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Latest purchased news and updates

Money Matters - Simplified


Bill Gross Is Buying This. Should You?

 The bond market has gone into free fall in recent weeks. But bond guru Bill Gross apparently thinks it's much ado about nothing -- and he's letting his money do the talking for him.


Inkling Reinvents Textbooks for the iPad

Throughout the two years Matt MacInnis spent working as senior manager in international education at Apple (Nasdaq:AAPL), he had plenty of opportunity to watch teachers integrate technology into their classrooms as a learning tool. And he found it wholly disappointing.

Custer's flag sells for $1.9M at auction

New York -- One of U.S. Gen. George Armstrong Custer's battle flags, left on the field of the Little Bighorn by the Indians, didn't win much respect from collectors either.

The cavalry guidon, a military standard, drew a mere $1.9 million, much less than expected, at an auction at Sotheby's in New York Friday, USA Today reported. The price fell below the low-end presale estimate of $2 million, despite predictions it might go for as much as $5 million.

Sotheby's described the flag as a "silk guidon with a field of 13 red and white stripes and a canton of blue with 35 applied gold stars, with a swallow-tail design at free edge; some fraying, splits, and tears; some running of color; staining, including, evidently, blood stains."

Fiji Water buys California winery

San Francisco -- Bottled water company Fiji said it had agreed to buy California winery Justin Vineyards & Winery, despite the fact the winery was doing well.

"The Justin folks have done an exceptional job of building a great business, primarily based on fantastic products," Fiji President John Chochran said, the San Francisco Chronicle reported Monday.

Contrary to a recent trend, a winery on the upswing was purchased. It has been unusual with the economic downturn of the past two years for wineries to find a new owner, unless they were struggling, the newspaper said.

With the Justin acquisition, eight California wineries have been purchased this year, twice as many as 2009, the Wine Institute said.

The King of Pharma Gets More Royal

Pfizer (NYSE: PFE), the largest drugmaker in the world, is getting a little bigger after announcing that it was buying King Pharmaceuticals (NYSE: KG) for $3.6 billion.

Stolen coin back at store within hours

Vero Beach, Fla. -- Police in Florida said a $9,000 coin stolen from an antique store was brought back within a few hours by someone who purchased it from the alleged thief.

Police said Christopher William Saunders, 27, of Vero Beach, took the coin from the West Bay Trading Company in Vero Beach while selling some coins at the business Friday and sold it for $167 that same day to Gold Coast Antiques, TCPalm.com reported Thursday.

The antique store owner took the coin to West Bay Trading Company for a resale and the owner of that store recognized it as coming from the Luz, a Spanish treasure vessel that sank in 1752.

Chicago's Merchandise Mart up for sale

Chicago -- Merchandise Mart Properties Inc. is up for sale in the billion-dollar-plus range, Crain's Chicago Business reported Saturday.

The seller is Vornado Realty Trust, which purchased Merchandise Mart for $630 million from the Christopher Kennedy family in 1998.

Sources described as people familiar with the negotiations told Crain's a $1.25 billion offer popped up only to die on the vine last month.

Kennedy, 47, whose family has been associated with the company since 1945, has been Merchandise Mart president since 2000, leading the company's major expansion. The firm stages trade shows and leases showroom and office space in eight locations across the country.

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

Woods' ex-mistress Rachel Uchitel buys swanky condo in NYC

Rachel Uchitel, also known in the media as Tiger Woods' numero uno mistress, has finally overcome the hurdles that came in her way for buying a swanky New York condo.

Egg recall expanded, grows to 380 million

Adding further woes to Iowa-based Wright County Egg of Galt, the egg supplier has voluntarily expanded its recall to include another 152 million eggs over fears of Salmonella taints.

US salmonella update: 13 popular egg brands recalled

Health authorities in the United States have started investigating an outbreak of Salmonella food poisoning in counties across the nation. According to the U.S. Centers for Disease Control and Prevention (CDC), eggs produced by an Iowa company are responsible for spreading potentially deadly salmonella poisoning.