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POPSBuffett For Obama With the economy sure to be a major issue in the coming election, Obama may want to play up an endorsement from one of the world's sharpest businesspeople.
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POPSBillionaire Indicted On Drug Charges Billionaire and Broadcom co-founder Henry Nicholas was indicted today for stock-options backdating. Not a big surprise, since there had been a very public investigation for a while. What is surprising is another indictment unsealed today that alleges Nicholas was heavily involved with illegal drugs like ecstasy and cocaine. Nicholas allegedly called them "party favors" and used them to drug industry execs and Broadcom customers. One bizarre story from the indictment: it alleges Nicholas distributed his party favors during a private flight. The indictment says that so much pot smoke filled the air, the pilot was forced to put on his oxygen mask.
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POPSSoros: Oil Bubbling If high oil prices are just a bubble that is about to pop, some relief might actually be on the way.
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POPSYahoo's Scorched Earth Tactics Seems like Jerry Yang's Yahoo was considering some creative ways to fight off a Microsoft acquisition. E-mails suggest the company was considering giving employees financial incentive to quit if acquired by Microsoft. It's reminiscent of the old war tactic of salting the earth. Retreating armies dump salt on farmland so that their enemies won't be able to use them.
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POPSAmazon.com The Store? Amazon has a big advantage over brick-and-mortar retailers because most of its customers don't pay sales tax. That basically adds an 8% discount to all its goods and lures more customers. But Amazon is losing that advantage as states change their sales tax codes. Billionaire Bill Ackerman has a plan. Buy Borders.
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POPSIRS Says Billionaires Owes $144 Million Billionaire Philip Anschutz gave a bank some of his stock. The bank gave him money back. Anshutz says he didn't have to pay certain taxes on the deals because they weren't sales. They sure sound like they were though.
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POPSPickens: Watch Out Yahoo We already know Yahoo shareholders are angry the company nixed a takeover by Microsoft. Now billionaire T. Boone Pickens says those shareholders have solid grounds to sue the company.
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