November 20, 2020

Ex-Wells Fargo CEO John Stumpf misled investors in accounts scam: SEC

first_imgJohn Stumpf, chief executive officer of Wells Fargo & Co., waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 29, 2016.Andrew Harrer | Bloomberg | Getty Images Wells Fargo was later found to have inflated that metric by putting millions of customers into products without their consent, a scandal that cost Stumpf his job in 2016 and even that of his successor Tim Sloan. Current CEO Charlie Scharf took over a year ago and has been tasked with overhauling the fourth biggest U.S. bank and satisfying regulators’ demands for better controls.“If executives speak about a key performance metric to promote their business, they must do so fully and accurately,” said Stephanie Avakian, director of the SEC’s Division of Enforcement.The SEC’s complaint, filed in California, charges Tolstedt with fraud and seeks penalties and to ban her from being an officer or director of a public company.- Advertisement – Ex-Wells Fargo CEO John Stumpf and former deputy Carrie Tolstedt were charged by the Securities and Exchange Commission with misleading investors about the bank’s success in selling multiple products to customers.Stumpf agreed to pay a $2.5 million civil penalty to resolve the matter, allowing him to avoid admitting or denying the charges, the SEC said Friday.The two executives had certified in 2015 and 2016 investor disclosures that touted the firm’s supposedly robust “cross-sell” metric, despite knowing it was misleading, the SEC said in a statement. The metric is an industry term for how many products a single customer has.- Advertisement – According to the SEC’s complaint, Tolstedt publicly endorsed the firm’s vaunted cross-sell metric from 2014 through 2016, despite the fact that it was “inflated by accounts and services that were unused, unneeded, or unauthorized.”In an e-mailed statement, Tolstedt’s lawyer Enu Mainigi called his client “an honest and conscientious executive.”“It is unfair and unfounded for the SEC to point the finger at Ms. Tolstedt when her statements were not only true but also thoroughly vetted by others as part of Wells Fargo’s policies, procedures and systems of controls,” Mainigi said. “Ms. Tolstedt acted appropriately, transparently and in good faith at all times.  We look forward to setting the record straight and clearing her name.”Earlier this year, Wells Fargo paid $3 billion to settle several U.S. probes into its operations, including a $500 million deal with the SEC. The regulator said it will distribute money collected from Stumpf and the bank to investors.center_img – Advertisement – – Advertisement –last_img read more

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Inside Conditions—Michael Vick, PETA and Iraq

first_imgAUBREY BRUCEI am angry, no, completely livid about the constant persecution of NFL quarterback Michael Vick.In December of 2007, Vick was convicted of his role in an illegal dog fighting ring. He was sentenced to 23 months in prison. He served his sentence, paid his “debt of humanity” not his debt to society because he didn’t then and still doesn’t owe society nothing, not one damn thing.A recent article written by Rich Cimini reported that, “Soon after signing a one-year contract [with the NY Jets] in March, a group in Cortland, NY—home of the Jets’ training camp—started an online petition to ban him from camp. It received more than 20,000 signatures. 20,000 signatures to ban a man from playing professional football?Now before Michael Vick was ever discovered or convicted in regard to “the mistreatment” of animals, one of the most prominent organizations trusted with ensuring the welfare of animals was allegedly operating its own animal genocide ring that was far more diabolical and self serving than the offenses allegedly committed by Michael Vick.last_img read more

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Bombers take it on the chin at Rugby Championships; LVR girls fall to Seycove at AA Soccer Finals

first_imgThe Bombers, representing the Kootenay zone, bounced back Wednesday outlasting Esquimault 12-5. Cail Spencer and Jake Lock scored tries converted by Jordan Hunter.Bomber girls fall 3-1 to Seycove, play Sahali to scoreless tiePaige Mansveld scored the only goal as the L.V. Rogers Bombers lost 3-1 to Seycove of North Vancouver Thursday at the B.C. High School AA Girl’s Soccer Championships in Kamloops.In the opener the Bombers had trouble scoring, missing on numerous chances, before settling for a scoreless tie against host Sahali Sabres.Kat Garbula registered the shutout for LVR in a game the Kootenay squad most definitely should have won.LVR concludes the round-robin draw Friday morning against Surrey Christian.The Bombers advance into the playoff round Friday afternoon.The final is set for 11:30 a.m. The L.V. Rogers Rugby Bombers took it on the chin during round three of the B.C. High School AA Boy’s Rugby Championships in Abbotsford.The Bombers were blasted 38-0 by the Windsor Dukes of North Vancouver Thursday.It was the second consecutive goosegg put up by the Dukes.Windsor shutout Alpha 27-0 Wednesday.Despite the loss, LVR can better their finish of a year ago when the school meets Kelowna Christian Saturday in the 11th/12th contest.The Bombers finished in 13th spot in 2011.LVR opened the tournament Saturday in Kelowna losing 28-7 to Southridge of Surrey.last_img read more

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As Dodgers make their presence felt, Giants circle back on Madison Bumgarner

first_imgSAN DIEGO — The moment that news of Gerrit Cole’s record-setting, nine-year, $324 million contract arrived at the Winter Meetings, jaws hit the floor in the lobby of the Manchester Grand Hyatt.The words “Madison Bumgarner” and “Los Angeles Dodgers” kept them there for quite some time.Immediately after Cole and the New York Yankees agreed to the biggest contract any pitcher has ever signed, word trickled out the Dodgers would be shifting their focus from the former Houston Astros ace to the …last_img read more

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The certified crop advisor

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The Certified Crop Adviser (CCA) and Certified Professional Agronomist (CPAg) programs of the American Society of Agronomy are the benchmarks of professionalism. The CCA certification was established in 1992 to provide a benchmark for practicing agronomy professionals in the United States and Canada. The Ohio CCA program has been operating since 1994; a local board directs our program and is managed by the Ohio AgriBusiness Association: is the standard by which professionals are judged. The purpose of a certification program is to protect the public and the profession. It is a voluntary professional enhancement to a person’s career credentials. Farmers and employers prefer to work with Certified Crop Advisers because they have demonstrated they have the commitment, education, expertise, and experience to make a difference in a client’s business. Who should be certified?Any adviser/consultant that spends the majority of their time advising growers or farm managers/operators on agronomic practices and can meet the standards of the program.The next CCA exam date is February 03, 2017; the registration period is now through December 09, 2016. All local boards will be holding exams, with the Ohio CCA exams given in Marysville, Ohio for 2017.CCA Exam Registration will be online and open at this link: Keep in mind to become eligible for the CCA certification, you must take and pass BOTH the International and your local board exams. You do not have to take both exams at the same time however. Show your specializationThose current CCAs who wish to show increased specialization may become certified in the specialty areas: 4R Nutrient Management, Resistance Management, or Sustainability. Only one CCA specialty exam (4R NMS, Resistance Management or Sustainability) may be taken at each exam date. Register by December 9th at the same exam link for the 2017 exam: prep classA Certified Crop Adviser (CCA) Exam Training class sponsored and delivered by the OSU Agronomic Crops Team, will be offered at the Shelby County Extension Office, 810 Fair Rd, Sidney, Ohio 45365 on January 11 & 12, 2017 beginning at 9:00 a.m. on the 11th and adjourn by 5:00 p.m. on the 12th. This is an intensive two-day program somewhat directed toward the local exam – to be used as a reminder on what best to study in preparation for the CCA exams.The price for the exam preparation class is $250. Secure on line registration via credit card, debit card or check is available at: contact:Harold Watters, CPAg, CCAOhio State University Extension1100 S. Detroit StBellefontaine, OH 43311Phone 937 604-2415 cell. Or by email: read more

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Can ‘Passive House’ Be Trademarked?

first_img Sign up for a free trial and get instant access to this article as well as GBA’s complete library of premium articles and construction details. Start Free Trial Already a member? Log in UPDATED on 4/3/2012Can the phrase “passive house” be trademarked? If the answer is yes, has any organization claimed the trademark yet?I decided to research these questions after I noticed a comment posted by Nils Davis on the Web site of the Silicon Valley Passive Building Coalition: “Passive House is a trademark of the Passive House Institute U.S.” That sentence made me sit up and pay attention — after all, if the phrase “passive house” is trademarked, it might be hard for builders of traditional passive solar homes to use the phrase in their marketing materials.I e-mailed Davis for more information. He responded, “At the time I wrote that I had been informed by Katrin Klingenberg (in a March 2009 e-mail) that the PHIUS had applied for trademark protection for Passive House and several associated terms.”Clearly, interest in trademarks is heating up in the Passivhaus community. The following advice was posted by C.A. Snyder on the Web site of the Michigan Energy Efficiency Network: “If you are interested in what Certified Passive Houses offer, protect your interests by looking for the trademarked logo and phrase ‘Certified Passive House.’ ”The Web site of a Wisconsin newspaper, the Hudson Star-Observer, reported that “The term passive house is the trademark name for a type of German-engineered building that is so well-insulated and air-tight it is warmed mostly by the sun.”Someone posting on an Irish energy-advice Web site claimed that “‘Passive House’ is a trademark held by the Passivhaus Institute of Darmstadt, Germany.” Hmm, I wondered — could that be true? Does anyone own the phrase “passive house”?Although it’s hard to do a thorough trademark search without investing a fair amount of money, it’s possible to do a preliminary search at a Web site maintained by the U.S. Patent and Trademark… center_img This article is only available to GBA Prime Memberslast_img read more

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Gagan shows his shooting prowess in men’s 10m air rifle singles event

first_imgThe day Gagan was waiting for riveting rivalries in sports usually have to do with people from different countries. Be it Roger Federer vs Rafael Nadal or, if you move to cricket, Sachin Tendulkar vs Shane Warne, or Mike Tyson against Evander Holyfield in boxing – it is the rivalries that keep fans glued to the action. Cut to the 2010 Commonwealth Games, you have two Indian shooters who keep having a go at each other in the range, and only one wins. On Wednesday, as Gagan Narang and Abhinav Bindra unpacked their air rifles at the Karni Singh range in Tughlakabad, it was clear that revenge was on Gagan’s mind.For almost two years now, Gagan has been smarting after having missed out on a place in the final at the Beijing Olympics. A score of 595 then meant he was not in the final and Bindra got in to make history. If one thought Gagan would have been happy a countryman won gold, you’re right. At the same time, once he did not do well in the other two events in Beijing, he was a haunted man. He kept talking about how one point made all the difference as he could not make it to the final. Gagan has been waiting for this day for long.As one who threatened to pull out of the Games as he had been denied the Rajiv Gandhi Khel Ratna, his showing till now has been sublime. Agreed, Gagan came into shooting much later than Bindra, but this India vs India contest in the shooting range always generates high voltage stuff. It’s not every day that a shooter scores 600/600 and is still told by the international shooting federation (ISSF) this it is not recognised as a world mark. When asked about their rivalry, the two shooters keep mum “as shooting is an individual sport”.advertisementHowever, since a healthy rivalry always motivates one to do better, there can be just one reason why Gagan cranked himself up like this: To prove a point to the Olympic gold medallist. For long, Gagan has felt he doesn’t get recognised like Bindra or some other athlete despite all his feats. It’s a complex only he can dispel. But the bigger thrill will again come from the Asian Games in Guangzhou next month, where he will be competing with Bindra. It’s strange how these two men still shake hands after the event gets over!last_img read more

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Behind Karl-Anthony Towns’ huge night, Minnesota turns back Miami

first_imgLOOK: Joyce Pring goes public with engagement to Juancho Triviño LATEST STORIES Heat: Chris Bosh was back in the stands for a second consecutive game, plus was with Miami at practice on Saturday. … Miami missed its first eight shots. … Whiteside got three stitches over his left eye in the first quarter. He returned to the game. … James Johnson missed the game with an illness. Jones Jr. started in his place, giving Miami its 15th starting lineup in 35 games.WAITERS CLEAREDHeat guard Dion Waiters returned after two days of practice with Miami’s G League affiliate in Sioux Falls, complained about how cold it was there, but more importantly declared himself ready to play again. “I feel great. You ask those guys out there, I don’t think I missed a shot. I’m talking about a lot of deep shots, too,” Waiters said. He hasn’t been in a game for the Heat since Dec. 22, 2017 — but may make his season debut Wednesday in Cleveland.TWO POINTSMinnesota was without its two primary point guards: Derrick Rose missed the game with a right ankle sprain, and Jeff Teague missed his seventh consecutive game with left ankle inflammation. Rose hasn’t appeared in a game at Miami since Dec. 6, 2016. Also out for Minnesota was Keita Bates-Diop, who was ill.UP NEXTTimberwolves: Visit New Orleans on Monday.Heat: Visit Cleveland on Wednesday. Don’t miss out on the latest news and information. Hotel management clarifies SEAG footballers’ kikiam breakfast issue Evan Fournier’s buzzer beater lifts Magic past Pistons MOST READ BREAKING: Corrections officer shot dead in front of Bilibid Is Luis Manzano planning to propose to Jessy Mendiola? Private companies step in to help SEA Games hosting Minnesota Timberwolves center Karl-Anthony Towns (32) reacts after scoring during the second half of an NBA basketball game against the Miami Heat, Sunday, Dec. 30, 2018, in Miami. The Timberwolves won 113-104. (AP Photo/Lynne Sladky)MIAMI  — Karl-Anthony Towns scored 34 points and grabbed 18 rebounds, leading six Minnesota players in double figures as the Timberwolves defeated the Miami Heat 113-104 on Sunday night.Towns added seven assists and six blocked shots for the Timberwolves. The only other player in NBA history to have that many points, rebounds, assists and blocks in the same game was Kareem Abdul-Jabbar, for the Los Angeles Lakers against Phoenix on Nov. 14, 1975. Abdul-Jabbar had 35 points, 19 rebounds, nine assists and eight blocks in that game.ADVERTISEMENT Robert Covington scored 16 and Taj Gibson added 14 for Minnesota. The Wolves also got 13 apiece from Andrew Wiggins and Dario Saric, while Tyus Jones scored 12.Dwyane Wade led Miami with 21 points. Josh Richardson scored 17, Derrick Jones Jr. added 16 and Hassan Whiteside grabbed 13 rebounds for the Heat — who ended the 2018 calendar year with a 43-43 record.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine ‍football chiefSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionMiami led only once, and that was for all of 25 seconds. But Minnesota was never exactly running away with this one — the Wolves’ lead was merely 55-54 at halftime, 86-77 after three quarters and was up to 90-79 early in the fourth.That’s when Miami went on its last-gasp attempt to steal one. SEA Games: Biñan football stadium stands out in preparedness, completion TS Kammuri to enter PAR possibly a day after SEA Games opening View comments A three-point play by Wade, and 3-pointers by Olynyk and Tyler Johnson added up to a 9-0 run that got Miami within 90-88 and put the Heat in position to win down the stretch.Towns was having none of that.He ended the Minnesota scoring drought with a short hook, added a three-point play and his 3-pointer with 4:06 left put the Timberwolves up 103-92.TIP-INSTimberwolves: It was the 13th time Towns has posted at least 30 points and 15 rebounds in a game. Minnesota, somewhat surprisingly, is now only 6-7 in such contests. … Minnesota forced 19 turnovers, while committing only 10.ADVERTISEMENT PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss SEA Games: Biñan football stadium stands out in preparedness, completion Sports Related Videospowered by AdSparcRead Nextlast_img read more

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