Bribery, Fraud & Tax Evasion
Last year, the CEOs of the 500 biggest U.S. companies averaged $15.2 million in total annual compensation, according to Forbes business magazine's annual executive pay survey. The top eight CEOs on the Forbes list each pocketed over $100 million. Stunning numbers like these have moved executive pay onto America's political radar screen.
A new novel, "Eclipse," by Richard North Patterson, is based on the case of the Nigerian writer and activist Ken Saro-Wiwa, executed in November 1995 by the government of General Sani Abacha. The circumstances, along with related incidents of brutal attacks, are getting another hearing. This month the Wiwa family's lawsuit against Royal Dutch Shell over its role in those events goes to trial in federal court in Manhattan.
JP Morgan, the Wall Street bank, is negotiating to escape criminal prosecution for its role in the sub-prime mortgage crisis in return for paying the U.S. government roughly $3 billion, plus $6 billion to investors, and another $4 billion to compensate home owners.
The only paper I read with regularity these days is the Wall Street Journal. Although its editorial writers are patently insane, the news and feature writers have recently dedicated themselves to thoughtful pieces on what should be the most important story of our day: the collapse of our economy.
Former House Majority Leader Tom DeLay tried to pressure the Bush administration into shutting down an Indian-owned casino that lobbyist Jack Abramoff wanted closed - shortly after a tribal client of Abramoff's donated to a DeLay political action committee.
A political strategist who left U.S. Rep. Katherine Harris (news, bio, voting record)'s Senate campaign last month said Harris ignored her staff's recommendation to reject a defense contractor's $10 million appropriation request, now being challenged by a congressional watchdog group.
A Congressional investigation revealed that Pfizer agreed to pay Dr. Jarvik $1,350,000 as a celebrity pitchman for the heart drug Lipitor, and wants to know how much stunt doubles in the ads may have also been paid.
Associated British Foods (ABF), a UK company that makes Silver Spoon sugar, pays almost no taxes on its profitable Zambian sugar subsidiary, according to a new ActionAid report. The authors allege ABF has avoided estimated taxes of $27 million since 2007, enough to put 48,000 Zambian children in school.
Federal agents are looking into Sen. Ted Stevens' role in the ongoing investigation into the remodeling of his Alaska home, according to two law enforcement officials familiar with the probe.