Pressure Rising on Lehman, CEO Under Fire Aug 25, 2008
Monday August 25, 2008 9:10 AM ET. Buzz up this storyon Yahoo. (SmartMoney)
* Government engaged in political vendetta: Chen Aug 24, 2008
Following the assassination attempt, the KMT found other excuses to persecute him, he said, adding that they had questioned his role in the MRT system in Kaohsiung, his son-in-laws insider trading case and the transfer of management at the Sogo Department Store. He was cleared of all charges, Chen said. (Taipei Times, Taiwan)
SEC Dealt Blow in Key Insider Trading Case Aug 23, 2008
The U.S. Securities and Exchange Commission was dealt a serious blow on Wednesday in the first ruling to involve an insider trading case brought against a former hedge fund salesman who used a certain type of unregistered stock to "hedge" a short sale ... The SEC also has tacked on insider trading allegations to these suits ... Earlier this year, the SEC lost three significant court rulings on the 5 claims, but the federal judges in all cases permitted the insider trading allegations to remain.... (Law.com)
Taking on Dr. Doom Aug 23, 2008
The Worst Recession Since the Depression. (Ahead of the Curve) at SmartMoney. (SmartMoney)
Why options controversy matters -- and to whom Aug 23, 2008
It seems close to the ethical equivalent of insider trading. The social norm, the consensus, is that insider trading is unethical and illegal. (San Jose Business Journal, CA)
Stewart feeling confined Aug 22, 2008
Last summer, Stewart was found guilty of lying to investigators looking into the ImClone insider trading scandal. After serving a five-month prison term, Stewart is now in the second phase of her sentence: confinement to her house for 120 hours a week until early August. (Yahoo News -- Martha Stewart)
MADD Mixture: Beer, Gasoline and Money Aug 22, 2008
"Alcoholic beverages are strategically placed for the motorist who has just purchased fuel, and sales promotions are common. Indeed, MADD does not oppose Adams bill, but is not supporting it arguing it does not oppose the responsible sale of alcohol to those 21 and older. But a spokesperson demurred when asked to define responsible. Instead, Hurley reiterated his pitch for legislation to require ignition interlocks. But Adams offered a further complication in the sale of... (Fox News)
China's fledgling fund industry under fire as stocks tumble Aug 22, 2008
The China Securities Regulatory Commission has launched a nationwide inspection to ensure regulations governing fund sales are obeyed, and this year it punished two fund managers for insider trading. . (International Herald Tribune -- Business)
Not Just Income Aug 22, 2008
8 Stocks With Dividends and Growth Potential (InterContinental Hotels Group, Marriott International, Banco Santander, Garmin, Jones Lang LaSalle, NutriSystem, NYSE Euronext, Seagate Technology, Vimpel Communications) at SmartMoney. Friday August 22, 2008 9:56 AM ET. (SmartMoney)
Efficiency Experts Aug 22, 2008
8 Stocks With High Returns on Invested Capital (Activision Blizzard, America Movil, Darling International, Garmin, Guess, McDermott International, MEMC Electronic Materials, Precision Castparts) at SmartMoney. Friday August 22, 2008 9:57 AM ET. (SmartMoney)
Judge clears local hedge-fund manager of insider trading Aug 22, 2008
Members: Not Registered. for free extra services. (Charlotte Business Journal, NC)
Judge Dismisses SEC Claims Against John F. Mangan, Jr. on Alleged Insider Trading Aug 21, 2008
SEC Prosecutors Face New Landscape in PIPEs cases CHARLOTTE, N.C., Aug. 20 /PRNewswire/ -- Today, in a summary judgment, U.S. District Court Judge Graham Mullen dismissed the United States Securities and Exchange Commission's ("SEC") case against John Mangan, Jr. that alleged 10B-5 insider trading ... The movement of the insider trading case to summary judgment in March 2008 permitted Mangan to submit evidence in his defense, something he was not allowed to do until then ... Mangan's co-counsel,... (PR Newswire)
* Chen did not seek Wang to cut a deal, say staffers Aug 21, 2008
Meanwhile, special agents Hsu Ding-jia (\wa) and Chung Kao-ming () from the Ministry of Justices Bureau of Investigation (BOI) posted an article on the bureaus internal Web site on Monday accusing Shilin Chief Prosecutor Hsu Yung-chin (\) of ignoring Chens potential involvement in the Taiwan Development Corp (TDC) insider trading case in 2006. Hsu was the prosecutor in charge of the case, which concerned Chens son-in-law Chao Chien-ming (). (Taipei Times, Taiwan)
* MOFA to probe reports on Singapore information Aug 21, 2008
Former first lady Wu Shu-jen (dQ) allegedly transferred money to a Singapore bank account in her brother Wu Ching-maos (dZ) name last year after Chao Chien-ming (), Chens son-in-law, was indicted for insider trading in a corruption scandal in 2006. Wu Ching-mao reportedly then closed his account and transferred the money to a Swiss bank account under the name of Huang Jui-ching (), Chen Shui-bians daughter-in-law. (Taipei Times, Taiwan -- World)
Skilling reports to prison Aug 21, 2008
In the order, the court indicated that its decision earlier this year to overturn convictions in another Enron trial -- the Nigerian barge case -- created "difficulties" for Skilling's convictions of conspiracy, securities fraud and insider trading. "Yet Skilling raises no substantial question that is likely to result in the reversal of his convictions on all of the charged counts," the order continues. (Yahoo News -- Enron)
Enron's Skilling May Report to Federal Prison Today Aug 21, 2008
With good behavior, Skilling, who was convicted of 19 counts of fraud, conspiracy, insider trading and lying to auditors, can expect to serve 85 percent of his sentence, or roughly 20 years. If he enters an alcohol treatment program, he could shave another year off his term. (Yahoo News -- Enron)
Profits Beget Profits Aug 21, 2008
8 Stocks With Earnings Momentum (Stock Screen) at SmartMoney. Thursday August 21, 2008 9:34 AM ET. (SmartMoney)
Dow Falls 130 as Market Takes Another Drubbing Aug 20, 2008
I just dont think we can get around the magnitude of negative news on the financial front," said Art Hogan, chief market strategist at Jeffries & Co. It's worth noting that for the second day in a row volume was very low as barely 1 billion shares exchanged hands on the NYSE, compared to the typical volume of more than 1.3 billion. The relatively quiet trading action often reflects a lack of conviction in the overall market's movement. Insurer AIG (AIG) led the way down among the Dow... (Fox News)
The Problems With Russia Aug 20, 2008
Investors Should Hold Off on Investing in Russia (Common Sense) at SmartMoney. Wednesday August 20, 2008 10:13 AM ET. (SmartMoney)
OSC fines Duic for breaching order Aug 20, 2008
Mr. Duic signed an agreement with the OSC in 2004 to settle allegations of insider trading involving information he gleaned from Mr. Rankin about pending takeover deals. As part of his settlement agreement, Mr. Duic faced a ban on selling securities in Ontario except for his RRSP account. (Globe and Mail -- Business)
Attorneys seek to drop 5 Enron defendants Aug 19, 2008
Hirko was acquitted of some insider trading and money laundering charges and is appealing the government's attempt to retry him on conspiracy and fraud charges. Whalley was never charged with a crime. (Yahoo News -- Enron)
Charts Don't Lie Aug 19, 2008
Stock Charts Are Top Tool for Investors (iShares FTSE/Xinhua China 25 Index, Stillwater Mining, McClatchy, Washington Mutual, Schwab YieldPlus, Johnson on, Pfizer, Legg Mason Value Trust) at SmartMoney. Tuesday August 19, 2008 10:01 AM ET. (SmartMoney)
Face-Off: Motorola Aug 19, 2008
Motorola: Should Investors Redial. (SmartMoney Magazine) at SmartMoney. (SmartMoney)
FSB inquiry a 'big investigation' Aug 19, 2008
The Financial Services Board (FSB) is taking longer than it expected to wrap up its insider trading investigation into Sentula Mining shares and is likely to decide on the action it could take in late November rather than early September. Gerhard van Deventer, the FSB executive director of market abuse, said the inquiry was proving to be a "big investigation". (Business Report, South Africa)
JetBlue to Waive Change Fees and Fare Differences to Assist ... Aug 18, 2008
Insider trading data provided by. Upgrades and downgrades provided by. (FOXBusiness)
Bristol-Myers offering $4.5 billion for ImClone Aug 18, 2008
Erbitux was the drug that sent homemaking mogul Martha Stewart to prison for five months for insider trading, because she sold 3,928 shares of her ImClone stock on a tip just before the Food and Drug Administration in 2001 denied ImClone's application to sell the drug. Ironically, Stewart had claimed that she did nothing wrong and had an agreement with her broker to sell her ImClone stock if the share price fell below $60 the same amount Bristol-Myers is now offering for ImClone. (Yahoo News -- Pharmaceutical Industry News)
In the real estate buzzsaw Aug 18, 2008
Edumacation wrote on Aug 16, 2008 6:27 PM:" Links to the one dollar houses:Detroit News August 13, 2008 article by Ron French.Zillowblog August 14, 2008 article by Diane Tuman---with before and after photos.Remember FOR YOU TO KNOW. Realtors ALWAYS have first dibs on EVERY HOUSE before its "listed". The MLS is filled with overpriced houses (not wanted by Realtors). If it were a good deal, REALTORS would grab it up. Yes insider trading in Realty is legal in California. The MOST IMPORTANT factors... (Lodi News Sentinel, CA)
Cadence Withdraws Proposal to Acquire Mentor Graphics Aug 17, 2008
" Cadence also announced today that its Board of Directors has expanded the Company's authorized share repurchase by up to an additional $500 million, subject to market conditions. Together with the Company's current share repurchase program, Cadence's total share repurchase authorization is now approximately $912 million. Cadence will repurchase the shares from time to time for cash in open market transactions or in privately negotiated transactions in accordance with applicable federal... (FOXBusiness)
An Open Mind to Closed-Ends Aug 16, 2008
Keep an Open Mind About Closed-End Funds (India Fund, Morgan Stanley India Investment Fund, H lthcare Investors, Gilead Sciences, Genzyme, Becton Dickinson, BlackRock Health Sciences Trust, Medtronic, Stryker, Roche Holding) at SmartMoney. Saturday August 16, 2008 9:42 AM ET. (SmartMoney)
A Bear Market in Commodities? Aug 16, 2008
Have Commodities Run Out of Gas. (Ahead of the Curve) at SmartMoney. (SmartMoney)
SEC Settles With Former Apple GC Over Backdating Aug 15, 2008
Those work out to much lower disgorgement-to-penalty ratios than what is found in insider trading cases, where securities lawyers say it is usually one to one. Mitchell said Congress authorized treble penalties for insider trading cases, which gives the agency more leverage in pursuing larger fines. (Law.com)
Pleased to Meet You Aug 15, 2008
8 Stocks Flying Under Wall Street's Radar (Rofin-Sinar, Siemens, Astec Industries, Big Lots, Deckers Outdoor, Gardner Denver, Lindsay, Milti-Fineline Electronix, ThinkOrSwim Group) at SmartMoney. Friday August 15, 2008 9:49 AM ET. (SmartMoney)
OSC claims Duic breaching terms of settlement Aug 15, 2008
TORONTO Daniel Duic, the former friend of disgraced investment banker Andrew Rankin who testified against Rankin at trial, is breaking the terms of his settlement over illegal insider trading, Ontario securities regulators alleged Thursday ... In its statement of allegation, the OSC said Duic has been using a U.S. dollar margin account and an RRSP account at TD Waterhouse Canada -- the same accounts he used "to engage in the illegal insider trading that was the subject of the settlement... (CTV.ca)
Stewart feeling confined Aug 14, 2008
Last summer, Stewart was found guilty of lying to investigators looking into the ImClone insider trading scandal. After serving a five-month prison term, Stewart is now in the second phase of her sentence: confinement to her house for 120 hours a week until early August. (Yahoo News -- Martha Stewart)
FOXBusiness: House in Detroit Sells for $1 Aug 14, 2008
" The property taxes will run the new owner $3,900, in 2009. At the time of sale, the home had been stripped of its siding, fence, light fixtures, copper plumbingeven the kitchen sink had been taken. Boards that were used to board up the windows were also stolen and used to board up a house down the street, according to The Detroit News. Market Snapshot Symbol Last Price Netchange Volume -- -- -- -- -- -- -- -- -- -- 000033E1 -- -- -- -- -- -- -- -- -- -- Most Read / Emailed & Blogs FOX... (Fox News)
Justice picks Kneelder to argue Nacchio case Aug 14, 2008
U.S. Deputy Solicitor General Edward Kneedler will argue to reinstate the former executive s conviction on 19 felony counts related to insider trading. A jury found Nacchio guilty in a 2007 federal district court trial after hearing testimony that he made $52 million from 2001 Qwest (NYSE: Q) stock trades made while Nacchio kept shareholders in the dark about increasingly dire internal forecasts about Denver-based Qwest s prospects. (Denver Business Journal, CO)
SAN MARCOS: Four vie for three Palomar College seats Aug 14, 2008
Incidentally, does anyone know about Dishman's being investigated for insider trading while at DeVry. What is her agenda. (North County Times)
Midsize Marvels Aug 14, 2008
8 Midsize Stocks With Bigtime Ambitions (Copart, LKQ, eBay, Exxon Mobil, Apple, Airgas, Anixter International, DeVry, Lindsay, Nordson, Quality Systems, Resources Connection) at SmartMoney. Thursday August 14, 2008 10:21 AM ET. (SmartMoney)
Regulator forces reforms on ASX Aug 14, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
Blame the Banks: Dow Loses 140 Points Aug 13, 2008
" World Markets The Dow Jones Euro Stoxx 50 Index, a gauge of the 50 biggest companies in Europe, fell 8.81 points, or 0.26%, to 3436.85 The FTSE 100, London's benchmark index, slid 7.30 points, or 0.13%, to 5534.50. On the continent, Paris' CAC 40 closed down 20.01 points, or 0.44%, to 4518.48, while Germany's DAX lost 23.76 points, or 0.36%, to 6585.87 In Asia, Hong Kong's Hang Seng fell 25.87 points, or 0.12%, to 21859.34 while Japan's Nikkei 225 rose 262.50 points, or 1.99%, to 13430.91.... (FOXBusiness)
* MOJ increases training for financial crime investigators Aug 13, 2008
The intermediate level will emphasize investigating skills, with courses on how to investigate stock market players, embezzlement, insider trading, illegal income, case studies and financial checks. Courses at the higher levels will include investigating mergers and acquisitions as well as the practices and criminal strategies of offshore companies. (Taipei Times, Taiwan -- World)
Skilling reports to prison Aug 13, 2008
In the order, the court indicated that its decision earlier this year to overturn convictions in another Enron trial -- the Nigerian barge case -- created "difficulties" for Skilling's convictions of conspiracy, securities fraud and insider trading. "Yet Skilling raises no substantial question that is likely to result in the reversal of his convictions on all of the charged counts," the order continues. (Yahoo News -- Enron)
Enron's Skilling May Report to Federal Prison Today Aug 13, 2008
With good behavior, Skilling, who was convicted of 19 counts of fraud, conspiracy, insider trading and lying to auditors, can expect to serve 85 percent of his sentence, or roughly 20 years. If he enters an alcohol treatment program, he could shave another year off his term. (Yahoo News -- Enron)
Cash Flow Is King Aug 13, 2008
8 Stocks for Free Cash Flow Fans (Cisco Systems, Juniper Networks, Riverbed Technology, F5 Networks, Abercrombie , Cal Dive International, L-3 Communications, Nvidia, Owens , Parker Hannifin, Regal-Beloit) at SmartMoney. Wednesday August 13, 2008 9:46 AM ET. (SmartMoney)
Shame on Them Aug 13, 2008
ARPS Scandal: Banks Must Rebuild Investors' Trust (Citigroup, Merrill Lynch, UBS, Morgan Stanley, Morgan Stanley, J.P. Morgan, Wachovia) at SmartMoney. Wednesday August 13, 2008 9:46 AM ET. (SmartMoney)
Credit Unions Falter in Face of Mortgage Woes Aug 12, 2008
7 billion of unrealized" losses at the end of May this year, according to the Journal. Unrealized losses occur even when a security hasnt been sold, when the market value of a security drops. According to the Journal, the losses of the credit unions are enough to wipe out the next worth of each of them, given that their negative equity is $2.9 billion and that their debts exceed the market value of their assets. Commercial banks and financial firms nationwide have taken more than $300... (Fox News)
JOLTS: It's the Path, Not the Destination Aug 12, 2008
An increase in quits," for example, the number of workers who leave jobs voluntarily, could be seen as a positive indicator since individuals, for the most part, would not voluntarily leave their jobs unless they were confident of their ability to get a new job. Beyond the macro data describing the overall in's and out's in the labor market, the report details industry hirings, separations and openings with the last serving as an indicator of future expansion. JOLTS has picked up a... (Fox News)
Countrywide Faces FTC Probe Over Loan Servicing Aug 12, 2008
This concerns whether former Countrywide Chief Executive Angelo Mozilo violated insider trading laws and whether Countrywide's financial disclosures misled investors, the Los Angeles Times said. Separately, Countrywide is under investigation by the FBI, authorities have said. (ABC News -- Wire)
John Keeley Jr.: Seasoned Value Seeker Aug 12, 2008
Tuesday August 12, 2008 9:52 AM ET. See how the stocks on this page stack up. (SmartMoney)
Bringing Down Bear Began as $1.7 Million Options Pointing to Rigged Market Aug 12, 2008
Options, contracts to buy or sell shares by a certain date at a specific price, can offer forensic evidence of market manipulation and insider trading, said , a former U.S. Securities and Exchange Commission Enforcement Division lawyer who helped prosecute , the stock- picker convicted in 2005 on 11 counts of securities fraud, wire fraud, extortion and racketeering ... The former all-conference pitcher at Tulane University, who started Truth in Options in 2003, said he has found options... (Bloomberg)
Death by a Thousand Cuts Aug 11, 2008
How to Go Broke a Few Cents at a Time (Wal-Mart, Hasbro, Kellogg, Clorox, FocusShares ISE-Revere Wal-Mart Suppliers Index Fund) at SmartMoney. Monday August 11, 2008 10:11 AM ET. (SmartMoney)
Dow Soars 303, Cashes in on Dollar Aug 10, 2008
People are feeling more emboldened to put more money into equities," said James, who also said it was encouraging that oil kept declining even as reports indicated Russia and Georgia were on the brink of war. Airline stocks certainly benefited as they jumped 8% on Friday. Shares of Continental (CAL), United (UAUA) and American Airlines (AMR) all closed sharply higher. The good news from commodities and the greenback helped overshadow mortgage giant Fannie Mae's (FNM) worse-than-expected... (Fox News)
Think We're in a Recession? Head to Disneyland. Aug 9, 2008
Think We're in a Recession. (Disney, Starbucks) at SmartMoney. (SmartMoney)
FOXBusiness: Dow Plunges 225 in Sea of Bad News Aug 8, 2008
It's like a 'What other shoe can drop'" mentality, said Davis, referring to the Citi news. AIG set the bearish mood even before the day started, posting its second-largest loss ever late Wednesday. The company's adjusted-loss of 51 cents per share missed average estimates of 46 cents per share. Aside from a brief cooling off period, oil prices didn't offer Wall Street much to cheer about. Crude closed $1.44 higher at $120.02 on the day. The gains for crude oil came despite another rally for the... (Fox News)
Citi Reaches Settlement Over Securities Probe Aug 8, 2008
" Last week, Cuomo threatened to sue the company for repeatedly and persistently omitting and misrepresenting facts when marketing and selling auction-rate securities, according to the Wall Street Journal. Citi will have three months, or until Nov. 5, to buy back the auction-rate securities from the individual investors, small businesses, and charities that purchased them. The agreement also requires the Citi to use its best efforts to liquidate the near $12 billion in auction-rate... (Fox News)
Citigroup reaches $7 billion settlement with investors Aug 8, 2008
But unlike Citigroup, UBS faces additional accusations that at least one of its executives engaged in insider trading. Jenny Anderson contributed reporting. (International Herald Tribune -- Money Report)
Eye on Profitability Aug 8, 2008
8 Stocks With Enviable Profitability (Stock Screen) at SmartMoney. Friday August 8, 2008 10:20 AM ET. (SmartMoney)
Fannie Mae Swings to Loss, Shares Hit Aug 8, 2008
Friday August 8, 2008 10:20 AM ET. Buzz up this storyon Yahoo. (SmartMoney)
PAETECs Largest Shareholder Cashed in Before Stock Fell Aug 7, 2008
A closer look at insider trading filings shows a few interesting transactions; but as Ill explain, they only serve to raise more questions not answers. is PAETECs largest shareholder, with nearly 9 million shares as of May the companys Vice Chairman of the Board of Directors even surpasses CEO Arunas Chesonis in that category. (WOKR13 Rochester)
Bristol-Myers offering $4.5 billion for ImClone Aug 7, 2008
Erbitux was the drug that sent homemaking mogul Martha Stewart to prison for five months for insider trading, because she sold 3,928 shares of her ImClone stock on a tip just before the Food and Drug Administration in 2001 denied ImClone's application to sell the drug. Ironically, Stewart had claimed that she did nothing wrong and had an agreement with her broker to sell her ImClone stock if the share price fell below $60 the same amount Bristol-Myers is now offering for ImClone. (Yahoo News -- Pharmaceutical Industry News)
Citigroup nears deal to buy back auction-rate securities Aug 7, 2008
But unlike Citigroup, UBS faces additional allegations that at least one of its executives engaged in insider trading. In the STMicroelectronics lawsuit, the company says that it instructed Credit Suisse's brokers to invest in top-rated securities backed by student loans. (International Herald Tribune)
Attorneys seek to drop 5 Enron defendants Aug 7, 2008
Hirko was acquitted of some insider trading and money laundering charges and is appealing the government's attempt to retry him on conspiracy and fraud charges. Whalley was never charged with a crime. (Yahoo News -- Enron)
Top-Line Leaders Aug 7, 2008
8 Stocks With Accelerating Sales Growth (SalesForce. com, Bunge Ltd., Celgene, Central European Distributors, Foster Wheeler Ltd., LKQ, UTi Worldwide, XTO Energy) at SmartMoney. (SmartMoney)
Car Makers Turn a Corner Aug 7, 2008
U.S. Car Makers Finally Turn a Corner (Ford Motor, General Motors, Toyota Motor) at SmartMoney. Thursday August 7, 2008 10:04 AM ET. (SmartMoney)
Mortgages Ltd. faces securities inquiry Aug 7, 2008
They investigate cases of suspected insider trading, the sale of unregistered securities, selling securities without a license, misappropriation of investors' money and the misrepresentation or withholding of information important to investors. The securities investigation raises more questions about the business relationship between Radical Bunny and Mortgages Ltd.. (AZCentral -- News)
