Magazine

"Sarbanes-Oxley: Time To Step Up" (Editorials, July 19, 2004)


"Sarbanes-Oxley: Time to step up" (Editorials, July 19) quoted data from a survey on corporate implementation of financial controls that came off a Web site thought to be from the Public Company Accounting Oversight Board (PCAOB). The PCAOB says it has done no corporate survey on compliance. We have now learned that the domain name, "Sarbanes-Oxley.com," as well as the domain names PCAOB.COM and PCAOB.ORG, are registered and owned by Karl Nagel & Co., an accounting firm selling compliance services to corporations. Karl Nagel takes no responsibility for the survey. BusinessWeek tried unsuccessfully to find the author of the survey. The PCAOB is disputing the domain names with Karl Nagel & Co. In retrospect, we should not have used the data.

"Diseases in your future" (Up Front, July 26, print edition) got a Web site wrong. The correct address: www.yourdiseaserisk.harvard.edu/

"The benefits trap" (Cover Story, July 19) should have said that it was a Congressional increase, not decrease, in the interest rate used to calculate pension liabilities that caused those liabilities to decline. It also should have said that Bethlehem Steel was located in Steelton, Pa. (not Stilton). And the table supplied by UBS Investment Research, which ran on page 71, was based on faulty data. Two companies, AES and Allegheny Technologies, should not have been on the list. The 2003 pension deficit as a percentage of market capitalization for Delta Airlines should have been 387.9%, for Ford Motor 39.9%, and for Hercules 27.3%.


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