Category Archives: News and Events

Bernie Ebbers, the former CEO of WorldCom, a company that was once the largest company in the U.S. (capitalization). Of course, that ranking assumed that the accounting was accurate. It was not — the company had $3 billion in accounting … Continue reading →

Wall Street Journal headline February 3, 2020, p. A3 Michael Sanchez, the brother of Lauren Sanchez, Mr. Bezos’s girlfriend, has filed a defamation suit against Jeff Bezos for allegedly claiming that he (Michael) leaked the suggestive photos of Mr. Bezos … Continue reading →

Rachel Louise Ensign and Ben Eisen, “Wells Fargo Wealth Advisers Struggle as Market Booms,” Wall Street Journal, February 3, 2020, p. B9 The report notes that Wells Fargo Wealth Advisers have grown client assets 12% since 2016. Bank of America … Continue reading →

Representative Martin Sandoval, 11th District in New York General Assembly, seemed to favor red-light cameras. We now know why. Representative Sandoval had accepted $250,000 in bribes from red-light camera companies. His wiretapped conversations with company representatives included tidbits such as, … Continue reading →

Right up there with “the dog ate my homework” is a new explanation from Amazon’s founder in the midst of a mid-life crisis, “The Saudis did it.” When suggestive text messages from Mr. Bezos to his girlfriend, Lauren Sanchez, showed … Continue reading →

Goldman Sachs has announced that it will no longer have companies with exclusively white male boards as going-public clients. Unless those clients are in Asia, Latin America, or the Middle East. Along with that, Goldman Sachs also announced that it … Continue reading →

Mr. Stumpf, who presided over the largest growth of bank accounts and services per customer in the banking industry, also agreed to pay a $17.5 million fine. The individual sanctions against a banker were unusual. Following the 2008 market and … Continue reading →

Dr. John Kapoor, the founder of Insys, who was convicted in May 2019 of conspiring to bribe doctors and defraud health insurers, was sentenced to 5.5 years in prison. The Chandler, Arizona-based company had a market value of $3.2 billion … Continue reading →

Let’s recap. In 2012 (April), former Best Buy CEO, Brian Dunn resigned (abruptly as the Wall Streeters say). The Board concluded that he had “an extremely close personal relationship” with a 29-year-old subordinate at the company that “negatively impacted the … Continue reading →

Matteo Sloane, in confronting his father, Devin Sloane, who entered a guilty plea to paying $250,000 to a USC account and a charity to have his son admitted to USC as a water polo recruit. Mr. Sloane responded, “I lost … Continue reading →

A Boeing employee weighing in via e-mail on the pretense his company was creating that no additional training was necessary for pilots on the redesigned Boeing 737MAX with its Maneuvering Characteristics Augmentation System (MCAS). MCAS was the term used inside … Continue reading →

It remains unclear to the Barometer why employees feel free to spout off in e-mails. Feel free to schedule meetings, ask questions about shipments, and even grouse about the break room mess or someone swiping your lunch from the fridge. … Continue reading →

Enough said. Cheating.

David Drummond, chief legal officer for Alphabet (Google, we’re talking about Google here), will be departing the company after 20 years. Mr. Drummond filed the company’s original articles of incorporation as an attorney with the law firm Wilson Sonsini. He … Continue reading →