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Date Fairness.com Resource Read it at: Jul 14, 2012 35 Questions Mitt Romney Must Answer About Bain Capital Before The Issue Can Go Away
QUOTE: In times of crisis, a strong candidate will come up with answers that satisfy the basic questions surround the controversy and will make people want to move on to another subject. Romney, however, could not seem to come up with basic messages that resolved the controversies. Many of his answers seemed evasive or overly legalistic. The biggest problem for Romney is that all of his interviews have only increased the questions that political observers, voters and the media have regarding he subject of Bain Capital.
Forbes Jul 04, 2012 In Silicon Valley, Chieftains Rule With Few Checks and Balances
QUOTE: Since Google went public in 2004 in a way that maintained control for its founders, the leaders of Silicon Valley have been chary about shareholder voting rights. In the latest wave of Internet initial public offerings, shareholder voting rights have become even more diminished.
New York Times Nov 25, 2011 Banks’ Ties to Olympus Scrutinized
QUOTE: A number of European banks are under investigation by Japanese authorities to determine whether they helped the management of Olympus hide irregular payments....many questions remain about how Olympus managed to obscure the losses for so long and how much outside help the company may have received.
New York Times Jun 29, 2011 California targets Kindle lab in Amazon tax spat
QUOTE: Amazon.com said today that it's reluctantly severing ties with affiliates in California, a move that it hopes will let it continue shipping products to state residents without collecting sales taxes.... The measure says that any retailer who "through a subsidiary" has any "place of business" in California must collect sales taxes.
CNET Apr 12, 2010 Lehman Channeled Risks Through ‘Alter Ego’ Firm
QUOTE: It was like a hidden passage on Wall Street, a secret channel that enabled billions of dollars to flow through Lehman Brothers. In the years before its collapse, Lehman used a small company — its “alter ego,” in the words of a former Lehman trader — to shift investments off its books.
New York Times Sep 07, 2009 U.S. expands H-1B fraud case against IT services firm
QUOTE: The U.S. government late last month filed a new, expanded 18-count indictment that now seeks $4.9 million from a New Jersey IT services firm it has accused of fraudulently using H-1B visas.
Computerworld Jun 23, 2009 Choosing the right side after an acquisition isn't always obvious
QUOTE: A merger/acquisition can sometimes make you feel like you're trapped in an episode of "Turf Wars Gone Wild"
InfoWorld Mar 10, 2009 Drug Investors Lose Patience
QUOTE: Now, with cash scarce, credit tight and big drug companies like Merck intent on branching into biotechnology themselves, struggling start-ups may no longer get second and third chances to succeed.
New York Times Jan 15, 2008 Ex-Officials Benefit From Corporate Cleanup
QUOTE: The lucrative arrangements [between federal prosecutors and former government officials] are known as "monitorships," unusual contracts in which an outsider comes into a troubled company with vast power to expose corruption and change business practices...But legal experts and lawmakers are expressing growing concern about inconsistency and secrecy surrounding the appointments.
Washington Post Jun 26, 2007 Hospital Board Refuses To Resign: Members Contend Johnson's Demand Is Undemocratic
QUOTE: Johnson contended the move would provide more public accountability for a board whose mismanagement he says has compounded the system's problems… [But] critics believe his move against the board is a thinly veiled attempt to gain greater control over its membership and the fate of the system.
Washington Post Oct 20, 2005 Defining Small
QUOTE: ...because of a loophole in federal regulations, a company can be counted as one if it was once small even if it is not now, raising questions about the statistics the government has been citing to defend itself from charges that it has favored big companies in the massive Hurricane Katrina cleanup.
Washington Post Aug 09, 2005 Judge Rules for Walt Disney Directors in Ovitz Case
QUOTE: The lawsuit has highlighted just how much responsibility shareholders want corporate directors to assume. Mr. Ovitz's hiring, the shareholders asserted, should never have been approved, and his firing should have been initiated earlier. By exonerating the directors, the decision suggests some limits to the liability, and vulnerability, of corporate boards for bad management decisions.
New York Times Jul 17, 2005 Robin Hoods or Legal Hoods?
QUOTE: Though Mr. Lerach and Mr. Weiss are not named in the indictment either, both are clearly embroiled in a wide-ranging investigation, the outcome of which is likely to influence how all plaintiffs' lawyers practice, as well as the potential civil penalties for corporate wrongdoing. As a result, the inquiry has reignited heated debates about the tort system, debates that have come to a head in recent years.
New York Times Mar 09, 2005 Harassment Claims Roil Habitat for Humanity: As Founder's Supporters Rally, New Allegations Emerge
QUOTE: The question posed by Fuller's defenders is how an organization that describes itself as a Christian ministry could dishonor a man who gave away a personal fortune and built a movement to help low-income families buy decent homes. The question posed by his accusers is how an organization devoted to the dignity of all people could, for many years, hush up allegations that its leader was demeaning women on his staff.
Washington Post Jan 20, 2005 "Directors Run Risk of Paying Penalties Out of Their Pockets"
QUOTE: Although there have been isolated incidents in the past of directors and executives being held personally responsible financially or volunteering to forgo payments, in recent weeks the emphasis on paybacks has picked up momentum.
Washington Post Oct 21, 2004 Accountability on Trial: Disney Shareholder Suit Could Redefine Boards' Obligations
QUOTE: ...pits shareholders of the Walt Disney Co. against nearly two dozen current and former Disney directors over a severance package valued at roughly $140 million paid in 1997 to Hollywood super-agent Michael Ovitz....For director liability, this is the most significant case in years,"...
Washington Post Aug 31, 2004 Lessons from Google's IPO
QUOTE: After more than more than three months of filings with the Securities and Exchange Commission, public miscues, pricing changes and enough legalese to make a lawyer dizzy, Google's initial public offering is one for the record books.
Knowledge@wharton Aug 16, 2004 New mantra for reformers: Don't sue.
In response to public outrage over Enron and other instances of corporate fraud, Congress has passed new legislation meant to increase public access to corporate information. Citizens exercising these access rights can help spur ethical behavior inside corporate cultures, observers say, without necessarily mounting a costly legal battle.
Christian Science Monitor Jun 19, 2004 SEC Approves New Audit Requirement
QUOTE: The Securities and Exchange Commission yesterday approved a new standard requiring outside accountants to test internal safeguards for detecting fraud at the companies they audit.
Washington Post Apr 19, 2004 Industrial Bank Plans to Reduce Stockholder Roster
QUOTE: ...all the stockholders who own 100 or fewer shares are to be bought out for cash...Those investors won't have any choice in the matter if the transaction is approved by a majority vote of IBW shareholders.
Washington Post Mar 08, 2004 Board Stiffs
QUOTE: So why did the directors — who were being paid to look after shareholders' interests — turn out to be such pushovers?
New Yorker Jan 09, 2004 NYSE Appeals to Regulators to Move Against Grasso
QUOTE: The New York Stock Exchange's board of directors formally asked New York Attorney General Eliot L. Spitzer and the Securities and Exchange Commission to take action against deposed exchange chairman Dick Grasso and former board members over Grasso's $187.5 million compensation package.
Washington Post Nov 07, 2003 Policy Change At PeopleSoft Angers Suitor Oracle: PeopleSoft is expanding a plan that would refund license fees if PeopleSoft gets bought out.
QUOTE: PeopleSoft unveiled the plan not long after Oracle made its hostile takeover bid... Now clients could receive refunds of between two and five times license fees if PeopleSoft is acquired within two years
InformationWeek Oct 25, 2003 Congress Is Close to Eliminating a Privacy Law
QUOTE: ..."the door will be open to a lot of abuses when banks can share their information with thousands of corporate affiliates, even after consumers say no."
New York Times Jan 27, 2003 Few women hold top executive jobs, even when CEOs are female
QUOTE: ...at the extreme top of Fortune 500 companies, where salaries and bonuses swirl above $500,000 a year and from where the next wave of CEOs is surging, women remain scarce...[this] might be explained in part by lingering gender bias in Corporate America.
USA TODAY Dec 18, 2002 Deciding on Executive Pay: Lack of Independence Is Seen
QUOTE: An examination of almost 2,000 corporations finds that at hundreds of them, members of the compensation committee work for or do business with the company or its chief executive.
New York Times Nov 09, 2002 SEC's Head Accountant Resigns: Role in Audit-Board Choice Spurred Herdman's Move
QUOTE: The chief accountant of the Securities and Exchange Commission resigned...because of his role in the selection of former FBI and CIA director William H. Webster as head of the new national board to police the accounting industry.
Washington Post Aug 29, 2002 Fast and Loose At WorldCom: Lack of Controls, Pressure to Grow Set Stage for Financial Deceptions
QUOTE: [WorldCom Inc.] was plagued by loose business practices, inadequate financial disclosure, and widespread internal chicanery and corruption...a grow-at-any-cost culture that made it possible for employees and managers to game the system internally and to deceive investors about the health of the business.
Washington Post Aug 21, 2002 Patriotism Raining On Tax Paradise
QUOTE: Reincorporation -- also known as corporate inversion or corporate expatriation -- has been around for decades, but the accounting maneuver has become increasingly popular as economic conditions lower the costs and raise the rewards.
Washington Post Aug 17, 2002 Audit Committees Using New Power
QUOTE: ...a company's audit committee, not its executives, must hire and fire auditors, a requirement that has affected the balance of power between management and boards...
Washington Post Jul 16, 2002 Adelphia Indictments Readied
QUOTE: Prosecutors are preparing to indict John J. Rigas, founder of Adelphia Communications Corp., and three of his children for allegedly taking part in accounting gimmicks...
Washington Post Jul 10, 2002 House Panel Targets U.S. Firms Using Foreign Tax Havens
QUOTE: The House Appropriations Committee...voted to bar the federal government from awarding contracts to U.S. companies that use foreign tax havens.
Washington Post Jul 03, 2002 Memo Cited Bush's Late SEC Filings: White House Dismisses Suggestions of Wrongdoing in Bush's Time in Oil Business
QUOTE: ...President Bush repeatedly failed to file timely reports of his business interests and transactions before his election as Texas governor.
Washington Post Jul 02, 2002 Everyone is Outraged
QUOTE: But Mr. Bush and Mr. Pitt say they are outraged about WorldCom....As the Web site dailyenron.com put it, last week "the foxes assured Americans that they are hot on the trail of those missing chickens."
New York Times Jun 26, 2002 WorldCom Says It Hid Expenses, Inflating Cash Flow $3.8 Billion
QUOTE: [Worldcom] ...overstated its cash flow by more than $3.8 billion during the last five quarters in what appears to be one of the largest cases of false corporate bookkeeping yet.
New York Times Jun 19, 2002 What Happens to the Inner Circle of the Ousted CEO?
QUOTE: ...board members and/or the new CEO face a huge dilemma: How should they deal with the inner circle of an ousted CEO – those top executives who presumably supported, or at the very least were aware of, the actions and initiatives of their former boss?
Knowledge@wharton Jun 13, 2002 Bermuda Move May Sound Good, but Investors Could Get Burned
QUOTE: Some shareholders say that when companies acquire a Bermuda address to reduce taxes, they also reduce the rights of shareholders...
New York Times May 19, 2002 Other People's Money
QUOTE: The Securities and Exchange Commission has proposed sensible rules to tighten the disclosure of chief executives' sweetheart deals, and shareholders are becoming more aggressive in opposing outrageous pay.
New York Times May 06, 2002 The Corporate Cleanup Goes Global
QUOTE: ...rather than a convergence to the U.S. model...multiple modes of corporate governance [are]developing around the world.
BusinessWeek May 02, 2002 How to Fix Corporate Governance
QUOTE: Excessive pay, corrupt analysts, auditing games: It all adds up to capitalism's biggest crisis since the trustbuster era
BusinessWeek May 01, 2002 Suit Against Hewlett Deal Is Dismissed
QUOTE: ...clear questions about the integrity of the internal ethical wall that purportedly separates Deutsche Bank's asset management division from its commercial division."
New York Times Apr 26, 2002 Seeking Support or Offering Bribes?: HP Case Tests Rules On Courting Shareholders
QUOTE: ...that banking executives concerned about maintaining a relationship with HP were improperly influencing investment-side personnel who were voting on behalf of clients.
Washington Post Mar 13, 2002 Accounting Industry Faces Legislative, Legal Challenges: 'Limited Liability' Structure Tested
QUOTE: Partners [in an LLP] are not supposed to have to pay for the wrongdoings of their colleagues. They are liable only for the capital contribution they make to the firm, as long as they did not know about or participate in illegal or unprofessional activities themselves.
Washington Post Nov 04, 2001 Who Best Protects Shareholders? The Shareholders
QUOTE: ...the stock prices of companies that place the most restrictions on their shareholders' rights have lagged behind those that had the fewest such limits.
New York Times Oct 21, 2001 Time to Look At Stock Options' Real Cost
QUOTE: After a bruising battle in 1993, [International Accounting Standards Board] caved in to corporate lobbyists' demands that stock options, undeniably an employee cost, should not be deducted from revenue as other costs are.
New York Times Oct 15, 2001 At Global Crossing, It Pays to Be Inside
QUOTE: Global Crossing Ltd. (news/quote), which aimed to build a worldwide fiber optic communications network, swallowed up the old Rochester Telephone, and many investors and workers in the region owned shares in that reliable, low-risk utility that were converted into shares in a high-risk start-up. But some of Global Crossing's executives and directors have done quite well, cashing out to varying degrees the last couple of years.
New York Times Jun 25, 2001 The Great CEO Pay Heist
QUOTE: ...in recent years, pay [for CEOs] has ballooned into nine-figure totals, almost defying comprehension.
Fortune Jan 31, 2001 Audits Fuel Debate On Curbing California Power Shortage
QUOTE: ...audit shows that the parent company was able to take advantage of the billions it received from the utility and apply it to its other businesses as well as distribute it to stockholders.
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