http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20060104&ID=5317521 The market is correcting itself. Beautiful. I'm glad to see Scrushy punished. Even though HealthSouth went through some problems (one of my assignments was down in Birmingham and it was a debacle), it is returning as a healthy company. This money, along with the $265 million the government owes the company in taxes, will help set HealthSouth up for a better future.
My wife and her co-workers in the bond world were absolutely stunned when he walked. The case against him was close to air-tight.
i'm still baffled by this case. he signed off on all reports, stating that they were indeed factual. in fact, they weren't. every top finance guy at the company buckled under the weight of evidence against them and pleaded out to provide information against Scrushy. but Scrushy, who was whole-heartedly anti-email, had left no paper trail detailing his orders to push the envelope, and even in his conversations with his underlings, he used such careful language. it is almost as if this was something he was planning, and he ended up playing his cards perfectly.
in the capitalist system, sound rule of law is part and parcel of the 'market'. sound rule of law is going to win this case.
My understanding, based on a reporter's assessment, was that he played the "born again" card and the jury bought it.
Yeah, OK. The judicial system is not "part of the market". It steps in when the "market" fails to regulate itself.
You also bill at 108% while you're fvcking around on an internet message forum. I'd call that cheating your clients. And you're flat wrong...again. The judicial system is supposed to be there when the market fails.
well, just like 95% of the people in the company this week, I'm unassigned. it is our firms way to 'recharge our batteries' and see fellow co-workers after going through hell for the last 11 months. so I'm cheating nobody right now. the market didn't fail in this case. the market punished HealthSouth for its' improprieties. the market worked. the judicial system is stepping in to punish those who perpetrated the manipulation of financial information. Scrushy did indeed use his down home appeal and charm to convince the jury that 'he didn't know' all that financial manipulation was going on around him. I still can't believe that a CEO would have no clue as to what his top 15 financial executives were doing. It is unfathomable that he escaped prison. But I'm happy that the judge is socking it to his pocket book to the tune of $47m. I'd also like to see the judge attach interest to that number, too.