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Search Results 0 to 49 of about 123 (some duplicates have been removed)
Jun 4, 2013 9:00pm EDT
be in their account independent of the financial collapse. >> representative george miller of california is chairman of the house committee on education and labor and a staunch critic of the 401(k) industry, especially its practice of deducting more than a dozen undisclosed fees from its clients' 401(k) accounts. >> now you got a bunch of economic wizards jumping in and taking money out of your retirement plan, and they don't want to tell you how much. you can't decipher it in simple english, and they're not interested in disclosing it or having any transparency about it. >> and most of the people that look at their 401(k)s have no idea that these fees are being taken out. >> no. where would you find it? where would you find these fees in this prospectus? you can look on any page you want, and when you're all done reading it--and you will find some of the fees and the commissions here, but you won't find them all, and i bet you won't find half of them. >> there are legal fees, trustee fees, transactional fees, stewardship fees, bookkeeping fees, finders' fees, and the list goe
Jan 31, 2012 9:00pm EST
general will be in operation for about 25 years. >> rick george, the colorado-born c.e.o. of suncor energy, took us into his strip mine for a tour. >> so, bob, this is what the oil sands tar looks like. it's a very rich, very pliable kind of a soil. >> now, when i squeeze it, why doesn't oil come out? >> well, because it's not warm enough. if you add this to hot water, you'll start the separation process, and you'll see the oil come to the top of the water, and you'll see sand drop to the bottom. >> it looks like topsoil, doesn't it? >> it does, but it is oil. >> it looks like topsoil, but all it grows is money. [laughter] it didn't always. the oil sands have been in the ground for millions of years, but for decades, prospectors lost millions of dollars trying to squeeze the oil out of the sand. it simply cost too much. t. boone pickens, the legendary texas oil tycoon, was working alberta's traditional oil rigs back in the '60s and remembers how he and his colleagues thought mining for oil sands was a joke. >> here we are, sitting here having a drink after work, and somebody said, "
Aug 29, 2012 12:00am EDT
outside the community, solomon dwek may be a george costanza from "seinfeld," but within the community, he's a george clooney. he has all the elements that gain people's trust. and people want to be part of his life. >> narrator: soon, dwek puts his people skills to good use as chief fundraiser at the deal yeshivah, a jewish day school. >> he was taking more than $200,000 a year doing this. his wife was making $100,000. we talked to teachers and administrators at the deal yeshivah. nobody ever saw either one of them. >> narrator: but dwek's idea of fundraising is blatantly illegal. he uses a common tax dodge that appeals to wealthy donors. journalists josh margolin and ted sherman detail dwek's scams in their book "the jersey sting." here's how the tax dodge works -- a donor will write a check to the school, let's say, in the amount of $100,000. of that hundred thousand, the school takes 10% and dwek takes 5%. >> out the backdoor, $85,000 comes back to the donor, so the donor then is allowed to take a full $100,000 tax deduction as a charitable donation. >> it worked out well
Aug 4, 2013 8:00pm EDT
the rich and powerful, but you'll run into billionaire george soros; eric schmidt, the guy who runs google; nobel prize winners; captains of industry; kings; and even a queen. >> lot of the work is done just sitting in the cafeteria in the congress hall and just seeing people pass by and discussing things. >> the queen hangs out in the cafeteria? >> i enjoy hanging out in the cafeteria. i'm gonna do it this afternoon, actually. it's fun. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this episode, we'll look at the yin and yang of international investment. first, a 2008 report on an american company in serious trouble in colombia, a country that was just beginning to emerge from the throes of civil war and narcoterrorism. chiquita brands international, of cincinnati, ohio, made millions growing bananas there, only to emerge with its reputation splattered in blood after acknowledging that it had paid nearly $2 million in protection money to a murderous paramilitary group that has killed or massacred thousands of people. when we first reported this story, it became clear that t
Mar 25, 2013 8:00pm EDT
] this is george. the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ [ticking] >> there's something stubborn about unemployment. not since the great depression has the length of joblessness been as long as it's been in the wake of the great recession. by late 2011, nearly 4 million people, almost 1/3 of the unemployed, had been out of work for more than a year. to understand what was happening, in february 2012, scott pelley went to stamford, connecticut, to see an experiment that might just offer a way back for americans trapped in unemployment. >> they started to go through round after round of layoffs, and i got caught in one of the layoffs there. >> the great recession arrived early for frank o'neill. >> it was a cold day in february. >> it was february 2008. o'neill was a credit consultant for an i.t. company. what happened? >> they called me into the vice president's office, and he basically told me that they were having some financial difficulty and
Dec 21, 2014 9:00pm EST
director under george w. bush. he knows a lot more about the attack on iran than he can say here. >> this was a good idea, all right? but i also admit this was a really big idea too. the rest of the world is looking at this and saying, "clearly, someone has legitimated this kind of activity as acceptable international conduct." the whole world is watching. >> the story of what we know about the stuxnet virus begins in june of 2010, when it was first detected and isolated by a tiny company in belarus after one of its clients in iran complained about a software glitch. within a month, a copy of the computer bug was being analyzed within a tight-knit community of computer security experts, and it immediately grabbed the attention of liam o murchu, an operations manager for symantec, one of the largest antivirus companies in the world. >> as soon as we saw it, we knew it was something completely different, and red flags started to go up straightaway. >> to begin with, stuxnet was incredibly complicated and sophisticated, beyond the cutting edge. it had been out in the wild for a year without
Oct 24, 2012 12:00am EDT
orders for the roadster from people like george clooney and then governor arnold schwarzenegger. they could afford it. this beautiful roadster costs a fortune. >> yeah, $109,000. >> $109,000. >> it's a deal. >> "it's a deal." >> and our car's twice the efficiency of a prius. so a prius is a gas-guzzling hog by comparison with our cars. >> he says the roadster can go over 200 miles before you have to plug it in to any ordinary wall outlet. it can take anywhere from 4 to 30 hours for a full charge. >> it's very easy. it's just like plugging in a hair dryer. it's super simple. >> oh, yeah? >> yeah. >> even a girl could do it? is that what you're trying to say? >> uh, even--yes, even a girl. >> from the beginning, musk wanted to prove that innovative and nimble silicon valley could build a better green car than lumbering, bureaucratic detroit. >> outside of detroit, everybody thinks detroit is dumb. >> well, they think you're hidebound. >> yeah, exact--same thing. >> bob lutz, former vice chairman of general motors, was the man in charge of developing their new products, and he says he ow
Mar 31, 2013 8:00pm EDT
. >> the savannah explosion led to immediate action on the part of congress. george miller, a california democrat, told ed foulke that lawmakers would impose a new safety standard if foulke continued to resist. >> mr. foulke, i must tell you, i just see such an incredible lack of urgency on your part about the role of your agency to protect workers that it's astounding. you're here clinging to what you've done. and it's turned out to be fatal for the american workers. >> if the employers comply with the housekeeping standards, it would eliminate, or at least mitigate, the hazard of having a combustible dust explosion. >> tammy miser, who lost her brother shawn in that 2003 explosion in indiana, now speaks out on behalf of other dust explosion victims. >> our losses are a lifelong, needless sentence, because a few people couldn't or wouldn't do what was right. >> what responsibility do you think osha bears? >> i feel that they should take most of the responsibility for this. because they know. and they're the ones that can prevent it; nobody else can. there's nobody else out there to take
Feb 25, 2013 12:00am EST
jerry jones of the dallas cowboys and the late george steinbrenner of the new york yankees, have become just as famous as their star players. in 2010, that exclusive club opened up to a man who counts his billions in rubles. his name is mikhail prokhorov, and we sat down with the russian oligarch just as he was buying the worst team in professional basketball, the new jersey nets. >> for me, life, and business in particular, is a big game. [thumping drum beat] >> if you could afford to do anything, would you do this? and hire a production company to put it to music? how about this? maybe not. but mikhail prokhorov is always looking for a challenge. you like danger? >> i like to control risk. >> control risk? >> yeah. >> by now, you have probably guessed that russia's wealthiest citizen and largest individual taxpayer is an adrenaline junkie. he is also one of the country's most avid sportsmen, a former owner of a moscow basketball that won the european championship. you will also notice that he is quite tall, 6'8" to be exact, as he trains here with his personal kickboxing partne
Jul 27, 2014 8:00pm EDT
into their van. >> george climbed up here on the back seat, and destiny and chance here. >> i was embarrassed that, like, maybe one of my friends might see me. i don't want anybody to know that i was actually in there. >> where was the van parked? >> it was at a walmart. >> we would actually go in walmart and clean ourself up before we go to school. >> yeah, in the bathrooms. >> save some money. >> how would you do that? >> i would, like, wash my face, and, like, take a tissue, wash my arms and stuff. >> we would bring the toothpaste and the toothbrush and the brushes, like, so we'll go brush our hair in the mirror, and, like, people would see us, and it would be kind of weird, but we worked through it. >> tell me about the motel that you're living in now. >> well, it's a lot better than the van. >> yeah. it's really small, though. >> two rooms for the five of them. their possessions, family photos, you name it, went into storage, and they lost it all, seized and sold when they couldn't pay that bill. >> most of my stuff was in there. my scooter, my game system, all my games, my c
Nov 23, 2014 8:00pm EST
." you could be the george steinbrenner of los angeles? >> oh, no, no, no. i've got enough on my plate, >> broad runs his philanthropic foundation like a for-profit business, not a charity. charity, he says, is just writing checks. he practices what he calls venture philanthropy. >> we don't give it away. we invest it, and we want a return. remember, i started work as a cpa, so that gave me fiscal discipline in everything i did in business, and i guess some of it carries over to philanthropy, >> eli broad says, "i want results, and if you're not gonna show me results, i'm not gonna give you the money, and incidentally, after one year, if you don't show me results, i'm gonna stop funding you." >> new york mayor michael bloomberg, no mean philanthropist himself, admires broad's uncuddly approach and the $32 million he has given to new york schools. >> eli broad sets the standard. i think it's really being a role model for others. and they look at eli, and because of him, they get the ideas, "i'm going to be innovative and be philanthropic and do some other things." the leverage of eli br
Apr 25, 2012 12:00am EDT
clear that being connected would put everyone on a very short leash. >> george, i forgot to tell you: now, get me two dozen oranges, two loaves of bread, 20 pounds of potatoes, five pounds of sugar... >> and when in the '60s at&t developed more sophisticated cellular antennas, the phone giant still considered car phones the name of the game. but marty cooper and his engineers at motorola thought otherwise and decided to elbow their way into the business. >> we really had a basic understanding that people are mobile, and it's personal telephones they want. it's handheld portables. so there was a real conflict between this elephant that was at&t and this fly that was motorola. but we ended up winning. >> on a chilly spring day, we took cooper back to the spot where he made that first call: 6th avenue outside the new york hilton. for the record, the call went to joel engel, cooper's rival at at&t. >> i said, "joel, this is marty cooper." he says, "hi." "i'm calling you from a cellular phone, but a real cellular phone, a handheld portable cellular phone." and there was silence on the end
Nov 30, 2014 8:00pm EST
. [ticking] >> in october 2008, with the financial system on the verge of collapse, president george w. bush signed into law a rescue package in which american taxpayers bought up wall street's bad investments. the numbers were staggering, but they didn't begin to explain the greed and the incompetence that created the mess. as we first reported that same week, it all began with a terrible bet, one that was magnified by reckless borrowing, complex securities, and a vast unregulated shadow market worth nearly $60 trillion that had hid the risks until it was too late to do anything about them. it started out as a mortgage crisis. then it slowly evolved into a credit crisis. now it's something entirely different and much more serious. what kind of a crisis is it today? >> this is a full-blown financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. >> jim grant is the editor of grant's interest rate observer and one of the country's foremost experts on credit markets. he says it didn't have to happen... [bell ringing] that this disaster was crea
Dec 4, 2012 9:00pm EST
tiny company that he acquired from george lucas for $5 million. pixar studios would eventually revolutionize movie animation and make jobs a multibillionaire. apple hadn't done so well, and a decade after jobs left, it decided to buy next computer and the services of jobs as a consultant, but he would soon take over as ceo. and when he goes back, it's almost bankrupt. >> it's, like, 90 days away from bankruptcy. they're totally out of money, and it's lost its way totally. so he says, "here's the 27, 30 things you're making," printers or whatever. and he draws a chart that just has four squares, and he says, "professional, home consumer. laptop, desktop. we're gonna make four computers." >> he retrenched, firing 3,000 people, and launched a new advertising campaign. >> here's to the crazy ones, the misfits, the rebels, the troublemakers. >> steve jobs helped write that himself. he edited it 100--he put in, "they changed the world." by the end, jobs, along with four or five other people, have written this not as ad copy but as a manifesto. >> they push the human race forward. and
Mar 3, 2013 8:00pm EST
to the future. >> that's right. >> anybody, whether it's sarah palin or george bush or john mccain, who think you can drill you out of the problem is... >> you don't have a chance. there's no way. we're importing 12 million barrels of oil a day. okay, let's just say that we were gonna replace 12 million barrels by drilling in america. we would be bigger than saudi arabia. and we're stretched for everything. i mean, we are a marginal producer. >> in order for his plan to work, pickens proposes replacing the natural gas that's now used to generate 22% of the nation's electricity with a new source of power, wind power, created by thousands of wind farms that would need to be built. how do you know the utilities are gonna take wind power as a substitute for natural gas? >> that may be a mandate. >> so that's a critical point. you may have to have the government demand this happen. >> right. >> suppose it doesn't work. suppose the pickens plan doesn't happen. what happens to the country? >> oh, well, the plan then is foreign oil. you're totally at the mercy of foreign oil. >> but it's n
Apr 13, 2014 9:00pm EDT
, iowa's congressional district is bipartisan country. it voted for george bush in 2004 and then for president obama. but on the eve of the 2010 midterm elections, newton was angry with washington, and the town's long-time congressman was feeling the heat. >> hi. how you doing? >> democratic congressman leonard boswell is fighting for his job. he's been reelected here six times, but this week his race against republican brad zaun is too close to call. >> my wife and i watched the news last night, and i think every ad was a political ad. >> who do you trust with your money, with your future? it's not brad zaun. >> leonard boswell: too wrong for too long. >> incredibly, bruce braley supports building a mosque at ground zero. >> how much relevance does all of that have to you? >> nothing. doesn't have a bit of relevance to me. >> we invited some of the folks in town to the legion hall. how many of you would say that you're angry about politics right now? [people murmuring] oh, that got a big yes. >> i'm sick and tired of people going to congress and washington, d.c., and making a living
Search Results 0 to 49 of about 123 (some duplicates have been removed)