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§ 72.78 Nuclear material transaction reports.
The company said Mr. Salinas would no longer be able to make decisions in any material transaction without the board's approval.
These findings update the dominant wisdom that land values and material transaction costs drive smallholder land titling, demonstrating the important effect of status within the customary institution on demand for land titles.
Berkshire's conflict of interest policy requires all directors, chief executives and chief financial officers to "disclose any material transaction or relationship that reasonably could be expected to give rise to such a conflict to the chairman of the company's audit committee".
Recognize that shareholder litigation against the corporation and its directors is part of modern corporate life and should not deter the board from exercising its business judgment to approve a significant acquisition or other material transaction, or accept or reject a merger proposal or takeover bid.
In any event, the board should recognize that shareholder litigation against the corporation and its directors is part of modern corporate life, and such litigation should not deter the board from approving a significant acquisition or other material transaction, or accepting or rejecting a merger proposal or takeover bid.
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It said these included "deficiencies in recording material transactions timely, and in the organization and retention of financial documents and accounting records".
With Mr. Scalzo's testimony, prosecutors are seeking to show that the auditors relied on information from Tyco managers and only examined "material" transactions that might affect the company's bottom line.
The company said yesterday that it was considering "several material transactions" to turn its business around, but it is unclear whether the company is putting itself up for sale or seeking to enter into other types of agreements.
In the filing, Seidman said it had "communicated a material weakness in internal control to the audit committee and management" that the company had "deficiencies in recording material transactions timely, and in the organization and retention of financial documents and accounting records".
They argued that "the fee is the payment for the professional techniques, rather than the ordinary business or material transactions.
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