List of Potential Victims in $50 Billion Ponzi Scheme Grows
Investors who put their fortunes in the hands of arrested New York money manager Bernard Madoff are waiting to hear how much of their stake is left. The roster of potential victims has grown exponentially longer in the past few days. Among those who have acknowledged potential losses so far: Magnate Mort Zuckerman, the foundation of Holocaust survivor Elie Weisel, Sen. Frank Lautenberg and a charity of movie director Steven Spielberg. Also, former Philadelphia Eagles owner Norman Braman, New York Mets owner Fred Wilpon and J. Ezra Merkin, the chairman of GMAC Financial Services, the Palm Beach Country Club, charities, hedge funds and more.
http://www.usatoday.com/money/markets/2008-12-13-wall-street-arrest_N.htm
Also: Losses in Madoff Case Spread
Also: The 17th Floor, Where Wealth Went to Vanish
Worst Investments of 2008: Crocs, Yellow Pages, Banks and More
The year will go down as one of the worst ever for investors, but which investments were worst? If you were an investor in R.H. Donnelley which publishes Yellow Pages phone directories you have seen a 99% drop in your investment. And if you were an investor in Crocs shoes you saw your investments shrink by 95% this year. Others that had a very rough year included the investment banks, automakers, newspaper companies, Office Depot, Sprint Nextel and the list goes on and on.
http://images.businessweek.com/ss/08/12/1215_worst_investment/1.htm
7 Tips for Shopping Closeout Sales
KB Toys is the latest retail victim that announced it is shutting all of its remaining stores. Over the past year, Circuit City, Tweeter, Linens 'N Things, Sharper Image and CompUSA, among many others have held going out of business sales. Here's a guide to navigating the closeout sales and protecting your purchases.
http://www.smartmoney.com/Spending/Deals/Tips-for-Shopping-Closeout-Sales/
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