February 5, 2013 |
Walt Disney Co. reported a 6% drop in first-quarter earnings, compared with a year ago, in part because of charges associated with its high-profile dispute with the creator of "Who Wants to Be a Millionaire" and a decline in operating income at the film studio. The Burbank entertainment giant reported net income of $1.4 billion, or 77 cents a share, for the quarter ending Dec. 29, down from $1.5 billion over the same period in 2011. Revenue for the first quarter rose 5% to $11.3 billion.
December 4, 2012 |
After the coffee. Before tormenting Giants fans about the Redskins win. The Skinny: Today's Morning Fix is 80% News Corp.-related. That wasn't intentional, it just sometimes works out that way. Stories include a probing profile of Elisabeth Murdoch, Roger Ailes' efforts to convince David Petraeus to run for president and how Hollywood took Michigan for a ride. Daily Dose: Sunday's midseason finale of "The Walking Dead" scored a bigger rating among adults 18-to-49 than any broadcast network show this season.
December 4, 2012 |
Walt Disney Co. has lost its appeal of a high-profile case concerning profits from the game show "Who Wants to be a Millionaire. " The Burbank media giant was ordered by a federal jury in 2010 to pay Celador International, the British company that created the game show, $269.4 million in damages over its accounting practices, along with $50 million in prejudgment interest. The dispute arose over allegations that Disney did not properly account for the value of the show, a major hit on its ABC network for three years beginning in 1999, as it struck deals between different divisions of the conglomerate.
November 15, 2012 |
WASHINGTON -- Mayors and millionaires are joining the parade of interest groups through the White House as the administration tries to build support for President Obama's plan to raise taxes on the wealthy. The president plans to visit New York City on Thursday to view damage from Superstorm Sandy, but Vice President Joe Biden is due to host about a dozen mayors from across the country for a conversation on the subject. Meanwhile, senior administration officials are set to meet with members of the Patriotic Millionaires for Fiscal Strength, a group of high earners lobbying Congress on behalf of the president's general approach to tax policy.
November 8, 2012 |
What do Thomas Steyer and Chris Kelly know that fellow California high-rollers George Joseph, Molly Munger, her brother Charles T. Munger Jr. and Nicolas Berggruen don't? All six multimillionaires bankrolled a ballot proposition in this year's election. But voters approved the ones backed by Steyer, a financier in San Francisco, and Kelly, a former Facebook executive; the rest effectively flushed their money down a rathole. Here's one reason: Steyer and Kelly had the good sense to align themselves with unions.
October 28, 2012 |
A counterpart to the biblical adage that the poor will always be with us is the notion that the rich will always be one tax hike away from leaving us. That's the foundation stone, after all, of the argument against raising taxes on "job creators" and of bestowing preferential treatment on capital gains (largely collected by the rich) over wage income (the sustenance of us other poor slobs). And it's a linchpin of the campaign against Proposition 30, Gov. Jerry Brown's proposal to raise income taxes on income above $250,000, topping out at a 13.3% rate on income over $1 million.
October 1, 2012 |
Mink-lined Birkenstock-style sandals? Check. Fuzzy, wuzzy mink pumps? Check. The Celine runway show was all about such cheeky luxe lounge statements. When it comes to fashion now, Celine designer Phoebe Philo has that je ne sais quoi . You only have to look at the fashion pack to know. Celine's minimal color-block totes and smooth calfskin clutches are the It bags du jour -- small pieces of the polished, pared-down aesthetic that Philo has helped popularize, and which has now trickled all the way down to Zara.
September 19, 2012 |
In the imaginary universe of Mitt Romney, the 47% of Americans who pay no income tax are loafers, shiftless bums and welfare queens who will all vote for President Obama in November. In the real world, that 47% includes the working poor, the newly unemployed, handicapped people, the elderly, veterans, 4,000 millionaires and the nation's greatest icon, the American cowboy. A few years ago, I helped move a herd of cattle with some honest-to-God cowboys on a big ranch near White Sulphur Springs, Mont.
September 19, 2012 |
To hear Republican presidential nominee Mitt Romney tell it, the "47%" of people who pay no federal income taxes are a bunch of government-hugging freeloaders who aren't pulling their economic weight. In fact, he's talking about his fellow millionaires. At least some of them. According to the Tax Policy Center, about 4,000 households with annual incomes over $1 million ended up paying zilch in federal income taxes last year. An additional 14,000 households falling into this category made between $500,000 and $1 million.
September 17, 2012 |
In case you were wondering, it's a swell time to be a billionaire. But it kind of stinks to be a mere millionaire. Market researcher Wealth-X says the number of people with at least $30 million in ready cash climbed to 187,380 last year but their total wealth fell 1.8% to $25.8 trillion, which is nevertheless still more than the combined economies of America and China. Taking the biggest hit were those with fortunes ranging from $200 million to $499 million. Their ranks fell by about 10% and the size of their wads dropped 11.4%.