June 25, 2012 |
Losing your company $2 billion apparently causes investors to respect you less, according to a recent survey conducted by Barron's. After an investment group within JPMorgan was found to have lost $2 billion in trading, the bank's listing on Barron's annual survey dropped to 49th this year from 14th last year. After the loss, JPMorgan's chief executive apologized for the risky trading before a congressional committee. Apple again took the top spot, even after its leadership changed when Steve Jobs died last fall.
April 11, 2012 |
The stock market rose for the first time in six days Wednesday, but the gains were muted and did little to dispel the notion that a deeper sell-off may be underway. The Dow Jones industrial average climbed 89.46 points, or 0.7%, to 12,805.39, a welcome reversal from its nearly 500-point decline over the last five trading sessions. The Standard & Poor's 500 index rose 0.7%, and the Nasdaq composite index was up 0.8%. An unexpected first-quarter profit from Alcoa Inc.late Tuesday and a slight drop in yields on Spanish and Italian government debt lured buyers.
February 15, 2012 |
Wall Street wrapped up its worst day of the year, with the Dow Jones industrial average posting its largest one-day point and percentage drop since Dec. 28. Here's how America's most-watched index is faring: The index fell 97.33 points, or 0.76%, to 12780.95 - its first drop in three trading days. Five of the Dow's 30 components finished higher. The index is down 9.77% from its record close of 14164.53 reached on Oct. 9, 2007; but it is up 95.22% from its 12-year closing low of 6547.
December 22, 2011 |
Investors cheered when they learned French police had arrested accused Southern California con man Bruce Fred Friedman in the seaside resort town of Cannes. But more than one year later, Friedman remains in France and the hundreds of investors in his alleged Ponzi scheme — authorities pegged it at $228 million — are beginning to wonder whether they'll ever see him in a U.S. courtroom. For more than 13 months, Friedman has opposed efforts to stand trial in Los Angeles. French courts have authorized his extradition to the United States, but the matter now awaits a final decision by the French government, said Thom Mrozek, a spokesman for the U.S. attorney's office in Los Angeles.
March 27, 2003 |
Lockheed Martin Corp. won dismissal of an investor suit that claimed the company inflated its share price by assuring investors in 1998 that it was "on track" for a 10% increase in per-share earnings, only to lower those forecasts later. U.S. District Judge Mariana Pfaelzer in Los Angeles said investors failed to prove that company officials knew the statements were false when they made them.
October 17, 2007 |
Financial advisors and wealthy investors believe corporate boards act in the best interests of executives rather than shareholders, according to a survey released Tuesday. Most of those surveyed last month by FTI Consulting Inc. also said they believed that corporate governance practices had improved since the passage of the post-Enron Sarbanes-Oxley corporate reform law in 2002.
September 28, 2009 |
Investors are just not sure where the economy is headed, so the stock market may be in limbo for a while. After stocks stumbled last week on disappointing reports on housing and manufacturing, investors are concerned that the economy's rebound will be slower than originally thought. They may cool their buying and even resort to more selling until they are more certain that the strength of the recovery warrants extending the nearly seven-month-long advance in stocks. "The significant advance that the market has had . . . has left some people with an itchy trigger finger," said Jim McDonald, chief investment strategist at Northern Trust Corp.
February 6, 2008 |
The Securities and Exchange Commission has formed an office to quickly distribute financial penalties to wronged investors after government watchdogs said the agency wasn't returning the money quickly enough. The SEC's Office of Collections and Distributions will pay out more than $5 billion the regulator has recovered from securities law violators, the agency said Tuesday. Since gaining the authority under the Sarbanes-Oxley law to distribute financial penalties, the commission has given more than $3.5 billion to investors.
HOME & GARDEN
April 28, 2011 |
Writer Jack Canfield, who co-created the Chicken Soup for the Soul series, will sell an oceanfront estate in West Maui, Hawaii, by auction May 12. The suggested opening bid is $7.5 million. Canfield, who makes his primary residence in Santa Barbara, is a key investor in the property, listed at $15.9 million. Called the Jewel of Kahana, the half-acre property has 250 feet of ocean frontage. The main house and two-story detached guest quarters include eight bedroom suites.
December 10, 1997 |
Internet start-up Elemental Software Inc. has raised $8 million from a group of investors, including Microsoft Corp., which took a "significant" but undisclosed stake in the Carlsbad-based company. Elemental's flagship Drumbeat software allows business professionals to create sophisticated Internet Web pages without programming knowledge, President Peter Hirshberg said. Other investors included Japan's CSK Corp.