It's time for The 5 Dumbest Quiz about the goings-on and general shenanigans on Wall Street, and we've decided to spice it up by making it a contest: Whoever provides the most number of correct answers will receive an autographed copy of Jim Cramer's new book "Jim Cramer's RealMoney: Sane Investing in an Insane World."
You have until Monday, July 4 at 10 p.m. EDT to enter the contest. We'll re-run the column Tuesday, with the answers, and the name of the winner. If there is more than one winner, we'll hold a drawing to pick one. (Should only two or three of you answer all the questions correctly, we'll forego the drawing and send each of you a personally autographed copy of Jim's book.)
Please email your answers
-- in the subject line, write "Contest Entry."
And now, get out those No. 2 pencils:
1. Martha Stewart grabbed headlines this spring by setting plans to start up her own channel on
. Which other entertainment-industry celebrity signed on with the satellite radio broadcaster?
Former National Public Radio broadcaster Bob Edwards.
Former Baywatch star David Hasselhoff.
Singer-songwriter Jimmy Buffett.
Berkshire Hathaway (BRKA) chief Warren Buffett.
2. Earlier this year
fired former Vice Chairman Tom Coughlin for alleged expense-account abuses and rescinded his $12 million retirement package. What, according to
The Wall Street Journal
, does Wal-Mart say Coughlin improperly charged off?
A pair of lizard skin boots valued at $1,000.
A steel dog pen valued at $2,590.
A signed copy of Sam Walton's memoirs.
A dog-eared edition of Union Organizing for Dummies.
ex-CEO Bernie Ebbers is due to be sentenced July 13 on his fraud conviction. His lawyers have called the government's life-in-prison request "draconian." Why do they believe Ebbers deserves leniency?
Ebbers has suffered enough -- his Achilles' tendon was injured in a 1960s mugging.
Ebbers needs to be free to oversee the sale of his Canadian timber holdings.
Ebbers is unlikely to commit a repeat offense.
The federal prison system spends too much on coffee already.
4. Last month a New York state jury convicted former
chief Dennis Kozlowski of taking millions of dollars from the company without permission. What did Kozlowski tell jurors in his defense?
The bonus payments were approved orally by a former director, Phil Hampton, who died in 2001.
He had never noticed that a $25 million loan-forgiveness credit was omitted from his 1999 tax forms, though he "cannot explain" why.
"Oh, the buck stops with me, like everything at Tyco."
All of the above.
5. Match the former CEO with the appropriate consulting, severance or retirement package.
Harry Stonecipher, Boeing (BA) - Get Report
Carly Fiorina, Hewlett-Packard (HPQ) - Get Report
Phil Purcell, Morgan Stanley (MWD)
Frank Raines, Fannie Mae (FNM)
Scott Livengood, Krispy Kreme (KKD)
$46,000 a month.
$114,000 a month.
$600,000 a year.
6. Keeping the magic kingdom safe isn't cheap,
shareholders learned in January. How much did the media giant pay for security services last year for departing CEO Michael Eisner?
7. A federal judge last month sentenced
founder John Rigas to 15 years in prison for looting the cable operator and defrauding its shareholders. How many years had prosecutors recommended?
8. Match the disgraced executive with the charitable activity.
Dennis Kozlowski, Tyco
John Rigas, Adelphia
Bernie Ebbers, WorldCom
Richard Scrushy, HealthSouth
Played keyboard in rock band Proxy to raise $2 million for hospitals, United Cerebral Palsy telethons and other causes.
Claimed to have given away $100 million, including $45 million to his alma mater.
Endowed theater in an arts center at St. Bonaventure University in upstate New York.
Donated money for an academic center at Seton Hall University in New Jersey.
9. According to an April 4 article in
The New York Times
, how did
directors discussing the company's future at a mid-March board meeting hear from CEO Hank Greenberg?
He screamed at them over a lunch of fish and tomato juice as his personal butler served tea.
He called them from his yacht off the Florida coast.
He called them from his private plane.
He called them from the yacht and then from the plane.
10. Shares of a tiny company called
sprung into the spotlight last week when they
jumped 312% in a single day. The very next day, the company's chairman and largest shareholder, Duncan Mount, dumped his stock and quit. What did he say to explain the decision?
"I realize that it is possible that some investors may interpret my decision to sell shares as a lack of confidence in Catuity. That is not the case."
"I've got a lot on my plate lately."
"Catuity is committed to building a company with the objective of achieving profitability by year-end 2006."
"I've got to get less busy."
Got your own idea for the dumbest thing of the week?
We'll share the best submissions.
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