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July 25, 2008 8:42:38 AM CDT

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CEOs Misbehaving track this thread

Started by Imperator; Last updated Dec 6, 07 8:00 PM CST by D Lim | View history

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CEOs Misbehaving

"How are the mighty fallen!" 2 Samuel i. 25.

Stories

Stories 1 - 20 of 27

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  • July 2008

    • In Good Times and Bad, Looks Matter

      newser  |  Washington Post  |  Jul 21, 08 1:07 PM CDT

      In Good Times and Bad, Looks Matter

      Did so many people believe IndyMac CEO Michael Perry's assurances that his company was doing fine because of his baby face? A forthcoming study suggests that soft features like "large eyes, small nose, high forehead and small chin," engender more favorable bias in viewers, the Washington Post reports. The effect only goes so far, however. More »

  • June 2008

    • Feisty Exec Straddles Two Financial Crises

      newser  |  Portfolio  |  Jun 17, 08 7:50 PM CDT

      Feisty Exec Straddles Two Financial Crises

      At age 83, Hank Greenberg is on anything but a quiet path to retirement. The legendary exec is smack in the middle of two of the biggest financial stories of the day—the upheaval at insurance giant AIG and the struggle to salvage Lehman Brothers. Portfolio looks at Greenberg's reversal of fortune since his resignation from AIG in 2005 after 4 decades. More »

    • Embattled AIG CEO Steps Down

      newser  |  Wall Street Journal  |  Jun 15, 08 3:43 PM CDT

      Embattled AIG CEO Steps Down

      Martin Sullivan has stepped down as AIG's CEO, and the company's board named chairman Maurice Willumstad his successor, insiders tell the Wall Street Journal . The insurance giant's stock has plummeted more than 50% since October due to subprime writedowns, and Sullivan is still embroiled in legal battles with his former boss. The new chief may start with a clean slate, but the state of American real estate remains daunting. More »

    • Lazy Bosses Go Wayyyy Back

      newser  |  CNNMoney  |  Jun 10, 08 6:54 PM CDT

      Lazy Bosses Go Wayyyy Back

      Think your boss is the first to delegate the duties and enjoy sunny days on the links? Such indulgences go way back, writes Stanley Bing in Fortune . Two thousand years ago, Cleopatra ruled Egypt by dazzling the male rulers of her time. More recently, America’s beloved Ben Franklin lived like a star while fans revered his brilliant oratory. The list goes on: More »

    • CEOs Live the Good Afterlife

      newser  |  Wall Street Journal  |  Jun 10, 08 9:23 AM CDT

      CEOs Live the Good Afterlife

      Corporate critics who say there is not enough connection between performance and executive pay may be gravely concerned to learn that many execs will keep getting sky-high bonuses when they're 6 feet under. A Wall Street Journal review finds dozens of CEOs will receive "golden coffin" payments if they die in office, sometimes in excess of $100 million. More »

    • Ex-Broadcom Boss Charged With Drugging Exec Drinks

      newser  |  Wall Street Journal  |  Jun 6, 08 5:27 AM CDT

      Ex-Broadcom Boss Charged With Drugging Exec Drinks

      Broadcom's co-founder has been indicted on an astounding spate of federal fraud and narcotics charges, the Wall Street Journal reports. Henry Nicholas III is accused of using and distributing drugs over a seven-year period while directing a criminal stock options-backdating conspiracy that cost the firm billions. Prosecutors claim he secretly spiked the drinks of technology executives and customers with Ecstacy. More »

  • April 2008

    • Samsung Chairman Resigns

      newser  |  Wall Street Journal  |  Apr 22, 08 7:00 AM CDT

      Samsung Chairman Resigns

      The chairman of Samsung, Korea's leading exporter, has resigned after being indicted on multiple counts of tax fraud and breach of duty. Lee Kun-hee, whose resignation speech was carried live on all of South Korea's TV networks, has controlled the Samsung consortium since 1987. Lee, his wife, his son, and nearly a dozen other execs have been implicated in the scandal. More »

    • SocGen CEO Resigns Over Rogue Trader

      newser  |  Financial Times (UK)  |  Apr 18, 08 4:59 AM CDT

      SocGen CEO Resigns Over Rogue Trader

      The CEO of Société Générale will step down, at last bowing to pressure in the wake of the $7.8 billion rogue trading scandal. Although investors and politicians—including French President Nicolas Sarkozy—had demanded Daniel Bouton's resignation immediately after the revelation of Jérôme Kerviel's massive fraud, the bank had insisted he stay on to keep SocGen from collapse, reports the Financial Times . More »

    • Samsung Head Indicted for Tax Fraud

      newser  |  Bloomberg  |  Apr 17, 08 6:43 AM CDT

      Samsung Head Indicted for Tax Fraud

      The chairman of electronic giant Samsung will stand trial for tax evasion and breach of duty after special prosecutors alleged corruption in South Korea's largest industrial corporation. Lee Kun-hee was indicted in Seoul today for evading $114 million in taxes and for incurring losses at Samsung while installing his son in leadership positions, Bloomberg reports. Nine other execs at Samsung were also charged with crimes. More »

  • March 2008

    • Diller On Top in Liberty/IAC Ruling

      newser  |  Bloomberg  |  Mar 28, 08 8:03 PM CDT

      Diller On Top in Liberty/IAC Ruling

      Barry Diller took round one today in his feud with fellow billionaire John Malone: A Delaware judge ruled that Malone can’t force Diller out of Interactive Corp. for trying to break up the company, Bloomberg reports. The ruling prevents Malone's Liberty Media from seizing control; Liberty has a minority stake in IAC but, by prior agreement with Liberty, Diller votes Liberty's shares, Bloomberg reports. More »

    • Ex-Qwest CEO's Conviction Overturned

      newser  |  Denver Post  |  Mar 17, 08 3:35 PM CDT

      Ex-Qwest CEO's Conviction Overturned

      A federal appeals court overturned Joe Nacchio’s guilty verdict today and ordered a new trial for the ex-Qwest CEO before a different judge, the Denver Post reports. The court ruled that the district judge who presided over Nacchio's trial on insider trading charges erred in excluding testimony from an expert witness who teaches law at Northwestern. More »

  • December 2007

    • UnitedHealth's Ex-CEO Will Pay Back $620M

      newser  |  Wall Street Journal  |  Dec 6, 07 9:59 PM CST

      UnitedHealth's Ex-CEO Will Pay Back $620M

      UnitedHealth's ex-CEO will surrender another $420 million in stock options and retirement pay to settle claims in a scandal over stock-option backdating. William McGuire already had forfeited $200 million to UnitedHealth when he was ousted last year, the Wall Street Journal reports, making his giveback one of the largest in history. More »

    • Sears Chief Wins Worst CEO Award

      newser  |  MarketWatch  |  Dec 6, 07 12:51 PM CST

      Sears Chief Wins Worst CEO Award

      There were lots of rotten CEOs this year, writes MarketWatch’s Herb Greenberg, but the man who stood above (below?) the pack was Sears Chairman Eddie Lampert. Lampert is revered for his brilliant trading at ESL Investments, but he’s a bad retail boss, espousing a profit-over-sales ethos that’s failing miserably. Same-store sales and margins are going the wrong way for Sears. More »

  • November 2007

    • Red Cross Prez Forced Out for 'Relationship'

      newser  |  New York Times  |  Nov 28, 07 5:57 AM CST

      Red Cross Prez Forced Out for 'Relationship'

      The president and CEO of the Red Cross was forced to resign yesterday for having an inappropriate "personal relationship with a subordinate employee" just six months after he was hired. "This is a huge punch in the stomach," said an organization official. Mark Everson was the Red Cross's third president in eight years. More »

  • August 2007

    • Branson Dumps Water on Stephen Colbert

      newser  |  Daily Mail (UK)  |  Aug 14, 07 5:40 PM CDT

      Branson Dumps Water on Stephen Colbert

      Tycoon Richard Branson one-upped Stephen Colbert when he threw a glass of water at the fake news anchor on last night's Comedy Central show. Branson was miffed that he didn't get to plug his new airline on the Report, even after christening an airplane for the host. Colbert, always thinking on his feet, retaliated by requesting his own bottle of water and tossing it at the mogul, but viewers say the spat seemed ad hoc and unpleasantly tense. More »

    • Spin Control: A Scandal Survival Guide

      newser  |  Portfolio  |  Aug 13, 07 12:57 PM CDT

      Spin Control: A Scandal Survival Guide

      You thought you were safe by confining your philandering to professionals, but now the cat's out of the bag. Portfolio offers tips for controlling the damage: Tell your spouse If you know you'll be ratted out, fess up first Go directly to the press Act quickly, then move on More »

    • Brocade CEO Guilty of Fraud in Backdated Options

      newser  |  Bloomberg  |  Aug 7, 07 8:26 PM CDT

      Brocade CEO Guilty of Fraud in Backdated Options

      The former head of a data-storage company today became the first chief executive convicted in the crackdown on backdated executive stock options. Gregory Reyes, CEO of Brocade communications, was found guilty in federal court in San Francisco of 10 counts of conspiracy and fraud. More »

  • July 2007

    • Ex-Qwest CEO Gets 6 Years

      newser  |  Bloomberg  |  Jul 27, 07 5:43 PM CDT

      Ex-Qwest CEO Gets 6 Years

      Qwest's former CEO was sentenced to 6 years in prison today for engaging in insider trading while the company's stock plummeted. Joseph Nacchio committed "crimes of overarching greed,'' a federal judge in Denver said as he fined him $19 million in addition to the $52 million he must forfeit, then denied Nacchio's request for both probation and bail. More »

    • Black Convicted of Fraud

      newser  |  Chicago Tribune  |  Jul 13, 07 11:11 AM CDT

      Black Convicted of Fraud

      A federal jury convicted British Lord and former media baron Conrad Black on three counts of fraud and one of obstruction of justice today. Black dodged a racketeering charge, while three associates on trial with him were convicted of multiple fraud counts after 12 days of deliberation. More »

    • Food Fight: CEO Ripped Rival in Secret Posts

      newser  |  Wall Street Journal  |  Jul 12, 07 4:54 AM CDT

      Food Fight: CEO Ripped Rival in Secret Posts

      The founder of Whole Foods secretly posted messages on a Yahoo stock investors forum—boosting his own company and damning competitor Wild Oats, the Wall Street Journal reports. Now, as CEO John Mackey tries to buy the company he trash-talked, the posts that ran for eight years have come back to haunt him. More »

Stories 1 - 20 of 27

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Nacchio with his family and lawyer   (Associated Press)
  (Associated Press)
  (Associated Press)
Closing Arguments Begin in Tyco Case   (Getty Images)
Former HealthSouth CEO Richard Scrushy arrives at the federal courthouse in Montgomery, Ala., Thursday, June 28, 2007, for the sentencing phase of his federal corruption trial. Scrushy was sentenced to...   (Associated Press)
Conrad Black, former head of the Hollinger International Inc. newspaper empire, arrives at the federal building in Chicago, Friday, July 13, 2007, where the jury has reached a verdict in his fraud and...   (Associated Press)
  (Shutterstock)
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