Comments on: Entellium Executives’ Indictment A Rude Awakening for US All http://meetjohnsong.com/2008/10/08/entellium-executives-indictment-a-rude-awakening-for-us-all/ A blog Mon, 12 Jul 2010 18:15:00 +0000 hourly 1 http://wordpress.com/ By: Terry Drayton may Pay High Price for Telling His Side of the Story at Count Me In « Meet John Song http://meetjohnsong.com/2008/10/08/entellium-executives-indictment-a-rude-awakening-for-us-all/#comment-120 Terry Drayton may Pay High Price for Telling His Side of the Story at Count Me In « Meet John Song Mon, 05 Jan 2009 08:11:37 +0000 http://meetjohnsong.wordpress.com/?p=286#comment-120 [...] Terry’s claim that he just didn’t know about the shortfall because the company didn’t keep detailed financial records is interesting.  Obviously, Terry wanted to show that there was no malice intent to take money from the youth programs.  He certainly wanted to make a clear distinction between his situation and that of Entellium, where the CEO and CFO knowingly cooked the company’s books to raise funds. [...] [...] Terry’s claim that he just didn’t know about the shortfall because the company didn’t keep detailed financial records is interesting.  Obviously, Terry wanted to show that there was no malice intent to take money from the youth programs.  He certainly wanted to make a clear distinction between his situation and that of Entellium, where the CEO and CFO knowingly cooked the company’s books to raise funds. [...]

]]> By: Entellium Lists Laid-off Workers As Creditors in Bankruptcy Filings « Meet John Song http://meetjohnsong.com/2008/10/08/entellium-executives-indictment-a-rude-awakening-for-us-all/#comment-86 Entellium Lists Laid-off Workers As Creditors in Bankruptcy Filings « Meet John Song Fri, 05 Dec 2008 05:44:31 +0000 http://meetjohnsong.wordpress.com/?p=286#comment-86 [...] observations in following the Entellium saga have been about “personal integrity”.  As I’ve stated previously, Paul Johnston and Parrish Jones had none.  I was confident that Jonathan Roberts would do the [...] [...] observations in following the Entellium saga have been about “personal integrity”.  As I’ve stated previously, Paul Johnston and Parrish Jones had none.  I was confident that Jonathan Roberts would do the [...]

]]> By: Jonathan Roberts Cleaning Up the Entellium Mess, But How Far Will He Go? « Meet John Song http://meetjohnsong.com/2008/10/08/entellium-executives-indictment-a-rude-awakening-for-us-all/#comment-84 Jonathan Roberts Cleaning Up the Entellium Mess, But How Far Will He Go? « Meet John Song Wed, 03 Dec 2008 08:06:30 +0000 http://meetjohnsong.wordpress.com/?p=286#comment-84 [...] Roberts, a venture capitalist at Ignition Partners and board member of Entellium.  Previously, I blogged about the arrest of two former Entellium executives for cooking the company books and deceptively raising nearly $50 million in venture money. [...] [...] Roberts, a venture capitalist at Ignition Partners and board member of Entellium.  Previously, I blogged about the arrest of two former Entellium executives for cooking the company books and deceptively raising nearly $50 million in venture money. [...]

]]> By: Kendall http://meetjohnsong.com/2008/10/08/entellium-executives-indictment-a-rude-awakening-for-us-all/#comment-41 Kendall Thu, 09 Oct 2008 14:50:39 +0000 http://meetjohnsong.wordpress.com/?p=286#comment-41 The possibility of uber-wealth sometimes creates an environment of moral hazard, which is what happened leading up to this credit crisis, with bad mortgages, packaged bonds backed by mortgages, and their other brother, the supposed insurance policy of credit default swaps. Looking through the food chain, individuals were faced with the hazard by being lured into quick windfalls in real estate speculation, mortgage brokers were faced with the hazard of luring commissions, banks were lured into the hazard of bad loans that paid high returns, and Freddie/Fannie bought all those mortgage bonds based on the lure of executive bonuses, even though it was a quasi-government agency. What it comes down to is character and integrity. Looking at yourself in the mirror, will you resist the next potential moral hazard? The possibility of uber-wealth sometimes creates an environment of moral hazard, which is what happened leading up to this credit crisis, with bad mortgages, packaged bonds backed by mortgages, and their other brother, the supposed insurance policy of credit default swaps. Looking through the food chain, individuals were faced with the hazard by being lured into quick windfalls in real estate speculation, mortgage brokers were faced with the hazard of luring commissions, banks were lured into the hazard of bad loans that paid high returns, and Freddie/Fannie bought all those mortgage bonds based on the lure of executive bonuses, even though it was a quasi-government agency. What it comes down to is character and integrity. Looking at yourself in the mirror, will you resist the next potential moral hazard?

]]> By: Allen Taylor http://meetjohnsong.com/2008/10/08/entellium-executives-indictment-a-rude-awakening-for-us-all/#comment-40 Allen Taylor Thu, 09 Oct 2008 04:35:12 +0000 http://meetjohnsong.wordpress.com/?p=286#comment-40 Nice writing. You are on my RSS reader now so I can read more from you down the road. Allen Taylor Nice writing. You are on my RSS reader now so I can read more from you down the road.

Allen Taylor

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