I believe this Calandra was one who touted EGAM back in its glory days when the stock ran to $5 or whatever....
CBS MarketWatch's Calandra resigns amid SEC probe
Thursday January 22, 9:58 PM EST
By Jonathan Stempel
NEW YORK, Jan 22 (Reuters) - Thom Calandra, the chief commentator for CBS MarketWatch and a founder of its parent company MarketWatch.com Inc. (MKTW), resigned amid probes into his stock trading, MarketWatch said on Thursday.
Calandra, 47, stepped down Thursday morning after becoming the target of a U.S. Securities and Exchange Commission informal inquiry over activities dating back to October 2002, MarketWatch spokesman Dan Silmore said.
San Francisco-based MarketWatch, which provides financial news over the Internet, said the SEC asked Calandra for records of his personal stock trades, copies of his newsletter The Calandra Report, and copies of e-mail alerts sent to newsletter subscribers. The newsletter has been terminated.
"It is good news when a news organization enforces its ethics codes and policies," said Kent Collins, chairman of the broadcast news department at the Missouri School of Journalism in Columbia, Missouri. "The profession of journalism needs to do more."
MarketWatch said it began investigating whether Calandra violated the company's trading and disclosure rules after learning in late December of the SEC inquiry. It said it is cooperating fully with an SEC request for relevant documents and other information.
"We regret Thom Calandra's departure," Larry Kramer, MarketWatch's chairman and chief executive, said in a statement. "We are confident we have appropriate policies. What we don't know is whether they were followed."
Calandra's lawyer did not immediately return a call seeking comment. SEC spokesman John Heine declined to comment. |
