Stealing from a symbol of freedom

From the AP:
A nonprofit organization that's helped repopulate Tennessee's bald eagle population may have lost $500,000 through a Gatlinburg stock trader accused of running a Ponzi scheme.
Apr 3, 2009 8:29 AM

Nashville native sued over Madoff role

Massachusetts' securities regulator is taking on Walter Noel and his Fairfield Greenwich asset management business. Noel, a graduate of MBA and Vanderbilt, led an investment team that, over the course of two decades, placed more than $7 billion of client money with Bernie Madoff.
Fairfield kept a database of standard responses for investors who questioned how safe the Madoff funds were, according to the complaint. In one response, Fairfield told concerned investors that Citco, the main clearinghouse for hedge fund transactions, had not been charged with verifying Madoff’s assets, but reassured them that there was adequate due diligence on the Madoff funds...
SEE ALSO: Noel's assets are now on ice.
Apr 1, 2009 12:20 PM

FOX Business sues SEC over Stanford

From TVB:
Fox Business Network is suing the U.S. Securities and Exchange Commission for failing to respond to an expedited request for information under the Freedom of Information Act, the news franchise alleged. The initial request, filed on Feb.26, 2009, sought records of potential securities violations by Stanford Financials Group, its affiliates and its chairman, R. Allen Stanford. The request included the commission’s response to complaints and tips, and any resulting actions. The SEC charged Stanford last month with running an $8 billion Ponzi scheme.
Mar 24, 2009 8:58 AM

Hey kids, saving is fun and cool!

Disney is partnering with T. Rowe Price to build a new exhibit at Walt Disney World's Epcot resort.
The Great Piggy Bank Adventure will offer lessons on four key financial themes: setting goals, saving and spending smartly, staying ahead of inflation, and diversifying your investments.
So Johnny, now you can find out how those billions in federal bailout dollars will make our grocery bill jump in about three years...
Mar 19, 2009 11:00 AM

Pinnacle adds music industry vet

Mar 17, 2009 3:55 PM

Prepaid tuition plans on shaky ground

Tennessee is among the states whose investment portfolios are now worth less than the present value of future college costs already paid for by parents who thought they had a sure thing.
Mark Kantrowitz, publisher of the Web site, said many state plans are being hit from two sides. Their investments are dropping in value and public universities are raising tuition by higher-than-normal amounts because the economic downturn is shrinking state funding for higher education.
Mar 16, 2009 8:14 AM

A nice byproduct of Gaylord's truce with investors

Deep in a Securities and Exchange Commission filing, the company says its deal with TRT Holdings and GAMCO Investors also resolves a potentially distracting legal conflict related to the poison pill it adopted last summer.
The Company also reached an agreement in principle to settle the pending purported derivative and class action challenging the initial adoption of the Original Rights Agreement. The Company and NECA-IBEW Pension Fund, the plaintiffs in the action, together with their counsel Coughlin Stoia Geller Rudman and Robins LLP, have agreed that the changes to the Company’s Board of Directors and amendments to the Original Rights Agreement reflected in the Amended Rights Agreement will form the basis for that settlement.
Mar 11, 2009 9:35 PM

Madoff charged with 11 counts of fraud, expected to plead guilty

From MarketWatch:
Bernard Madoff confirmed on Tuesday he is set to plead guilty to running a massive Wall Street fraud and prosecutors announced they want him sentenced to 150 years prison. After months of speculation, Madoff confirmed in court through his lawyer Ira Sorkin that he will plead guilty at a hearing on Thursday. "I think that is a fair expectation," Sorkin said. Asked if Madoff, 70, would plead guilty to all 11 counts of fraud, Sorkin told the judge: "Yes your honor." Prosecutors unveiled the charges at the hearing and said that they carried a maximum prison sentence of 150 years. "There is no plea agreement" for a reduced sentence for Madoff, the prosecutor told the judge.
SEE ALSO: Sentencing guidelines Explanation of charges
Mar 10, 2009 5:06 PM

Park pleads guilty

According to U.S. Attorney, fallen investment advisor will serve 'serious time'
Feb 27, 2009 3:19 PM

The French (and the Kentuckians) are coming

Cracker Barrel Old Country Store has two new 5 percent owners. French financial powerhouse (and isn't that a relative term these days) Axa built a 5.4 percent stake in the locally based restaurant chain (Ticker: CBRL) during the fourth quarter, while Louisville-based River Road Asset Management increased its holdings by a fifth, lifting it over the 5 percent threshold.
Feb 22, 2009 11:47 PM