BP Exploration Alaska Inc. also left vacant the top job in its pipeline-corrosion oversight divi... Engineer's Post Unfill

Submitted by admin on Sat, 2006-09-09 11:00. ::

BP Exploration Alaska Inc. also left vacant the top job in its pipeline-corrosion oversight division in Alaska for more than six months in 2005, according to the audit. That division, formally known as the Corrosion, Inspection and Chemicals Group, was headed until the end of 2004 by Richard C. Woollam, who on Thursday refused to testify under oath before a House subcommittee.

LONDON - Online gambling company Sportingbet PLC, whose chairman was arrested in New York this week, said Friday it has not been contacted by U.S. authorities regarding the matter and was continuing to operate as normal, taking bets from the United States.

Chairman Peter Dicks was detained at Kennedy International Airport after his arrival on a flight from London, the company confirmed in a statement, adding that he was not traveling on company business.

Customs discovered he had an outstanding warrant issued by Louisiana authorities. The May warrant charged Dicks, who lives in London, with gambling by computer, a felony punishable by up to five years in prison and a $25,000 fine.

Dicks, 64, is the second executive of a British Internet sports-betting company to be held in the United States after David Carruthers, former chief executive of BetOnSports PLC, was arrested in July. The company fired Carruthers, who remains under house arrest in the St. Louis area awaiting trial, and closed its U.S. websites.

IRVINE, Calif. - Broadcom Corp., a supplier of chips used in communications devices, said Friday it may need to record expenses starting at $1.5 billion for stock option accounting flaws, double what it had estimated in July.

Broadcom is one of at least 79 companies under scrutiny for possibly backdating stock option grants, or dating options retroactively to coincide with share price lows - a practice that increases the potential windfall for the recipient of the award.

The company had uncovered grants awarded between June 2000 and 2002 in which the measurement dates differed from grant dates. The measurement date is the day the stock price on the option is determined, while the grant date marks the day when the employee receives the option.

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