Yesterday US prosecutors filed charges against five Eastern European men. They are accused of hacking into computers at Nasdaq and a bunch of major Wall Street companies. It appears the government believes they stole over 160 million credit card numbers. They are calling it the...
The Post Office said today that they are contemplating replacing home delivery of your mail with "cluster boxes" in each neighborhood where you go get your mail. This after they changed their mind about ending Saturday mail delivery after an outcry. That would have saved...
For a reported (according to www.abovethelaw.com) $5 million a year, former head of SEC's enforcement division Robert Khuzami has joined the giant law firm Kirkland & Ellis. One assumes he will now use his expertise and knowledge as to SEC enforcement practices and policies to...
According to The Deal, there were eight IPOs of life science companies in May alone, more than the whole rest of the year leading up to May. This is good! And they are generally trading very well. In the second quarter, life science IPOs were...
University of St. Thomas Law School graduate Thomas McGregor found himself with $108,000 in law school tuition loans. The only job he could find was with his family's roofing business making $15 an hour. So how did he pay off his loans in just two...
Just minutes ago the City of Detroit said it is filing for bankruptcy. Yep. It's the largest city bankruptcy ever. Pensioners could be hurt along with anyone who has bought Detroit city bonds. So much for the safety of municipal bonds! According to CNN they...
Entrepreneurs sometimes want more control than they can manage. Why? Mainly because they are afraid that if they give control to others, they might lose sight of the direction or goal they were originally aiming towards. Delegating requires trust, which can be difficult when the...
The US House of Representatives recently passed a bill to prevent the Public Company Accounting Oversight Board (PCAOB) from requiring public companies to rotate their auditors every few years. You can find the text of the bill at http://www.govtrack.us/congress/bills/113/hr1564/text. As we know the PCAOB is overseen...
It looks like the small cap market just finished its strongest half year since 2008. That's good! According to The Deal, IPOs doubled, private investments in public equity (PIPEs) are up as are special purpose acquisition companies (SPACs), and additional public offerings by already public companies...
According to the ABA Journal, a well-known estate lawyer who has seen the will of famed actor James Gandolfini has concluded that the $70 million estate will likely pay over $30 million in estate taxes to the government. The lawyer called the will a "nightmare from...