Filed in archive markets
by leon on April 30, 2008
Several weeks ago, I asked whether the Fed's bailout of Bear Stearns raised questions about moral hazard, where certain parties are led to believe they will not be held accountable.Now, we have...
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Filed in archive risk
by leon on April 30, 2008
With the Rockefellers, the founding family behind ExxonMobil, embarrassing the company by calling for Rex Tillerson to hand over part of his responsibilities as both chairman and chief executive and...
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Call it the Sarbanes-Oxley effect.With Westinghouse Air Brake Technologies Corporation, Flowserve Corporation and AB Volvo coming to grief over the Foreign Corrupt Practices Act - that's three...
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Filed in archive executive pay
by leon on April 29, 2008
Investor activists are making the most of the push for "say on pay" proposals, where they get an annual, non-binding vote on the compensation of top executives, with more than 90 U.S....
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It didn't take him long. Jérôme Kerviel, the trader and computer whiz who evaded Société Générale's electronic risk-control systems has landed a new job - working for an IT...
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Filed in archive strategy
by leon on April 28, 2008
Questions are rising about the ethics of companies pouring money into sponsoring the Beijing Olympics.By abetting the genocide in Darfur, the Chinese Government has turned the event into the...
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Filed in archive SOX
by leon on April 27, 2008
In case you missed it, the Public Company Accounting Oversight Board had its fifth birthday last week on April 25.So to help celebrate, Sarah Johnson at CFO.com reviews its short life life by the...
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Filed in archive Compliance
by leon on April 26, 2008
Is fair disclosure the same as full disclosure?It's an important question in the wake of the subprime mortgage crisis where investors clearly were not given sufficient information. Louis Thompson...
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Filed in archive corporate crime
by leon on April 26, 2008
Organized criminal networks have now established links in the international energy market and have targeted the international financial system by injecting billions of illicit funds to try to corrupt...
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Filed in archive regulators
by leon on April 25, 2008
Bad actor Wesley Snipes has made his name beating up terrorists, vampires and cops but he's no match for the Internal Revenue Service.Today, he has been sent to jail for three years for failing...
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Signs that climate change is becoming an issue for investors.A new report by Ceres, Mutual Funds and Climate Change, has found that mutual funds are starting to more notice of climate change.The...
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Filed in archive markets
by leon on April 25, 2008
Earlier this year, I was looking at what shape the recession would be. Would it be a U, V, W or L-shaped?RGE Monitor chairman and New York University professor of economics Nouriel Roubini writes...
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Filed in archive strategy
by leon on April 24, 2008
After writing off nearly $38 billion of bone-headed investments since the subprime crisis began last year, more than any other lender, and destroying all the profit it had generated since 2004,...
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Filed in archive corporate crime
by leon on April 24, 2008
Just over a week ago I looked at the implications of a High Court ruling in London overturning the British government decision to drop an investigation into alleged bribery and corruption in a major...
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Filed in archive markets
by leon on April 23, 2008
In the past, I have looked at how analysts are not as independent as they claim. There was evidence showing they are susceptible to various gifts and favors.And now the credit crunch and weakening...
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Filed in archive Accounting
by leon on April 23, 2008
Auditors take note: from now on, you will have to tell audit committees all about compromising links BEFORE you do any work for them.As expected, the Public Company Accounting Oversight Board has...
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Filed in archive regulators
by leon on April 22, 2008
The the US Environmental Protection Agency might have lifted a week-old suspension of IBM from seeking new federal IT work but the shock waves and fallout from this case will continue. IBM is not out...
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Filed in archive Ethics
by leon on April 22, 2008
Are millennials more inclined to cheat to get ahead?That seems to be suggestion from Barbara Keats, associate professor of management at the WP Carey School of Business.Keats argues that this...
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Filed in archive corporate crime
by leon on April 21, 2008
The Siemens saga rolls on and if Siemens management thought things would settle down, they need to have a long think. This case is getting messier and messier by the day.First, the company's...
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Filed in archive markets
by leon on April 21, 2008
Signs for the US economy are looking bad with Bloomberg reporting that US companies are now getting more pessimistic.All this coincides with reports that sales of new and existing homes in the US...
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Filed in archive Accounting
by leon on April 20, 2008
The Public Company Accounting Oversight Board is looking at a new independence rule designed to force auditors to come clean on their links with corporations.The PCAOB has announced it will hold an...
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Filed in archive corporate crime
by leon on April 18, 2008
In the past, I have done blog entries here and here looking at how the FBI is increasingly focusing on mortgage fraud.Now we have Federal Bureau of Investigation director Robert Mueller warning that...
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