5 replies to this topic

[greenie]

From Yahoo company profiles:

CORPORATE GOVERNANCE
New Century Financial Corp.'s Corporate Governance Quotient (CGQ®) as of 1-Mar-07 is better than 68.4% of S&P 600 companies and 81.7% of Real Estate companies.

Hmm.....the company was investigated for fraud and just went belly up.

What does it say about the remaining 81.7% Real Estate companies?

[jawndissedi]

From Yahoo company profiles:

CORPORATE GOVERNANCE
New Century Financial Corp.'s Corporate Governance Quotient (CGQ®) as of 1-Mar-07 is better than 68.4% of S&P 600 companies and 81.7% of Real Estate companies.

Hmm.....the company was investigated for fraud and just went belly up.

What does it say about the remaining 81.7% Real Estate companies?

Take a look at LEND. Shills were out on the message boards bigtime this weekend trying to drum up support for this turd.

[Islander]

From Yahoo company profiles:

CORPORATE GOVERNANCE
New Century Financial Corp.'s Corporate Governance Quotient (CGQ®) as of 1-Mar-07 is better than 68.4% of S&P 600 companies and 81.7% of Real Estate companies.

Hmm.....the company was investigated for fraud and just went belly up.

What does it say about the remaining 81.7% Real Estate companies?

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Governance is based on transparency and compliance with shareholder rights. It has nothing to do with fraud which is criminal behavior (intentional misrepresentation of a material fact). Your conclusion is an error. Most of American business, including RE, is run by decent people, like you. Islander.

[greenie]

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Governance is based on transparency and compliance with shareholder rights. It has nothing to do with fraud which is criminal behavior (intentional misrepresentation of a material fact). Your conclusion is an error. Most of American business, including RE, is run by decent people, like you. Islander.

How does this blog fit with your idealistic picture?

http://www.quiggleme.com/


I disagree with you in general. I lived in Silly Con valley long enough to know how American business managers behave. Most of the management in America's big businesses are rotten to the core.

Fraud, or rather unethical practice, is done in three ways:

(i) collusion with Congress to change the laws to their benefit and then claiming that they behaved 'legally' (e.g. disclosure of stock option grants ,
(ii) misleading the owners (shareholders) of the company by making incorrect public statements (e.g. check TOL CEO's public statements last year about housing bust bottoming, while he was selling his own stocks like there was no tomorrow),
(iii) outright frauds (e.g. stock option backdating). In fact, even when they conduct outright fraud, they lead others to believe that it is 'standard business practice'.

[jawndissedi]

There's a lot of rot in the system, and it's not going to be cured by a few high-profile prosecutions à la Enron or Worldcom. Often, it requires someone who's grown up outside the culture being examined to look at it objectively. Greenie seems to be one of the very few here who understands that there's not just financial and economic dislocation at the end of the road we have chosen, but political instability as well.

Among the "special features" on the recently released DVD of All the King's Men, there's a 15-minute documentary on Huey Long. I highly recommend it to anyone not familiar with this chapter of American history. Past is prologue . . . .

Edited by jawndissedi, 12 March 2007 - 03:41 PM.

[spielchekr]

Here's some more market cap to pile on. LEND