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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Aug. 28, 2002)
BUY 3 TANS 3 PLANET BEACH 1800 S. Texas Ave., Suite D (Next to Harvey Washbangers) College Station 979-694-1103 Under New Management T" $ 60 value /Vow *25 I 5% i OFF i any bottle of lotion i First time guests only. Must present coupon @1“ visit. We accept Aggie Bucks. Expires 10/06/02 THE B S °3, Vio'i 7 C armoS. 3-6 PM Daily! Remember Johnny Carino’s for your next catering needs - Weddings Business parties Family picnics Graduation Parties Luncheons SororitylFraternity functions Phone (979) 764-7374 Fax (979) 764-7375 All You Can Eat Pasta Mondays & Tuesdays $ 5.99! WELCOME BACK AGGIES* Start the semester off right and make sure your eyes are ready for class! Greene Dr. Matt Greene ’94 Dr. Mindi Greene ’94 Therapeutic Optometrists “Do you hare GREENE eyes?’ 404 University Dr. East - (979) 693 - 3177 *Aggieland’s CONTACT LENS Headquarters* *Student Specials * Free LASIK Consultation* *Scott and White Provider*All TAMU Plans Accepted ACUVUE2 WV l»«OT«CTtOW' Advancing th* Stwme of Psst... Students: Ask us about our new student special on a contact lens package including your exam, fitting fee and <? boxes of contoctsf % OmnnHDBHCK Stoney LaRue The Rose Amphitheatre Saturday - Sept. 7th, 7:00pm with special guests at Tickets: SIS in advance, $18 at the gate. On sale at www.CraterGraze.com Cooler's welcome $5 charge for small $10 charge for large. ABSOLUTELY NO GLASS CONTAINERS. Directions: From Henderson take 259 south approximately 12 miles to FM 1798. Turn right and go 1.2 miles to double gate on left side of the road. From Nacogdoches, take 259 north and go 6 miles north of ML Enterprise to FM 1198 and turn left tfrcwcl - TU Roza //cage. "Great Steaks and Ribs" Dine in the restaurant or on the deck overlooking the venue. Starkey & cJehnson 3pm to 6pm on the back deck FEEDING 5000 live $ 1.00 bar drinks $ 1.00 pints 8-10 696-5570 for details Party Safe and Designate a Driver. Wednesday, August 28, 2002 New rules to be enforced on Regulators adopt financial report accuracy guideliik reshn ontinued WASHINGTON (AP) After a season of corporate scandal, federal regulators unan imously adopted rules Tuesday that require companies to tile financial reports earlier and force chief executives to take responsibility for their accuracy. “One has heard comments from CEOs and CFOs saying that that’s not part of the job,” said Alan Seller, director of the Division of Corporate Finance for the Securities and Exchange Commission. The congression- ally mandated new rules, he said, are “intended to put an end to that debate once and for all. It is a part of the job.” Despite an outcry from pub lic companies, commissioners voted 5-0 to require large U.S. firms to file quarterly reports within 35 days of the end of the period, 10 days sooner than cur rent rules. Annual reports would be due within 60 days after the end of the year, instead of the current 90 days. The SEC also cut the time that corporate insiders and large shareholders have to report trades of company stock to two business days. Currently, insid ers have as much as 40 days to report trades in company stock on public markets; a transaction between company executives must be reported 45 days after the close of the year in which the deal occurred. The regulations go into effect Thursday. The filing changes will be phased in during 2003 and 2004. Quarterly reports for firms whose fiscal years end Dec. 15 must be filed within 40 days next year and 35 days in 2004, according to the new rules. Annual reports will have to be filed within 75 days of 2003’s end, 60 days the following year. The accelerated filing rules apply only to domestic compa nies that have been under SEC regulation for at least a year, have filed at least one annual report and have a market value of at least $75 million. The com mission is waiting to see how well the new rules work before imposing them on smaller firms. Under the guidelines, a com pany’s chief executive and finan cial officers each must certify in writing that they have reviewed each report and that it does not contain any untrue statement of a material fact, or omit any materi al facts. The officers also will be required to affirm that the report fairly represents the company’s financial condition. The same officials are responsible for establishing and maintaining processes to make the reports public. The new certification rules will apply to domestic companies and “foreign private issuers,” publicly traded companies owned mostly by non-Americans. The rules, mandated by a law enacted July 30, are the SEC’s latest effort to crack down on coiporate wrongdoing and boost investor confidence that was rat tled by the accounting scandals at Enron Corp., WorldCom Inc., Adelphia Communications Corp. and many other big companies. Violators can be prosecuted on federal fraud and other charges, officials said. “We are detennined to give real teeth and meaning to the protections of the new law,” said Rhonda R lator and nut People usi hey drink \ Ralories in tl SEC Chairman HarveypP aid - But the Analysts said the ne might be good for invest;.! also put logistical bunt- businesses — particular!) er ones that just barely qi ‘More and timely dis is better for investors,I :alorie intake companies, it means mor; more headaches and mor need to analyze informal: to create these document securities compliance David Copenhafer of Bo- Co. “They’ll have to way they do things intea The SEC in late June 947 companies — all will al revenues exceeding S lion — to submit the statements. The rules ap Tuesday will replace the New rules for CEOs and CFOs n a day can £ 2-ounce can ies. If you dr ,140 calorie nost people hey’re drink Th* S«ojf ill** and Exchange Commission adopt ad rules Tuesday that require ctvef exeo/tive officers and chief financial officers to personally certify fr>at the reports they file are accurate and compiele. Ba««d on the officer's hjnoieledo*, the report ► has teen renewed by the signed offioer ► Ones not oontain talse or mrtjrtixing statnmmts or am* naresauary tacts ► cieary presents the financial condition The sagnirij) officers have ► rcaatiistmci and martancd controls, to onsum that matanK ntormation is rruxto known ► dtsefcietd lo the issuers any hv». »;i and aM ttofncncKsd oontrofci ► mninatod any -.gnmnanl ctunj than could alTed internal coM SOURCES U S Secunten and E-VCKunue Contotseoii. AwoctaWd PiraJ Increased airport security is costing government more NEWS IN BRIEf jrinking up t< d daily aver; One of the o dine at the ampus: 5 ’ommons, Students sho liet and eat alad bars at :afeterias, s hoice is with it Sbisa and ( he pizza and ft give you ; ;ven healthy, Zawieja in lo discuss fo Jj|hing in mode Everyone :ookies at Sb ‘And we all nly need one rab a handfu People of ibout 30 minu ve days a wi xercise can hunks: 10 mi e morning, itair master at :o class typici nough to coui You do n liehard aerob the Freshman jest exercise i brisk pace. A pus at night i WASHINGTON (AP) — It’s costing the govern ment much more to screen air travelers than it cost the airlines because some of the private companies that hire the screeners have raised their rates — one nearly doubling them, says a government report. The Transportation Department’s inspector general also found cases where the companies billed the government for absent employees and work that was never completed. And it found lax oversight by government officials. Rep. John Mica, the Republican chairman of the House aviation subcommittee, said higher pay is understandable but charging for services not perfonned is not. “We cannot tolerate fraudulent billing,” Mica said. “We’ll have to track it down and conduct our proper oversight.” Before Sept. 1 1, private companies had con tracts with airlines to screen passengers and their carry-on bags. After the terrorist attacks. Congress created the Transportation Security Administration, which was ordered to take over the contracts, worth $1.6 billion, and hire a feder al work force to assume passenger screening duties in more than 400 airports by Nov. 19. According to Alexis Stefani, the Transportation Department’s assistant inspector general for audit ing, the companies raised their rates for labor and overhead when the government started paying the bills in February. One company nearly doubled its overhead rate to $28 an hour and raised employee pay from $10 to $14. The inspector general’s staff visited six uniden tified contractors at two undisclosed airports and found no government supervision while contractor employees arrived late, left early and signed in as though they worked an entire shift. “We saw vir tually no onsite monitoring of screener contractors by TSA employees,” the report said. A separate review by the TSA discovered “internal controls were not followed, contractors billed TSA for employees who were on vacation, and TSA was overcharged for services not per formed,” the inspector general said in the report issued earlier this month. ( j^nneth Quinn, an attorney representing sever al screening companies, said the higher costs are justifiediHe said security screeners were vastly underpara before Sept. 1 1 because of pressure from the airlines to reduce costs. Now, he said, “you need to make sure you're paying people adequately so they don’t bolt know ing that they’ll be out of a job” when the federal work force is in place. Quinn also said the government appears to be doing a good job of supervising the companies and their screeners. “From my vantage point, the TSA has provided fairly active oversight,” said Quinn, who cited a confidentiality agreement in declining to identify his clients. The government was supposed to negotiate prices and terms with the screening contractors after taking over the contracts six months ago, but hasn’t done so yet, the inspector general said. The TSA instead awarded “letter contracts” to the companies, which don't spell out detailed terms. Many of the privately employed screeners are getting jobs as federal -screeners, earning between $23,600 and $35,400 a year plus health insurance, retirement benefits and paid leave. As private-sec tor screeners they generally earned about $10,000 a year, and often received no benefits. Some, though, can't meet the government’s higher standards: They must be U.S. citizens with a high school diploma or one year of experience in a job that shows they can perform the security work. said. If you ar ing, you are d You don weight when lege,” Rahn s the sodas ant not to go ovt Caffeine found to lower skin cancen WASHINGTON (AP) - Ca# tart ’ and mak the chemical stimulant ino car ^y T on a and tea, has been found tot the risk of skin cancer in lain ry mice. A study suggests thati lotion spiked with cafie' with another compound' in green tea can reducebt than half the number of3 you-can eat hi tumors on the skin off*- mice exposed to brutal w ultraviolet radiation, saitf Allan Conney, a professot ; AutflOritk cer and leukemia rese: Rutgers University in f DiOlherS ! Brunswick, N.J. J 25-VPar-n Skin cancer is the most: 4J 7^0 mon of all cancers mthel States. The American Ac* of Dermatology estimates; a million cases will nosed in the country this Skin cancer generally is fl by cutting, burning or the tumor cells, but untref can be deadly. To test effects of caftei- skin cancer, Conney and leagues exposed 90 high levels of ultraviolet i murder warrai 8 ' a day for 2(M - • • strain of tion twice They used a called hairless mice, jail on unrelat used for skin cancer studies seu iui ami' After the mice got then- Thomas nimals olet doses, the divided into three group . lllulliai group was slathered daily 1 the killing afte Authorities International Student Organization Calling home has become cheaper EZ] Long distance calls 4.9 cents a minute No hidden charges El No monthly fees El Same rates 24/7 Automatic recharge by credit card Dedicated customer service Calling Card BEAUMONT Authorities sa evidence linkii the 1977 m whose body v under a bri County, wrap| riddled with si Orange ( deputies said were looking Donald Teal, v may be in Sou he recently v\ His broth Tea Monday. 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