Kb home backdating
Men and women with felony records became virtually unemployable, and Homeboy went from seeing a few thousand clients a year to 8,000, 10,000, 12,000.
Its payroll ballooned to more than 400 workers, mostly entry-level homies, and Boyle handed out cash when people struggled to buy food or pay bills.
In his final year at KB Home, he made, by ‘s count, 5.53 million. In 2006, the Securities and Exchange Commission began to crack down on the practice of backdating stock options. Dozens of young men, and some women, sat in rows or loitered outside. Boyle appeared, and the men gathered around him, three or four deep, for a hug, or a whispered blessing: “You are exactly what God had in mind when he made you.” Karatz sat nearby, thumbing at his Black Berry, in trim gray jeans and a dark sport coat.
A few months earlier, she had charged one of Boyle’s supervisors with a baseball bat–a boulder of a man who brushed off the incident, as did Boyle, who figured if she was actually looking to hurt someone, she would have picked a softer target. Word had gotten out that Homeboy had no jobs to offer.But by 2010, it had an operating budget of nearly million, and its cash reserves had been dwindling for months. (Karatz’s previous wife, his second, was Sandra Lee, the Food Network personality.) Karatz had plenty of time to read the paper. Three weeks earlier, a jury had found him guilty of four felonies.