Advertisement
  1. Archive

BEYOND TAMPA BAY

IN A NEWLY RELEASED TRANSCRIPT of a 2005 telephone call, convicted investment fraud Bernard Madoff says "you don't have to be too brilliant" to fool the SEC. A transcript of the call was made public by Massachusetts Secretary of State William Galvin, whose office reached an $8 million settlement this week with a Madoff feeder fund. During the call, Madoff coaches a witness who was about to be interviewed about his investment firm.

* * *

GENERAL MOTORS' new-car buyers will be able to return vehicles, no questions asked, for a full refund 31 to 60 days from the date of purchase from Monday through Nov. 30. The vehicles must not have more than 4,000 miles and drivers must be current on payments. It's part of a major marketing campaign that will break next week called "May the Best Car Win," which pits GM's four remaining brands - Chevrolet, Buick, Cadillac and GMC - against competitors.

* * *

THE COMMERCE DEPARTMENT said Thursday that the U.S. trade deficit rose 16.3 percent to $32 billion in July, the highest level in six months, as a record rise in imports outpaced a third straight increase in foreign demand for American products. Both gains provided more evidence that the worst recession since the 1930s was losing its grip on the global economy.

* * *

MOTOROLA unveiled its first phone using Google's Android system Thursday, banking on it to power features to attract consumers looking to use their phones to connect with friends and colleagues. The Cliq comes with a touch screen and a standard "QWERTY" keyboard that slides out from its side. It will be available from T-Mobile in time for the holiday season. Pricing information has not yet been released.

* * *

"This kind of situation will happen again ... and employers are undoubtedly worried about that."

Lewis Maltby, National Workrights Institute president, after an Indiana court ruled a pizza shop must pay for a 340-pound employee's weight-loss surgery to ensure the success of another operation for a back injury he suffered at work

* * *

6.1M

Number continuing to receive jobless benefits, lowest level since early April, as new jobless claims fell to 550,000

* * *

THE BOTTOM LINE: GM to sell majority stake of Opel to Canadian parts supplier Magna International and Russian bank Sberbank ... Morgan Stanley's John Mack to step down as CEO at year's end ... Tavern on the Green, landmark restaurant in New York City's Central Park, files for Chapter 11

YOU MIGHT ALSO LIKE

Advertisement
Advertisement