Word: hides
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...countries meet in Brussels to hammer out a joint stance. One of the biggest questions they face is how much of a public fuss to make. It's a tough call. Markets are already unsettled, and companies don't want to look as if they have something to hide. "Just because many are holding back with public criticism doesn't mean that they agree with the extraterritorial application of the Sarbanes-Oxley Act," says a memo to the E.U.'s Bolkestein from the German Industry Federation. "They are simply concerned that intervening with the sec could be misinterpreted." There...
...other hand, despite the recent cleanup efforts, the continuing adherence to secrecy leaves Switzerland vulnerable to the accusation that it has something to hide?a charge that makes the Swiss cringe. And despite a historic reflex dating back to William Tell to thumb their noses at the outside world, the Swiss realize they need to maintain good relations with the E.U., which completely surrounds them and accounts for about two-thirds of their trade. "It?s not in our long-term interest to profit from any loopholes," says Urs P. Roth, chief executive of the Swiss Bankers? Association, who nonetheless...
...murder of Danielle Van Dam in San Diego, California, then gained intensity with the still unsolved disappearance of Elizabeth Smart in Utah, and, incredibly, grew even fiercer with a series of cases from all over the country. The British parallels are Sarah Payne, who left a game of hide-and-seek with her siblings in July 2000 and was found dead 16 days later; Milly Dowler, still missing since her disappearance on March 21 of this year; and most recently Jessica Chapman and Holly Wells, two best friends who vanished from Soham in Cambridgeshire on Aug. 4. Their bodies were...
...encouraged by tough new laws on corporate fraud. Widely admired General Electric gave investors reason for hope last Wednesday, when it joined a growing list of companies that plan to treat stock options as an expense. Accounting rules don't require this, but not doing so has helped executives hide the truth about their companies' profits. And Stanley Works has scrapped plans to relocate in tax haven Bermuda. Though the decision sent its stock lower, it's likely to lead other companies to reconsider that ethically shaky strategy and is a sign that pressure on ceos to do the right...
France's problems aren't just at the bottom of the market. In a report to the Agriculture Ministry last year, beverage expert Jacques Berthomeau singled out the more refined AOC sector. "Beneath the shelter of our Appellations d'Origine Contrôlée hide a number of wines which are mediocre, if not unworthy of the appellation," wrote Berthomeau. Widely assumed to be a badge of quality, the aoc label guarantees little more than the place where a wine was produced. Quality controls introduced in 1974 are administered by growers themselves: 98% of wines submitted pass the test...