Word: perlis
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...connection with the purported trades, I caused the fraudulent investment advisory side of my business to charge the investment advisory clients $0.04 per share as a commission. At times in the last few years, these commissions were transferred from Chase Manhattan bank account of the fraudulent investment advisory side of my firm to the account at the Bank of New York, which was the operating account for the legitimate side of Bernard L. Madoff Investment Securities - the proprietary trading and market making side of my firm. I did this to ensure that the expenses associated with the operation...
...George W. Bush, the bucks start here. On March 17, before about 1,500 Calgary business leaders, Bush will give his first post--White House address and set the going rate for an audience with a former leader of the free world: a reported $150,000 per speech. That may seem like a lot for a man who left Washington with a record-low 22% approval rating. But it's far from exorbitant on the world's most lucrative lecture circuit--one of the perks that prompted John Updike to dismiss the presidency as "a way station en route...
...from as far away as Vermont. Drive along the unlined roads around Hughson, and it's easy to find 10 different almond farmers renting hives from 10 different states. Orin Johnson, whose family has been keeping bees around Hughson since the 1950s, remembers when beekeepers earned less than $10 per hive in pollination fees to supplement their main business: honey. "Almonds were nothing," says Johnson, examining some of his 700 hives, his snow white hair peeking out from beneath a green trucker hat. Today about 60% of Johnson's business is pollination. (The honey made from almond blossoms...
...have contributed to the recent epidemic of colony-collapse disorder (CCD)--a mysterious phenomenon that can kill up to 90% of a hive's insects, and whose root cause is still unknown. CCD has helped cause a nationwide bee shortage; rental prices spiked to as much as $160 per hive last year...
Consequently, California's almond growers are getting stung. Dave Phippen, a partner in his family's farm in nearby Manteca, just paid $150 per hive to a Texas supplier. "If we didn't put any bees out here, I think we'd have a crop failure," he says, "and I'm not about to learn." Three years of record yields have depressed almond prices to half their peak; many growers will be lucky to break even this year. Meanwhile, a drought led Governor Arnold Schwarzenegger to declare a state of emergency on Feb. 27. Some almond farmers didn't even...