As expected, James Davis, Stanford Financial’s Chief Number-Maker-Upper has entered his not guilty plea but his counsel has stated that his client will plead guilty to all the charges against him as early as next week. The initial plea has been made in order to finalize the plea agreement with Davis prior to his pleading guilty
This is all occurring while Stan the Man’s attorneys are in New Orleans appealing a Houston judge’s ruling that he has to pump iron in prison throughout his trial. Stan’s attorneys continue to maintain that their client is NOT a flight risk, which is kinda like saying that Bernie Madoff is NOT in jail.
Ex-Stanford CFO to plead guilty within 2 weeks: lawyer [Reuters]
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Apple CFO’s Seemingly Banal Statement Interpreted Quite Differently by The Wall St. Journal
Apple Insider reported yesterday that when Apple CFO Peter Oppenheimer was asked about Google’s acquisition of Motorola he reportedly said, “$12.5 billion is a lot of money.” Now, I don’t know anyone that would say, “$12.5 billion is pocket change,” or “I piss on $12.5 billion.” Not even the most ostentatious Russian oligarch would be so bold to laugh in the face of that sum of money.
Having said that, it appears the Wall St. Journal seems to think that Oppenheimer’s statement are akin to fighting words, as illustrated by the headline: “Apple CFO Snipes at Google’s Motorola Bid” which included the following:
Peter Oppenheimer, Apple’s CFO, took a shot at Google when asked about the company’s $12.5 billion bid for Motorola Mobility Holdings during a conference call with investors hosted by Gleacher & Company. Oppenheimer said that companies should invent their own technology rather than buy it from the outside, adding that “$12.5 billion is a lot of money,” according to a report from Apple Insider.
First of all, to look at Peter Oppenheimer you wouldn’t think he’s capable of “sniping.” Secondly, “snipe” is defined as “To make malicious, underhand remarks or attacks” according to Wiktionary. For example, if Oppenheimer had said something like, “Larry Page couldn’t get laid in a monkey whorehouse with a bag of bananas” or “Androids are the Yugos of the smartphone world,” those would qualify as snipes. They are malicious, underhanded and are attacks.
Conversely, “$12.5 billion is a lot of money” is not a snipe. It is a statement of a fact-ish. It is a lot of money. You could argue that it is Oppenheimer’s opinion but as posited above, very few would argue that it isn’t a lot of money. Is Google overpaying for Motorola? That’s the question Michael Hickins ultimately asks in his article but somehow the hook for this was that Apple’s CFO brings the same level of snark as the CEO.
Ex-BofA CFO Would Appreciate It if Andrew Cuomo Got His Name Right
Andrew Cuomo must be feeling pretty good about his chances at becoming Governor of New York, even with some new competition entering the race.
However, we came across a little mistake that could worry voters that Drew doesn’t really pay attention to the little things that matter. Like people’s names.
You’d think that if Cuomo was going to traipse all over town throwing allegations at people, he’d at least know what those people’s names are.
Case in point, the first line of the response from former CFO (and current consumer banking CEO) Joe Price had to go to the trouble of pointing out that his name is not, in fact, “Joseph,” it is “Joe.”
Talk about a low blow, Cuomo. You think you can run Albany and just get people’s names wrong? They’ve threatened to shut down the whole government for less than that.
Hey, Cuomo, The Name’s Joe, Not Joseph [Charlotte Business Journal]
Today, in Regrettable CFO Emails
In his time at PwC, you'd think Henri would've received the "don't write anything in email […]