When Mark Walter, the chief executive officer of Guggenheim Partners LLC, ran Chicago investment firm Liberty Hampshire Co., a junior associate asked in 1996 why he decided to accept money from outside investors.
Until April 2011, Patrick “Pete” Dodd, a former money manager at Liberty Life Insurance Co. in Greenville, South Carolina, invested customer premiums in what he calls a “squeaky clean” portfolio: bonds backed by state governments and blue chip corporations.
Basketball Hall of Fame member Magic Johnson and a group of investors that includes Guggenheim Partners Chief Executive Officer Mark Walter won the auction for the bankrupt Los Angeles Dodgers with a bid of more than $2 billion, doubling the previous record amount paid for a major U.S. professional sports franchise.
The U.S. Supreme Court bolstered Monsanto Co.’s ability to control the use of its genetically modified seeds, ruling that companies can block efforts to circumvent patents on self-replicating technologies.
Magic Johnson’s winning $2.3 billion offer for the Los Angeles Dodgers probably was fueled by what one sports economist called a “wild bidding process” that will unfold between Time Warner Cable Inc. and News Corp.’s Fox Sports for the Major League Baseball team’s broadcast rights.