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Peter Madoff pleads guilty in NYC, blames brother

June 30, 2012 • BusinessComments Off

Peter Madoff leaves Federal Court on Friday, June 29, 2012 in New York after pleading guilty to criminal charges. Peter Madoff, the younger brother and business partner of disgraced financier Bernard Madoff pleaded guilty Friday to charges he doctored documents, but insisted he knew nothing about his brother’s historic Ponzi scheme. Madoff, 66,...

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NJ company buys 60-year-old Salem power plant

June 30, 2012 • BusinessComments Off

FILE – This Dec. 16, 2011 file photo shows Dominion’s Salem Harbor Power Station along the waterfront in Salem, Mass. New Jersey-based power company Footprint Power LLC on Friday, June 29, 2012 announced it acquired the 61-year-old coal- and...

Iconic Atari turns 40, tries to stay relevant

June 30, 2012 • BusinessComments Off

FILE- In this June 5, 1984, file photo, a woman in Chicago demonstrates Atari’s new game, Mind Link, which utilizes a headband that picks up electrical impulse from the movement of the forehead and transmits them to a receiver attached to a video game...

New California budget crafted to influence voters

June 29, 2012 • BusinessComments Off

Senate President Pro Tem Darrell Steinberg, D-Sacramento, discusses a bill on health care at the Capitol in Sacramento, Calif. Wednesday, June 27, 2012. The Legislature approved 21 budget implementing bills to deal with a $15.7 billion budget deficit. (AP...

Oracle's Ellison closes deal to buy Hawaii's Lanai

June 29, 2012 • BusinessComments Off

FILE – In this Nov. 18, 2008 file photo courtesy of the The Lanai Times, a brush fire burns on the island of Lanai, Hawaii. Oracle Corp. CEO Larry Ellison has reached a deal to buy 98 percent of the island of Lanai from its current owner, Hawaii Gov....

News Corp. approves Murdoch plan to split company

June 29, 2012 • BusinessComments Off

FILE- This combination of Associated Press file photos show a Fox Sports logo, left, and a person holding a copy of a Wall Street Journal, right. Rupert Murdoch’s News Corp. said Thursday, June 28, 2012, that it plans to split into two separate...

Nike 4Q net income falls on high costs

June 29, 2012 • BusinessComments Off

In this Monday, March 19, 2012, photo, Nike shoes are displayed at Modell’s Sporting Goods, Monday, March 19, 2012, in Philadelphia. Nike says its fourth-quarter net income fell 8 percent as restructuring charges and higher raw material costs offset...

RIM to cut 5,000 jobs, delay new phones

June 29, 2012 • BusinessComments Off

In this Monday January 23, 2012, photo, an unidentified person walks past part of the Research in Motion (RIM) campus in Waterloo, Ontario. Struggling BlackBerry maker Research in Motion Ltd. revealed Thursday, June 28, 2012, that its business is crumbling...

With plea, Madoff's brother will enter spotlight

June 29, 2012 • BusinessComments Off

FILE – In this April 3, 2009 file photo, Peter Madoff, brother of Bernard Madoff, attends his court hearing before judge Stephen Bucaria at Mineola State Supreme Court, in Mineola, N.Y. Madoff will plead guilty on Friday, June 29, 2012, to conspiracy...

Tepid economic growth weighs on US job market

June 29, 2012 • BusinessComments Off

FILE – In this Feb. 28, 2012 file photo, workmen prepare the Valley Forge Casino Resort for its upcoming opening, in Valley Forge, Pa. The Commerce Department reported on Thursday, June 28, 2012, that the U.S. economy expanded at a 1.9 percent annual...