RPT-Market Chatter-Corporate finance press digest
Galvan is the first Latino city councilman in Compton. (Bob Chamberlin / Los Angeles Times / July 2, 2013) Also By Angel Jennings and Abby Sewell August 27, 2013, 7:28 p.m. Compton City Councilman Isaac Galvan belatedly filed mandatory campaign finance forms after state officials threatened to open a formal investigation when he missed several deadlines. The financial statements, which were submitted Thursday, show that Galvan spent $29,000 on his race to become Compton’s first Latino elected official. Galvan also reported that he raised only half as much as he spent. Most of his donations came from people outside of Compton in neighboring southeast communities. According to the documents, Galvan has outstanding debts totaling $15,500, most of which was attributed to printing campaign fliers. The 26-year-old reported that he owes Angel Gonzalez, his former campaign manager, almost $12,000. Galvan hired Gonzalez as his community liaison when he won the election. Gonzalez was subsequently fired by Compton’s city manager after The Times published a story that revealed Gonzalez’s criminal history. In 2002, Gonzalez was convicted of a felony conspiracy charge reduced to a misdemeanor at his sentencing for sending out attack mailers with copies of fake official documents.
<img src='http://www.trbimg.com/img-521e7774/turbine/la-me-ln-document-isaac-galvan-campaign-filings-sl/187/187×105' width='220px' alt='Document: Isaac Galvan campaign filings’ style=’float:left;padding:5px’ />
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OUR VIEW: Campaign finance laws need teeth
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.
Corporate finance leaders should empower end users through technology
Silvias $20,000 fine is a drop in the bucket compared to the $80,000 fine former Lt. Gov. Timothy Murray has agreed to pay for campaign finance law violations. Meanwhile, in previous years, Fall River Mayor Will Flanagans campaign has been fined multiple times for accepting contributions above the limit provided by law.
The Best Personal Finance Blogs That You Should Be Reading
Our roles have evolved, and there are other things that we could be doing that are better uses of our time.” Since implementing Host Analytics , May said non-finance users are now able to enter budget data and run reports whenever they need to, albeit within the limits of account security settings. They are also encouraged to request new reports. But he didn’t turn a blind eye to the Achilles’ heel of such an approach — user buy-in. “In our case, [user buy-in] was one reason why we wanted something with a similar look and feel” to Microsoft Excel spreadsheets , he said. “If you can get that user buy-in, people are going to own the system and it’s going to make your job a lot easier.” He added that finance leaders should aim to secure buy-in at all levels — starting at the top and working down to end users.