Recovering the assets of Madoff investors
Irving Picard, the trustee appointed to recover assets for investors in Bernard Madoff’s Ponzi scheme, spent $228.3 million on the case last year. The investigation is expected to cost an additional $1.1 billion before it is complete. The cost is ultimately borne by some of the same firms he’s suing, whose contributions fund Picard’s employer, the Securities Investor Protection Corp.
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Where venture captalists see gold
Venture capitalists last year invested $1.1 billion in startups that track online behavior to send targeted advertising to consumers. Despite concerns of privacy advocates and congressional threats to rein in the practice, “it’s a huge market and it’s growing,” says investor Chris Fralic of First Round Capital.
The Wall Street Journal
Hollywood's creative accountants
Hollywood accounting departments are a hotbed of creativity, say disgruntled directors and performers who have been promised a share of movie profits. Although the 2007 hit Harry Potter and the Order of the Phoenix raked in $938 million worldwide, say Warner Bros.’ accountants, it lost $167 million after distribution and promotion costs were deducted from the take.
Financial Times
Trucking costs to rise
Trucking firms are preparing to impose their largest rate increases since 2005, with increases of 5 percent or more expected. Rates fell from 2007 to 2009 as reduced consumer demand bit into freight runs. In addition, more expensive diesel fuel and increased regulation have added to truckers’ costs.
USA Today