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The temperature may have officially reached the high 80s yesterday afternoon in Washington, D.C., but we bet it was significantly hotter in room 2167 of the Rayburn House Office Building. That’s where the SEC’s Chairman, Mary Schapiro, and its Inspector General, H. David Kotz, were in the hot seat to answer questions for the Congressional [...]
Philosopher and writer George Santayana said, “Those who cannot remember the past are condemned to repeat it.” It’s hard to fathom that people are already forgetting what caused our economic crisis (the conclusions of the bi-partisan Financial Crisis Inquiry Commission are here), but some members of Congress make us wonder about that. We listened to a telephone news conference [...]
Forget about the usual boring office gift exchange where you wind up with a $25 gift certificate to some restaurant you’d never set foot in. The SEC has decided to give AOL (AOL) and, by extension, Google (GOOG) something much more valuable: it’s the gift of silence. Yesterday, five separate Confidential Treatment orders (in SEC [...]
This morning, Green Mountain Coffee Roasters (GMCR) is taking a dive — it’s down about 16% right now. The reason? Yesterday, after the market closed, Green Mountain put out this 8-K that contained several different disclosures, including this one at the very end: On September 20, 2010, the staff of the SEC’s Division of Enforcement [...]
Now that Dell (company and founder alike) has settled with the Securities and Exchange Commission, no doubt investors and management will forge ahead. But we want to take one moment to look back — not to the sordid accounting gimmicks and misleading disclosure laid out in the SEC’s case, but rather to Dell’s disclosures about [...]
