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Wall Street to Main Street: News, Views and Commentary: May 26, 2006

It’s Friday May 26, 2006, and it’s the last day of the trading week and the beginning of a three-day weekend for the market. First and foremost we want to remind everyone to lower their flags to half-staff in memory of the soldiers that have fallen in battle to keep the United States of America free. We also want to send our thoughts out to all the families of fallen soldiers of the most recent war that is taking place in Iraq.

Now lets get down to business, history was made yesterday and some justice was served in a Texas Courtroom, as Ken Lay and Jeff Skilling were found guilty. This is the pair that single handedly forced the Sarbanes-Oxley Act or SOX to be established following the collapse of Enron that left many people without pensions to fall back on. So this is a little retribution as the pair could spend the rest of their lives in prison. They will appeal to verdict but it may do them no good, as they will just delay the inevitable a few more months or so. I don’t think that anyone was really shocked by the verdict but the families of the defendants, as Lay and Skilling pleaded the “It Wasn’t Me” defense. So lets hope that they m8bet mobile supplied with soap on a rope.

Now what this pair did is a far cry from a stock options issuance, but the stock options probe still continues and is growing. There are companies being dragged into this probe that are actually good companies and have done well for investors, companies such as UnitedHealth (NYSE: UNH) and Power Integrations (NASDAQ: POWI) which we happen to like but this probe is a dark cloud over both of these companies. Now what all of this scrutiny may actually do is deter good CEO’s from running public companies and push them into the private sectors.

 

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