Free live xxx chat no register - Broadcom backdating
When they hear of some businessman denounced by the media and indicted by a U. Attorney, they are likely to say to themselves: “Well, there certainly seems to be something to it.
His good luck was that—having lost his job, three years of his life, and millions of dollars—he was ultimately vindicated. Twelve years later, in 2006, revenues were .7 billion—a thousand-fold increase.
They each threw in ,000 and worked out of Nicholas' Redondo Beach home, moving to Irvine four years later, and taking the firm public three years after the Irvine move. It helped make Samueli one of the most influential and richest men in Southern California, which gave him the ability to buy the Anaheim Ducks in 2005 for million. Samueli is getting off much easier than other Broadcom executives. Nicholas III has been indicted on 24 felony counts of misdating stock options to make them more valuable to employees, of distributing drugs to associates, and spiking the drinks of certain Broadcom customers. Indeed, it would be unusual to ask him to do so, given that he has acknowledged providing false testimony to the Securities and Exchange Commission, Adkins said."It's not our custom to put perjurers on the stand," he said.
Working with another accounting professor, Randall Heron, Lie then demonstrated that once executive options could no longer be granted using hindsight, following a change in regulations, their consistent profitableness disappeared.
Conclusion: the profitableness had resulted from backdating.
As a result, journalism today is populated by innumerable muckrakers, and the Justice Department by hundreds of “dockside bullies.”Bill Ruehle’s bad luck was to discover this first-hand. Ruehle was the chief financial officer (CFO) of Broadcom Communications, an Internet company founded in 1991 by “a quiet electronics engineering professor from UCLA (Henry Samueli) and his not-so-quiet student (Henry Nicholas).” Broadcom first turned a profit in 1994: revenues were $3.6 million.
Ruehle, You Are a Free Man —A Broadcom Saga: My Fight for Justice. Likewise, cynical government prosecutors have many incentives to pursue media-defamed businessmen, also regardless of guilt: convictions bring prosecutors journalistic adulation, departmental promotions, lavish private-firm job offers, and even political power.
The WSJ story that defamed him and his Broadcom colleagues was not printed until February 16, 2007.