GLG News by Sarbanes-Oxley Specialists

Ronald KiimaPresident Kiima Incorporated

APPLE: JOBS KNEW ABOUT STOCK OPTION BACK DATING

October 9, 2006

Analysis of:Apple Computer, Inc.'s Form 8-K dated October 4, 2006 | www.sec.gov

Apple Computer today (October 4, 2006) acknowledged that its Founder/CEO Steve Jobs was aware of certain instances of stock option backdating prior to fiscal 2003. While likely to be sanctioned by the SEC, I currently believe, as a former SEC Assistant Chief Accountant, that Jobs will likely be able to retain his director and officer roles.

Ronald KiimaPresident Kiima Incorporated

BARNES & NOBLE – STOCK OPTION BACKDATING INVESTIGATIONS

August 30, 2006

Analysis of:DOJ Subpoenas Barnes & Noble | www.cfo.com

Barnes & Noble acknowledges that it is the subject of civil and criminal investigations of possible stock option backdating violations by the U.S. Securities and Exchange Commission (“SEC”) and U.S. Attorney for the Southern District of New York (“DOJ”), respectively. Any stock analysts that follow Barnes & Noble must hope for the best but prepare for the worst!

Ronald KiimaPresident Kiima Incorporated

KB HOME – STOCK OPTION BACKDATING INVESTIGATION

August 30, 2006

Analysis of:SEC Probing KB Home | www.cfo.com

KB Home acknowledges that it is the subject of a civil investigation of possible stock option backdating violations by the U.S. Securities and Exchange Commission (“SEC”). As with similar stock option backdating investigations of other companies, the SEC’s investigation will likely trigger a corresponding investigation by the U.S. Department of Justice (“DOJ”). Thus, any stock analysts that follow KB Home must hope for the best but prepare for the worst!

Ronald KiimaPresident Kiima Incorporated

MOLEX: Not Again!

August 21, 2006

Analysis of:Molex Executives Agree to Repay Gains on Options | online.wsj.com

Molex’s recent admission to misdated stock options would seem to indicate that its corporate governance and internal controls still leave much to be desired.  Accordingly, stock analysts need to seriously look beyond the metrics! 

Ronald KiimaPresident Kiima Incorporated

SEC BARS MARTHA STEWART FROM BOARD ROOM & CEO ROLE

August 7, 2006

Analysis of:Martha Stewart and Peter Bacanovic Agree to Settle SEC Insider Trading Charges | www.sec.gov

Among other civil sanctions imposed by the SEC, Martha Stewart is barred for five years from serving as a director, CEO or CFO for any public company, including Martha Stewart Living Omnimedia Inc. (NYSE: MSO).

Ronald KiimaPresident Kiima Incorporated

OPERATING CASH FLOW MANIPULATION VIA ACCOUNTS PAYABLE

July 28, 2006

Analysis of:Fast Payments Hurt Tech Firm Cash Flows | www.cfo.com

Accounts payable practices have served as the most commonly used legal means of steering into (i) the cash and cash equivalent balance to be reported in a pending balance sheet and/or (ii) the cash flow provided by (used in) operating activities to be reported in a pending statement of cash flows. Analysts must be attentive to this long-standing practice of “window dressing” and adjust for it accordingly in their respective models.

Ronald KiimaPresident Kiima Incorporated

SEC LIKELY TO PASS ON PAST INCIDENTS OF STOCK OPTION SPRINGLOADING

July 24, 2006

Analysis of:Speech by SEC Commissioner Atkins:Remarks Before the International Corporate Governance Network 11th Annual Conference | www.sec.gov

As a former Assistant Chief Accountant in the SEC’s Division of Corporation Finance, I have expressed publicly over the last few months my belief that it is “more likely than not” that the SEC will substantially pass on historical incidents of stock option springloading. The recent public comments of SEC Commissioners Glassman and Atkins seemingly validate my suspicion that they will align with Chairman Cox, as a Republican majority voting block, and opt for a prospective remedy to springloading.

Ronald KiimaPresident Kiima Incorporated

MANY “OPERATING” LEASES TO GO ON THE BOOKS…ITS ABOUT TIME!

July 20, 2006

Analysis of:Up for Overhaul: Lease Accounting | online.wsj.com

If they do not already do so, analysts need to begin proactively adjusting their models to reflect the assets and liabilities underlying “operating” leases onto the books of the companies they follow. It is no longer a question as to whether many current operating leases will go onto the books, its merely a question of when and how many!

Ronald KiimaPresident Kiima Incorporated

Directors' Wallets Increasingly At Risk!

July 7, 2006

Analysis of:Mercury Gets Warning of Possible Charges | online.wsj.com

As a former Assistant Chief Accountant in the SEC’s Division of Corporation Finance, I believe that members of the boards of directors of U.S. public companies have always been potentially at risk for civil sanctions. The real news is that beginning with Enron the SEC has increasingly insisted as part of any settlements with directors that they agree not to request indemnification from the company or its insurers for part or all of the imposed civil monetary sanctions.

Dwight CrawleyChief Financial OfficerKENCO LOGISTIC SERVICES, INC.

Specialty retail turnaround

July 6, 2006

Analysis of: A Casual Turnaround | www.cfo.com

Turning around a specialty retail like Casual Male Retail Group requires focus on cash flow, reducing cost and most importantly finding a way to grow revenue.  As this case example shows investing in CRM systems to better target customer needs, can result in revenue and profit growth.

Previous Page : 1234Next11 to 20 of 32