Status of High-Profile Corporate Scandals

A look at some of the high-profile corporate scandals of recent years and the status of legal action in each. QWEST COMMUNICATIONS INTERNATIONAL INC. _ Former Qwest CEO Joseph Nacchio is indicted Tuesday on 42 counts of insider trading accusing him of illegally selling off $101 million in stock. In July, Robin Szeliga, former CFO, …

HSBC Ignores FSA Code Again

Commonly accepted principles of corporate governance include disclosure and transparency–whereby organizations clarify management’s roles and responsibilities to provide shareholders with a level of accountability, and the rights of, and equitable treatment of, the shareholders in question. British banking behemoth HSBC (nyse: HBC – news – people ) may have gone against the U.K. Financial Service …

HSBC Fraud and Predatory Credit Remains Unsolved

Is this a forged dual-application from Best Buy? A lack of communication within the family? It is, however, a good example of their MarterCard application which claims “$0 to $99 fee” which is usually $99 no matter what. For new merchants, this poses a problem. Will Liz Claiborn and Saks customers appreciate it when money …

HSBC Apparel Merchants May Report More Losses

Watch for the possibility that more of HSBC’s merchants in the apparel industry may report more in a continuing string of losses. Higher fuel prices and less discretionary income, combined with credit cards from a predatory lender, may mean more dismal quarterly reports. “Payouts under Shea v Household (HSBC) are scheduled for 2006. When current …