Finance Matters

Archive for February 24th, 2010

Blackstone only bought SeaWorld in October. It was a $2.7 billion purchase.

Now they have the blood of a young SeaWorld trainer on their hands.

We heard back from Blackstone a few moments ago. Here’s what they said:

“It’s a horrible tragedy. Our hearts go out to the young woman’s family and friends.”

As far as the decision on whether or not to kill the whale, Blackstone says “SeaWorld is the expert.”

The PE firm is in “constant communication” with SeaWorld about the matter, but it’s only been a few hours since the woman was killed. “There’s a lot we don’t know yet,” they said.

Is this the end of killer whale show industry?

Will the orca whale (valued at almost $1 million) be replaced if he’s let go?

“We don’t know yet.”

They said SeaWorld will put out a press release soon.

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See Also:

• We’re Waiting For Comment From Blackstone On Its Serial-Killer Whale
• Seaworld And Blackstone Have A New Problem: Killer Whale "Tilikum" Has Killed Before
• It’s Time To Put An End To Killer Whale Shows

Viewers are rapidly consuming video online as more and more sites are launching video content and increased broadband penetration enables more people to view video streams.

In fact, online video audience grew nearly twice as much in December 2009 versus total internet audience.  This follows a similar disparity in growth in recent months like August and September.

 

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Joe Stack’s wife was “threatened enough” by Stack that she and her daughter and stayed in a hotel the night before he flew his plane into an Austin office building last Thursday.

Stack’s stunt killed not just himself, but also 68-year-old IRS employee Vernon Hunter. Hunter’s wife, Valerie, filed a lawsuit in Austin state court claiming that Sheryl Stack had a duty to “avoid a foreseeable risk of injury to others,” the Austin American-Statesman reported.

The lawsuit also seeks to bar the Travis County medical examiner’s office form asking Hunter’s autopsy public.

Read the full AA-S story here.

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See Also:

• Host of Joe Stack’s Manifesto Site Deletes Claim That FBI Asked For Its Removal
• Photo Of Austin Suicide Pilot Joe Stack
• The FBI Didn’t Take Down Austin Plane Crash Pilot Joe Stack’s Online Manifesto

If you notice the stock market has a low volume tomorrow, it’s probably due to the “paralyzing blizzard” that’s set to hit our area tomorrow.

Accuweather has the details:

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The same storm that brought a gentle snowfall across Texas on Tuesday will reach the Northeast in the form of an atmospheric monster with damaging winds, blinding snow, torrential rain, huge waves and flooding.

In the hardest-hit areas, it will seem more like a “snowacane,” as a mere blizzard may not adequately describe conditions of this soon-to-be powerful nor’easter.

Wind
Wind gusts can reach 70 mph in some areas, just shy of hurricane force. Many locations in the mid-Atlantic and New England will endure gusts topping 50 mph at some point Thursday to Friday.

Winds of this strength will down trees and power lines. Expect flying debris ranging from trash cans to shingles. Significant property damage can occur.

Tides
The powerful winds will lead to coastal flooding in New England, while causing disruptive blowout tides and very low water levels in some seaports the mid-Atlantic from New Jersey to the Carolinas.

Snowfall
Snowfall from the storm will accumulate 1 to 2 feet from western Maine to northern Vermont and over much of the Mohawk and Hudson valleys in New York state as well as the Catskills and Poconos. Albany, Binghamton, Rochester and Scranton fall within this zone.

A broad area of 6- to 12-inch snowfall will fall from northern New Brunswick to central New Jersey, much of Pennsylvania, northeastern Ohio and southern Ontario. New York City, Buffalo, Montreal, Ottawa, Toronto and part of the Philadelphia area lie in this area.

Flooding
Northeast of the storm’s center, flooding from heavy rain, snow melt and the ocean is to be expected in eastern New England. This includes Boston, Providence and Portland.

Travel
In addition to widespread damage, the storm threatens to impact travel severely throughout the Northeast and sporadically elsewhere across the nation.

Some roads will close due to heavy snow, downed trees and flooding. Flight delays and cancellations will mount at airports in the Northeast, while ripple-effect problems expand across the nation and abroad.

Many school in the region may be closed, delayed or have early dismissal.

Get Ready
While we have the calm before the storm through early Thursday, the wintry tempest will rage fiercest from Thursday afternoon into Friday morning.

Be sure to keep checking back with AccuWeather.com for the latest updates on this dangerous, damaging and disruptive storm.

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See Also:

• Metro North Puts Out A Special Snow Storm Schedule
• The Snow Kills Volume As The Markets End Slightly Down For The Day
• The Snow Arrives In New York, National Weather Service Issues Blizzard Warning

Two women filed a lawsuit against AIG’s derivatives unit for promoting a “boy’s club” environment and not including them.

According to Bloomberg, Susan Potter and Deonna Taylor claim AIG managers misled them about salary caps, paid younger and male employees more for similar work and then fired them in retaliation for filing discrimination charges.

The women will have some obstacles to overcome to prove their case.

Potter was a receptionist at AIG who rose through the ranks to become a Vice President at AIG in Wilton, CT. Taylor was also a Vice President.

Also hurting their case are emails from the women to Cassano. (Provided to Bloomberg from Cassano at Gibson, Dunn & Crutcher LLP in New York)

From Potter to Cassano in 2002: thank you for a “wonderful bonus.”

From Taylor to Cassano in 2008: thank you for “a career opportunity.”

(Another random thing we noticed: Susan Potter decorated for AIG’s Christmas party in 2005. She did a pretty awesome job.)

What AIG did wrong, they say, mostly points at Joe Cassano. One of the women claims Cassano said he prefers young workers with “curb appeal,” not those who look like his aunt. They also say Cassano “generally promoted a ‘boys club’ atmosphere and frequently made discriminatory statements about the staff.”

The women are seeking back pay, benefits and unspecified damages. AIG denied any wrongdoing.

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See Also:

• Feds Ready To Haul In Joe Cassano Over Tax Fraud Case
• Will AIG Force The US To Bail Out Greece?
• Rumors Swirl Inside Of AIG That PineBridge Sale May Be In Danger