12 Stories

Steph Curry Just Made NBA History

Golden State Warriors star agrees to biggest contract ever in NBA

(Newser) - That'll buy a lot of fresh mouthguards . Business Insider reports Stephen Curry has agreed to the biggest contract in NBA history at $201 million over the next five years. The Golden State Warriors star becomes the first NBA player to earn a so-called "supermax" contract—one over $200... More »

Hollywood Contracts Cover Entire Universe

Locking up intergalactic rights is 'standard' procedure

(Newser) - If someone on Mars wants to broadcast America’s Got Talent, they’ll have to go through NBC first. Contestants on the show sign away the rights to their performances “in all media, throughout the universe,” and similar intergalactic language peppers most entertainment industry contracts. “I think... More »

Hollywood Trims Star Deals

It's curtains for deals that pay actors before studios recoup losses

(Newser) - In this economic climate, even Hollywood has become risk-averse, forcing actors to share in a film’s success or failure, the Wall Street Journal reports. “First-dollar gross” deals, which pay actors handsomely even when films flop, are out of favor. For years, top actors drew deals paying a percentage—... More »

Burris Ties to Blago Include Donations, Job for Wife

Senate aspirant no stranger to pay-to-play politics

(Newser) - Senate Democrats are lauding Roland Burris as a faithful public servant who happens to owe his appointment to a crooked governor, but the Illinois politician has some pretty close—perhaps suspect—ties to Blagojevich, the Chicago Tribune reports. Burris and affiliates in his lobbying firm contributed $20,000 to Blagojevich... More »

Sloppy Lehman Bankruptcy Killed Billions in Value

Speedy process leaves creditors hanging

(Newser) - Had Lehman Brothers been more careful in its bankruptcy filing, it could have held on to as much as $75 billion that was destroyed in the process, the firm’s head restructuring agents say. A better-planned filing would have allowed the sale of some assets outside of court proceedings and... More »

Feds Lift Ban on IBM Contracts

IBM withdraws protest of lost EPA contract

(Newser) - The government Thursday lifted a week-old ban that prevented IBM from competing for new federal contracts. In exchange, IBM agreed to withdraw its protest of an $84 million contract with the EPA it lost last year, and to refund any attorney fees and costs the Government Accountability Office paid to... More »

Congress Will Nix Airbus Deal, Boeing Says

US firm blasts 'unfair' award of Air Force contract to Europeans

(Newser) - Boeing isn't taking its loss of a $35 billion military contract to Northrop Grumman and Airbus lying down, Reuters reports. A company vice president said he was "as confident as he could be" that Congress would overturn the Air Force's decision to buy refueling tankers from Boeing's European rival.... More »

McCain Sucked Into Boeing Battle

Campaign boss lobbied against Boeing for European Airbus

(Newser) - John McCain is being dragged into the feud between Boeing and the Air Force, reports AP. A firm headed by McCain's campaign finance chairman, Tom Loeffler, was paid $220,000 to lobby on behalf of the Airbus, the successful European rival to Boeing's 767 fuel tanker. McCain had helped block... More »

Panel Rips Army Fraud 'Crisis'

Raps military on wasted contract billions

(Newser) - The Army is under fire for failing to train enough officers to supervise billions of dollars in contracts and allowing waste and fraud to flourish, reports the New York Times.  The problems have "created a crisis," according to an independent six-member panel appointed by Army Secretary Pete... More »

US Firm Paid Bribes for Iraq Contracts: Army

21 others barred from government work in ongoing scandal probe

(Newser) - An American company paid hundreds of thousands of dollars in bribes to secure some $12 million in contracts in Iraq and Kuwait, despite poor performance on earlier work, according to court documents obtained by the New York Times. Lee Dynamics International was suspended from seeking government work after an Army... More »

Alaskan Tribes Score No-Bid Bonanza

Sen. Ted Stevens under scrutiny for shady contracts

(Newser) - Alaskan tribes are so successful in securing no-bid government contracts, they're spurring a federal investigation into conduct by Alaskan senator Ted Stevens, reports Salon. In 1986, Stevens pushed through a law that gave Alaskan companies "small business" preferences—even if they belong to a multi-billion dollar parent corporation and... More »

Kobe Wants Out of Los Angeles

Fed up with losing team, Bryant says "There's no other alternative."

(Newser) - Lakers superstar Kobe Bryant, on a tear ever since the team was knocked out of the playoffs, finally lost it on a New York radio show today and declared that he wants to be traded. The 28-year old shooting guard is frustrated with the team—which has not won a... More »

12 Stories