Monthly Archives: August 2020

Teva: The Pharmaceutical that Could Not Reach a Justice Department Deal

Teva, an Israeli-based pharma, has quite a market in generic drugs for high cholesterol, blood clots, and skin conditions. However, in an indictment filed by the Justice Department last week, Teva is accused of engaging in price-fixing and bid-rigging with … Continue reading

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International Honesty in Data

The World Bank publishes a report called, “Doing Business.” The report ranks countries according to their regulatory environments. Countries can improve their rankings by reducing bureaucratic burdens on starting a business and expanding access to electricity. However, since 2018, everyone … Continue reading

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Honesty in Data and Its Presentation

The COVID-19 virus has certainly had its share of controversy. Lack of honesty in presenting data to the public does not help. One of the more blatant misrepresentations was uncovered in Kansas through a freedom of information request made by … Continue reading

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Wirecard: The $2 Billion in Cash That Did Not Exist

“Tis quite an accounting error at the German company, Wirecard. The company’s value went from 13 billion (Euro) in June2020 to 200 million (Euro) in August 2020. Wirecard owns a bank and does payment services and suspicions about fraud had … Continue reading

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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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