标题: Executives in Trouble Speaks out on Social Media, Risking Their Defense [打印本页] 作者: choi 时间: 12-23-2015 09:01 标题: Executives in Trouble Speaks out on Social Media, Risking Their Defense 本帖最后由 choi 于 12-23-2015 16:18 编辑
Matthew Goldstein and Alexandra Stevenson, No Comment? Not in Their Playbook; Executives in trouble speaks out on Twitter, risking their defense. New York Times, Dec 23, 2015. http://www.nytimes.com/2015/12/2 ... their-playbook.html
Excerpt in the window of print: A do-it-yourself defense strategy that comes with risks of self-incrimination
Quote:
(a) "It used to be that money managers and entrepreneurs charged with a crime or civil securities fraud would keep their mouths shut and routinely refer any questions to their lawyers.
"But in the age of social media, those days are gone. For some media-savvy defendants there is a new script: They jump on Twitter to tell the world they are innocent, even though lawyers think doing so is a terrible — and legally risky — idea.
(b) "it is gaining favor even though defense lawyers have counseled against it and warned that the strategy could backfire because some things defendants say can be used against them at trial or sentencing.
(c) "This new era of defiance on social media has led to the unusual situation in which the person charged with wrongdoing is the one doing the talking, while the lawyer is often the one to say no comment.
Note:
(a) "Joshua B Newman, a New York entrepreneur charged in a criminal complaint by federal prosecutors with defrauding investors in a number of CrossFit training ventures, has referred on Twitter to having seen 'better days' and quoted Abraham Lincoln saying, 'Folks with no vices have very few virtues.' The case is still pending."
(i) CrossFit https://en.wikipedia.org/wiki/CrossFit
does not mention Mr Newman.
(ii) The full quote is:
"It has become my experience that folks with no vices have very few virtues." Abraham Lincoln
But I can find no context.
(b) "In the case of Ms [Lynn] Tilton, being in the public eye is not new. She has cultivated an image that plays on her role as a powerful executive in the male-dominated private equity industry. 'It’s only men I strip and flip,' she said in the pilot for a reality television show about her life called 'The Diva of Distressed.' "
(i)
(A) Barry Popik, Strip and Flip (Strip ‘n’ Flip). Aug 10, 2009 www.barrypopik.com/index.php/new ... d_flip_strip_n_flip
(" 'Strip and flip' (or 'strip ‘n’ flip') is an investment term that sounds like something out of a gentleman’s club. A company is acquired, reorganized ('stripped' of its nonperforming sectors), and then quickly resold ('flipped'). A 2006 Business Week headline was: 'Buy it, Strip It, Then Flip It.' 'Strip and flip” has been cited in print since 2005")
(B) David Henry and Emily Thornton with David Kiley, Buy it, Strip It, Then Flip It. Bloomberg BusinessWeek, Aug 6, 2006 http://www.bloomberg.com/bw/stor ... rip-it-then-flip-it
("On July 14, less than seven months after the private-equity trio of Clayton, Dubilier & Rice, Carlyle Group, and Merrill Lynch Global Private Equity bought Hertz Corp from the ailing Ford Motor Co for $14 billion, the group filed a preliminary prospectus with the Securities & Exchange Commission to sell shares in an initial public offering. Buyout firms are celebrated for their ability to take on huge debts, buy neglected companies, turn them around over the course of several years, and sell them to public investors for huge profits. Since 2001 they have delivered to their investors annualized returns in excess of 20%, and have attracted record amounts of capital to buy even bigger companies. But the quick 'strip and flip' the Hertz buyout firms are pulling off makes them look more like fast-buck artists than thoughtful turnaround specialists")
(ii) play on/upon someone/ something: "to take unfair advantage of <the candidate played on the voters' prejudices>" http://www.merriam-webster.com/thesaurus/play%20on%20or%20upon