From the New York Times: In the ongoing Comverse Technologies options backdating saga, two ex-officials are in negotiations for a guilty pleaBack to the academic salt mines. Today's a writing day, since I'm giving exams. Unfortunately, tomorrow I'll have to grade them.
The Cheesecake Factory reports that expenss related to their review of possible options backdating cost them $1.2 million.
The Justice Department is investigating the possibility of collusion in the private equity market. The New York Times' Dealbook discusses it here, and the Wall Street Journal here. Larry Ribstein (as usual) asks some interesting questions here.
Herb Greenberg of Marketwatch.com has some suppositions why short selling has become more difficult.
Marshall Loeb goes through the basics of how to write an effective complaint letter.
Mark Hullbert reports that sales by corporate insiders remain low following the recent market highs - a bullish indicator (hey - I taught this stuff last night).
Sam Antar (former CFO of Crazy Eddie's) is in favor of Sarbanes Oxley. C lick here to hear his views. It's an interestign perspective because he (and several other executives of the company) were convicted in a well known case of stock fraud.
And finally, here's a letter I'd like to give all students.
But it's still much better than any other job I've had. So I don't have much to complain about.