Securities And Exchange Commission
It was only last week when Reuters reported that Ed Whitacre, Jr. told the media that General Motors IPO shares would "likely to be priced between $20 and $25 in the initial public offering by the automaker in November." GM didn't r
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Over the past five years, the U.S. Department of Justice along with the Securities and Exchange Commission have been investigating allegations that German automaker Daimler and three of its subsidiaries paid tens of millions of dollars in bribes through offshore bank accounts to secure contracts for its vehicles.
For a number of years Daimler kept secret accounts used by executives specifically for the purpose of making illicit payments to foreign officials – a practice otherwise known as bribing. The "improper payments" were made primarily in Africa, Asia and Eastern Europe from banks in those regions. The bribery itself wasn't Daimler's problem – the fired whistleblower and the U.S. Department of Justice and Securities and Exchange Commission were.
Ford just amended its bylaws to take a little fiscal power away from its board. In the old version of the bylaws, the finance committee could greenlight spending on product development projects. Under the new one, not so much. The Dow Jones MarketWatch learned about this item through a filing with the Securities and Exchange Commission. Apparently the board will still be able to review how things are done regarding the management of Ford's financial affairs, but the ability to ok items
With the Securities and Exchange Commission a bit curious about some of General Motors' accounting practices as it relates to the automaker's price concessions negotiated with suppliers, Lear now finds itself on the receiving end of a subpoena of its financial records. Lear 'fessed up to its newfound role in the investigation last week, but received the Fed's request back in February