Broadcom Uncovers More Option Errors
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IRVINE, Calif. -- Broadcom Corp., a supplier of chips used in communications devices, said Friday it may need to record expenses starting at $1.5 billion for stock option accounting flaws, double what it had estimated in July.
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By The Orange County Register, Calif.  Feb. 10--Four directors of Broadcom Corp. received a total $275,000 in  extra compensation for serving on the audit committee that investigated the  company's stock options awards.   The committee chairman, George L.
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Federal officials investigating  stock-options backdating at Broadcom Corp.  are looking  into allegations that former Chief Executive Henry Nicholas III  used hard drugs and hired prostitutes, the Wall Street Journal  reported on Friday.
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Avoiding errors In a recent article here in The Register we saw some of the problems that result when floating point numbers are misused or chosen inappropriately.â¦
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By Mary Ann Milbourn, The Orange County Register, Calif.  Dec. 18--Chipmaker Broadcom Corp. announced today that it cancelled more  than $37 million in stock options for three former employees after finding  that they actively selected the grant dates after the fact.
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Software update patches bug in wireless drivers that left systems vulnerable.
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Wireless chip company Broadcom Corp.  said on Monday that federal securities regulators had launched a formal investigation of its stock option practices.
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Blog: Many of the patches address flaws within QuickTime for Java.
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Plus: More Office holes, and a major Adobe problem that affects all browsers.
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Under investigation for stock options backdating, the computer chip maker discovered more irregularities that will double its expenses.
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By Jennifer Davies, The San Diego Union-Tribune  Dec. 12--In the latest round of an ongoing legal battle between the  wireless chip makers, the U.S. International Trade Commission ruled yesterday  that Qualcomm is infringing on a patent held by rival Broadcom.
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A likely cause of Genesis&#39; failure appears to be four so-called gravity switches that were installed backward because of errors in Lockheed Martin&#39;s design drawings.
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The firm has rated the flaw as moderately critical. It demonstrated the flaw on its site, with options for both users who use pop-up blockers and those who don&#39;t.
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The failure to expense stock options is causing distortions and inefficiencies in U.S. labor and capital markets.
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Irregular hors d'ouevres, scheduling mishaps, and the stockbroker's eternal dilemma.
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Blog: Researcher finds a basic cookie-handling error that could compromise Windows PCs.
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(InfoWorld) - Broadcom's accounting woes have deepened as the networking chip company examined more stock-option grants that apparently were backdated. In July, Broadcom said it found irregular stock-option grants made from 2000 to 2002Â and expected to take more than $750 million in additional compensation expensesÂ because of those grants. On Friday, the company said it found other questionable stock-option grants awarded between June 1998 and May 2003. Now Broadcom expects those additional compensation expenses to be at least twice as big. The company also expanded its restatement of past financial results. It had previously expected to restate results for 2000 through the first quarter of 2006, and now it also believes its results for 1998 and 1999 will need to be restated. Broadcom is one of many high-tech companies to be hit with problems related to backdating of stock options during the heyday of the high-tech economy. In backdating, companies move the date of a stock-option grant to a time when the company's stock was worth less, in order to give the employees a greater gain when they cash in. Apple Computer Inc., Rambus Inc., McAfee Inc. and other companies are embroiled in controversy over apparent backdating. The audit committee of Broadcom's board of directors is continuing a voluntary review of the Irvine, California, company's compensation practices with the help of outside counsel, and it hasn't reached any conclusions, Broadcom said in a press release on Friday. Broadcom said it made the grants during a time when it was hard to attract the best high-tech talent and that about 95 percent of the grants went to employees other than executive officers.