Archive for January 11th, 2010
The Boat We Think Roman Abramovich Should Buy Might Be Coming To New York
Norwegian Cruise Line has been trying to find something to do with the rusting remains of the SS United States, an ocean liner bigger than the Titanic that was once the fastest in the world.
We think Roman Abramovich should buy it, on account of his passion for big boats. Right now, Roman’s busy putting the finishing touches on his new 540-foot yacht Eclipse (rumored to be complete with missile defense system), which means he’ll soon be in the market for something bigger. The 990-foot United States seems perfect.
But Roman hasn’t expressed interest yet. So a group calling itself the SS United States Conservancy is suggesting that the boat be towed from Philadelphia to New York and made into a floating hotel. Patrick McGeehan has the details.
See Also: The Amazing Stuff Of Roman Abramovich
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See Also:
- The Amazing Stuff Of Roman Abramovich
- Nouriel Roubini Parties At Roman Abramovich’s Mansion With Gwen Stefani, Ron Perelman, And Lots Of Ladies
- Do We Have A Boat For Roman Abramovich!
SEC Won’t Go After John Thain Or Ken Lewis
Despite Judge Rakoff’s repeated questions of who, exactly, was responsible, the SEC case against Bank of America will remain just that.
The SEC said today that it will not file civil charges against any individuals, including executives and directors, in relation to the company’s takeover of Merrill Lynch.
That means that Ken Lewis and John Thain are off the hook.
The commission said it did not find evidence that any individuals deliberately concealed information from its attorneys, nor did they intentionally seek to mislead shareholders.
“For these reasons, the SEC’s proposed complaint does not seek charges against any individual officers, directors or attorneys,” according to the statement quoted in The Wall Street Journal. “SEC staff has advised the Commission that, after a careful assessment of the evidence and all of the relevant circumstances, it has determined that charges against individuals for their roles in connection with proxy disclosure are not appropriate.”
This decision has no impact, however, on the SEC’s lawsuit against the bank itself.
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See Also:
- Rakoff To BofA: You Can’t Use News Reports As Evidence When You Told Shareholders To Ignore The Media
- Judge Rakoff Gets Rajaratnam SEC Case
- BofA Shareholders Make $1.5 Billion On Ken Lewis’s Retirement
Ken Lewis Is Off The Hook (With The SEC, Anyway)
Despite Judge Rakoff’s repeated questions of who, exactly, was responsible, the SEC case against Bank of America will remain just that.
The SEC said today that it will not file civil charges against any individuals, including executives and directors, in relation to the company’s takeover of Merrill Lynch.
The commission said it did not find evidence that any individuals deliberately concealed information from its attorneys, nor did they intentionally seek to mislead shareholders.
“For these reasons, the SEC’s proposed complaint does not seek charges against any individual officers, directors or attorneys,” according to the statement quoted in The Wall Street Journal. “SEC staff has advised the Commission that, after a careful assessment of the evidence and all of the relevant circumstances, it has determined that charges against individuals for their roles in connection with proxy disclosure are not appropriate.”
This decision has no impact, however, on the SEC’s lawsuit against the bank itself.
Join the conversation about this story »
See Also:
- Rakoff To BofA: You Can’t Use News Reports As Evidence When You Told Shareholders To Ignore The Media
- Judge Rakoff Gets Rajaratnam SEC Case
- BofA Shareholders Make $1.5 Billion On Ken Lewis’s Retirement
Glenn Beck Shows His Audience The Scariest Jobs Chart Ever
Fox News host Glenn Beck used the chart we’re calling “The Scariest Jobs Chart Ever.”
The chart, which was put together by Calculated Risk, demonstrates that the jobs decline as a percentage of the workforce is the worst since the Great Depression, matching the sharp but short drop in 1948, as the war machine wound down.
Equally important, the duration of these job losses, as well as the lack of a sharp recovery (at least so far), suggests that the problem will be with us for a long while. We’re now 24 months into this decline, and we’re still at the bottom. By this point in most previous recessions, we had already recovered all of the lost jobs.
We’re glad this is getting the attention it deserves. (And thanks to our friends at Mediaite for grabbing the video!)
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Who’s Sleeping Now?
The Beijing leadership clearly understands that the E.T. — Energy Technology — revolution is both a necessity and an opportunity, and they do not intend to miss it.
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