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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, 2007, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

A Farewell To Chester Spatt
Location: BlogsAAO Weblog (Public)    
Posted by: Jack Ciesielski 7/24/2007 3:32 AM
Last week, the SEC announced that its Chief Economist and Director of the Office of Economic Analysis, Chester Spatt, will be leaving the Commission at the end of July. He plans to return to academia: he'll be teaching at Carnegie-Mellon University in Pittsburgh.

Anyone who thinks that "economics is boring" should take a look at some of the controversial topics Prof. Spatt and his office have had to tackle during his tenure. There was the failed option-expense plan of Cisco; rising controversy over executive pay, including options; the ESOARs product devised by Zions Bank; and the rising importance of fair value modeling in financial reporting. The Commission hasn't yet announced his successor - but it would likely be someone with the same background and strengths, because those issues addressed by the professor and his staff haven't diminished in complexity or sensitivity.
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