Word: sec
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...executives whose companies are traded on U.S. exchanges or are thinking of listing there. (The spokesman says Porsche has not yet made a final decision.) A handful of Germany's biggest firms, including DaimlerChrysler, Allianz and Deutsche Telekom, last month tried to persuade the U.S. Securities and Exchange Commission (SEC) that they should be exempted from the account-certification rule. Their petition was rejected. Now, a broader movement is stirring behind the scenes, as national business federations across Europe seek to coordinate a common position with the European Commission. The goal of Sarbanes-Oxley - to restore public confidence and prevent...
...than $1 billion. (Fastow has yet to respond.) Kopper also agreed to forfeit $12 million in illegal profits he earned, to be distributed to Enron victims. But those who lost big on Enron shouldn't celebrate yet. Responsibility for collecting the funds lies with the Securities and Exchange Commission (SEC), which was scolded by congressional investigators in July for failing to do what it's charged with now: hauling in the illegal gains of securities-law violators. From 1995 to 2001, the SEC recouped just $424 million, or 13.6% of the $3.1 billion owed in these cases...
...Smarts were sold last year in Europe and Japan, a 16% increase over 2000. But Americans' appetite for fast, powerful cars and roomy sport-utility vehicles (SUVs) makes it unlikely that they will ever settle for a two-seater the size of a golf cart that takes 17 sec. to go from zero to 60 m.p.h. (about twice as long as the typical car sold in the U.S.). Hence Detroit's preoccupation with fuel cells, which could ultimately clean up even the most monstrous...
...better world, and it's important to stay idealistic. Besides, art must sometimes be an irritant to stimulate debate." Debate is at the heart of French filmmaker Alain Brigand's latest project, 11'09'01. He asked 11 directors to film self-contained segments lasting precisely 11 min. 9 sec. each plus one frame (a restriction that one participant, Indian director Mira Nair, called "French conceptual bulls__t"). Brigand describes the project - which also includes segments by Sean Penn and Ken Loach - as "an open dialogue. We have people from different cultures sharing the different implications they draw from...
...Called To Account Shares in insurance broker Aon fell by almost 30% after it said it was the latest company to be questioned by the sec over accounting practices...