In Case You Missed It: Percentix Signature Event
2009 Outlook: The Banking Mess, the Crisis of Competence, How we Got Here and Why Washington Can't Fix it.

More than 100 business leaders, dignitaries and guests packed Newport Beach's Pacific Club on March 18 as Percentix, Inc. hosted this very special reception to present insights to banking, finance and business performance. On the evening's agenda: macroeconomic trends, how the economic crisis affects both large and small companies, and the key factors that will lead the U.S. out of this recession.

Percentix CEO Thomas Antunez kicked things off this timely event with a look into the technology and approach that help companies assess and overcome the challenges of a tough economy. Percentix, an Oracle-Hyperion partner and a leader in providing Enterprise Performance Management (EPM) and Business Intelligence solutions, works with companies to develop an enlightened strategy, execute it quickly, monitor it closely, report on it accurately and analyze it insightfully. In the end, Antunez asserted, it's critical that companies have the necessary information and tools to help strengthen their operations, avoid pitfalls and move beyond the crowd of competitors. An eye-opening warm-up for our distinguished guest speakers.

Lending their professional insights were Honorable Finbar Hill, Consul General, Ireland, and JP Gough, Chairman & CEO of Orange County Business Bank.

Hill (named "Irish Man of the Year" in 1993!) enlightened the standing-room only crowd with a market overview and an analysis of market return levels since the early 1800s. He also highlighted the international connection of market activity by giving a snapshot of California companies with a presence in Ireland, such as Microsemi, QLogic, Emulex, WebSense and others.

As the closing keynote speaker who's been heavily involved in nearly every level of banking and finance, Gough (who earned a 2009 Excellence in Entrepreneurship Award by the Orange County Business Journal) answered the myths about the banking industry and provided great inside view of the major factors driving today's economic crisis. He thoroughly described how the current economic crisis was triggered, not by subprime mortgages, lack of disclosure nor a lack of bank regulation, but by a "crisis of competence." Gough asserted this has been fueled by changes in accounting standards, years of growing changes in banking and finance without fully understanding the consequences, and de-control (not deregulation) of banking activities. All of this, combined with a "too big to fail" attitude, according to Gough, is what led to the economic crisis we're facing today.

Guests found the evening enjoyable and enlightening, whether listening to our sensational guest speakers, talking with friends and colleagues, meeting new contacts, or enjoying the magnificent venue. And the night wasn't all about business.

Topping off the night, as an added bonus, guests also enjoyed catching a first-hand look at the same magnificent car from the James Bond movie, Quantum of Solace: the Aston Martin DBS, on display courtesy of Newport Beach Aston Martin.

And for those who couldn't attend the evening's program, there's more to come. Stay tuned for other upcoming Percentix special events and updates, including our very own Percentix blog offering key business industry insights and our highly anticipated healthcare financial management webinar on April 30. More details to follow.

To view photos from throughout the evening, click here.