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For the past five years, Allen failed to tell Congress about stock options

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dajoki Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-08-06 09:42 PM
Original message
For the past five years, Allen failed to tell Congress about stock options
MSNBC
http://www.msnbc.msn.com/id/15188520 /

Allen didnt report stock options
Va. senator in midst of tough re-election campaign

Updated: 5:36 p.m. ET Oct 8, 2006

RICHMOND, Va. - For the past five years, Sen. George Allen, has failed to tell Congress about stock options he got for his work as a director of a high-tech company. The Virginia Republican also asked the Army to help another business that gave him similar options.

<<snip>>

An Associated Press review of Allen's financial dealings from that era found that the senator:

--Did not have to look far to find corporate suitors, joining three Virginia high-tech companies he assisted as governor. Allen served on boards of directors for Xybernaut and Commonwealth Biotechnologies and advised a third company called Com-Net Ericsson, all government contractors.

--Twice failed to promptly alert the Securities and Exchange Commission of insider stock transactions as a Xybernaut and Commonwealth director. The SEC requires timely notification and can fine those who file late.
Kept stock options provided to him for serving as a director of Xybernaut and Commonwealth, but steered other compensation from his board service to his law firm.

--Allen, a potential 2008 presidential candidate, rose to prominence as a conservative from Virginia, serving in the U.S. House and as governor. From 1998 through 2000, he worked as a private lawyer and businessman before joining the Senate in 2001.

<<snip>>

In interviews, Allen and his staff sought to play down his corporate dealings, saying they were a good learning experience but did not lead to extraordinary riches -- except for a quarter-million-dollar windfall from Com-Net Ericsson stock....http://www.msnbc.msn.com/id/15188520 /
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snowbear Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-08-06 10:25 PM
Response to Original message
1. One of today's article says their final debate was tonight...
Anyone know anything about it..?

If there was one.. did anyone here catch it?

~~~
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Wesin04 Donating Member (188 posts) Send PM | Profile | Ignore Sun Oct-08-06 10:51 PM
Response to Reply #1
2. Webb - Allen debate
Takes place Monday, Oct 9th at 8 pm ET. Can be seen on CSPAN as well as various Virginia stations. Will be broadcast from the PBS station in Richmond.

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