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
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The bottom linefeature Working families continue to struggle; The least-trusted industries; The bestselling vehicle; Mobil device use triples; Global unemployment among the young
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The bottom line
feature The cost of e-filing; Dipping into nest eggs early; What Americans are drinking; Planning for death; How tax refunds are spent
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The bottom line
feature Building bigger houses; And tuition at OSU is?; Christmas at McDonald's; Self-gifting at Christmas; Lloyd’s prepares for Hurricane Sandy claims; Google's billions
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The bottom line
feature Good results for the third quarter; Compensation at financial firms hits a high; Three cities with recovering economies; Good year for car sales; Broadway's best performance ever; Tax bite is less in 2010 than in 1980
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The bottom line
feature Airlines cut domestic flights; Income up in small cities and rural areas; Bond and Lincoln lift box office earnings; Don't be fooled by Black Friday; The high toll of identity theft
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The bottom line
feature The gender pay gap; U.S. economic growth; Parents who argue about money; Online subscriptions rise
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The bottom line
feature Can the U.S. keep up?; Airlines spend billions on runway taxiing; Americans exaggerate their working hours; The Dow Jones's 67.9 percent gain; Success and summer babies
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The bottom line
feature Consumer confidence jumps; Wall Street cuts jobs, raises pay; Goldman Sachs's muppet hunt; Desktop web searches decline; Pizza Hut scraps debate freebie