Word: sec
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DALE EARNHARDT JR., NASCAR driver, in a live interview on NBC after winning his fifth race at the Talladega (Ala.) Speedway. He was fined $10,000 by NASCAR, and NBC later announced a 5-sec. delay on sports coverage...
...studios' side. Just as the Napster phenomenon appeared to come out of nowhere, the next generation of file-sharing software is already in utero. Last month computer scientists at Caltech set a new data-transmission record: they achieved the equivalent of downloading a full-length feature film in 4 sec. It's a bumpy road to acceptance for any disruptive entertainment technology, from piano rolls to the VCR. "One thing you can count on in Hollywood is fear of change," says Warren Lieberfarb, the man who launched the DVD. But as Lieberfarb's profit-rich baby continues to prove, consumers...
...funny and engaging first book, Rammer Jammer Yellow Hammer: A Journey into the Heart of Fan Mania (New York: Crown, 2004) was released to favorable national reviews and wide distribution. Named after a UA victory song, it chronicles Alabama’s 1999 run to an SEC Championship, focusing less on what happened inside the stadium and more on what happened in the parking...
...crush of Everyman money flowing into what can be a risky investment is a big part of what troubles the SEC. Donaldson told TIME the SEC will begin requiring all hedge-fund advisers to register with the SEC before the end of the year. He proposed the rule in July and says that "the preponderance of people" who offered comment were in support. Registering would force hedge funds to disclose information such as their trading strategy, the amount of money they manage and whether they have been disciplined by regulators. "The last few years there has been an increasing number...
...happening now. Some $80 billion flowed into hedge funds this year through August, and the average hedge fund rose about a woeful 1%. The hedgies are under pressure to pump up returns to justify their steep fees--which run to 2% of assets plus 20% of profits. The SEC's primary concern is fraud, in which a hedge fund hides losses or misstates the value of its holdings. Worse, says Donaldson, is the kind of cheating that came to light in last year's mutual-fund scandals. Some hedge funds had schemed with investment firms to trade mutual funds...