And in other news, Sarbanes-Oxley thumbs up, Jessie and Sandra done

[DainBramaged]

The Supreme Court on Monday unanimously rejected a challenge to the constitutionality of the 2002 Sarbanes-Oxley law, which sought to reform corporate America following the Enron and WorldCom accounting scandals.

The court turned aside a broad challenge to one part of the law, which established the Public Company Accounting Oversight Board to regulate the accounting industry. Some commentators had forecast that the court might throw out the entire law because of problems with the way the accounting board is appointed, but the justices refused to do so.

Instead, in a 5-to-4 split, the court found that the way members of the oversight board could be removed was unconstitutional.

As a result of that decision, the Securities and Exchange Commission, which appoints the five members of the board, will now be able to remove members at will, rather than only if there is good cause.

http://www.nytimes.com/2010/06/29/business/29accounting.html?src=mv

Sandra Bullock, Jesse James finalize divorce

Sandra Bullock has finalized her divorce from husband of nearly five years Jesse James UsMagazine.com has learned.

The documents are sealed.

Stating that their marriage "has become insupportable" after James, 41, cheated on her, Bullock, 45, filed for divorce Apr. 23 in Travis County Court in Austin, Tx., where she is a resident (and where James plans to move).

Around the same time of her filing, Bullock revealed that she and James had been in the process of adopting a baby from New Orleans, 3 1/2 month-old Louis, before splitting. She said she plans to raise the boy as a single parent.

http://today.msnbc.msn.com/id/37980878/ns/today-entertainment/