Thursday, May 12, 2011

Of Wiretaps, Raj and the Courts

Expose Corrupt Courts: But What Did Corrupt Lawyers Know....: "U.S. Wins Convictions in Inside Trading Case The New York Law Journal by Mark Hamblett - May 11, 2011 Devastating wiretap evidence and ..."

Wednesday, May 11, 2011

Raj Rajaratnam goes down and goes down hard!

Hedge fund billionaire Raj Rajaratnam was convicted on all 14 counts of fraud and conspiracy on Wednesday (May 11, 2011) in the biggest insider trading case and decision ever!

No one on plant earth is surprised. No one.

Monday, May 9, 2011

Ralph Lauren: Engine of Style

He is 71 years old. He is a college-drop-out and former store salesman with Brooks Brothers.

In 2010, Forbes estimates his wealth at $4.6 billion dollars which would make him the 173rd richest person in the world.

He is the world famous fashion designer and business executive, best-known for his Polo Ralph Lauren clothing brand. He is Ralph Lauren.

Ralph Lauren is applauded and lionized in the Wall Street Journal's (weekend edition) "OFF DUTY" section with the article entitled "Engine of Style."

It is rather interesting that Mr. Lauren is never asked how he happened to "acquire" the Polo brand name. You'd probably have to ask someone who was playing Polo at the time for the most interesting and true story.

Enjoy your auto collection, Mr. Lauren.

WSJ article

Thursday, May 5, 2011

How Corrupt is the Berkshire-Hathaway Audit Committee?

As Berkshire-Hathaway continues to whitewash Warren Buffett, a report on David Sokol's conduct by its "audit committee" has opened itself to more questions and confusion.

The audit committee, which consists of three “independent” directors, concluded Sokol had violated Berkshire’s insider-trading policies and code of ethics, an allegation he denies.

The report itself, however, was anything but independent.

Rather than hire its own separate legal counsel, as the company’s charter authorizes it to do, the audit committee relied on Berkshire’s longtime law firm, Munger, Tolles & Olson, to help conduct its probe and prepare the report. And the committee allowed Ronald Olson, a Munger Tolles partner and Berkshire director who isn’t independent of the company’s management, to act as its public spokesman, all of which underscores weaknesses in Berkshire’s own corporate governance.

Bloomberg article

Glencore's IPO will mine 6 new billionaires

Glencore, the global commodities producer and marketer based in Switzerland, has released its long anticipated prospectus for its upcoming IPO (initial public offering) this year.

As a result of the IPO, which will value the company at roughly $60 billion, six new billionaires including CEO Ivan Glasenberg, aged 54, will be created.


Forbes article

Wednesday, May 4, 2011

Meet the billionaire's parents

Once upon a time, Richard Branson was a high-school dropout with some big ideas. Today, his Virgin Group controls more than 300 companies. His parents, Eve and Ted, reflect on the less-than-traditional child-rearing methods that brought up a billionaire.


Tuesday, May 3, 2011

A Billionaire Goes All-In on Gold

Gold is setting records .... But few individuals stand to benefit as much as low-profile billionaire Thomas Kaplan. A New York-born commodities magnate who earned a doctorate in British colonial history at Oxford, Mr. Kaplan oversees an empire devoted largely to gold.