Affordable Care Act goes beyond benefits issues

EYEY’s Tom Bernard presents on the Affordable Care Act’s tax and financial implications, risk areas and potential penalties at today’s American Payroll Association’s Silicon Valley chapter meeting. Bernard sees the ACA as going beyond a benefits issue to become a business issue that needs to be addressed from multiple perspectives – from HR and employee communications to the board of directors and external auditors.

Learn more:

February 2015 Chapter Meeting


You’re invited to the Black History Month Executive Roundtable hosted by EY

EYAfrican American executive business leaders will join together to share knowledge, discuss diversity, inclusion strategies and provide insight to their career progression at 6 p.m. on Thursday February 19 at The L.A. Hotel Downtown, 333 South Figueroa Street Los Angeles, CA 90071. You are invited to attend the free Black History Month Executive Roundtable event which is hosted by Ernst & Young. Pre-event networking includes appetizers, refreshments and entertainment. This is a free community event and all are welcome.

More information:

Black History Month Executive Roundtable

San Jose Mayor kicks off 29th annual EY Entrepreneur Of The Year™ Awards

Sylvia Flores, Kailesh Karavadra, Mayor Sam Liccardo and Edward Avila take a selfie.

Sylvia Flores, Kailesh Karavadra, Mayor Sam Liccardo and Edward Avila take a selfie.

San Jose Mayor Sam Liccardo teamed with Kailesh Karavadra, Managing Principal of Ernst & Young’s San Jose office, and Ernie Cortes, EY partner, to kick off the top business awards program in the country — the 29th Annual EY Entrepreneur Of The Year™ Awards – Friday at The Fairmont, San Jose.

“The San José/Silicon Valley region is the birthplace for innovations that drive the global economy. The EY Entrepreneur Of The Year™ award celebrates the vision and passion needed for the long-term success of our region,” says Mayor Liccardo. “I thank Ernst & Young LLP for its decades-long support of entrepreneurs.”

Each year, Ernst & Young showcases successful entrepreneurs from more than 145 cities in 60 countries in their annual EOY Program. Past winners include: Reid Hoffman and Jeff Weiner (LinkedIn Corporation), Sergey Brin and Larry Page (Google, Inc), Nick Woodman (GoPro), Lisa Im (Performant Financial), Hamid Moghadam (Prologis), and David Hung, MD (Medivation). This year, past award recipients, future nominees, program sponsors, and other business leaders joined Mayor Liccardo and EY professionals for the 2015 kickoff.

To apply or nominate someone today, visit:

Read the full announcement:

Mayor Liccardo and EY Kick off the 29th Annual EY Entrepreneur Of The Year™ Program

Entrepreneur of the Year Award winner and Curacao founder tells LA Times ‘How I Made It’

EYEntrepreneur of the Year Award winner and Curacao founder tells LA Times ‘How I Made It’ Body: Jerry Azarkman earned an EY Entrepreneur of the Year Award for his successful department store chain Curacao which opened in 1983. Through word of mouth, extended customer credit and customer loyalty, Curacao now boasts more than 2 million customers paying through the chain’s credit card. He tells the Los Angeles Times in the latest “How I Made It” about his success and how he decided to concentrate on what he saw as a neglected and underserved market — Latinos. He shares his thoughts on the power of credit, his leadership style and greatest pet peeve: “People who only know how to say ‘I’ and ‘me.’ If it’s never about ‘us’ or ‘ours,’ then there is something wrong.”

Read the full article:

How I Made It: Jerry Azarkman

EY weighs in on international travel and tourism comeback

EYAlthough the last recession set back the hotel and hospitality market, Michael Fishbin, leader of Ernst & Young’s hospitality and leisure practice says 2015 will be different. “We expect the hospitality industry to experience significant growth, development and brand expansion in the coming year. Despite some significant head winds — such as geopolitical instability, new health concerns and inconsistent economic growth — the global industry is thriving and optimism prevails,” Fishbin says.

Read the full article:

Tourism and travel growth to spur more investment in hotels

Trip to Argentina gets EY tax manager out of his comfort zone in a good way

EYA trip to Argentina got Ryan Espinoza, a tax manager at Ernst & Young, out of his comfort zone while helping build relationships with his co-workers and friends. He comments about the impact of the extended business trip on his career and personal life in the Los Angeles Business Journal.

Read the full article:

Travel Hits Home

Total VC funding up 44 percent as number of deals falls

EYAlthough venture capital funding increased in the 4th quarter, fewer deals were made, reports Jason Brooks on KCBS radio’s “Money Watch.”

U.S. firms raised 13.8 billion dollars, a 44 percent increase over the same period a year earlier while the number of deals fell 20 percent.

“As you see companies move through the pipeline and companies raise capital at later stages, we are seeing that more and more,” says Jeff Grabow, U.S. venture capital leader for Ernst &Young.

Listen to the full broadcast:

KCBS interview – EY’s Jeff Grabow – 2014 Year-End VC Report

Spike in 2014 VC funding highlights healthy market for innovation

EYVenture capital fundraising soared in 2014, spiking 62 percent to nearly $33 billion across 332 funds and highlighting a strong market for early-stage companies, reports Andrea Change, technology reporter for Los Angeles Times.

“Access to capital is available; we’re in a good market for innovation across a lot of different sectors. It’s a healthy fundraising environment, so people are saying, ‘Take advantage of that, make sure you have capital because it’s not always going to be there,’ ” says Jeff Grabow, U.S. venture capital leader for Ernst & Young.

Grabow also notes “that the funding landscape has ‘changed dramatically’ in recent years.” With the help of funding platforms like Kickstarter and Indiegogo, the cost of starting a company is lower than in the past.

Read the full article:

Venture capital funding soars to nearly $33 billion in 2014 (Los Angeles Times)

Other year-end VC articles:

2014 venture capital at $1.3B, most since before recession (The Seattle Times)

San Francisco pulls away as leader in venture money (San Jose Mercury News)

Venture investment in Oregon reaches 5-year high (Portland Business Journal)

KCBS interviews Jeff Grabow, partner at EY on global IPO success

EYGlobal IPO activity continues to strengthen with a 35 percent increase in volume and a 50 percent increase in value compared to 2013.  Although 2014 was the best year for IPOs since 2010 in terms of proceeds and volume, volatility on global stock markets in October meant Q4’14 failed to meet expectations, making 2014 a good, rather than record-breaking year.

“We expect a strong start to 2015 for U.S. IPOs. Driven by a combination of low market volatility investor confidence and robust pipeline of more than 100 company getting ready to list,” said Jeff Grabow, partner at Ernst & Young, a global accounting and consulting firm.

Listen to the full KCBS radio interview:

Jason Brooks talks with EY’s Jeff Grabow on IPO


CBS San Francisco’s Money Watch interviews EY’s Doug Regnier on Global IPO Trends

EYJason Brooks, KCBS Money Watch Host, interviews Doug Regnier, EY’s West Region IPO Leader, on Global IPO Trends. IPO activity continues to climb with 851 IPOs raising $186.6 billion in the first nine months of the year, a 49% increase in volume and 94% increase in proceeds compared to the same period in 2013. After a quiet August, in which some U.S.-bound companies waited in anticipation of the Alibaba listing, the third quarter posted 260 IPOs, raising $67.1 billion, up 29% and 162% respectively on Q3’13.

Listen to the full segment: