The Securities and Exchange Commission (SEC) has charged a municipality for allegedly making misleading financial statements outside of the usual securities filings. The SEC faulted Harrisburg, Pennsylvania , the state’s capital, for misleading statements in the city’s budget report and the mayor’s state-of-the-city address during the 2009-2011 period. At the time, Harrisburg was teetering on the brink of bankruptcy, and it remains in financial straits today, with a state-appointed receiver overseeing its finances.
T. Boone Pickens, the billionaire founder, chairman and CEO of hedge fund BP Capital, may be one of the most outspoken insiders in the energy industry. Never one to shy away from controversy, Pickens eagerly discussed “fracking,” Oklahoma earthquakes and his decision to get out of wind energy in an interview at the Milken Institute Global Conference 2013.
Nice guys finish last.
Since the financial crisis broke in 2007, the Fed has struggled to keep the economy intact with a series of novel strategies including the massive purchasing of Treasuries and mortgage backed securities, known as quantitative easing. As a result, its balance sheet has swelled to more than $3 trillion from less than $900 billion--a bloat that is worrying many in the financial markets. How can the Fed reduce its balance sheet—its exit strategy—without overwhelming the markets with so much money that inflation sets in, rising at a rate that the Fed can’t control?
Follow The Daily Ticker on Facebook! Amazon ( AMZN ), which has come under intense scrutiny for unfavorable labor conditions at its fulfillment centers, announced a new worker-education program this week to help improve the careers of some of the company's most dedicated employees.
Follow The Daily Ticker on Facebook! Fans of Boardwalk Empire know that Atlantic City was a hotbed of intrigue, corruption and drama during the Prohibition era. In The War at the Shore , Richard "Skip" Bronson tells the real-life story of the intrigue, corruption and drama that gripped Atlantic City in the 1990s
While landowners are profiting from fracking in Pennsylvania, it's up to them to hunt down potentially deadly violations.