EarthShell, a small Maryland company that makes environment-friendly packaging (among
others) may wink out of existence
thanks to PIPEs
, or private investments in public equities. Who likes PIPEs? Hedge Funds
, mostly. Companies that take the pipe
, as it were, may be sealing their doom. 10 percent of PIPE deals done this year are 'death spirals'
, where the company's stock price plummets from short selling by the financiers who structured the deal in the first place. And of course it's legal if you don't
get caught shorting the stock naked and covering with the shares from the PIPE.
(BTW, http://www.earthshell.com appears to be on the margins now or I'd have linked it).
posted by nj_subgenius
on Dec 27, 2006 -
How can a credit card company fool you? Let me count the ways. When Brad Kehn received his first credit card from Capital One Financial in 2004, it took him only three months to exceed its $300 credit limit and get socked with a $35 over-limit fee. But what surprised the Plankinton, S.D., resident more was that Cap One then offered him another card, even though he was over the limit -- and then another and another.
posted by storybored
on Dec 10, 2006 -
The Motley Fool's new CAPS
stock-picking system keeps track of your stock picks and whether they outperformed or underperformed the market. Then everyone's picks are aggregated, weighted by the quality of their past records, to rank individual stocks. Here's how it works.
posted by ikkyu2
on Oct 4, 2006 -
Plunging into the shadows:
"In thinly traded, lightly regulated and untransparent markets
, the bold
can make an awful lot of money—and they can lose it
on an even more extravagant scale... In today's caffeine-fuelled dealing rooms, a barely regulated private-equity group could very well borrow money from syndicates of private lenders, including hedge funds, to spend on taking public companies private. At each stage, risks can be converted into securities
, sliced up, repackaged, sold on and sliced up again. The endless opportunities to write contracts on underlying debt instruments
explains why the outstanding value of credit-derivatives contracts has rocketed
to $26 trillion—$9 trillion more than six months ago, and seven times as much as in 2003."
posted by kliuless
on Sep 24, 2006 -
The Net Democracy Guide
contains a lot of neat information regarding political activity online. Whether you're a Freeper
or prefer DU
, this site discusses a lot of the legal formalities regarding political activity online and who is and is not subject to campaign finance laws. via
posted by Doohickie
on Sep 12, 2006 -
Get Rich Slowly,
a personal finance web site (created by our jdroth
), has been educational to someone who spent most of his life until now pretending financial matters don't exist. His blog is updated frequently, and contains insightful tips on living frugally, eliminating debt, saving and investing. Between his site, and another very educational site entitled I Will Teach You To Be Rich
), I've greatly expanded my knowledge about managing my money effectively. Perhaps most importantly, they're both consistently interesting and easy reads. [more inside]
posted by knave
on Aug 1, 2006 -
has returned. Back in the go-go days when Internet stocks ruled the world, iTulip was one of a very few voices warning about the Nasdaq bubble and the likely fallout. (Prudent Bear
was another.) As bad as things got, the overall financial bubble never really popped, it just shifted into debt and real estate after furious slashing of interest rates and money-printing by the Fed. Financial manias are terrible; their unraveling has been compared with economic nuclear weapons. (cf: The Secret History of the South Sea Bubble
[amazon book link] and the Dutch Tulip Mania
.) The only good solution to a bubble is not to have one in the first place. [more inside]
posted by Malor
on Mar 15, 2006 -
allows users to sponser
small business enterprises in developing countries through flexible loans. By getting repaid
and reinvesting, it's a really cool way to give a sustainable gift that keeps on giving.
posted by rollbiz
on Feb 23, 2006 -
is a new way of tracking informal debts with your friends. Web 2.0 nonsense or a viable solution to those awkward 13-way restaurant bills? Not to be confused with Zopa
, another social money project...
posted by runkelfinker
on Jan 23, 2006 -
The Forbes Fictional 15
-- it is list season, after all--the usual suspects, and some new entries. Daddy Warbucks (Net Worth: $27.3 billion, attended SUNY Stony Brook) gets this: Iraqi conflict has been kind to Warbucks; recipient of multiple defense contracts; cat-food holdings also up.
posted by amberglow
on Dec 5, 2005 -
Carl Icahn's Time Warner efforts
find a powerful ally in "white-shoe"
investment bank Lazard
. Wall Street M&A advisors have been hesitant to support efforts by Icahn and his hedge fund brethren in their share-holder activist efforts for fear of alienating fee-paying corporate clients (investment banking, legal and registration fees on the Time Warner/AOL deal
were approximately $300 million). By hiring Lazard
, which is led by banking legend Bruce Wasserstein (1
), Icahn is surely raising the intensity of his campaign against Time Warner management. Icahn has been successful in previous shareholder activist campaigns, most notably against Blockbuster (1
), and talks a pretty mean game
. Wall Street will be watching this closely - hedge fund activism is becoming a very real fear for company management/directors: Circuit City/Highfields Capital
, Bally's Fitness/Pardus Capital & Liberation Investment Group
, Axciom/ValueAct Capital
, MSC Software/ValueAct Capital (reg. required)
, Beazer Homes/Tontine Capital (second story on page)
posted by mullacc
on Nov 30, 2005 -
Leonard Cohen is broke.
The legendary singer's manager allegedly helped herself to more than $5 million of Cohen's savings while he was busy training as a Buddhist monk. Cohen's manager also convinced him to sell his back catalogue and continuing royalties—profits from both sales were allegedly taken by the same manager.
At the age of 70, Cohen's retirement savings have been depleted to under $150,000 and he is being forced to return to full-time touring and recording.
posted by huskerdont
on Sep 5, 2005 -
An unexpected side effect of iTunes.
Remember Bowie Bonds
? Introduced in 1997, bonds tied to future profits of music artists (besides Bowie, James Brown and the Isley Brothers offered them) tanked with the advent of online filesharing. Thanks to iTunes, some on Wall Street are betting that the Bowie Bond is a concept with a future.
posted by me3dia
on Aug 23, 2005 -
- a "coherent, logical, useful and accessible financial education resource".
posted by daksya
on Jun 9, 2005 -
If you live in the South/Southeast U.S., as of today you are able to get your Free Annual Credit Report
via Equifax, Transunion & Experion. Chose one service every fourth month and get reports year-round.
posted by Pressed Rat
on Jun 1, 2005 -
--doing business according to Shari'a. ...Pious Muslims are not allowed to invest in industries that have ties to tobacco, alcohol, weapons, pornography or pork products. Since the law prohibits banks from charging or paying interest, Noriba and other Islamic Financial Institutions (ifis) instead make money by using a system based on the sharing of capital gains or losses.
But even with post-Sept. 11 suspicions that Islamic banks may fund terrorist organizations, demand for the services of ifis is on the rise from the towers of Bahrain to the streets of London. Indeed, they represent one of banking's hottest sectors. ...
Socially-conscious investing of a different sort?
posted by amberglow
on May 6, 2005 -
Who here hasn't been a bit short before payday?
Jacob Ayrton of Calgary took out a payday loan of $500. Two weeks later he owed Payroll Loan Canada $606.32
(a $95 "brokerage fee" and 59% interest for a whopping 15,000% per annum charge.) Yesterday, an Alberta judge certified a class-action suit against so-called payday lenders with Mr. Ayrton as lead complainant. "These companies really exploit people who are vulnerable," said
his lawyer. A fast-growing franchise opportunity for investors, payday loan operations are facing increased scrutiny in Canada
and the U.S. (NC
posted by docgonzo
on Apr 27, 2005 -
Your Check Won't Float
As of Thursday, October 28, "floating" checks will become a thing of the past. Be forewarned or stand by for major insufficient funds fees on your accounts. More info inside.
posted by Pressed Rat
on Oct 26, 2004 -
America's Black Budget - the Manipulation of Mortgage and Financial Markets
Investors benefit from understanding the federal budget, credit policies and covert intervention that drive markets -- often overriding fundamental economics. How has the US governmental apparatus become so powerful in the marketplace and what does it mean to the health of our economy? How unstable is the mortgage bubble and where are the opportunities for investors if the bubble bursts?
posted by willnot
on Jun 28, 2004 -
Is a Market Disaster Immement?
The Federal Reserve has confirmed [a] Stock Market Crash forecast by raising the Money Supply (M-3) by crisis proportions, up another 46.8 billion this past week. What awful calamity do they see? Something is up. This is unprecedented, unheard-of pre-catastrophe M-3 expansion. M-3 is up an amount that we've never seen before without a crisis
posted by willnot
on Jun 2, 2004 -
I'm not a fan of followup posts, but this is cool enough to mention. Remember the challenging question of how to turn $14 into $1,000
has taken that noodle-scratcher of a problem and turned it into his personal challenge, and he's taking everyone along for the ride at 14bucks.com
. He's got until April 15, 2005 to turn it over into a grand, which sounds like plenty of time, but that's a lot of profit to turn over (7000% return on investment). Who wants to take my $14 bet it doesn't happen?
posted by mathowie
on Apr 29, 2004 -
Argentina Didn't Fall on Its Own.
(Single-page, printer-friendly version here
.) I don't normally read long articles on economic subjects, but this one is riveting, because it links Argentina's collapse to larger issues of how the world of money works today.
"The time has come to do our mea culpa," Hans-Joerg Rudloff, chairman of the executive committee at Barclays Capital, said at a conference of bank and brokerage executives in London a few months ago. "Argentina obviously stands as much as Enron" in showing that "things have been done and said by our industry which were realized at the time to be wrong, to be self-serving."
posted by languagehat
on Aug 3, 2003 -
...It is like "a bizarre AA program in which you remove booze from the homes of people who are reducing the amount they drink and put it into the homes of people who are drinking more every day," Pettis said. "This is probably not the best way to reduce drunkenness."
Big Business As Usual.
"In announcing their record settlement with 10 Wall Street firms
accused of misleading investors with bogus recommendations, [the Securities and Exchange Commission] also released new e-mail records showing stock experts chortling about how they were making out like bandits at the expense of the average investor", and revealed troubling insights into the way Wall Street really works:
"Merrill Lynch initiated coverage of LFMN on September 28, 2000 with a 2-1 [10-20% appreciation forecast short term, 20% appreciation forecast long term], when LFMN traded at $22.69. At that time, Merrill Lynch was pursuing an investment banking relationship with LFMN.
After Merrill Lynch initiated research coverage, LFMN's price declined to the....$3-5 range in December. On December 4, 2000, Blodget e-mailed a fellow analyst,'LFMN at $4. I can't believe what a POS [piece of shit] that thing is. Shame on me/us for giving them any benefit of doubt.' Merrill Lynch's research report on LFMN dated December 21, 2000, [reiterates] a 2-1 rating..."
And the "record settlement" with these common swindlers in three piece business suits from our brave SEC? For Wall Street, Fines Are A Day's Pay.
posted by fold_and_mutilate
on May 7, 2003 -
My name is Rod and I can't handle Money. "You see, I never open my bank statements, ever. My only point of contact with my bank is through the ATM next door to the estate agents in Warminster. Even here, I never knowingly press that button which tells you what your balance is, and if I press it by mistake I screw shut my eyes."
This is me. Is it you? What's wrong
with us? Chrometophobes unite.
posted by grahamwell
on Apr 2, 2003 -
It's all about shareholder value.
Steve Jobs has received tremendous positive press for only accepting one dollar per year as payment for his CEO services at Apple. How does he do it, you ask? Well, he supplements his income by a) being a billionaire, and b) renting out his corporate jet to Apple, at a cost of over 1.2 million dollars, over the past two years. Which is an exceptionally generous rental fee considering that Apple itself paid $90 million for the jet, which it bought for Jobs in May of 2001. This data was disclosed along in the most recent quarterly report in which Apple announced layoffs of 260 employees, none of whom were given a jet.
posted by jonson
on Feb 14, 2003 -
Could he be right yet again? : Interview with Bob Prechter
(and another one
If he is, we're all in for a world of hurt.
In this three part interview, Elliott Wave International president Robert Prechter discusses his new book, “Conquer The Crash: How To Survive and Prosper in a Deflationary Depression.”
During the 1980s, Bob Prechter won numerous awards for market timing as well as the United States Trading Championship, culminating in Financial News Network (now CNBC) granting him the title, "Guru of the Decade." In 1990-1991, he was elected and served as president of the nation-al Market Technicians Association in its 21st year.
He has also published a seminal book on Elliott wave analysis titled, “Elliott Wave Principle – Key To Market Behavior,” three books on the major practitioners of wave analysis, and books on his own views in Prechter's Perspective and At the Crest of the Tidal Wave.
posted by muppetboy
on Feb 13, 2003 -