| A.
R. Kakhsaz Company
an accountancy corporation
Member
American Institute of
Certified Public Accountants
International associates:
Tavana & Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221
|
Americans' wealth plunged 18%
in 2008. U.S. households' net
worth tumbled by $11 trillion.
That's equal to the GDPs of
Germany, Japan and the U.K.
combined. After an era of first and
second homes, rising retirement
funds and ever-fatter portfolios of
stocks and bonds, "the wealth
effect," now cuts the other way,
spurring frugality.
Thriving businesses:
Cobblers
and their suppliers report
markedly higher revenues than a
year ago, as newly frugal
Americans opt to repair their
shoes rather than replace them.
Jim McFarland, a third generation
cobbler says: "I'm so busy right
now it's unbelievable." Resume
writers have seen an upsurge in
business from customers looking
for jobs. Auto mechanics say they
are getting busier keeping old cars
on the road. And employment
lawyers are picking up clients
swept up in the waves of layoffs.
There are only 7,000 shoe-repair
shops left in the U.S., down from
more than 120,000 during the
Great Depression.
SaaS or "software as a
service"
refers to computer application
software that are provided through
the Internet. Some argue that
SaaS will end the era of
on-premises software, boxed
software, and desktop computing
as we know it. Others contend that
it will be dead in a couple of years
and is the latest "fad" phrase for
software delivery.
The world's most translated
document is the Universal
Declaration of Human Rights
which was adopted by the United
Nations in 1948.
China will spend more than
$120 billion over the next three
years to repair the country's
health-care system.
For more of the Generalist,
please visit ARKCPACOM.
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theGeneralist, a
one-page monthly
publication of the accounting firm of
A.R. Kakhsaz Company, is in its 15th
year of providing information, presented
fairly and accurately, from sources we
can depend upon and trust.
Saudi Arabia is fast becoming
industrialized and with its
neighboring countries like Qatar,
Bahrain and the United Arab
Emirates, the Middle East is now
one of the world's fastest-growing
consumers of oil. Saudi Arabia in
2006 used more than two million
barrels a day, up 6.2% from 2005,
at a time when Saudi oil
production actually slumped by
2.3%. In 2006, the entire Middle
East saw its demand jump 3.5%,
while total world demand was
growing just 0.7%.
Parking meter: The first
one
was installed in 1935 in Oklahoma
City, Oklahoma. Parking meter
industry is in decline, but parking
ticket still thrives.
Demand for electronics
has virtually been wiped out.
Like mothers, taxes are often
misunderstood, but seldom
forgotten.
Some 77% of new mothers in
the U.S. breast-feed. That's the
highest rate in at least 20 years.
One out of every five pieces
of
software used in the United States
today is pirated.
Greenhouse gases in the
atmosphere have reached record
highs and show no signs of
leveling off, a U.N. agency said.
Trees in the West are dying
twice as fast as 30 years ago due
to rising temperatures.
We see more in numbers
than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkcpa.com
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