The worst-performing part of the municipal market is drawing buyers as bankrupt Stockton, California’s attempt to stick investors with a loss heightens the appeal of debt backed by revenue from services such as water and electricity.
At No. 8 last night, Dave Matthews, the musician, talked about walking around New York with his iPhone, filming artist Beezy Bailey in a fat suit. The resulting film and 28 silkscreens go on view tonight at Robert Miller Gallery in a show of their collaboration.
California heads to Wall Street this week to borrow for the first time since the most-populous U.S. state earned a credit-rating boost in January, as buyers push its debt close to the strongest in more than four years.
California’s first credit upgrade in six years shows how curbs on pension costs, a voter-backed tax boost and an improving economy have allowed it to exit Wall Street’s basement, leaving Illinois as the lowest-rated state.
Robert L. Miller, who once worked as a lawyer with the U.S. Securities and Exchange Commission, was sentenced to two years’ probation for helping New York law firm founder Marc Dreier defraud hedge funds.
Texas Republicans, trying to push aside their legislative opponents, have targeted Democratic Senator Wendy Davis for defeat tomorrow and may wind up with a free hand to pursue objectives such as school vouchers.