Topic: Regulatory

— 1969 items —

On Fannie, Freddie and WaMu…
September 9, 2008—Today’s my first day back from 10 days spent on a remote island off the coast of Maine and my inbox has been inundated with questions about Fannie (FNM), Freddie (FRE) and Washington Mutual (WM), all of which lost their CEOs, not to mention billions of dollars in shareholder equity. Everyone — even my mom, […]

Countrywide’s last Q…
August 12, 2008—Yesterday was a big deadline for Qs and lots of big companies, including several banks, jostled to see who could file closest to the deadline. Among those on my radar are Wachovia (15:49), Washington Mutual (16:52), and Och-Ziff (16:54). But it was the 10Q that Countrywide filed at 5:10 yesterday that really caught my eye. […]

Overstock’s real estate and naked short risks…
August 6, 2008—In a little less than two weeks, footnoted will celebrate its fifth anniversary and in all of that time writing about odd disclosures at all sorts of companies, I’ve managed to avoid writing about Overstock (OSTK). It was definitely a conscious decision, mostly because so many other people were beating the drum, including my friend […]

Sensitive stuff at Cintas…
August 1, 2008—Earlier this year a Canadian publication called uniform maker Cintas Corporation (CTAS) one of the best employers in Canada. But last week, here in America, a union-backed group – angered by the 2007 death of a Cintas worker dragged into an industrial dryer at the firm’s Tulsa plant – embarked on a “Painful Truth Tour” […]

The SEC wants to put an end to false rumors…
July 14, 2008—There’s so much going on this morning, that it’s hard to know where to focus one’s attention. There’s the rescue of Fannie and Freddie, the deal for Anheuser-Busch (BUD) and yet another Powerpoint in the ongoing Yahoo (YHOO), Microsoft (MSFT) and Carl Icahn saga. But at times like this, it’s always good to stick to […]

R.I.P Indymac…
July 12, 2008—Exactly five months ago — on Feb. 12 — Indymac (IMB) sent this letter to its investors, which it also filed as an 8K. The 8-page letter was unusually frank, with Chairman and CEO Michael Perry stating “2007 was a terrible year for our industry, for Indymac and for you, our owners.” Six weeks later, […]

On healthcare and the upcoming election…
June 18, 2008—It’s no secret that the two major candidates for President have vastly different takes when it comes to healthcare reform (here’s Obama’s plan and here’s McCain’s plan). And now, fears over which way it will go have started to filter into various SEC filings, mostly in the form of risk factors. Among those companies warning […]

Odd warnings at Brinker…
June 6, 2008—Brinker International (EAT), owner of several “casual dining” chains, said in its last 10-Q that it faces “challenging times.” With gas prices spiking up and consumer confidence spiking down, it seems Americans have been taking fewer spins to Brinker restaurants like Chili’s and On the Border. (Meanwhile, Brinker has been trying to sell its Macaroni […]

Trying to slip through the cracks at Wachovia…
April 15, 2008—Of all the news that came out about Wachovia (WB) yesterday — the unexpected loss, the $7 billion in new capital, and the dramatic cut in the dividend — there were several new disclosures, primarily related to legal troubles — in the 8-K they filed yesterday that went largely unnoticed. We’ll take them in order: […]

Two retailers and their corporate jets…
April 4, 2008—I would have preferred to get through the week without hearing the phrase “FAA whistleblowers.” Here we are, already trying to survive various and sundry blows to the global economy. And now, as we’re sitting on the runway, we’ll be wondering if anyone has recently inspected the Scotch tape that’s keeping the wing on the […]