A recent joint study prepared by two professors at the University of Michigan and the University of Texas shows that nearly two-thirds of surveyed investment firm analysts received favors from company executives in exchange for preferential treatment when rating stocks. UT accounting associate professor Michael Clement and UM management professor James Westphal sent 4,500 questionnaires to financial analysts between 2001 and 2003 and sent follow up surveys to hundreds of executives at the large and mid-size public companies covered by the analysts.

A survey commissioned by the United States Mint has found that most Americans don't know that Thomas Jefferson was the nation's third president and a shockingly small number could name the first four presidents in order. The United States Mint released the findings of the Presidential $1 Coin Survey, as the third Presidential $1 coin featuring Jefferson heads into circulation nationwide today."That's what's great about the Presidential $1 Coin Program," said United States Mint Director Ed Moy in a recent event for the new Jefferson coin at the Jefferson Memorial in Washington.

Employers continue to offer higher starting salaries to new college graduates across many disciplines, according to the Summer 2007 issue of Salary Survey, a quarterly report published by the National Association of Colleges and Employers (NACE). "This continues the positive trend reported in the Winter and Spring issues of Salary Survey," said Marilyn Mackes, NACE executive director. "The increased hiring of new college graduates as reported in the NACE Job Outlook 2007 Spring Update survey is translating into even higher average starting salary offers," she added.

Business is being warned to expect no relief from the high price of oil, which was above $70/barrel at the start of the week and could be close to record levels by the end. The International Energy Agency (IEA) has raised its forecasts of average annual rise in the oil demand to 2.2 percent per year for the next five years, up from 2 percent in its previous assessment.

Major hotel markets throughout the United States continued to witness positive growth in 2006 and are expected to repeat that performance in 2007, thanks to increased corporate travel and a surprisingly strong showing from the upper-end of the hotel market, according to the 2007 U.S. Lodging Report released this month by Ernst & Young."The hospitality market in the US continues to move forward, overcoming the challenges posed by numerous natural disasters and human conflicts over the last seven years," said Michael Fishbin, national director of E&Y's U.S. Hospitality & Leisure practice.

Reversing a trend of declining optimism over the past three years, CPAs serving as chief executive officers, chief financial officers and in other executive financial positions have a favorable view of the economy, according to the first quarter 2007 Business and Industry Economic Outlook Survey. The study, conducted by the American Institute of Certified Public Accountants (AICPA), shows that 68 percent of these executives expect their businesses to expand over the next 12 months.

As CEOs develop their growth strategies for 2007, a top priority focuses on the strong execution of all major business processes, according to the Grant Thornton LLP Survey of U.S. Business Leaders, 14th Edition. Almost two-thirds of respondents (63 percent) say they are putting more emphasis on strong execution today than a year ago. More than eight out of 10 (83 percent) survey respondents place the quality of execution throughout the organization among their top three priorities.

As the tax season begins, low-and moderate-income taxpayers are being encouraged by the Federal Deposit Insurance Corporation (FDIC) to take advantage of the Internal Revenue Service (IRS) programs and bank services that can aid them in saving more money."Low-and moderate-income consumers should take advantage of every opportunity to save money on their tax preparation, qualify for tax credits, and use direct deposit to put a part of their refunds into a savings account where it can grow," said FDIC Chairman Sheila C.

We hear about criminal indictments stemming from accounting violations in our own country but do not hear about foreign extraditions from the U.S. or to the U.S. from other countries.