Ride 'Em, Cowboy Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Ride 'Em, Cowboy
While politics continued to dominate the news this week, with the White House contenders still battling it out here at home and President Obama battling it out with Vladimir Putin at the U.N. (which, technically, is not a U.S. territory), another development made the front pages of the national and international business press. On Tuesday, Ralph Lauren announced that he is stepping down as CEO of the fashion empire that has personified the American apparel industry for almost 50 years.
What made the announcement so compelling - aside from the fact that the 75-year-old Lauren has been the reigning dean of Seventh Avenue for decades - is that he recruited an outsider to succeed him as CEO (for now, Lauren will remain as executive chairman and chief creative officer). The appointment took Wall Street and the apparel industry by surprise. Lauren's son, David, who is an executive VP at the company, had been widely expected to be named Ralph's successor.
Fuggedaboutit Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
The Jets are 2-0 (yes, the Jets); the Giants and their $60 million dollar man, Eli Manning, are 1-2; the Mets are leading the NL East by 7.5 games (yes, the Mets); and the Yankees are 3 games out of first place behind the Blue Jays, but are four games ahead of the Astros for a shot at the wild card slot in the upcoming Major League Baseball post season. All in all, it's an interesting time to be a New York sports fan.
It's also an interesting week to be a New Yorker, what with the Pope and President both in town and the United Nations General Assembly in session. As luck would have it, I'm traveling on business, visiting our South Florida offices. Yesterday and today are probably two of the best days in recent history not to be in NYC, where I work and live and usually relish being.
Celebrating Innovation Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
The kids are back to school. My two daughters - Lily (first grade) and Kate (pre-K) - returned to their friends and their familiar building, and my youngest son, Max, started nursery in the same building. It's always bittersweet to send them off, since it's an acknowledgment that they are growing up and, inevitably, growing more independent. They are engaging with the world around them and developing relationships with people outside the home for the first time.
I'm sure that's what Ahmed Mohamed's parents were thinking every time their 14-year-old son fixed whatever had broken down - the family car, his father's phone, the electricity, his computer. They must have beamed with pride at their ninth grader, who loves to build things using technology and aims to go to college at M.I.T. Unfortunately for the family, Ahmed's technology passion got him into big trouble on Monday, when one of his teachers at MacArthur High School in Irving, Texas, mistook his home-made science project for a bomb and alerted the authorities. Next thing he knew, Ahmed and his clock were in police custody, until the mess could be straightened out.
Labor Day Means Back to Work Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Labor Day Means Back to Work
Today is 9-11. And before I go any further with this first post-Labor Day column, I must pay tribute to those who perished on the worst day in our nation's history and those first responders who voluntarily put themselves in the way of unimaginable harm to try and save them. On behalf of everyone at Marcum, I would like to express our solidarity with the 9-11 families and our thanks to the police officers, fire fighters and volunteers who gave everything to help our country in its greatest moment of need. You are all American heroes in the truest sense of the word, and America will never forget you.
Labor Day has come and gone, and that means it's back to my weekly connection with all of you. I missed it over the summer, along with the emails and notes I enjoy receiving from many of you. What a great summer this was, especially for those of us who live in the Northeast! The summer of 2015 will most likely go down in the annals as one of the best ever, weather-wise that is. Although June started out pretty wet, it wouldn't take a whole hand to count the number of rainy days we had for the rest of the summer, and if memory serves me correctly, the few we did have had the good grace not to dampen any weekends.
Jeffrey M. Weiner joined Marcum in 1981 and has served as Managing Partner since 1990. Under his leadership, Marcum has expanded from a one-office regional firm of 20 employees to a firm ranked among the largest in the United States.