shakedown
Latest
AT&T seeing executive shakedown?
Details are still shaky, but GigaOM is reporting that the futures of certain AT&T executives may also be dubious. In addition to a recently replaced CTO and recently departed USi CEO, apparently VPs are being offered exit packages or demotions (their choice!), possibly to trim some of the fat at the top of the pyramid before the US economy gets any crappier. We can't say for sure, but hey, those billions of dollars in 700MHz auction funds have to come from somewhere -- immediately, too, you don't want the FCC sending over hundreds of goons to kneecap thousands of employees. AT&T had no comment on matters both of downsizing and the FCC's mafia-like collection practices.
Samsung's Korean headquarters raided by police
Samsung just can't seem to keep itself out of hot water these days. On the heels of its chairman's home raid, it now appears that the Samsung Group headquarters have also been the target of a shakedown. Apparently, the flurry of activity is all related to an ongoing probe into accusations that the electronics-maker is responsible for a slush fund used to bribe influential prosecutors, judges, and political figures. The charges are being lobbed by Kim Yong-chul, a former legal affairs official at Samsung, who claims that the conglomerate used some 200 billion won ($215 million) to fund the shady dealings. The company denies the accusations, of course, though Chairman Lee Kun-hee has been convicted of bribery before in Korean courts... so, uh, this isn't looking good.
