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Category Archives: News and Events
The $4-Million Revenue Requirement for AMEX Corporate Cards: Close Enough
A manager at American Express is in the news because she alleges that she was suspended for raising issues about the sales tactics of AMEX employees charged with sales of the company’s corporate card. Sophia Lewis and other employees say … Continue reading
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The FBI Lawyer Who Altered an E-Mail to Get a Warrant
It feels as if the politics get in the way of the serious nature of the conduct of former FBI lawyer, Kevin Clinesmith. In order to represent that Carter Page, who was an adviser to the Trump 2016 presidential campaign, … Continue reading
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McDonald’s Pursuing Former CEO Steve Easterbrook for His Severance Pay
The board of McDonald’s kinda, sorta did an investigation into the conduct of their then CEO, Steve Easterbrook, in November 2019. The board concluded that they did not have enough evidence to show that Easterbrook’s behavior (sending sexually explicit text … Continue reading
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The Bathsheba Syndrome Again: Jerry Falwell Jr.
Jerry Falwell, Jr.took Liberty University from a small Baptist College to a University with 46,000 students and an endowment of close to $2 billion. He showed academia how to do online instruction. He held major sway in politics, particularly in … Continue reading
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Mike Fiers — Former Astro Pitcher Who Blew the Whistle on the Astros
Hence, his former status. Now with Oakland, this gentleman is a remarkable person. His climb to the majors included detours for a broken back and asking to go back to a Class A team so that he could be near … Continue reading
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The Kodak Options Mess
On July 27, 2020, Kodak executives were awarded stock options. Since Kodak shares were trading at $2.62 per share, the grants seemed like chump change. On July 28, 2020, Kodak announced that it would receive a $765 million loan from … Continue reading
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“Tyranny sincerely exercised for the good of its victims may be the most oppressive.”
C.S. Lewis
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The Grandmother and the 15-Year-Old Grandson’s Confidences
Nancy K., a grandmother from Irvine, California, wrote into “The Ethicist” at the New York Times. She explained that she lived with her daughter and that her 15-year-old grandson confides in her more so than with his mother. The lad … Continue reading
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Wilford Brimley: An Honest Man Who Could Steal a Scene
Wilford Brimley died at age 85. He was in “Cocoon” and other movies. He pitched oatmeal, and, let’s face it, if you are going to endorse a product, why not go with a staple? And he said of his acting … Continue reading
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On June 29, 2020, an Amended Class Action Complaint for violations of federal securities laws was filed against Mohawk and its CEO Jeff Lorberbaum in the Northern District of Georgia. The complaint alleges that the Company (1) engaged in fabricating revenues by attempting delivery to customers that were closed and recognizing these attempts as sales; (2) overproduced product to report higher operating margins and maintained significant inventory that was not salable; and (3) valued certain inventory improperly or improperly delivered inventory with knowledge that it was defective and customers would return it. “
There’s a line you don’t want to see in an 8-K filing with the SEC, especially when it is followed by another line about a subpoena from the SEC. Mohawk Industries stands accused of some new twists and turns in … Continue reading
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The Twitter Hack: The Hackers Manipulated a Small Number of Twitter Employees
Translation: Insiders helped the process along. The employees were targeted by the hackers who requested password resets. Whether done intentionally or through lack of training, the hackers found the weak link in employees. The vulnerability of companies, tech and otherwise, … Continue reading
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Those 26 Quarters of 20% Growth in Sales at Under Armour: The SEC Is Taking Enforcement Action
When it seems to be too good to be true, it is too good to be true. The phenomenal growth of Under Armour now has an explanation. To meet numbers, executives scrambled by forcing retailers to take more inventory than … Continue reading
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The Quid and the Pro and the Quo, Again — This Time in Canada
Canadian Prime Minister Justin Trudeau is dealing with a political scandal. It seems that the We Charity paid nearly $300,000 (Canadian) to the prime minister’s mother, brother, and wife in speaking fees (and another $187,000 in expenses (Canadian)). The WE … Continue reading
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Bob Baffert Suspended After Horses Test Positive for Lidocaine
Two Baffert-trained horses tested positive for lidocaine. One had won the Arkansas Derby on May 2 ($300,000 prize). The other had won the Acorn Stakes at Belmont by 19 lengths in record time. Baffert, a trainer’s trainer has trained two … Continue reading
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