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22 Oct 2010 11:40

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Biz: Magic Johnson sold his Starbucks. Is a venti-sized deal next?

  • what Magic Johnson has been on a selling spree lately. A day after selling his share in the Lakers, he sold his 105 Starbucks franchises, many of which are known for being located in inner-city areas.
  • whyThere’s a rumor that Johnson wants to buy a sports team with his money. He’s made around $100 million from the sale of his two major investments, so he could afford something that big. source
Posted by Ernie Smith • 0 Comments • Permalink

24 Mar 2009 10:34

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Biz, U.S.: Bankers falling off the wagon in high numbers, rehab clinics say

  • We absolutely do see more people coming in naming either a job loss or huge financial reversals or big investments with Bernie Madoff.
  • Sigurd Ackerman • The medical director at New Canaan, Connecticut’s Silver Hill Hospital rehabilitation facility, on the high number of former bankers coming in with alcoholism problems. Many (well, former) bankers live in New Canaan. • source
Posted by Ernie Smith • 0 Comments • Permalink

15 Mar 2009 21:34

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Biz, U.S.: Where did the AIG money go? Now we know!

  • one $44 billion went to debts the company sustained in its “securities lending” program, when the economy went plop.
  • two $22 billion went to satisfy credit-default swap debts its London subsidiary, AIG Financial Products, caused
  • three $12 billion went to pay debts to municipalities in dozens of states who signed complex investment agreements with AIG source
Posted by Ernie Smith • 0 Comments • Permalink

15 Jan 2009 09:31

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Biz: Who says you can’t go home? The bank. Foreclosures are up.

  • 81% increase in forclosures from 2007 to 2008; the number tripled from 2006 to 2008.
  • 1.84% of all homes received at least one foreclosure filing in 2008. There goes the neighborhood. source
Posted by Ernie Smith • Comments Off on Who says you can’t go home? The bank. Foreclosures are up. • Permalink
 
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