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Tag: Michael Mukasey
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Ellison in court over America’s Cup
The battle for the America’s Cup is being fought not on the high seas but in New York State Supreme…
Oracle CEO Larry Ellison, whose team lost the race this year, has accused winner Ernesto Bertarelli of manipulating the rules governing the next cup.
The court case, filed by the Golden Gate Yacht Club, charges that Bertarelli’s team has accepted a challenge from a team with no standing, and has refused to disclose design specifications for boats sailing in the race. Bertarelli’s group, Societe Nautique de Geneve, has turned the competition into a “Defender’s Cup,” the suit charges.
Justice Herman Kahn has scheduled a hearing for Oct. 22.
Ellison is known not only for his love of sailing, but for his fierce competitiveness. He owns the world’s second-largest private yacht, the 454-foot Rising Sun, which was designed to be longer than Microsoft billionaire Paul Allen’s yacht, Octopus.
However, as Robert Frank has noted in the Wall Street Journal Wealth Report, Ellison is building a new boat. The Rising Sun, it turns out, is too big to park at most of the world’s marinas.
On the web
New York Supreme Court sets October hearing date on America’s Cup lawsuit – International Herald Tribune
Billionaire Boat Battle – Forbes
Ellison’s New Yacht – Wall Street Journal -
A Change of Course for Indymac
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New School Touched by Hsu Scandal
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Murdoch Gets Taste of His Own Medicine
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Judith Miller Joins Think Tank
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Plum Tv Courts the Elite
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Thompson Announces Candidacy
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Auditor doubts NovaStar’s health
It’s one thing when stock market analysts knock your company’s prospects. Even worse when your auditor does the same.
Subprime lender NovaStar Financial cancelled plans to raise $101 million Tuesday saying its auditor, Deloitte & Touche LLP , wanted to include a statement in the company’s financial disclosures about the “uncertainty of NovaStar’s ability to continue as a going concern.”
Kansas City-based NovaStar also said it was cutting another 275 jobs, dropping the employee count to 600, down from more than 2,000 at the end of 2006.
“We are pulling back to focus on NovaStar’s core strengths and preserve liquidity,” NovaStar CEO Scott Hartman said in a statement.
Scott Valentin, an analyst at Friedman, Billings Ramsey & Co., wrote that “an eventual liquidation of the company is highly probable.”
On the web -
Google Signs Deal With Wire Services
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Meyerson leaves Accredited
Accredited Home Lenders, the troubled mortgage company with two former S&L regulators on its board, lost a key director this week.
Click here for help putting maps on your site.Military Contractor Accused of Bribes
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Zuckerberg Fights Lawsuit Over Facebook Idea
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At the Robin Hood Foundation the rich take from the rich
Gupta picks home-grown board members
While controversial tech entrepreneur Vinod Gupta widely cultivates political alliances around the country, he stays close to home when he picks board members for his Omaha-based company, infoUSA.
Click here for help putting maps on your site.Rubbing Elbows at the Yellowstone Club
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Whole Foods, but not the whole story
So, now we know how at least one corporate CEO got his kicks. For years, he posted on financial bulletin boards, under an alias, sometimes criticizing the competition.
“I posted on Yahoo! under a pseudonym because I had fun doing it,” Whole Foods CEO John Mackey acknowledged on his company’s Web site last night. “I never intended any of those postings to be identified with me.”
Mackey used the pseudonym “Rahodeb,” a variation on his wife’s name, Deborah, from 1999 until last summer The New York Times reported.
The FTC, which is trying to block Whole Foods’ acquisition of another organic grocer, Wild Oats, disclosed the pseudonym in a footnote in a court document. Using his alias, Mackey had posted about Wild Oats.
Money Men at the Media Summit
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Burkle Still Chasing a Newspaper Dream
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Environmentalists and Military Leaders Unlikely Bedfellows
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