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