Highlights
A collection of news and information related to Business Enterprises published by Tribune Company sources.
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Vulture investors poised to feed on distressed companies, but hesitate as prices keep falling
Associated Press WriterNEW YORK (AP) _ When financial panic sweeps Bedford Falls in the 1946 movie "It's a Wonderful Life," the villain, Mr. Potter, moves to snap up the Bailey Bros. Building and Loan, offering a fire-sale price of 50 cents on the dollar. "I may lose a...Tags: Lehman Brothers Holdings Incorporated, Financial and Business Services, Bedford (Bronx, New York), Government, Mortgages
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Morgan Stanley's future questioned by investors, shares plunge 34 percent
AP Business WriterNEW YORK (AP) _ Morgan Stanley Inc. shares plunged more than 22 percent Friday as investors questioned the investment bank's future even with a major investment from Japan's Mitsubishi UFJ Financial Group. Friday marked the fifth straight day that shares...Tags: Lehman Brothers Holdings Incorporated, Bankruptcy, Investments, Ratings, Morgan Stanley Dean Witter & Company
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Paralegal pleads guilty to taking $1.7M from firm
A former paralegal at a South Windsor law firm has pleaded guilty to stealing $1.7 million from her employer to pay her gambling debts. Patricia Baddeley-Meehan of Ellington admitted in her plea Thursday that she took the money between 2003 and 2007...Tags: Legal Services
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Chinese tighten dairy rules amid growing reports of teens with kidney stones from tainted milk
Associated Press WriterBEIJING (AP) _ China's State Council tightened quality control regulations for the dairy industry Friday, as authorities in Macau and Hong Kong reported several children had kidney stones blamed on Chinese tainted milk. Contaminated milk powder, laced...Tags: Trials, Livestock Farming, Beverage Industry, Prosecution, Product Recalls
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Louis G. Close Jr.
Louis G. Close Jr., a prominent trial attorney and former managing partner of the law firm of Whiteford, Taylor & Preston, died Sunday of complications from Alzheimer's disease at his home. The longtime resident of Homeland was 73. Mr. Close was born...Tags: National Government, Diseases, Rialto, Laws, Roland Park
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Aldermen target pay of investment bank executives
Chicago Tribune reporterEveryone is taking a shot at greedy bankers these days, including Chicago aldermen. Aldermen Edward Burke (14th) and Leslie Hairston (5th) have proposed an ordinance that seeks to curb executive pay at financial firms that do business with the city and...Tags: Lehman Brothers Holdings Incorporated, Investments, Bonds, State Budgets, CEO Pay
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Ex-Paralegal At South Windsor Firm Pleads Guilty To Thefts
A former paralegal at a South Windsor law firm faces a prison term at sentencing Jan. 6 in federal court in Bridgeport after pleading guilty this week to stealing $1.7 million from the firm to cover her gambling debts. Patricia Baddeley-Meehan, 43, of...Tags: Fraud, Theft, Legal Service, Credit and Debt, Crimes
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Tutoring companies in Broward and Palm Beach counties will be graded based on student success in FCAT
South Florida Sun-SentinelFor the first time next year, state officials will grade private companies charged with improving students' grades. Starting March 1, the state Department of Education will issue grades to tutoring companies that provide extra help to low-income students...Tags: Florida Comprehensive Assessment Test, Palm Beach County School District, Academic Progress, Charlie Crist, Florida
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IBM 3Q profit a bright spot but tech stocks choppy as more gloom likely ahead
AP Technology WriterSAN FRANCISCO (AP) _ Even after IBM Corp. surprised Wall Street with a healthy profit in the third quarter and a reaffirmation of its earnings outlook for the rest of the year, the broader technology sector dived again Thursday. There's just not enough of...Tags: Stock Activities, Technology, Forrester Research Incorporated, Morningstar Incorporated, Sales
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Uplands contract raises questions
Baltimore's Board of Estimates awarded a $4 million contract for the Uplands redevelopment yesterday to a firm whose bid did not meet city women- and minority-owned business guidelines, passing over two firms that followed the city's policies and...Tags: Justice System, Contracts, Sheila Dixon, Lawyers
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In deep-sea oil finds off Brazilian coast, a potential for deliverance and danger
Associated Press WriterRIO DE JANEIRO, Brazil — Four miles under the ocean's surface off Brazil's lush coast lie billions of barrels of recently discovered light crude — a treasure that could transform the country into an oil superpower. President Luiz Inacio...Tags: Defense, Energy Resources, Diplomacy, International Relations, Government
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Banks borrow record amount from Fed's emergency program
AP Economics WriterWASHINGTON (AP) _ Banks borrowed in record amounts from the Federal Reserve's emergency lending facility over the past week, while investment banks drew loans at a brisk — though slightly lower — pace, fresh proof of the credit problems...Tags: Lehman Brothers Holdings Incorporated, Federal Reserve, Investments, Bankruptcy, Emergency Planning
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