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☆ Why we care so much about the Dow, the stock market’s dumbest index
▼ + stars: | 2024-05-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —The Dow Jones Industrial Average is, at best, an imperfect barometer of stock market activity among a narrow band of very large US companies. It’s clunky, and too limited in scope for any Wall Street pros to pay serious attention to it. “Mention ‘the Dow’ and, to most people, that means the stock market,” said Art Hogan, chief market strategist at B. Riley Financial, in a note to CNN. It’s just an index that tracks the stock market activity of 30 large US companies, from Amazon to McDonald’s to the Walt Disney Company. Market capitalization measures the total value of a company on the stock market.

Persons: Dow, ”, Hogan, It’s, “ Dow Jones ”, “, Nick Colas, you’re, ” Colas, Daniel Alpert, wasn’t, Goldman Sachs, Colas, I’ve, ” Alpert Organizations: New, New York CNN, Dow Jones, Dow, Riley Financial, CNN, Walt Disney Company, Westwood Capital, Standard Oil, US Steel, Microsoft, Apple Locations: New York, Amazon, Silicon

☆ See inside Kykuit, a 40-room mansion in New York that once belonged to the richest man in the world
▼ + stars: | 2024-05-13 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Kykuit (pronounced "kai-kit"), a 40-room Classical Revival-style villa in Sleepy Hollow, New York, was his idyllic seasonal oasis about 30 miles north of New York City. Today, visitors can tour the home and its lush gardens overlooking the Hudson River through Historic Hudson Valley.

Persons: —, John D, Kykuit, Rockefeller, Nelson A Organizations: Service, Library of Congress, Harvard Business School, Business, New, National Trust for Historic Preservation, Valley Institute, Historic Hudson Valley . Locations: United States, Sleepy Hollow , New York, New York City ., New York, Hudson, Historic Hudson Valley

☆ Walter Isaacson: The law says you can't use market dominance to then dominate an adjacent field
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalter Isaacson: The law says you can't use market dominance to then dominate an adjacent fieldWalter Isaacson, Perella Weinberg advisory partner and ‘Elon Musk’ author, joins 'Squawk Box' to discuss the EU's investigation into Big Tech, the comparison to Standard Oil, impact on markets, and more.

Persons: Walter Isaacson, Perella Weinberg, ‘ Elon Musk Organizations: Big Tech

Political Cartoons View All 253 Images"Very soon Oxfam predicts that we will have a trillionaire within a decade. With Brazil hosting this year's Group of 20 summit of leading industrial and developing nations, Lawson said it was a “good time for Oxfam to raise awareness” about inequalities. Brazilian President Luiz Inacio Lula da Silva has put issues that concern the developing world at the heart of the G20 agenda. To calculate the top five richest billionaires, Oxfam used figures from Forbes as of November 2023. For the bottom 60% of the global population, Oxfam used figures from the UBS Global Wealth Report 2023 and from the Credit Suisse Global Wealth Databook 2019.

Persons: — Tesla, Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, Warren Buffett, ”, Amitabh Behar, John D, Musk, Lawson, Luiz Inacio Lula da Silva, Forbes, ___ Pylas Organizations: Oxfam, Amazon, Oracle, Rockefeller of Standard Oil, Forbes, Brazil, UBS Global, Credit Suisse Global Wealth Locations: DAVOS, Switzerland, Swiss, Davos, Saudi Arabia, Ukraine, London

Here is a list of attempts by regulators to split up big companies:Standard Oil (1911)- Regulators alleged John Rockefeller's Standard Oil held the monopoly in the oil business by using aggressive pricing to eliminate competition. Standard Oil was broken up into 34 companies. Aluminum Company of America (Alcoa) (1945)- The Justice Department charged Alcoa (AA.N) with illegally monopolizing the aluminum market and demanded the company be dissolved. Paramount Pictures (1948) - The U.S. Supreme Court ruled in a landmark antitrust case, also known as "Paramount case" or the "Hollywood antitrust case," that film studios could not legally own their own theaters, hitting the vertical integration of companies. AT&T (1984) - In 1974, the U.S. government filed an antitrust lawsuit against AT&T (T.N) because it had a monopoly on telephone lines.

Persons: Andrew Kelly, Big, John Rockefeller's, District Judge, Jaspreet Singh, Zaheer Kachwala, Sriraj Kalluvila, Josie Kao Organizations: Federal Trade Commission, Washington , D.C, REUTERS, Amazon.com, Standard Oil, Big Tech, Google, Facebook, Standard, Oil, ExxonMobil, Chevron, Aluminum Company of America, Alcoa, Justice Department, Reynolds, Paramount Pictures, U.S, Supreme, Paramount, IBM, AT, Microsoft, District, Meta, FTC, Thomson Locations: Washington ,, U.S, Bengaluru

☆ US Steel, once a symbol of America’s economic might, is now for sale in the bargain bin
▼ + stars: | 2023-08-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

The Pittsburgh-based company formed in 1901 as a merger of the nation’s leading steel companies — including Carnegie Steel Corp. — and was engineered by financier J.P. Morgan. But, in recent years, US Steel’s fallen far below other American steel companies in steel output and stock market value. (Last year, US Steel shipped only 11.2 million tons of steel from its US operations and had just under 15,000 US employees.) That compares to 14.49 million metric tons from US Steel, including its operations in Europe, which rank 27th in the world for 2022, according to the World Steel Association. Bradford said all along the way, US Steel and other US integrated steelmaking rivals with storied names such as Bethlehem Steel, Inland Steel and LTV Steel underestimated the competitive challenge that they faced from overseas and mini-mills at home.

Persons: J.P, Morgan, Andrew Carnegie, eyeing, ”, Charles Bradford, “ It’s, ” Bradford, Nucor, Bradford, Walt, Joe Biden, Biden, what’s, he’s, Sen, J.D, Vance Organizations: New, New York CNN, US Steel Corp, US Steel, Steel, titans, Carnegie Steel Corp, United Nations, Homestead, US Steel's Carnegie, Illinois Steel Corp, Bettmann, Atlantic, Pittsburgh, Pittsburgh Post, Gazette, US, Fairfield Works, . Steel, World Steel Association . US Steel, Bethlehem Steel, Inland Steel, LTV Steel, Dow Jones, Walt Disney, JPMorgan, Co, Street, LTV, Reuters, Cliffs, The United Steelworkers, Ohio Republican Locations: New York, Pittsburgh, United States, Europe, Japan, Germany, Fairfield Works ., Charlotte, America, Bethlehem, steelmakers, China, India, Korea, Inland, Cleveland, Ohio

☆ It’s official: Silicon Valley’s entire business model is a scam
▼ + stars: | 2023-07-18 | by ( Adam Rogers | ) www.businessinsider.com time to read: +13 min

The problem is, conservative economists at the University of Chicago have spent the past 50 years insisting that under capitalism, predatory pricing is not a thing. Predatory companies could never recoup their losses, which meant predatory behaviors are irrational. Lots of economists have come up with solid counter-counterarguments to the Chicago School's skepticism about predatory pricing. A company that engages in predatory pricing and its late-stage investors might not recoup, but the venture investors do. "If people in Silicon Valley start thinking about this as a predatory pricing scam, then I think the late-stage investors will start asking questions."

Persons: Matt Wansley, Wansley, we're, Uber, Cardozo, Sam Weinstein, gobs, you've, —, Brooke, Spencer Waller, Matsushita, Weinstein —, Justice Department —, it's, Weinstein, Matt, that's, Will Uber, Waller, David, Maurer, they've, Adam Rogers Organizations: Lyft, Big Tech, Cardozo School of Law, Justice Department, University of Chicago, Chicago School, Supreme, Matsushita Electric Industry Co, Zenith Radio Corp, Brooke Group, Brown & Williamson Tobacco Corp, United, Loyola's School of Law, Venture, Matsushita, VCs, Chicago, Loyola, pharma, aha, Wansley Locations: United States, Chicago, Silicon Valley, Silicon

☆ Greg Fleming's Rockefeller strategic-advisory team defies dealmaking drought thanks to this rich family
▼ + stars: | 2023-05-31 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

The wealth manager's CEO Greg Fleming has deep ties to the Desmarais family behind the insurer. In the midst of a dealmaking lull, Rockefeller Capital Management can add another billion-dollar advisory deal to its resume. Advised by the five-year-old firm, Canadian insurer Great-West Lifeco is selling asset management subsidiary Putnam Investments to Franklin Templeton, the firms announced today. Since Fleming launched Rockefeller, born out of the Standard Oil heirs' family office, Great-West Lifeco has consistently sought the firm's services. The Rockefeller family also increased its stake by an undisclosed amount.

Persons: Rockefeller, Franklin Templeton, Greg Fleming, Lifeco, Morgan Stanley, Merrill Lynch, Jim Ratigan, Stephen Valentino, Fleming, Paul Desmarais Jr Organizations: Rockefeller Capital Management, Putnam Investments, Pitchbook, Wall Street, Deutsche Bank . Rockefeller, Standard, Rockefeller, Power Corporation of Canada, Viking Global, Bank of America

☆ Fierce Competition and Lychee Martinis at an Underground Mahjong Club
▼ + stars: | 2023-05-19 | by ( Jason Chen | ) www.nytimes.com time to read: +1 min

The idea for an office mahjong league came unexpectedly to Bella Janssens, the director of the architectural design firm Food New York, which has collaborated with Virgil Abloh, Axel Vervoordt and Manhattan’s Museum of Modern Art. Though it originated in China in the 19th century, mahjong has long been popular throughout Southeast Asia, Japan and America; it was brought stateside by a Standard Oil company representative returning from Shanghai in the 1920s. Wong, who was born and raised in San Diego, had a typical second-generation immigrant’s relationship to mahjong. (His parents are from Hong Kong.) “I played it once, probably with my grandparents and great-aunts, and my memory was that I won that game,” he says, “and only 30 years later did I realize they were probably just [messing] with me.”

☆ From ‘Front-Page Girls’ to Newsroom Leaders
▼ + stars: | 2023-05-13 | by ( Jane Kamensky | ) www.nytimes.com time to read: +3 min

Yet few readers today will place Ross’s name, let alone those of the “front-page girls” she celebrated. Papers with strapped budgets took on more women, a trajectory that mirrors the history of professions like teaching and nursing. Still, as late as the 1950s, Kroeger writes, “women journalists inched across a swinging rope bridge toward fuller acceptance but still in single file.” Their pluck went only so far. Between 1970 and 1983, anti-discrimination suits roiled The Times, Newsweek, Time, The Washington Post and The Associated Press, among other outlets. Before those proceedings, women had tended to cluster “on the bottom rungs of a company ladder with broken steps,” Kroeger writes.

☆ How two of North America's richest families came together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp., Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ Why two of North America's richest families are coming together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-05 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp, Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ Rockefeller Capital is approaching $100 billion in client assets. CEO Greg Fleming lays out his plans to double that and hire 150 more wealth advisors.
▼ + stars: | 2023-01-30 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wall Street veteran Greg Fleming founded Rockefeller Capital Management almost five years ago. Wall Street veteran Gregory Fleming launched wealth firm Rockefeller Capital Management in 2018 with the goal of hitting $100 billion in assets by 2023. If anything, the market turbulence has led to more inbound interest from clients, Fleming told Insider. He added that there is still potential to convert more wealth management clients into advisory clients and vice versa. For us, a lot of it is about the fit with the Rockefeller global family office," he said.

☆ Rockefeller Capital's Greg Fleming on the $98 billion firm's plans to double assets
▼ + stars: | 2023-01-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wall Street veteran Greg Fleming founded Rockefeller Capital Management almost five years ago. Wall Street veteran Gregory Fleming launched wealth fim Rockefeller Capital Management in 2018 with the goal of hitting $100 billion in assets by 2023. If anything, the market turbulence has led to more inbound interest from clients, Fleming told Insider. He added that there is still potential to convert more wealth management clients into advisory clients and vice versa. For us, a lot of it is about the fit with the Rockefeller global family office," he said.

☆ Feds cite rarely used law to charge 12 with violent scheme to 'monopolize' business at U.S.-Mexico border
▼ + stars: | 2022-12-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Julia-Ainsley-Circle-Byline-Template.Jpg | Julia Ainsley | ) www.nbcnews.com time to read: +2 min

The Justice Department invoked a rarely used, 132-year-old law on Tuesday to charge 12 people with running a violent and sometimes deadly scheme to “monopolize” the resale of American cars and other goods in Central America by fixing prices and retaliating against those who refused to be extorted. The Justice Department charged the group under the Sherman Act of 1890, an antitrust regulation used to break up American monopolies Standard Oil in the 1920s and AT&T in the 1970s. Those who challenged the group were met with threats, kidnappings and even death, the indictment said. The defendants’ addresses in the indictment range from the Rio Grande Valley in Texas to just across the border in Matamoros, Mexico. The indictment said the group met at the Holiday Inn in Harlingen, Texas, in March 2019 to divide $44,000 in cash.

☆ 16 best hotels for Christmas celebrations
▼ + stars: | 2015-12-03 | by ( Marnie Hunter | ) edition.cnn.com time to read: +14 min

On Christmas Eve, there’s a Season’s Greetings Dinner ($125 per adult; $55 per child) and a service in the resort’s chapel. On Christmas Day, puzzles and board games, indoor planetarium presentations and a Christmas musical will keep families entertained. Christmas Eve and Christmas Day dinner will be served at both Olivella and The Oak, and there’s a grand buffet on Christmas Day at The Farmhouse ($195 per adult, including wine; $65 for children 12 and younger). Eloise, the hotel’s famous fictional resident, lends her name to a children’s tea available for $118 per child. The Circle will host a buffet brunch on Christmas Eve and Christmas Day ($285 per person; $100 for children 12 and younger).

Persons: there’s, There’s, Eloise, Chiang Rai, Thailand’s Chiang, Chiang, Rebekah Sampson, doesn’t, brunch, Dennis Boon, Hôtel, Crillon, King Louis XV, Hôtel de, Paris Willard, Willard, Robin Bar, England Madeline, Whit Richardson, Madeline, Morocco Royal Mansour, stunner, Royal Mansour, Hélène Darroze, Jean Lachenal, Rue Abou El Abbas Sebti, Henry Morrison Flagler, Christmastime, Proust, Louis Vuitton, Claridge's, Father Christmas, Claridge’s Organizations: CNN, Scottish Highlands, Royal, Court, Park, Chiang, Scottsdale , Arizona Families, Scottsdale Princess, Scottsdale , Arizona Rock, Rock House, Jardin, Concorde, Paris Willard InterContinental, Washington, Willard InterContinental, DC, Hampshire, Residences :, Auberge, Residences, Telluride , Colorado Royal, Michelin, Standard Oil Co, Palm Beach , Florida Ritz, Ritz Paris Locations: Greenbrier, Sulphur Springs , West Virginia, Fife, Braemar, Scotland, The Fife, Cairngorms, Scottish, Balmoral, Swiss, Aberdeenshire, Scotland Ojai, Ojai , California, Ojai, caroling, , New York, Thailand, Thailand’s, Thailand’s Chiang Rai province, Elephant, Chiang Saen District, Fairmont Scottsdale, Scottsdale , Arizona, Scottsdale, Providenciales, Caicos, Turks, Greece, Morocco, Italy, Crillon, Paris, Rosewood, United States, Pennsylvania, , Washington, Hampshire, London, England, Hotel Hampshire, Park, Lane, Residences : Telluride , Colorado, Telluride, Colorado, Telluride , Colorado, Telluride , Colorado Royal Mansour, Marrakech, La Grande, Beach , Florida, HMF, Ponce de, Palm Beach , Florida, France, Brook, Mayfair

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