09-22-2008, 11:32 PM
"Paul Sarbanes"??? You've got to be kidding.
Thirty years in the US Senate and all he has to show for it is one of the worst bills {Sarbanes-Oxley} to ever come down the pike.
Sarbanes-Oxley has seriously harmed American corporations and financial markets without increasing investor confidence. The section of the law requiring companies to perform internal audits has turned out to be far more costly than proponents projected, especially for smaller firms. These costs have led some small companies to go private, hardly a victory for public oversight, and some foreign firms to withdraw their stocks from American exchanges. - William A. Niskanen {Chairman, The Cato Institute & a former member and acting chairman of the Council of Economic Advisers under President Reagan.} http://www.cato.org/pub_display.php?pub_id=6879
Take a look at what Sarbane's pal Mayo Shattuck is trying to pull on the stockholders of Constellation Energy. Shattuck also has close ties with US Sen. Mikulski {D-MD} and MD Governor O'Malley.
[quote The AP]
A French nuclear power company is upping the ante for wholesale power supplier Constellation Energy Group Inc., offering to pay $8.50 per share more for the company, which has agreed to be sold to a unit of Warren Buffett's Berkshire Hathaway Inc.
Electricite de France SA offered Monday to pay $35 per share for the Baltimore company.
EDF made the offer in conjunction with private equity firms Kohlberg Kravis Roberts & Co. and TPG Capital. EDF owns nearly 10 percent of Constellation Energy now.
EDF calls the offer from Berkshire's MidAmerican Energy Holdings Co. inadequate, but Constellation's CEO Mayo Shattuck told analysts Monday the company has accepted what it considers the best offer.
Shattuck will totally screw the stockholders to protect his 'severance package' that Buffett will eventually pay once he's seen how bad Constellation has been run! Under Shattuck, not one new power plant has been built and Constellation's subsidiary BGE 'imports' nearly 60% of the energy it delivers within Maryland.
Thirty years in the US Senate and all he has to show for it is one of the worst bills {Sarbanes-Oxley} to ever come down the pike.
Sarbanes-Oxley has seriously harmed American corporations and financial markets without increasing investor confidence. The section of the law requiring companies to perform internal audits has turned out to be far more costly than proponents projected, especially for smaller firms. These costs have led some small companies to go private, hardly a victory for public oversight, and some foreign firms to withdraw their stocks from American exchanges. - William A. Niskanen {Chairman, The Cato Institute & a former member and acting chairman of the Council of Economic Advisers under President Reagan.} http://www.cato.org/pub_display.php?pub_id=6879
Take a look at what Sarbane's pal Mayo Shattuck is trying to pull on the stockholders of Constellation Energy. Shattuck also has close ties with US Sen. Mikulski {D-MD} and MD Governor O'Malley.
[quote The AP]
A French nuclear power company is upping the ante for wholesale power supplier Constellation Energy Group Inc., offering to pay $8.50 per share more for the company, which has agreed to be sold to a unit of Warren Buffett's Berkshire Hathaway Inc.
Electricite de France SA offered Monday to pay $35 per share for the Baltimore company.
EDF made the offer in conjunction with private equity firms Kohlberg Kravis Roberts & Co. and TPG Capital. EDF owns nearly 10 percent of Constellation Energy now.
EDF calls the offer from Berkshire's MidAmerican Energy Holdings Co. inadequate, but Constellation's CEO Mayo Shattuck told analysts Monday the company has accepted what it considers the best offer.
Shattuck will totally screw the stockholders to protect his 'severance package' that Buffett will eventually pay once he's seen how bad Constellation has been run! Under Shattuck, not one new power plant has been built and Constellation's subsidiary BGE 'imports' nearly 60% of the energy it delivers within Maryland.