MediaFile

Disney’s dodgy boyfriend problem

Psst! Wanna buy a cheap stock?

For the second time in just over a year another boyfriend of a Disney staffer has been accused of insider trading.

Yesterday, hedge fund manager Toby G Scammell (seriously, that’s his name, you couldn’t make this stuff up) was sued by Federal regulators who alleged he used secret information obtained from his girlfriend to make $192,000 off the Walt Disney Co’s $4 billion acquisition of Marvel Entertainment in 2009.

Scammell’s girlfriend of two years was an intern in Disney’s corporate strategy department and worked for six months on the deal.

Last year an executive assistant to Disney’s corporate communications head Zenia Mucha  got caught up in a similar pile of insider mess. Bonnie Hoxie and her  boyfriend Yonni Sebbag were sentenced earlier this year after sending emails and form letters to some 33 investment firms offering to sell inside information from Disney’s quarterly earnings and tips about plans to sell its ABC TV network to private equity firms.

Disney, known for its buttoned-down, loyalty-first corporate culture particularly under Bob Iger, might want to start researching staffers’ relationship status more deeply during the recruitment process.

Apple secrets at center of insider trading case

APPLE/The blockbuster insider trading case that shook Silicon Valley and Wall Street on Thursday likely gave Steve Jobs, Apple’s famously secretive CEO, a healthy case of heartburn this morning.

Four people were arrested on charges of leaking tech secrets to hedge funds–including details about Apple’s iPad months before Jobs took the tablet computer onstage with him to formally show off to the world.

According to the complaint, in October of last year, Walter Shimoon — who worked for Apple supplier Flextronics — was recorded in a phone conversation leaking information that tech geeks around the world lust for.

Bonnie and Yonni — Disney dynamic duo, immortalized

Bonnie and Yonni are unlikely to go down in the history books as among the nimblest of partners-in-crime. But they might have earned a prominent place among the most candid.

Accoding to U.S. prosecutors, Bonnie Hoxie — an assistant to Disney’s PR chief — and boyfried Yonni Sebbag hatched a less-than-elaborate scheme in which she gets her hands on confidential and potentially stock market-moving material   –  Disney financial information — and passes it on to Sebbag.  Like the Wall Street equivalent of a pusher, Sebbag set out to construct a network of hedge-fund consumers for that info who could  then profit off of it, according to court documents filed.

Set for life. Easy.

Thing is, on the day of the alleged crime (the release of Disney’s second quarter earnings), Hoxie — according to prosecutors — sent messages to Sebbag from her work email account and from her personal cellphone.  Several of the hedge funds contacted by Sebbag — perhaps spooked by the ever-widening fallout from the Galleon insider trading probe — went straight to the Feds. Sebbag himself got fooled by an undercover FBI agent into a face-to-face meeting in New York during which money allegedly changed hands. He told the agent he’d suspected others that had contacted him of being Feds (he was right there).

from Commentaries:

The guessing game ahead of Dell-Perot deal

Dell Perot puzzle pieceIn retrospect, it's easy to say we could have guessed it:

Why didn't some investors put 2+2 together and figure out that Perot Systems might be a target for Dell -- before that is, Dell announced its $3.9 billion cash deal to buy Perot.

Looking back at Perot's share performance, the stock has been building up momentum since July, despite warning of weak earnings in its August 4 quarterly report. The stock, which traded under $15 throughout the first half of the year, had built to $18 by last week. Perhaps this was early optimism about 2010 prospects. But the other explanation is some timely speculation that Perot was a logical target for fellow Texan company Dell.

Dell had made little secret of its plans to acquire computer services and software companies for months. Executives had dribbled out hints about what kind of targets it was after in the weeks and months leading up to the September 21 news.