Word: markets
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Dates: during 2000-2009
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Insider trading hasn't always been a crime. On the contrary, it was once considered logical and efficient to let any competitive advantage inform decision-making in the free market - a position many economic libertarians continue to embrace today. What some consider to be America's first insider-trading scandal took place shortly after the nation's birth; a former Assistant Treasury Secretary named William Duer capitalized on his government connections to make bets on the country's debt. His investments eventually soured, however, and Duer's bankruptcy brought down much of New York's economy in 1792; he died...
...came in 1909, when the U.S. Supreme Court ruled that that a director of the Philippine Sugar Estates Development Company committed fraud when he bought stock in his company without sharing information with the seller that soon boosted its value. But it wasn't until after the 1929 stock-market crash that Congress passed laws to limit such trading (although it didn't move to ban it outright) and created the Securities and Exchange Commission to enhance market oversight. As the stock market expanded in the 1960s, the SEC grew more aggressive in fighting insider trading, relying on a general...
...Dave Butler, Grainger's director of corporate affairs, said in a statement that the decision to lay off Nicholson was driven solely by "the operational needs of the company during a period of extraordinary market turbulence. Grainger rejects outright any suggestion that there was any other motivation relating to Mr. Nicholson's beliefs or otherwise." (See 25 people to blame for the financial crisis...
That funding model is now dead. One reason is the foreign presell market has dried up - foreign governments now prefer to focus on their domestic film industries. Another reason is that U.S. films are often priced too high for investors to make money on, a problem that has intensified with dropping DVD sales around the world. Without being able to presell foreign territories, everything falls apart. "Imploded is the word I would use," says Roger Smith, senior motion-picture analyst at Global Media Intelligence...
...indie-film shakeout ultimately play out? Given falling revenue, poor economics and a dearth of new indie projects, financial investors will likely limit commitments to commercially viable films - those offering strong potential for ancillary sales in video games and merchandise. That means more projects directed at the end market for those products - teens. But for hard-core indie investors, those who love taking risks on creative projects and look to hedge their bets by investing across many films, that game is over for now. And indie fans will soon feel...