Tuesday, October 03, 2006

Permitting Corporate Disclosures via this Newfangled Internet thingee

Sun Microsystems thinks that SEC governed material disclosures should be allowed in forums other than conference calls and formal press releases, like on the CEO's blog. And Sun CEO Jonathan Schwartz and General Counsel Mike Dillon decided to do something about it.

It still seems to me that an announcement must be made in a more traditional forum, perhaps the way you announce the upcoming conference call. After all, we certainly don't want public companies making their important disclosures on some publicly available blog that is really only read by insiders.

But it's a problem easily solved. In the meantime, the slow cogs of government must grind their way to the answer.


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As a frequent user of Open-sourced software and business lawyer in a law firm in Ottawa, I think it is a great move for Mr. Jonathan Schwartz to use Sun Microsystem's blog to announce something to readers and users about their software and other things.

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