Loren C. Steffy's Blog, page 59

Dallas sports a case of skyline envy

Strange benefits: a Dallas promotional video includes a shot of the Houston skyline.

SEC sues Fannie, Freddie execs over mortgage deals

Finally, the Securities and Exchange Commission has set its sights on some big names in the mortgage crisis. The commission today sued six former executives of the mortgage giants Fannie Mae and Freddie Mac, saying they approved "misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans." In a statement, [...]

A few thoughts on Christopher Hitchens

I only knew Christopher Hitchens, who died last night in Houston, through his writing, and for a long time I didn't even read much of what he wrote. I didn't know he was an atheist or a reformed socialist until much later. I stumbled across Hitchens' writing in the 1980s, soon after he wrote a [...]

Stanford competent for trial, government says (Updated)

(Updates with filing from Stanford's attorneys.) Government prosecutors say jailed former billionaire R. Allen Stanford is competent to stand trial next month. Attorneys for the U.S. Justice Department will argue at a hearing next week that Stanford's trial, coming almost three years after the collapse of his financial empire, should go forward. Stanford, who has [...]

Stanford competent for trial, government says

Government prosecutors say jailed former billionaire R. Allen Stanford is competent to stand trial next month. Attorneys for the U.S. Justice Department will argue at a hearing next week that Stanford's trial, coming almost three years after the collapse of his financial empire, should go forward. Stanford, who has been in custody since his arrest [...]

H-P finds its inner Grinch as health care CEOs bleed investors for millions

That whole financial crisis/global recession thing is soooo yesterday. There's no point in dwelling in the past, especially if you're an executive who's been cooling his heels on the pay front for the past two years. After stagnating since 2008, executive pay roared back last year, the Guardian reports. A survey by the corporate governance [...]

The Isenberg backlash begins at Nabors Industries

Nabors' Industries final kiss-off to Houston's most overpaid executive has drawn the ire of five public pension funds who control about 1.7 million shares of the oil driller's stock. The funds — in California, Connecticut, Illinois, New York and North Carolina – are calling for shareholders to be allowed to nominate their own directors, the [...]

Is Amazon's Price Check app anti-competitive?

Amazon has angered small business owners across the country with its Price Check app, which allows customers to use a smart phone to compare in-store prices with ones Amazon offers online. To sweeten the deal, Amazon is offering a 5 percent discount to Price Check users during the holiday shopping season. In essence, the app [...]

SEC sues SIPC over Stanford Financial investments (Updated)

(Updates with details of the lawsuit) The Securities and Exchange Commission, in an unprecedented move, sued the insurance fund for U.S. brokerage accounts, asking a court to compel the fund to cover losses for some investors who lost money in Allen Stanford's alleged $7 billion Ponzi scheme. The lawsuit comes after months of behind-the-scenes haggling [...]

SEC to sue SIPC over Stanford Financial investments

(Updates with details of settlement discussions.) The Securities and Exchange Commission has decided to sue the insurance fund for U.S. brokerage accounts, after months of behind-the-scenes haggling failed to resolve a dispute involving coverage for some investors who lost money in Allen Stanford's alleged $7 billion Ponzi scheme. The lawsuit, the first ever by the [...]