Double Bets Are On MGM Optimism for Las Vegas rebound takes root as traders look to MGM for profits.
As MGM expands its casino and gaming complex, investors seek to purchase stock at twice it’s current value, Bloomberg reports. MGM, which opened its new $8.5 billion resort, City Center, on Dec. 1, is hoping the move will help reduce a debt load of $13 billion.
It is expected that travel to Las Vegas will increase by 7 percent in 2010, thus building optimism for creating profits. Joshua Belanger, founder of OptionSizzle.com, claims it’s a long shot. “But”, he says, “given how much these names can move, it could give them some bang for their buck.”
Written by Jeff Kearns; Edited by Bill Sorensen
Next hot job? Keeping tabs on financial firms
Report: Accountants, compliance officers to benefit from complex new rules
WASHINGTON – People who knew how to make a quick buck held some of the fastest-growing jobs two years ago. Now, the growth industry is in helping financial firms figure out how to follow the rules.
Google Is in Talks to Buy Yelp
SAN FRANCISCO — In a sign that Google is interested in broadening its reach among local businesses, the search giant is in acquisition talks with Yelp the review site for local businesses, according to three people with knowledge of the deal.
What the S.E.C. Gains From the Financial Bill
The House passed an extensive financial regulation bill last week that would significantly increase federal oversight of financial companies and the markets. Unlike the previous push for deregulation and curbs on private litigation, this legislation expands the government’s role in controlling markets for new securities and limiting the types of systemic risks that set off the financial meltdown in 2008.
Jeffrey Gundlach to launch new investment firm
The star bond fund manager fired by L.A. money manager TCW Group this month will partner with Oaktree Capital Management, a group of former TCW executives. By Tom Petruno
Ousted by Los Angles financial giant TCW Group, star bond fund manager Jeffrey Gundlach on Monday turned to a firm whose executives had their own bitter breakup with TCW nearly 15 years ago.