Government, Politics and the Economy
Congress Urged to Raise Debt Limit
Treasury Secretary Tim Geithner has saddled Congress with the task—for the second time this year—of quickly increasing the maximum amount of money the federal government can borrow, something increasingly unpopular with the American people. WSJ.com
Management and Operations
Are Your Employees Ever Really Off? n the age of online social networking, when the goings-on in your business tweeted or written on Facebook walls, the after-hours activities of your employees may count as much as what they're doing "on-the-job." ManageSmar...
By Charles M Cooper · August 11 2009
small business brief, marketing, small business, economy
Meet Mr. Richard Scrushy, the former CEO of HealthSouth, currently serving a seven-year federal stretch in Texas on a bribery conviction—he bribed former Alabama Gov. Don Siegelman—but that isn’t what were here to talk about. No, Mr. Scrushy has been brought to the Jefferson County Circuit Court in Alabama—HealthSouth is headquartered in Alabama—to face a civil suit brought by the company’s investors and stemming from the rather self-serving management style he adopted during his time as CEO. According to a story on BhamWeekly.com:
A derivatives action on behalf of HealthSouth investors is seeking damages from the former CEO. The lawsuit is a civil case in state court. Scrushy risks paying damages if he loses, but he will not face further time in prison.
Why are the stockholders suing Mr. Scrushy? They are suing because when he was the CEO of this publicly-traded company he used the firm as an extension of his own wallet. Moreover, as a man o...
By Charles M Cooper · May 28 2009
small business, entrepreneurs, financial crime, embezzlement
