12/23/2023 0 Comments Cnnmoney com doitnow![]() ![]() ![]() As the MVF site says: "PLEASE DO NOT DELAY STARTING THE PROCESS. No, seriously, do it now – you won't be able to after February 28. The Madoff Victim Fund is already open for business, so submit your claims now. His brother, Peter, was sentenced to 10 years in jail in December. Madoff is currently serving a 150-year prison sentence. Together, it still amounts to $5.6 billion less than Madoff's scheme took in, but it's better than zero. This is on top of a separate $9.5 billion fund set aside for direct investors/victims. Breeden, the "special master" (yes, that's his official title ) in charge of distributing the money, told The Times that a good 85 percent of Madoff's victims were third-party investors. ( The New York Times says the number could be "many times that.") I t also means that the vast majority of people who lost money in Madoff's scheme may now get at least some of it back. CNNMoney reports that's over 10,000 people who may now be eligible for compensation. Complete financial stock market coverage with breaking news, analysis, stock quotes, before & after hours market data, research and earnings for stocks on the Dow Jones Industrial Average, Nasdaq. people who invested in firms that invested in Madoff. Today, his indirect victims became eligible for compensation.Ī $2.35 billion fund has been set aside for third-party investors who lost money through the scheme, i.e. It's been almost five years since Bernie Madoff was arrested and the world found out he'd been running a multi-billion-dollar Ponzi scheme for decades. When you call yourself CNNMoney, it says you’re focused on the way businesses make money as opposed to the larger cultural consequences of being in business.This article is from the archive of our partner. CNN Business reflects their view of the world. “I give them credit for saying their name means something. “CNNMoney is limited,” said Barry Lowenthal, CEO of The Media Kitchen. CNNMoney reached 26.5 million unique visitors in August, seventh in the business news category behind sites like Yahoo-HuffPost Finance Network, CNBC and Bloomberg, per comScore. Media buyers said the CNNMoney brand didn’t stand out from other business news publishers and that the shift away from that brand could help CNN define itself. ![]() “We’ve got to hone in on the audience and then the business models will evolve,” he said. Farkas said CNN Business won’t have a premium, consumer-paid model built in at launch, but over time the plan was to diversify the business model. To avoid this problem, you can buy long term care insurance. You can see how nursing home costs can quickly deplete a retirement plan. A quality nursing home can easily run 50,000 to 100,000 per year. We want to be a resource for them, but not in a newbie sense.”īeyond ads, CNN is looking for other ways to make money as it along with other digital media companies have missed financial targets. The biggest reason that most people do not have enough money in retirement is medical costs. “We’re upscaling the coverage we used to do to distance ourselves from the Money magazine brand. “We want to do less entry-level, personal finance coverage,” said Farkas. We choose to do it now this next one next one as you got to learn how to eventually make the sales call now Ryan the. CNN Business still wants to be taken seriously when it comes to breaking news, since that’s such a big part of CNN’s identity, so market news will be live-streamed and live-blogged, but certain political-related economics stories will be handed off to the news desk, Farkas said.Īs for the bread-and-butter content CNNMoney used to deliver, CNN Business is aiming at a more upscale audience now. There will be an opinion section with pieces by Facebook’s Sheryl Sandberg and Melinda Gates and a deep dive into how Amazon works, for instance. (The app still exists but is just an automated feed.) To fuel the new site, CNN Business is hiring six to eight people to staff a new San Francisco bureau, its biggest outside of New York City, for a total of about 70 editorial staffers, including 30 covering media and tech.ĬNN Business will have several new verticals and franchises to showcase big names in tech and business. Casualties including the Snapchat and VR teams and the CNN MoneyStream app that delivered personalized business news. CNN staffed up with 200 new digital hires in the past couple of years but then laid off a few dozen this year.
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