Comments on: Former Monster COO Guilty Of Stock Fraud

By: Former Monster Exec Gets Two Years In Stock Fraud Case : ERE.net

Former Monster Exec Gets Two Years In Stock Fraud Case : ERE.net — Thu, 03 Sep 2009 23:49:31 +0000

[...] Former Monster president and COO James Treacy has been sentenced to two years in federal prison on his conviction in May of stock options fraud. [...]

By: Gerry Crispin

Gerry Crispin — Wed, 05 Aug 2009 22:03:45 +0000

Evin. The stock option manipulations were so widespread I have no doubt many participants viewed themselves as victims.
I’ve also no doubt that Jim is probably a good person at heart. I also am a person who has made dumb moves in my life and so am not one to judge any individual as either good or bad.
But the actions of an individual can and should be judged and the consequences of participating have to be accepted and paid.

The hundreds of Financial, HR and Executive officers who literally stole the investments of joe public (and I certainly include myself in that group) by illegally manipulating their stock through greed and arrogance need to be held accountable- no less than the
Madoff.

Ignorance, pasive acceptance of a windfall, all of the rationales a unacceptable excuses of smart people looking the other way and failing the test of critical intelligence…for which they were paid big bucks.

If they don’t go or lucked out and didn’t get sent to jail, I would list each and every name and short the stock of every company that had the temerity to hire them.

They offer a new definition to the term hubris.

By: Evin Daly

Evin Daly — Wed, 05 Aug 2009 21:26:44 +0000

I have known Jim Treacy for many years – over 20 in fact. He is well respected finanial professional having worked in top roles for WPP group and TMP. It’s enough for me to say that Jim is a man of integrity. If Jim says that he was set-up, then he was. Sorry to see this happen to good man.

By: Monster Settles Stock Backdating Case for $2.5 million : ERE.net

Monster Settles Stock Backdating Case for $2.5 million : ERE.net — Mon, 18 May 2009 19:49:23 +0000

[...] days after its former Chief Operating Officer was convicted of stock fraud, Monster Worldwide has agreed to pay $2.5 million to settle charges brought against the company by [...]

By: Ernest Feiteira

Ernest Feiteira — Mon, 18 May 2009 16:33:05 +0000

I met with “Jim” for breakfast in ’05, we met to talk about new media recruitment strategies and trends. I am sprised he was that kind of businessman. He’s the “feed the Monster” strategy guy. TMP Worldwide, the parent company at that time, had purchased dozens of recritement advertising agencies with the purposed to “feed the Monster”. That strategy made Monster the market leader. Jim said there were management differences between him and Andrew McKelvey, but we did get deep into details, but Jim did say Andrew “Could not manage himself out of a paper bag.”

He told me about his teen kids and how he was going to their games. He was on a couple Boards, Dice and others, and how he was spending the summers at his shore house in LBI.

I guess after getting to know a guy you feel bad and hope its not true, but I’m sure the courts and jury have their facts right, if so Jim will need to pay his dues to society.

By: Gerry Crispin

Gerry Crispin — Fri, 15 May 2009 16:04:14 +0000

Treacy is the poster child for literally hundreds of companies and thousands of leaders in those companies who failed the real stockholders by ripping off company profits. I’m especially critical of the legal, financial and HR board members whose active and passive acceptance of these backdating practices led to it becoming so widespread.

By: Maureen Sharib

Maureen Sharib — Fri, 15 May 2009 10:59:32 +0000

This reminds me of a report I read many years ago about a businessman’s failure. It concluded with a remark that included that “…the market failed him…”.

It left an ambiguous impression in the reader’s mind – was this a good guy or a bad guy? Did the market “fail” him as being a poor businessman or did the market “fail” him as in disappointing him?

Words are powerful when carefully chosen.

By: Howard Adamsky

Howard Adamsky — Fri, 15 May 2009 04:39:10 +0000

Monster reacted to the jury verdict with a statement saying, “This verdict brings us closer to the end of an unfortunate chapter in the company’s history and putting the issue firmly behind us.”

Actually, no. This puts nothing behind them. It is a collective part of the history, story and brand that created Monster and it’s stink will be there for years to come.