In Fraud Case, a Deal That Lost Millions

In Fraud Case, a Deal That Lost Millions
Raj Rajaratnam, the authorities say, masterminded one of the biggest insider-trading schemes in a generation.
But if Mr. Rajaratnam was trading on insider information, apparently he was not very good at it.
A close examination of the trades that led to his arrest last week reveals a startling fact: In all, Mr. Rajaratnam lost millions from what prosecutors characterize as illegal trading.
One bad trade, in the shares of the chip maker Advanced Micro Devices, cost his hedge fund, the Galleon Group, $30 million. That loss more than wiped out the profits that prosecutors claim Mr. Rajaratnam and his accomplices reaped with their scheme.

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Don Hewitt's '60 Minutes' remains timeless and elegant

The newsmagazine has stuck to its sober approach even during this shrill era.

When it comes to reporting news, and even the less-urgent doings of the world, plainness is a virtue. The awfulness or delight of any truly awful or delightful story will speak for itself; complex issues do not benefit from screaming.
The stopwatch that ticks through the CBS television newsmagazine "60 Minutes" perfectly encapsulates the straightforward, unadorned approach that the program -- created by Don Hewitt, who died Wednesday at age 86 -- has maintained since it went on the air in 1968 (a year in which there was much screaming, from many sides).

This is just a slice of time out of the turning world, it says; and in form as well as content, "60 Minutes" stands in elegant relief against the network newsmagazines that followed in its wake, shows whose video-game graphics and summer-blockbuster music cues pummel the viewer into a state of fear or rage even before a word is spoken.

More Information visit: http://www.latimes.com/entertainment/news/la-et-hewitt20-2009aug20,0,3942679.story

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