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In 2000, Janet and James Baker, the creators of the Dragon voice recognition software, sold their company to a Belgian competitor – Lernout & Hauspie Speech Products – for $580 million in L&H stock. When L&H collapsed into bankruptcy shortly after the sale, the L&H stock became worthless and the Bakers and the other Dragon shareholders were left with nothing. The Bakers personally lost over $300 million. continue reading »

Some friends have offered their thoughts on the two-part embezzlement series. I want to share one particularly acute set of observations, offered by a retired CEO and principal shareholder of a local manufacturer, whom I will call "Steve." continue reading »

Joseph Phan, a long term Seattle Public Utilities (SPU) employee, was arrested in March 2012 for embezzling $1,100,000 over a period of four years. continue reading »

More to the point, embezzlement is a persistent drain on U.S. businesses, siphoning billions per year. Cash flow is the life blood of business; and embezzlement is the way private companies, especially small private companies, bleed to death before they recognize how they were wounded. continue reading »

Recently, a client asked me to review what he described as a standard (ho hum) non-disclosure agreement (NDA). continue reading »