In Houston Tuesday, a federal jury convicted Texas financier R. Allen Stanford of running a massive Ponzi scheme. Jurors agreed with prosecutors, who claimed he ran a global scheme that lasted more than 20 years and involved more than $7 billion in investments.
When Lehman Brothers collapsed in 2008, it was the largest bankruptcy in U.S. history. More than three years later, Lehman is emerging from Chapter 11. The firm is really just back in business to liquidate itself. Lehman has about $65 billion in assets that it intends to distribute among its many creditors starting next month.
Dunkin Donuts is aiming to nearly double its outlets in China. To help meet its goal, the donut chain has come up with pork donuts. The company even recruited NBA star LeBron James to pitch the new treats to Chinese consumers.
Tina Brown, editor of The Daily Beast and Newsweek, tells us what she's been reading in a feature that Morning Edition likes to call "Word of Mouth." This month, Brown selects two pieces of writing profiling individuals at the center of political change in their respective countries.
Nearly four years ago, the bank collapsed in the biggest bankruptcy in U.S. history — a record $639 billion. That set off a chain reaction and sent the economy spiraling. Lehman Bros. says now, it will continue to liquidate its holdings, and will start paying back creditors next month.
Rebekah Speight spotted the familiar profile on a McNugget left on her child's plate. After stashing it in the freezer for three years, she auctioned it off on eBay. Her church's summer camp will benefit from the winning $8,000 bid.
Navy Secretary Ray Mabus says he wants personnel to adapt to the 21 century. He announced the Navy will give sailors breathalyzer tests and drug tests before they report to duty on a ship. The Marines will adapt a similar program next month.