December 18, 2013 |
A year ago, activist investor Bill Ackman rocked Wall Street with a $1-billion bet that shares of Herbalife Ltd., the Los Angeles seller of weight-loss and nutrition products, would slide to zero. Herbalife was a "pyramid scheme," bound to be undone by regulators and destroyed, he told the Los Angeles Times and other media outlets Dec. 19. Herbalife shares plummeted 42% in the next five days, hitting a midday low of $24.24 on Christmas Eve. At the time, it seemed that 2013 would be difficult for Herbalife.
December 15, 2013 |
Major corporations raise capital by selling shares in themselves. So do companies with little or no substance behind them. Even start-ups sometimes "go public" before they really start up. So why can't America's homeowners? They can. In yet another new twist on the age-old concept of shared appreciation, they soon may be able to raise money for a down payment, or build up enough equity to jettison a higher-rate mortgage for a less expensive one, by "selling" shares in their homes.
December 11, 2013 |
MEXICO CITY - Mexico has taken a giant step toward the most radical opening of the country's nationalized oil and gas industry in 75 years, a move analysts say could boost lagging petroleum production here and further cement North America's new reputation as an energy-producing powerhouse. Passage of a bill in the Mexican Senate was hailed this week by oil industry analysts and goes much further in the effort to attract outside investment to Mexico than a proposal originally introduced in August by President Enrique Peña Nieto's centrist Institutional Revolutionary Party, or PRI. Peña Nieto praised the more vigorous measure Wednesday.
December 3, 2013 |
California regulators have accused the husband of an Orange County assemblywoman of misleading investors in his real estate lending business. The Department of Real Estate accused Dan Harkey, husband of Assemblywoman Diane Harkey, of self-dealing and "making misrepresentations of fact to investors. " The agency is seeking a disciplinary hearing to determine whether to suspend or revoke the corporate broker license issued to Harkey's three companies, Point Center Financial Inc., National Financial Lending Inc. and Calcomm Capital Inc. PHOTOS: The costliest bank failures Regulators filed an accusation against Harkey and the three companies Nov. 19. A hearing on the allegations has not been scheduled.
December 3, 2013 |
California regulators have accused the husband of an Orange County assemblywoman of misleading investors in his real estate lending business. The Department of Real Estate alleged that Dan Harkey, husband of Assemblywoman Diane L. Harkey (R-Dana Point), engaged in self-dealing and made "misrepresentations of fact to investors. " The agency's disciplinary action seeks to suspend or revoke the corporate broker license issued to Harkey's three companies, Point Center Financial Inc., National Financial Lending Inc. and Calcomm Capital Inc. An administrative hearing on the accusation, filed Nov. 19, has not been scheduled.
December 1, 2013 |
Tamara Mellon's life combines the hallmarks of Greek tragedy, Dynasty-style soap opera and the modern fairy tale of a career woman who longed to have it all. Few stones are left unturned in the autobiography of the creative visionary behind Jimmy Choo, a multimillion-dollar accessories powerhouse, which Mellon forged by encapsulating the sex, glamour and full-throttle potency of stiletto heels in accessible product lines for the 21st century luxury...
November 25, 2013 |
The stock market rally rolled on Monday, with the Nasdaq composite index crossing 4,000 for the first time since 2000. Though it remains far below its all-time high, the technology-laden Nasdaq is up more than 32% this year, making it one of the best-performing market indexes of 2013. Nasdaq rallied strongly Monday morning, topping 4,007 before sagging to just below 4,000. Nasdaq has been propelled by many of the same forces that drove the Dow Jones industrial average above 16,000 last week: solid corporate profits, low interest rates and the Federal Reserve's economic-stimulus campaign.
November 23, 2013 |
NEW YORK - Month after month, Stan Wright watched impatiently as the stock market climbed higher while his money sat on the sidelines earning next to nothing. Like many Americans, Wright, 51, yanked his savings out stocks during the 2008 financial crisis and pinned his hopes on historically safer investments in bonds. Now he wants back in on the stock market, which is in the midst of its strongest rally in a decade. "There is really, truly almost no place else to put money right now," said Wright, a Bay Area business owner who has sunk $10,000 into stocks in the last six weeks.
November 22, 2013 |
WASHINGTON -- President Obama's standing with global investors plummeted over the last two months amid fiscal fights and the flawed roll-out of the healthcare reform website, with just 38% of respondents in a new poll viewing him favorably. The figure in the Bloomberg Global Poll, released Friday, was down sharply from a 50% favorable rating in mid-September. The drop echoes Obama's plunging approval rating in other polls in recent weeks after problems with the new healthcare.gov website that launched Oct. 1. QUIZ: How well do you understand the Fed stimulus?
November 16, 2013 |
SAN FRANCISCO - Snapchat is not even 3 years old. It's run by a couple of twentysomethings with no prior business experience. And it has never made a cent. Yet investors are fighting for the opportunity to throw hundreds of millions at the mobile messaging service that is all the rage with teens. The tiny Venice Beach start-up just turned down a $3-billion all-cash offer from Facebook Inc. And then, according to the Silicon Valley rumor mill, it rejected an offer from Google Inc., this one for $4 billion.