Tag Archives: million

Los Angeles art dealer gets jail for bilking clients out of $1 million

FILE PHOTO: Michael Ovitz, co-founder of Creative Artists Agency and former Walt Disney Company president arrives for the the annual Allen and Co. media conference Sun Valley, Idaho July 7, 2015. REUTERS/Mike Blake/File Photo A former Los Angeles art dealer who prosecutors say embezzled more than $ 1 million from clients including former Walt Disney Co President Michael Ovitz was sentenced on Monday to six months in jail. Perry Rubenstein, 63, was also ordered to pay $ 1.1 million in restitution to Ovitz and a second victim, Michael Salke, according ...

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Robots could wipe out another 6 million retail jobs

Is the mall dead? Robots have already cost millions of factory jobs across the nation. Next up could be jobs at your local stores. Between 6 million to 7.5 million existing jobs are at risk of being replaced over the course of the next 10 years by some form of automation, according to a new study this week from by financial services firm Cornerstone Capital Group. That represents at least 38% of the current retail work force, which consists of 16 million workers. Retail could actually lose a greater proportion ...

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A record 107 million Americans have car loans

5 stunning stats about credit cards Americans went on a massive shopping spree for cars and trucks in recent years. Many paid for their vehicles by taking out a loan. A record 107 million Americans have auto loan debt, according to data released this week by the Federal Reserve Bank of New York. That’s about 43% of the entire adult population in the US. It’s an eye popping number. Auto loans have been growing rapidly. In early 2012, only 80 million Americans had car loans. In fact, more Americans had ...

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Basquiat tops Warhol after painting sells for $111 million

A Japanese billionaire has bought a painting by Jean-Michel Basquiat for $ 110.5 million, the highest ever price paid at auction for a work by an American artist. It’s a spectacular increase from the last time the painting, “Untitled,” was sold — it fetched a mere $ 19,000 in 1984. For more than 30 years since then, the picture depicting a skull-like head has remained stashed away in a private collection. The Japanese buyer, e-commerce tycoon Yusaku Maezawa, said he plans to loan the to institutions and exhibitions around the ...

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Apple to invest $200 million in U.S. glass maker Corning

Apple unveils new “spaceship” headquarters Glass manufacturer Corning is the first to receive an investment from Apple’s new $ 1 billion U.S. manufacturing fund. Apple(AAPL, Tech30) on Friday said Corning(GLW) will receive $ 200 million from the fund. Last week, Apple CEO Tim Cook said the tech giant would put $ 1 billion into a fund aimed at bringing advanced manufacturing jobs to the United States. The investment will go toward Corning’s research and development, equipment needs and state-of-the-art glass processing. Corning makes Gorilla Glass displays for smartphones and tablets, ...

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The Fox News bill for settlement payments so far: $45 million

O’Reilly accuser: It’s about women’s rights, not revenge The costs of the Roger Ailes era at Fox News keep rising. Ailes resigned in the summer of 2016, but Fox’s parent company 21st Century Fox spent another $ 10 million on settlements in the first three months of 2017. A corporate filing on Wednesday said that the costs were “related to settlements of pending and potential litigations.” Current and former Fox News employees accused Ailes of sexual harassment and other improper behavior after ex-anchor Gretchen Carlson sued him last July. Ailes ...

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If London were Aleppo – Buckingham Palace destroyed, 4.3 million dead or displaced

The bullet-riddled, bombed-out buildings of Aleppo may bear little resemblance to London’s gleaming skyscrapers but the two cities once had much in common, something German artist Hans Hack has seized on to bring home the reality of war. Before Syria’s six-year civil war, Aleppo — like London — was its country’s biggest city, as well as a key commercial hub. But, unlike teeming London, half of Aleppo is now effectively a ghost town. To bring the suffering home to those in Europe, data visualizer Hack has used United Nations satellite ...

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Oprah made $110 million because Weight Watchers is hot again

Oprah Winfrey in 96 seconds Weight Watchers stock is surging — and so is the value of Oprah Winfrey’s considerable stake — after the company reported a boost in membership. Weight Watchers International(WTW) shares climbed 14% on Wednesday. And the stock has quadrupled since Winfrey bought a big stake and joined the board of directors in 2015. Winfrey holds about 10% of the shares. Her stake was worth $ 43 million when she bought it in 2015. It’s now worth $ 154 million. And she has the option to increase ...

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Nintendo Defends Killing NES Classic, Even With 2.3 Million Sold

Most companies, having unexpectedly stumbled into an extremely popular product, would gear up for production, hire more people, increase supply, and ride the revenue train for as long as they could. Nintendo is not most companies. According to Reggie Fils-Aimé, the company killed the NES Classic Edition after selling 2.3 million units, because it had a lot of other stuff to do. “We had originally planned for this to be a product for last holiday,” Fils-Aimé told Time. “We just didn’t anticipate how incredible the response would be. Once we ...

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Nintendo Defends Killing NES Classic, Even With 2.3 Million Sold

Most companies, having unexpectedly stumbled into an extremely popular product, would gear up for production, hire more people, increase supply, and ride the revenue train for as long as they could. Nintendo is not most companies. According to Reggie Fils-Aimé, the company killed the NES Classic Edition after selling 2.3 million units, because it had a lot of other stuff to do. “We had originally planned for this to be a product for last holiday,” Fils-Aimé told Time. “We just didn’t anticipate how incredible the response would be. Once we ...

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