New York Investigating $280 Million Loans To 4 Trump Manhattan Properties: Report

50 Famous Americans Who Were Boy Scouts

The organization known as Boy Scouts of America celebrated its 111th anniversary on Feb. 8, 2021. Any youth boy or girl in the country can join one of its five scouting programs: Cub Scouting, Venturing, Sea Scouting, Exploring, and now the Scouts BSA Program.

The Boy Scouts of America’s mission is helping to “prepare young people to make ethical and moral choices over their lifetimes” by instilling them with key values from an early age.

Many political leaders, businessmen, celebrities, and scientists were scouts in their early years. Five presidents — John F. Kennedy, Gerald Ford, Bill Clinton, George W. Bush, and Barack Obama — were Boy Scouts. (Here are 44 Republicans and 46 Democrats who have made a career out of serving in the House of Representatives.)

24/7 Wall St. reviewed media sources, including the Boy Scouts of America’s publication Scouting Magazine, to determine some of the most famous people who were Boy Scouts.

These are 50 famous people who were Boy Scouts.

13 Billionaires That Have Gone Broke

It is rare for a person who has reached the status of billionaire to ever lose it — but it is not unheard of.  Occasionally, however, someone who was at one time worth billions sees their net worth drop to near zero.

24/7 Wall St. researched reports of wealthy individuals who lost their fortune. We found at least  15 billionaires who have gone broke. 

Typically, the billionaires on this list lost their money either because of bad investments or criminal activity. Several are notorious scammers who raked in billions of dollars by lying to investors or cooking the books to make their business appear more successful. 

Other people on this list gained their billions through divorce but were not able to maintain their wealth, either because of bad investments or lavish spending.

The ultra wealthy can generally stay rich by diversifying their holdings to protect themselves from economic turmoil as well as hiring the top money managers that can help shield them  from recessions. Throughout the COVID-19 pandemic and resulting financial fallout, the net worth of America’s 614 billionaires grew by over $900 billion, collectively. These are the American billionaires that got richer during COVID.

Click here to see billionaires that have gone broke.

Karnataka's Yediyurappa says Tesla to set up electric car manufacturing unit: CNBC TV 18

FILE PHOTO: The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson

(Reuters) – Tesla Inc will set up an electric car manufacturing unit in the southern Indian state of Karnataka, CNBC TV 18 reported on Saturday, citing Karnataka chief minister B.S. Yediyurappa.

Last month the company incorporated Tesla Motors India and Energy Private Limited with its registered office in the southern city of Bengaluru, a hub for several global technology companies.

ONGC profit dives 67% to ₹1,378 cr. as oil, gas slide

Board approves 35% interim dividend

State-owned Oil and Natural Gas Corporation (ONGC) on Saturday reported over 67% fall in the December quarter net profit on the back of a drop in oil and gas prices.

Standalone net profit in October-December quarter at ₹1,378 crore was 67.4% lower than the net profit in the same quarter of the previous year, the company said in a statement here.

The company realised $43.9 on every barrel of crude oil it produced and sold in the third quarter of the current fiscal, down from $58.24 a barrel it had realised in the same period a year back.

Government-mandated gas price dropped to $1.79 per million British thermal unit from $3.23 per mmBtu rate it got in October-December 2019. Turnover was down 28% at ₹17,024 crore.

The company board, at its meeting, approved an interim dividend of 35%.

Vodafone Idea loss narrows to ₹4,532 cr., to raise ₹25,000 cr.

Gain from sale of stake in Indus Towers buffers bottom line

Debt-ridden Vodafone Idea on Saturday reported consolidated loss narowed to ₹4,532.1 crore in the third quarter, mainly on account of a one-time gain from stake sale in Indus Towers.

The telecom firm posted a loss of ₹6,438.8 crore in the year-earlier quarter.

Vodafone Idea Limited (VIL) sold 11.15% stake in Indus Towers on the completion of its merger with Bharti Infratel for ₹ ,760 crore and paid ₹2,400 crore to the merged entity as per its agreement during the reported quarter.

‘Subscriber retention’

“In the third quarter, we improved subscriber retention and operating performance, supported by Vi GIGAnet,” Vodafone Idea MD and CEO Ravinder Takkar said in a statement. “We remain focused on executing our strategy, and our cost optimisation plan remains on track to deliver the targeted savings,” he added.

Revenue from operations fell 1.7% to ₹10,894 crore, from ₹11,089.4 crore.

“The Board has approved fundraising to support our strategic intent and we are in active discussions with potential investors,” he said.

The board approved raising up to ₹25,000 crore through a mix of debt and equity, the company said.

New York Investigating $280 Million Loans To 4 Trump Manhattan Properties: Report

The Manhattan District Attorney’s Office is investigating some $280 million in loans over eight years to four Donald Trump properties in Manhattan, The Wall Street Journal reported Saturday.

The loans — to his flagship Trump Tower on Fifth Avenue, Trump International Hotel and Tower, Trump Plaza and a high-rise in the financial district at 40 Wall Street — were all made by subsidiaries of Ladder Capital Corp., a real-estate investment trust based in New York, according to the Journal. The son of the chief financial officer of the Trump Organization works at Ladder Capital, the newspaper reported.

Manhattan DA Cyrus Vance had earlier launched a larger probe into alleged discrepancies between insurance, tax and bank claims by the Trump Organization.

There were no other details about the latest probe, but the Journal speculated that the focus could be similar.

Vance has been battling to obtain Trump’s tax returns and other financial filings since 2019. Trump had argued that as a sitting president, he could not be investigated. But the Supreme Court ruled against him in July. Trump is appealing the decision on different grounds.

The Trump Organization refused to respond to the Journal’s requests for comment.

Read the entire story here