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  Wednesday, 2 Mar 2011 | 11:22 AM ET

Will Rajat Gupta Destroy McKinsey?

Posted By: John Carney
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

McKinsey & Co is reeling from the revelation that the Securities and Exchange Commission believes one of its most high-flying alumni gave corporate secrets to a hedge fund manager who is now accused of being at the center of a large and complex insider trading scheme.

For a firm that thrives on its reputation, proximity to misdeeds of this sort could be fatal, according to former McKinsey consultants who spoke on the condition of anonymity.

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  Wednesday, 2 Mar 2011 | 10:53 AM ET

Drink the Recession Away? Bottoms Not Up!

Posted By: Nicole Lapin
Jack Andersen | FoodPix | Getty Images

So, during tough economic times, you'd think people drink their sorrows away. Apparently not so much. I was surprised to find that US beer sales were down an estimated 2.7 percent by volume for the first half of 2010.

So who's winning? The craft, microbrews, like the newly-public Kona Brewing . The CEO rolled on set this morning in flipflops and a Hawaiian shirt, straight off the plane from paradise. \(Seriously, he gets paid to drink beer and live in Hawaii—tough life but someone's gotta do it.\)

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  Wednesday, 2 Mar 2011 | 10:11 AM ET

China Still US's Largest Creditor, Probably

Posted By: Ash Bennington
Flag of the People's Republic of China
Eriko Koga | The Image Bank | Getty Images
Flag of the People's Republic of China

Earlier this week the U.S. Treasury released its Preliminary Report on Foreign Holdings of U.S. Securities.

This report contains the preliminary revised annual numbers from the Department of Treasury.

As Cardiff Garcia at the Financial Times Alphaville explains , these revised annual reports are generally thought to be more accurate than the monthly Treasury International Capital System \(TIC\) data.

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  Wednesday, 2 Mar 2011 | 9:31 AM ET

Steve Forbes Knows Who Runs Goldman

Posted By: Nicole Lapin
Steve Forbes
Tomas Hudcovic | isifa | Getty Images
Steve Forbes

"Goldman knows, even though it's a mighty company, it survives at the sufferance of the U.S. government," Steve Forbes said as my guest host on the show this morning.

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  Wednesday, 2 Mar 2011 | 9:01 AM ET

Buffett Says He Has an 'Itchy Trigger Finger' for Big Deals

Posted By: Julia La Roche

Buffett Says He Has an 'Itchy Trigger Finger' for Big Deals [CNBC.com]

"Apple Set to Unveil New iPad, With or Without Jobs" [Reuters via CNBC.com]

Will There be a Tablet Price War? [WSJ]

A batch of economic data this morning includes ADP National Employment Report [CNBC.com]and mortgage applications [Reuters via CNBC.com]

"It's a Mad, Mad, Mad, Mad-Off World" [CNBC's Jane Wells]

Whoa! Check out these overflowing water bills that cost as much as a mortgage payment [CNN]

»Read more
  Wednesday, 2 Mar 2011 | 8:41 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin

If Steve-o Forbes can hang out with me for an hour from 5-6 in the morning, you can give me 5 seconds to skim the Cliffs Notes version of my show:

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  Tuesday, 1 Mar 2011 | 5:00 PM ET

Rajat Gupta: Bigger Than Madoff?

Posted By: John Carney
Rajat Gupta
Getty Images
Rajat Gupta

Rajat Gupta may be the most important businessman ever charged with a serious violation of securities laws.

The standard defendants in insider trading cases are low-level employees of corporations or Wall Street firms. Only very occasionally does anyone who has risen to the height of a Raj Rajaratnam—the founder of Galleon, and alleged co-conspirator of Gupta—get charged with serious violations.

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  Tuesday, 1 Mar 2011 | 4:28 PM ET

SEC Examines Hedge Fund' Side Pocket' Accounts

Posted By: Ash Bennington
  Tuesday, 1 Mar 2011 | 4:11 PM ET

Is Rajat Gupta a Lunatic, Logo, or Luckless Innocent?

Posted By: Ash Bennington
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

Rajat Gupta, the business titan charged today with insider-trading by the SEC, was at the center of Wall Street—and the crimes he has been accused of committing allegedly occurred at the very heart of Wall Street as well.

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  Tuesday, 1 Mar 2011 | 3:28 PM ET

Small Business Indicator: Labor Market Continues to Be Soft 

Posted By: Lori Ann LaRocco

Any time I speak with my contacts about jobs it always goes back to the small businessman. Being the driver of jobs, the health of small business is key to a growing U.S. economy.

Today Intuit released its monthly Small Business Employment Index which aggregates online employment data from approximately 60,000 small business employers that have less than 20 employees. I asked Susan Woodward, the economist who worked with Intuit to create the index on this month's highlights.

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About NetNet

  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

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