An Apple Exec Is Going To Prison For Taking Kickbacks On Leaked Information (AAPL) | ||
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Devine had been leaking information about Apple's upcoming products to Asian suppliers who then used that info to their advantage in contract negotiations with Apple. The info was about headsets and iPod parts. When he was arrested, the FBI found $150,000 in cash stuffed into shoeboxes inside his house, CNET reported. Here's a copy of the original indictment against Devine. Devine was indicted in 2010 and pled guilty in 2011 to charges of wire fraud and conspiracy, and forfeited $2.3 million in gains. He also sold a 2005 Porsche Cayenne in order to repay the money. Apple had also sued him for the money in civil court. Devine's pre-sentencing memo said that he had grown up with a fear of economic insecurity due to the fact that his Korean father was a drunk who abandoned his mother.
One possible answer is that Devine was cooperating with the feds in an investigation of Apple's Asian suppliers and their American partners. Devine faced 20 years in prison but only got a fraction of that in sentencing. It is often the case that criminals will get lower sentences if they work with prosecutors to uncover other criminals involved in their schemes. We cannot say that for sure, however. That's because the federal court docket for the case is riddled with sealed documents — which is relatively unusual for straightforward white-collar crimes. It is not, however, unusual for cases involving Apple, which has a history of asking courts to seal documents in order to guard its proprietary information. The docket doesn't contain any motions from Apple or federal prosecutors asking for documents to be sealed. Usually, judges make rulings with specific findings of fact and law before allowing public documents to be hidden from view. No ruling appears on the docket, yet the documents were sealed anyway. (A federal appeals court in a different jurisdiction ruled against this practice in 2013.) Apple is known to hate it when its own employees leak information. It once persuaded its sapphire glass supplier to sign a contract requiring it to pay a fine of $50 million for any leak to the press. Join the conversation about this story »  | ||
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Paul Shim Devine, a former global supply manager for Apple, was sentenced to one year in prison 
After Syria strikes, Israel vows to deny arms to 'terrorists' | ||
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Jerusalem (AFP) - Israel said Monday it will not allow "sophisticated weapons" to fall into the hands of its enemies, after furious claims from Syria that Israeli warplanes carried out air strikes near Damascus. The Jewish state refused to confirm or deny the strikes, but its forces have previously targeted weapons allegedly destined for arch-foe Lebanon's Hezbollah. The two strikes on Sunday, including one on the country's main international airport, were fiercely condemned by Damascus, which called for UN sanctions against Israel. Asked about the strikes on public radio, Intelligence Minister Yuval Steinitz refused to comment directly but stressed Israel's policy of preventing arms transfers to militant groups. "We have a firm policy of preventing all possible transfers of sophisticated weapons to terrorist organisations," Steinitz said, in a clear reference to the Shiite militant group Hezbollah. Israel has launched a series of air strikes inside Syria since the outbreak of the country's armed uprising in 2011, including raids reportedly targeting Iranian rockets bound for Hezbollah. The Syrian army said Sunday's strikes by "the Israeli enemy" had targeted two areas near the capital, including Damascus International Airport, which is used by both civilian and military aircraft. It said the strikes caused damage but that nobody was hurt. "This direct aggression by Israel was carried out to help the terrorists in Syria," the army said, using the regime's collective term to refer to peaceful opponents, armed rebels and jihadists fighting in Syria. There was no threat of retaliation, but the Syrian foreign ministry said it had asked UN Secretary General Ban Ki-moon and the Security Council to impose sanctions on Israel, describing the strikes as "a heinous crime against Syria's sovereignty". According to the Britain-based Syrian Observatory for Human Rights, which monitors the conflict, both of the targeted sites were used for military purposes. "Both were military sites, and weapons were being stored there," Observatory director Rami Abdel Rahman told AFP.
- 'Opening salvo' of election? -
Syria's regime is a close ally of Hezbollah, which has launched numerous attacks against Israeli forces and in 2006 fought a month-long war with the country. The movement has fought alongside the forces of Syrian President Bashar al-Assad, whose Alawite sect is an offshoot of Shia Islam, against the mainly Sunni fighters opposing his regime. Damascus has accused Israel of carrying out several air raids on its territory since the beginning of 2013, including one in the Quneitra region of the disputed Golan in March that killed a soldier. Israeli media said the latest raid had targeted weapons such as anti-tank rockets and surface-to-air missiles meant to be delivered to Hezbollah. There was little doubt among Israeli commentators on Monday that the country had carried out the strikes. "There must have been a brief window of opportunity yesterday and the decision to strike was taken," Israeli army radio said. Some Israeli opposition figures raised questions about the timing of the strikes, which came after Prime Minister Benjamin Netanyahu called early elections. Netanyahu is looking to shore up his support on the right ahead of primaries for his Likud party and the snap vote in March. "I hope this isn't the opening salvo of the campaign for the Likud primaries and the next elections," Ilan Gilon of the leftwing Meretz party said. Steinitz dismissed claims of any political motive. "Those who accuse Netanyahu of having ordered a bombing in Syria as a political strategy are ridiculous and harmful," he said. The Syrian conflict, which evolved from a pro-democracy movement into a full-blown civil war, is estimated to have killed more than 200,000 people and forced half the population to flee their homes. Join the conversation about this story »  | ||
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Oil Just Crashed To A 5-Year Low | ||
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The oil price crashed to a new low this morning. At the time of writing Brent was 2.08% down on Monday and is currently being traded at $67.74. In earlier trading it hit $67.44, a new record low not seen since 2009. US benchmark WTI Crude is in similar shape, losing 1.75% of its value on Monday falling to just below $65 a barrel.
The chart below shows the devaluation of oil since it hit a record high in June this year. Brent fell from $115 to its current $67, a drop of around 40%.
On Monday, Morgan Stanley adjusted its forecasts for oil prices, saying saying oversupply will likely peak next year with OPEC deciding not to cut output. Join the conversation about this story »  | ||
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An Apple Exec Is Going To Prison For Taking Kickbacks On Leaked Information (AAPL) | ||
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Devine had been leaking information about Apple's upcoming products to Asian suppliers who then used that info to their advantage in contract negotiations with Apple. The info was about headsets and iPod parts. When he was arrested, the FBI found $150,000 in cash stuffed into shoeboxes inside his house, CNET reported. Here's a copy of the original indictment against Devine. Devine was indicted in 2010 and pled guilty in 2011 to charges of wire fraud and conspiracy, and forfeited $2.3 million in gains. He also sold a 2005 Porsche Cayenne in order to repay the money. Apple had also sued him for the money in civil court. Devine's pre-sentencing memo said that he had grown up with a fear of economic insecurity due to the fact that his Korean father was a drunk who abandoned his mother.
One possible answer is that Devine was cooperating with the feds in an investigation of Apple's Asian suppliers and their American partners. Devine faced 20 years in prison but only got a fraction of that in sentencing. It is often the case that criminals will get lower sentences if they work with prosecutors to uncover other criminals involved in their schemes. We cannot say that for sure, however. That's because the federal court docket for the case is riddled with sealed documents — which is relatively unusual for straightforward white-collar crimes. It is not, however, unusual for cases involving Apple, which has a history of asking courts to seal documents in order to guard its proprietary information. The docket doesn't contain any motions from Apple or federal prosecutors asking for documents to be sealed. Usually, judges make rulings with specific findings of fact and law before allowing public documents to be hidden from view. No ruling appears on the docket, yet the documents were sealed anyway. (A federal appeals court in a different jurisdiction ruled against this practice in 2013.) Apple is known to hate it when its own employees leak information. It once persuaded its sapphire glass supplier to sign a contract requiring it to pay a fine of $50 million for any leak to the press. Join the conversation about this story »  | ||
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Falcao must accept substitute role - Van Gaal | ||
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London (AFP) - Manchester United manager Louis van Gaal has declared that Radamel Falcao must content himself with a bit-part role as the on-loan Colombian striker works his way back to full fitness. Falcao has played for only 283 minutes since signing from Monaco on transfer deadline day and has scored just once, in a 2-1 win over Everton in early October. The 28-year-old is short of sharpness following a month-long absence with a calf problem and Van Gaal told the Monday editions of several British newspapers that he will have to bide his time. Falcao is expected to be named on the bench when United visit Southampton in the Premier League later on Monday, and when asked if the striker was happy with that, Van Gaal replied: "I am not interested in that. He has to follow my philosophy. Do you understand that? I am here because of that. "I have selected him in spite of the fact he can only play for 20 minutes, because the rhythm of the game in the Premier League is the highest. "It's match fitness (he needs). It would be a better contribution if he played with the second team, but I cannot do that because on Tuesday we had the match against Stoke and Wayne Rooney was injured. "I had to adapt to the needs of the selection (squad)." Despite Rooney missing the 2-1 win over Stoke due to a knee injury, Van Gaal selected 19-year-old James Wilson to partner Robin van Persie in attack, rather than Falcao. Falcao has scored goals at a prolific rate for Porto, Atletico Madrid and Monaco, but he has not played regularly since damaging his anterior cruciate ligament in January. Join the conversation about this story »  | ||
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Report: 'Gold-Obsessed' Chinese Officer's Graft Case Worth $5 Billion | ||
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BEIJING (Reuters) - A former senior Chinese military officer was obsessed with gold and often ferried gold bars for bribes in a luxury car, a Hong Kong magazine reported on Monday, in connection with a graft case which investigators estimate is worth some $5 billion. The government charged Lieutenant General Gu Junshan, who had been deputy director of the logistics department of the People's Liberation Army, with corruption in March, and he is suspected of selling hundreds of military positions. Phoenix Weekly, a magazine run by Hong Kong broadcaster Phoenix Television which has close ties with the Chinese government, said that total ill-gotten gains amounted to some 30 billion yuan ($5 billion), including about 600 million yuan in bribes accepted by Gu. Gu also loved gold, especially gold statues of Buddha, though he preferred receiving ground up gold rather than gold bars when he was taking bribes, the magazine added, in a story widely carried by mainland Chinese news websites. When offering gifts, he would fill up a Mercedes with hundreds of bars of gold and then simply hand over the car keys to the recipient, the report said. "Gu got exactly what he wanted," a person with knowledge of the probe told the magazine. Gu's case is connected to Xu Caihou, who retired as deputy head of the powerful Central Military Commission last year and from the ruling Communist Party's decision-making Politburo in 2012. Xu's graft probe was announced in June. The magazine said that Gu had powerful patrons, though did not name Xu directly, referring only to a person called "X". It has not been possible to reach either for comment and it is not clear if they have lawyers. President Xi Jinping has launched a sweeping campaign against graft since becoming party chief in late 2012 and president last year, vowing to take down powerful "tigers" as well as lowly "flies". He has made weeding out corruption in the military a top goal. It comes as Xi steps up efforts to modernize forces that are projecting power across the disputed waters of the East and South China Seas, though it has not fought a war in decades. (Reporting by Ben Blanchard; Editing by Nick Macfie) Join the conversation about this story »  | ||
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S. African judge throws out murder case against Shrien Dewani | ||
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Cape Town (AFP) - A South African judge on Monday acquitted millionaire British businessman Shrien Dewani of murdering his bride on their honeymoon, saying the state had not adequately made the case against him. Judge Jeannette Traverso said that prosecutors arguments had "fallen far below" the level needed to secure conviction, paving the way for Dewani to walk free.
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A Massive Apartment Fire In Los Angeles Has Shut Down 2 Major Freeways | ||
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An apartment complex in downtown Los Angeles burned early Monday morning in a fire that has shut down parts of two major freeways in the city, according to the Los Angeles Times. The complex was reportedly under construction at the time of the fire. Transition lanes between the 110 and 101 freeways have been shut down, the state highway patrol told the Times. The fire can be seen for miles. No injuries have been reported so far. It's not yet clear what started the fire, which started shortly before 1:30 a.m. PT, KTLA reports. More than 200 firefighters are on scene, according to the Times. Here are some photos and videos of the fire: — Jon Passantino (@passantino) December 8, 2014 This post will be updated with new developments. Join the conversation about this story »  | ||
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People Are Complaining That The McVitie’s Fluffy Animal Ad Could Encourage People To Buy — And Then Abandon — Their Pets At Christmas | ||
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UK biscuit brand McVitie’s commercial starring a menagerie of fluffy animals has been a runaway Christmas advertising hit, causing a nation to collectively “aww.” But the ad has incurred the wrath of animal lovers. McVitie’s Facebook pages and the comments under the YouTube video have been flooded with people accusing the brand of being irresponsible for featuring cute animals at a time of year when many pets are bought, only to be discarded once the festive cheer wears off and people realize they have to actually look after the things. Here are some of the complaints on McVitie's Jaffa Cakes brand page:
The Advertising Standards Authority (ASA) has also received 44 complaints about the ad. That might seem like a small number, but it only takes one complaint for the ad watchdog to launch an investigation and potentially ban the ad (however, those investigations are often a lengthy process and often an adjudication occurs after the ad campaign has run its course anyway.) The ASA told Business Insider: “We are carefully assessing the complaints to establish if there are grounds for further action.” Some of the complaints raised also expressed concern about a section of the ad that featured a rabbit lying on its back, which the complainants believe cause the animal distress. As a result of those complaints, McVitie’s edited ad on Friday, removing that scene from both the TV and online version. Indeed, “abby.mercer,” who commented on Business Insider’s article about the ad wrote: “Rabbits laying like that are experiencing tonic immobility, a last ditch survival instinct which is an attempt to play dead in the hope that the predator will release them. It causes rapid changes in heart rate and increased stress.” She later went on to encourage people to complaint to the ASA, flood McVitie’s #sweeetChristmas hashtag and tell the brand they disagreed with the use of animals in the ad on its Facebook page. United Biscuits, owner of McVitie’s, has published this statement on its website: "We can confirm that no animals were harmed in the making of the McVitie’s Victoria Christmas ad. We had a professional vet and handlers on set overseeing all the filming to ensure the welfare of the animals was our top priority. The professionals on set have confirmed that in their opinion the rabbit filmed was absolutely not in a state of tonic immobility or “trancing”; the camera angles used in the filming are clearly misleading. However, we understand that the ad could mislead people into thinking that putting a rabbit on its back is recommended, when this is not the case. We have therefore taken the decision to remove this scene in the ad as soon as we can. We’d like to thank anyone who raised this issue with us and would like to remind the public that they should follow professional advice as to how to best handle animals in specific circumstances including from The Rabbit Welfare Association and Fund – www.rabbitwelfare.co.uk." Here's the edited ad in full:
SEE ALSO: Business Insider’s 10 Best Ads Of 2014 Join the conversation about this story »  | ||
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