Category Archives: News and Events

Describes new books, articles, and upcoming speeches.

Audit Partner at KPMG Sentenced to One Year and a Day for PCAOB Scam

David Mittendorf, the second-in-command for KPMG’s audit practice, said at the sentencing hearing that “never in my wildest imagination” did he think that obtaining the names of those KPMG clients that the Public Company Accounting Oversight Board (PCAOB) was targeting … Continue reading

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“I know this salesman is a crook, but we make more money letting him steal from us than we would from somebody who is honest.”

A supervisor offered this rationalization. What had happened is that auditors had discovered that a salesman was was submitting to have three meals per day reimbursed by the company. The salesman always billed $24.99 for each meal, just below the … Continue reading

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We (ne “We Work”) Postpones IPO

Finally, investors are taking to heart the lessons of the dot-com bubble. Following questions about We’s truth net worth and its corporate governance (documented here last week in what is curtly, but accurately described as, “Conflicts galore!”), the IPO has … Continue reading

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Michigan State to Pay $4.5 Million Federal Fine for Failure to Investigate Allegations

Michigan State has settled with the U.S. Department of Education for its failure to report and address claims of sexual abuse by Lawrence G. Nassar. Dr. Nassar was the physician for the USOC WOmen’s Gymnastic Program. He is in prison … Continue reading

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The We (ne “We Work”) Conflicts

With a public offering pending, We had to come clean on the types of relationships (aka conflicts) that are no-no’s in publicly trade companies. Here is a summary: CEO Adam Neumann — We purchased the trademark “We” from Neumann for … Continue reading

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Novartis and Data Manipulation on $2.1 Million Gene Therapy?

Novartis, one of the world’s largest pharmaceutical firms, is under FDA investigation. Novartis stock is taking a tumble because the company withheld data from the FDA in its application for approval of a gene therapy treatment for spinal muscular atrophy. … Continue reading

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Tailhook Deja Vu

Well, here we go again. The Navy parties hardy, as we learned from the Tailhook days, but have obviously forgotten. The Navy terminated the three leaders of SEAL Team Seven (known as the triad) for their failure in leadership. The … Continue reading

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Trust Lost: Mechanic Charged with Sabotaging an American Airlines Flight

American Airlines mechanic, Abdul-Majeed Marouf Ahmed Alani, who has worked for AA since 1988, was upset about contracts negotiations for the mechanics’ union. The negotiations have dragged on since 2015, and Mr. Alani felt that the failure to reach an … Continue reading

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Tennis Players Gaming the System

The human mind has no limitations when it comes to figuring out ways around rules. Enter the game of tennis. The Women’s Tennis Association (WTA) and Association of Tennis Professionals (ATP) are in the process of developing and changing the … Continue reading

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USC Spreadsheets Tracked Applicants by Their Relationship to Donors and the Amounts Each Donor Gave

The e-mails are bad enough, “Long-time donors,” $25K to Heritage Hall,” and $15 mil.” The athletic department was using its special admits slots to help the university with its donors. So, the folks gaming the system for admission were not … Continue reading

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Ohio State Medical Board Had Evidence in 1996 of Dr. Richard Strauss’s Sexual Abuse of Ohio State Students: No Action

A quote from the review panel report, requested by Ohio Governor Miek DeWine, just released on Friday: “Documented systemic failures at both The Ohio State University and State Medical Board of Ohio prevented any tangible administrative or criminal consequences from … Continue reading

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More Gaming the System in Online Reviews

There is an inherent conflict of interest between travel review sites and the targets of those reviews. Travel review sites depend upon those being reviewed for their revenue. So, when those who pay the site ask that a negative review … Continue reading

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Candid Glassdoor: Are Employers Manipulating the Site?

The Wall Street Journalconducted a study of Glassdoor’s site. Glassdoor is a site that permits employees (current and former, happy and disgruntled, short- and long-term) to post feedback on their companies. Employers can then respond to that feedback. The WSJ … Continue reading

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Attempts to Hide Bad Water: How Many Times Must We Live (Maybe) Through This

The story of the Flint, Michigan unfolded as follows: April 2014 – Switch from Detroit to Flint system; no corrosion control testing May 2014 – complaints from residents about the water August 2014 – E.coli and coliform bacteria found in … Continue reading

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