Odds and ends…

oddsthumbnail.jpegIt’s been another one of those weeks here at footnoted, with so many filings that it’s been hard to pick and choose. So instead of just focusing on one or two, I thought I’d do a bit of “spring cleaning” and talk about some of the things that wound up in the footnoted net this week:

AGCO Corp. (AG) disclosed in the proxy it filed on Monday that it had received a comment letter from the SEC. But it was done in such a subtle way that it wouldn’t be too hard to miss it: the company disclosed that it had spent more on audit-related fees in 2007 to KPMG’s review of an SEC comment letter. Now, granted, a comment letter isn’t always a sign of a smoking gun. But a quick skim of earlier filings shows that AGCO does have a bit of history receiving SEC comment letters, including this one from 2005, and much the same way that most of us try to avoid our nosy neighbors, it’s clearly much better when the SEC is not asking questions.

Standard Pacific (SPF), which earlier this week found itself on Calpers list of worst five companies, decided to use that news to file this agreement with outgoing Chairman and CEO Stephen Scarborough. The agreement included $1.2 million in severance and company-paid health benefits through 2011. But the real prize came from the accelerated vesting of restricted stock and options and the generous time line that Scarborough was given to exercise those options.

There was also a new word added to the footnoted vocabulary this week: a true up, which surfaced in this filing from SPX (SPW). While the word wasn’t entirely new and does appear in several other company’s filings, SPX’s use of the word was certainly interesting because the company granted additional options “to “true-up” certain named executive officers for state tax increases incurred as a result of the relocation of SPX’s corporate headquarters to Charlotte, North Carolina.”

Finally, at a time when newspaper companies are struggling for their very survival, the $66K “housing allowance” that Washington Post Co. (WPO) spent to provide General Counsel Veronica Dillon with a place to live in Washington, seems like something straight out of the final season of The Wire.