Le Magazine du Trésorier - n°65 - 1er trimestre 2009 - (Page 40)

NEWS THERE’S A BAILOUT COMING, BUT IT’S NOT FOR YOU“ SALAIRES « CAPPÉS », PARACHUTES DORÉS REMBALLÉS, MAIS QUE VONT DEVENIR NOS DIRIGEANTS D’ENTREPRISES ? La crise, comme souvent, marquera la fin des excès salariaux. Elle a sonné le glas des fameux « parachutes dorés » qui permettent le versement de montants pharamineux à ceux qui quittent l’entreprise alors qu’elle est en piteux état. N’est-il pas paradoxal de voir Merrill Lynch payer quatre milliards de dollars à ses cadres en 2008 alors qu’elle enregistrait sur la même période des pertes abyssales ? B. Obama parle de « capper » à un demi-million de USD les salaires des patrons de Wall Street. Une misère pour entretenir son penthouse à Manhattan et la Ferrari. Un peu plus de vertu et de raison, après une plus grande transparence, était nécessaire. March 2009 amendments that tend to improve the disclosure requirements about fair value measurements and that could reinforce existing principles for disclosures about liquidity risk linked to financial instruments. This amendment was aimed at transposing G20 conclusions at improving transparency and enhanced accounting guidance. They also incorporated advice received from expert advisory panel set up for valuation of products when markets are no longer active. IASB also brought more closely disclosure requirements into line with US GAAP. The amendment to IFRS 7 introduces the three-level hierarchy for Fair Value measurements. They do believe it will improve the comparability between entities.The new amendment also helps clarifying the requirements on disclosure of liquidity risk.The idea is t improve information to users of financial statements on how liquidity risks are addressed and managed by the preparers. The amendment applies for period starting first of January 2009 (but without obligation of comparing to previous year, for the first application). The Board keeps thinking it will help to maintain confidence in the financial markets in crisis period like the one we are all facing. (see: www.iasb.org) FLM “Let’s sing in the depression” and not anymore in the rain. Some authors, especially in the US have started to produce songs on the current market crisis and economic depression. The famous folk song writer, Neil Young, has posted on YOUTUBE a new video-song called “Fork in the road” where he sings while playing with a “big” apple.We must admit it is a funny video. The lyrics are interesting. He says: “There’s a bailout coming, but it’s not for you”…”It’s for all those creeps hiding what they do”… “I’ve got hope, but you can’t eat hope. The’re still there in a fucking war…”(…) “There’is a bailout coming, but it’s not for you”…”It’s for all those creeps watching tickers on TV”….(…) etc… With others song writers, they talk about the subprimes, the money lost, the housing issue, the crisis, the “appetite” of bankers, the famous “golden parachutes” and bonuses, etc… We can list singers like Marcy Shaffer, Michael Adams or even Alain Souchon (in France). It is important not to go faster than the music, as said by French people. However, these songs simply illustrate the current atmosphere we all facing. Even if it’s true that the most desperate songs are the most beautiful ones (according to the popular saying, we should not withdraw into ourselves. It would be the worst remedy in period of economic recession. Isn’t it? F.Masquelier Cela suffira-t-il à retenir les talents ? Nul ne le sait. Les plus réalistes disent qu’après le désastre bancaire, il est difficile de prétendre que ces dirigeants avaient du talent. Ce débat restera ouvert pour longtemps encore. LA CRISE, JUGE DE PAIX DES MÉGAFUSIONS SURPAYÉES ? Nous nous sommes concentrés et focalisés sur les pertes abyssales et dépréciations sur les dérives de crédits que les banques ont enregistrées depuis quelques mois. Mais n’aurait-on pas oublié les dépréciations sur « goodwill » des sociétés non-financières ? Depuis quelques années, certaines sociétés européennes ont investi massivement et à un prix élevé dans des fusions et acquisitions de grande IASB ISSUED A DOCUMENT ON FINANCIAL INSTRUMENTS DISCLOSURES The International Accounting Standard Board (IASB) has issued in 40 http://www.iasb.org

Table des matières de la publication Le Magazine du Trésorier - n°65 - 1er trimestre 2009

Couverture
EDITORIAL
FINANCIAL HIGHLIGHTS
INTERVIEW
FOCUS
FORUM OF ADVERTISERS
TREASURERS’ ASSOCIATIONS
NEWS

Le Magazine du Trésorier - n°65 - 1er trimestre 2009