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)
Don't Buy Le Tanker Aug 7, 2008
A simple reading of the newspapers will tell us that 1) top Airbus executives are under criminal investigation in France for an insider trading scheme, and a British affiliate is under investigation in Britain and the US for a bribery scheme involving Saudi royals; 2) French and German EADS affiliates want to sell weapons to China, Spanish affiliates want to sell to Venezuelan dictator Hugo Chavez, and its Russian shareholders favor a policy of coddling Iran; 3) attempts to cover over criminal... (Human Events Online)
Philip Bowring: A hobbled election in Hong Kong Aug 7, 2008
The banking sector will return unopposed a banker, David K.P. Li of the Bank of East Asia, who has held a council position since 1985 and is carrying on despite having recently been fined $8 million by the U.S. Securities and Exchange Commission in relation to insider trading in shares of Dow Jones, of which he was a board member. Today in Opinion. (International Herald Tribune -- Ed/Op)
Stewart feeling confined Aug 6, 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)
Dow Closes Up More Than 300 Points in Broad Rally Aug 6, 2008
" Looking ahead, the market expects the Fed to raise rates by the end of this year or more likely at the start of 2009. I think the Fed has time to wait and see what goes on down the road before they begin to fight inflation by raising interest rates, Lyle Gramley, former Fed governor, told FOX Business. For the second day in a row crude oil futures took a tumble, falling below $120 a barrel. Oil futures closed down $2.24 to $119.17 a barrel. There were several bearish factors weighing on... (Fox News)
Bristol Responds To ImClone Charges Aug 6, 2008
Ever since a scandal over regulatory troubles and insider trading crushed ImClone's stock price six years ago, Wall Street analysts have speculated that Bristol might buy ImClone outright. There have been many times when Bristol could have snapped up ImClone for far less than its current offer. (Forbes)
ImClone To Bristol: Gimme More Aug 6, 2008
(See ) Icahn took over after infamous securities scandal-snared investor and then-chief executive Samuel Waksal, who is serving time for insider trading. In a statement to the press, said that as a large shareholder of ImClone, he is opposed to the bid at its current price. (Forbes)
Breast Case Scenario Aug 6, 2008
8 Stocks Fit for Contrarian Investors (Mentor, Autodesk, Jackson Hewitt Tax Service, Legg Mason, Mine Safety Appliances, NutriSystem, Ruth's Hospitality, Scholastic) at SmartMoney. Wednesday August 6, 2008 9:56 AM ET. (SmartMoney)
Masonge aims to raise R89m in IPO Aug 6, 2008
Online Edition Powered By IOL. Johannesburg - Masonge, the second black equity ownership programme for employees of furniture retailer Ellerines and black individuals, was expected to raise R89 million from an initial public offering (IPO) to be opened tomorrow and closed on September 13, African Bank Investment Limited (Abil) said yesterday. (Business Report, South Africa)
Insider trading law nabs no crooks, but does the job Aug 6, 2008
It may indeed be that the prospect of doing some time in jail has reduced the instances of insider trading activity, but the reality is that no one in South Africa has ever been found guilty of a contravention of the Insider Trading Act. Even before the Insider Trading Act came into effect in 1999, trading on insider information was a criminal offence of which no one was ever found guilty ... It is nearly impossible to determine how much insider trading takes place on the JSE but reasonably... (Business Report, South Africa)
Enron setbacks could hurt other white-collar prosecutions Aug 5, 2008
""Whenever a court rules as the 5th Circuit did regarding this issue we listen to that ruling," he said.Skilling, who's serving a 24-year prison sentence, is awaiting the outcome of his appeal before the 5th Circuit. A jury convicted him of 19 counts of conspiracy, insider trading and lying to auditors. Kenneth Lay, Enron's former chairman of the board, also was convicted, but he died of a heart attack before he could be sentenced.Defense attorneys contend that prosecutors responded to the... (Anchorage Daily News)
Just What the Doctor Ordered Aug 5, 2008
Health-Care ETFs May Cure an Ailing Portfolio (HealthShares Infectious Disease, HealthShares Emerging Cancer, HealthShares Cancer, Yahoo, Starbucks, Advanced Micro Devices) at SmartMoney. Tuesday August 5, 2008 9:58 AM ET. (SmartMoney)
Why Kerry is putting his money where his heart is Aug 5, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
On Topic Archive: July 2008 - Gadgets Aug 4, 2008
Insider trading data provided by. Upgrades and downgrades provided by. (Fox News)
Globe Trotters Aug 4, 2008
6 Globe-Trotting Funds (iShares MSCI ACWI, Exxon Mobil, General Electric, BP, Petrobras, HSBC, T. Rowe Price Global Stock, Vanguard Total World, Fidelity Worldwide, Oakmark Global) at SmartMoney. Monday August 4, 2008 9:32 AM ET. (SmartMoney)
Nuclear Energy Not So Bad? Aug 4, 2008
Socially Responsible Funds Soften on Nuclear Power (Calvert, Domini Investments, Sentinel) at SmartMoney. Monday August 4, 2008 9:32 AM ET. (SmartMoney)
Internal S&P Emails Derided Ratings Rush Aug 4, 2008
Internal Sls Derided Ratings Rush (Breaking News) at SmartMoney. Monday August 4, 2008 9:32 AM ET. (SmartMoney)
Overhaul of insider trading investigations Aug 4, 2008
A new system to overhaul insider trading investigations is due to be agreed as early as this week in the latest response from US regulators to growing concerns about the extent of illegal activity on global markets. The plan, which has been the subject of negotiations for more than a year, is likely to be submitted to the US Securities and Exchange Commission. (FT.com -- Markets)
Enron's Skilling May Report to Federal Prison Today Aug 3, 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)
Skilling reports to prison Aug 3, 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)
U.K.'s FSA Needs More Power to Combat Market Manipulation, Lawmaker Says Aug 2, 2008
The FSA probe into gyrations in the HBOS share price on March 19 followed previous criticism by legislators over its oversight of , the British bank nationalized in February, and of insider trading. The FSA this week arrested and later released eight men, including an employee of UBS AG and a contractor at JPMorgan Cazenove Ltd., during an inquiry into alleged insider trading. (Bloomberg -- UK)
Bargain Hunt Aug 2, 2008
8 Stocks Promising Growth at a Bargain (Ruby Tuesday, Red Robin Gourmet Burgers, Arch Coal, Baldor Electric, BE Aerospace, Bucyrus International, Central European Distributors, Life Time Fitness, Precision Castparts) at SmartMoney. Saturday August 2, 2008 9:32 AM ET. (SmartMoney)
Former Bear Stearns CEO Schwartz to Leave JPMorgan ... Aug 1, 2008
" Sources said Schwartz will most likely move on to other opportunities possibly a competitor or a private equity firm. Alan Schwartz took over the reigns of Bear Stearns in early January after long-time CEO Jimmy Cayne resigned under pressure from investors. Schwartz attempted to restore Bear Stearns balance sheet during the first three months of the year, but was unsuccessful and firm collapsed on rumors that the firm was facing a liquidity crisis. JPMorgan then bought Bear Stearns for $1.1... (Fox News)
Nacchio hearing date pushed back Aug 1, 2008
The 10th Circuit Court of Appeals changed the date Thursday, a day after granting a new hearing in the case that will determine whether Nacchio s conviction on felony counts related to insider trading should be reinstated or whether he should have a new trial. The hearing had originally been scheduled for Sept. 24. (Denver Business Journal, CO)
* Powerchip chief charged with insider trading Aug 1, 2008
Powerchip chief charged with insider trading ... Hsinchu prosecutors yesterday indicted Powerchip Semiconductor Corp (Ob) chairman Frank Huang (R) on suspicion of insider trading and recommended a sentence of four years and six months in prison and a fine of NT$60 million (US$2 million) ... Prosecutors have found sufficient evidence that Huang earned more than NT$11 million through insider trading deals, the Hsinchu District Prosecutors Office said in a statement. (Taipei Times, Taiwan -- World)
Bristol-Myers offering $4.5 billion for ImClone Aug 1, 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)
Everything's Coming Up Icahn Aug 1, 2008
(See ) Icahn took over after the infamous securities scandal snared investor and then-chief executive Samuel Waksal, who is serving time for insider trading. Cornelius said on a call Thursday afternoon that neither Icahn, nor anyone else at Imclone, had responded to Bristol's offer. (Forbes)
Third Time's a Charm Aug 1, 2008
Merrill Move May Mark Capitulation on Financials (Fannie Mae, Freddie Mac, J.P. Morgan, Merrill Lynch) at SmartMoney. Friday August 1, 2008 9:56 AM ET. (SmartMoney)
Northern Oil: A Question of Value Aug 1, 2008
Ultimately, he was found to have broken SEC Rule 10b-5, which regulates insider trading, and was fined and barred from associating with NASD members ... Insider trading data provided by. (SmartMoney)
Amended Quarterly Activities Report - June 2008 Aug 1, 2008
15 ASIC INVESTIGATION The Company continues to assist the Australian Securities and Investments Commission (ASIC) with an investigation into alleged insider trading by former Company Secretary Mukesh Panchal, whose employment was terminated in February. QGC JUNE 08 QUARTERLY REPORT Page 15 of 17 16 SCHEDULE OF TENEMENT INTERESTS QGC has interests in six petroleum exploration tenements known as Authorities to Prospect (ATP), and in relation to some of those ATPs QGC has interests in four... (Sydney Morning Herald)
Nine-judge panel will hear Nacchio appeal Jul 31, 2008
The court Wednesday scheduled a rare second oral argument session for Sept. 24 to hear whether Nacchio s conviction on 19 felonies related to insider trading should stand. A three-judge panel of the court overturned Nacchio s conviction in March and ordered a second lower-court trial on the grounds that one defense witness was improperly excluded from the lower court s jury trial. (Denver Business Journal, CO)
Catch Me If You Can Jul 31, 2008
He also moved millions of shares between several accounts, including his own, without filing insider trading reports. I knew that I wasn t following all the rules, he says. (Forbes)
