Money Matters - Simplified


Insiders Are Selling Micron at the Wrong Time, Wrong Price

Is Micron Technology (NYSE: MU) headed higher, or lower? That's the question we ask when we evaluate insider buying and selling. We ask because how executives spend their paychecks is often a reflection of what they think of their companies' prospects.

6 Risky Retailers

You don't need to watch a Victoria's Secret lingerie show or thumb through an Abercrombie & Fitchcatalog to know that retail can be sexy.

Buyer interested in Boston Globe

Boston -- A potential buyer has expressed interest in The Boston Globe and a sister newspaper in Worcester, Mass.

A Massachusetts company, 2100 Trust, issued a statement Wednesday saying it is putting together an investor group and intends to put in a bid for the Globe and the Worcester Telegram & Gazette, the Boston Herald reported. The two newspapers are owned by The New York Times Co.

The Times tried to sell the Globe last year but took it off the market when it failed to receive an attractive offer.

This suitor, headed by 37-year-old greeting card entrepreneur Aaro Kushner, hasn't divulged how much it may offer, the Herald said.

Saab gets $669 million defense order

Stockholm, Sweden -- Defense contractor Saab in Sweden said it had received a $669 million order from an unnamed buyer for Saab 2000 aircraft with advance radar capabilities.

Saab Chief Executive Officer Hakan Buskhe said the contract "can be seen as a further confirmation of our strong position in the world regarding not only the area of airborne surveillance but in systems integration and data fusion as well," The Local reported Monday.

The aircraft will be outfitted with ERIEYE radar that has been purchased by the Swedish Air Force, Brazil, Mexico, Greece and Pakistan.

Ground support and logistics are part of the package but Saab did not release the number of aircraft that were ordered, Defense Update reported.

Tycoon is top contender to buy Pistons

Detroit -- Merger and acquisitions magnate Tom Gores is looking like the most likely buyer of the Detroit Pistons, sources tell The Detroit News.

The newspaper cites "sources close to the situation" who requested anonymity under a confidentiality agreement for the report. The basketball team has been valued at $479 million.

Gores, 46, and his group have twice visited team offices, the only interested group to do so, the report said. He made another visit Wednesday, but has not yet made a bid.

$220 million penthouse sets record

London -- An anonymous buyer set a record for the world's priciest dwelling by shelling out $220 million for a six-bedroom London penthouse.million

The Daily Telegraph said Friday the buyer, who some speculate is an oil magnate from the Middle East or Nigeria, will have tunnel access to the Mandarin Oriental hotel from the penthouse at high-end development One Hyde Park.

The Daily Mail said the penthouse also comes with bulletproof windows, a panic room and specially trained guards.

The price tag beat the previous record for the most expensive dwelling on the market, Candy Spelling's $150 million mansion in Bel Air, Calif., the Telegraph said.

Copyright 2010 United Press International, Inc. (UPI).

Luxury hotel in Canada is sold

Edmonton, Alberta -- Canadian hotel management firm Allied Hotel Properties Inc. said it had sold the Crowne Plaza Chateau Lacombe for $47.8 million to an unnamed buyer.

The hotel is a landmark in Edmonton, Alberta, a round tower that provides one of several distinguished silhouettes in the city's landscape.

Allied said the terms of the deal involved $36 million in cash. The rest of the deal was financed through a vendor take-back mortgage, the Edmonton Journal reported Wednesday.

A vendor take-back mortgage, essentially, allows the seller to finance part of a transaction.

Copyright 2010 United Press International, Inc. (UPI).