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24 Aug 2009 21:21

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Biz: Cricket legend R. Allen Stanford has to stay in jail, guys

Oh, beyond playing cricket in Antigua, he supposedly defrauded investors out of billions in a fraudulent ponzi scheme. That’s why he’s in jail. source
Posted by Ernie Smith • 0 Comments • Permalink

07 Jun 2009 22:28

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Biz: Sam Zell may have his exit card out of Tribune: Big banks

  • Sam Zell, a real estate guy who knows very little about the newspaper industry, bought Tribune in 2007 largely using loans and debt. He regrets it. source
  • The company went bankrupt last year, and in the process of radical rethinking, laid off tons of people – both in Chicago and nationwide. source
  • Now, it sounds like Zell might have an out – bankers and investors could forgive his debt in exchange for the company. Wow. That’s … wow. source
Posted by Ernie Smith • 0 Comments • Permalink

26 May 2009 20:07

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Biz, Tech: If Facebook employees want to cash in, now’s the time

  • $100 million will be offered for stock cash-ins source
Posted by Ernie Smith • 0 Comments • Permalink

12 May 2009 21:40

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Biz: Bernard Madoff cleared out his bank accounts before his arrest

  • $12 billion mysteriously disappeared from his accounts in 2008 source
Posted by Ernie Smith • 0 Comments • Permalink

11 May 2009 09:07

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Biz, U.S.: Shaking off TARP: Big banking firms raise stock to pay off U.S.

  • Two reasons why: Investors appear to be buying stocks at the moment, and they want the monkey off their backs. TARP regulations force companies to limit executive pay, which they don’t like. source
  • U.S. Bancorp, Capital One Financial Corp., KeyCorp, Principal Financial Group Inc. and BB&T Corp. all announced plans this morning to raise $7 billion in capital to get the U.S. off their backs. source
Posted by Ernie Smith • 0 Comments • Permalink

30 Apr 2009 20:36

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Biz, U.S.: How much power did renegade hedge funds hold over Chrysler?

Posted by Ernie Smith • 0 Comments • Permalink

30 Apr 2009 20:24

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Biz, U.S.: Obama holds no love for Chrysler-bankrupting hedge funds

  • A group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout.
  • Barack Obama • In comments about today’s epic Chrysler chapter 11 bankruptcy filing. Further sticking the knife into the hedge funds and investors, who dispute Obama’s claims, “They were hoping that everybody else would make sacrifices and they would have to make none.” • source
Posted by Ernie Smith • 0 Comments • Permalink
 

16 Apr 2009 10:25

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Biz: A group of people want to buy Saturn from G.M. Whoo.

If you were an investor, wouldn’t you be interested in taking these cars off the hands of a failed auto giant? source
Posted by Ernie Smith • 2 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

19 Mar 2009 10:45

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Biz, U.S.: Are too many dollar bills going to get printed?

Where is George? He’s everywhere. And investors are scared that he’ll be weaker after more of him enter the market. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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