John Davis, CEO of Northwest Patient Resource Center, runs two medical marijuana dispensaries in Seattle. In Washington state, Davis runs a legal enterprise that generates thousands of dollars each quarter in state tax revenues. However, since selling pot is still a federal crime and banks are regulated by the Federal Deposit Insurance Corporation, banks are… Read more »
Posts Tagged: ethics
Shareholders – 1; Corporations – 0; SEC – Tie Breaker
This year’s proxy season is showing signs of greater activism by shareholders. The proxy advisory service Institutional Shareholder Services is projecting that there could be as many as 17 contests for the election of directors, which is slightly up from last year. The difference is that the contests are much bigger and include six at… Read more »
Just helping a friend
On Thursday, April 4, federal prosecutors and the Securities and Exchange Commission filed criminal and civil charges against fired KPMG accounting partner Scott London for conspiracy to commit securities fraud through insider trading. The accountant provided confidential information about KPMG audit clients Herbalife Ltd., Skechers USA Inc., Uggs maker Deckers Outdoor Corp., RSC Holdings and… Read more »
The Saga of Derek Jeter and Taxes
When I saw that Derek Jeter was in the news this week for changing residences from New York to Florida to lower his taxes, it made me wonder about what ever happened to Christian Lopez. Christian, a 23-year-old cellphone salesman from Highland Mills, N.Y, was the fan that caught Derek Jeter’s 3,000th hit and returned… Read more »
The Loophole
About 12 million borrowers turn to payday lenders each year. According to a new study by the Pew Charitable Trusts, only about 14 percent of borrowers can afford to take enough out of their monthly budget to repay the average payday loan. While 15 states that have banned the predatory, high-interest loans that payday lenders… Read more »
What’s Martha Stewart Doing in Court Again?
In the latest Martha Stewart saga, Macy’s alleges Martha Stewart Living Omnimedia violated exclusivity terms of its contract when it agreed in 2011 to open Martha Stewart stores inside J.C. Penney’s stores. Questions: 1. Martha Stewart denied Macy’s allegations that she did anything unethical and said she was only looking to expand her brand. After… Read more »
Justice for Dixon Illinois?
In November 2012, Rita Crundwell, comptroller of Dixon, Illinois, pleaded guilty to wire fraud and admitted that she stole approximately $53 million, admitting she stole the money from the city of Dixon while she was comptroller. She still faces 60 separate but related state felony charges for theft in Lee County. She has pleaded not… Read more »
Martha Stewart- Wildcard, Visionary, but Not a CEO
There are very few corporate leaders whose interests are more closely aligned with their shareholders’ than the homemaking icon, Martha Stewart. She owns 26 million shares and controls nearly 90 percent of the voting rights of her company Martha Stewart Living Omnimedia. While the company lost $50.7 million dollars in the most recent quarter, this… Read more »
How much are you worth as a Voter?
This article looks at ad spending on the presidential race from April 10 to Oct. 10, based on data from Kantar Media. According to the video and article, the millions of dollars spent by superPACs and other outside groups send a clear message: There are really only 12 states in this presidential election and it’s… Read more »
Hyundai & Kia overstated mileage
Hyundai Motors America and Kia Motors America are being forced to lower the fuel economy estimates on the majority of their 2012-13 models after an investigation by the Environmental Protection Agency found that the companies overstated the fuel efficiency numbers for their vehicles in previous years. Based on the audit, they will also have to… Read more »