- Secret Atlanta Bond Deal Led IRS to Middleman Rubin Financing in the Dark At the end of a March 6, 2000, conference call with the financial adviser David Rubin, city of Atlanta officials disqualified the winning bid for a $453.3 million investment-management contract.
- Smiley Doing Financing in Dark Focus of IRS Probe of New Mexico Tax Abuses Vincent “Smiley” Gallegos, who ran a state housing agency out of an office next to a used-car lot in Albuquerque, New Mexico, should have known better when he borrowed $27.7 million, the Internal Revenue Service said.
- West Bank Peace Signaling 7% Growth as Israel Increases Roadblock Removals Nablus Soap & Detergents Co. says its revenue has grown as much as 20 percent since Israel removed three major roadblocks in the area, making it easier for merchants from other parts of the West Bank to visit.
- Diageo Chief Walsh Sees a `Slow' Recovery as U.S., Europe Sales Trail Asia Diageo Plc Chief Executive Officer Paul Walsh said the world’s largest liquor maker will see a “long and slow” recovery from recession in its biggest markets, and plans to compensate by expanding in emerging economies.
- Private Equity IPOs Slump as Goldman Sachs, JPMorgan Can't Sell AEI Shares Investors suffering the worst returns on initial public offerings in at least 14 years are shunning companies laden with debt, forcing bankers to pull one sale and cut the price of others.
- K1's Kiener Said to Seek $23 Million for Six-Bedroom Florida Beach Home Helmut Kiener, the K1 Group hedge- fund founder under arrest in Germany on suspicion of fraud, is seeking to sell his oceanfront home in Delray Beach, Florida, for $23 million to repay investors, people briefed on the matter said.
- Ticketmaster Client AEG Said to Explore Switch in Fallout From Music Deal Anschutz Entertainment Group, owner of Staples Center in Los Angeles and London’s O2 arena, is exploring ticket partners to replace Ticketmaster Entertainment Inc., which is merging with competing promoter Live Nation Inc.
- Wilbur Ross Sees `Huge' Commercial Property Crash Ahead for U.S. Assets Billionaire investor Wilbur L. Ross Jr., said today the U.S. is in the beginning of a “huge crash in commercial real estate.”
- Fed Summons CEOs of Biggest Banks to Meet With Regulators on Pay Practices The chief executive officers of 28 of the largest U.S. banks have been summoned to meet with supervisors at Federal Reserve banks to discuss new rules on compensation, said a person familiar with the matter.
- New York Eclipses London as Best Financial Center in Global Bloomberg Poll New York has withstood the worst economic crisis in seven decades and remains the leading global financial center, followed by Singapore, which topped London as investors’ preferred place for doing business, according to Bloomberg Global Poll.
Bloomberg Daily News
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