CALIFORNIA | LOCAL
March 29, 2007 |
UC Irvine is pulling out of a satellite orthopedics office in Mission Viejo that school officials say has cost it more than $1 million in lost revenue in 3 1/2 years and closing the residency program at Mission Hospital that the office runs. Dr. Ranjan Gupta, chairman of the UCI orthopedics department, said the university would end its contract with Mission Orthopedic Medical Associates on April 12, about five months early. UCI will shut down the residency program at year's end.
March 18, 2007 |
As mortgage lender New Century Financial Corp. collapsed last week, some of the Irvine company's top salespeople relaxed at scenic Dromoland Castle in Ireland, which boasts that it pampers guests like they were "landed gentry." The trip to Dromoland and other Irish haunts was booked in better days for winners of the firm's President's Club awards.
March 14, 2007 |
The former chief executive of business software firm Peregrine Systems Inc. pleaded guilty Tuesday to three criminal charges for his role in the accounting fraud scheme that bankrupted the company. Stephen Parker Gardner appeared in federal court to change his earlier not-guilty plea on one count each of conspiracy, securities fraud and obstruction of justice.
December 3, 2006 |
Five years after Enron Corp. filed for bankruptcy, "Enron -- The Musical" opened Friday in a mostly filled theater here with 2 1/2 hours of toe-tapping songs immortalizing the collapse of the 7th-largest company in America. Though the Enron debacle is a sensitive subject in a city still stinging from lost jobs and retirement savings, the show's author, Mark Fraser, is gambling that at this point, Houstonians are ready to laugh a little.
October 21, 2006 |
Los Angeles spin-meister Michael S. Sitrick is testing his powers of persuasion in the legal arena, trying to convince the courts that he's entitled to collect on a $7.7-million judgment he previously agreed to forgo. For nearly four years, the public relations executive made no attempt to recover the money from Ryan Kavanaugh, in whose now-defunct KC Capital investment fund Sitrick lost $6.3 million during the dot-com bust.
CALIFORNIA | LOCAL
January 23, 2006 |
David Gilmore stepped up to the cash register at Rhino Westwood on Sunday, bought a stack of CDs for a song and then broke into a lament. The 37-year-old gave a blunt description of his mood to the cashier at the store he has patronized since he was 12. "Don't get me wrong, I love technology," he added. But the closing of the independent outlet Sunday after more than 30 years is "a travesty," Gilmore said.
September 30, 2005 |
The founder and chief executive of Bayou Group pleaded guilty Thursday to conspiracy and fraud charges stemming from the hedge fund's high-profile collapse, a scheme that federal prosecutors said cost investors $450 million. CEO Samuel Israel III and the fund's chief financial officer, Daniel Marino, entered guilty pleas in separate appearances in U.S. District Court in White Plains, N.Y. Israel faces as many as 30 years in prison, while Marino faces up to 50 years.
June 1, 2005 |
A number of former Arthur Andersen partners said they felt exonerated Tuesday when the Supreme Court unanimously overturned the conviction that effectively destroyed the once mammoth accounting firm. But it was a bittersweet victory. "It's a terrible irony," said Rachelle Bernstein, a former Arthur Andersen partner who is now tax counsel at the National Retail Federation in Washington. "Obviously, I am happy that the decision was overturned.
June 1, 2005 |
The government's hardball tactics in prosecuting white-collar crime may face a new wave of scrutiny after the Supreme Court on Tuesday threw out former accounting giant Arthur Andersen's obstruction-of-justice conviction.
March 3, 2005 |
Citigroup Inc. said Wednesday that it would pay $75 million to settle a lawsuit brought by investors over its role in the collapse of telecommunications network provider Global Crossing Ltd. Citigroup, which was one of Global Crossing's bankers, was accused in the class action of issuing hyped research reports and failing to disclose conflicts of interest. It said the settlement resolved claims of investors in Global Crossing and its Asia Global Crossing Ltd. affiliate from Feb. 1, 1999, to Dec.