The Louisiana Conservative Ballot

January 21, 2008

I have a great worry concerning the Louisiana Republican state convention, and that concern is where are we going to go as a party? You see, I am worried that we are going to elect people off of a ballot, many of which have never ever lifted a finger to help the party, nor to help us conservatives fight for our values, not even sharing the values of our party. I open my arms wide open to anybody who wants to join the party and who chooses to consistently fight for the values they believe in.
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However, I hold with great resentment people who think they can just waltz into the party, solve all of our problems when they don’t even know what our problems are. Though I do welcome new activism into the party, I resent people who only come around during an election year, create problems, and then leave the core hard working conservatives, not only having fight harder for our conservative values, but undoing the mess of these midnight cowboys. It is with this in mind that I am coming out with a Louisiana Conservative ballot. The names on the list support various candidates for President, and the presidential candidate they support is of no concern to me. What I do endorse is their long time commitment to conservative values, to less taxes and less government, values that most of the readers of Louisiana Conservative share. Please go to the caucus sites on Tuesday night and vote for the candidates. There are many other solid conservatives that are not on the following list, but we’d like to encourage you to vote for your respective list.

1st Congressional District
Adam A. Ackel
Landon Allen
Kathleen N. Benfield
Stephanie Hunter Berault
Brett Bonin
Jeb Bruneau
Jay Connaughton
Stephen Gele
Alicia T. Irmscher
Lara Jensen
Larry Katz
John F. LaBruzzo
Nick Lorusso
Kristin McLaren
Audra Shay

Alternates
Jim Benson
Paul “Bubba” Deckert
Dustin Dupepe
Keith B. Hall
Robert J. Logreco
Lee Reid
Kathleen Vogt Robert

2nd Congressional
Kim Carver
John R Cook
Robert “Bob” J Ellis Jr
J.T. Hannan
Michael H Pinkerton
Brian Trascher
Anne Wingfield

3rd Congressional
Michael Bayham

4th Congressional
Royal Alexander
Ronnie Broughton

5th Congressional
Lee Fletcher
Kay Katz
Josh McNemar

6th Congressional
Pat Bergeron
Jeff Blanco
Charlie Davis
Vickie Davis
Roy Fletcher
Franklin Foil
Louis “Woody” Jenkins
Dan Kyle
Willie “WD” Lewis
“Jay” Lyles
Robert “Bob” Morgan
Erich Ponti
Joseph R “Bob” Thibodeaux
Scott Wilfong
Harold Williams

Alternates
Ellen Davis
Ramsey Horn
Chris Ingram
Ricky Roberie
John Gideon Veazey

7th Congressional
Anthony Emmons
Helen Blue Garrett
Nadia DelaHoussaye
Raymond “La La” LaLonde
Ross Little Jr.

Alternates
Julie S. Little

 

In many cases, this will not round out your ballot, however, we ask that you vote along these lines as these folks have been making contributions in various ways and deserve your support and your vote to be alternates and delegates to the state convention.

 

 

 

Groupon IPO scam is the sleaze thats legal.

Times of Oman (Muscat, Oman) April 8, 2012 Here’s an unsettling fact for anyone thinking of ever buying shares in a newly public company: Even if its executives know their internal accounting systems are a wreck, they aren’t required to disclose this until after the company goes public.

It is a lesson that Groupon shareholders have learned the hard way. Groupon shares fell 17 per cent on Monday, after the online coupon company said late last week that it had identified a ‘material weakness’ in its internal controls over financial reporting, as of December 31. The Chicago-based company also revised its fourth-quarter results to show lower revenue and a larger loss, after finding errors in its accounting for customer refunds. At $14.54, the stock now sells for 44 per cent less than it did after the first day of trading.

Given that Groupon went public only last November, the latest news raises the question: Didn’t Groupon know before its initial public offering that its controls were weak A company spokesman, Paul Taaffe, declined to comment. Let’s assume for the moment, though, that its executives did know. Even then, they wouldn’t have had to tell investors beforehand. That’s because there is no requirement to disclose a control weakness in a company’s initial public offering (IPO) prospectus.

Groupon would have had no obligation to disclose the problem until it filed its first quarterly or annual report as a public company – which is what it did. Sandbagging IPO investors in this manner is perfectly legal, it turns out. web site groupon sandiego

Loopholes The reason lies with a gaping hole in the Sarbanes-Oxley Act, which Congress passed in 2002 in response to the accounting scandals at Enron Corporation and WorldCom. That statute had two main sections related to companies’ internal controls, which are the systems and processes that companies are supposed to have in place to ensure the information they report is accurate. Those provisions apply only to companies that are public already, not ones that have registered for inital publci offerings.

One section, called 302, requires public companies’ top executives to evaluate each quarter whether their disclosure controls and procedures are effective.

The other section, known as 404, is better known. It requires public companies in their annual reports to include assessments by management and outside auditors about the effectiveness of their internal controls over financial reporting. Congress left it to the Securities and Exchange Commission (SEC) to write the rules implementing those provisions. go to site groupon sandiego

Here’s where it gets tricky. Groupon reported the weakness in its financial-reporting controls through a Section 302 disclosure, not a Section 404 report.

Future disclosures In other words, the problem was serious enough that it amounted to a shortcoming in the company’s overall disclosure controls.

Groupon won’t have to comply with Section 404’s requirements until its second annual report, due next year, under an exemption the SEC passed in 2006 for newly public companies. Likewise, Groupon’s auditor, Ernst & Young, to date has expressed no opinion on the company’s internal controls in its audit reports.

Groupon’s IPO prospectus cautioned that future disclosures about control weaknesses were possible.

It also said the company had only ‘recently filled a number of positions in our senior management and finance and accounting staff’. However, the prospectus made no representation about whether Groupon’s controls were effective at the time. None was required.

An SEC spokeswoman, Judith Burns, confirmed: “There is no requirement to disclose a material weakness in the prospectus.” She was speaking broadly, not about any specific company.

(Jonathan Weil is a Bloomberg View columnist. The opinions expressed are his own.) (Follow timesofoman.com on Facebook and on Twitter for updates that you can share with your friends.) Muscat Press and Publishing House SAOC 2012 Provided by Syndigate.info an Albawaba.com company


3 comments
lilly
lilly

Kay Katz of Dist. 5 is the Republican National Committeewoman of La and is not eligible to run on a ballot. She is an automatic delegate already. Who approved her to run?

The Numbers Guy
The Numbers Guy

Who will communicate the caucus results ? Not a word on the La GOP site over two hours after balloting has completed. The blogosphere is saying Ron Paul had a strong majority in the Lake Charles caucus site.

GM Roper
GM Roper

I suspect that La. will be upset if I vote in their congressional districts. LOL... Keep up the good work.

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