IBM senior VP Robert Moffat (pictured), the head of IBM's Systems and
Technology Group - in other words the guy who runs all of its hardware as
well its microelectronics unit - and Intel Capital's director of strategic
investment Rajiv Goel, one of its VC people, were arrested Friday morning on
insider trading charges.
They were alleged tipsters.
The $20 million scam, involving AMD, Intel, IBM, Akamai, Clearwire and Google
stock as well as Polycom's and Hilton Hotels', is said to be the biggest ever
pulled off by a hedge fund and had the US Attorney, the FBI and the SEC doing
a televised press conference on CNBC this afternoon.
US Attorney Preet Bharara said it was the first time court-authorized
wiretaps were used to uncover insider trading.
Authorities also arrested billionaire hedge operator Raj Rajaratnam, the
founder of the big $3 billion Galleon Group and mana... (more)
Florida Real Estate on Ulitzer
Florida Real Estate on Ulitzer- I remember seeing this woman, Barbara
Corcoran, on TV walking inside a house with a fortune teller, spreading fumes
as the fortune teller whispered some sort of prayer so that the house would
sell real fast. What a crackpot scene that was. Anyway, Barbara Corcoran's
fortune teller and magic spelling gypsies have not helped Florida residents
sell their homes or pay their mortgages since the housing slump hit America.
I thought that scene was a candid camera joke on me; I looked around my
living room to see if there we... (more)
Sweden, Europe's undisputed leader in the Internet, is with Finland the world
leader in mobile telephony. It's estimated that 50% of all Swedes have a
mobile phone and are connected to the Internet.
However, Swedes have not been especially good at transforming Sweden's
world-class IT competence into new and profitable businesses. Until now. A
change is currently underway and the Internet boom, mirrored in the Swedish
stock market, has caused many traditional investors to start looking closely
into Internet - and especially wireless - technologies.
Swedish venture capital (VC) com... (more)
While delivering a talk on SOA I've asked the audience the following
question, “What do you think is the driving force for implementing any
technology or architecture in a decent size Enterprise?” The answers
were typical – better code re-usability, accessibility… But I
was looking for a different answer that has nothing to with technical merits
of any technology. Based on what I see in the real world enterprises, the
main reason of implementing SOA (or any other IT initiative) are career goal
of individuals working in this organization.
People want to b... (more)
CEOs in Technology on Ulitzer
Raj Rajaratnam, the billionaire ringleader of the Galleon insider-trading
mob, and Danielle Chiesi, the ex-beauty queen who allegedly charmed ex-IBM
SVP Robert Moffat and ex-AMD CEO Hector Ruiz into telling her valuable
company secrets, were indicted by a federal grand jury Tuesday on 17 counts
of securities fraud and conspiracy.
They are expected to be arraigned Monday, December 21, and plead not guilty.
A lawyer for Roomy Khan, the ex-Galleon, ex-Intel employee who's one of the
government's star informants, reportedly told Rajaratnam's lawyer he bett... (more)
Wealth Management on Ulitzer
On February 27, 2009 I wrote these words in an article entitled "Are Things
"6) There are only two things you can buy at unusual discounts these days: A
new car and stocks. These prices are beginning to attract takers. If things
were as dire as CNBC said, all other stuff would be cheaper".
"7) As the companies we own have reported earnings, most of them have beaten
expectations. In other words, the businesses continue to perform even though
the stock prices are not. What you own continues to become more valuable.
Over the next 5 years, the ... (more)