Take the options-backdating scandal that has claimed such CEO scalps as that of Comverse's (Charts) Kobi Alexander (currently fighting extradition from Namibia), United Health's (Charts) William Mc Guire (ousted after 14 years of spectacular success) or KB Home's (Charts) Bruce Karatz (who voluntarily stepped down and agreed to pay the difference for incorrectly priced grants).
"Lucky Strikes" was the title of the event - organized by Stanford's Rock Center for Corporate Governance, of which Grundfest is faculty director - and much of the jargon was along similarly flip lines.
"Bullet dodging," for example, is the term for delaying options grants until just after the release of bad news (or moving up the release of bad news to precede an already scheduled grant).
The dates had been disclosed before, but only in mailed-in filings that no one ever looked at.
To corporate America, the new rule was a minor hassle; to a first-year New York University finance professor named David Yermack, it was a new source of interesting data.
Then there's the realization that, even before Lie's backdating bombshell, scholars suspected that executives were using insider information for financial gain in timing options grants and news releases.
Does that make backdating just the most obviously illegal tip of an iceberg of dodgy corporate behavior?
As Grundfest reeled off these terms, I and the reporter sitting next to me giggled, mainly because they sounded so much like something from a diving meet.
("She's going to attempt a reverse double asymmetric spring-loader and ... ") But the distinctions may make all the difference, legally speaking.
(Fortune Magazine) -- It is never really a shock to find executives enriching themselves at shareholders' expense.