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...need to do something quick. He made the announcement while discussing News Corp.'s dire year-end results: his empire took a stinging $203 million loss in the fourth quarter, and operating income was down 30% for the year. All in all, the company swung from a $5.34 billion profit the year before to a $3.38 billion loss in the fiscal year that just ended. Murdoch cares little for Wall Street, but he knows his investors need to have confidence that he's on his game. The switch to a pay model smacks of virility and aggression, the Murdoch...
...Tuesday that he and others knew as far back as the early 1990s that no sales were taking place in Madoff's investment scam. He made the comments while pleading guilty to criminal charges as part of a government cooperation agreement for his role in Madoff's $65 billion Ponzi scheme...
...charges included conspiracy, securities fraud, investment-adviser fraud, falsification of books, mail fraud, wire fraud, international money-laundering, perjury and federal income tax invasion. Prosecutors are looking for $170 billion in forfeiture from Madoff's former right-hand...
Mounting demand for congressional travel may help explain why the House initially ordered the Pentagon to buy two more $65 million G-5s - Gulfstream V jets, known in the Air Force as C-37s - as part of the $636 billion defense budget, along with an additional pair of $70 million C-40s, the military version of the Boeing 737. "We've always frowned upon earmarks and additives that are above and beyond what we ask for," Pentagon spokesman Geoff Morrell stated when asked about the additional planes last week...
...medical care has ballooned, according to a new report in the policy and research journal Health Affairs. The study's authors compared medical data from 1998 and 2006 and found that obese Americans--who now make up a quarter of the U.S. population--are responsible for a $40 billion jump in annual medical spending. Obese people spend $1,400 more a year than people of normal weight on medical services, according to research data. Medicare doles out $600 more for obese beneficiaries; Medicaid pays $230 more for their prescription drugs. Annual costs associated with obesity are now estimated...