Category: Uncategorized

New Zealand Goes for $250 Million Fraud

It sounds like a dose of Olympic fever. With big fraud arrests in Japan, Singapore and China, perhaps it was the competitive spirit that got New Zealand’s top fraud cop boasting about upcoming scores. Adam Feeley said there is a…

Fletcher Hedge Fund Flim-Flam Goes Bust

A hedge fund company called Fletcher International Ltd. is suing to stop three Louisiana pension funds from dismantling it during bankruptcy, selling off its questionable assets. If you are not an investor, you see it coming a mile away. Investors…

Lawyers Have “$1,000-an-Hour Club”

More lawyers joined “the $1,000-an-hour club” last year, as “partners in the top 25% of hourly billers boosted their average price to $873 an hour.” This is a 5x ratio compared to the lowest 25% who averaged $204 in 2011.…

$15 Million and Fired in Eight Months

A former Target marketing executive, hired last October to turn around old-line discount retailer JC Penney’s, was fired this week. Michael Francis had been a successful marketing executive at Target and came to Penney’s amid great expectations. As president he…

American CEOs Laughing at French CEOs

Recently inaugurated Socialist President Francois Hollande has been executive pay should not exceed 20 times the salary of the lowest-ranking employees for companies owned or partially owned by the government according to new rules. Now “France’s finance minister has declared…

Outrage Over $267 Million Bonus May Kill Merger

The planned merger of two of the world’s largest mining and commodity companies, Glencore International and Xstrata, is being threatened by the discovery Xstrata executives showered themselves with $267 million of company funds last month. The deal would create a…