Friday, October 21, 2005
YaSheng Group (YHGG) new auditor
At Malone & Bailey, we’re a medium-sized firm made up of six partners with big national and local firm backgrounds. Our past experience has taught us that big accounting firms can’t and don't serve small clients economically. Their overhead expenses, leverage models and service delivery methodologies make it difficult to serve their small clients profitably.They rank at #10 for most companies audited: 64
They also work very little overtime, are flexable, and let employees wear business casual [except when it's Hawaiian Shirt Day... just kidding].
My assessment: M&B seems to disclose a lot of stuff about their organization. That's good. Of course the bad thing is that the auditor has only now been selected. Or maybe that's a sign of dilligence. Who knows. So I guess, on the whole, this is a slight positive.
Did you sell EDAC? This one certainly got away from me, but at this point I will hold through earnings in early Nov (?)
I'd be very happy to hear anyone's opinions about anything wrong with ETLT (my opinion of other people's opinions now went up a notch and I'm wondering if I should encourage people to read this stuff more). I actually like ETLT better than YaSheng.
So are you going through these companies in alphabetical order (which would explain owning ETLT and EDAC)? I'm trying to avoid that by skipping around a lot, but I am essentially using brute force to find investments.