Wednesday, March 16, 2005

Banker Dons a Black Hat. Has Bank of America no shame? [The Motley Fool] So, I've got some lost things I've been looking for too, BOA.  Can you just keep your eyes peeled for them as you continue the digilent search for the toothfairy, the gremlins or perhaps the flying monkeys that took your backup tapes.  WHERE DID THESE THINGS GO?  8:42:29 PM    comment [] SEC accuses former Qwest head of fraud. From 1999 to 2002, Qwest allegedly engaged in a complex scheme to improperly record more than $3 billion in revenue and exclude $17.3 million in expenses, according to the Securities and Exchange Commission. [Computerworld News] Keep going guys.  This is your job after all.  What did you think?  That juries and the regular people weren't going to support you?  8:32:50 PM    comment [] Kaiser Permanente patient data exposed online. Kaiser Permanente, a California HMO, acknowledged that the personal information of 140 patients was accessed by a former employee online. The former worker said the data was posted on the Web for all to see. The company disagrees. [Computerworld News] Looks like Kaiser needs to get someone on damage control and crisis management REAL fast.  This woman has a decent case for whistleblower protection and instead of trying to trying to send their time talking about how she is disgruntled, they need to deal with the issue she is bringing up.   Doesn't anyone remember the Johnson and Johnson Tylenol strategy anymore? You'd think they would given today's climate, drive toward transparency and of course, the blogsphere. 8:31:26 PM    comment [] Sarbanes-Oxley delays Cray's annual report. Problems related to the financial accountability rules will hold up release of the report, the supercomputer company says. [CNET News.com] Interesting.. wonder how many other companies will blame SOX.  Strange, not like they didn't know it was coming since the law was passed, what, TWO years ago??  And, those processes were supposed to be clean under SEC rules prior to that anyway. 8:28:59 PM    comment [] Big Bummer for Bernie. "I didn't do it," doesn't work for ex-WorldCom czar Bernie Ebbers. [The Motley Fool] 8:43:04 AM    comment [] Lessons from Bernie Ebbers. WorldCom's CEO has been convicted of fraud, so what can we do to make sure it doesn't happen again? [CNET News.com] 8:33:06 AM    comment [] Ebbers conviction - 'victory for individual responsibility'. See ya, don't wanna be ya [The Register] "Twenty thousand people lost their livelihoods because of Ebbers' greed. Ordinary people lost $600m from their pensions plans because Ebbers did not have enough houses, boats or automobiles. This is a victory for individual responsibility, which has been significantly eroded in our society. The largest financial fraud in American history didn't just happen. It resulted from the specific actions of specific individuals, who are now being made accountable." More good stuff!!! 7:58:56 AM    comment [] Elite Deviance When the Top Seat Is the Hot Seat. Another one down. How many more to go?. By By KURT EICHENWALD. [NYT > Business] Let's hope all of them.  When are these guys going to learn that getting the reward also means that you have to be accountable to the numbers and business practices to get there? If juries and shareholders (non institutional types that is since the institutuional types aren't going to respond to business ethics at all) continue to send the message that taking a role like CEO or a seat on the Boards means that you also have to step up to it and actually do the job, we could just end up in a better place. 7:56:33 AM    comment []

© Copyright 2005 Judy Smith. Last update: 4/22/2005; 5:19:27 PM.