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LA Times Archives - Page 958 of 994 -

Would Prop. 30 really drive millionaires out of California?

October 27, 2012 |

The idea that tax hikes drive the rich out of state persists, yet data show the number of millionaires in California is mainly a function of the overall economy.

A counterpart to the biblical adage that the poor will always be with us is the notion that the rich will always be one tax hike away from leaving us.



L.A. Times – Business

Man suing Facebook arrested, accused of scheme to defraud company

October 26, 2012 |

New York businessman Paul Ceglia’s arrest on suspicion of mail and wire fraud could bring to a close a contentious legal battle over the origins of Facebook.

Federal charges that New York businessman Paul Ceglia engaged in a multimillion-dollar scheme to defraud Facebook Inc. and its founder could bring to a close a long-running contentious legal battle over the origins of the social networking giant.



L.A. Times – Business

Citigroup is fined $2 million over Facebook IPO

October 26, 2012 |

Citigroup has paid a $ 2 million fine and fired a junior analyst after the employee leaked confidential information about Facebook’s initial public offering to a popular tech blog.



L.A. Times – Business

Carl Icahn’s $3 billion Oshkosh bid rejected as ‘low-ball price’

October 26, 2012 |

Specialty truck maker Oshkosh Corp. rejected a takeover bid by billionaire activist investor Carl Icahn, calling the $ 32.50-a-share offer “unsolicited, inadequate, highly conditional and opportunistic.”



L.A. Times – Business

CEOs urge Congress to reduce federal deficit

October 26, 2012 |

Chief executives from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending.



L.A. Times – Business

Buffett’s firm wins auction for ResCap’s loans

October 26, 2012 |

Warren Buffett’s company won the auction for Residential Capital’s loan portfolio with a $ 1.5 billion bid this week.



L.A. Times – Business

Electric-car maker Tesla bucks traditional dealership network

October 26, 2012 |

Tesla opens its own stores to sell its flagship Model S directly to consumers. Some auto dealers and regional associations have sued the automaker.

When electric-car company Tesla Motors Inc. started selling its flagship Model S luxury hatchback earlier this year, it eschewed the traditional dealership network to open its own stores.



L.A. Times – Business

Prescription refill pressure bothers CVS pharmacists too

October 25, 2012 |

“Everyone knows that if we don’t hit our quotas, people can lose their jobs,” one pharmacist says. Despite what CVS documents show, a spokesman says the chain does not use quotas to determine compensation.

Chris Cullum normally gets his prescriptions filled at a CVS Caremark store in San Diego. But, while traveling, he placed orders at a CVS branch in Arizona this year and at a branch in Illinois last year.



L.A. Times – Business

Mortgage rates edge higher; 30-year at 3.41%, Freddie Mac says

October 25, 2012 |

Mortgage rates edged higher early this week from their recent record lows, with the average interest on a 30-year fixed-rate loan rising from 3.37% last week to 3.41%, Freddie Mac’s latest survey showed.



L.A. Times – Business