Find more photos like this on Creating a new business
For more info please go to /publicitate”>

Visit Creating a new business

On the latest Forbes list of the 400 richest Americans, there are 30 CEOs of public corporations with a combined net worth of $215 billion. That’s $20 billion less than they had last year–a total loss of $1,000 every 1.6 seconds, or $633.78 per second. The CEOs’ losses average out to $790 million each last year.
Most of these men have their greenbacks tied up in the companies they founded. That’s where the biggest losers were hit the hardest.
The fortune of 77-year-old media tycoon and News Corp. founder Rupert Murdoch declined $2 billion to $6.8 billion. News Corp.’s stock price fell 34% over the last 12 months despite the robustness of the Fox brand and its purchase of Dow Jones, publisher of The Wall Street Journal. Murdoch lost $1,000 every 15.78 seconds, or $63.38 per second. That’s about $1.5 million an hour.
Warren Buffett, CEO of Berkshire Hathaway, which invested $5 billion in Goldman Sachs on Tuesday, suffered similar losses last year. Buffett’s net worth dropped $2 billion to $50 billion due to an 18% decline in the holding company’s share price since February. That’s also a loss of $1,000 every 15.78 seconds.
A less well-known CEO billionaire who lost big over the last year is DISH Network’s Charles Ergen. The 55-year-old lost $2.1 billion, bringing his net worth to $8.1 billion, due to a 25% decline in DISH’s share price. He lost $1,000 every 15.03 seconds, or $66.55 per second.
There were seven CEOs who grew their fortunes, including Ian Cumming, the CEO of Leucadia National, a holding company whose portfolio includes telecommunications and property management companies. His fortune edged up $100 million. Cumming, 67, and three other CEO billionaires each earned $1,000 every 5.25 minutes, or $3.17 per second. That includes Michael Dell, CEO of his namesake computer company, who has a net worth of $17.3 billion.
Meanwhile, the fortunes of some of the most well-known CEOs remained flat, including Apple’s Steve Jobs ($5.7 billion), Amazon.com’s Jeffrey Bezos ($8.7 billion) and Ralph Lauren ($4.7 billion) of Polo Ralph Lauren.

Troubled bank list
Detecting a Troubled Bank
By Catherine Rampell

Many readers wanted to hear our panelists’ thoughts about whether any given bank was in trouble. In response to a more general question about how consumers can identify for themselves if a bank or insurance company is sound, the bank consultant Bert Ely was somewhat discouraging:

Don’t try. Even bank regulators, who have access to non-public data about banks, don’t do a very good job of identifying troubled banks. If you have doubts about the safety of the deposits in your bank, move your funds around so as to ensure that your deposits are fully protected by F.D.I.C. deposit insurance in one or several banks.

One reader wrote in seeking suggestions for how to rectify this situation:

What can be done to increase the transparency of corporate risk-taking? What steps would have allowed investors and the public to know, for example, that A.I.G. management had bet their entire gigantic multi-faceted company on the performance of certain kinds of mortgage-related products? — Lyndon Comstock

Mr. Ely replies:

There already is extensive transparency for public companies, primarily through their filings with the Securities and Exchange Commission and with state insurance regulators. Attempts at trying to increase transparency may merely increase information overload and investor confusion. In my opinion, the rules of the game for business, notably the tax laws and regulations, need substantial revision so that they incent business managers to act in a manner which is simultaneously in their self-interest and the broad public interest. That is, there is a need to better align incentives so that a successful pursuit of self-interest at the same time adds to the general welfare.