Word: stockely
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...have a duty to Mamma.com? That question will take center court as the Securities and Exchange Commission (SEC) sues Cuban, an Internet entrepreneur and owner of the Dallas Mavericks basketball team, for selling his stake in the Web company after the CEO slipped him nonpublic information about an additional stock offering. Cuban, known for his outsize personality, has come out swinging against the SEC and what he calls its "win at any cost ambitions," promising to keep the case - and the murkiness of insider trading law - in the public spotlight in a way not seen since Martha Stewart's sale...
While the popular perception of illegal insider trading may be clear-cut - say, a pharmaceutical executive selling stock right before the FDA fails to approve a new drug - the law is substantially less black and white. In 1934 Congress passed the Securities Exchange Act but didn't specifically address the topic of insider trading; it was only in the 1960s that the SEC began to bring cases under the law's antifraud statutes. Toward the end of that decade, courts codified the SEC's actions in case law, locking down the idea that everyone in the marketplace should get roughly...
...Yahoo! was welcome news to investors still seething that the founder turned down an acquisition offer from Microsoft earlier this year worth some $46 billion. (After Yang demanded $4 more per share than Microsoft's offer, the software giant walked away.) Yahoo! is in trouble - its stock price has fallen to around $11 from $29 in February 2008 and it's way behind Google and others in the fast-moving Internet innovation game. (The stock rallied slightly upon news of Yang's departure.) Yang, who took the job as CEO in June 2007, 13 years after he founded the company...
...developed largely as a result of widespread ignorance of financial history, while speaking to a packed house at the Harvard Book Store last night to promote his new book, “The Ascent of Money.” Ferguson faulted the U.S. Federal Reserve for complicity in the stock market bubble, claiming that home ownership had become over-politicized in recent years as a result of efforts by the federal government to increase ownership rates and widespread leveraging of real-estate assets. “Real financial alchemy was performed in order to transform the lead of sub-prime...
...When a friend watched my audition tape, she was physically repulsed. Stunned, she didn’t speak for a few minutes. Instead she stared at me in befuddled rage. “An average kinda guy…Good Midwestern stock?!” she finally yelled, repeating my self-declarations. “You were born in San Francisco. Your fucking favorite book is ‘Ulysses.’ You are not average Joe.” In my defense, I never lied in my audition tape. I did exaggerate my Midwestern “As?...