Alternative energy depends more on financial tricks than simple engineering.
This small sliver of sunshine comes to us courtesy of our business guru, Dan Gross. --KPSun Bancorp, a small bank based in New Jersey, yesterday became one of the first banks to repay the TARP funds received from the Treasury department (the press release can be seen here).On January 9, the Treasury Department bought 89,310 of preferred stock form the bank for $1,000 each.
One company ideally suited not to prosper in the Obama era.
Apparently, 'legacy' derives from an ancient root meaning 'it wasn't my fault and I should still get a bonus this year.'
Why are hedge funds getting such a sweetheart deal?