Executive Compensation

The New Jersey attorney general has brought suit against the Stevens Institute of Technology and its president, Harold J. Raveché, in a case with disturbing allegations. According to a detailed article in today’s Times, the attorney general is accusing the college’s president of “plundering the endowment and receiving $1.8 million in illegal low-interest loans for vacation homes, with half of them later forgiven.”

The other day, the British government may have stumbled on a simple, straightforward solution to perceived excessive executive pay: a 50 percent bank payroll tax, payable by banks on bonuses payable to their employees.

We don’t often watch TV News (well, except for The Daily Show), but we happened upon an interesting story last night on CBS. The subject: "Soaring Salaries at Non-Profits." It dovetails nicely with our blog entry the other day about for-profit telemarketers collecting for non-profit charities

Goldman Sachs is issuing its much anticipated earnings announcement tomorrow, with some expecting it to set aside up to $20 billion for executive bonuses.   Here’s one response that we just heard about:

Good morning! It’s the first Monday in October, and the U.S. Supreme Court’s new term begins today. There are many business cases on the docket, but two that we at the Financial Fraud Law Blog find of particular interest are Free Enterprise Fund v. Public Company Accounting Oversight Board, and Jones v. Harris Associates.