NEW YORK (CNNMoney.com) — A key measure of consumer confidence jumped much more than predicted in August, as the job market outlook and business expectations improved, said a report released Tuesday.
D7 Video: Yahoo CEO Carol Bartz and Kara Swisher
Yahoo CEO Carol Bartz took the stage at the D: All Things Digital conference for a feisty chat with Kara Swisher about the Internet giant.
(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.
The company will close customer accounts next month, leaving a million borrowers looking for credit at a time when lenders are pulling back. And Advanta’s small-business customers aren’t the only ones in limbo: So are the investors whose bond purchases financed Advanta’s expansion over the past decade.
NEW YORK (CNNMoney.com) — Microsoft Corp. on Thursday offered Internet users a first glimpse at Bing, its fresh attempt to gain ground in the online search market.
Bing is a search engine to replace its current Live Search product. Microsoft hopes it will provide users with a more streamlined, focused approach to search. Bing is set to launch on June 3.
The SBA plans to release guidance to banks by June 8 and will be ready to accept lender loan packages by June 15. Business owners will need to apply directly to banks for the loans, but the SBA will offer those banks a 100% guarantee on the ARC loans they make. If the business owner defaults, the SBA will pay off the loan.
He’s right, of course. But there’s another factor here that might make us yearn for a little more righteous indignation on the part of our mayor. I’m referring to the involvement of a certain newspaper from a certain city. The New York Times Company (NYT) bought the Globe for $1.1 billion in 1993, and later added a 17% stake in two other Boston heirlooms, the Red Sox and Fenway Park.
Crediting fiscal discipline, nation’s No. 1 auto retailer manages a profit and says it expects improvement later this year.