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Keyword: networth

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  • Median Family Net Worth Under 1989 Level: Debt-to-Money Worst Since 62

    01/09/2018 8:07:13 AM PST · by SeekAndFind · 33 replies
    Mish Talk : Global Economic Trend Analysis ^ | 01/09/2018 | by Mike Mish Shedlock
    As the stock market soars to new highs, here's some sobering statistics to consider. The stock market is at an all-time high but Americans Owe More, Save Less, and are Poorer Than in Decades. Negative Wealth Percentage On the Rise Net Worth Going Nowhere Sobering Stats A greater share of Americans have more debt than money in the bank than at any point since 1962, according to Deutsche Bank economist Torsten Slok.30.4% of US families have negative net worth despite the recovery in housing and the stock market.Median net worth is below where it was in 1989. But perhaps the...
  • U.S. Household Net Worth Reached Record $90.2 Trillion in Third Quarter

    12/09/2016 5:23:58 AM PST · by expat_panama · 24 replies
    Wall Street Journal ^ | Dec. 8, 2016 12:00 p.m. ET | Josh Zumbrun
    Stock wealth climbed by $494 billion and housing by $554 billion The wealth of U.S. households climbed to a record $90.2 trillion in the third quarter, driven by a powerful buildup in both real estate and stocks. Stockholdingsóboth directly and through retirement accounts like 401(k)sóclimbed by $494 billion last quarter while real estate, which is primarily peopleís homes, rose in value by $554 billion, according to a Federal Reserve report released Thursday. The report shows that U.S....
  • Walgreen's $140 Million Lawsuit Shows Theranos Is Way Worse Than We Thought

    11/23/2016 11:10:50 PM PST · by CorporateStepsister · 15 replies
    Thrill List ^ | 11/23/2016, 2:58 PM | By Christina Stiehl
    <p>Theranos, the biotech company started by a 19-year-old Stanford dropout, has another hurdle to cross in its whole "we're totally a legit blood-testing company" campaign. This time, it turns out that tens of thousands of blood tests were voided, making them totally invalid. Whoops!</p>
  • Theranos's Insane Campaign To Punish Whistleblower, Who Happened To Be Famous Boardmember's Grandson

    11/21/2016 7:48:00 PM PST · by CorporateStepsister · 40 replies
    TechDirt ^ | Mon, Nov 21st 2016 5:13pm | by Mike Masnick
    We haven't really written much about the insane Theranos scandal, though we discussed it on our podcast. The whole story is pretty crazy -- involving a heavily hyped up company that appeared to basically be flat out lying to everyone about what it could do. The company still exists, but barely. The company's founder and CEO, who was plastered across magazine covers and compared frequently to Steve Jobs, has been banned from running a lab for two years, and the company is now facing a $140 million lawsuit from its biggest partner, Walgreens, who claims that Theranos repeatedly lied to...
  • Theranos and David Boies Cut Legal Ties

    11/19/2016 12:07:29 AM PST · by CorporateStepsister · 13 replies
    The Wall Street Journal ^ | Nov. 18, 2016 7:12 p.m. ET | By John Carreyrou
    Litigator David Boies and the law firm he founded, Boies, Schiller & Flexner LLP, have stopped doing legal work for Theranos Inc. after disagreeing about the strategy for handling ongoing government investigations of the blood-testing company, according to people familiar with the matter. Mr. Boies, 75 years old, has been one of the countryís best-known litigators since the late 1990s. He became Theranosís outside counsel after being approached in 2011 by two investors in the Palo Alto, Calif., startup. He fiercely defended Theranos against questions about its technology and operations. Those efforts included threatening to take legal action against The...
  • Theranos and David Boies Cut Legal Ties

    11/18/2016 11:53:04 PM PST · by CorporateStepsister · 7 replies
    Wall Street Journal ^ | Nov. 18, 2016 7:12 p.m. ET | By John Carreyrou
    Litigator David Boies and the law firm he founded, Boies, Schiller & Flexner LLP, have stopped doing legal work for Theranos Inc. after disagreeing about the strategy for handling ongoing government investigations of the blood-testing company, according to people familiar with the matter. Mr. Boies, 75 years old, has been one of the countryís best-known litigators since the late 1990s. He became Theranosís outside counsel after being approached in 2011 by two investors in the Palo Alto, Calif., startup. He fiercely defended Theranos against questions about its technology and operations. Those efforts included threatening to take legal action against The...
  • Why is Elizabeth Holmes still leading Theranos?

    11/18/2016 11:38:20 PM PST · by CorporateStepsister · 25 replies
    San Francisco Business Times ^ | Nov 18, 2016, 1:40pm PST | Ron Leuty Reporter San Francisco Business Times
    It's worth asking why Elizabeth Holmes is still leading the embattled blood testing company Theranos Inc. But there may be a good reason why she still is in charge, one that has little to do with the scandal-ridden company's performance to date. Forget what venture capitalist Tim Draper ó one of the first to invest in the Palo Alto company ó implied this week that Holmes is being attacked because she's a young, female entrepreneur. The simple fact is that Theranos has not been able to deliver on its technology from a commercial, scientific or regulatory standpoint, and that falls...
  • Theranos Whistleblower Tells All On Intimidation And Coercion Tactics Employed To Silence Him

    11/18/2016 12:05:55 AM PST · by CorporateStepsister · 26 replies
    Zero Hedge ^ | Nov 17, 2016 7:20 PM | by Tyler Durden
    2016 has not been too kind to Elizabeth Holmes, the Steve-Jobs wannabe in charge of fraudulent Theranos. She has thus far been banned for 2 years from operating labs, removed from hosting fundraisers for Hillary and lost her entire net worth. And now, the Wall Street Journal has published the "tell-all" story of the whistle-blower, 26 year old Tyler Shultz, who brought the the whole Theranos farce crashing down. It's a sordid tale complete with all the expected twists and turns of a Jason Bourne thriller including intimidation, coercion and private detectives. Tyler Shultz is the grandson of George Shultz,...
  • Theranos founder's net worth goes from $4.5 BILLION to nothing amid fraud claims

    06/01/2016 11:50:25 AM PDT · by CorporateStepsister · 30 replies
    Daily Mail ^ | 1 June 2016 | Regina F. Graham For
    Last year she was on top of the world, but now Elizabeth Holmes has a net worth of zero. Holmes, who is the founder of blood-testing company Theranos, was at the top of Forbes' list of the richest self-made women in America with a net worth of $4.5billion last year. However, Forbes has lowered their estimate of her net worth to nothing, amid allegations that the blood-testing company she founded in 2003 has inaccurate tests and is being investigated by federal agencies. Theranos Inc was sued on Thursday, accused of endangering customer health through 'massive failures' that misrepresented the accuracy...
  • VA Seeks To Remove Net Worth Reporting For Healthcare Benefits

    10/20/2015 5:09:27 PM PDT · by Bob · 9 replies
    Military dot com ^ | Oct 19, 2015 | Jim Absher
    The VA has proposed removing the net worth reporting requirement for veterans seeking VA healthcare. In a proposal scheduled to be filed in the Federal Register on October 20, the VA seeks to make permanent its temporary practice of not requiring a veteran to submit a net-worth statement when they apply for healthcare. The VA will also no longer require annual net-worth statements from veterans who are currently enrolled in its healthcare programs. ... The VA now seeks to remove any wording in the law related to its collection of net-worth data to prevent any confusion and make it permanently...
  • Meanwhile... the Economy Is Tanking

    10/15/2015 4:38:00 PM PDT · by Kaslin · 5 replies
    Rush ^ | October 15, 2015 | Rush Limbaugh
    RUSH: You know, there's unemployment news today. And I want to it read this to you. This is from the Zero Hedge website, which we quote frequently on this program. The headline: "Initial Jobless Claims Plunge to 42-Year Lows, Despite Surging Job Cuts." Now, that doesn't make any sense. The number of people filing unemployment claims is at a 42-year low? Sorry. No, there has to be something else to make that true. That just can't be. Then the second part of headline: "despite surging job cuts," meaning layoffs are happening all over this country. People are losing their jobs...
  • How Much Are the 2016 Candidates Worth? Check Out the Numbers...

    10/12/2015 12:13:12 PM PDT · by SeekAndFind · 3 replies
    Fox News ^ | 10/12/2015
    Forbes put together the definitive wealth list of the candidates, compiling the net worth estimates of the top 20 Republican and Democratic contenders. Forbes used a variety of documents, including financial disclosures with the Federal Election Commission, property records, mortgage papers and tax records. Obviously, billionaire Donald Trump took first place. But how did the others stack up? Check out Forbes' full rankings below: 1. Donald Trump $4.5 bil Richest candidate by a long shot is the GOP front-runner. 2. Carly Fiorina $58 mil Former HP CEO has over 1,000 investments. 3. Hillary Clinton $45 mil Half of power couple;...
  • Bloomberg: Donald Trump is overstating his wealth by more than $7 billion

    07/28/2015 7:20:44 AM PDT · by SeekAndFind · 52 replies
    Business Insider ^ | 07/28/2015 | Colin Campbell
    Real-estate magnate Donald Trump frequently touts his wealth on the presidential campaign trail. But a new report essentially accuses the GOP candidate of overstating his net worth by billions of dollars.Bloomberg reporters Caleb Melby and Richard Rubin, citing an analysis by the Bloomberg Billionaires Index, reported Thursday that Trump was actually worth about $2.9 billion.That's more than $7 billion less than Trump has said.In a statement earlier this month, Trump's campaign wrote that the real-estate developer and television personality has seen his net worth rocket upward even in just the past year."Real-estate values in New York City, San Francisco, Miami,...
  • We finally know a lot more about Donald Trump's 'massive' net worth

    07/25/2015 7:23:04 AM PDT · by SeekAndFind · 11 replies
    Business Insider ^ | 07/25/2015 | Brett LoGiurato
    The world learned much about real-estate mogul Donald Trump's wealth this week, as the Federal Election Commission released a 92-page personal-financial-disclosure report filed by the Republican presidential candidate as part of his nascent campaign. Trump's campaign released a statement on July 15, when he filed disclosure with the FEC, saying it would reveal a "massive" net worth "in excess of TEN BILLION DOLLARS." The report still does not completely detail Trump's fortune, as it deals mostly with ranges. "For instance, they have boxes once a certain number is reached that simply state $50 million or more. Many of these boxes...
  • U.S. household net worth increases to $84.9 trillion

    06/12/2015 7:04:13 AM PDT · by SeekAndFind · 14 replies
    Reuters ^ | 06/12/2015
    The net worth of U.S. households rose in the first quarter due to the rising value of homes and investments, a positive sign for the outlook for consumer spending. The increase added $1.6 trillion to the total wealth of American families, putting it at a new record high of $84.9 trillion, a report by the Federal Reserve showed on Thursday. While the economy and consumer spending was sluggish in much of the first quarter, the data suggests U.S. households are on a better financial footing and consumers may open their wallets more. Many economists believe that consumers spend a few...
  • Average US Household Wealth Plunges to Only $656,039!! Details: Jan. 11 Investment & Finance Thread

    01/11/2015 10:06:38 AM PST · by expat_panama · 125 replies
    Weekly investment & finance thread ^ | Jan. 11, 2015 | Freeper Investors
              Average U.S.      Household Wealth             Real Estate $186,702     Durables $44,374     Deposits $81,497     Stocks/Business $422,126     Bonds $27,139     Misc. $7,598       ____________     Total Assets $769,435             Debts -$113,397       _____________     Net Worth $656,039           Something that snuck by me (and most people) last month was the Fed's quarterly Flow of Funds Report --their bigass number-dump that says where all America's money has...
  • If The Clintons Are Worth 50 Million, Why Do They Get Nearly A Million A Year From The Taxpayers?

    06/25/2014 12:50:23 PM PDT · by SeekAndFind · 16 replies
    TEC ^ | 06/25/2014 | Michael Snyder
    Since leaving the White House, the Clintons have earned at least 100 million dollars and currently have a net worth of up to 50 million dollars. So why in the world do the taxpayers need to give Bill Clinton $944,000 to fund his extravagant lifestyle in 2014? If ordinary Americans truly understood how much money many former politicians are being handed every year they would go bananas. According to a Congressional Research Service report that was published earlier this year, the federal government has given a total of nearly 16 million dollars to Bill Clinton since 2001. Each one of...
  • Household Net Worth Soars To $74.8 Trillion In Q2 While Real Median Household Income Falls

    09/25/2013 12:47:57 PM PDT · by whitedog57 · 5 replies
    Confounded Interest ^ | 09/25/2013 | Anthony B. Sanders
    Household net worth rose to $74.8 trillion in the second quarter, helped by the stock market, housing market and government accounting. Household wealth in the U.S. increased from April through June, supported by gains in the stock and housing markets that are improving Americansí finances. Net worth for households and non-profit groups climbed by $1.34 trillion in the second quarter, or 1.8 percent from the previous three months, to $74.8 trillion, the Federal Reserve said today from Washington in its financial accounts report, previously known as the flow of funds survey. Here is a chart of household net worth since...
  • The Deadly Disgrace of Obama's Pro-Terrorist Lawyers

    10/12/2012 1:35:12 AM PDT · by Kaslin · 6 replies ^ | October 12, 2012 | Michelle Malik
    October 12 marks the 12th anniversary of the bombing of the USS Cole. The grim milestone comes as President Obama faces mounting questions about his administration's dereliction of duty during the murderous attack on our consulate in Benghazi, Libya. And it comes just a day after resurgent al-Qaida thugs pulled off the drive-by assassination of a top Yemeni security official who worked at the U.S. embassy in Sanaa. These are not "bumps in the road." These are gravesites on the blood-spattered path to surrender. Seventeen U.S. sailors died in the brutal suicide attack on the guided Navy missile destroyer as...
  • Study: American Households Hit 43-Year Low In Net Worth

    12/02/2012 10:28:58 AM PST · by george76 · 21 replies
    CBS DC ^ | November 30, 2012 | Edward N. Wolff
    The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969. According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole. According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars)...