January 13, 2013 |
Tongal, the Marina del Rey start-up website that links crowd-sourced videos with major brands, has scored $15 million in funding from a private equity firm. Insight Venture Partners, based in New York, has also invested in other online players such as Twitter and Tumblr. Tongal said it plans to use the infusion to “support plans for rapid expansion.” Already, Tongal has linked writers, directors, actors, social media gurus and other creative types with brands such as Lego, Pringles, McDonald's and Axe. Companies work with Tongal to develop a set of objectives for a video or other “creative need,” which Tongal then opens up to its community of members.
August 14, 2012 |
Wells Fargo & Co. and a former vice president have agreed to pay more than $6.5 million to settle federal accusations that they peddled tricky mortgage-related investments without understanding the complexities of the financial products or disclosing the risks to investors. The Securities and Exchange Commission said the improper sales were made in 2007 by Wells Fargo Brokerage Services in Minneapolis, now known as Wells Fargo Securities, and specifically by Shawn McMurtry, the vice president who recommended and sold some of the products.
April 12, 2010 |
California has bled manufacturing jobs for decades as low-cost foreign labor has enticed U.S. companies to fatten their profits by making their products overseas. But the state is on sale amid a slow recovery from the deep economic downturn. Industrial space is available at bargain prices. The dollar's sharp decline since 2001 has made manufacturing here more attractive. Tens of thousands of blue-collar workers are idle and itching to get back to work. That's why cities in the Inland Empire are courting foreign companies to set up factories in their communities to help battle the region's unemployment rate of 14.7%.
December 22, 2011 |
Google Inc. is investing $94 million in solar panel farms in the Sacramento area. The money will go toward four photovoltaic, or PV, panel farms built by Recurrent Energy, a San Francisco company owned by tech-giant Sharp Corp., along with funding from investment firm Kohlberg Kravis Roberts & Co., said Axel Martinez, Google's assistant treasurer, in a company blog post. The investment pushes Google's portfolio of clean-energy investments to more than $915 million, $880 million of which has been invested since January, Martinez said.
January 5, 2013 |
India has long had a love affair with gold. But one businessman there is so infatuated with the precious metal, he dropped about $230,000 on solid gold shirt. More than two dozen goldsmiths toiled for 15 days for lender Datta Phuge, who custom ordered the seven-pound top to wear for New Year's festivities, according to the Pune Mirror . The shirt is crafted from 14,000 22-karat gold rings linked together and comes with six Swarovski crystal buttons and a belt also made of gold.
February 14, 2013 |
There was no divine intervention for the musical "Scandalous: The Life and Trials of Aimee Semple McPherson. " The Broadway show about evangelist Aimee Semple McPherson - written by TV personality Kathie Lee Gifford - opened and closed within a month. The Foursquare Church, a global Christian denomination based in Echo Park, watched the failure with more than a historical interest. The church, founded by McPherson 90 years ago, was a major investor in the show through its Foursquare Foundation charitable arm. Foursquare representatives declined to say how much the church foundation lost when the show closed Dec. 9, but two Foursquare clergy members with knowledge of the situation placed it at $2 million.