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For the Year Ended December 31, 2010 (Ninety-First Edition)
State of Delaware Office of the State Bank Commissioner Annual Report For the Year Ended December 31, 2010 (Ninety-first Edition) Robert A. Glen Commissioner The Honorable Jack A. Markell Governor of the State of Delaware Tatnall Building Dover, Delaware 19901 Dear Governor Markell: I have the honor of presenting the 91st Annual Report of the State Bank Commissioner for the year ending December 31, 2010. This annual report includes the highlights for 2010, and an overview of our work in maintaining a strong financial services industry and protecting consumers. Detailed financial information about Delaware banks, trust companies, and building and loan associations is included in this report, together with tables, charts and graphs that show the strength of the banking industry in our State. The report also includes information regarding the non-bank businesses and individuals we license to provide financial services to consumers in Delaware. Respectfully submitted, Robert A. Glen State Bank Commissioner TABLE OF CONTENTS Page Year 2010 Highlights 1 Overview of the Office of the State Bank Commissioner Approving Bank and Trust Company Applications 2 Examining Financial Institutions 2 Administering the Bank Franchise Tax 3 Licensing Non-Depository Institutions 3 Licensing Individual Mortgage Loan Originators 4 Responding to Consumer Questions and Complaints 4 Providing Consumer Education 4 The State Banking Code and Regulations The State Banking Code 5 State Bank Commissioner Regulations 5 Organizational Chart 6 State Bank Commissioners 7 Council on Banking 8 Banks, Trust Companies, and Building and Loan Associations Bank and Trust Company Changes 9 Number of Type of Institutions 2009 vs. 2010 11 Assets and Income 2006 – 2010 12 Assets 2006-2010 13 Income 2006-2010 14 Delaware Bank Employees 1987 – 2010 15 Bank Franchise Tax Collections by Fiscal Year 16 List of Institutions 17 Financial Statements of Institutions 20 Edge Act Corporations Located in Delaware 104 Licensed Non-Depository Financial Institutions Number of Non-Depository Institutions 2009 vs. -
Theranos As a Legal Ethics Case Study
Vanderbilt University Law School Scholarship@Vanderbilt Law Vanderbilt Law School Faculty Publications Faculty Scholarship 2021 How and Why Did It Go So Wrong?: Theranos as a Legal Ethics Case Study G. S. Hans Follow this and additional works at: https://scholarship.law.vanderbilt.edu/faculty-publications Part of the Legal Education Commons, and the Legal Ethics and Professional Responsibility Commons DATE DOWNLOADED: Mon May 24 12:25:08 2021 SOURCE: Content Downloaded from HeinOnline Citations: Bluebook 21st ed. G. S. Hans, How and Why Did It Go So Wrong?: Theranos as a Legal Ethics Case Study, 37 GA. St. U. L. REV. 427 (2021). ALWD 6th ed. Hans, G. G., How and why did it go so wrong?: Theranos as a legal ethics case study, 37(2) Ga. St. U. L. Rev. 427 (2021). APA 7th ed. Hans, G. G. (2021). How and why did it go so wrong?: Theranos as legal ethics case study. Georgia State University Law Review, 37(2), 427-470. Chicago 17th ed. G. S. Hans, "How and Why Did It Go So Wrong?: Theranos as a Legal Ethics Case Study," Georgia State University Law Review 37, no. 2 (Winter 2021): 427-470 McGill Guide 9th ed. G S Hans, "How and Why Did It Go So Wrong?: Theranos as a Legal Ethics Case Study" (2021) 37:2 Ga St U L Rev 427. AGLC 4th ed. G S Hans, 'How and Why Did It Go So Wrong?: Theranos as a Legal Ethics Case Study' (2021) 37(2) Georgia State University Law Review 427. MLA 8th ed. -
David W. Sussman, Are Our Pastimes Past Their Time?
SUSSMAN MACRO DRAFT (DO NOT DELETE) 4/4/2017 2:24 PM ARE OUR PASTIMES PAST THEIR TIME? HOW WILL THE MEDIA INDUSTRY DISRUPTION AND CHANGES TO THE LEGAL ENVIRONMENT AFFECT THE SPORTS INDUSTRY? David W. Sussman† CONTENTS INTRODUCTION ............................................................................. 450 I. THE INCREASED REVENUES AND ASSET VALUES OF SPORTS TEAMS HAVE BEEN DRIVEN LARGELY BY INCREASES IN THE RIGHTS FEES PAID BY MEDIA COMPANIES ......................... 453 II. DISRUPTIONS TO THE ECOSYSTEM OF THE ENTERTAINMENT INDUSTRY ........................................................................... 463 A. Technological Disruptions to the Entertainment Industry Ecosystem ................................................................... 468 1. Audience Fragmentation....................................... 468 2. Disintermediation ................................................. 470 3. Shifting Viewership Choices ................................. 471 4. Ad-Skipping ........................................................... 473 5. Time-Shifting ......................................................... 475 6. Copying of Content ............................................... 478 7. Non-Linear Viewing (VOD) .................................. 479 B. Digital Distribution of Content: The Competitive Alternative to Traditional Platforms .......................... 480 1. OTT Distribution Services .................................... 482 2. Other Emerging Technologies .............................. 483 3. Cord Cutting/Cord Shaving -
Squaring Venture Capital Valuations with Reality ONLINE APPENDIX
Squaring Venture Capital Valuations with Reality ONLINE APPENDIX Will Gornall Sauder School of Business, University of British Columbia Ilya A. Strebulaev Graduate School of Business, Stanford University and National Bureau of Economic Research Sept 2017 Find the full paper here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2955455 The online appendix follows. Appendix A contains the alternative names for the unicorns in our sample. Appendix B lists companies whose COIs omit information. Appendix C lists companies where we could not locate the most recent COI. Appendix D contains examples of legal text for each of the major terms. Appendix E details the major terms we found for each company in our sample. Appendix F contains comparative statics. Appendix G contains discussion of our return distribution assumptions. Appendix A: Full Legal Names and Other Names for Unicorns in Our Sample Short Name Legal Name Also Known As 23andMe 23andMe, Inc. A123 Systems A123 Systems, Inc. B456 Systems Actifio Actifio, Inc. Adaptive Biotech Adaptive Biotechnologies Adaptive TCR Corporation Age of Learning Age of Learning, Inc. Airbnb Airbnb, Inc. Airbed & Breakfast, Inc Anaplan Anaplan, Inc. AppDirect AppDirect, Inc. Origo Networks Corporation AppDynamics AppDynamics, Inc. Singularity Technologies, Inc. Appnexus AppNexus Inc. Apttus Apttus Corporation Automattic Automattic Inc. Avant Avant, Inc. Avant Credit Corporation Better Place Better Place, Inc. Better Place Holdings; Better PLC Bloom Energy Bloom Energy Corporation Bloom Energy Server; Ion America Corporation Bloom Energy Bloom Energy Corporation Ion America Corporation Blue Apron Blue Apron, Inc. Petridish Media, Inc. Box Box, Inc. Box.Net Buzzfeed BuzzFeed, Inc. Carbon3D Carbon3D, Inc. EIPI Systems, Inc. -
Apple and Amazon's Antitrust Antics
APPLE AND AMAZON’S ANTITRUST ANTICS: TWO WRONGS DON’T MAKE A RIGHT, BUT MAYBE THEY SHOULD Kerry Gutknecht‡ I. INTRODUCTION The exploding market for books of all kinds in the form of digital files (“e- books”), which can be read on mobile devices and personal computers, has attracted aggressive competition between the two leading online e-book retail- ers, Amazon, Inc. (“Amazon”) and Apple Inc. (“Apple”).1 While both Amazon and Apple have been accused by critics of engaging in anticompetitive practic- es with regard to e-book sales,2 the U.S. Department of Justice has focused on Apple. In 2012, federal prosecutors brought an antitrust suit against Apple and five of the nation’s largest book publishers—HarperCollins Publishers LLC (“HarperCollins”), Hachette Book Group, Inc. and Hachette Digital (“Hachette”); Holtzbrinck Publishers, LLC d/b/a Macmillan (“Macmillan”); Penguin Group (USA), Inc. (“Penguin”); and Simon & Schuster, Inc. and (“Simon & Schuster”) (collectively, the “Publisher Defendants”)3—for collud- ing in violation of the Sherman Act to raise the retail prices of e-books.4 Each ‡ J.D. Candidate, May 2014, The Catholic University of America, Columbus School of Law. The author would like to thank Calla Brown for her daily support and the CommLaw Conspectus staff for their diligent effort during the writing and editing process. Finally, a special thanks to Antonio F. Perez for providing expert advice during the writing of this paper. 1 Complaint at 2–3, United States v. Apple Inc., 952 F. Supp. 2d 638 (S.D.N.Y. 2013) (No. 12 CV 2826) [hereinafter Complaint]. -
N Ieman Reports
NIEMAN REPORTS Nieman Reports One Francis Avenue Cambridge, Massachusetts 02138 Nieman Reports THE NIEMAN FOUNDATION FOR JOURNALISM AT HARVARD UNIVERSITY VOL. 62 NO. 1 SPRING 2008 VOL. 62 NO. 1 SPRING 2008 21 ST CENTURY MUCKRAKERS THE NIEMAN FOUNDATION HARVARDAT UNIVERSITY 21st Century Muckrakers Who Are They? How Do They Do Their Work? Words & Reflections: Secrets, Sources and Silencing Watchdogs Journalism 2.0 End Note went to the Carnegie Endowment in New York but of the Oakland Tribune, and Maynard was throw- found times to return to Cambridge—like many, ing out questions fast and furiously about my civil I had “withdrawal symptoms” after my Harvard rights coverage. I realized my interview was lasting ‘to promote and elevate the year—and would meet with Tenney. She came to longer than most, and I wondered, “Is he trying to my wedding in Toronto in 1984, and we tried to knock me out of competition?” Then I happened to keep in touch regularly. Several of our class, Peggy glance over at Tenney and got the only smile from standards of journalism’ Simpson, Peggy Engel, Kat Harting, and Nancy the group—and a warm, welcoming one it was. I Day visited Tenney in her assisted living facility felt calmer. Finally, when the interview ended, I in Cambridge some years ago, during a Nieman am happy to say, Maynard leaped out of his chair reunion. She cared little about her own problems and hugged me. Agnes Wahl Nieman and was always interested in others. Curator Jim Tenney was a unique woman, and I thoroughly Thomson was the public and intellectual face of enjoyed her friendship. -
The Effect of FOMO on Stakeholder Enrollment
The Effect of FOMO on Stakeholder Enrollment Susan L. Young, PhD Kennesaw State University Kennesaw, GA Ph: 470-578-4536 [email protected] Birton Cowden, PhD Kennesaw State University Kennesaw, GA Ph: 470-578-36781 [email protected] 1 The Effect of FOMO on Stakeholder Enrollment Abstract Stakeholder theory suggests dishonest ventures would struggle with stakeholder enrollment, limiting resource access and ultimately failing. Yet cases exist where amoral entrepreneurs do enroll stakeholders through deceit. We propose “fear of missing out” on an opportunity facilitates enrollment by encouraging stakeholder acceptance of information asymmetry. To illustrate we use exemplar Theranos: a biotech firm which convinced stakeholders it would revolutionize healthcare, rising to a $10 billion valuation through 15 years of sustained deceit. We contribute to theory by demonstrating the dark side of stakeholder enrollment, where opportunism increases venture power over stakeholders, and deceit can endure long past start up. Keywords: stakeholder theory, stakeholder enrollment, entrepreneurial deceit, fear of missing out, legitimacy 2 The Effect of FOMO on Stakeholder Enrollment “Theranos had demonstrated a commitment to investing in and developing technologies that can make a difference in people’s lives, including for the severely wounded and ill. I had quickly seen tremendous potential in the technologies Theranos develops, and I have the greatest respect for the company’s mission and integrity.” (Johnson, 2015) — 4-star General Jim Mattis, U.S. Marine Corps, Retired U.S. Secretary of Defense, 2017-2019 The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh “Sunny” Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance. -
Debates9 963919 9878034 Final Group Paper
Group 9 Against Edison- Potential Patients Kendall Travis, Charles Goff, Jenna Lang, Isaiah Watts Position: Against Edison Perspective: Potential Patients Strategy: Against Edison- Potential Patients Background As appealing as Theranos’s low prices are for blood testing, the cost of that is results that are far from the truth. The lab technicians who work at Theranos have little faith in the tests that they do. They feel criminal, uncertain, and concerned enough to the point where they would never do a test there or allow a family member to. For anyone to work there, non-disclosure agreements have to be signed. Clearly the company is hiding something. And for the many workers who have quit Theranos, they have spoken up about how defective everything is there, knowing it would result in the harassment and hounding from Theranos’s team of lawyers and higher up individuals, a price they were willing to pay to warn potential patients like us. The life-changing effects of Theranos’s work have all been anecdotal claims from Elizabeth Holmes, her work is discovered in isolation, and also her work is impossible to achieve with a single drop of blood according to medical experts. All of these are signs of bogus science that can be tied to Theranos. The list of concerns we have compiled comes from watching The Inventor: Out for Blood in Silicon Valley on HBO. The documentary alone has made it easy for us, as potential patients, to see that Theranos is a fraudulent and unfit company that is unethical for any patient to go to. -
A Work Project Presented As Part of the Requirements for the Award of a Master’S Degree In
A Work Project presented as part of the requirements for the Award of a Master’s degree in Finance from the Nova School of Business and Economics. THERANOS: BETTING ON BLOOD DIOGO JESUS NETO Work project carried out under the supervision of: Paulo Pinho 06-01-2020 Abstract Theranos was a Silicon Valley start-up founded by Elizabeth Holmes in 2003. Holmes claimed to have developed a new blood-testing device that had the potential to revolutionize the healthcare industry. She established partnerships with Walgreens and Safeway to make her technology available nationwide. She also secured a prestigious board of directors and an equally impressive investor base that raised over $700 million at a peak valuation of $9 billion. However, an investigation by The Wall Street Journal revealed the company had misled investors and endangered patients’ lives. In 2018, Theranos collapsed after years of battling lawsuits and federal charges. Keywords: Theranos, Corporate Governance, Fundraising, Due Diligence This work used infrastructure and resources funded by Fundação para a Ciência e a Tecnologia (UID/ECO/00124/2013, UID/ECO/00124/2019 and Social Sciences DataLab, Project 22209), POR Lisboa (LISBOA-01-0145-FEDER-007722 and Social Sciences DataLab, Project 22209) and POR Norte (Social Sciences DataLab, Project 22209). 1 Theranos: Betting on Blood “One of the most epic failures in corporate governance in the annals of American capitalism”. - John Carreyrou1 On June 28, 2019, a crowd of journalists awaited Elizabeth Holmes at the door of the San Jose Federal Court in California for a pre-trial hearing2. She was accused of engaging in a multi-million- dollar scheme to defraud investors, doctors, and patients alongside her former partner, Ramesh “Sunny” Balwani. -
BAD BLOOD John Carreyrou May 21St, 2018
BAD BLOOD John Carreyrou May 21st, 2018 OVERVIEW: In Bad Blood, Wall Street Journal reporter John Carreyrou details his investigation of Theranos, a former unicorn medical device company, exposing the company’s manipulation and outright fraud all seemed to overlook. - - - - - - - - - A UNICORN IS BORN: As Carreyrou describes, Elizabeth Holmes was well known for her fierce determination ingrained from an early age. Even before her teenage years had commenced, she declared her intention that she wanted to be a billionaire someday. Part of this motivation stemmed from her affluent and entrepreneurial family background. Impressed by her creativity and persistent drive, Holmes’ faculty mentor during college at Stanford – Channing Robertson – told her to “go out and pursue her dream.” That required advanced technology, yet Holmes’ scientific background consisted of a year at Stanford and an internship in a medical testing lab. Regardless, she conceived and patented the TheraPatch. Affixed to a patient’s arm, it would take blood painlessly through tiny needles, analyze the sample, and deliver a suitable drug dosage. Through her family connections into the venture capital world, she was able to raise $6 million from investors by the end of 2004, but it soon became clear that developing the patch was not possible. Undeterred, Holmes’ next idea was to have a patient prick a finger and put a drop of blood into a cartridge the size of a credit card though thicker. This would go into a “reader,” where pumps propelled the blood through a filter to hold back the red and white cells. The pumps would then push the remaining liquid plasma into wells where chemical reactions would provide the data to evaluate the sample. -
UPDATED 09.20.12 WNET Amgradday CPB Fact Sheet Nat'l
Contact: Donna Williams WNET New York Public Media 212-560-8030; [email protected] American Graduate Day Web site: www.americangraduate.org/grad-day American Graduate Day Fact Sheet Program Title: American Graduate Day Airdate: Saturday, September 22, 2012 from 1:00-8:00 pm ET on public television Program description: American Graduate Day Presented by WNET and Public Radio Exchange (PRX ), American Graduate Day is a multi-platform event featuring a live television broadcast, radio playlist with premiere documentaries, and participation from more than 20 national partner organizations, celebrities and athletes to spotlight solutions to the nation’s dropout crisis in which one in four students do not finish high school. Viewers and listeners will be encouraged to become an “American Graduate Champion” by offering their time, donating resources, connecting with the organizations on social media or learning more about the crisis. With special guests including Michael Powell, representing America’s Promise Alliance , and PBS NewsHour senior correspondent Ray Suarez, the national television broadcast will air live on public television stations from the Tisch WNET Studios at Lincoln Center from 1:00 to 8:00 p.m. EST on Sept. 22 (check local listings). Participating public television stations around the country will take the live feed and have an opportunity to add local content to support the national broadcast. American Graduate Day highlights community partners, educators and youth, who help keep at-risk students in school, across the nation. Each community partner profiled will provide viewers with information on how to become involved with American Graduate and the featured organizations. -
Theranos' Bad Blood
Theranos’ Bad Blood In 2003, Stanford University student Elizabeth Holmes founded the health care company Theranos. The goal of the company was to revolutionize health care. Beginning with the goal of creating a patch to deliver drugs, the company instead shifted focus to developing a simple and effective method for blood diagnosis. Holmes dropped out of Stanford and began raising millions of dollars in funding. The company claimed that its technology could offer over 240 tests from just a prick of the finger. Test results could be delivered to a patient’s phone in hours, and a single test would cost less than half of the reimbursement rate of Medicare and Medicaid. Blood could be diagnosed easily without the need for many vials of blood drawn from patients’ veins or expensive lab work. By 2014, the company was valued at $9 billion, of which Holmes held a majority stake. Many investors backed the company based on the promise of the technology. Holmes received glowing profiles in news magazines, was featured on television shows, and presented keynote addresses at tech conferences. But the excitement of investors and the promise of the technology did not translate into success. Operating largely in a cloak of secrecy, the company could never validate its claims about its blood sampling technology, and many of its lab results went unchecked. In 2015, journalist John Carreyrou investigated the company for an article in The Wall Street Journal. He disclosed problems in the company’s equipment and testing methods. He found that the company did not even use its own technology in tests and often relied on older technology from other companies.