Weisel: Layoffs & SEC Fine For Conflict Of Interest

from recent news reports: As of 13 March, Thomas Weisel Partners LLC is laying off staff, with at
least 100 employees will be fired of the total of 600 employees on the payroll. In February, Weisel
a $12.5 million fine was levied by the S.E.C. for TWP's share of a settlement with federal and
California regulators over conflicts of interest between TWP's investment banking and stock research
department. Weisel initially balked at a huge $60 million fine, which it claimed would force it out
of business and eventually this was reduced to $12.5 million.

Meanwhile, back in in New York, U.S. District Judge Shira Scheindlin refused to dismiss lawsuits
against various investment banks and the companies they took public during the IPO boom from 1998 to
2000. Thisis the same conflict of interest case cited above, with numerous complaints about the
stocks of hundreds of companies taken public during that time by investment banks such as Goldman
Sachs and San Francisco's Thomas Weisel Partners LLC.

Allegations involve the stocks of some of Silicon Valley's biggest names, including Agilent
Technologies, Covad, Critical Path and TiVo. No word yet whether layoffs will affect Tailwind
Sports, Weisel's sports marketing firm that owns Lance Armstrong's USPS cycing squad. However,
another conflict of interest may exist vis a vis Weisel's involvement in USA Cycling, as his
employee Jim Ochowicz is also the President of USA Cycling.

With conflict of interest seemingly business as usual at TWP, how can Ochowicz maintain his job
there and his USA Cycling job? Won't Weisel lay him off if Ochowicz doesn't do what Weisel wants?

 

like from what sources....

the national inquirer... the world news? if your gonna post something as reported, you should credit
the sources.

"NikeCycling" <[email protected]> wrote in message
news:[email protected]...
> from recent news reports:

 

"NikeCycling" <[email protected]> wrote in message
news:[email protected]...
> from recent news reports: As of 13 March, Thomas Weisel Partners LLC is laying off staff, with at
least

So, who are you? And what sources?

> 100 employees will be fired of the total of 600 employees on the payroll.
In
> February, Weisel a ...

 

'Round and 'round the cobbler's bench The monkey chased the weasel, The monkey thought 'twas all in
fun Pop! Goes the weasel.

A penny for a spool of thread A penny for a needle, That's the way the money goes, Pop! Goes
the weasel.

A half a pound of tupenny rice, A half a pound of treacle. Mix it up and make it nice, Pop! Goes
the weasel.

Up and down the London road, In and out of the Eagle, That's the way the money goes, Pop! Goes
the weasel.

I've no time to plead and pine, I've no time to wheedle, Kiss me quick and then I'm gone Pop! Goes
the weasel.

NikeCycling wrote:
>
> from recent news reports: As of 13 March, Thomas Weisel Partners LLC is laying off staff, with at
> least 100 employees will be fired of the total of 600 employees on the payroll.

 

"NikeCycling" <[email protected]> wrote in message
news:[email protected]...
> from recent news reports: As of 13 March, Thomas Weisel Partners LLC is laying off staff, with at
least

<news from info released yesterday snipped >
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2003/03/13/fina ncial1627EST0239.DTL

The news releases I have seen make no mention of any links to Tailwind or TWP's sports marketing
firm, or any relationship Jim Ochowicz has with TWP. What is the point of your speculation?

Glenn Butzlaff

 

NikeCycling <[email protected]> wrote:
> With conflict of interest seemingly business as usual at TWP, how can Ochowicz maintain his job
> there and his USA Cycling job? Won't Weisel lay him off if Ochowicz doesn't do what Weisel wants?

- What makes you think that Och won't do what Weisel wants? Whatever you may think of him, he's
not stupid.

- What makes you think that maintaining financial control of an Olympic governing body is illegal?
Read Prouty's book if you think cycling is unique in that respect. Corruption is the currency of
the American Olympic movement.

I'm involved with a race that has inline skate races on the schedule along with bike races. At a
planning meeting we were discussing USAC and I told the skaters that if inline skating ever hit the
Olympics they would be astounded at how quickly the sport would change.

Bob Schwartz [email protected]

 

"Ken McKisson" <[email protected]> wrote in message news:<[email protected]>...
> like from what sources....
>
> the national inquirer... the world news? if your gonna post something as reported, you should
> credit the sources.
>
>
> "NikeCycling" <[email protected]> wrote in message
> news:[email protected]...
> > from recent news reports:

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030313/ap_on_bi_ge/thomas_weisel_layoffs_1

have at it.

ml

 

In article <[email protected]>, "Ken Papai" <[email protected]> wrote:

> "NikeCycling" <[email protected]> wrote in message
> news:[email protected]...
> > from recent news reports: As of 13 March, Thomas Weisel Partners LLC is laying off staff,
> > with at
> least
>
>
> So, who are you? And what sources?

http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2003/03/13/f inancial1627EST0239.DTL

> > 100 employees will be fired of the total of 600 employees on the payroll.
> In
> > February, Weisel a ...
>
>
>

--
Steven L. Sheffield stevens at veloworks dot com veloworks at worldnet dot ay tea tee dot net bellum
pax est libertas servitus est ignoratio vis est