FBI and SEC Probe into Insider Trading Investigation of Carl Icahn, Billy Walters & PGA’s Phil Mickelson
Investor, Bettor, and Golfer Investigated for Insider Trading, Oh My!!!
The NY Times is reporting that federal authorities are investigating a series of well-timed trades made by PGA golfer Phil Mickelson and the gambler William T. Walters, focusing on trading in two different stocks from 2011 and 2012. The Feds are looking into whether Mickelson and Walters may have traded illegally on private information provided by billionaire investor Carl Icahn about his investments in public corporations. The stock trades in question are with Clorox in 2011 and Dean Foods in 2012. As reported at the Business Insider Mickelson stated, “I have done absolutely nothing wrong. I have cooperated with the government in this investigation and will continue to do so.”
Federal authorities are examining a series of well-timed trades made by the golfer Phil Mickelson and the gambler William T. Walters, people briefed on the investigation said, focusing on trading in two different stocks. The authorities are also questioning what role, if any, the investor Carl C. Icahn may have had in sharing information about one of the stocks: the consumer products company Clorox.
Mr. Mickelson, a three-time winner of the Masters golf tournament and one of the country’s highest-earning athletes, placed his Clorox trade in 2011, the people briefed on the investigation said. Mr. Walters, an owner of golf courses who is often considered the most successful sports bettor in the country, made a similar trade about that time, the people added.
Mr. Icahn, a 78-year-old billionaire and one of the best-known investors in the world, was mounting a takeover bid for Clorox around the time that Mr. Mickelson and Mr. Walters placed their trades.
The F.B.I. and Securities and Exchange Commission, which are leading the inquiry along with federal prosecutors in Manhattan, are examining whether Mr. Icahn leaked details of his Clorox bid to Mr. Walters, the people briefed on the investigation said. One theory, the people said, is that Mr. Walters might have passed that information to Mr. Mickelson.
Daily Commentary – Friday, May 30, 2014 – Donald Sterling is Now Claiming the NBA Violated His Constitutional Rights
- Claiming they don’t have the right to force him to sell.
Update: Former Microsoft CEO Steve Ballmer wins bidding war for Cliipers with $2 billion offer.
GOOD GRIEF … Former Microsoft CEO Steve Ballmer Wins Bidding War for NBA’s LA Clippers with $2 Billion Offer (Update: Donald Sterling Vows to Sue)
REALLY … 2 BILLION DOLLARS!!!
Steve Ballmer, the former CEO of Microsoft, has won the bidding war for the Los Angeles Clippers at a reported offer of $2 billion. That is if you can call paying $2 billion for the Clippers a win. The 58 year old Ballmer is worth a reported $20 billion, well make that $18 now if the deal is approved by the NBA commissioner Donald Sterling and three-fourths of the 30 NBA owners. Ballmer has reaffirmed his promise o keep the team in Los Angeles and not move it to home in Seattle. The sale price is almost four times the highest previous NBA franchise sale price, the $550 million paid earlier this month for the Milwaukee Bucks.
Sorry, Steve Ballmer is not the winner … the real winner is Clippers co-owner Shelly Sterling.
Well folks, don’t ask for things they might just come true. The next round of complaints will be that it is unfair for banished from the NBA for making racist comments, Clippers owner Donald Sterling, make such an amazing profit on the sale of the Clippers. Sterling paid $12 million in 1981. OUCH, from $12 million to $2 billion, that is quite the investment. Look for cries of foul that Sterling made money for racist comments. But I don’t see any complaints from Obama about income inequality when it comes to Ballmer and the other richest sports owners.
Steve Ballmer and Dr. Evil … Separated at birth.
Former Microsoft chief executive Steve Ballmer has won a frenetic bidding war for ownership of the Los Angeles Clippers, with a $2-billion offer that would set a record price for an NBA team.
Ballmer bid higher than competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers.
he Geffen group offered $1.6 billion and the Ressler-Karsh group $1.2 billion. People familiar with both those offers said they were rejected.
Ballmer and Clippers co-owner Shelly Sterling concluded a deal late Thursday afternoon. But Bobby Samini, an attorney for Donald Sterling, said as he left the team co-owner’s home: “There’s been no sale. There can be no sale without Donald’s signature.”
The sale price would be almost four times the previous NBA franchise high: the $550 million paid earlier this month for the Milwaukee Bucks. It is the second highest price ever paid for a sports team in North America. The Dodgers sold in 2012 for $2.1 billion.
Los Angeles Clippers owner Donald Sterling does not have the authority to stop a $2 billion sale of his team because he has been determined to be mentally unfit to make decisions related to the family trust, a person familiar with the situation told USA TODAY Sports.
The Sterling Family Trust owns the team, with Donald and his wife Shelly each owning a 50% share. The trust spells out provisions and procedures related to the mental capacity of the trustees, and Donald Sterling did not meet the standard in a determination by experts, giving his wife sole decision-making power for the trust, the person said.
The NBA confirmed on Friday that the Los Angeles Clippers have been sold to former Microsoft (MSFT) CEO Steve Ballmer for $2 billion, the largest ever for an NBA franchise.
The NBA’s statement said:
The NBA, Shelly Sterling and the Sterling Family Trust today resolved their dispute over the ownership of the Los Angeles Clippers. Under the agreement, the Clippers will be sold to Steve Ballmer, pending approval by the NBA Board of Governors, and the NBA will withdraw its pending charge to terminate the Sterlings’ ownership of the team. Because of the binding agreement to sell the team, the NBA termination hearing that had been scheduled for June 3 in New York City has now been cancelled. Mrs. Sterling and the Trust also agreed not to sue the NBA and to indemnify the NBA against lawsuits from others, including from Donald Sterling.
UPDATE III: Donald Sterling Vows To Sue
The statement came as NPR’s Tom Goldman received word from Sterling’s attorney that his client would sue the NBA for $1 billion in damages for terminating his ownership of the the team.
Tom says: “I communicated with Donald Sterling’s attorney Max Blecher via email. He confirms there will be a lawsuit filed in federal court in Los Angeles.”
The lawsuit is “based on multiple counts, including antitrust violations, invasion of constitutional rights, breach of contract, breach of fiduciary duty,” Tom says.
“This is a lawsuit against the NBA and Commissioner Adam Silver, who of course banned Sterling for life, fined him $2.5 million and is in the process of trying to remove Donald Sterling from the ownership of the Clippers,” he says.
WOW, looks like rapper 50 Cent chose the right profession ... As Bob Eucker would say, “Just a bit outside”.
Check out the video below and watch what may be just the worst first pitch at a Major League Baseball game in history. DAMN!!! Talk about losing major street cred. Although I think he did it to make Barack Obama’s past lame first pitches look good. The NY Post quips, the Queens-born rapper, who threw out the first pitch before the Mets took on the Pirates at Citi Field on Tuesday night, would fit right into the Mets’ struggling bullpen. OUCH! In fact many Met fans probably thought it was one of their teams own pitchers warming up.
“It’s good he never had a choice between playing for the Mets or being a rapper.”
Just curious, do these celebs ever practice before they throw out a first pitch and make a fool of themselves?
HE GOT GAME …
Check out what this young Texas Ranger fan does when he gets a foul ball. Although it appears that he is doing the old hidden ball trick and is giving the girl behind him a different ball, truth be known it was the second foul ball that he received during the game. However, the funny part is that when getting this second foul ball, does hr give it to his bud next ti him? No way … he spots the cute blond girl in the second row and gives it to her. The girls reaction is priceless.
This kid is never going to have a problem in the future getting a date for prom.
Former New England Patriots TE Aaron Hernandez Indicted on Two Counts of First Degree Murder in 2012 Drive-By Killing of Two Men in Boston, MA
MORE TROUBLE FOR FORMER NFL STAR AARON HERNANDEZ …
Former New England Patriots TE Aaron Hernandez was indicted Thursday on two counts of first degree murder for the 2012 drive-by shootings of two men in Boston, Massachusetts. Hernandez was also indicted on three counts of armed assault with intent to murder and an additional count of assault and battery with a dangerous weapon. Hernandez is alleged to be the shooter in the July 16, 2012 drive-by murder of Daniel Abreu and Safiro Furtado. Aaron Hernandez is currently residing in the crowbar hotel awaiting his trial for first-degree murder charges in the shooting death of Odin Lloyd, whose body was discovered June 2013 in an industrial park near Hernandez’s mansion. Following the death of Lloyd and Hernandez’s involvement, he then became under suspicion of for involvement in the unsolved 2012 double murder.
From NFL star to now potential triple murderer … UNREAL.
Former NFL star Aaron Hernandez has been indicted in the July 2012 killings of two Boston men, allegations that come a year after what had been a cold case investigation into the late-night drive-by shooting was revived — seemingly by chance — as investigators zeroed in on the former New England Patriot’s alleged involvement in another killing.
A grand jury indicted Hernandez on two counts of first-degree murder, three counts of armed assault with intent to murder and an additional count of assault and battery with a dangerous weapon.
Now, prosecutors say the former NFL tight end was the shooter in the July 16, 2012, slayings of Daniel Abreu and Safiro Furtado, who were killed in a drive-by shooting after leaving a popular Boston nightclub.
“Mr. Abreu and Mr. Furtado were ambushed and executed as they drove home,” said Daniel Conley, the Suffolk County district attorney. The Boston Globe first reported the indictment Thursday.
The men, along with three others, were in a BMW at Herald and Shawmut streets when prosecutors say an SUV pulled up beside them and Hernandez opened fire with a Smith & Wesson .38 caliber pistol from the driver’s side. Surveillance video captured Hernandez’s SUV circling the block near the Cure Lounge on Tremont Street and passing the victims “at a slow rate of speed” before they got into their own car, according to court documents released earlier this year.
“Our investigation has not uncovered any evidence that these two groups were known to each other, but their chance encounter inside the club triggered a series of events that ended in the murders,” Conley told reporters at a news conference this morning. “For us, this case was never about Aaron Hernandez. This case was about two victims who were stalked, ambushed, and senselessly murdered on the streets of the city they called home … On the morning Daniel de Abreu and Safiro Furtado were killed, they were described in media reports as being tied to a Cape Verdean gang based in Dorchester. Nothing could be further from the truth. Neither of them were involved in gangs, guns, or violent crime, and that characterization was unfair to their memory and their families. We have nothing but sympathy for them and their ordeals.”
Hot Air Balloon Catches Fire at Mid-Atlantic Balloon Festival in Virginia … Pilot and Two Passengers Missing (Update: Two Bodies Recovered, One Still Missing)(Update: Third Body Found)
A pilot and two passengers are missing after fiery hot air balloon crash in Virginia at the Mid-Atlantic Balloon Festival Friday night at about 8 pm in Meadow Event Park in Doswell, VA. Authorities are saying that the balloon’s gondola caught fire after it hit a power line. According to witnesses, after the balloon erupted into flames, there were screams for help, then explosions. Search efforts were hampered by darkness and the heavily wooded area. Two members of the University of Richmond women’s basketball staff were aboard the balloon. One victim is being identified as Natalie Lewis, the director of basketball operations for the Richmond Spiders. The balloon captain was ID’s as Dan Kirk.
Due to the terrible incident, the remainder of the Mid-Atlantic Balloon Festival has been cancelled.
Two members of the University of Richmond women’s basketball staff were passengers on a hot air balloon that crashed in Virginia Friday night, CBS News has confirmed.
One victim, Natalie Lewis, was the director of basketball operations for the Richmond Spiders. Her parents arrived in Richmond Saturday from their hometown of Buffalo, New York, CBS News’ Mark Albert reports.
Friends of the balloon captain, Dan Kirk, called him a true ambassador to the sport of hot air ballooning.
The balloon’s basket caught fire after touching a power line near Doswell, Virginia, north of Richmond, the state capital.
More than 100 state troopers and deputies searched for the third occupant of a hot air balloon that crashed in flames at a Virginia balloon festival, killing the other two people on board, state police said Saturday.
Witnesses captured photographs of the balloon after it drifted into power lines, burst into flames Friday night and crashed into the countryside about 25 miles north of Richmond. Some reported seeing two people either jump or fall from the basket at a dizzying height.
The bodies were found about 1,500 yards apart in a heavily wooded area, Virginia State Police spokeswoman Corinne Geller said Saturday afternoon.
UPDATE II: Third body found after hot air balloon Crash.
Authorities have found the remains of the third occupant of the hot air balloon that burst into flames at a Virginia festival, police said Sunday.
Now investigators are trying to determine what made the balloon drift into power lines, catch fire and crash, killing the pilot and two passengers.
Kevin Durant’s Incredibly Amazing and Humble NBA MVP Acceptance Speech … Thank God for Changing My Life … And Said to his Mom, “You Sacrificed For Us. You’re the Real MVP.”
An amazing Mother’s Day gift from the NBA’s MVP, Kevin Durant.
There has been so much negative news coming out of the NBA these days; however, Kevin Durant of the Oklahoma Thunder MVP speech is all about what is good. Durant won the MVP award for the first time, but that is not the story. The struggle to get to the top is the real story. There are so many amazing stories of sacrifice and behind one of the game’s best players, is his mom. Durant thanked God for changing his life, humbly thanked his teammates and last but certainly not least tearfully thanked his mom. Durant called his mom “the real MVP”. THIS IS MUST WATCH VIDEO.
And last, my mom. I don’t think you know what you did,” he began, sniffling and wiping away tears. “You had my brother when you were 18 years old — three years later I came out. The odds were stacked against us; single parent with two boys by the time you were 21 years old. Everybody told us we weren’t supposed to be here.”
“You made us believe, you kept us off the street, you put clothes on our backs, food on the table,” he added. “You went to sleep hungry. You sacrificed for us. You’re the real MVP.”
LISTEN TO THE DANA PRETZER SHOW ON SCARED MONKEYS RADIO AT 9 PM ET
- Author Paul Martin discussing his new book Villains, Scoundrels, and Rouges
- Former DA Wendy Murphy discussing her new Article for the Patriot Ledger, PRO SPORTS, RACISM AND MONEY
LISTEN TONIGHT LIVE AT 9 PM ET
The Dana Pretzer Show – Tuesday, May 6, 2014 Download Podcast
- Gabe Feldman, director of the Sports Law Center at Tulane University, said forcing an owner to sell usually involves “extreme” circumstances
Daily Commentary – Friday, May 2, 2014 Download