Tag Archives: finance

Elvis’ Money Has Left the Building

All shook up

If Lisa Marie Presley gets what she wants, her former business manager will be dancing to the jailhouse rock. The daughter of music & American icon Elvis Presley is suing Barry Siegel for allegedly squandering away the Presley family’s hundred million dollar fortune. The lawsuit, filed in California, states that the Provident Financial Management and specifically Siegel “enriched himself with exorbitant fees”. The business manager then turned around and counter-sued for $800,000 and claims that Lisa Marie has extravagant taste and poor spending habits. Reports claim that the Presley fortune, once worth over $100m USD, is now down to around $15,000. A main recommendation from Siegel to Lisa Marie was an investment in the financial firm behind American Idol, an investment that eventually went bankrupt and turned about $25m in stock to about $500k almost overnight. Read More

Blacklisted? Investors Rally Against Blackberry

Sweet or sour?

Blackberry’s tough times continue as their shareholders cry foul.  In a recent class-action lawsuit, thousands of investors claim that they were misled by the company’s lofty sales expectations.  Many are complaining that the company failed to compete with industry leaders Google and Apple (let alone Microsoft). The lawsuit includes a number of those who bought stock in Blackberry over the past calendar year.  Unhappy campers are furious that they mistakenly placed their faith in the wrong smartphone/technology movement and are seeking damages.  Read more