But the I.R.S. commissioner, Doug Schulman, said the agreement with UBS was a “major step forward” in the government’s efforts to pierce bank secrecy, and he warned that “wealthy Americans who have hidden their money offshore will find themselves in a jam.”
It was more than 40 years ago, on a March night in 1968, when WBCN-FM (104.1) decided to break from its classical music format. Instead of Bach, listeners that evening heard “I Feel Free,’’ by the Eric Clapton-led rock band Cream, and right then Boston’s local music scene was transformed.
Meanwhile, the United States attorney’s office for the Southern District of New York, along with the Federal Bureau of Investigation, also unsealed charges against Mr. Weitzman. They include fraud, lying to investors and converting money for his own use. Some of the charges carry maximum penalties of 20 years in prison and a $5 million fine.
Actively mulling bids for the newspaper, according to these people, are Stephen Pagliuca, a private equity executive and Celtics co-owner; Jack Connors, co founder of a major advertising firm and chairman of Partners HealthCare; and Stephen Taylor, a former Globe executive and member of the family that sold the Globe to the New York Times Co. in 1993.
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.
The Obama administration told industry officials on Friday that it was leaning toward making such a recommendation, according to officials who attended a private one-hour meeting between President Barack Obama’s economic advisers and representatives from about a dozen banks, hedge funds and other financial groups.
The meeting came two days after the company reported a first-quarter loss of $74.5 million. With advertisers continuing to pull back, revenue dropped 19 percent in the first quarter, and Chief Executive Janet Robinson said the current quarter looks about as bleak.