A couple of guys with serious investment banking experience are moving into the marijuana business. They've launched the first multimillion-dollar private equity fund devoted entirely to what they like to call the "cannabis space."
It started when Brendan Kennedy was working at the Silicon Valley Bank and learned of an entrepreneur who wanted to sell software for marijuana dispensaries. The idea piqued Kennedy's interest. A few days later, a radio show about legalizing pot piqued it even more.
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In New York City today, a victory for the Securities and Exchange Commission: A federal jury held former Goldman Sachs trader Fabrice Tourre liable on six of the seven counts against him. The SEC had accused Tourre of intentionally misleading investors about a mortgage-backed security just as the housing sector was beginning to collapse. The investment created huge losses.
A new homeless initiative in Hawaii is raising some eyebrows, and the department in charge of implementing it has concerns of its own.
As part of a larger housing bill in July, the state Legislature approved $100,000 per year for a three-year pilot project that would help get some homeless people off the island and back to their families on the mainland. Participants must leave voluntarily.
Originally published on Thu August 1, 2013 3:59 pm
A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.
Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.
One of three women kidnapped and repeatedly raped for a decade before their escape told her abductor Thursday that her life is just beginning while his is over now that he’s about to be sentenced to life in prison.
Michelle Knight stood just feet away from Ariel Castro in a Cleveland courtroom, the first time she’s been seen publicly since her rescue from the house where she was held captive.
Public education in the United States has long been political. From equal education for women and minorities, to the differences in funding between wealthy and poor communities, efforts to provide quality public education and reduce these differences have proved to be difficult to attain, not to mention controversial and divisive.
The Obama administration has pushed for education reform with U.S. Secretary of Education Arne Duncan at the helm. Duncan’s policies have appealed to both Republicans and Democrats, but his task is far from easy.