Welcome Back Koss Corp.Welcome Back Koss Corp. ( KOSS), to that same old place that you laughed about. Yeah, we may tease them a lot -- because we got them on the spot -- but stereo products maker Koss Corp. is once again trading on the Nasdaq. Shares of the Milwaukee-based Koss had been halted since Dec. 21, after the company's management became aware of unauthorized transactions by its vice president of finance, Sujata "Sue" Sachdeva. The stock stopped trading at $5.50 in December and now changes hands close to $4 a share. Sachdeva has since been fired and should soon be indicted for embezzlement. The company, however, still has a lot of work to do to repair itself. Koss estimates that Sachdeva's illegal transactions amounted to more than $31 million since fiscal year 2005, nearly the size of the company's current market capitalization.
NBC Goes for the BronzeRemember the 1980 Olympic hockey game when announcer Al Michaels famously asked, "Do you believe in miracles?" Well, when it comes to NBC we don't, especially when it comes to the network's late night schedule. After months of lackluster ratings and affiliate grumbling, NBC revealed last weekend its intention to reschedule "The Jay Leno Show" once the Winter Olympics begins next month. The plan is for Leno to leave his 10:00 p.m. time slot and return to his former home at 11:35 p.m. once the Olympic torch is lit on Feb. 12, according to NBC Universal Television Entertainment Chairman Jeff Gaspin. Under the new arrangement, Conan O'Brien would retain his job with "Tonight" but at the later hour of 12:05 a.m., while Jimmy Fallon's "Late Night" show would be pushed back a half-hour later to 1:05 am.
Google's China ChallengeThe Chinese have Baidu ( BIDU) so they don't need Google ( GOOG). Nevertheless, they would be making a dumb decision if they let Google go. Google, one of the world's fastest growing and game-changing technology companies, said Tuesday that it's no longer willing to censor its search results in China and is considering shutting down its Web site and its offices in the country. Google announced plans to meet with the Chinese government over the next few weeks to discuss the basis on which the company can "operate an unfiltered search engine within the law, if at all." Google's statements were prompted by evidence that computer hackers had accessed the email accounts of Chinese human rights activists. Google also said it discovered that at least 20 other large companies from a wide range of industries were targeted by hackers.
Goldman's TracksIs it us, or shouldn't the braniacs at Goldman Sachs ( GS) know better by now than to send out emails that make them look like vampire squids? A Goldman Sachs executive said the gold-standard investment bank profited by trading ahead of or against its own clients, according to the New York Times Wednesday. Thomas Mazarakis, who leads Goldman's fundamental strategies group, informed select clients in an email that his unit regularly offered investment ideas that the firm had already traded on. The Times also reported Mazarakis as saying that Goldman sometimes takes the other side of the trade, or betting against a particular financial product recommended by the investment bank. "We may trade, and may have existing positions, based on trading ideas before we have discussed those trading ideas with you," the Times quoted Mazarakis as writing in the email. He should have just said, "Heads we win, tails you lose." It would have sounded better.