Congrats to the WSJ for picking up a Pulitzer Prize for "public service" — though it could have just as easily been for investigative reporting — on the options backdating scandal (and to reporters Mark Maremont, Charles Forelle and James Bandler).
The Journal moved all of the related stories out from behind the firewall, available to all. These definitely make for intriguing reading.
Anyone who wants to overturn Sarbox should be required tor ead all of
these (I am in favor of reducing the burden on very small companies,
but not overturning it all).
OVERVIEW
• A continuously updated list of companies that have come under scrutiny for past stock-option grants and practices, including those that have disclosed government probes, misdated options, restatements and/or executive departures. By company | By executive
• A look at how stock options grants sometimes coincided with dips in prices at UnitedHealth, Apple and a selection of other companies.
• Video discussion by reporters Mark Maremont, Charles Forelle and James Bandler on their yearlong investigation of stock-options abuses:
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ARTICLES
• The Perfect Payday: CEOs Reap Millions by Landing Stock Options When They Are Most Valuable March 18
• How the Journal Analyzed Stock-Options Grants March 18
• Five More Companies Show Questionable Options Pattern May 22
• At HealthSouth, an Options Issue May 31
• Monster Worldwide Gave Officials Options Ahead of Share Run-Ups June 12
• During 1990s, Microsoft Practiced Variation of Options Backdating June 16
• Executive Pay: The 9/11 Factor July 15
• Setting the Date: How One Tech Company Played With Timing of Stock Options July 20
• Stock-Options Criminal Charge: Slush Fund and Fake Employees Aug. 10
• In Internal Probes of Stock Options, Conflicts Abound Aug. 11
• As Companies Probe Backdating, More Top Officials Take a Fall Oct. 12
• McGuire Faces Pressure to Leave at UnitedHealth Oct. 14
• Embattled CEO To Step Down At UnitedHealth Oct. 16
• Stock-Options Scandal Fugitive Puts Roots Down in Namibia Nov. 17
• How a Giant Insurer Decided to Oust Hugely Successful CEO Dec. 7
• How Backdating Helped Executives Cut Their Taxes Dec. 12
• Bosses’ Pay: How Stock Options Became Part of the Problem Dec. 27
• Living Large and Bouncing Back Dec. 30
Brazen theft on the back of shareholders perhaps has gone on for years before getting caught! And it has happened to the biggest and best companies in America! Amazing at the criminal acts, and even more so with the tolerance the shareholders have extended over the years. Is corporate theft already priced in?
Capital flows to the U.S. totaled $94.5 billion in February, the Treasury Department said. This is up from an inflow of $79.6 billion in the previous month. keep it coming boys….
A Pulitzer For the Perfect Executive Pay Story
As a way of saying thank you for the Pulitzer, the Journal has opened up its backdating archives. You can read all about the scandal, starting from the very first story published thirteen months ago. (Has it only been…
A Pulitzer For the Perfect Executive Pay Story
As a way of saying thank you for the Pulitzer, the Journal has opened up its backdating archives. You can read all about the scandal, starting from the very first story published thirteen months ago. (Has it only been…
You know?… I am VERY disappointed that none of you santimonius mother fuckers didn’t have more to say about this topic.
This is THE mofo’in topic, my friends…. It is THE topic!
Maybe I just overreacted, Barringo… but big league accountancy in the U.S. is still a house of mirrors.