BusinessWeek: SAVVIS Places CEO on Unpaid Leave. Savvis Inc. placed its chief executive on an unpaid leave of absence Monday while it investigates the nonpayment of charges incurred on a corporate credit card at a Manhatttan topless club.

Visit the Smoking Gun if you’re interested in reading the Complaint between American Express and SAVVIS.

I’ve just added the Employment Agreement between SAVVIS and CEO Robert McCormick to the site. I guess we won’t be seeing him on an Amex commercial any time soon. You can view SAVVIS contracts and Scores contracts as well.

corporate buzz ipo

9 1/2 Weeks

Yahoo!/Reuters: Refco files for bankruptcy. Troubled commodities brokerage Refco Inc. said on Monday it had filed for bankruptcy protection as it struck a deal to sell its core futures brokerage business to a group of private equity investors for $768 million.

9 1/2 Weeks — No, not that “erotic psychodrama” with Mickey Rourke and Kim Basinger. I mean the amount of time that roughly passed between Refco’s IPO and its bankruptcy filing. Here are the rest of the Refco contracts, as promised — uncensored, and uncut.

This must count as a spoiler. In Refco’s Form S-1, it disclosed the following risk factor:

We will be exposed to risks relating to the evaluation of our internal controls over financial reporting as required by Section 404 of the Sarbanes-Oxley Act of 2002.

We are in the process of evaluating, testing and implementing internal controls over financial reporting to enable management to report on, and our independent registered accounting firm to attest to, such internal controls as required by Section 404 of the Sarbanes-Oxley Act of 2002. While we anticipate being compliant with the requirements of Section 404 by our February 28, 2007 deadline, we cannot be certain as to the timing of the completion of our evaluation, testing and remediation actions or the impact of the same on our operations. If we are not able to implement the requirements of Section 404 in a timely manner or with adequate compliance, we may be subject to investigation and sanctions by regulatory authorities, such as the Securities and Exchange Commission and the New York Stock Exchange. As a result, there could be a negative reaction in the financial markets due to a loss of confidence in the reliability of our financial statements. In addition, we may be required to incur costs in improving our internal controls and the hiring of additional personnel. Any such actions could negatively affect our results of operations.

Well, they were right.

corporate buzz ipo

Sarbanes Who?

Reuters: Former Refco CEO Charged, Shares Sinking. The former chief executive of Refco Inc. was charged with securities fraud on Wednesday as shares of one of the world’s largest commodities and futures brokers continued to plummet and have now lost over 60 percent in three days.

I’ve added the Employment Agreement between Refco and Phillip Bennett to the site. More to come.

corporate buzz

Justia Launches US Supreme Court Center Featuring Online Searchable US Supreme Court Opinions

The First Monday in October. A pretty inconsequential day for most people unless your favorite alliterative baseball team — Go Los Angeles Angels of Anaheim! 😉 — is in the playoffs or you are a die-hard Supreme Court watcher.

For Supreme Court fans, I wanted to let you know that Justia, a provider of search engine optimized web sites for law firms, just launched a beta release of their US Supreme Court Center with Oyez and US Court Forms.

The new United States Supreme Court Center initially features a free online searchable database of US Supreme Court Opinions. Please take a look if you are interested.


The Sound of Money

Red Herring: Digital Music Group Plans IPO. Seeking to cash in on the growing market for legally downloaded music, Digital Music Group, which sells digital music recordings to online music stores, said Friday it plans to raise $36 million in an initial public offering.

I’ve added Digital Music Group contracts to the site, including a Digital Music Download Sales Agreement betweeen Digital Music Group and Apple Computer.

Other recent additions to the site include contracts and PokerTek Inc. contracts.