|Jeffrey Skilling mug shot|
Enron's Skilling to Leave Prison in 2017 as Sentence Cut: "Former Enron Corp. Chief Executive Officer Jeffrey Skilling, who spearheaded the fraud that destroyed the world’s largest energy trader, will leave prison in 2017 after his sentence was reduced to 14 years from 24. U.S. District Judge Sim Lake III in Houston yesterday approved the terms of the deal made between prosecutors and Skilling, who appeared at the hearing dressed in prison-issued green clothes and wearing handcuffs that were removed in court. In exchange for a shorter sentence, Skilling, 59, agreed to forfeit $45 million, drop his bid for a new trial and end litigation over his 2006 conviction and sentence. The former CEO’s prison term was already set to be reduced by nine years, thanks to a 2011 appellate-court ruling that sentencing guidelines were incorrectly applied in his case."
Wall Street's "Fabulous Fab" Heads to Trial: "The trial of the infamous ex-Goldman Sachs trader Fabrice 'Fabulous Fab' Tourre, which start[ed] Monday [July 15, 2013], could put a face on the type of Wall Street recklessness that imploded the housing market and almost sank the economy five years ago. . . . If Tourre is found liable, he could face a hefty fine from the SEC and be barred from working in the financial industry. 'The SEC can take a real bite out of you . . . The sky's the limit in terms of the monetary penalties.' The SEC has filed civil charges against Tourre and is taking him to trial largely based on e-mail evidence. The SEC alleges that, based on the messages, Tourre knew he was selling compromised investments - packages of real estate debt that had been expected to fail and were being shorted by hedge fund firm Paulson & Co."
States Promise Quick Action on Election Laws After Ruling on Voting Rights Act: "Across the South, Republicans are working to take advantage of a new political landscape after a divided U.S. Supreme Court freed all or part of 15 states, many of them in the old Confederacy, from having to ask Washington's permission before changing election procedures in jurisdictions with histories of discrimination. After the high court announced its momentous ruling . . . officials in Texas and Mississippi pledged to immediately implement laws requiring voters to show photo identification before getting a ballot. North Carolina Republicans promised they would quickly try to adopt a similar law. Florida now appears free to set its early voting hours however Gov. Rick Scott and the GOP Legislature please. And Georgia's most populous county likely will use county commission districts that Republican state legislators drew over the objections of local Democrats."
courtesy of Wikimedia Commons/Giorgio Montersino
How One Year of Marissa Mayer has Changed Yahoo: "Yahoo CEO Marissa Mayer likes to shop. During Mayer's one-year tenure -- her start date was a year ago Wednesday [July 17, 2013] -- Yahoo has bought an incredible 16 startups. And she didn't even start the buying spree until she'd been CEO for three months. Since then Yahoo's acquisitions have been made at a breakneck pace, with the company sometimes announcing two purchases in a single day, or six over the course of a month. 'It is just astounding how truly active Yahoo has been on the M&A front,' said S&P Capital equity analyst Scott Kessler. 'They're mostly buying very small companies, but still -- I don't know that any other company has matched this pace of buying.'"