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Posts Tagged ‘Top’

After The Bailout AIG Bought Themselves A $440,000 “Retreat” At A California Resort [Aig Goes On Vacation]

07 Oct

Now that AIG has been nationalized, some folks are wondering just how their tax dollars are being spent. If you're among them, we have some bad news for you from ABC. They are reporting that papers uncovered by congressional investigators show that "less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California." Ouch.

ABC says that the documents show that the company, yes the company, paid more than $400,000 for a week long retreat at the resort. The bill included $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.

"They're getting their pedicures and their manicures and the American people are paying for that," said Cong. Elijah Cummings (D-MD).

AIG's former CEO told Congress today that AIG was a victim of a "crisis in confidence" and an "unprecedented global catastrophe," but records show that there were serious concerns about the way the company was being managed.

In March, 2008, the Office of Thrift Supervision wrote AIG, "We are concerned that the corporate oversight of AIG Financial Products…lacks critical elements of independence, transparency, and granularity."

Congressman Waxman also said that there was evidence that the former CEO changed the bonus schedule in order to insure that top executives would continue making multi-million dollar salaries, even as their company went broke.

"Mr. Sullivan and the other top executives should have had their bonuses slashed due to poor performance," said Waxman.

Sullivan received a $15 million golden parachute payment when he was let go in June, says ABC.

After Bailout, AIG Execs Head to California Resort [ABC] (Thanks, Melanie !)


 
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Lehman Brothers CEO Got Punched In The Face [Dick Fuld Is Punched]

07 Oct

Dick "It Wasn't My Fault" Fuld, the CEO of bankrupt investment bank Lehman Brothers, (seen here being heckled after testifying on Capitol Hill) was apparently punched in the face while working out in Lehman gym on the Sunday following the bankruptcy, according to CNBC's Vicki Ward.

Fuld testified before the House Oversight Committee yesterday, blaming everyone but himself for Lehman's collapse, an attitude that prompted Ward to confirm reports that he'd been punched in the face and to side with the attacker:

“From two very senior sources – one incredibly senior source – that he went to the gym after … Lehman was announced as going under. He was on a treadmill with a heart monitor on. Someone was in the corner, pumping iron and he walked over and he knocked him out cold. And frankly after having watched this, I’d have done the same too.”

Are You "With" The Face Puncher?
( polls)

Knock Out: CNBC Confirms Lehman CEO Punched at Gym [Business And Media]
Lehman CEO Fuld Blames Everyone But Not Himself [Gothamist]
(AP Photo/Susan Walsh)


 
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$35 Per Ticket Movie Theater Comes With Valet Parking, Blankets And Slippers [Expensive]

03 Oct

That new luxury movie theater we told you about back in March will open Friday in affluent South Barrington, IL. At $35 a ticket, you're treated to valet parking, waiter service, individual reclining chairs, and should you require, blankets and slippers. And no, the food isn't included.

From the Daily Herald:

The theater's menu includes a full wine list, Dom Perignon champagne at $295 a bottle, and food items like duck tacos, Wagyu beef burgers and bleu cheese potato chips.

The South Barrington Gold Class Cinemas is the first in the country. Aside from South Barrington's, the company has theaters only overseas in Asia, Australia and Europe.

Targeting upscale clientele and businesses looking to hold private screenings, Gold Class officials said they hope to open 50 theaters across the country in the next five years.

Is $35 worth it?
( surveys)

Luxury theater opens Friday in South Barrington [Daily Herald]
(Photo: Getty)


 
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Woman Buys House For $1.75 On EBay [Money Meltdown]

02 Oct

Joanne Smith from Chicago now owns an abandoned home in Saginaw, Michigan, and she only paid $1.75 for it on eBay. Well, there's also $850 in "back taxes and yard cleanup cost," reports MSNBC. Smith says she hasn't seen the house yet or visited the town, but we're thinking hello summer home! Or maybe it's a good place to put the parents when they retire.

The company that auctioned the home wasn't available for comment, so we'll be curious to see whether they try to squirm out of the deal. Like, oh, maybe saying a bunch of Canadianized killer bees moved in.

"$1.75 eBay bid gets abandoned Michigan home" [MSNBC.com] (Thanks to Scott!)
(Photo: MSNBC)


 
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10 Unconventional Travel Tips From A Veteran Travel Writer [Travel]

14 Sep

Travel writer Chuck Thompson buried 12 unconventional travel tips in his memoir Smile When You're Lying. Included on the list: lie, steal, and over-spend.

Lie

Great news! You're eligible for all sorts of discounts because you work for a Fortune 500 company. What, you don't work for a Fortune 500 company? How would rental agents know? Mention it before they ask, or if they offer a rate, respond with: "Geez, that's a little higher than I paid last time I'm a regional director for Microsoft out here in [wherever] and I'm pretty sure we have a rate with you guys."

Once the discount is in the computer, it's there to stay.

Or if you want a bulkhead seat on your next flight, tell the gate agent that you're prone to, err, deep-vein thrombosis and you have a doctor's note or a note on doctor-like stationary to prove it. Or you can try to earn your sympathy because you're *ahem* on your way to your best friend's wedding and you're worried about speaking at the rehearsal dinner.

Hang Up On Morons

Trust your instincts. The person on the other end of the line is a moron. Hang-up and try again.

At least that's what travel-man Thompson recommends. We know that front-line employees rarely solve problem, so instead of playing whack-a-mole with unhelpful CSRs, politely escalate until you find someone who isn't a moron.

Steal An Extra Inch Of Legroom

All that junk airlines cram into seatback pockets? Throw it out. You don't need magazines and promotional garbage. Chuck everything—except the barf bag—into the overhead bin and enjoy a free extra inch of legroom.

Eat A Meal Before You Board

It's not like they'll serve you free food onboard, so swing by a restaurant on your way to the airport and fill up. Or at least grab some fruit before you board.

Resurrect Dead Batteries

Rub dead batteries briskly against your pant leg for a minute. The static generates a recharge that should last for an hour. May not work with iPods.

Don't Be A Jackass

Look, they don't know that you lied about the wedding and the deep-vein thrombosis, but they will notice if you're That Guy, and employees will make it their mission to pay you back in full. Smile, say "thank you," and have a pleasant attitude.

Bribe

Oh, this box of chocolates you got as a gift that you happen to be allergic to? Would you like them, Ms. Gate Agent who can get you out of the middle seat?

Apparently this form of bribery works if you're smooth enough.

And gate agents do have extra seats, if you're nice. On Boeing 767s, seats 17A B H and J are comfy coach spots reserved for the crew on international flights. On domestic flights, they stay open until right before boarding, along with business class and first class seats, and are given to traveling employees and gate agent favorites.

Tip Early

$10 on the first night of your stay goes a long way to saying you might give more later if they don't spit on your toothbrush.

Pay Up

You're on vacation, pay up. Don't travel to the Caribbean and settle for anything less than an ocean view. Pay for the room, pay for the food, pay for the experience.

Ignore Jet Lag

It's all in your head, whiner. Force yourself to adapt to the local time and walk off the sleepiness.

Smile When You're Lying: Confessions of a Rogue Travel Writer [Amazon, The New York Public Library]


 
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Science Has Gone Mad Because It Lacks A Purpose, Say Fringe Creators [Fringe]

12 Sep

Why is the science in Fringe so out-of-control and scary? Turns out it's because science hasn't had a real goal since the 1960s, according to Fringe writer/producers Roberto Orci, Alex Kurtzman and Jeff Pinker, who talked to reporters on a conference call today. (I think the designers of the LHC might disagree.) They also answered your most burning question: When will we see a Lost/Fringe crossover?

When asked if Fringe and Lost exist in the same world Roberto Orci responded:

I don't know how Lost ends and I don't know if you know, Alex. So I don't know what the ultimate answer is on Fringe so I'm not sure yet if they exist in the same world. That's actually something I'd be willing to think about going forward. But certainly that is not something that we started thinking about in the DNA of this show.

So there goes my whole fantasy of seeing Sawyer and Joshua Jackson have a smart ass-off and then fight over Keri Russel from Felicity.

On the new scary science Jeff Pinker explained that this even though he believes that Fringe is decidedly non-fiction, it's still pretty terrifying what the science of today can do.

The world has changed in such a way that science doesn't seem to have a goal anymore. When we were kids it was, "Let's get to the moon." And a lot of money and brain power was spent then onto the moon. Now there's a lot more money it seems and a lot more people and private companies have it. They are all sort of following their imagination and doing anything they can. Some of it seems to be morally good and some of it seems to be morally a little but careless. But anything that we can imagine be it good or bad, seems like the real world is already two steps ahead of our imagination. Our stories are being told through our characters but the things that they are doing has kind of made us as writers slightly more wary of our world and astounded by the possibilities exceeding our imagination.


 
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Verizon Tech Made 5,000 Sex Chat Calls On Customer Accounts [Verizon]

11 Sep

The next time you're disputing a 900 number call to a sex hotline and the CSR tells you nobody else could have made that call, remind them of this story. Over the past 10 months, a Verizon technician made 5,000 calls to sex chat hotlines, totaling 45,000 minutes of dirty talk at a cost of $220,000. He placed the calls from over 950 tapped residential and commercial accounts throughout Bergen county in New Jersey. He has since resigned, and been charged with theft by deception and theft of services.

Joseph R. Vaccarelli worked for Verion for 10 years but only started making the calls within the last 10 months, which makes us wonder what exactly happened last November or December to make him launch his non-stop telephone orgy of fraud—and how he got any work done during that time.

Verizon would like everyone to know that not all of its employees regularly call phone sex hotlines and charge the fees to customer accounts:

"We believe this was a highly isolated incident by an errant individual," Young said. "It should not reflect on the overwhelming majority of our workforce, who bring pride and respect to their jobs every day."

"Verizon Worker Charged in 5,000 Illicit Sex Calls" [redOrbit] (Thanks to skokieguy!)
(Photo: ernop)


 
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Giz Explains: Why HD Video Downloads Aren’t Very High Def [Giz Explains]

10 Sep

Yesterday Apple introduced HD TV downloads to the iTunes store, meaning you can watch Peter be super emo on Heroes at a crispy 720p resolution. That's a higher resolution than DVD, and technically, yup, that's HD. There's a catch though. Like every other video download service touting HD videos, it's all actually lower quality than DVD.

It's all about bitrate: How much data is packed into a file, described as bits per second. Generally speaking, a higher bitrate translates into higher quality audio and video, though quality can also be affected by codec—the encoding and compression technique that was used to make and read the file—so bitrate is not an absolute mark of quality, but it's still a very good indicator.

You're probably most familiar with this bitrate business when it comes to ripping your CDs. When you shove a CD into your computer, your ripping program will ask what format you want and what bitrate you want. A song ripped at a higher bitrate will sound better, with more presence and detail, but it does take up more space.

The same principle applies with video, though it's actually a bigger deal, because it's easier to see quality differences in video than it is to hear differences in audio. The bits make a huge difference when you get into fast moving stuff like sports or action movies—to be frank, they'll look like splattered, smeared shit in highly compressed low-bitrate vids. This chart below, expertly crafted by George Ou at ZDNet provides a solid starting point for comparison, with average bitrates of most digital video available.

As you can see, regular DVD runs at about 6-8 megabits per second. High-def iTunes content, despite having a higher resolution, is half that, a mere 4Mbps. Vudu's current HD movies is also about 4Mbps, if you've got the pipes. Xbox Live Marketplace has the highest bitrate—and indeed, often gets props for its quality—at close to 6.8Mbps. On the other hand, standard-def movies on the Netflix Roku box max out at around 2.2Mbps—and are often delivered in lower qualities because of bandwidth constraints. iTunes standard def TV shows run around 1.5Mbps. Now, consider that Blu-ray is a mean 40Mbps and you see that the definition of "HD" is suddenly remarkably vague.

That's a pissload of numbers. What does that mean?

This comparison test we ran in February pretty much shows you what's wrong: No matter how awesome MPEG-4 compression—or whatever the codec of the month is—gets, it can't work miracles when it's missing bits. It's why Vudu, for instance, is testing out a new closer-to-real-HD service—that they've revealed to us has three times the bitrate of any other download service on the market, meaning it should be close to 20Mbps—that will take hours to deliver to your home. But even then, the notion that it would truly rival Blu-ray is totally laughable.

It's not just download services giving you this watered-down so-called "HD lite", either. Comcast was busted cramming three HD channels into the space of two, resulting in crappy looking HDTV, and the satellite guys adding a million HD channels a year aren't much better.

Now that you understand what makes or breaks an HD picture—the amount of data— it's probably no surprise to you that the major reason everyone is peddling subpar HD is bandwidth. HD content is pipe-bustingly huge—a standard-def Battlestar Galactica file on iTunes is 520MB and takes about 15 minutes to download via a strong cable connection. The 720p HD download is 1.4GB and takes 40 minutes or so for your hard drive to completely swallow. The Blu-ray version of the same ep might be 10 times that—like 14GB. Putting that in more context, a single TV episode would take up twice the space as the average dual-layer DVD movie.

Right now, we don't have the broadband infrastructure to support it, and who knows when we will? Hell, the people with the best chance of giving us that added bandwidth—the major ISPs like Comcast and AT&T—are doing just the opposite: Implementing usage caps that will mean less HD downloading. The sad thing is, they probably won't even use the added bandwidth to make their own HD TV channels look better.


 
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EA Announces SimCity and The Sims 3 for the iPhone: Spore Coming on September 7th [IPhone]

04 Sep

EA has announced that nine new titles are currently in development for the iPhone: Yahtzee Adventures, EA Mini Golf, Lemonade Tycoon, Mahjong, Monopoly: Here & Now The World Edition, SimCity, Tiger Woods PGA TOUR 09, Need for Speed Undercover, and The Sims 3. Many of these titles have been mentioned before, but I was pretty pumped to hear about SimCity and the Sims 3 being added to the list. EA has also revealed that they are shooting to release Spore Origins on September 7th—the same day it is released on the Mac and PC. Hit the jump for some new Spore screenshots and the official press release.



LOS ANGELES, Calif., – September 5, 2008 – EA Mobile™, a division of Electronic Arts Inc. (NASDAQ:ERTS), today announced that Spore™ Origins, an original game for the iPhone™ and iPod® touch, will be available this month. The game takes full advantage of the devices’ built-in accelerometer as players tilt, turn and twist their way through a world made of primordial ooze. In conjunction with the launch of Spore Origins, EA Mobile also announces a list of nine games in development for both the iPhone and iPod Touch platforms.

Eat-or-be-eaten in Spore Origins! Designed specifically for the iPhone and iPod touch, Spore Origins uses the platforms’ motion-sensing technology to let gamers navigate a primordial tidepool on a quest to evolve. Feast on the weak and flee from the strong through two exciting modes and 35 challenging levels. Pinch, pull, and poke your creation in the Creature Editor, customizing the texture, shape and body parts to improve your offense, defense, perception and movement as you evolve over millions of years.

““We’re really excited to bring Spore Origins to the iPhone and iPod touch,” said Travis Boatman, Vice President Worldwide Studios at EA Mobile. “By leveraging the unique capabilities of these devices, players can customize their own creatures and shape their destiny in an exciting evolutionary journey. ”

EA Mobile today also announced nine titles in development for the iPhone and iPod touch, pending regional availability. This list includes YAHTZEE Adventures, EA Mini Golf, Lemonade Tycoonâ„¢, Mahjong, MONOPOLY: Here & Now The World Edition, SimCity, Tiger Woods PGA TOUR 09, Need for Speedâ„¢ Undercover, and The Simsâ„¢ 3.

Spore Origins will be available globally from the Apple App Store on iPhone and iPod touch, or by simply visiting www.eamobile.com from an iPhone. Additional versions of Spore Origins are also available for the iPod, as well as other mobile devices. All iPod games are available for the third-generation iPod nano, iPod classic and fifth-generation iPod and can be sent as a gift using the iTunes gifting feature (www.itunes.com).


 
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Who’s Smiling Now? Enzyte Scammer Gets 25 Years In Prison [Enzyte]

28 Aug

Steve Warshak, founder of the company responsible for "Enzyte," has been sentenced to 25 years in prison and ordered to pay a fine of $93,000, says the AP. U.S. District Judge S. Arthur Spiegel also ordered the company, along with other defendants, to forfeit more than $500 million that it bilked from consumers.

According to federal prosecutors the scam involved preying on customer's reluctance to admit that they had ordered the "male enhancement" pills. Customers ordered the pills, but were unable to cancel or get a refund. A former VP of the company testified that Warshak required customers to provide notarized documents from a doctor proving that they had small genitals in order to get a refund.

If customers complained, he said, employees were instructed to "make it as difficult as possible" for them to get their money back. In some cases, Teegarden said, Warshak required customers to produce a notarized statement from a doctor certifying Enzyte did not work.

"He said it was extremely unlikely someone would get anything notarized saying they had a small penis," Teegarden said.

The judge had strong words for Warshak:

"This is a case about greed," Spiegel said as he reviewed the case. "Steven Warshak preyed on perceived sexual inadequacies of customers."

Warshak's 75-year-old mother was also sentenced to jail time, but it's unlikely that she will serve it because she's 75 and has cancer. Meanwhile, Warshak has 30 days to report to prison.

Ohio company owner gets 25 years in fraud case [Associated Press]


 
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