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Conrad Black's landmark case
in Sox First, on May 28, 2009
...y renege on that, they have withheld honest services and therefore committed a crime. As the piece says: "If the Supreme Court accepts the concept, it will give prosecutors a powerful weapon in ... ...
Conrad Black's appeal against his fraud conviction will have massive implications on the system, regardless of what the decision is. Black, as we know, was convicted two year ago of a a $6.1-m...
Newspaper and auto industry self-destruction.
in Sox First, on April 1, 2009
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With Conrad Black's Sun-Times Media filing for bankruptcy , the Paper Cuts blog estimating that the newspaper closures have resulted in the loss of nearly 8000 jobs and with GM and Chrysler...
Conrad Black speaks - again
in Sox First, on February 28, 2009
... the slammer. In an interview with the National Post's Theresa Tedesco , done via email, Black says he is as busy as ever, reading until 1.30am, reviewing, tutoring fellow inmates and responding ... ...
One year after his incarceration, convicted fraudster Conrad Black seems to be adjusting to life in the slammer. In an interview with the National Post's Theresa Tedesco , done via email,...
Lady Black defends "kulak" bankers
in Sox First, on February 19, 2009
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Barbara Amiel, the big-spending wife of jailed fraudster Conrad Black, has come out with a most extraordinary defense of the banking community. While most of us accept that bankers have create...
Blagojevich and Spitzer: a moral tale about power
in Sox First, on January 8, 2009
...out with very strongly with the two governors. "Power has two primary effects," Galinsky says. "It really reveals the truth about who people are, and it alters basic psychological proc... ...ies not only to politics but to business as well. That's why high flyers, from Jeff Skilling to Conrad Black who had all the money and success in the world, couldn't hold themselves back. Whic...
Black blogs from cell
in Sox First, on October 24, 2008
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Jailed for more than six years for Fraud, Conrad Black is "working", even if it's for gratis, for Tina Brown's web venture The Daily Beast . The disgraced businessman has taken...
How long will the recession last?
in Sox First, on October 23, 2008
...t won't be short and sharp as occurred in 1991 and 2001. Meanwhile, economist Nouriel Roubini says two years. So what do we make of the different predictions? However long it lasts, it won'...
Shooting up with AIG
in Sox First, on October 20, 2008
It's bad enough that AIG presented a completely false picture of its finances in its 2007 annual report , including a sign off from the world's biggest audit firm PricewaterhouseCoopers that everything was above board. So what then do we make of this News of the World report detailin...
CFO turnover continues
in Sox First, on October 13, 2008
The churn rate for chief financial officers is continuing at the same level as last year, reports CFO.com . That is somewhat surprising but it will be interesting to see how it pans out in the economic slowdown. One suspects that with more companies taking a chainsaw to their operations, C...
Ford and GM: can they survive?
in Sox First, on October 10, 2008
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That General Motors and Ford are in serious trouble is no big surprise. Standard & Poor's says it might cut their rating deeper into junk and specialists have told Bloomberg their liquidit...
Iceland close to collapse
in Sox First, on October 7, 2008
If Americans think they're doing it hard in this crisis, spare a thought for the folk in Iceland. The "Land of Fire and Ice" is close to bankruptcy because of the taste for debt, and the fact that its banks are so powerful, with liabilities worth almost 10 times the country's g...
The end of capitalism as we know it?
in Sox First, on September 27, 2008
The scene of banks going under and policy makers risking moral hazard and bailing out the guilty is changing US market capitalism as we know it. The great economist Joseph Schumpeter talked about "creative destruction". This was the great engine of capitalism where the old ways are ...
Boxing Cox
in Sox First, on September 23, 2008
The market is in meltdown mode so the heat is on Securities and Exchange Commission chairman Christopher Cox. A few days, I did a blog entry on John McCain talking tough and threatening to sack him. I just dismissed that as political opportunism. Still, it's hard to go past this fascinat...
Credit crisis: views from the inside
in Sox First, on September 18, 2008
...ho was also a friend. I am just terribly sorry about this whole thing." Blogger Aldon Hynes says Lehman's fate was a long time coming, and not entirely unexpected. "When I worked at L...
Is AIG next?
in Sox First, on September 16, 2008
AIG could be the next to go. We'll know tomorrow. If it doesn't secure fresh funding by Wednesday September 17, it could be forced to file for bankruptcy, reports The Wall Street Journal . AIG is such a big player. Viewed through certain ways, it is the biggest financial services compa...
We Love Ginny
in Pretty Things, on September 7, 2008
...silver. I do believe that I will purchase this and pair it with one of my items from the Lauren Conrad Collection. Take some time to check out more pieces from ShopBop and to look at their coverag...
The future of newspapers
in Sox First, on September 5, 2008
All over the world, the story is the same. Hit by declining circulation and advertising that is at best sluggish, newspapers are cutting jobs. It causes me a lot of pain to see it happening at my old employer, Fairfax . Seeing the way the industry was going, I decided it was emotionally, creati...
Gustav means business
in Sox First, on September 1, 2008
The petroleum industry might be bracing itself for the impact of Hurricane gustav but its economic impact is going to be wider than that. The Washington Post reports that Louisiana's trademark tourism industry, along with sugar, shipping and even the manufacture of Tabasco sauce wil...
Closing the GAAP
in Sox First, on August 28, 2008
Finally, the US has moved another step closer to joining the rest of the world with the Securities and Exchange Commission releasing a road map that would have US companies using International Financial Reporting Standards ( ifrs ) six years from now. Indeed, CFO.com's Sarah Johnson ...
Conrad Black's life on the inside
in Sox First, on August 25, 2008
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So Conrad Black 's latest appeal against his six and a half year sentence has been rejected . No surprises there. But it's not surprising either to read that the Lord Black of Crosshar...
Pocket Cinema V10 von Aiptek - Kino aus der Hosentasche
in Digitaltivi, on August 20, 2008
... zu schauen. Nein, es ist nicht der erste April. Der mobile Mini-Beamer im Taschenformat, der bei Conrad erhältlich ist, projiziert Bilder, Filme und Präsentationen auf beliebige Flächen. Die IFA-Neuh...
Barbara Amiel and Conrad Black: delusion city
in Sox First, on August 9, 2008
...k from his prison cell. Writing to columnist Ruth dudley Edwards and published here , Black says jail is "better than I expected and is more of a sociological laboratory than I had forese... ...
As a piece of bizarre, self-serving crap, the piece from Conrad Black's grieving wide Barbara Amiel in The Times is hard to beat. Like her husband, she shows absolutely no remorse about the...
Teens Choose Their Favorite Celebrities, Movies & TV Shows
in The Celebrities Weblog, on August 4, 2008
... Reality/Variety Star: David Cook, "American Idol"
TV Female Reality/Variety Star: Lauren Conrad, "The Hills"
TV Villain: Ed Westwick, "Gossip Girl"
Music Single: Jonas B...
Conrad Black appeals again
in Sox First, on July 21, 2008
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The endless case of Conrad Black has moved into its latest phase, After the court rejected a plea to toss his conviction on fraud and lying about looting $6.1 million from his media empire, he i...
PokerStars.TV is Born
in Internet Poker, on July 8, 2008
...r favourite poker clips at any time - and that's what PokerStars.tv allows you to do" said Conrad Brunner, Head of TV & Digital Production at PokerStars. "There are some outstanding ...
Conrad Black loses appeal
in Sox First, on June 26, 2008
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Conrad Black has lost his appeal against convictions for fraud and obstructing the course of justice. That means he will now almost certainly serve the six-and-a-half prison sentence handed out ...
Siemens case expands
in Sox First, on June 20, 2008
The Siemens bribery scandal gets wider and wider. Now we have reports that the bribe money was distributed through a German company owned by three banks. Needless to say, the banks have all since professed ignorance. For the record, a verdict in the case is expected at the end of next mo...
Conflicted consumers and the greenwashers
in Sox First, on June 17, 2008
...y products that are environmentally or socially preferable at the same price and quality As Winston says, this might have significant implications for the pricing of goods. If you can provide a green ...
Flying industry solutions
in Sox First, on June 16, 2008
...dall, the former president and chairman of American Airlines, regarded by some as an industry icon, says mergers are not the solution because they won't lower fuel prices and are likely to force u...
Earthquake funds and sneakers
in Sox First, on June 14, 2008
Since when are US brand runners necessary for earthquake relief? That's the question the world should be asking following the report that staff at the All-China Federation of Industry and Commerce (ACFIC) in Henan and a branch of Industrial and Commercial Bank of China in Mianyang use...
FBI steps up on mortgage fraud
in Sox First, on June 13, 2008
Last month, I did a blog entry on how mortgage fraud cases were up and stretching the resources of the FBI. Now we have further evidence of that with Bloomberg reporting that the FBI has pulled agents off financial crimes cases so that they can focus on subprime. Clearly, this problem is ge...
Cracking down on cartels
in Sox First, on June 12, 2008
Something that will send shockwaves through the British business world with the first jail sentence for cartel conduct in the UK . Three businessmen, including two from the British unit of Continental AG, Europe's second-largest tiremaker, were sentenced for up to three years in jail for fi...
Banking squeeze
in Sox First, on June 10, 2008
... jumped as they sought to avoid being perceived as
having a shortage of liquidity," the report says. True, what has happened to Lehman is pretty much the result of greed and stupidity where, as ...
Conrad Black's last-ditch appeal
in Sox First, on June 9, 2008
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This is the last roll of the dice for Conrad black . He has begun his appeal against the six and half year sentence for fraud and obstruction of justice with his lawyers telling the appeal jud...
The problem with deferred prosecutions
in Sox First, on June 9, 2008
...h David Uhlmann, former head of the Environmental Crimes Section at the Justice Department. Uhlmann says it's simply wrong and bad application of the law. But no doubt, these sweetheart deals wil...
US recession reality check
in Sox First, on June 7, 2008
Friday's bleak US payroll data showing another drop in jobs and rising unemployment, combined with this long-term chart of US gross firing and hiring , is not just another sign of the unfolding US recession. It's also a warning for the global economy. Indeed, the Chicago Fed's N...
The most ethical companies
in Sox First, on June 6, 2008
Nike, BMW, Alcoa , Rio Tinto, IKEA, Cisco Systems, Sun Microsystems, Xerox, American Express and Honda. These are some of the world's most ethical companies, as listed by Ethisphere . The list is not perfect. But then, no business is either. Ethisphere sums it up thus: "Every la...
Deutsche Telekom and Stasi
in Sox First, on June 6, 2008
Less than two weeks ago, we looked at how Europe's biggest phone company, Deutsche Telekom, was spying on executives and journalists to track down the source of leaks. If that sent shock-waves through Germany because of its history, it was well-justified. Now we have reports that Deutsc...
BAE: The net closes
in Sox First, on June 5, 2008
The intrigue surrounding the BAE-Saudi bribery scandal continues with the Financial Times reporting that a third man, BAE's business development director Alan Garwood has been issued with a subpoena by US authorities. BAE chief executive Mike Turner and Sir Nigel Rudd, a BAE non-execu...
Fox News and bed bugs
in Sox First, on June 5, 2008
Bizarre story about a Fox News employee Jane Clark launching legal action claiming she got bedbug bites at work and that she is now suffering from post- traumatic stress disorder. Just how bad is it really? According to the Harvard School of Public Health , bedbugs might be annoying but...
The audit cartel
in Sox First, on June 4, 2008
...many nation states and which, like another profession, will do almost anything for a quick buck. He says the problem lies with a cabal that publishes little meaningful information about what goes on i...
Executive hurdles
in Sox First, on June 3, 2008
So you reckon it takes an executive only a few months to get up to scratch with a new job? Think again. According to new research, published here , almost one in three top executive hired from another company are still not delivering after two years. And one in five who within the organization...
Why flying will get worse
in Sox First, on June 2, 2008
... the Harvard Business Review blog on the way airlines continually wage war on their customers. He says it usually happens when companies get in a panic when companies get in a panic about profits. A...
Professor Conrad Black
in Sox First, on May 30, 2008
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Totally irrepressible! Conrad Black has settled down into the slammer quite well. He is now taking american history classes in prison. His students include prison staff and, from all reports,...
The oil squeeze
in Sox First, on May 29, 2008
...reports CNN . But what the future holds remains unclear. The Chicago Tribune's Steve Chapman says the laws of supply and demand will eventually bring oil prices down with demand now in full ret...
Tomorrow's hot job: compliance officers
in Sox First, on May 28, 2008
Compliance officers are cashing in on the ever-growing pile of laws and regulations confronting companies around the world. Some are now earning well into the seven figures, reports Michael Grebb at Bank Technology News . The work is enormous. Just the babks alone have to contend with Bank Sec...
Siemens probe to widen?
in Sox First, on May 26, 2008
If Siemens executives thought the fallout from the bribery scandal was about to go away, they should think again. It's likely to get worse with the trial starting today of former executive Reinhard Siekaczek. Because he is now a key witness, The Wall Street Journal suggests that his trial...
Email liabilities
in Sox First, on May 25, 2008
How seriously should companies treat their outbound emails? And are they handling the issue appropriately? For some, these might be significant questions in light of study, reported in the National Law Journal , showing that more than one in three large US companies had their emails subpoenaed...
Failed audit in Iraq
in Sox First, on May 24, 2008
...illion in seized or frozen Iraqi assets. Some of the more outrageous items include a document which says "Public Voucher for Purchases and Services Other Than Personal." The document indicat...
Zeroing in on BAE
in Sox First, on May 22, 2008
...ner is likely to be dragged before a grand jury . As Evening Standard columnist Simon English says, these DOJ operatives are an extraordinary breed. "These guys do a few years crushing what...
Rich and poor: the CEO pay disconnect
in Sox First, on May 19, 2008
...ported here , Clinton has received $164,000 from 54 of the Fortune 1000 CEOs and Obama, who always says he takes no money from political action committees or federal lobbyists, has picked up $130,000...
News from the FCPA front
in Sox First, on May 16, 2008
Interesting developments in relation to the activity surrounding the Foreign Corrupt Practices Act (FCPA) . Now we have reports that the US Justice Department has started targeting inidviduals, not just companies, for bribery and corruption. This is quite strategic. It not only puts the heat...
Blackwater's "get out of jail" card
in Sox First, on May 10, 2008
After its involvement in the shooting of 17 Iraqi citizens last year, a criminal investigation by the FBI, internal investigations by the State Department and the Pentagon, and high-profile Congressional hearings, the people at Blackwater walk free with reports that it won't face criminal ...
AIG shame file
in Sox First, on May 10, 2008
... It's come back to bite them.'' That might explain why The Street.com's Jim Cramer says that the latest debacle is of Enron proportions. Cramer also wants the Securities and Exchange ...
The new hot job: Chief Risk Officer
in Sox First, on May 9, 2008
With the world's banks bleeding from their over-exposure to bone-headed investments and bad loans, the latest hot job is the Chief Risk Officer. Bank Of America , Citigroup, Merrill Lynch, J.P. Morgan Chase and Morgan Stanley have all announced that they have a Chief Risk Officer, not be...
Greenwashing complants more than quadruple
in Sox First, on May 7, 2008
With more pressure on companies over environmental issues, it's no surprise that complaints about greenwashing are up. A report released by Britain's Advertising Standards Authority found that complaints about greenwashing rose nearly 480 per cent in one year. Worst offenders includ...
UBS woes
in Sox First, on May 7, 2008
It's been a bad bad week for Swiss bank UBS. First it announces it's on the way to cutting 5500 jobs after losing $11 billion in the first quarter as a result of the US subprime crisis. Most of the jobs will go in the US and Britain, all part of a giant shakeup of the bank's a...
Directors' pay heads north
in Sox First, on May 5, 2008
Directors pay is going up, according to a new study from the Corporate Library . Directors' pay has gone up 12 per cent and the explanation given is that it's because of the increased workload. According to those stats, directors are now putting in 200 to 225 hours a year, compared to ...
Does gold stack up?
in Sox First, on May 3, 2008
No substance has held as much allure over the centuries as gold. And that allure still seems to hold with gold prices going up to as much as $1000 an ounce in March. The price has dropped back since but it's still figuring prominently in investment reports. One very good reason for t...
Cybercrime primer
in Sox First, on May 2, 2008
Phishing. E-bank theft. Spoofing. Botnets. All terms describing different forms of cybercrime. Some good details in this piece of research from Stan Kratchman, Jacob Smith and L. Murphy Smith from the university of texas . Their paper, The perpetration and prevention of cybercrimes , she...
Siemens: from bad to worse
in Sox First, on May 1, 2008
Siemens earnings are sliding , down 67 per cent, because of project delays, cancellations and costs flowing the bribery investigation. Siemens latest woes coincide with a report from international law firm Debevoise & Plimpton that there has been widespread violations of domestic and f...
Lauren Conrad 性爱录像被曝真实存在
in YuleGuan, on April 30, 2008
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《好莱坞女孩》(The Hill)女主角劳伦-康拉德(Lauren Conrad)与海蒂-蒙塔格(Heidi Montag)不和已经不是什么秘密了。传言中康拉德与前男友《拉古娜海滩》的演员杰森-沃勒(Jason Wahler)的性爱录像,更是让她与本来就分分和和的男友斯宾塞-普拉特(Spencer Pratt)关系恶化。虽然MTV立即将《好莱坞女孩》第三季中断几天来平息传言,但是看来还是没能...
Feeding the bears
in Sox First, on April 30, 2008
... in a generation". You can watch it on video here . At BloggingStocks , Douglas A. McIntyre says the Fed jumped the gun and acted too quickly. But The Economist blog defends the Fed, saying...
The business of corruption
in Sox First, on April 29, 2008
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 FCPA actions in the first months of 2008 - lawyers are predicting another record year is in sto...
Will say on pay cut it with investors?
in Sox First, 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. companies this year, compared with 73 last year and nine in 2006, reports The Wall Street Journal . ...
Rogue trader's new job
in Sox First, on April 28, 2008
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 consultancy. He has started his new gig just a few weeks after his release from prison. It's a big risk for ...
PCAOB's fifth birthday
in Sox First, 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 numbers . She has come up with some good stats too. 4000 public company audits reviewed in just f...
It's jail time for tax evader Wesley Snipes
in Sox First, on April 25, 2008
...edemption and Escape from New York . And what to make of the sentence? The US Justice Department says it's a wake-up call for would-be tax defiers. But columnist Sandy Sand says it's h...
Money to burn: UBS and the banking strategy crisis
in Sox First, 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, troubled Swiss banker UBS has announced it will keep its investment bank under tight control, even s...
BAE-Saudi appeal
in Sox First, 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 deal between arms maker BAE Systems and Saudi Arabia. Now we have the Serious Fraud Office an...




