Blog Posts by Daniel Gross

  • Twitter says #ThankYouEllenPao

    The jury has ruled against Ellen Pao in all four counts in her gender discrimination suit against Kleiner Perkins Caufield & Byers, meaning she’s entitled to no damages and Kleiner Perkins is off the hook.

    Twitter erupted shortly after the verdict was first announced, before we knew the jury would have to go back for further deliberations. 

    Read More »from Twitter says #ThankYouEllenPao
  • Nadal opens with emphatic win in Miami

    Second-seeded Rafael Nadal launched his bid for a first Miami Masters title with a 6-4, 6-2 victory over fellow Spaniard Nicolas Almagro.

    Nadal, who has four runner-up finishes in 10 prior appearances on the hardcourts of Miami, showed no signs of the training mishap which left him with a sore ankle and threatened to compromise his start.

    "I think I did the things well when I had to do. I played with no mistakes in the important points," said Nadal. "The wind was really high, it was very difficult to find a positive feeling on court.

    "I played a solid match. I played well, I had a good movement. I had some good winners, Almagro was not an easy opponent."

    Nadal said that his ankle is not fully healed, but is tolerable.

    "The day (he injured it, Monday) I had pain, But after two days I improved 50 percent and it stays the same. It's not limiting my movements."

    Nadal took 52 minutes to win the opening set, with the first four games taking 23 minutes. But his early

    Read More »from Nadal opens with emphatic win in Miami
  • CHARLOTTE, N.C., March 27, 2015 /PRNewswire/ -- Duke Energy today announced that the Federal Energy Regulatory Commission has approved the sale of its non-regulated Midwest Commercial Generation Business to Dynegy for $2.8 billion in cash.

    New Duke Energy logo.

    This approval is the last remaining condition to closing the transaction. The transaction is expected to close on April 2, 2015.

    The United States Department of Justice and the Federal Trade Commission granted early termination of the Hart-Scott-Rodino Act waiting period on Nov. 10, 2014.

    This transaction includes ownership interests in 11 power plants in Ohio, Illinois and Pennsylvania, with a capacity of approximately 6,100 megawatts, and Duke Energy Retail Sales, the company's competitive retail business in Ohio.

    Duke Energy
    Duke Energy is the largest electric power holding company in the United States with approximately $121 billion in total assets. Its regulated utility operations serve approximately 7.3 million electric customers located in

    Read More »from FERC approves the sale of Duke Energy's non-regulated Midwest generation business to Dynegy

    The Federal Energy Regulatory Commission (FERC) issued an order today authorizing Dynegy (DYN) subsidiaries to acquire the ownership interests in certain Ohio, Illinois, and Pennsylvania commercial generation assets and retail business from Duke Energy and EquiPower Resources Corp. and Brayton Point Holdings, LLC from Energy Capital Partners.

    With this authorization, the EquiPower and Brayton Point Holdings transactions are expected to close on Wednesday, April 1 and the Duke transaction is anticipated to close on Thursday, April 2.

    After closing the Duke Midwest transaction and the EquiPower and Brayton Point Holdings transactions, Dynegy Inc. will own and operate nearly 26,000 megawatts of fuel-diverse power generating facilities, primarily in the Midwest and Northeast. Dynegy will provide electricity to individuals, municipalities and

    Read More »from Dynegy Inc. Receives Final Approval to Acquire Duke Energy’s Midwest Commercial and Retail Business and Energy Capital Partners Asset Portfolios
    Dynegy Inc.
    Micah Hirschfield, 713-767-5800
    Andy Smith, 713-507-6466
  • Obama urges expansion of 'take child to work' day

    Obama asks employers to include foster, homeless, struggling kids in 'take child to work' day

    WASHINGTON (AP) -- President Barack Obama says the White House will open next month's annual Take Our Daughters and Sons to Work Day to children whose parents don't work in the building.

    He's also asking private businesses to include kids who are left out of the experience because they don't have a workplace to visit.

    Obama says in a video released Friday that aides are working with the Boys and Girls Club and the District of Columbia's Child and Family Services Agency to invite kids from Washington to join the children of White House staffers on April 23 to learn what it's like to work at the White House.

    A highlight of Take Our Daughters and Sons to Work Day under Obama has been a question-and-answer session with first lady Michelle Obama.

  • A Haitian man who forced a flight to be diverted after reacting angrily to a seat being reclined in front of him was ordered to pay more than $7,000 by a US court on Friday.

    The case was part of a series of three incidents dubbed the legroom wars, which unfolded over a nine-day period in August and September when passengers lost their temper over reclining seats, forcing US passenger planes to divert.

    Edmond Alexandre, 60, a resident of Paris, pleaded guilty to interference with flight crew members and was sentenced by a federal judge in Boston.

    Authorities said Alexandre became disruptive on his August 27 Miami-to-Paris American Airlines flight when a passenger in front of him reclined the seat.

    According to the court statement, Alexandre chased a crew member and grabbed the attendant's arm after the individual had tried to calm him.

    Federal air marshals subdued Alexandre while the plane was diverted to Boston's Logan Airport. It continued on to Paris four hours later without Alexandre.


    Read More »from Haitian sentenced to pay more than $7,000 over plane seat row
  • Audit: Maryland misallocated $28.4M for health exchange

    Federal audit finds Maryland misallocated $28.4 million for flawed health care exchange

    ANNAPOLIS, Md. (AP) -- Maryland misallocated $28.4 million in federal money for its flawed health care exchange and should pay the money back, according to a federal audit released Friday.

    The audit marked the first time the inspector general of the Department of Health and Human Services recommended that a state repay misallocated federal grant funds involving a health care exchange.

    The audit found that Maryland misallocated costs to federal grants instead of the Medicaid program in 2013 and 2014, failing to use updated estimated enrollment data when it became available.

    "The state agency misallocated these costs because it did not have adequate internal controls to ensure the proper allocation costs," the audit said.

    In a response included in the audit, the state said it believes it complied with guidance from the federal Centers for Medicare and Medicaid Services.


    Read More »from Audit: Maryland misallocated $28.4M for health exchange

    Whiting Petroleum Corporation (WLL) today announced that it completed its previously announced private unregistered offerings of $1.25 billion aggregate principal amount of 1.25% convertible senior notes due 2020 (the “convertible notes”) and $750 million aggregate principal amount of 6.25% senior notes due 2023 (the “senior notes”). The amount of convertible notes includes the sale of $250 million aggregate principal amount of convertible notes pursuant to the exercise of the initial purchasers’ option in full to purchase additional convertible notes.

    Whiting also announced by separate press release that it completed its previously announced registered public offering of 35,000,000 shares of its common stock for total net proceeds of approximately $1.0 billion, after deducting underwriter’s discounts and commissions.

    Whiting received

    Read More »from Whiting Petroleum Corporation Announces Completion of Offering of Convertible Senior Notes Due 2020 and Senior Notes Due 2023
    Whiting Petroleum Corporation
    John B. Kelso, 303-837-1661
    Director of Investor Relations

  • Don't Fall for the Head Fake in Chips

    Needham & Co. Given the 6% decline in The PHLX Semiconductor Sector Index over the past two days, we reached out to several of our contacts in the industry in order to “take its pulse.” Overall, we do not believe fundamentals have materially deteriorated since the fourth quarter, and we believe supply/dynamic trends remain favorable. While currency may present a headwind, in our view it’s premature to claim that it has led to demand destruction, which the recent selloff in shares seems to be indicating. Outside of PCs and China handsets, auto and industrial remain solid, while the Samsung [of South Korea]-Apple (AAPL) supply chains are robust. Moreover, the semiconductor industry should be better prepared for downturns in demand than in previous years due to lean inventory levels and better visibility related to consolidation across the supply chain. In addition, we expect merger and acquisition (M&A) activity to continue, placing a floor on

    Read More »from Don't Fall for the Head Fake in Chips
  • Aaron Kirman and Neyshia Go, Agents to the Wealthy and Famous, List $26M Bel-Air Compound

    New estate on four prime acres commands stunning reservoir and canyon views

    BEVERLY HILLS, Calif., March 27, 2015 /PRNewswire/ -- A classically inspired compound on nearly four prime view acres in Bel-Air has been listed by Aaron Kirman, President of Aaroe Estates, the luxury property division of John Aaroe Group, and Estates Agent Neyshia Go for $26 million. Sequestered behind gates off a private driveway, the property overlooks spectacular views of the canyon and Stone Canyon Reservoir.

    A classically inspired compound on nearly four prime view acres in Bel-Air has been listed by Aaron Kirman, President of Aaroe Estates, the luxury property division of John Aaroe Group, and Estates Agent Neyshia Go for $26 million.

    Newly constructed on a grand scale, the high-ceilinged baronial estate and large guest house total over 19,000 square feet. The colonnaded eight-bedroom, twelve-bath residence is lavished with luxurious materials and finishes throughout its three levels, from detailed artisan crown moldings, imported marbles and fine hardwoods to Corinthian columns, ornate chandeliers, and rare stone insets in baths and countertops. The separate guest house is a full-scale home, with master suite and second en suite bedroom.

    The estate features an array of indulgent entertaining spaces,

    Read More »from Aaron Kirman and Neyshia Go, Agents to the Wealthy and Famous, List $26M Bel-Air Compound


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