July 2007 - Posts
-
Private equity and hedge fund managers argue that "carried interest" should be taxed as capital gains, and not as compensation. Senators probed private fund managers and tax experts Tuesday to determine the need for a controversial tax hike for hedge...
Read More...
|
-
Aspen Technologies settled revenue recognition charges with the SEC, without being slapped with a fine. But the software maker still has problems classifying monies from technology licenses. The Securities and Exchange Commission charged Aspen Technology...
Read More...
|
-
Alliance Imaging will restate its financials to correct how it has accounted for interest-rate swaps since 2004, the second Deloitte-audited company to do so in as many weeks. Another client of Deloitte & Touche has announced the need to restate at...
Read More...
|
-
The SEC commissioners' release of two contradictory shareholder proposals raised eyebrows in the Senate, but chairman Christopher Cox testified that the move was necessary to reach a fall deadline. Senators criticized Securities and Exchange Commission...
Read More...
|
-
The early adopters of the SEC's interactive data system will test the efficacy of the program when they file their 10-Qs next year, says the commission's chairman. The Securities and Exchange Commission's push for the expanded use of technology that makes...
Read More...
|
-
Online version of paper says a key Bancroft family trust has switched positions, and now will sell. The Wall Street Journal online edition reported that News Corp. appears to have enough votes to gain control of the paper’s parent, Dow Jones &...
Read More...
|
-
After helping to stabilize the company's financial position following an alleged accounting scandal, McGrath moves on. Michael E. McGrath has resigned as president and chief executive officer of i2 Technologies Inc., effective July 30. McGrath, 57, says...
Read More...
|
-
The maker of health-care products will cut 5,000 jobs; the online employment advertiser plans to cut 15 percent of its full-time staff. Johnson & Johnson said it could eliminate nearly 5,000 jobs as part of a sweeping reorganization designed to save...
Read More...
|
-
Botched options-dating procedures led to restatements and reported debt-covenant defaults at the seafood restaurant chain. But the board investigation found no signs of malfeasance. Officials at Landry's Restaurants Inc. said a special board committee...
Read More...
|
-
Corporate America is learning how to live with the tough regulations introduced after the collapse of Enron. For the leaders of corporate America it has been five long years. The Sarbanes-Oxley Act, widely known as SOX, was signed into law on July 30th...
Read More...
|
-
Keith Sherin has been the company's finance chief for nearly 10 years. GE has promoted CFO Keith Sherin to vice chairman. In his new position, the 26-year veteran of the conglomerate will be responsible for finance, tax, treasury, controllership, and...
Read More...
|
-
A former finance systems manager for construction firm PBS&J was also ordered to pay $9.5 million in restitution for participating in a $36 million scheme. The third former employee to be sentenced for her role in a $36 million embezzlement scheme...
Read More...
|
-
In our M&A Roundup for the week ending July 29, reports of the death of the deal were exaggerated, as activity rose slightly from the prior week. Merger and acquisition activity held up well in the face of concerns over weak credit markets and predictions...
Read More...
|
-
The biotech company cancels its IPO as a volatile week on Wall Street sends some, but not all, potential issuers scattering. The market's recent heavy volatility and sharp downturn late last week are starting to impact the new issues market. Quark Pharmaceuticals...
Read More...
|
-
The credit market suffers from a spot of apprehension and indigestion. Calling it a credit crunch might be an overstatement. But it does look like a credit squeeze. In recent years, investors' enthusiasm for high-yield products has allowed borrowers free...
Read More...
|
-
A federal judge finds International Energy and Resources in contempt for not turning over subpoenaed documents to the commission. A federal court has found International Energy and Resources Inc. in contempt of court for not complying with a Securities...
Read More...
|
-
The former CFO of a small, defunct shipping company is charged with tax evasion after not reporting income he allegedly embezzled. While finance executives involved in big white-collar crime cases make headlines, the Internal Revenue Service remains vigilant...
Read More...
|
-
Alternative fuels company, which is attempting to retain Nasdaq listing, thinks restatements reflecting stock-option accounting will "probably" include 2001 to 2005. Fuel Systems Solutions warned that it will probably restate prior results to recognize...
Read More...
|
-
Newark, N.J., utility giant says its PSEG Holding unit misclassified senior notes. Public Service Enterprise Group Inc. said it will restate its first quarter financial statements due to an accounting error at one of its wholly owned subsidiaries. The...
Read More...
|
-
Hedge fund managers stick to what they are good at, but that doesn't mean investors should breath a collective sigh of relief. A report by the New York Federal Reserve on hedge funds set off alarm bells recently when the bank seemed to suggest that funds...
Read More...
|
-
CFOs of Europe's mid-tier flag carriers are leading radical strategy overhauls. Lasse Heinonen, CFO of Finnair, is well aware of the €2 billion airline's competitive advantage: from its hub in Helsinki, Finnair offers a travel time to northeast...
Read More...
|
-
James Overdahl will leave the Commodity Futures Trading Commission to join the SEC. The Securities and Exchange Commission did not need to look far for a new chief economist. Just across town was James Overdahl, chief economist of the Commodity Futures...
Read More...
|
-
Deficiencies in finding and addressing fair-value problems and stock option accounting was also cited. The Public Company Accounting Oversight Board has released the results of its 2006 inspection of KPMG and has cited the accounting firm for 14 audit...
Read More...
|
-
The electricity producer's debtors have submitted bids for another emergence plan to replace the one announced in June. Calpine, which recently filed a reorganization plan to emerge from Chapter 11 bankruptcy during the fourth quarter, said a new plan...
Read More...
|
-
Thirty percent of eligible employees took UPS's early retirement package. UPS said it recorded a $68 million charge stemming from an early retirement program. The package delivery company had offered 640 employees a special voluntary separation opportunity...
Read More...
|
More Posts Next page »
|
|
|
|
|
