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Search results for "investments" ...

  • The Dirtiest Bank In the World

    Forbes Magazine investigates corruption inside one of the world's premier banks, Credit Lyonnais. This investigation details how the bank lost at least $20 billion in reckless and corrupt investments.
  • The Campus Anti-Sweatshop Movement

    The American Prospect reports the "the anti-sweatshop movement is the largest wave of student activism to hit campuses since students rallied to free Nelson Mandela by calling for a halt to university investments in South Africa more than a decade ago...The target of this renewed activism is the $2.5 billion collegiate licensing industry--led by major companies like Nike, Gear, Champion, and Fruit of the Loom - which pays colleges and university sizable royalties in exchange for the right to use the campus logo on caps, sweatshirts, jackets, and other items. Students are demanding that the workers who make these goods be paid a living wage, no matter where in the world industry operates. Students are also calling for an end to discrimination against women workers, public disclosure of the names and addresses of all factories involved in production, and independent monitoring in order to verify compliance."
  • Blowing Smoke

    Marshall Melton used the classic Ponzi scam to steal money from investors. He used new investors' principal investments to pay the dividends of older investors. Eventually, somebody had to lose everything.
  • ECI collapse leaves scars

    As president of Indianapolis' community development nonprofit Eastside Community Investments, Dennis West was considered a visionary who helped reviatalize the city's east side. Days after he left the firm, and internal investigation found that ECI had wasted tens of thousands of dollars, diverted funding for unintended purposes and undermined the organization's ability to administer programs.
  • LBO Madness

    During 1996 and 1997, over $70 billion was poured into so-called leveraged buyout and private equity investments. These popular investments advertised returns of 50 to 100 percent. Forbes Magazine investigates this unregulated business, its exorbitant fees and reveals that the core calculation "internal rate of return" was a bogus statistic.
  • Not Dead Yet: Eastern Air Lines 1929-1991

    The Miami Daily Business Review article claims the bankrupt carrier Eastern Airlines, which stopped flying in 1991, is acting like an investment banker, sinking millions into high-risk start-ups while insdiders benefit. For example, one of the investments, Pan Am World Airways failed. Some creditors who settled claims on the "cheap" are crying foul. In other words, instead of money going to pension plans, employment and profit opportunities are only happening for well-connected former Eastern executives.
  • The Girard Legacy

    The Inquirer examines how the Board of City Trusts in Philadelphia has spent millions of dollars bequeathed to the city for charitable purposes on questionable investments.
  • (Untitled)

    Business Week reveals that organized crime has made shocking inroads into the small-cap stock market. The mob has established a network of stock promoters, securities dealers, and "boiler rooms" that sell stocks nationwide through hard-sell cold-calling. Wall street has become so lucrative for the Mob that it is allegedly a major source of income for high-level members of organized crime. (Dec. 16, 1996)
  • In His name

    A non-profit organization, National Capital Christian Broadcasting Inc., solicited donations and borrowed more than $14 million from listeners of its religious television stations to build a Christian broadcast network. The non-profit bought and sold several television stations but never repaid any of the more than $9 million it had borrowed over the last 12 years from about 500 listener/investors. Most of these were senior citizens and had invested money they had previously set aside for their retirement. Although about 30 civil lawsuits had been filed in local courts against NCCB within the last year, PWJ found that most of the 500 investors did not know there was a problem with their investments until this investigation.
  • (Untitled)

    In the 1990's, influence is available to anyone who can spare, say a hundred grand to underwrite a few political campaigns. Mother Jones identifies the nation's largest political contributors. Most of them see their donations as sound investments; in return, they ask for--and recieve--generous tax breaks or legislation favorable to their businesses.