Stanford Financial Clippings

Steve Elling labels the Stanford Financial charges a disaster and Bob Harig manages to wrangle a quote out of the LPGA spokesman who says they are monitoring the situation.

Geoff Caulkins talks to a FedEx briefcase and it sure sounds like the air freight giant is already in talks to rescue the Memphis stop they once sponsored.

Martha Graybow of Reuters says the case raises new questions about the SEC. But I found some of the timing mentioned interesting considering the LPGA just recently signed up (Nov. 19) Stanford for its Tour Championship despite this:

A complaint filed last year against Stanford's firm by two former employees contended they were aware of a U.S. Securities and Exchange Commission inquiry into the firm's sales practices while they worked there.

The employees, Mark Tidwell and Charles Rawl, said in their Texas state court lawsuit that they left rather than participate in unlawful business practices. They departed in late 2007.

A Guardian blog post by Andy Bull examines the likelihood of poor due diligence performed by the England and Wales Cricket Board before taking Stanford's sponsorship money. So will questions will be raised about the due dilligence carried out by the PGA and LPGA Tours who are so visibly leaning on Stanford?

More immediately, the Stanford Financial "Eagles for St. Jude" spots should prove to be uncomfortable for the Golf Channel anchor who has to note the program. As should future airings of these ads: