Topic: Enron Corporation

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Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
Seven retirement questions you need to answer

Retirement planning isn't easy. Nearly half of Americans don't feel financially prepared to live to age 75, according to a survey from Northwestern Mutual. But the process is a lot less burdensome if you break the task down into simpler parts. Here are seven questions to ask as you plan for your long-term financial security in retirement.
Top 5 insider trading convictions

Raj Rajaratnam, a wildly successful hedge fund manager, was sentenced and fined Oct. 13 on fraud and conspiracy counts for using insider information to make more than $50 million. Prosecutors called it the largest insider-trading case ever for a hedge fund. So how does his conviction stack up against other insider traders in the United States who were found guilty? Here's a look at the Top 5 convicted insider traders:
Gallery: CEO exits
Gallery: Top 10 longest-serving US senators

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Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
Seven retirement questions you need to answer

Retirement planning isn't easy. Nearly half of Americans don't feel financially prepared to live to age 75, according to a survey from Northwestern Mutual. But the process is a lot less burdensome if you break the task down into simpler parts. Here are seven questions to ask as you plan for your long-term financial security in retirement.
Robert Reich
Citigroup shareholders revolt. Will CEO pay drop?

Citigroup's shareholders have said no to an exorbitant pay package for the bank's CEO, and why shouldn't they? Executive pay across American companies has ballooned to unacceptable levels, without the performance to back it up.
Voters and their state's ethical fitness

An extensive probe of 'corruption risk indicators' by a team of journalists shows that most of the 50 states don't reflect voter demands for integrity in official conduct.
JOBS Act: Why are Democrats suddenly raising red flags?

No one wants to vote against jobs, but a wide swath of critics – ranging from the SEC, the AFL-CIO, and pension funds – worry that features in the proposed JOBS Act could hurt investors.
Rod Blagojevich, second Illinois governor headed for prison (+video)

Rod Blagojevich got on a flight for Colorado Thursday morning. By this afternoon, Blagojevich will trade his Oxxford suit for prison khakis
Robert Reich
The GOP is confused about public morality

The real threat to American morality is what's happening in corporate board rooms, not people's private lives.
WikiLeaks publishes Stratfor e-mails. What's in them?

An initial survey of the Stratfor e-mails published so far on the WikiLeaks website reveals not so much a corporate CIA as a geopolitical version of the comedy 'The Office.'
Robert Reich
The Republican weapon of mass cynicism

77 percent of Americans mistrust the government. But a lack of faith is bad for all of us.
The Vote
What's Sarah Palin going to say in her big speech on Saturday?

Indications are that Sarah Palin will sound increasingly like a presidential candidate at the Iowa tea party rally, with barbs aimed at both GOP rivals and Obama. But a formal declaration is apparently not in the offing.
Google falters in its ad screening

In an agreement with the Justice Department, Google admits it knowingly allowed ads for prescription drugs from Canada to be targeted at US consumers. This slip of integrity – costing it $500 million in fines – raises questions about Google's culture.
Dow drops 1,147 points over three trading days. Is that a 'crash'?

The Dow has lost 9.13 percent of its value over three days of trading. It's bad, but investors have seen much worse in previous sell-offs. Still, 'crash' versus 'correction' is a matter of debate.
Will Rupert Murdoch's woes cross the Atlantic?

Rupert Murdoch's troubles in the UK could spread throughout his global media empire, say experts. A lawsuit filed Monday in Delaware may be just the beginning.
Top 5 insider trading convictions

Raj Rajaratnam, a wildly successful hedge fund manager, was sentenced and fined Oct. 13 on fraud and conspiracy counts for using insider information to make more than $50 million. Prosecutors called it the largest insider-trading case ever for a hedge fund. So how does his conviction stack up against other insider traders in the United States who were found guilty? Here's a look at the Top 5 convicted insider traders:
Robert Reich
'Job-killing' rhetoric is a distraction

Talk in Washington of ending 'job-killing regulations' isn't helping the US create any more jobs.
When manipulation gets out of hand

China's currency issue and a popular play about the Enron debacle have the Monitor's language columnist thinking about the link between managing and manipulating.
The Reformed Broker
Through the short-seller's looking glass

It helps to understand the effect of this takeover-laden environment on the psychology of the short-seller.
What's the best way to create more jobs?

With unemployment still hovering near 10 percent, politicians are scrambling to push policies they think will create jobs.
Case in Point
Corporate disgrace and the magic of candor

When corporations run into trouble, candor is the way to win back public trust.
Gallery: CEO exits
Sarbanes-Oxley provision ruled unconstitutional

Sarbanes-Oxley's national board that monitors auditors of public companies violates the Constitution's separation of powers requirement, the Supreme Court ruled Monday.
Supreme Court rules for president in separation of powers case

The Supreme Court ruled Monday that a board overseen by the Securities and Exchange Commission operated under rules that violated the Constitution's separation of powers clause.
Gallery: Top 10 longest-serving US senators
Second Amendment ruling eagerly anticipated from the Supreme Court

Second Amendment ruling will be handed down today as the Supreme Court has its last meeting until the fall.
Supreme Court ruling boosts Enron executive Jeffrey Skilling

The US Supreme Court narrowed the definition of 'honest services' fraud, throwing out a portion of Enron CEO Jeffrey Skilling’s conviction. It’s a blow to the Justice Department.