What makes Steve’s methodology different from everyone else’s is that he always believed the most important decisions you make are not the things you do – but the things that you decide not to do. He’s a minimalist.
via cultofmac.com
Disney’s purchase of Club Penguin was valued at $700 million, with half of the total paid up front and half coming in two payments based on unspecified growth thresholds. Disney disclosed in a Securities and Exchange Commission filing last May that Club Penguin had missed the first target. On Wednesday, the company confirmed that the Web site did not meet the second one.
via nytimes.com
My kids used to live on Club Penquin...
The bailout exposed deep hypocrisy all around. Those who had preached fiscal restraint when it came to small welfare programs for the poor now clamored for the world's largest welfare program. Those who had argued for free market's virtue of "transparency" ended up creating financial systems so opaque that banks could not make sense of their own balance sheets. And then the government, too, was induced to engage in decreasingly transparent forms of bailout to cover up its largesse to the banks. Those who had argued for "accountability" and "responsibility" now sought debt forgiveness for the financial sector.
"When the real-estate bubble burst in 2006, derivatives and securities tied to subprime mortgages began to lose value. As it turned out, the fact that the derivatives had spread the risks throughout the system only worsened things. Dubious debt was all over the place, and nobody knew exactly where."
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Chubb Corporation Sees Strong Insider Buying:
"The Chubb Corporation (NYSE: CB) may not sound attractive, but many insiders are a believer in the stock. The firm repurchased some 5.9 million shares during the third quarter and said it would buyback up to 20 million shares over the next year while paying a dividend of 33 cents per share. This is a clear demonstration of financial strength and confidence in the company."