Pre-vacation filing frenzy?

July 27, 2007

images7.jpegIt’s hard to know whether the flurry of press releases coming out of the SEC over the past few days is due to a pre-vacation rush (after all, Congress takes most of the month of August off) or some sort of end of the month quota — you know, like the one that cops are rumored to have when it comes to tickets. Yesterday, the SEC issued six releases. That’s on top of the four on Wednesday and three on Tuesday.That seemed like a lot of us, but we wanted the evidence. So we asked our friends at Knowledge Mosaic to crunch the numbers and it turns out there’s only been two other six-release days in the 10 years that Knowledge Mosaic reviewed. And both of them have been under the reign of Chairman Chris Cox, who used to be a former Congressman, so perhaps he’s also taking an August recess.

The releases tie up old problems, like those at Cardinal Heallth (CAH) and ConAgra (CAG), and also deal with newer things, like the merger between the NYSE and the NASD.

Of course being the investigative journalists that we are, we decided to ask SEC spokesman John Heine and told him that as long as he was coming up with an answer, he should make it funny. Heine promised to consult with his colleagues, whom he said were much better at joking around. When we hear back from him, we’ll post his response. Here’s what he said: “When there’s news, we put it out,” which isn’t particularly funny, but it was the best he could do.

Then again, maybe it’s all part of the lead up to the fifth Anniversary of Sarbanes-Oxley on Monday. Speaking of which, if you haven’t seen this video by the folks behind the Audit Trail blog, it’s pretty funny.

Leave a Reply

You must be logged in to post a comment.