THE BURNED OVER DISTRICT

But it seems that trouble needs him. The AP is now reporting that it has learned of several problems with his reporting of stock options.

For the past five years, Sen. George Allen, has failed to tell Congress about stock options he got for his work as a director of a high-tech company. The Virginia Republican also asked the Army to help another business that gave him similar options.

Congressional rules require senators to disclose to the Senate all deferred compensation, such as stock options. The rules also urge senators to avoid taking any official action that could benefit them financially or appear to do so....

.....An Associated Press review of Allen's financial dealings from that era found that the senator:

-Did not have to look far to find corporate suitors, joining three Virginia high-tech companies he assisted as governor. Allen served on boards of directors for Xybernaut and Commonwealth Biotechnologies and advised a third company called Com-Net Ericsson, all government contractors.

-Twice failed to promptly alert the Securities and Exchange Commission of insider stock transactions as a Xybernaut and Commonwealth director. The SEC requires timely notification and can fine those who file late.

-Kept stock options provided to him for serving as a director of Xybernaut and Commonwealth, but steered other compensation from his board service to his law firm.

And just to show that this was not a one-off problem, the AP also found this:

At least twice during his corporate service, companies told the SEC that Allen had failed to promptly file required reports on insider stock transactions.

In March 1999, Commonwealth reported to the SEC that Allen failed to "timely file" a report showing an initial statement of beneficial ownership in the company and a single acquisition of stock. The transactions were subsequently reported, it said.

In April 2000, Xybernaut told the SEC that Allen and all but one of his fellow directors failed to file statements of beneficial ownership in a timely way.

Another poor little George who can't follow SEC rules. And to think, he wanted to be president.