Barry Minkow was right about Microsemi CEO (big surprise)

Another successful fraud investigation has been logged by ex-con Barry Minkow. In addition to the more than $1.8 billion in fraud Minkow is responsible for uncovering, he also proactively discovered faked credentials by several public company executives.

One that caused a big stir was that of Microsemi (NASDAQ:MSCC) CEO James Peterson. This one was interesting because Minkow said that Peterson didn’t have either the bachelors degree or masters degree that he claimed to have from Brigham Young University.

Read moreBarry Minkow was right about Microsemi CEO (big surprise)

Lennar Corporation (NYSE:LEN) Confirms Fraud Allegations; Debunks Own Lies

In an interesting twist in the case of the Barry Minkow (Fraud Discovery Institute) fraud investigation of Lennar Corporation (NYSE:LEN)… it appears that Lennar itself has debunked the company’s own lies.

In a new report released today, FDI lays out the original fraud allegations, the lies Lennar used to cover up, and the new admissions which prove the initial allegations were true (and Lennar’s cover up was full of lies).

Here are the details:

Read moreLennar Corporation (NYSE:LEN) Confirms Fraud Allegations; Debunks Own Lies

DownsizeDC.org: Can Public Works Stimulate the Economy?

An article courtesy of DownsizeDC.org:

John Maynard Keynes originated the idea that government spending could reverse an economic downturn, but even he was skeptical of using government construction projects for this purpose.

Nevertheless, Congress, and people like Paul Krugman, want to spend hundreds of billions on public works.

Read moreDownsizeDC.org: Can Public Works Stimulate the Economy?

Milwaukee event for entrepreneurs interested in social media

You don’t have to be a social media guru to attend this event. You can start learning about how social media can benefit you and your company, and participate in a great networking event too…

When: February 6th, 2009
Where: The Luxurious Iron Horse Hotel – 500 S. Florida Streets
Cost: Free
Time: 5:30PM – 9PM
Guest speakers and LIVE DEMO of sohobiztube.com
Door Prizes for those in attendance.

Read moreMilwaukee event for entrepreneurs interested in social media

Scamming Wisconsin’s Welfare System

Oops. We’re not really allowed to call it “welfare” anymore. That might hurt someone’s feelings.  Back in the 90’s Wisconsin changed the name from “welfare” to “W2” (which stands for Wisconsin Works – ha ha ha….)

Wisconsin has long been known as a great place to collect welfare. We’ve had Illinois residents crossing the border for years to collect benefits here. It’s always been easy, so long as they have a Wisconsin address they can use.

Read moreScamming Wisconsin’s Welfare System

Brilliant revelation by PCAOB: CFOs are in charge of the numbers

calcIt’s no secret that I feel that audits are almost completely ineffective when it comes to verifying the validity of financial statements. Sure, an audit checks the math and some of the obvious applications of the accounting rules. But audits don’t guard against fraud and usually don’t find fraud.

Those who want audits to do that should just keep on wishing. It’s not going to happen.

Read moreBrilliant revelation by PCAOB: CFOs are in charge of the numbers

Stealing a Slice of the Company Pie

ABC NewsA Weak Economy Can Mean More Employee Theft … and More Awkward Situations in the Workplace

ABC News
By Michelle Goodman

A reader of this column I’ll call Stan received some jarring news upon returning to work after Christmas: His boss had been fired for doubling her paycheck for nearly five months.

“She was not very smart about the way she went about taking the money,” wrote Stan, who works as an IT manager at a carpet distributor in Dalton, Ga. “She simply added money to her paycheck since she was in charge of payroll. She was found out by a year-end audit by the company accountant.”

Read moreStealing a Slice of the Company Pie

Unwanted, Unneeded, (to be) Unused Rail Line Still Being Pushed… And Lies to Help Push It

I really don’t understand why  politicians continue to push for a “commuter rail line” between Kenosha and Milwaukee. What’s in it for them? Why lie in order to get it constructed?

This rail line is being pushed as something that will increase commerce and be heavily used by people commuting to work.  The fact is that no one seems to know anyone who will actually be riding the train. No one seems to know anyone who actually wants it or has any substantive proof that it’s needed. And the commerce? Pie-in-the-sky as well. I promise you that these train stops will be near-abandoned and not the hub of any sort of business activity.

Read moreUnwanted, Unneeded, (to be) Unused Rail Line Still Being Pushed… And Lies to Help Push It