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Three years ago, Badian paid a $1 million fine to settle a Securities and Exchange Commission (SEC) charge that he had manipulated Sedona's shares. Related criminal charges were filed a few months later, but by then Badian had fled. His whereabouts were recently given to U.S. Attorney Michael Garcia in New York City, whose office is handling the criminal case. Garcia's office said only that the case remains open...
...victory left Spurrier just a win away from becoming bowl eligible with games at Arkansas and at home versus Florida and Clemson still remaining. (And had South Carolina been able to convert a two-point conversion in Athens, the Gamecocks contest against the Gators would be for the SEC East division title.)With that, let’s get to this weekend’s action.North Carolina State at Florida State (-13.5)Beware of the powerhouse ACC.Or at least that’s what the college football establishment was saying heading into the season. With just one month remaining...
...service collects $148,000 a year for life; an assistant port director with 31 years, $132,000. So far, the scandal has cost the mayor his job, six pension-fund trustees have been charged, city services are being slashed and investigations have been launched by the FBI, the SEC and the U.S. Attorney...
Snow is not alone. The phantom employment record, as it might be called, is a common executive-retirement practice in corporate America--and one that is spelled out in corporate filings with the Securities and Exchange Commission (SEC). Drew Lewis, the Pennsylvania Republican and onetime head of the U.S. Department of Transportation, got a $1.5 million annual pension when he retired in 1996 as chairman and CEO of Union Pacific Corp. His pension was based on 30 years of service to the company, but he actually worked there only 11 years. The other 19 years of his employment history came...
Since the PBGC no longer publishes its Top 50 list, anyone looking for even remotely comparable information must sift through the voluminous filings of individual companies with the SEC or the Labor Department, where pension-plan finances are recorded, or turn to the reports of independent firms such as Standard & Poor's. The findings aren't reassuring. According to S&P, Sara Lee Corp. of Chicago, a global maker of food products, ended 2004 with a pension deficit of $1.5 billion. The company's pension plans held enough assets to cover 69.8% of promised retirement pay. Ford Motor...