• Usana’s CPA explanation doesn’t wash

    Here’s why Usana’s explanation of the non-existent CPA licenses for two board members described in SEC filings as “Certified Public Accountants” does not wash: 1. The law in Utah is clear. They cannot refer to themselves as Certified Public Accountants […]

  • Associated Press Reports on Usana Credential Scandal

    More of a short seller conspiracy? Or can we put that silly idea to rest now that the Associated Press is reporting on the Usana Health Sciences credential scandal? Paul Foy, AP Business Writer reports that “another” executive at Usana […]

  • What to do when a public company is caught falsifying the credentials of the CFO

    So when a public company is exposed for having a CFO who is not a Certified Public Accountant, even though all of their SEC filings say he is, what are they to do? I have a few suggestions: Pretend we […]

  • Anti-semitism on the Yahoo message boards

    A few bloggers were talking this weekend about anti-semitism on the Yahoo message boards, specifically the board for Overstock.com. That discussion board is overrun with derogatory references to Jewish people. Just how pervasive is this problem? Prominent New York attorney […]

  • Nortel Networks to pay SEC fine for accounting fraud

    Nortel Networks will be fined up to $100 million for accounting fraud issues. The SEC began investigating Nortel in 2005 on the civil level. In 2005, the company admitted to overstating revenue by $3.4 billion. $100 million won’t amount to […]

  • Judge Promises Quick Decision in Katrina Insurance Case

    Carolyn King, one of the 5th U.S. Circuit Court of Appeals judges who will rule on the case involving New Orleans homeowners and insurance companies, has promised a quick ruling. Although such rulings usually take months, Judge King has acknowledged […]

  • Usana Health Sciences sells part of its business

    SALT LAKE CITY–(BUSINESS WIRE)–USANA Health Sciences, Inc. (NASDAQ:USNA – News) announced today that, consistent with its long-term objectives, the Company has signed a letter of intent to sell certain assets and inventory associated with the third-party contract manufacturing business at […]

  • Recent SEC actions draw concerns

    Stock Broker Fraud blog offers an interesting perspective on some recent SEC actions. The SEC is protecting Tenet Healthcare Corp. from shareholder lawsuits even though the company has committed fraud. Tenet is paying $10 million to settle allgations of failure […]

  • Insider trading – small cases count too

    Late last month, the SEC filed an action against Raymond C. Chop and Nicholas F. Chop for insider tradeing related to Serologicals, Inc. Allegedly, the two met with a Serologicals employee on April 23, 2005, and found out that the […]

  • More taxes, more taxes, more taxes

    Milwaukee Public Schools is probably in the running for one of the worst school districts in the United States. Yet the taxpayers keep letting the administration spend OUR money on ridiculous things. Early this morning, taxpayers were screwed again with […]