Valeant: The End of the Michael Pearson Era

Valeant Pharmaceuticals International, the corporate poster child for price-gouging, tax-inversion and hedge-fund manager wealth destruction quietly severed all ties with J. Michael Pearson, its former chief executive officer and longtime guiding light, in January according to its annual proxy statement filed this morning.

Synchronoss Technologies: The Friends and Family Plan

Dec. 6 was an extraordinary day for Synchronoss Technologies’ shareholders. They woke up owning a stake in a company with a market capitalization above $2.2 billion. By the day’s end, however, Synchronoss had purchased IntraLinks Holdings, an unprofitable data-room developer, valuing it as if its stock were worth almost twice its then share price. Also Synchronoss said it had struck a deal to sell its legacy business, the mobile-phone activation unit.

Canadian National Railway: The Great Railroad Construction Robbery

For much of the past two decades Canadian National Railway Co. has been credited with revolutionizing the North American railroad industry. A theory of former company chief executive E. Hunter Harrison — of “precision railroading” — made him an industry icon and his shareholders very happy. But in railroading, as in life, how one gets there matters.

The Enabler and the Lifeline: Diamond Resorts and Quorum FCU

Purchase, New York, is a woodsy, suburban hamlet on the Connecticut state line that’s known as much for its residents’ extraordinary wealth as it is for being the headquarters address for corporate heavyweights like MBIA, PepsiCo and MasterCard. The town is also home to Quorum Federal Credit Union, a small member-owned and tax-free cooperative; it has become a major lender to the vacation ownership interest business.

Bear Stearns and the Bodyguard of Lies

More than seven years after Bear Stearns’ collapse, its former senior leadership has pushed a narrative centering on the once-proud firm’s collapse having been unforeseeable.

Globus Medical’s Inside Job

In February of last year spinal orthopedic device maker Globus Medical purchased Branch Medical Group, a key supplier and contract manufacturing operation based just 3 miles away from its Audubon, Pennsylvania, headquarters. It was no ordinary deal.