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31 Aug 2013

OUR VIEW: Campaign finance laws need teeth

He was touted as a candidate for top financial jobs in his native Switzerland before he took the relatively low-key role at Zurich last year. He also sits on the boards of Royal Dutch Shell, Siemens and Investor AB. Ackermann has survived controversy before. In 2006, he paid 3.2 million euros, without admitting wrongdoing, to avoid trial in a dispute over payments to executives at telecoms firm Mannesmann, where he sat on the board of directors. One of few senior industry figures to keep his job through the current financial crisis, he became a forceful public advocate for the Swiss financial sector after leaving Deutsche.

RPT-Market Chatter-Corporate finance press digest

Fast forward to 5/31/2012 and each share was worth $77.79 on that date, a loss of $0.48 or 0.6% decrease over twelve years. But now consider that you collected a whopping $10.77 per share in dividends over the same period, increasing your return to 13.15%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.0%; so by comparison collecting a yield above 11% would appear considerably attractive if that yield is sustainable. Fifth Street Finance Corporation ( NASD: FSC ) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S.

Fifth Street Finance (FSC) Passes Through 11% Yield Mark

sister plant in the deal, a source with knowledge of the matter said. * Swedish refiner Nynas will win unconditional EU antitrust approval for its proposed acquisition of most units of Royal Dutch Shell's Harburg refinery, a person familiar with the matter said on Thursday. * AT&T Inc will examine Vodafone Group Plc's remaining assets after Verizon Communications buys out the British mobile carrier's stake in Verizon Wireless, Bloomberg reported, citing people familiar with the matter. * L'Oreal will be ready to buy Nestle's 29.5 percent stake in the French cosmetics giant next year, French daily Les Echos reported, citing L'Oreal Chief Executive Jean-Paul Agon.

High-flyer: Mr Wauthier was appointed to the post of CFO at Zurich Insurance Group in September 2011 While Silvia said he did not know Edwards role on the planning board disqualified him from serving as treasurer, when in doubt its best to find out. To his credit, Silvia said that hes brought on a new treasurer and bookkeeper to clean up the mess. This time, theres a laundry list of violations: Silvia admitted to excess contributions, disguising the true source of contributions, filing inaccurate and incomplete campaign finance reports, failing to keep complete records and taking corporate contributions that violate campaign finance rules. Silvia who also ran unsuccessfully for the seat in 2010 chalked the violations up to not knowing the law and not paying attention to finances during a heated campaign. Silvia joked that after multiple violations, he now has an equivalent to a doctorate in campaign finance rules and has OCPF on speed dial. While its a good quip from the rep, campaign finance law violations are no laughing matter.


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