Word: lowered
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...July 19, 2007, Google reported earnings that were lower than what analysts had expected, and the tech company's stock price dropped 5% - but Raj Rajaratnam made $9 million. Allegedly, the New York hedge-fund manager had gotten a tip that Google's earnings would be below expectations, so he was prepared with short positions and put options that would become more valuable as the stock price fell. The alleged source of the tip: an employee at an investor-relations firm that helped Google announce its earnings who wanted to be paid for similar informational gems in the future...
...trading on the information must entail knowingly breaching a duty of "trust or confidence." This can be a fiduciary duty, which an officer of a company would have to a firm's shareholders (perhaps an Intel managing director), or - as the Supreme Court has more recently found - a lower-level employee who has a broader duty to not share, or personally benefit from, his firm's proprietary information (maybe a McKinsey consultant...
Similar companies will be opening in the U.S. soon, predicted Horton, who holds an MBA from Yale. Horton said his company charges the same rates as in stores or lower and gets its cut from participating companies. He also said cell phone numbers would only be used to send the text with the gift code and would not be used for advertising...
Harvard, which currently manages 30 percent of its funds internally and uses external investors to oversee the rest, says that its investment model allows it to achieve extraordinary growth at a fraction of the cost of hiring comparable outside managers. Nevertheless, Kaiser emphasized the need for lower compensation—even if it means that Harvard is forced to abandon the successful but arguably risky investment strategies that have served it well in the past...
...price tag is growing even faster - up 6% or more. All this in a year where the cost of most everything else (as measured by the Consumer Price Index) actually fell. There is a silver lining: increased aid and tax benefits mean out-of-pocket costs for school are lower than they were five years ago, although only slightly. (Read "Germany's Ph.D. Scandal: Were Degrees Bought...