The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across Texas this week.
The FBI arrested seven hedge fund analysts this week as part of an ongoing investigation of insider trading, and Dell appears to be caught in the middle.
The traders are accused of illegally obtaining financial information from a connection at the Round Rock-based computer maker in 2008 and using it to make trades worth nearly $62 million, Forbes reported. So far three of the traders have pleaded guilty in the scheme, which “is the largest identified by the U.S. to date to involve a single stock,” according to Bloomberg.
The Bottom Line: The FBI refers to its crackdown on Wall Street corruption as ‘Operation Perfect Hedge,’ which is more than just a cool nickname: More than sixty people have been arrested since the stings began four years ago.
Words With Foes
Technology companies across Texas this week joined the chorus of protests against the Stop Online Piracy Act ( SOPA) and the Protect Intellectual Property Act ( PIPA). The Texas Tribune discussed the issue with Lanham