They often won by running against Washington and pledging to govern as outsiders. But when the freshmen of the 112th Congress take their oaths of office in January, they’ll find that some of their senior colleagues have made the House and Senate quite the family business Think spouses, sisters, brothers and cousins, an octet of [...]
The New Yorker’s Jane Mayer recently wrote a profile of billionaires Charles and David Koch of Koch Industries called “Covert Operations,” in which she details how the brothers are “waging war against Obama.” The piece also raises concerns about their business practices. As Mayer writes, “The Kochs are longtime libertarians who believe in drastically lower [...]
The Texas billionaire Sam Wyly has a laugh that blends the cackle of a mad scientist with the giggle of a teenager — a high-pitched titter that makes him sound thoroughly delighted. Until, that is, talk turns to the recent securities fraud suit against him and his brother, Charles. At that point, Mr. Wyly’s laugh [...]
The billionaire Barclay brothers sold their 10 percent stake in Britain’s InterContinental Hotels for about 335 million pounds ($520 million) after the hotelier’s shares rose 88 percent in a year, Bloomberg News reported. InterContinental fell as much as 8.4 percent in London trading after Barclays Capital sold almost 30 million shares on behalf of Ellerman [...]
Toll Brothers, the luxury homebuilder, said Monday that it plans to launch an investment fund to buy up distressed real estate assets, including loan portfolios and land for development. In a move that could take the company outside its core competency in homebuilding operations, Toll is forming Gibraltar Capital and Asset Management, to be led [...]
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