The SEC moves against another alleged insider-trading ring
Filed under: Company News, Investing
I like what the Securities & Exchange Commission is doing this days. It cracked down on insider trading at Galleon Holdings, the former $3.7 billion hedge fund whose boss, Raj Rajaratnam, is out on $100 million bail. But the SEC hasn’t stopped there: Yesterday it announced an indictment against a former chief financial officer of ValueAct Capital.
You may recall that several years ago, ValueAct Capital cleverly bought a huge chunk of Martha Stewart Omnimedia (MSO) after Stewart was indicted for insider trading in the stock of biotech company Imclone in June, 2003. Stewart ultimately went to jail. ValueAct ended up owning 22 percent of MSO and sold most of its stake in 2005 after the stock rebounded, picking up a nice profit in the process.
Continue reading The SEC moves against another alleged insider-trading ring
The SEC moves against another alleged insider-trading ring originally appeared on DailyFinance on Sat, 31 Oct 2009 20:00:00 EST. Please see our terms for use of feeds.
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The SEC moves against another alleged insider-trading ring
Tags: a-former-chief, a-friend-via, a-huge-chunk, down-on-insider, galleon, insidertrading, investing, martha-stewart, stock, stopped-there
Tricked-Out Treat! Galpin Auto Sports builds Halloween-themed hearse
Oct 31, 2009 Object
Filed under: Aftermarket, Etc.
Galpin Auto Sports Halloween-themed Hearse - Click above for high-res image gallery
We generally don’t think of a hearse as a great platform for customizing, but then again, we’ve never known Galpin Auto Sports to shy away from messing with anything on four wheels. That’s why we weren’t surprised to see this specially-built conveyance of corpses constructed by the Southern California customizer. The hearse features a Halloween theme including dozens of hand-painted skulls on the front and side, as well as a spiderweb grille. It’s not all spooky, though, and Galpin has made the interior an inviting place to be, with a working barbeque, chilled cooler, and a flatscreen TV all in the coffin. Not a bad place to spend your last few hours above ground!
[Source: Galpin Auto Sports]
Tricked-Out Treat! Galpin Auto Sports builds Halloween-themed hearse originally appeared on Autoblog on Sat, 31 Oct 2009 19:56:00 EST. Please see our terms for use of feeds.
Tags: aftermarket, chilled-cooler, for-customizing, galpin, galpin auto sports, galpin auto sports hearse, galpin-auto, galpinautosports, high-res-image, inviting-place, skulls-on-the, specially, sports
The Lingenfelter 455 T/A Concept really is badass
Filed under: Concept Cars, SEMA Show, Coupe, Performance, Chevrolet, Pontiac
Lingenfelter 455 T/A Concept - See more photos at Car and Driver
Car and Driver is the first outlet to post real live photos of the SEMA-bound Lingenfelter 455 T/A Concept. By taking the looks of the ‘70 Trans Am and adapting them to the new Chevy Camaro, Lingenfelter has created something that will have you playing “What if..” senarios regarding Pontiac over and over again in your heads. Imagine a world in which you could walk into a GM dealer and pick between this and the G8 GXP…
Anyway, snap out of it, because that ain’t happenin’. We think what’s likely to happen, if people go as batsh*t crazy over this creation at SEMA as we think they will, is that Lingenfelter will probably offer the package to customers. That’s probably good, anyway, as we can’t see General Motors spending the bucks to offer the 455 T/A’s upgraded interior (yeah, it’s premium vinyl, baby) and monstrously-upgraded engine. See, that 455 nomenclature’s no joke. The 455 CID/7.5-liter V8 rocks an 11.5:1 compression ratio, ported and polished LS7 heads, a new intake, and a forged crankshaft, according to CD. The exhaust is by Corsa, the honeycomb rims are custom jobs, and most importantly, the engine comes correct with 655 horses and 610 lb-ft of torque. We’ll have plenty more on this bad mofo next week from SEMA. In the meantime, head over to CarandDriver.com for more images.
[Source: Car and Driver via Camaro5 | Image: Patrick M. Hoey]
The Lingenfelter 455 T/A Concept really is badass originally appeared on Autoblog on Sat, 31 Oct 2009 18:07:00 EST. Please see our terms for use of feeds.
Tags: a-friend-via, a-new-intake, brealing, chevrolet, driver, entry, general-motors, lingenfelter455taconcept, meantime, offer-the-455, sports
Teenage girls earn extra cash for college — as long as they don’t get pregnant
Oct 31, 2009 Object
Filed under: Economy
When Mia Hubbard of Greensboro, North Carolina, enters Wake Forest University next fall, she’ll receive a little financial boost from the nonprofit support group she joined in seventh grade.
For six years, Hubbard has belonged to an adolescent girls’ group called College Bound Sisters, which focuses on fellowship, goal-setting, age-appropriate sexual education, and getting into college. Hubbard will complete the program by graduating high school and enrolling in college. At that point, she’ll receive a stipend of more than $2,000: a dollar for each day she’s been a participant in the group.
Continue reading Teenage girls earn extra cash for college — as long as they don’t get pregnant
Teenage girls earn extra cash for college — as long as they don’t get pregnant originally appeared on DailyFinance on Sat, 31 Oct 2009 18:00:00 EST. Please see our terms for use of feeds.
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Teenage girls earn extra cash for college — as long as they don’t get pregnant
Tags: a-cash-for, college, collegeboundsisters, entry, get-pregnant, graduate, hubbard, into-college-, nonprofit, north-carolina-, teenagers, which-focuses
Lotus hires former Ferrari/Fiat racing chief Claudio Berro as new motorsport director
Filed under: Motorsports, Hirings/Firings/Layoffs, Lotus
Do you remember back in 1996 when Michael Schumacher left Benetton for Ferrari? They didn’t just get Schumi; along with him came master strategist Ross Brawn and designer extraordinaire Rory Byrne. Together, the wonder team built the Scuderia back into a championship-winning powerhouse. Well, we have a feeling there are some people in Maranello who may be getting acquainted with the flip side of that particular coin.
Following the appointment of Dany Bahar - who left his position as Ferrari’s senior vice president of marketing - to the post of chief executive at one-time rival Lotus comes news that the British engineering firm has scored Claudio Berro as its new director of motorsport.
Although Berro hasn’t been at Maranello for a few years now, he’s a well-known personality in Italian motor racing. Not unlike his successor Jean Todt - recently elected president of the FIA - Berro started out as a co-driver for the Peugeot Talbot rally team before kicking off an impressive career as a team manager. Before going on direct the ill-fated Speedcar Series in the Middle East, Berro headed up racing operations for Ferrari, Maserati, Alfa Romeo and Abarth individually, and then the entire Fiat Group, managing the industrial empire’s F1, GT, touring car and rally teams.
Now at Lotus, Berro will be responsible for implementing the return to racing that Bahar recently outlined. However, his role with the Malaysia-based Lotus F1 team remains to be seen. Details in the press release after the jump.
[Source: Lotus]
Lotus hires former Ferrari/Fiat racing chief Claudio Berro as new motorsport director originally appeared on Autoblog on Sat, 31 Oct 2009 17:34:00 EST. Please see our terms for use of feeds.
Tags: british, claudio-berro, driver, entry, ferrari, lotus, lotus f1, meantime, middle-east, racingdirector, speedcar-series, successor
Costco’s corporate documents are models of simplicity
Filed under: Company News, Costco Wholesale Corp.
I’ve always been a big fan of the phrase “keep it simple, stupid,” which apparently was created by a person who designed spy planes for a living. But keeping it simple is a lot easier to say than do when it comes to Securities & Exchange Commission filings. I know, because I’ve had to read plenty of them.
In a nutshell, 10Ks, 10Qs, and proxy statements are usually anything but simple. Instead, they’re often dozens (or even hundreds) of pages written in some variation of English that I like to think of as accounting-speak mixed with lawyer-speak. So you can imagine my surprise — no sheer delight — when I recently came across the 10K filed by Costco (COST), the giant warehouse club.
Continue reading Costco’s corporate documents are models of simplicity
Costco’s corporate documents are models of simplicity originally appeared on DailyFinance on Sat, 31 Oct 2009 17:00:00 EST. Please see our terms for use of feeds.
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Costco’s corporate documents are models of simplicity
Tags: a-big-fan, a-cash-for, cost, costco, hubbard, into-college-, jim sinegal, keep-it-simple, nonprofit, sec filings, teenagers, warehouse-club
Ford and Canadian Auto Workers reportedly reach a deal
Filed under: Plants/Manufacturing, Ford, UAW/Unions, Canada
Ford Motor Company and the leadership of the Canadian Auto Workers union have reached a tentative agreement after a marathon four-day wrap-up to negotiations. Union membership needs to approve the deal, which will guarantee a Great White North presence for Ford until at least 2012. Voting is underway this weekend, and if approved, the CAW will be responsible for building 10 percent of Ford’s North American production, down from the current 13 percent, which the union had been trying to hold on to.
Workers did agree to time off reductions, and pledged that new employees will have to pay into their pensions. Ford’s given its word that the company will build as many vehicles in Canada as it sells there, and the union deemed the pledge good enough to grant GM- and Chrysler-style concessions to Ford.
The Panther platform has been given its last rites; the St. Thomas Assembly plant is the only Ford location currently building the body-on-frame biggies, and that plant will close in September 2011. The 1,600 people in Ontario who build Town Cars and Grand Marquis are understandably unhappy about word that Ford intends to shutter the plant, but the Panther has cheated death more than once. This time, it may stick.
Better news for CAW members is that Ford’s Oakville assembly complex, also in Ontario, has the go-ahead to add a third shift when needed. Ford also says it will manufacture a new vehicle at Oakville, which currently builds the Edge, Flex, MKX, and MKT crossovers, but that will likely come after the current labor agreement expires.
[Source: CBC News, Photo: Ford/CC]
Ford and Canadian Auto Workers reportedly reach a deal originally appeared on Autoblog on Sat, 31 Oct 2009 16:09:00 EST. Please see our terms for use of feeds.
Tags: builds-the-edge, ford edge, fordcrownvictoria, fordontario, fordunion, grand-marquis, lincolnmkt, news, panther platform
Health insurer earnings are suffering from swine flu and coming reforms
Filed under: Company News, Earnings
The onset of H1N1 flu season and the coming health-care reforms are putting health insurers — and their latest quarterly reports — in the spotlight. With the exception of Aetna (AET), most insurers’ shares have dropped as investors worry about potential fallout of reform and from rising swine flue costs and insurance for people who’ve lost their jobs. Laid-off workers who become insured under COBRA plans generally cost companies more than employees in regular group plans.
Continue reading Health insurer earnings are suffering from swine flu and coming reforms
Health insurer earnings are suffering from swine flu and coming reforms originally appeared on DailyFinance on Sat, 31 Oct 2009 15:30:00 EST. Please see our terms for use of feeds.
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Health insurer earnings are suffering from swine flu and coming reforms
Tags: a-friend-via, about-potential, coming-reforms, from-swine, health care costs, health costs, health insurance costs, healthcarecosts, healthcarereform, healthcosts, insurance, insurance-for, plans-generally, regular-group, the-exception
Scion brand finally headed to Canada next September
Filed under: Scion, Toyota, Canada
It’s official: Scion is headed to the land of Bob and Doug. Toyota’s sub-brand will arrive in 45 dealerships in Montreal, Toronto and Vancouver ten months from now, in September 2010. Scion’s full model range will be offered — xB, xD, and tC — and dealers will present them in a “store within a store” concept, which makes it sound like passwords, burlesque, and moonshine will be involved.
To give you Canuck Scion mavens something to do for the next eleven months, there’s a Canadian scion website. It’s a little barren right now, but after you take a quick survey it’ll let you know things like the Scion badge was “created to symbolize non-conformity, authenticity and personal style.” And then there are links to other Scion content, such as an interview with Mot
Tags: a-friend-via, a-quick-survey, brand-finally, like-the-scion, little-barren, makes-it-sound, montreal, scion, sub-brand-will, toronto, toyota
Dodge Challenger NASCAR Nationwide Series racer unveiled
Filed under: Motorsports, Coupe, Performance, Dodge
2010 Dodge Challenger New Nationwide Series racer - Click above for a high-res image gallery
NASCAR’s rollout of the new Nationwide Series racer has garnered buzz already with the introduction of the first-ever Mustang-branded stocker, and it got another shot in the arm yesterday at Talladega when Chrysler pulled the wraps off its brand-new Dodge Challenger Nationwide racer. We personally love the fact that the Challenger NNS car retains the same general front-end look as the production street car — partially restoring an element that’s been missing from stock cars for years now. The new Nationwide Mustang and Challenger will join their yet-to-be-unveiled counterparts from Chevy and Toyota (don’t hold your breath for a Nationwide Camaro) in four races on the 2010 Nationwide Series calendar: Daytona in July, then later dates at Michigan, Richmond, and Lowe’s Motor Speedway. The new car designs are expected to be fully adopted for the 2011 NASCAR Nationwide Series season. This process mimics the way NASCAR rolled out the Car of Tomorrow in the top-tier Sprint Cup series. Check out Dodge’s official press release after the jump, and have a closer look at the new Dodge Challenger Nationwide car in the gallery below. As soon as Chrysler PR uploads photos that show more than just the car’s front end (come on, guys…), we’ll update the gallery.
[Source: Dodge Motorsports]
Continue reading Dodge Challenger NASCAR Nationwide Series racer unveiled
Dodge Challenger NASCAR Nationwide Series racer unveiled originally appeared on Autoblog on Sat, 31 Oct 2009 12:24:00 EST. Please see our terms for use of feeds.
Tags: 2010, a-closer-look, a-friend-via, challengerstockcar, dodge, introduction, sports, stock car, stockcar
