They're hoping we'll forget all about them. Not damn likely. Huffington kicks off a good list here, with the following miscreants: --Jack Grubman, former head telecom shill at Salomon Smith Barney. Aka "The Bruce Springsteen of telecom." Wanted for: securities fraud; producing misleading stock analysis; betraying the trust of investors nationwide; and upgrading his rating of AT&T stock in an effort to help get his kids into the Harvard of Manhattan nursery schools. All while pulling in a cool $20 million a year. Warning: Grubman is armed with stacks of overblown research reports and should be considered extremely dangerous to your financial well-being. --Ken Lay, former chairman and CEO of Enron. Aka "Kenny Boy," "The poster child for cash-and-carry government," and "One of the Top 25 Wealth Creators of the last quarter century." Wanted for: cooking the books; cashing in $100 million in Enron stock in the year before the company collapsed, costing 5,000 employees their jobs; urging employees to invest their hard-earned money in Enron stock even after he'd been warned that the company was about to "implode in a wave of accounting scandals;" and overseeing a company that avoided paying any taxes in 4 of its last 5 years by creating 881 offshore subsidiaries. Hide-outs: Jus' Stuff, the secondhand store his wife opened to unload some of her pricey baubles. Known associates: fellow Enron Gang members Jeff Skilling and Andy Fastow, "good friend" George W. Bush, and the dozens of politicians who gladly accepted campaign contributions from Lay and Enron. Warning: considered dangerous and psychopathically indifferent to the suffering of others. Didn't hesitate to stab thousands of Enron workers and investors in the back or "turn out the lights" on millions of powerless Californians. Approach with extreme caution. --Sandy Weill, Chairman and CEO of Citigroup. Aka "The King of the Deal," "Wall Street's Highest Paid Executive." Wanted for: raking in close to $1 billion in stock option gains while overseeing a company that helped Enron defraud shareholders to the tune of $4.8 billion; rigging the IPO market; predatory lending; and falsely boosting the value of a host of tech stocks in an effort to land more business for its investment banking division. Warning: considered loaded and lethal. According to a secret e-mail uncovered by Eliot Spitzer, Weill won a Citigroup power struggle by getting Jack Grubman to help him "nuke" a former boardroom nemesis. If provoked, might be willing to use such weapons again. --Richard Cheney. Aka "Dick" and "Mr. Vice President." Former CEO of Halliburton, currently Vice-president of the United States. Wanted for: serial use of offshore tax shelters; overstating Halliburton revenue by $100 million; doing $73 million worth of post-gulf war business with Saddam Hussein, then denying it; overseeing Halliburton's consistent overbilling of the Pentagon (a habit that led to $2 million in fines); helping to systematically gut decades-worth of environmental protections; and fighting tooth and nail to keep secret the records of his very-energy-industry-friendly energy task force. Identifying marks include a distinctive sideways smirk, and an implantable cardioverter defibrillator (a device the size of an electronic garage door opener) embedded in his chest. Hide-outs: his secure, undisclosed location and GOP fundraisers. Known Associates: Ken Lay, anyone with a campaign donation for the GOP, and little buddy George W. Bush. Warning: considered armed to the teeth and extremely dangerous, especially now that the Bush administration has expressed a willingness to use "overwhelming force including nuclear weapons" if rubbed the wrong way. Do not try and apprehend the suspect on your own. Cheney has blithely shrugged off four heart attacks in the past -- what makes you think you can stop him? --Henry Blodget, disgraced Internet shill. Aka One of New York Magazine's people "who are inventing the world we'll be living in the next millennium." Wanted for: shameless Internet boosterism; regularly breaching his investment bank's Chinese wall; repeatedly lying through his teeth; and publicly placing Internet turkey Infospace on his "favored 15" list while privately referring to the company as a "piece of junk." All while pocketing $12 million a year. Warning: not content with earning millions while scrambling the nest eggs of trusting investors with his misleading stock analysis, Blodget now wants to further cash in on his nefarious deeds by penning a tell-all account of his years pushing Internet crap at Merrill Lynch. Avoid this self-serving -- and highly toxic -- claptrap at all costs. Add as appropriate: name, company, and criminal offenses...
Re: Just to give Mr. Archer conniptions... Um...and this is relevant to the overall theme of "Corporate Criminality" in what way, exactly? Just mildly curious.
Re: Re: Just to give Mr. Archer conniptions... Did you even click on the link? They're behind the "10 worst corporations" thing and do a lot of work exposing corporate malfeasance. Here's their 2001 list: http://multinationalmonitor.org/mm2001/01december/dec01toc.html
Re: Worst corporate criminals of 2002 Wow, written well before they backed over her and killed her...
Your list forgot to mention the Boogieman. And Captain Hook ought to get some recognition here. Isn't John D. Rockefeller still around somewhere? No? Well, there must be SOMEBODY named Rockefeller we can hate. Paging Ayn Rand. Your car is ready.
Re: Re: Re: Just to give Mr. Archer conniptions... See, when I click on the link in that post, I get a DIFFERENT left-wing conspiracy rant. The one I got was about how limiting juries from awarding $55 billion dollars to anybody who loses a toe is another Bush administration plot to help the rich and oppress the working man. I really enjoyed it, but I didn't see how it fit in with the OTHER left-wing paranoia.
HealthSouth continuing the list...HealthSouth's Scrushy: ABC News: Accused of running a huge scam to overstate HealthSouth Corp.'s earnings by some $2.5 billion since 1997, ousted CEO Richard Scrushy could be forced to pay $785 million or more if he loses a government lawsuit accusing him and the company of fraud. Bill Hicks, an attorney with the Securities and Exchange Commission, said Friday the agency could seek that amount from Scrushy for damages and repayment of ill-gotten gains. "It could go up if we find more insider trading or more profiting from the fraud," Hicks said in a telephone interview from Atlanta. If he is found guilty, I want his money and I want him to go to jail for life, without the possbility of parole...
The Boy who wanted more! Where is Oliver Tse when we need him? http//www.************edcompany.com has all the info on bad management that you will ever need. Who cares about minor details like Enron & Worldcom? The real corporate criminals are the ones who use our money (um, well, the money of the few people on bigsoccer who are actually employed and tax taxes) to build stadiums for basebore, the NBA and the Numerous Felons League: http://www.fieldofschemes.com
Coors Field was well worth the taxpayers expense, as anyone who saw the Lower Downtown area before Coors Field and how it stands now.
Call and hammer the following firms by moving your portfolio to another financial repository for the fact that they had to be FINED by the SEC for allowing undue influence by investment banking interests on securities research: Bear Stearns & Co. LLC - 383 Madison Avenue, New York, NY 10179. Phone: (212) 272-2000. Fax: (212) 272-4785. Email: ir@bear.com Credit Suisse First Boston Corp. - Paradeplatz 8, P.O. Box 1, Zurich, Switzerland. Phone: (800) 269-2377. Tel. +41 1 333 45 70. Email: gerhard.beindorff@ credit-suisse.com. Deutsche Bank - Taunusanlage 12, Frankfurt 60325, Germany. Phone: (212) 469-7125. Fax: (212) 469-7322.E-mail: db.ir@db.com Goldman Sachs - 85 Broad Street, New York, NY 10004 Phone: (212) 902-1000. Fax: (212) 902-3000. Email: gs-investor-relations@gs.com J.P. Morgan Chase & Co.- 270 Park Avenue New York, NY 10017. Phone: (212) 270-6000. Fax: (212) 270-1648. Email: marketing.and.communications@jpmorganchase.com Lehman Brothers, Inc. -745 Seventh Avenue New York, NY 10019. Phone: (212) 526-7000. Fax: (212) 526-3738. Email: sbutler@lehman.com Merrill Lynch & Co., Inc. - 4 World Financial Center New York, NY 10080. Phone: (212) 449-1000. http://www.ir.ml.com/comment.cfm Morgan Stanley - 1585 Broadway, New York, NY 10036 Phone: (212) 761-4000. Fax: (212) 761-0086. Email: genlfeedback@morganstanley.com. Salomon Smith Barney, Inc. Part of Citigroup. Business Address: 399 PARK AVENUE, NEW YORK NY 10043 Phone: 212-559-1000. http://www.smithbarney.com/help/contact/comments.html UBS Warburg LLC - Bahnhofstrasse 45, Zurich, Switzerland. Phone: (212) 713-3641. Fax: (212) 713-1381. Contact: http://www.ubs.com/e/index/contact/contact.html What's that you say? "That's damn near everyone???" True...
Like the little girl in the New Yorker cartoon would say, "I say it's Corporate Welfare and to hell with it." If Coors Field was such a triumph of capitalism, why didn't the Rockies' owner just build it himself and buy up all the surrounding land and build on it himself or lease it out to shops & restaurants? Oh, yeah; he was too busy running his trucking company into the ground & laying off hundreds of workers. Welfare is welfare. If welfare goes to an unwed mother, she might spend it in local stores or she may even take a class at the local community college. But when Welfare goes to the Colorado Rockies, all the money ends up in Florida where the players live so they don't have to pay state income tax. OK, so a little ends up with the local steroid dealers & strip clubs.
The thing I find the most humrous about the entire "newly discovered" wall street scandal is the whole finger pointing and manner in which this has all transpired in the last 2 years... These practices (mixing analyst motives w/I banking)have been occuring since the 1970's and when the market is in a bull market phase, everyone is making $$$ (firms and customers).. When the market poops out, everyone starts to cry and demand repurcusions.. I agree that the laws should be enacted, and the firms fined (I even work on wall street and still believe this), but it should have been done awhile ago in the 1980's. and it makes the SEC look stupid that they decide now slap the wrists of the firms, when they have been sitting on the sidelines watching this occur... I mean I was right out of college in the mid 90's and realised this was happening right from the start.. It is all a large cocktail party with all the reg. agencies, lobbyists, and firms are in bed with each other, laughing over the fines they have to pay, when they made many times over the amount in the last 15 years.... talk about staged..
I agree with much of this, but to submit that the argument over this type of thing began 2 years ago is intellectually dishonest; I mean, hell, how many hits will we get if we Google the S&L scandal, and that was how long ago? There has always been a tradition in American railing against the corporate whoring of the nation; that's how we got the pitiful little citizen-based protections we have (had) now...