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Archive for March, 2007
Monday, March 19, 2007 Pension fund outs its bad buys By Ian Mylchreest The California Public Employees Retirement System has named the top 11 (that’s right, 11) companies that it considers underperformers, reports the Los Angeles Times. To make it onto this list, companies have both substandard earnings and poor corporate governance.
They are "the poster children for bad performance and bad corporate governance," said CalPERS President Rob Feckner [...]
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Friday, March 16, 2007 Words to live by By David McKee I thought I’d leave you with a little food for thought over the weekend, especially any legislators in Carson City who might be on the bubble over whether or not to do the right thing by your tip-earning constituents …
"There is a tradition in Nevada whereby a dealer, waitress, or any other tip-earner is rewarded [...]
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Friday, March 16, 2007 Wal-Mart calls it quits on banking By Ian Mylchreest The Arkansas-based retail giant has decided to pull the plug on its plans to run an industrial loan corporation to process its credit card and other financial transactions. The company withdrew its application to the FDIC for a license Friday, reports the New York Times.
“Since the approval process is likely to take years rather than [...]
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Thursday, March 15, 2007 Let Iraqis decide own fate By Len Butcher Legislation introduced by the Democrats requiring American troop withdrawal from Iraq within 120 days and a goal of March 31, 2008 for all U.S. troops to be out of that country was defeated in the Senate by a vote of 50-48 today. Democrats did, however, get the House to go along with their proposal to [...]
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Thursday, March 15, 2007 Case bets for a Thursday By David McKee A fool and his money: That would be Australian high roller Harry Kakavas and $30 million, respectively. Let me get this straight … Kakavas had himself excluded from Australian casinos (but apparently continued to wager in Las Vegas), allowed himself to be comped up the wazoo by Crown Casino, blew through all the money Crown [...]
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Thursday, March 15, 2007 Two honest men By David McKee All too frequently, this space is devoted to chronicling the activities of scoundrels and unscrupulous people in the casino industry. However, there are people out there who make you proud to be covering this beat. Herewith, two examples.
Assemblyman Bob Beers (not to be confused with the more famous Nevada state senator of the same name) [...]
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Tuesday, March 13, 2007 Copyright battle matches two titans By Ian Mylchreest These two gunslingers have been facing each other down the dusty deserted street for some time but Viacom suddenly unholstered its weapon Tuesday by suing YouTube for $1 billion for copyright infringement, reports the New York Times. What had been a tough negotiation has headed to the federal court.
The lawsuit accuses Google of “massive copyright infringement.” [...]
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Tuesday, March 13, 2007 This just in! By Steve Sebelius Many people predicted that former Clark County Sheriff Bill Young wouldn’t be jobless for long, and that he’d probably hook up with a casino company as director of security. Station Casinos, perhaps? Well, it has come true, people! It was just announced that Young would take a job as vice president of corporate security for [...]
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Monday, March 12, 2007 New Century hits the skids By Ian Mylchreest Subprime lender New Century could be facing the beginning of the end, reports the Associated Press. The banks have all pulled the plug on the company’s financing and bankruptcy cannot be far off. Only last Thursday, the company had to give up new loans because the cupboard was bare.
”The company and its subsidiaries do not have sufficient [...]
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Monday, March 12, 2007 United gobbles up Sierra Health By Ian Mylchreest Another Monday morning and it’s another buyout deal. UnitedHealth is paying $2.4 billion for Sierra Health, reports Reuters. The $43.50-per-share deal represents a 21 percent premium over Sierra’s closing price of $35.90 on Friday.
Minneapolis-based United is the biggest health player by market capitalization and so a lot of local employers offering Sierra products like Healthplan [...]
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