Wednesday, September 05, 2007

A Receiver For Universal Express

To no great surprise, a federal court has ordered that a receiver be appointed to oversee Universal Express, the creepy little company that is a longtime leader of the anti-naked-shorting conspiracy cult.

I wonder if the U.S. Chamber of Commerce is still happy that it appointed CEO Richard Altomare to three Chamber committees.

Altomare promptly spat out a press release saying that he will appeal the ruling. Characteristically, the release does not say what the ruling says -- or that it means that Altomare gets kicked out of his office.

The SEC has been pushing this case as a civil action. Has to make you wonder: where is the U.S. Attorney? Gone fishing?

© 2007 Gary Weiss. All rights reserved.

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Wall Street Versus America was published by Penguin USA on April 6.
Click here for its listing and here for more information on the book, from my web site,

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