Another Big 5 Exec Lured To the Internet

Hot on the heels of Andersen Consulting CEO George Shaheen's retirement to head up Internet startup Webvan, Jeffrey Hirschberg today announced his retirement as Vice Chairman of Ernst & Young to become a director of visitalk.com, a web-based telecommunications start up company.

At visitalk, Hirschberg's role will be to help facilitate the company's attempt to build a global directory that allows online voice and video calling. Visitalk plans an IPO by next spring.

What's going on here? Why are top accounting professionals leaving for Internet start ups? The answer is clearly VERY BIG stock potentials. Shaheen's connection with Webvan could yield him a portfolio valued at $100 million. And Hirschberg is young enough to start another career and try his hand at the Internet payoff as well.

The times they are a changin' . . .

You may like these other stories...

Accountants who specialize in forensic and valuation services point to electronic data analysis, or big data, as the most pressing issue they’ll face in the coming months, according to results of a new survey released...
As complex as federal tax can get, at least you're only dealing with one agency: the IRS. But when you get into state and local sales tax, you're coordinating hundreds of jurisdictions that are constantly changing....
All that was needed on Tuesday was a voice vote for the House of Representatives to pass a bill that would prevent state and local governments from taxing access to the Internet.Now the ball is in the Senate’s court....

Upcoming CPE Webinars

Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.