September 14,2008: The month of September any year doesn’t seem to be very favorable for financial markets in New York. The recent developments point to what experts say could be yet another depression in US history.

·        Lehman files bankruptcy

·        BOA buys Merrill – $50 billion

·        AIG plans sales to raise billions

·        WaMu in line ?

A bright and sunny weekend in Seattle and an overcast sky in New York for months to come.

More news:

1.      Wall Street on Red Alert

2.      Lehman – Chicken Game over

3.      After Frantic Day, Wall Street Banks Falter

4.      Greenspan: Economy in a once-in-a-century crisis

5.      Wall Street awakes to 2 storied firms gone

It’s the name of a piece of U.S. compliance legislation, with global implications, which was signed off in 2002. A key section, Section 404, went live on Nov. 15. It’s designed to prevent financial malpractice and accounting scandals such as the Enron debacle. It’s also known as the Public Company Accounting Reform and Investor Protection Act. The shorter moniker comes from the names of Sen. Paul Sarbanes, a Democrat from Maryland, and Rep. Michael Oxley, R-Ohio, who are credited as the main architects of the Act. It’s becoming known as SOX or SarbOx or SOA.

The Act covers a whole range of governance issues, many covering the types of trade that are allowed within a company, with an emphasis upon keeping everything above board. For example, the Act forbids personal loans to officers and directors. Former WorldCom boss Bernie Ebbers had taken considerable loans from his company shortly before it became the center of a corporate scandal. Other measures regulate the responsibilities of audit committees sent in to check the health of companies’ compliance. The Act also offers protection to whistleblowers.

While much of this is common sense and achievable, the actual challenge of SOX is ensuring it is observed and that compliance can be demonstrated and accurately monitored and reported. The most common area of focus is the archiving of all communications and the creation of transparent and auditable systems for recording transactions, dealings and any kind of business correspondence. This should mean traders can’t contact one another or analysts on the quiet, and deals can’t be lost in the muddy waters of business. Applications such as instant messaging are also being singled out as areas that need to be secured and made clearly accountable.

That’s been a lot of people’s gut reaction, according to Mark Ellis, Computer Associates’ director of storage and information management. But it’s not quite that extreme. Many companies just assume that as long as they record that data, they will be compliant with that aspect of SOX–which is true, if a little naïve regarding the storage and logistics implications of such thoroughness. Ellis describes this reaction as being “like a rabbit caught in the headlights” and explained that “people need to know what they must keep.”

“Legal compliance is not about what you need to keep, it’s about knowing what you can delete,” he said, imploring companies to find out more about the complicated legislation.

Most companies are having to work with accredited auditors and consultants to ensure they have checked all the right boxes. In the United States, Ernst & Young and PricewaterhouseCoopers account for about a fifth of this market each, with KPMG and Deloitte and Touche accounting for about 13 per cent each. A successful filing from these companies is priceless for the companies affected by SOX.These firms are there to test compliance and search for material weaknesses–flaws that would fail the SOX test–and there is a lot of shareholder trust to be gained from filing for SOX compliance.

Even if nothing bad ever happens, companies cannot afford to be remiss with their compliance. Noncompliance with SOX will probably mean heavy fines–which as yet have not been outlined or defined–and a serious loss of shareholder trust and brand value. After all, nobody wants to think their stocks might become the next Enron shares. Large financial institutions will probably be able to pay any fines with pocket change but the loss of face and the ensuing PR disaster of public naming and shaming could be colossal.

For more information:

Securities and Exchange Commission
Sarbanes-Oxley.com
Deloitte and Touche
PricewaterhouseCoopers
KPMG

 Take a S-Ox Quiz @ http://gbr.pepperdine.edu/031/quiz.html

Source:

http://www.news.com/Sarbanes-Oxley-cheat-sheet/2030-7349_3-5465172.html

Positive people are happier, period. Tapping into your bright side is easier than you’d guess !!!

We all know people whose engagement with life can only be described as joyful. Fittingly, nature rewards these happy-go-lucky types: Being optimistic in middle age increases life span by at least 7.5 years — What’s behind their hardiness: They minimize the destructive effects of stress. Of course, optimists get stressed, But they automatically turn the response off much more quickly and return to a positive mental and physical state.

Here are four habits that longevity experts say are at the heart of a sunny disposition—and that you can adopt, too:

1. THEY WORK THEIR CELL PHONES

People who socialize at least once a week are more likely to live longer, keep their brains sharp, and prevent heart attacks. Just talking on the phone to a friend has the immediate effect of lowering your blood pressure and cortisol levels. Having good long-term relationships provides as many physical benefits as being active or a nonsmoker. Make the effort to connect with the friends you already have. Call now, and before you hang up, schedule a lunch date—personal contact is even better.

2. THEY EXPRESS GRATITUDE (WITHIN REASON)

Buoy your spirits by recording happy events on paper, your computer, or a PDA. People who write about all the things they are thankful for are optimistic about the upcoming week and more satisfied overall with their lives. But don’t overdo it. Find the frequency that works for you – giving thanks shouldn’t feel like a chore.

3. THEY’RE RANDOMLY KIND

Do you perform five acts of kindness in any given day? That’s the number of good deeds that boosts your sense of well-being and happiness. Your karmic acts can be minor and unplanned – giving up your seat on the bus; buying an extra latte to give to a coworker. You’ll find that the payback greatly exceeds the effort. Don’t fret if you can’t make the quota daily. “Being spontaneously kind also delivers rewards.”

4. THEY REAPPRAISE THEIR LIVES

Set aside a little time each week to write about or record—or even just mentally revisit—an important event in your past. Reflecting on the experience can reshape your perception of it, as well as your expectations for the future. When creating this “life review,” you get to list all your accomplishments—an instant self-esteem booster. It’s helpful to look at the bad times as well as the good. Perhaps now that a few years have passed, you’ll be able to see how that breakup or failed job opportunity opened other doors and finally forgive yourself—and your ex-boyfriend or would-be boss. If you can come to terms with past events, you’ll be better able to handle tough times down the road. So be honest, but also go easy on yourself.

Remember: You are the heroine in this tale 

1. Have fewer than two alcoholic drinks a day

2. Watch less than 1 hour of TV daily

3. Read novels

4. Do crosswords

5. Eat fish

6. Drink tea or coffee

7. Keep a journal

WebSmart, like it’s green screen predecessor, is not a case tool. It’s a program generator.

When a new program is created in WebSmart the user runs a wizard that in which the user selects which existing files to use in the program, how the files are related and what the program should do by choosing a template. A full featured program is then generated that includes PML and HTML. After that, the user is on their own to customize the HTML and PML (Program Macro Language).

When a program is compiled the PML is converted into free format ILE RPG and compiled.

The beauty of WebSmart is that there is never a need to deal with any APIs or other ugly code that talks to the web page. All type conversions (numeric to alpha, alpha to numeric) are also handled magically under the covers.

And, best of all, the programs are lightning fast because all programs use native file access via RPG.

The PML language itself is very intuitive as most of the commands map to a similar RPG command. The language is free format and looks like a combination of CL and JavaScript.

The ability to use a GUI editor for HTML is a nice plus. Personally, I use FrontPage but any editor will work as a plug-in.

And, on top of all this you get the best customer support in the industry, bar none!

Reference:

• http://www.mcpressonline.com/mc?14@190.PZCle8PjfTY.0@.6b214683/0!SearchMark=1
• http://www.itjungle.com/mso/mso102202-story05.html

Excerpted from Robin Sharma’s Discover your Destiny.

Rule# 1: Remember that life is a series of seasons. Every human being will have to endure the harshness of a few winters in order to get the glory of best summers. Never forget that winters do not last.

Rule# 2: Join the Hope Club. Big, beautiful and seemingly impossible goals are superb vehicles to keep you inspired. Da Vinci said: “Fix your course to a star and you can navigate any storm.” When you are reaching for great and noble goals that speak to the best within you, your desire to reach them will pull you through the tough times that you will encounter along the seeker’s path.

Rule# 3: Keep in mind, at all times, that we grow the most from our greatest suffering. As we go through it, it hurts. But as we move through it, it also heals. When a jug of water falls to the floor and cracks, what was hidden within begins to pour out. When life sends you one of its curves, remember that it has come to help crack you open so that all the love, power and potential that had been slumbering within you can be poured into the world outside you.

Rule# 4: Failure is a choice. Nothing can stop a man or a woman who simply refuses to be kept down. The book – The Go-Getter is very helpful on this point. Just make a decision from the center of your heart that, no matter what happens to you, you will keep walking the authentic path. Doing so will ensure you a life of real success.

Rule# 5: During tough times, there is a tendency to let go of yourself. As you encounter adversity, have the discipline to maintain your routine – get up early, do your holy hour, eat very well, exercise, spend time with nature. And make sure that you do all you can to keep all four of your central dimensions – the mind, the body, the emotions and the spirit – in fine operating order.

Rule# 6: Feel your feelings. When you are facing hard times, some people will tell you to “just think positive thoughts.” Such advice is not helpful. While living in the past is unhealthy, one must not rush to reframe a so-called negative event as a positive one. Doing so will throw you into denial. Feel through the feelings of hurt, anger or sadness that will naturally surface. It’s okay to be with them. Processing through them allows you to release them. Just don’t get stuck in them. The key is really to strike a balance.

Rule# 7: Remember that, no matter how hard things get, you are never alone.

Source : http://www.mehtanirav.com/2005/09/09/rules-for-going-through-tough-situations/