Apple Inc (AAPL)

[Altaire4_2dot0]

OT: Ethical Guidelines in America ?

So Lango your saying that these kinds of deals don't go on in corporate board rooms across the largest and most capitalist nation on the planet ?

Who do you think sits on the various corporate boardrooms ...... good socialists ? Little old ladies checking in for Tea and biscuits ?

Last I knew being a good capitalist in America wasn't a crime.

The business of America is business - President Calvin Coolidge


Here's something you many not know. Back in 2001, Burst signed a deal with W3 Ventures. The deal was simple. W3 got to collect an 8% kickback (finders fee) for any investment capital it could suck into Burst. If W3 Ventures could find a buyer, it would get 5% of the purchase price. Lang wanted to sell the company outright, but he was happy to cash out anything he could - so gave W3 latitude to try and find investment groups for partial purchase too. Same 5% commission. And W3 would have all expenses reimbursed while it wined and dined prospects.

That arrangement was entered into May 2001.

Then in March 2002, with that contract still open and in effect, W3 Ventures' owner joined Burst's Board. Not that there isn't room for backscratching in the corporate boardroom, but having Board members under contract and with personal pecuniary interests violates the most basic of ethical guidelines and creates a blatant conflict of interest.

-Alt