From the front, Ryan & Wood Inc. Distilleries headquarters looks like a regular strip-mall office. But the building drops down a slope at its rear, creating a warehouse-like space three stories high. It’s there that the two men and still operator Jim Cook work amid pallets of grain and other raw materials, tanks of vodka and barrels of rum and whiskey spirits stacked to the ceiling.
Travis Wray, 39, was laid off from his job in financial services. While he looks for work, he’s been volunteering with groups like the Urban League and helping to launch a group of young Springfield professionals, the sort of effort that he says will bring the city back.
WASHINGTON — Documents unearthed by congressional investigators reveal disagreements among senior Federal Reserve officials about how to handle Bank of America Corp.’s acquisition of Merrill Lynch, fueling concern on Capitol Hill over giving the central bank even more power to regulate the financial system.
President Obama’s plan to overhaul the nation’s financial regulatory system received support yesterday from key Massachusetts congressional members who said changes are long overdue.
Logue, the chief executive of State Street Corp., a financial services giant in Boston that handles investments around the world, said he first started to worry in 2007, while traveling abroad on business. He feared that markets were becoming so complex and intertwined that the next hedge fund meltdown or foreign currency crisis could threaten the financial system, and ultimately State Street.
Going Inc. of Boston, founded in 2006, offers information on local parties and entertainment events. The company runs websites targeting 30 US cities, including Boston, Chicago, Miami, and New York. Patch Media Corp., based in New York, publishes community news online, covering five towns in New Jersey. Patch was launched in 2007 and funded by an investment company owned by AOL chief executive Tim Armstrong. Financial details of the transactions were not released, but the Associated Press reported AOL paid less than $10 million each for the two privately held companies.
As chief executive of BlackRock Inc (BLK.N: Quote, Profile, Research, Stock Buzz), already the largest publicly traded U.S. asset manager, Fink this week engineered a blockbuster deal to buy Barclays Plc’s investment unit BGI. Together they will become world’s biggest money manager with roughly $2.8 trillion of assets.
Christina Lampe-Onnerud, founder and chief executive of Westboro-based Boston-Power, Gov. Deval Patrick and other dignataries are expected to appear at an event today to announce that Boston-Power plans to renovate an old 455,000-square-foot Filene’s Basement distribution facility into a manufacturing plant to make state-of-the-art automobile batteries.
(NECN: Scot Yount, Newton, Mass.) – The man who exposed the largest Ponzi scheme in history is making a rare appearance tonight.
In the financial world he is a kind of geeky hero. Yet Harry Markopolos shuns the worldwide fame he has garnered by blowing the whistle on Bernie Madoff and the largest Ponzi scheme in the world.
Markopolos spoke at the Center For Asset Management’s annual conference at Boston College.
Markopolos and his team began their inquiry into Madoff in 1999. Markopolos was asked to try to reverse engineer Madoff’s investments, so that their Boston based firm could duplicate his results.
Markopolos-loves numbers, and it was enormously simple he says to use formulas to figure out that Madoff’s investment scheme was fraudulent. But what Markopolos found difficult–was convincing the Securities and Exchange Commission to investigate.
For nine years he kept up the quixotic fight-but the SEC wouldn’t take up the case. Now with Madoff having pleaded guilty-and thousands of investors bilked out of billions, the shy man who makes Whitman, Massachusetts his home says he still can’t sleep nights, even though he proved he wasn’t jousting at windmills.
He had done his best-even fearing for his life in the process, but it was not until the worst recession the county has seen in decades took hold–that Madoff was exposed.
Sergeant Daniel Wildgrube was writing Greer a ticket when she gunned her engine and sped off, hitting him with her car’s side mirror and forcing him to leap out of the way, according to his report. Wildgrube said he caught up to Greer, who was stuck in traffic, and ordered her to get out of the car because she was under arrest, but she again refused.