Monthly Archives: March 2010

“I disclosed this information . . . intentionally and I knew what I was doing was wrong.”

Posted on March 30, 2010 by mmjdiary

Robert Moffat, former senior VP at IBM.  The 11th individual of the 21 indicted to enter a guilty plea in the spider-web-like case of alleged insider trading by Galleon Group.  Mr. Moffat acknowledged that he passed along information on how sales … Continue reading →

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Fewer Restatements: Better Accounting? Maybe not.

Posted on March 30, 2010 by mmjdiary

For 2009, there were only 630 U.S. companies that filed earnings restatements.  The high for restatements was in 2006 and totaled 1,564, but we are in a steady decline.  Both extent and magnitude are down.  Further, the restatements filed in … Continue reading →

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The “Our Little Genius” Investigation

Posted on March 27, 2010 by mmjdiary

The FCC is investigating the now-pulled Fox series, “Our Little Genius” because of questions regarding “how some information was relayed to contestants during preproduction.” Did these television producers and directors never see the movie “Quiz Show”?  Have they never heard of … Continue reading →

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“Ultimately, I guess it is where your threshold of discomfort is.”

Posted on March 27, 2010 by mmjdiary

Google co-founder Sergey Brin on why Google reversed its position on doing business in China. Previously the company was doing business there in order to “advance the bar.”  Well done, sir, but “discomfort” is a detached and sterile term to describe one’s reaction to … Continue reading →

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I need Monday night football.

Posted on March 23, 2010 by mmjdiary

A former lawmaker in Kentucky who is in prison for murder asked to be moved from protective custody so that he could join the ranks of the prison proletarian masses for gridiron bonding.  Neither rain nor snow, nor sleet, nor murder … Continue reading →

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Enforcement Is to Organizations What Integrity Is to Individuals: The Pope and the Bishops

Posted on March 23, 2010 by mmjdiary

The Pope has offered his apologies for the “sinful and criminal” conduct of the priests.  He has spoken of betrayal of trust.  However, the key element missing in the Vatican’s handling of the sexual abuse scandal that has crawled across Europe is discipline.  … Continue reading →

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And more in the “under the bus” category — Another Galleon guilty plea

Posted on March 20, 2010 by mmjdiary

Former Intel executive Rajiv Goel, entered a guilty plea to two counts of conspiracy and securities fraud, admitting that he passed inside information along to his friend of 25 years, Raj Rajaratnam, the former hedge of Galleon Group hedge fund.  … Continue reading →

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Arne Duncan and 40% grad rate for NCAA post-season play

Posted on March 20, 2010 by mmjdiary

The U.S. Secretary of Education would ban basketball teams from March Madness unless they could show a 40% graduation rate — that’s 2 of every 5 players.  Secretary Duncan called it a “low bar.”  Well, it’s fairly high for many … Continue reading →

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“They knew.”

Posted on March 20, 2010 by mmjdiary

Harry Markopolos, on investment fund advisers and their take on Bernie Madoff, in his new book on the $65-billion Madoff Ponzi scheme, “No One Would Listen.”  Still, they kept investing.

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Planting Shills and Off-Label Remarks

Posted on March 20, 2010 by mmjdiary

Doctors who speak at continuing medical education (CME) conferences always sign agreements promising pharmaceutical firms that they will speak to only the approved uses for that company’s drug.  Pharmas earn deep FDA trouble for marketing off-label uses. However, one doctor explained that he signs the agreement, but … Continue reading →

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“This is clearly a systematic failure on the part of the meters and the technology.”

Posted on March 20, 2010 by mmjdiary

Bhairavi Desai, executive director of the New York Taxi Workers Alliance, upon the Taxi and Limousine Commission’s disclosure of a report that found taxi drivers were pushing the button on the meter of their cabs so as to charge the … Continue reading →

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“I treated this no different than any other event in my life … no different than any other event where someone feels they had been wronged.”

Posted on March 19, 2010 by mmjdiary

Former Utah House Majority Leader Kevin Garn upon his admission that he had indeed paid a woman $150,000 in 2002 in exchange for her promise to keep quiet about their naked hot-tubbing 25 years earlier when she was 15 and an … Continue reading →

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The FCPA — More Prosecutions Than Ever

Posted on March 19, 2010 by mmjdiary

The National Law Journal, in an article by attorneys William V. Roppolo and Marcus R. Cohen, reports that there have been more FCPA prosecutions concluded in the last 4 years than in the previous 28.  Prosecutors are able to put … Continue reading →

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“We are also dealing with a whistle-blower letter, that is on its face pretty ugly.”

Posted on March 19, 2010 by mmjdiary

William Schlich, former lead partner on Ernst & Young Lehman team. June 5, 2008.  In July, 2008, the E&Y team told Lehman’s audit committee that the allegations were unfounded and immaterial. Lehman would file for bankruptcy on September 15, 2008.

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