... DIRECTOR, DIVISION OF CORPORATION FINANCE, SECURITIES AND EXCHANGE C... proceeds -- proceeds that he owed to investors in his fund. On March 3rd, the SEC charged the for...Chairman. First, the Democrats had the House and the Senate for fo..., and it includes the enterprises that create jobs. And the SEC has a crucial providential role in as...
As I move on from the Colorado Springs Regional Economic Development Corporation (EDC), I would like to take a few moments to reflect on the place where I have spent much of my life, the place where my kids have grown up, the place I will always consider special. While we have lived here nearly 14 years, my view is from the CEO position I held in the EDC where I worked for the past ten years, six as CEO. We (the EDC team of first class ED professionals, board, volunteers, partners and investors) have achieved much over the past six years, despite the challenges of the great recession. Our focus has remained on the urgent need to attract and retain quality jobs in a community with so many unemployed.
This article examines the federal government's growing use of 18 USC § 1346 to prosecute public company executives for breaching their fiduciary duties. Section 1346 is a controversial but under-examined statute making it a felony to engage in a scheme "to deprive another of the intangible right of honest services." Although enacted by Congress over twenty years ago, the Supreme Court repeatedly declined to review the statute, until now. The questions before the Supreme Court are of particular interest to public company executives and their professional advisors. Traditionally, Delaware law has governed the content and enforcement of executives' legal duties, largely protecting public company fiduciaries from civil liability. Now, with the emergence of honest services fraud as a weapon ...
... examine the honest services statute for the first time comes as criticism of the law-and, more broad... their firms but also jeopardizes investors' confidence in public companies, financial institu... their fiduciary duties to the corporation. As the civil law has developed over time, private... "doled out thousands of city civil service jobs based on political patronage and nepotism."337 Amo...
In July 2008, bankruptcy courts across the US prepared themselves for a busy season. As many as 5,664 companies sought to liquidate or restructure that month alone, a 57% increase from the prior year. This Note looks behind the shield of D&O insurance and examines its treatment under the Bankruptcy Code. Part I provides an overview of the duties of directors and officers of a corporation, as well as the protections they receive under the business judgment rule and indemnification contracts. Part II explains the three different "sides" of D&O insurance policies. Part III discusses basic bankruptcy concepts including directors' and officers' duties in bankruptcy, automatic stay, and property of the estate provisions of the Code, as well as the treatment of contracts in bankruptcy....
...: "People want to know if you defrauded investors."5. Fraud, greed, and deception are common accusat... typically applies in two situations: first, where the corporation does not indemnify its dire... to operate, provide its employees with jobs, pay its creditors, and provide a return for its s...
...Image management is essential to corporations and other organizations, particularly in crisis si.... The first purpose of this paper is to discuss the importance..., communication professionals, and investors concerning the types of responses firms may offer ... stated that Citibank planned to cut 10,000 jobs. An internal memo to Citi employees from the Citi ...
Corporate law theory and practice considers shareholder relations with companies and the implications of ownership separated from control. Yet through the Troubled Asset Relief Program (TARP) bailout and the government's resultant shareholding, ownership and control at many companies have merged, leaving corporate theory and practice for the financial and automotive sectors in chaos. The government's $700 billion bailout is a unique historical event; not merely because of its size, but also because of a resulting ripple through corporate scholarship and practice. This article builds on the author's five testimonies before Congress during the financial crisis and implementation of the TARP bailout and his consultation for the Special Inspector General for TARP. After considering corporat...
...Walter Bagehot, first Editor-in-Chief of The Economist, 1873(1). Introdu...Over that time, the expectations of investors, managers, and regulators have enjoyed a dance of ... from federal securities law and state corporation law. The presence of a control shareholder in publ... homeowners who have recently lost their jobs and are more than sixty days behind on their mortg...
In recent years foreign direct investment in developing nations has come under threat by government policies seeking to expropriate or nationalize the assets of foreign corporations. A variety of political and economic motivations have given rise to expropriation activities. This paper examines both the political, economic and legal basis underpinning these expropriation activities and outlines a corporate risk management strategy designed to confront these emerging political/economic threats.
... to provide potential corporate investors with assurances against future confiscation of cor... Bank of New York & Trust Company, 1987; First Fidelity Bank, N.A. v. Antigua and Barbados Perman... provision of training opportunities, secure jobs and good salaries to local workers. By providing w...
The movement began in the early 1990s in Baltimore, where a community-labor coalition called BUILD mobilized a successful grass-roots campaign to pass the nation's first "living wage" law in 1994, requiring companies with municipal contracts and subsidies to pay employees decently. [...] more than 100 cities have followed suit. A coalition of unions, community organizations, immigrantrights groups, churches, tenant activists, and environmental organizations-led by the Figueroa Corridor Coalition for Economic Justice and the Los Angeles Alliance for a New Economy (LAANE)-were ready when the developers pursued a second phase that included a 250,000-square-foot expansion of the convention center, two hotels, a 7,000-seat theater, restaurants, nightclubs, retail shops, and two apartment b...
... on economic growth, allowing private investors and developers to dictate the terms. Even those sy... visitors bureau to create a nonprofit corporation, Team San Jose, that manages the city's Convention...
... in the United States fell by 21% in the first year of the Great Depression and declined from its... of return on corporate paper fell, investors sought higher returns elsewhere--mainly in the sto... agency that would provide taxpayer-financed jobs for some 3.5 million able-bodied Americans; the So..., focusing on the Home Owners' Loan Corporation, which was the primary conduit through which the f...
Vermont's housing shortage hasn't really changed much," admits John Fairbanks, publicity affairs manager for the Vermont Housing Finance Agency. "Homes for sale are staying on the market longer than they have in the past." And though prices have stabilized, they haven't exactly plummeted. That's because, Fairbanks suggests, "We're still very much a destination place where people want to live . . . We continue to see a supply of homes for purchase and rent, but the problem remains that a lot of Vermonters work at jobs that pay modest wages. From 1998 to '06, home prices basically doubled, but wages did not, so even though purchase prices have leveled off, incomes have not caught up. CHT is a nonprofit that evolved two years ago from the merger of the Burlington Land Trust and the Champ...
... great time to buy a home - particularly for first-timers - if they have good credit, demonstrable in... and the Champlain Housing Development Corporation. Its mission is to find and preserve "perpetually ..., the house becomes more affordable to investors over time," Donnelly says. CHT's award-winning mod...
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