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Date Fairness.com Resource Read it at:
Sep 13, 2012 Greed and Debt: The True Story of Mitt Romney and Bain Capital

QUOTE: the hypocrisy at the heart of Mitt Romney. Everyone knows that he is fantastically rich, having scored great success, the legend goes, as a "turnaround specialist," a shrewd financial operator who revived moribund companies as a high-priced consultant for a storied Wall Street private equity firm. But what most voters don't know is the way Mitt Romney actually made his fortune: by borrowing vast sums of money that other people were forced to pay back.... Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth.

Rolling Stone
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 24, 2011 Why they’re winning on CEO pay

QUOTE: two law school professors, Lucian Bebchuk and Jesse Fried at Harvard, who unlike most finance professors understand that the market for executive compensation is essentially rigged....the firms with high CEO pay turn out not to be the best performers.

Washington Post
Dec 21, 2010 What's Wrong With Accountants? Ernst & Young may soon be sued for its role as auditor of Lehman Brothers. What kind of oversight do accounting firms need?

QUOTE: Many accountants will say that there was no fraud because Lehman’s numbers were accurate on the day they were reported (even if it was understood by both Lehman and its auditor that Lehman would reborrow the same amount the next day). In years past, the S.E.C. would have said that an auditor’s responsibility was to provide a full and fair disclosure, and not simply to certify compliance with generally accepted accounting principles.

New York Times
Apr 01, 2010 F.T.C. Role Seen in Exit at Amazon

QUOTE: This is the second time in a year that the commission has taken aim at the board-level relationships between Google and its rivals, signaling a more aggressive approach by the agency to antitrust matters.

New York Times
Sep 17, 2009 Maligned, or misaligned?: Executive pay

QUOTE: Investors frequently reap nothing but frustration when they seek to restrain the financial aspirations of corporate bosses.

Economist
Jul 08, 2009 Google Operating System Raises Apple Antitrust Issues

QUOTE: Regulators at the Federal Trade Commission have been investigating whether Google and Apple are violating antitrust laws by sharing two board members...

New York Times
Oct 30, 2008 Bonus Backlash Brewing

QUOTE: The very people who brought us the global financial crisis are now getting ready to reward themselves for a job well done. Meanwhile, of course, there's another wrinkle: American taxpayers now have stakes in all these firms, which we got for saving many of them from collapse.

Forbes
Feb 01, 2008 U.S. Sugar Employee Shareholders Claim Lucrative Buyout Offer Was Kept From Them

QUOTE: U.S. Sugar employee shareholders filed a federal suit Wednesday claiming that they were improperly kept in the dark about two $575 million buyout offers promising to deliver a 50 percent premium on their stock.

Law.com
Jan 23, 2008 Who's to Blame? Why capitalists are capitalism's most dangerous enemy.

QUOTE: No one can have watched the subprime mortgage debacle without noticing the absurd contrast between the magnitude of the failure and the lavish rewards heaped on those who presided over it...Everyday Americans will conclude (rightly) that this brand of capitalism is rigged in favor of the privileged few.

Newsweek
Jul 19, 2007 Dow Jones Director Is Said to Face S.E.C. Inquiry

QUOTE: Federal regulators have told a Dow Jones board member that they intend to file a civil complaint against him, in a suspected case of insider trading in company stock stemming from the takeover bid by the News Corporation...

New York Times
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
May 09, 2007 Hong Kong Hanky Panky In Dow Jones

QUOTE: The U.S. securities watchdog filed a lawsuit in federal court in New York on Tuesday against a Hong Kong couple Tuesday for allegedly using insider information to make $8.2 million trading Dow Jones stock before the takeover bid from News Corp. was made public.

Forbes
Jan 01, 2007 Executive Sessions: How To Use Them Regularly And Wisely

QUOTE: The notion of a private conversation for board members may seem contrary to the ethos of transparency expected of nonprofit organizations and to the development of a constructive partnership between the chief executive and the board. However, executive sessions are an effective mechanism for boards of all organizations to deal with certain kinds of issues, provided that they are called for the right reasons and handled appropriately.

BoardSource
Sep 21, 2006 HP CEO Allowed 'Sting' of Reporter: HP CEO Allowed 'Sting' of Reporter

QUOTE: Hewlett-Packard Co. chief executive Mark V. Hurd approved an elaborate "sting" operation on a reporter in February in an attempt to plug leaks to the media, according to an e-mail message sent by HP Chairman Patricia C. Dunn.

Washington Post
Sep 14, 2006 HP board flap raises wider privacy issues: This week's top-level spying spat hits on a legal gray area.

QUOTE: Security firms hired by Hewlett-Packard had apparently used a dubious technique known as "pre-texting" - posing under false pretenses to obtain phone records of board members and news reporters

Christian Science Monitor
Sep 07, 2006 A Board in Need of an Emily Post

QUOTE: The talk yesterday among advisers to corporate America was this: Should what happens in the boardroom stay in the boardroom?...experts argued there could be times and places when there might be some justification for nonfinancial information to be leaked to the news media, including times when the board is struggling with a strong, imperialistic chief executive.

New York Times
Sep 03, 2006 Everybody's Business: On Buyouts, There Ought to Be a Law

QUOTE: Management buyouts are great for management. But by every standard I can see, they are yet another sad sign of how our corporate trustees have lost their moral compass...If the stockholders have hired you and pay your wage to manage their assets, your job is to do that for them — not to buy them out at fire-sale prices and turn around and make billions that rightfully belong to them.

New York Times
Aug 23, 2006 Conflict of Interest Is Raised in N.S.A. Ruling

QUOTE: The federal judge who ruled last week that President Bush’s eavesdropping program was unconstitutional is a trustee and an officer of a group that has given at least $125,000 to the American Civil Liberties Union.

New York Times
Jul 27, 2006 New rule to expose pay packages

QUOTE: U.S. public companies must disclose new details of top executives' pay that will add tens of millions of dollars to the compensation totals some companies report to their shareholders under a rule the Securities and Exchange Commission adopted Wednesday.

USA TODAY
Jun 28, 2006 Univision Jilts Televisa for Rival Bid

QUOTE: ...private equity firms won an auction for Univision Communications, the largest Spanish-language media company in the United States, with a $12.3 billion bid, prompting the rival suitor, Grupo Televisa, to contend it had been deliberately shunned in favor of a lesser bid.

New York Times
Dec 19, 2005 Pushing Fast-Forward on Options: Speeded-Up Vesting Is a Way Around New Accounting Rule, but Some Cry Foul

QUOTE: ... [companies--Ed.] have transformed millions of stock options, many of which would not have been available for executives to use until 2009, into fully vested shares....corporate-governance experts say it is a dubious exercise nonetheless because it undermines the intent of the much-debated new rule. The critics also say that speeding up options hands an extra treat to already-well-fed executives, hurts a company's shareholders and misleads prospective investors.

Washington Post
Aug 10, 2005 Ruling Upholds Disney's Payment in Firing of Ovitz

QUOTE: ...the judge ultimately concluded that [Eisner - ed.] had acted in good faith and the board had not been wasteful in giving Mr. Ovitz the generous payout in 1995... Chancellor Chandler also sent a message to directors everywhere, saying Disney's board "fell significantly short of the best practices of ideal corporate governance."

New York Times
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
Jun 19, 2005 Yes, They Can Say No to a Merger

QUOTE: "The Symantec-Veritas deal...illustrates why mergers are a dysfunctional cog in the capital allocation machine. That is, even though the deals rarely result in significantly more profitable companies, institutional investors almost always vote for them because they are forced into a corner: a "no" vote usually leads to a big drop in the stock price."

New York Times
Jun 08, 2005 Senators Question Conservancy's Practices: End to 'Insider' and 'Side' Deals by Nonprofit Organizations is Urged

QUOTE: ...two-year investigation...questions whether the charity's actions at times may have been "inconsistent" with the policy underlying federal tax laws.

Washington Post
Jun 02, 2005 Jury begins deliberations in ex-Tyco execs' retrial

QUOTE: "Prosecutors charge that Kozlowski, 58, and Swartz, 44, looted more than $500 million from Tyco through unauthorized bonuses, loans and other payments, along with sales of stock at inflated prices..."

USA TODAY
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 26, 2005 Bernard Ebbers: Victim Himself or Mastermind?

QUOTE: pening the long-awaited fraud trial against Bernard J. Ebbers, who presided over one of the most spectacular collapses in the telecommunications industry as the chief executive of WorldCom, a federal prosecutor argued yesterday that Mr. Ebbers told "lie after lie after lie" to cover up the company's mounting losses and stave off his own financial downfall.

New York Times
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 31, 2004 Jackpot Du Jour: It Pays to Quit

QUOTE: Just when you thought you'd seen it all in excessive executive pay, along comes a money grab so creative - and lavish - that it simply must have its turn in the spotlight.

New York Times
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
Sep 22, 2004 Financial Warning Sounded on Fannie Mae

QUOTE: A long running regulatory examination of Fannie Mae has found accounting and other problems at the giant government-chartered mortgage company that raise doubts about "the quality of its management supervision" and the company's "overall safety and soundness"...

Washington Post
Aug 19, 2004 Giving Investors a Say

QUOTE: Under the SEC proposal, if enough shareholders withhold their vote for a board nominee, shareowners could, the following year, present at least one independent candidate of their own....Badly run companies just don't get it -- and won't -- unless shareholders have a way to get a board's attention and exert a little extra pressure to change directors' attitude.

Washington Post
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
May 25, 2004 Does Spitzer have conflict of interest? Spitzer's new crusade seeks to recoup $100M from Dick Grasso, but what about the rest of the board?

QUOTE: Spitzer has long come in for flak for allegedly going hard on Wall Street to advance his political ambitions. But ironically, in the Richard Grasso affair, the question is whether he has gone soft in order to push forward his political ambitions.

CNN (Cable News Network)
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
Aug 14, 2003 CareFirst Is Target of Federal Investigation

QUOTE: ...turning the not-for-profit insurer [CareFirst]into a for-profit company that sought to reward executives with multimillion-dollar salaries and bonuses...

Washington Post
Aug 06, 2003 Shareholders Win in Effort to Alter Pay

QUOTE: Siebel Systems...known for festooning its management and directors with stock options, agreed yesterday to change its executive compensation practices, modify its board and improve its disclosure...

New York Times
Jan 06, 2002 The Rise and Fall of Michael Saylor: At the Height of a Joy Ride, Microstrategy Dives (Part 2)

QUOTE: ...people within MicroStrategy had raised questions about the company's accounting methods... While a deal might span for several years, MicroStrategy would often take credit for a large proportion of the money at the start.

Washington Post