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| Friday, November 20, 2009 |
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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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February 18, 2009 9:09 AM ET
(Reuters) — Former Swiss President Adolf Ogi was quoted as saying he is stepping down from the advisory board of Stanford Financial Group after Texas billionaire Allen Stanford and three of his companies were charged with fraud. “I don’t want to have anything to do with something that could be dodgy,” Mr. Ogi told the Swiss daily Cash, according to its website on Wednesday. He added that he was stepping down immediately from the board. “We never discussed the operational business in the meetings,” Mr. Ogi, who met Stanford while working as a U.N. adviser on sport, said of his participation on the advisory board. Mr. Ogi was not immediately available for comment on the report. The U.S. Securities and Exchange Commission accuses Mr. Stanford, a high-profile cricket promoter, and two executives of fraudulently selling $8 billion in high-yield certificates of deposit in a scheme stretching from Texas to the Caribbean. Mr. Stanford had also set up a European operation in Zurich. Employees at the Zurich office declined to comment on the investigation on Wednesday, referring queries to the United States. When Mr. Ogi was appointed to the Stanford advisory board in April last year, he said in a statement: “I am proud to be involved with a financial services group that also understands the importance of improving communities through philanthropy.” Mr. Ogi, a member of the right-wing Swiss People’s Party (SVP) and former director of the Swiss Ski Federation, was Swiss president in 1993 and 2000. He was appointed special U.N. Special Adviser on Sport for Development and Peace in 2001. Mr. Stanford, a 58-year-old Texan running the firm that his grandfather founded, has denied any wrongdoing, but his location remained a mystery. Mr. Stanford’s property holdings and celebrity associations drew comparisons with Wall Street financier Bernard Madoff, who was charged in December in a suspected $50 billion fraud.
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