Sunday, June 18, 2006

Backdating stock options being investigated

Backdating scandal expands
Tougher regulations expected to restrict how stock options fit within executive compensation
- Carolyn Said, Chronicle Staff Writer
Sunday, June 18, 2006


Is it Enron all over again?

The stock-options backdating scandal continues to metastasize. Almost every day, reports come to light of yet another company under scrutiny for possible rigging of stock-option awards to executives.

About four dozen companies, including 17 in the Bay Area, are now under investigation to determine whether they retroactively changed option award dates to a time when the stock price was low, thereby padding the value of the options.

An option gives a person the right to buy stock in the future at a fixed price -- usually the price on the date the option is granted. The more the stock rises, the more the option is worth.

By selecting award dates when company stock prices were at or near their lowest, backdated options come with built-in profits for recipients. That undercuts the main intent of stock options: to motivate executives to increase the company's stock price.

Read the entire story here.


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Laptop Stolen from DC Home -Again?

It seems that the thieves are not after money but after the most important number for a man-his social security number.

Here is the except of the news fron Washington Post.

Laptop Stolen From D.C. Home
Computer Had Social Security Numbers of 13,000 City Workers, Retirees
By Lyndsey LaytonWashington Post Staff WriteSunday, June 18, 2006

A laptop containing personal data -- including Social Security numbers -- of 13,000 District workers and retirees was stolen Monday from the Southeast Washington home of an employee of ING U.S. Financial Services, the company said yesterday.
ING, which administers the District's retirement plan, known as DCPlus, notified the city about the theft late Friday.

Read the entire news here.

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Thursday, June 15, 2006

TOM CRUISE, FORBES NUMBER ONE ACTOR CELEBRITY

Cruise returns to the No. 1 position on the Forbes Power 100, a post he held five years ago, thanks to a combination of his awesome earnings from "War of the Worlds" and the media onslaught following his pairing with actress Katie Holmes. He also generated tons of ink with his couch-jumping antics on "Oprah," his outspoken criticism of the pharmaceutical industry and, of course, his new baby, Suri. Love him or hate him, Cruise is Hollywood's most bankable actor.

Read it here.

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GOOGLE LAUNCHES GOVERNMENT SEARCH SITE

From Washington Post
Thursday, June 15, 2006
Google is launching government search site
Excerpt of the news:


It's finally happening: The ever-expanding Google Inc. is making its move on the federal government.Today the company plans to announce a new online product aimed at being a one-stop shop for searching federal government Web sites. The launch of Google U.S. Government Search, http://usgov.google.com/ , targets federal employees who often need to search across several government agencies.

The site is also designed to help citizens navigate convoluted pages of
government-speak and tailors news feeds to their interests. Users can
customize the layout of their page to remain updated on government-related
news from official and commercial sources, including the White House,
Department of Defense, The Washington Post and CNN. Google is also
working with agencies to increase the frequency of news updates to keep
content current.

Read the entire news.



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