August 12, 2015
What we’re reading this week.
I keep seeing articles about insider trading. Recently, in the Supreme Court’s ruling on Dirks they state that “Absent some personal gain, there has been no breach of duty to stockholders. And absent a breach by the insider, there is no derivative breach.” Which, I think, implies that as long as the insider doesn’t enjoy giving away secret, confidential information it’s ok.
That’s exactly what this guy is saying. The Ninth Circuit Court disagrees. There is a disturbing trend toward “we’ll know it when we see it” when it comes to defining insider trading.
Soulcycle filed its S-1, which is basically a pre-IPO filing. The company itself isn’t very interesting but they do make some odd assertions in the S-1 like “ANYONE can be an Athlete, a Legend, a Warrior, a Renegade or a Rockstar” and “the place people come, regardless of their age, athletic ability, size, shape, profession or personality, to connect with their best selves.”
This article from the NY Times is written in response to Hilary Clinton’s proposed capital gains tax increase on investments held less than 6 years and does a good job of poking holes in Mrs. Clinton’s plan but also examines some of the ways the investment landscape has changed just in the past 20 years as more investors buy equities through an intermediary (mutual funds).
“No More Free Cheese Sticks for Kraft Employees in Cost Crackdown.” That really says it all doesn’t it?
Meanwhile companies that aren’t Kraft try to increase retention and employee satisfaction by adding Google-like perks at the workplace.
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