "Security Valuation and Risk Analysis: Assessing Value in Investment Decision-Making", to be published by McGraw Hill later this November, significantly extends the theories and analysis presented in his earlier book, "Cash Flow and Security Analysis," 2nd edition (McGraw Hill, 1995), which was suggested C.F.A. reading. His new book provides extensive analysis and discussion of innovative methods for cost of capital and return on invested capital that are not dependent upon generally accepted accounting principles or market-derived measures of stock volatility. Instead, his risk models are based on cash flows and extensive credit analysis. To this end, half the book is devoted to the understanding of cash flow; half to cost of capital, as risk to cash flows are meticulously expounded upon. The analysis of risk represents, according to Hackel, the single most important under-explored factor in security analysis and the primary reason for investor disappointment of their investment returns. Two free drinks for members. RSVP: nyfwa@aol.com
The Society of American Business Editors and Writers has invited NYFWA members to attend its annual fall conference Oct. 1-2 at the CUNY Graduate School of Journalism, 219 W. 40th St. in Manhattan. Dozens of business journalists from across the country are expected to attend. To register, go to
http://sabew.org/events/annual-conferences/2010-fall-conference/ Early registration closes Aug. 30. Highlights of the conference include: • Two receptions for attendees to network, one Sept. 30 at Reuters and one Oct. 1 at Bloomberg News; • William C. Dudley, president and chief executive officer of the Federal Reserve Bank of New York, opens the conference with an address the morning of Oct. 1. • Hear experts discuss the early ramifications of health care reform in a panel headed by freelance journalist and editor Elizabeth McBride. • And how bad are state and local governments’ finances? Robert Ward of the Rockefeller Institute and CUNY journalism professor Greg David will give you detailed perspectives. • Officials the Bureau of Economic Analysis and the Bureau of Labor Statistics will reveal how to read government statistics for maximum understanding. Attendees will learn how they might have been computing Gross Domestic Product the wrong way for a long time. • A veteran freelancer, SABEW board member Maya Smart, will provide the basics for setting up a profitable freelance writing business. • And the Donald W. Reynolds National Center for Business Journalism will present on Oct. 2 a special full-day workshop, “Produce a Business News Video in a Day,” that will do just that, even for the complete novice. Separate registration required. • Plus, attendees will be asked to bring their\best work for one-on-one critiques with a noted journalist. Rates are available at the registration website.
The New York Financial Writers Association is pleased to announce that Gretchen Morgenson, assistant business and financial editor and a Pulitzer Prize-winning columnist for the New York Times, is the 2010 winner of the NYFWA’s Elliott V. Bell Award, honoring an individual’s lifetime contributions to the field of financial journalism.
Morgenson has covered the world financial markets for The Times since 1998 and won the Pulitzer Prize in 2002 for her coverage of Wall Street. Previously, she was assistant managing editor at Forbes magazine and the executive editor at Worth magazine. She began her career at Vogue magazine, then worked as a stockbroker for Dean Witter Reynolds from 1981-84, before returning to journalism as a staff writer for Money magazine. Then, as an investigative business writer and editor at Forbes magazine, she broke the story of anti-investor practices on the Nasdaq stock market that was followed by Justice Department and SEC investigations. She also oversaw several Forbes investing sections and its Washington bureau. From September 1995 to March 1996. she served as press secretary for Steve Forbes during his campaign for the Republican Presidential nomination.
She is the author of "Forbes Great Minds Of Business," published by John Wiley & Co., in 1997, and is co-author of "The Woman's Guide to the Stock Market," published by Harmony Books in 1981.
The Elliott V. Bell Award is named for the longtime editor of Business Week magazine who was the founding president of the NYFWA in 1938. It is awarded annually to "an outstanding journalist who has made a significant long-term contribution to the profession of financial journalism." Recent winners include Allan Sloan, Fortune (2009); Jerry Flint, Forbes (2008), and Diana B. Henriques, New York Times (2007). For a complete list, see http://www.nyfwa.org/bellwinners.htm
The NYFWA membership is invited to the Elliott V. Bell Award presentation ceremony on Thursday, October 7, at 6:30 PM, at the CUNY Graduate School of Journalism, 219 West 40th Street. There will be a wine & cheese reception following the award presentation, at which Morgenson will be introduced by Tim O'Brien, Sunday Financial Editor of The Times
RSVPs are essential: nyfwa@aol.com. (Your name must be on the list to be admitted to the CUNY building.)
Rehearsals will be held at Ripley-Grier studios (520 Eighth Ave., between 36-37 streets) on the following Wednesdays (Oct. 13, 20, 27 and Nov. 17) and Mondays (Oct. 18, 25, and Nov. 15). Rehearsal will be held at SIR (520 W. 25th Street, between 10-11 avenues) on Mondays (Nov. 1 and 8) and Wednesday (Nov. 10). Rehearsals run from 6-9 PM, with dinner at 6 PM and music at 7 PM. The dress rehearsal will take place at SIR on Saturday, Nov. 13 (10 AM-4 PM).
What’s the difference between an 8-K and a 10-Q? Even business reporters who know the basics of companies’ financial statements will find value in the New York State Society of Certified Public Accountants’ free breakfast seminar, Understanding Financial Statements for Journalists, on Tuesday, Oct. 26 from 8:30-11:30 AM at the NYSSCPA’s offices, 3 Park Ave. (at 34th St.), 19th floor, classroom C, New York City, or via webcast. CPAs scrutinize financial statements with an auditor’s eye, and now you can benefit from this perspective. Ronald Huefner, University at Buffalo Distinguished Teaching Professor of Accounting and Law, will lead the discussion on balance sheets, income statements, statements of cash flows, ratio analysis, red flags and proxy statements. Huefner will also discuss footnotes, which often contain essential information that is not found elsewhere. Bring your questions! From beginner-level to advanced, any questions about financial statements are appropriate during this three-hour seminar. To make a reservation for the live or webcast presentation of Understanding Financial Statements, contact Cara Patterson, NYSSCPA public relations associate, at cpatterson@nysscpa.org.
The signature event of the New York Financial Writers Association. Marriott Marquis, Broadway ballroom, Times Square. 6:30 for cocktails and 7:30 PM for dinner. Click here for more info.
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