Corporate governance

Alecia Swasy, a Wall Street Journal reporter, got a call in August 1991 from a former Procter & Gamble manager. He informed her that the police wanted to know what their previous conversations regarding P&G were about. The reason why this was happening because he was being investigated by Cincinnati fraud squad investigator Gary Armstrong. He was a part-time security guard for P&G and happened to have records of recent long-distance conversations, some which included calls with Alecia Swasy…

The Marines and SEALs had successfully cleared the Aviation museum which allowed Captain O’Hara, Commander McDonald and the engineers in. The women that were found on the premise were being relocated to Oceana NAS for processing and relocation. Corporal Higgins was being sent back to Oceana by Captain Luxon with his wife and child. Captain Luxon was a firm believer in taking care of the family first, if his Marines knew their families were safe and taken care of they were far more likely to…

In 2002, Congress signed the Sarbanes-Oxley Act (SOX) in response to several notorious corporate scandals, including those at Enron/Worldcom. The piece of legislation was aimed to hold corporate officers personally liable and to rebuild public confidence in the corporate sector. SOX, “requires violations of securities laws or breaches of fiduciary responsibility to be reported to either the chief legal officer or CEO of the company by-house attorneys or outside counsel (Reed, & Bogardus, 2015)…

“In Australia it is still impossible to discern any broad principle of company law indicating the circumstances in which a court should lift the corporate veil”.15 As illustrated, it can be quite difficult to list the cases in which the corporate veil will be pireced.16 Herron CJ contends that authorities in which the corporate veil has been pierced have not been of such consistency that any principle can be adduced. 17 Rogers AJA also takes a similar view, arguing that there is no unifying…

principles and assumptions of accounting and financial reporting. As your new financial advisor I will explain the important changes made by the SOX act and who is impacted by it. Section One The Sarbanes-Oxley (SOX) Act was the reaction to major corporate and accounting scandals, including Enron and WorldCom. The goal of the act is to thwart and dissuade future accounting fraud, safeguard shareholders and increase confidence in financial reporting in public companies and in the United States…

A lawsuit has been filed on behalf of all people who purchased or acquired Pacific Coast Oil Trust (PCOT) securities that became effective on May 2, 2012 and September 19, 2013. It is alleged that PCOT violated federal securities laws in its disclosures. The disclosures issued are believed to misrepresent its business, operations, and prospects. More specifically, it is claimed that the statements are misleading regarding PCOT’s capital expenditures and hedge contracts (Faruqi & Faruqi, LLP).…

needed approvals. To comply with corporation formalities, the board of directors should draft and approve the resolution to dissolve. Shareholders then vote on the director-approved resolution. Both actions should be documented and placed in the corporate record book. While LLCs are not subject…

A. Legal Rules Conflict of Interest A long-time member of the board and the largest donor, John Woods, reached out to the Executive Director of Children’s Assistance Services (CAS) to contact Marvin Jones to start on the repair project. John Woods’ wife’s brother owns 20% of Marvin Jones’ business. Since Woods is a member of the board and holds leverage due to being the largest donor, this situation is deemed as a conflict of interest (Statues p.1019, Article III, Para 2). Moreover, there was…

Corporate misconduct should be preempted and must start from within the individual company’s leadership and trickle down. No matter how much regulation you have in place, if it is the intent of a CEO or other top leader in a given company there is very little regulation will do to prevent misconduct. As the saying goes rules are made to be broken unless from within a company there exists a robust infrastructure of ethical organization that is self-sustaining. In my view there seems to be a sway…

Paul L. Howes (58) President and Chief Executive Officer Paul Howes started his management career with Flint Ink Corporation, where he worked for 5 years as the Vice President and General Manager of the company’s Packaging division. In 2002, Mr.Howes started Astaris LLC, a chemical company. He sold Astaris three years later, and moved to Newpark in 2006. Mr.Howes immediately took on a leadership role at Newpark, becoming President and CEO, while also joining Newpark’s Board of Directors.…