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RICO: It's Not Just for Mobsters Anymore
Plaintiff Attorney Stanley Chesley unveiled a new model in Toyota lawsuits: a Racketeering-Influenced Corrupt Organization (RICO) claim against four Toyota Motor Corp. (TM) units. The core claim is that the four divisions, acting as an organized enterprise, perpetrated a "scheme to sell dangerous and defective vehicles." RICO was passed in 1970 to destroy the mob. However, nowadays it's hardly ever used that way. Because of procedural hurdles created by the courts in the 1990s, RICO cases are hard to prove, though that doesn't stop them from being filed. Nonetheless, if a RICO suit is won, the impact is powerful: Plaintiffs can get treble damages, plus attorneys fees.

Continue reading Latest Legal News: The Newest Model Toyota Lawsuit Is RICO

Latest Legal News: The Newest Model Toyota Lawsuit Is RICO originally appeared on DailyFinance on Sat, 13 Feb 2010 20:01:00.

Filed Under: Company News, Columns

Back in October, the Blackstone Group's (BX) CEO, Stephen Schwarzman, declared that "at least for private equity, the worst is behind the industry" and indicated that his firm was poised to take eight companies public. This was certainly good news for his investors, who eventually want to see returns. But over the past week, the firm's IPO strategy crumbled as it was forced to cancel its $1.78 billion offering of Travelport and postpone its IPO of Merlin Entertainments.

Continue reading What's Behind Blackstone's Recent IPO Meltdown

What's Behind Blackstone's Recent IPO Meltdown originally appeared on DailyFinance on Sat, 13 Feb 2010 16:30:00.

Filed Under: Investing

This article discusses what all Toyota owners' should know about the Toyota recall lawsuit.

When it comes to finding the best airport food, restaurant heaven is often just a terminal away from food court hell. Travel Maze columnist Randy Diamond offers his best tips on upgrading your travel meal to a first-class dining experience.

Continue reading Travel Maze: Flying From Terminal Food Heaven to Terminal Food Hell

Travel Maze: Flying From Terminal Food Heaven to Terminal Food Hell originally appeared on DailyFinance on Sat, 13 Feb 2010 14:00:00.

Filed Under: Columns

Adam Haslett's new novel presents a sincere attempt to correct literature's cowardly refusal to attack the capital markets and income inequality. But while the author has meticulously researched his subject, he doesn't know Wall Street firsthand.

Continue reading Books@DailyFinance: 'Union Atlantic,' a Novel of the Financial Crisis

Books@DailyFinance: 'Union Atlantic,' a Novel of the Financial Crisis originally appeared on DailyFinance on Sat, 13 Feb 2010 12:00:00.

Filed Under: Columns, Books

During the week ahead on Wall Street, several big names will be in focus on the earnings front, including retail powerhouse Walmart, which is expected to report fourth-quarter earnings of $1.12 per share. Other reports to watch include department store operator J.C. Penney and tech titan Hewlett-Packard.

Continue reading The Week Ahead on Wall Street: Walmart Earnings in Focus

The Week Ahead on Wall Street: Walmart Earnings in Focus originally appeared on DailyFinance on Sat, 13 Feb 2010 10:00:00.

Filed Under: Company News, Earnings, Hewlett-Packard, JC Penney, Wal-Mart Stores

Toyota (TM) has now recalled over nine million vehicles and the total seems to be rising. The latest news is that Toyota is recalling 8,000 2010 Toyota Tacomas to inspect their front drive-shaft which could contain a cracked part that could get even worse when customers drive the truck. When joined with the sudden acceleration problems and flawed breaking systems of various other Toyota models, it seems likely that Toyota has lost its way. The reason? Toyota abandoned the Toyota Way in its quest for growth.

Continue reading How Recall-Plagued Toyota Lost Its Way

How Recall-Plagued Toyota Lost Its Way originally appeared on DailyFinance on Sat, 13 Feb 2010 09:30:00.

Filed Under: Company News, Columns, Toyota, Autos

As headlines about a debt storm in Greece and blizzards along the East Coast dominated headlines this week, some pretty good economic news managed to slip under the radar. While we're certainly not out of the woods yet, here's what we have to look forward to in 2010.

Continue reading Economists Say U.S. Expansion Nearing Self-Sustaining Status

Economists Say U.S. Expansion Nearing Self-Sustaining Status originally appeared on DailyFinance on Sat, 13 Feb 2010 09:10:00.

Filed Under: Economy

Xanadu, the gargantuan New Jersey entertainment and retail complex, could be toast. Less than a year ago, analysts were arguing that the project was "too big to fail," but the state of New Jersey may be considering a move to seize the land as the developer struggles to find new financiers.

Continue reading Xanadu: Largest Ever U.S. Mall Complex May Never Open

Xanadu: Largest Ever U.S. Mall Complex May Never Open originally appeared on DailyFinance on Sat, 13 Feb 2010 09:00:00.

Filed Under: Company News, Economy, Media, Real Estate

After decades in investing, the philosophy of Vanguard Funds Founder John C. Bogle hasn't changed: The stock market is a game that investors cannot win. The champion of indexing says buying every stock on an index to reduce volatility is the only surefire way to succeed.

Continue reading Vanguard Founder John Bogle Sees No Good Alternatives to Indexing

Vanguard Founder John Bogle Sees No Good Alternatives to Indexing originally appeared on DailyFinance on Sat, 13 Feb 2010 09:00:00.

Filed Under: People, Investing