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  • Does Mark know? Winklevii claim they own 1 percent of all Bitcoins

    April 11, 2013 10:58 PM 124

    Whenever percentages and the Winklevoss Brothers come together, there is always a movie to be made. The twins say they're betting big on Bitcoins. As I understand it, Bitcoin is the currency we will all use to buy gruel and grits when the current financial world's gills turn green. It seems to be based on the idea of one person trusting another, which

  • California should tighten fracking regulations, report says

    April 11, 2013 9:30 PM 146

    California needs to strengthen regulation of hydraulic fracturing, according to a UC Berkeley report that identified a number of shortcomings in state oversight of the controversial practice. Known as fracking, the technique involves the high-pressure injection of chemical-laced fluids into the ground to crack rock formations and extract oil and gas. Although

  • NY Mayor's Race Revives Brawl Over MTA Vs. City Control Of NYC Transit Ops

    April 11, 2013 9:27 PM 146

    Mayoral candidate Christine Quinn took a page from the Bloomberg campaign playbook Thursday and said the city should take over the five-borough ops of the MTA system. The vast majority of the Metropolitan Transportation Authority’s riders take subway trains and buses in the five boroughs. But city residents “have little say in how that system is run,” Quinn

  • Eli Lilly cuts sales jobs as patents near expiration

    April 11, 2013 8:47 PM 138

    Updated: Thursday, 11 Apr 2013, 4:39 PM EDT Published : Thursday, 11 Apr 2013, 4:39 PM EDT INDIANAPOLIS (WISH) - As two Eli Lilly patents near expiring, Lilly USA announced layoffs on Thursday. The company wouldn’t disclose the number of employees being laid off, though company officials said the overall impact on the Indianapolis economy would be minimal

  • Backed 'Wink' Initiative, Quirky Contributors to Gain Access to Thousands of Patents

    April 11, 2013 8:38 PM 158

    Starting next month, Quirky contributors are going to be able to pick a lot more than each others' brains: When the Quirky Inspiration Platform launches in May, contributors will suddenly be able to access thousands of GE-owned patents and technologies that they can freely integrate into their designs. The spin is that "GE will open thousands of its most promising

  • Chevron CEO got 23%, shareholders 5% in 2012

    April 11, 2013 8:36 PM 130

    Chevron CEO John Watson's 2012 compensation rose nearly 23% to $22.2 million, the energy giant reported Thursday. Watson received $1.7 million in salary, a $7.1 million stock award, options valued at $9.8 mililon, a $3.5 million incentive award and $225,000 in other compensation, including perks, Chevron said in its annual proxy filing. Chevron said Watson

  • Seniors say, 'We can't afford Social Security cuts'

    April 11, 2013 8:33 PM 140

    That sentiment was echoed again and again in scores of e-mails sent to CNNMoney about President Obama's proposal to reduce cost of living adjustments for Social Security. In his budget released Wednesday, the president proposed basing the way the annual increases are calculated on "chained CPI," which grows more slowly than the current inflation measure

  • Bieber Backs a Debit Card for Teenagers, From Parents

    April 11, 2013 6:46 PM 149

    JUSTIN BIEBER earned $55 million in 2012, according to Forbes, but in new videos for the SpendSmart Payments Company, which offers a prepaid debit card for teenagers, the singer talks about his modest upbringing. “You know when I was a kid, we didn’t have a lot of money, so me and my family had to watch the money that we spent,” Mr. Bieber says in a video

  • Two charged in KPMG insider trading

    April 11, 2013 6:10 PM 166

    LOS ANGELES -- The Securities and Exchange Commission on Thursday charged a former partner at accounting firm KPMG and his friend for illegal insider trading on stocks including Herbalife. The two met at a country club years ago and became good friends who routinely went golfing together. London gave Shaw the information to help him get through a difficult

  • By D. Michael Lindsay, Apr 11, 2013 04:22 PM EDT The Washington Post

    April 11, 2013 4:24 PM 137

    J.C. Penney shows the perils of a star CEO Ullman’s situation today is eerily similar to our 2004 meeting, but now even more is at stake. He left J.C. Penney in decent condition when Ron Johnson took over in 2011, but there’s no guarantee that he can turn it back around after its sharp decline under Johnson’s tenure. By returning, Ullman threatens his own legacy