Archive for the ‘Financial News’ Category


Who is Lynn Tilton?

Sunday, July 18th, 2010

Lynn Tilton, a graduate of  B.A. in American Studies from Yale University and an MBA in Finance from Columbia University, serves as CEO and sole primary of Patriarch Partners, LLC and its associated entities (“Patriarch”).

Ms.Tilton’s career bridges 27 years and covers private equity,  financial engineering, loan sales and trading, investment funds, banking, fund raising and senior management. Presently, she serves as the Chairman and CEO of MD Helicopters, Inc., a leading manufacturing business of commercial and armed forces aircraft.

Ms. Tilton established Patriarch Partners to develop advanced financial solutions and to handle and monetize the disquieted portfolios of financial organizations.

Time Warner Cable NYC

Friday, December 4th, 2009

Time Warner Cable, located in New York with other offices in Cambridge, Massachusetts; Charlotte, North Carolina; and Herndon, Virginia, is an american national cable television company that operates in 27 states and has 31 operating divisions. It is considered as the second largest in the industry, known for it’s tiered pricing of it’s service. The New Tang Dynasty Television was offered to subscribers in November 2009, on channel 589. It is now being available for free to an approximately 1.16 million digital subscriber households. But the deal is about to expire this year, which includes such things as The Weather Channel, F/X, Food Network and HGTV.  On it’s website it was stated “We’re  just one company, but there are millions of you. Together, we just might be able to make a difference in what America pays for it’s favourite entertainment.” Time Warner Cable appeals.

For its first 20 years, Time Warner Cable was controlled by Time Warner. Unfortunately, it had been spun out to shareholders in March 2009. Time Warner Cable in NYC, are appealing for it’s subscribers help. It has released a new ad campaign in which it asks it’s customers for their support in the company while it negotiates with providers of network programming, so as to prevent raises in rates that the company will have to pay in carrier rights.

The New Tang Dynasty Television was offered to subscribers in November 2009, on channel 589. It is now being available for free to an approximately 1.16 million digital subscriber households. But the deal is about to expire this year, which includes such things as The Weather Channel, F/X, Food Network and HGTV.  On it’s website it was stated “We’re  just one company, but there are millions of you. Together, we just might be able to make a difference in what America pays for it’s favourite entertainment.” Time Warner Cable appeals.

New York City’s, Chinese residents reacted with enthusiasm to the news, making a record number of calls to it’s customer service hot line.

Cyber Monday Online Sales Buzzing

Tuesday, December 1st, 2009

Best deals today, in modern time, is happening in computers, television and technology.

A new high definition video disc format now came out known as the Blu-ray where video’s played are of much higher quality than traditional DVDs. This year if you are on the look out for a Blu-ray player this is a great year to purchase one, especially with the prices and discounts available. Over at Bestbuy have some amazing deals on their Blu-ray players and also their range of Home Theatre Systems. They have some of the best brands in the market and are slashing the prices on them.

“If you’re a retailer and you see that there’s a limited demand, you are offering promotions earlier and earlier to beat your competitors to the punch,” says Jeffrey Grau, senior analyst at eMarketer. “If they are trying to condition people to spend early, then later on in the season it can bite back because they were successful early on and now there is less money to spend.”

Sales are up to 16% over Cyber Monday online sales last year, and when you look through the online deals set on the retailer’s websites there is no wonder. This year is seeing a great season for buying big name prodcuts, and also for technology and electronics, being normally they are of the most expensive products. This year you may be shocked at how low some prices are for products such as Televisions and gaming products.

Playstations are up for grabs, with a Playstation 3 slim 120GB Console at $299.97 (at one online store,) and a Playstation 3 Console 40GB at a tiny $219.99 (at two online stores,) there is also the Playstation 3, 40GB Console with Spiderman 3 Blu-Ray disc at $219.99 (at one online store.)

The overall prognosis for this year’s Cyber Monday is very positive. Online shopping extravaganza could post sales north of $900 million. Sustaining that spending through the holidays, However, remains a significant question mark.

Stefanie Spielman-Breast-Cancer

Friday, November 20th, 2009

Stefanie Spielman, a mother of four died because of breast-cancer. The former football star Chris Spielman. His wife died at there upper Arlington home at 6:15pm. His wife then was facing a chemotherapy and a mastectomy.

Stefanie Spielman and Chris Spielman first met at a teen dance in Massillon. Stefanie was then taking up major in journalism while Chris was in All-American linebacker at the Buckeyes.

Chris Spielman established the Stefanie Spielman Breast-Cancer Research. Having her fund raised to $6.5 million for breast-cancer research,education and patient assistant at Ohio State University’s Arthur G. James Cancer Hospital. People in Central Ohio remembered her courage and her extraordinary dedication to raise money for Stefanie Spielman fund for breast-cancer research.

Many of the people in Central Ohio, they participated the annual komen race, got mammograms, and contributed money for the beast-cancer research.

Madoffs Worth $823 Million!

Friday, March 13th, 2009

As the legal drama concerning Bernard Madoff, also known as the man who pulled the biggest investment scandal continues, litigators and investigators are busy pursuing the paper trail in the hopes of finding where all the money went.

According to a document Madoff’s lawyer filed last Friday, the Madoffs are worth more than $823 million in assets.  This estimate includes $22 million in properties located in Manhattan, Montauk, Florida and in France.  The couple also owns a $7 million yacht and a $2.2 million boat named “Bull”.

Other lists of assets include $12 million half share in a plane, $65,000 in silverware and a $39,000 piano.

However, the bulk of Madoff’s asset is the $700 million he put in his investment firm.  Madoff said during his court appearance last week that his businesses were “legitimate, profitable and successful in all respects.”

The document also listed the couple’s expenses like $100,000 per month on legal fees, $140,000 in security, almost $3,000 for a housekeeper , $700 for electricity, $250 for doctor’s visits and $70 for cable.

Madoff’s lawyers are arguing for his release.  They claim that incarceration would limit their time with the disgraced investor and that they would have a hard time preparing documents should their time with him become limited.  They also pointed out that Madoff did not flee during his December arrest stating that Madoff “was always cognizant of the fact that he would die in prison”, they said during an interview at the Metropolitan Correctional Center in Manhattan.

“The reality of a life in prison term is not a recent revelation to Mr. Madoff, but an inevitability that he has been aware of since his arrest, if not earlier,” the lawyers said.

During last Thursday’s court appearance Madoff implicated himself and nobody else as the mastermind of the Ponzi Scheme.  Madoff took all the blame creating a wall between himself and his family.

The FBI are now investigating the paper trail of Madoff’s businesses.  They say that given the size of the operation, the number of victims and the amount of paper work which goes back to two decades, it would take at least 6 months to a year before any other people could be investigated or arrested along with Madoff.

Investigators are now looking at Madoff’s wife Ruth who made a sizeable withdrawal of $15.5 million days before the scam broke and another $10 million the day before.

Included in the investigation are Madoff’s brother Pete who reportedly helped Madoff in building his empire and Madoff’s sons Andrew, 42 and Mark, 45 who worked for their father.  All have denied through their lawyers any wrong doing.  Besides family members also under the FBI’s watch is Frank DiPascali who served as Madoff’s Chief Financial Officer of Madoff’s money management business.

Madoff pled guilty during last Thursday’s court hearing.  If convicted he could face up to 150 years in prison for 11 charges including fraud, perjury and  money laundering.