Tuesday, October 26, 2010

Paul Allen is bullish on biotechnology

Seattle's hometown billionaire and biotech entrepreneur Paul Allen is chipping $20 million into a new infusion of cash for Omeros, which also hauled in $5 million from the state's life sciences fund. The money will be used to finance Omeros' quest for new drugs that can hit some 100 potential GPCR targets--a field that backers expect will deliver new therapies for currently "undruggable" targets.

Read more: Billionaire Allen helps inject $25M into Seattle's Omeros - FierceBiotech

Saturday, October 16, 2010

World’s Richest Man (Carlos Slim): Get a Job!

Carlos Slim:

“The only way to fight poverty is with employment.”

“Trillions of dollars have been given to charity in the last 50 years, and they don’t solve anything.”

Wall Street Journal article

Thursday, October 7, 2010

Buffett backed British retailer not having a Fresh or Easy time in Foreclosureville

With financial backing years ago from billionaire Warren Buffett, Tesco PLC continues to mothball stores in the Valley of the Sun (Phoenix) and elsewhere.


Tuesday, October 5, 2010

Hey Trib: "Show us" your Bankrupt Culture

If there ever was an example of a classic business school case study showing how, as a billionaire tycoon acquiring a business for mostly sentimental value (Sam Zell), not to hire a CEO for the job (The Chicago Tribune) this is it. Enjoy the story from The New York Times about the life and times of Randy Michaels in Chicago as CEO of The Trib:

In January 2008, soon after the venerable Tribune Company was sold for $8.2 billion, Randy Michaels, a new top executive, ran into several other senior colleagues at the InterContinental Hotel next to the Tribune Tower in Chicago.

read>>>full article

Ex-billionaire, Donald Trump, thinking about running for president in 2012

(former billionaire) Donald Trump said today he's "seriously" considering running for the presidency in 2012.

"For the first time in my life, I'm actually thinking about it [running for president]," Trump told Fox News Channel. "I see what's going on with this country and it's never been worse. What's happening is a disgrace."

Billion dollar trader get billion dollar fine and gets locked up for 3 years

Ex-Societe Generale SA trader Jerome Kerviel was convicted on all counts today in history's biggest rogue trading scandal, sentenced to three years in jail and ordered to pay his former employer an incredible $6.7 billion in total damages.

Friday, October 1, 2010

RUMOR: Billionaire Mayor Michael Bloomberg to become Billionaire Treasury Secretary

Larry Kudlow on CNBC just insisted on a rumor heard several times today: New York Mayor Michael Bloomberg is going to be treasury secretary. Kudlow says he heard from "deep insiders" that the pick has been made and it's Bloomberg.