Trump Entertainment Loss Grows (Bloomberg)
What's the point of emerging from bankruptcy if you're just going to keep losing money. Sounds like lots of good money going after bad at the Trump Casinos, both inside (at the poker table, etc.) and outside. Due to weak performance in A.C. posted a $183.2 million loss in the quarter. So much for the house always winning. Maybe a whale had a good week.
EU set to clear Google/DoubleClick merger: sources (Reuters)
It looks like GoogleClick is nearings its endgame. Word is that the EU is set to clear the merger, after having originally extended the time it wanted to examine it. The deal has already received approval on this side of the Atlantic. This outcome seemed likely, ever since the EU failed to deliver a formal statement of objections to the deal. Now Google, which has seen its core text ads business start to soften a little, can get its much needed boost in display and ad serving for other networks.
In Europe, Central Banking Is Different (NYT)
We've discussed this here before, but the NYT goes into a little more depth on the question of why the EU doesn't feel comfortable just flooding cash into a market they way the US central bank does. Answer: It's not its job. It's job is to keep prices stable, so that generally means keeping a steady hand on interest rates.
After the Fall:Life Moves On For Rogue Traders (WSJ)
One day this will all have been a bad dream for Jerome Kerviel, the SocGen trader. At that point, he'll have to come to terms with what he did and move on with life, just as well have to do after suffering a trading loss. One possibility is that he hits the lecture circuit, becomes an expert in risk management and maybe starts managing a soccer club. Other possibilities include... well, actually, that's pretty much it.
Plane flies five passengers from US to London (Telegraph)
Found this via Drudge of course... some folks are complaining about the environmental implications of a recent flight from US to London which only had five passengers. Ok, but presumably the plane didn't use any more fuel than if it had a full load. Probably actually less. And just because there were only five of them, doesn't mean they could've taken a train. Mainly it seems like a waste of money, but the good news is that the five passengers all got upgrades.
'Gifts' Case Nabs a Star (WSJ)
Peter Lynch takes a slight legal hit, as the SEC has dinged him over taking certain sporting tickets. It's not totally clear what the big crime is. But anyway, he's settled without admitting to wrongdoing. Also, via Paul K, here's the SEC filing. Apparently there's something about dwarf tossing in there.
Gates No Longer World's Richest Man (Forbes)
Warren Buffett is evidently the world's richest man again, as the success of Berkshire Hathaway swelled his war chest by $10 billion from a year ago. That being said, we've been reading about the demotion of Bill Gates before, though usually to Mexico's Carlos Slim. This report has Slim in second and Gates in third.