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May 30, 2014

Gerald Celente - Trends In The News - "Avoiding Your Own Me.

Published on May 30, 2014
"Gerald explains what & what not to do when you're encountering a threatening person!"

BIV | Today's Business News - May 30, 2014: Sony Pictures Imageworks moving head offices from California to Vancouver

Film and Entertainment

Sony Pictures Imageworks moving head offices from California to Vancouver

Sony Pictures Imageworks is leaving the Golden State and setting up a new headquarters in Vancouver that will house as many as ... READ MORE

Real Estate and Development

Historic Hotel Vancouver up for sale

The historic Hotel Vancouver is putting up a for sale sign after Quebec’s public pension fund, Caisse de dépôt et placement du Québec, announced it was ... READ MORE

Mining and Energy

Former deputy minister named new CEO for BC Hydro

Gordon Campbell’s former deputy minister, Jessica McDonald, has been named the new CEO of ... READ MORE

Politics and Policy

B.C. names new auditor general to eight-year term

B.C. MLAs have looked east to Manitoba to find a permanent replacement for the office of... READ MORE

More News...

Canada's high-cost oil and gas needs a competitive game plan: report

Competitor looks to pick up business from B.C.'s new recycling system

Many land users cause more environmental damage, forestry watchdog warns

B.C. First Nations urge federal government to implement Cohen recommendations

This Week's Issue

Emily Carr partnership bridges business and design

In anticipation of the opening of a new campus in 2017, Emily Carr University of Art + Design has been committed to making sure its students are ... READ MORE

DealBook P.M. Edition - May 30, 2014 - Top Story - Weekend Reading: Finding the Best Way to Spend $2 Billion

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FRIDAY, MAY 30, 2014
Weekend Reading: Finding the Best Way to Spend $2 Billion How should billionaires spend their money? While the short answer is "any way they want," the debate over inequality often focuses on the financial habits of the 1 percent - whether it be conspicuous consumption or charity.

This week we'll examine the reaction to the spending habits of two former Microsoft chief executives.

While Steve Ballmer made headlines by agreeing to buy an N.B.A. team, Bill Gates was in the news for an ebb in his philanthropy.

Mr. Baller is said to have agreed to buy the Los Angeles Clippers for $2 billion. Other bidders for the team included an entertainment mogul, a software tycoon, principals in an investment firm and the head of a private equity firm. Earlier this year, two hedge fund billionaires purchased the Milwaukee Bucks for $550 million.

While buying a pro sports team can be a wise investment, the price is often inflated other considerations. "In strictly financial terms, it is hard to justify spending $2 billion for the Clippers," The New York Times reported.

James Delaney, a New York Times reader in New Jersey, wrote:

"The ego trip that Ballmer (and others) is on is sickening. The money that he is lavishing, unnecessarily I might add, on the NBA could provide so much more for underserved poor kids in Los Angeles or elsewhere in academics (great idea), extracurriculars like music or science (good idea) or youth sports (ok idea)."

In the most popular DealBook article this week, Randall Smith reported that the co-founder of Microsoft has slowed his own giving to his charitable foundation. A spokesman for Mr. Gates noted the challenges of giving away billions of dollars where it can be most effective. Mr. Gates has promised to donate 95 percent of his wealth to the foundation.

Many readers offered suggestions for donations and a few criticized Mr. Gates. A reader from California named PQuincy wrote:

"In a world in which governments are systematically underfunded - partly because of the successful tax evasion of the very wealthy, partly by our bizarre collective compulsion to waste vast amounts of money on weapons - a foundation like the Gates shouldn't simply fund 'seeds': it's great to plant seeds, but they need to be watered and weeded and supported through the year, then be replanted, rewatered, re-weeded, ad infinitum."

One response to this search for socially acceptable spending habits may be found in a DealBook report on philanthropy workshops found at top universities, including Harvard, Stanford, Princeton and Yale. On Thursday, William Alden examined a philanthropy class at Northwestern, endowed with a grant from a Texas hedge fund manager, that asks students to investigate nonprofit organizations and give away $50,000.

The program's backer, Geoffrey P. Raynor, visited Stanford's course last week.

"When one student pressed Mr. Raynor to reveal information about his hedge fund's investments, he remarked that the student was "trying to find out whether the ends justify the means," and declined to provide the information. When the student continued to challenge him, insisting that a "moral high ground" does exist, Mr. Raynor became silent for around 10 seconds."
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A look back on our reporting of the past week's highs and lows in finance.
On Friday, Valeant offered about $53 billion for Allergan, which makes Botox.
Valeant Raises Bid for Allergan Again Valeant Pharmaceuticals announced a sweetened bid for Allergan on Friday, only two days after increasing its offer for the maker of Botox. The drug maker is now offering $72 a share in cash.
Deal Professor: Fine Legal Point Poses Challenge to Appraisal Rights The question of whether a shareholder can prove it did not vote in favor of a takeover before asserting its appraisal rights could present a significant hurdle to hedge funds that have adopted such rights as a business strategy.
Rajat Gupta, a former Goldman Sachs Group director, was sentenced on insider trading charges in 2012.
Rajat Gupta Loses Bid to Avoid Prison During AppealThe former Goldman Sachs director, convicted on insider trading charges, sought to remain free on bail while he appeals his case to the Supreme Court.
BNP Paribas Shares Fall on Fine Fears Shares of France's largest bank end down 2.4 percent over concerns that potential huge penalties exacted by authorities in the United States could undermine the bank's capital strength.
Mediobanca Bolsters Roster in London With Ex-Barclays BankerFrancesco Canzonieri, a former Barclays and Goldman Sachs banker, will serve as head of Mediobanca's financial institutions teams for Europe, the Middle East and Africa.
Li Ka-shing has a net worth of about $35 billion, according to Forbes.
Envestra Directors Endorse Li Ka-shing Takeover BidThe Hong Kong billionaire offered $2.2 billion for the Australian natural gas distributor, topping an offer from APA Group.
Global investors looking for real estate bargains are piling into Spain, where a housing bubble has burst.
Global Investors Looking for Real Estate Bargains Flock to Spain Private equity firms and banks are descending on Spain, teaming up and competing for huge loan portfolios left over from 2008's market collapse.
Hillshire's brands include Hillshire Farm, Jimmy Dean, State Fair and Ball Park.
Wall St. Braces for Food Fights as Tyson Tops Pilgrim's Pride's Bid for Hillshire The packaged meat producer Hillshire Brands finds itself in the middle of a bidding war: Tyson Foods is offering $50 a share, while two days ago Pilgrim's Pride offered $45 a share.
Joseph P. Clayton, the chief of Dish Network, which said it would start letting customers pay in Bitcoin later this year.
Dish Network Says It Will Accept Bitcoin The virtual currency moved further into the commercial mainstream as the pay-television operator said it would be the largest company so far to accept Bitcoin for payment.
Penelope L. Peterson, right, a dean at Northwestern, where she teaches a course on philanthropy.
To Get an A in Philanthropy Class, Give Away $50,000Some colleges are offering a real-world experience of philanthropy by requiring students to investigate nonprofit organizations and give them a portion of grant money.
William Ackman of Pershing Square is well known for his $1 billion bet against the nutritional supplements firm Herbalife.
Ackman Said to Plan Public Hedge Fund in LondonWilliam A. Ackman of Pershing Square Capital Management plans to raise money for a closed-end fund that could list on the London Stock Exchange.
Under new accounting rules, cellphone companies may be able to report revenue earlier.
New Standards for Companies' Revenue Accounting Will Begin in 2017 The new rules will be significantly changed in 2017, with one change specifying how and when revenue can be recognized in different industries.
J. Michael Pearson, chief of Valeant Pharmaceuticals, explained why the company raised its takeover bid for Allergan.
Threatening a Proxy Battle, Valeant Raises Its Offer on the Botox Maker Allergan Raising the possibility of a hostile takeover, the drug maker said it would increase the amount of cash it would pay Allergan to $58.30 a share.
In a court filing, Mathew Martoma's family worried about the impact a long sentence would have on his wife, Rosemary.
Former Trader at SAC Capital Seeks a Lenient Sentence for Insider Trading In a lengthy court submission, Mathew Martoma and his lawyers said the former trader should not get more jail time than the 11 years in prison that Raj Rajaratanam was sentenced to following his conviction.
In Search of Star Power, Fender Enlists Members of U2 The company plans on Thursday to name Bono and the Edge from U2 to its board, both brought in by Fender's majority owner, TPG Growth.
Robert K. Steel in 2008.
Steel, Ex-Deputy Mayor, to Become Perella Weinberg C.E.O. Months after concluding his second stint in government service, Robert K. Steel will return to Wall Street by becoming the chief executive of Perella Weinberg Partners, the boutique investment bank.
Jeffrey R. Immelt, right, chief of General Electric, leaves the Élysée Palace with G.E. executives John Flannery and Clara Gaymard.
A Thaw in France in G.E. Bid for Alstom The French government offered qualified praise for the $13.5 billion bid after President François Hollande held a meeting with Jeffrey R. Immelt, General Electric's chairman and chief executive.
Hillshire's brands include Hillshire Farm, Jimmy Dean, State Fair and Ball Park.
Pilgrim's Pride Makes a $6.4 Billion Proposal to Buy Hillshire Brands The bid by Pilgrim's Pride and its majority owner, the Brazilian meatpacking titan JBS, sets up a potential battle over Hillshire.
Deal Professor: As Information Flows, S.E.C. Faces Difficulty Bottling It Up The Securities and Exchange Commission is caught trying to control too much information and monitoring information it can't even see or hear.
Euronext will be sold in an initial public offering. Also, a group of institutional investors will buy a 33 percent stake in Euronext.
IntercontinentalExchange Set to Spin Off EuronextEuronext, which operates stock exchanges across Europe, plans to list its shares initially in Paris, Amsterdam and Brussels.
Daniel Miller, left, and Benjamin Miller founded Fundrise, which allows individuals to invest as little as $100 in hotels, apartment buildings and other development projects.
Fundrise, a Crowdfunding Website, Raises $31 MillionThe website allows individuals to directly invest with as little as $100 in commercial real estate deals.
William H. Gross, Pimco's founder, and Paul A. McCulley, in a newly created role at the asset management firm, share their views of the global market and economy.
Pimco Rehires a Former Top Executive The asset management firm brought back Paul A. McCulley to help reassure skeptical investors and bolster its intellectual credentials.
Nelson Obus has been fighting insider trading charges for more than a decade.
12 Years Later, a Fund Manager Gets to Give His SideNelson Obus, who is at the center of one of the S.E.C.'s longest-running insider trading cases, has been waiting to defend himself.
Pfizer's final offer valued AstraZeneca at nearly 70 billion pounds. AstraZeneca demanded an offer of more than £74 billion.
Pfizer Abandons Bid for AstraZeneca Pfizer said it "does not intend to make an offer for AstraZeneca" in the wake of AstraZeneca's rejection of a $119 billion bid.
The N.Y.U. trustee Khaldoon Al Mubarak's firm helped build the Abu Dhabi campus.
DealBook Column: N.Y.U. Crisis in Abu Dhabi Stretches to Wall Street The general contractor that helped oversee the construction of the Abu Dhabi campus is run by a trustee of N.Y.U.'s board.
Warren Buffett, left, and Bill Gates playing table tennis after Berkshire Hathaway's shareholders meeting in May.
As His Foundation Has Grown, Gates Has Slowed His Donations While the coffers of the Bill & Melinda Gates Foundation have swollen, the charity is challenged by how to give away money where it can be most effective.
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