Gates Gets Fined - GoFuckYourself.com

DVTimes · 05-04-2004, 02:35 AM

Gates Gets Fined

REDMOND, Wash ? Microsoft Chairman Bill Gates paid the piper this week after admitting to violating antitrust regulations in the case of two stock purchases, the U.S. Department of Justice announced Monday.
Gates has agreed to pay civil penalties totaling $800,000 at the tail end of an investigation by the Federal Trade Commission over charges that he did not notify antitrust officials before purchasing stock in trash hauling company Republic Services in 2001 and impotence drug maker ICOS in 2002. Gates reportedly purchased more than $50 million worth of ICOS stock.

Whenever stock holdings exceed 10 percent, there is a requirement to file an antitrust notification, according to the HSR (Hart-Scott-Rodino) Act.

Federal law requires a notification and waiting period for stock purchases made by certain individuals and companies in excess of $50 million. The maximum penalty is $11,000 for each day in violation.

The transaction was carried out through Gates' private investment fund, Cascade Investment.

The Republic Services stock purchase did not catch the FTC's eye until several months after Gates issued a corrective filing, but then according to reports, he and his investment firm repeated the infraction several months later. At that point the FTC filed charges and went after penalties.

Gates has long argued that the incident was an oversight and that he was unaware of the law requirement to report the stock purchases.

http://www.xbiz.com/news_piece.php?id=3146

EviLGuY · 05-04-2004, 02:41 AM

I bet he is crying himself to sleep over tht one. have to add a couple 00's on the end to make someone that loaded notice.

pure energy · 05-04-2004, 02:50 AM

It won't even leave a mark on his bank accounts!

DR_PHIL · 05-04-2004, 04:11 AM

they just took money out of starving kids mouthes in africa

SomeCreep · 05-04-2004, 04:13 AM

Bill Gates already made back that $800,000 in the time it took me to type this out... and I type fast

Ash@phpFX · 05-04-2004, 07:50 AM

i bet he doesnt really give a shit

okny · 05-04-2004, 07:51 AM

Pocket change for Gates, he will go look under his couch matts and find 800 mill

directfiesta · 05-04-2004, 07:55 AM

I got a parking ticket yesterday ....

gage · 05-04-2004, 07:55 AM

have you guys seen Chris Rock's latest stand up?

"i'm not talking about rich i'm talking about wealth.. if bill gates woke up with oprah's money he'd slit his fucking throat"

i'm sure the "penalty" did nothing to phase him in the slightest.

PornoMan · 05-04-2004, 08:09 AM

Winterverse · 05-04-2004, 09:43 AM

Gates shits thousand dollar bills.. 800k ain't shit, thats just a bottle of exlax..

TAMPA_TOKER · 05-04-2004, 09:46 AM

Now he can only donate 1.9 billion dollars this year

Jeff aka NIGHTfall · 05-04-2004, 09:48 AM

i wish i had his problem

05-04-2004, 02:35 AM	#1
DVTimes xxx Industry Role: Join Date: Jun 2003 Location: UK Posts: 31,547	Gates Gets Fined Gates Gets Fined REDMOND, Wash ? Microsoft Chairman Bill Gates paid the piper this week after admitting to violating antitrust regulations in the case of two stock purchases, the U.S. Department of Justice announced Monday. Gates has agreed to pay civil penalties totaling $800,000 at the tail end of an investigation by the Federal Trade Commission over charges that he did not notify antitrust officials before purchasing stock in trash hauling company Republic Services in 2001 and impotence drug maker ICOS in 2002. Gates reportedly purchased more than $50 million worth of ICOS stock. Whenever stock holdings exceed 10 percent, there is a requirement to file an antitrust notification, according to the HSR (Hart-Scott-Rodino) Act. Federal law requires a notification and waiting period for stock purchases made by certain individuals and companies in excess of $50 million. The maximum penalty is $11,000 for each day in violation. The transaction was carried out through Gates' private investment fund, Cascade Investment. The Republic Services stock purchase did not catch the FTC's eye until several months after Gates issued a corrective filing, but then according to reports, he and his investment firm repeated the infraction several months later. At that point the FTC filed charges and went after penalties. Gates has long argued that the incident was an oversight and that he was unaware of the law requirement to report the stock purchases. http://www.xbiz.com/news_piece.php?id=3146 __________________ The Affiliate Program

05-04-2004, 02:50 AM	#3
pure energy Confirmed User Join Date: Apr 2004 Posts: 4,274	It won't even leave a mark on his bank accounts! __________________ Click Here to get $42 a sale AND Get FREE MGP Coaching from WebmasterLabor.Com Sign up above then EMAIL info (( at )) webmasterlabor DOT com for your free 1 to 1 MGP coaching

05-04-2004, 04:13 AM	#5
SomeCreep :glugglug Join Date: Mar 2003 Location: Where the Wild Things Are Posts: 26,118	Bill Gates already made back that $800,000 in the time it took me to type this out... and I type fast __________________ Webair Hosting I use and recommend Webair for hosting.

05-04-2004, 07:51 AM	#7
okny Confirmed User Join Date: Aug 2002 Location: The Vault Posts: 5,761	Pocket change for Gates, he will go look under his couch matts and find 800 mill __________________ Aim: okny Icq: 306232 Skype: OlegKrasBT

05-04-2004, 07:55 AM	#8
directfiesta Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: Montreal, Quebec Posts: 29,776	I got a parking ticket yesterday .... __________________ I know that Asspimple is stoopid ... As he says, it is a FACT ! But I can't figure out how he can breathe or type , at the same time ....

05-04-2004, 02:41 AM	#2
EviLGuY So Fucking Banned Join Date: Apr 2003 Location: malta Posts: 12,745	I bet he is crying himself to sleep over tht one. have to add a couple 00's on the end to make someone that loaded notice.

05-04-2004, 04:11 AM	#4
DR_PHIL Confirmed User Join Date: Oct 2002 Location: Never visits the same thread twice Posts: 4,099	they just took money out of starving kids mouthes in africa

05-04-2004, 07:50 AM	#6
Ash@phpFX Confirmed User Join Date: Nov 2003 Posts: 4,292	i bet he doesnt really give a shit

05-04-2004, 07:55 AM	#9
gage Confirmed User Join Date: Apr 2004 Location: Scottsdale AZ & Colorado Posts: 225	have you guys seen Chris Rock's latest stand up? "i'm not talking about rich i'm talking about wealth.. if bill gates woke up with oprah's money he'd slit his fucking throat" i'm sure the "penalty" did nothing to phase him in the slightest.

05-04-2004, 08:09 AM	#10
PornoMan Confirmed User Join Date: Apr 2004 Location: Porn Land Posts: 168	__________________

05-04-2004, 09:43 AM	#11
Winterverse Confirmed User Join Date: Feb 2004 Posts: 278	Gates shits thousand dollar bills.. 800k ain't shit, thats just a bottle of exlax..

05-04-2004, 09:46 AM	#12
TAMPA_TOKER So Fucking Banned Join Date: May 2004 Location: Tampa Bay Florida Posts: 1,907	Now he can only donate 1.9 billion dollars this year

05-04-2004, 09:48 AM	#13
Jeff aka NIGHTfall Confirmed User Join Date: Oct 2003 Location: Port St. Lucie, Florida Posts: 5,162	i wish i had his problem __________________ Register Now For PimpinPays.com