Bradley said that bets taken from those alleged to be with CBS skewed the odds significantly on “Survivor” contestants.
At least two players have been identified as CBS employees and other names may be connected to the network or may be aliases, Bradley said. The biggest payoff, $8,000, came on a $1,000 bet placed on the fifth “Survivor” at 8-to-1 odds.
Odds will be offered on the seventh “Survivor” but all bettors will be carefully monitored, BoDog President Rob Gillespie said in a statement.
The players’ current bets on “Survivor: Amazon” have been canceled and their money refunded, Bradley said. “Some have been right, many have been wrong.”
By Lynn Elber
The show narrows the field to two finalists in filmed competitions.
Callers to the Bodog.com offices were told that wagers were no longer being accepted on “Survivor.”
BoDog requires that bettors must not have knowledge of an event’s outcome. He declined further comment on the allegations, or on any action CBS might take.
Betting on events other than sports or racing is banned in Las Vegas sportsbooks, a spokeswoman for the Nevada Gaming Control Board said Thursday. Most offshore sportsbooks accept such alternative bets, said BoDog’s Bradley.
He wasn’t aware of any other possible legal sanctions.
They wagered correctly on who would be the final two contestants in both the fourth and fifth editions of “Survivor,” Bradley said. One person was said by BoDog to work in a “production role” for CBS.
“Throughout the history of ‘Survivor,’ many have believed they knew the outcome of the show,” Ender said. The winner is unknown until he or she is chosen in a vote by other contestants during a live broadcast.
“We’re pretty sure this is the case,” Bradley said. All Rights Reserved.
An online sportsbook said it has dropped betting on CBS’ “Survivor” after allegedly finding that network employees were wagering – and winning – on the hit reality show.
The Costa Rica-based BoDog.com found at least two CBS employees betting on the show’s outcome, said BoDog spokesman Lance Bradley. Asked if BoDog might consider legal action, he replied: “It’s not something we’d want to pursue, as a matter of precedent.”. The players in question opened accounts with BoDog before “Survivor: Marquesas,” the fourth show, and bet only on the show and no other events.
For the current “Survivor,” the bets in question affected the odds for contestants Jenna Morasca of Pittsburgh, Pa., and Matthew Von Ertfelda of Washington, D.C.
“Only ‘The X-Files’ has more conspiracy theories than ‘Survivor,’” CBS spokesman Chris Ender said. This material may not be published, broadcast, rewritten, or redistributed. The suspicion is they had insider knowledge, he said.
“This then begs the question of whether it was obvious at the time. Enron executives Kenneth Lay, Jeff Skilling and Andrew Fastow — all convicted of white collar crimes — emblemized the bad side of the one percent before the term existed.
Many transactions — ultimately at the collapse of the company — involved some of the largest banks in the country.
Former Enron CEO Jeffrey Skilling reportedly led the company’s risky bets to revolutionize the market for natural gas and commodities trading. Skilling was sentenced to 45 years in prison and fined $45 million.
8. Higher capital requirements and less leverage reduce the danger of a catastrophe.
“One lesson we haven’t learned from Enron is that corporations will engage in conflicts of interest, and some won’t stop until action is taken,” he said.
Opinions over the role of regulators are mixed. “Often that means they don’t get paid at all. Names like AIG and WorldCom may have replaced Enron in the vernacular when referring to corporate meltdowns and greed. history. We need to create the right incentives to keep people honest – or at least not afraid to speak out.”
Olympus managed to hide losses for two decades and admitted only recently to doing so. “Lots of people were aware or should have been aware. “We could have taken the opportunity to preserve the valuable in the new finance and carve out the excess. Unlike Enron, Olympus came clean on its own.
7. We didn’t, but we still could and we still should.”
10. Conflicts of interest continue to occur
Alex Gibney, filmmaker who produced “Enron: The Smartest Guys in the Room,” said the big lesson that wasn’t learned was Enron was aided and abetted by the most important investment banks in America and around the world.
“We muddled through and avoided more Enron-type frauds and collapses, which isn’t bad. Still building fragile financial structures
“Just because it’s a big respectable bank, don’t think they’re not into gambling,” Gibney said.
“We could have taken a deep look at the special purpose vehicles, derivatives, repos, and the rest of the ‘new’ finance that was core to Enron’s business model, in order to see what needed to be done better,” Mark Roe, professor at Harvard Law School, said. “At some level, we might be better off with a simple cigarette-style warning — this investment is not guaranteed; you could lose all of your money — than the phone book style SEC reports that are currently distributed to investors.”
“They employed brilliant people. I would argue that at best, the firm smelled very bad.”
Lubben said the recent financial crisis showed that small investors still do not fully understand where shareholders stand in the priority line — the “food chain” — of large corporations.
“These frauds don’t happen in a vacuum,” Weiss said in agreement. “The outright fraud of the type that was the core of Enron’s ultimate collapse — bogus transactions that generated accounting entries but not real profits — was contained after Enron (even if other frauds, like Madoff’s arose).”
Weiss said one could not understand how Enron valued things, or management had discretion in the valuations which allowed management to choose their profit number.
. It was his CFO, Andrew Fastow, allegedly idolized Skilling, and did his part to cook the books, hiding billions of dollars in debt.
Given the lopsided votes in favor of the law, Weiss said it was likely not well-read by lawmakers before it was passed.
Stephen Lubben, law professor at Seton Hall University School of Law, said recent years have also shown the limits of the ever-increasing disclosure obligations imposed on companies.
Weiss said the Sarbanes Oxley Act, which created new standards for accounting firms, boards and management, was a “clear overreaction” to the Enron scandal, which is “understandable.” Weiss said good and bad came as a result of its passage in 2002.
“You’re not so far out on the ledge,” he said.
6. In 2001 Enron employees lost $1.2 billion in retirement funds and $2 billion in pension funds while Enron’s top execs cashed in $116 million in stock, according to the film, “Enron: The Smartest Guys in the Room.” The average severance pay was $4,500 while the top executives were paid bonuses totaling $55 million.
9. “You probably could have gotten benefit of Sarbanes Oxley with a smaller law that avoided the pitfalls that companies complain about.”
Peter Elkind, editor at large with Fortune magazine, investigative reporter and co-author of Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron with Bethany McLean, said business, especially the financial world, can’t be left to regulate itself.
Ten years after the energy and commodities firm Enron collapsed under the weight of a massive fraud, much has changed about how corporate America does business and much, unfortunately, has remained the same, with new frauds and excessive risk-taking exposed all too frequently.
“The risks that traders take pose risks for all of us,” he said.
2. Many in the business community say business regulation is doing more harm than good for an already fragile economy.
Elkind said regulatory agencies need to have the weapons and funding to closely monitor new, ever more powerful financial instruments.
In 2006, Skilling was convicted of 19 criminal counts, including one count of insider trading, related to his role in the massive fraud. Corporate leadership makes all the difference in the world–for good and for bad
“When you pass these laws, it adds a level of complexity that is hard for many companies, especially small companies,” he said. Many say regulators need teeth to enforce rules and weed out shady accounting. Instead of the massive amount of documents can’t we do one thing at a time, isolate and make it clear, so we have a sense of the repercussions?”
Corporations still use accounting tricks to hide debt. Excessive leverage is as dangerous as a bad bet
“We did learn some lessons and people were more careful, but greed creeps back in again,” said Lawrence Weiss, professor of international accounting at Tufts University’s Fletcher School of Law and Diplomacy.
“The changes made after Enron did little to avoid the shocking failures at AIG and other financial companies,” he said. Enron allegedly made prepay deals worth billions of dollars, such as pretending to engage in energy swaps with other companies but they were actually dealing with offshore companies that were banks, in essence to receive loans. Regulators and the regulated continue their dance
Weiss said at the most basic level, the key lesson from the South Sea Bubble, Enron, and Madoff Ponzi scheme is knowing whether a business itself makes sense.
Sen. If it’s too good to be true, it probably is
“Conflicts of interest will continue to plague Wall Street until regulators use the new Dodd-Frank provisions to prohibit them,” he said.
That’s the good news, Roe said.
Enron allowed its chief financial officer, Andrew Fastow, to set up a fund called LJM and engage in suspect deals that made Enron’s books look better, Levin said. The company collapsed in a matter of months as the media and the public became aware of its faulty accounting and business practices.
Before the bankruptcy of WorldCom in 2002, Enron’s bankruptcy was the largest in U.S. Skilling was alleged to have dumped $15.5 million in Enron stock in an insider trade more than two months before the company declared bankruptcy. Preferred stockholders get preferred treatment
“After Enron, we could have, but didn’t, take the opportunity to re-think what’s the core of what’s economically valuable in managing risk in the derivatives business and financing firms via repos and special purpose vehicles,” Roe said. In Enron, and more recent cases like GM and Lehman, this really seemed to surprise some investors. “And they could do this and make a fortune, and no one could copy it? How was it shown on their financial statements?”
Weiss said the same could be said of the Dodd-Frank Act, or Obama’s healthcare plan.
“Some people like them a lot, but they’re just so complex. Today banks have refused to devalue their troubled assets, say some economists.
1. But we still built, and we’re still building, too many fragile financial structures that fail too often.”
“The basic answer is that a common shareholder only gets paid if everyone else has been paid,” he said. Important names make mistakes too
First, Weiss said, the cash flows did not match the profits even after many years which should have raised a red flag. Lawyers, bankers, auditors and many employees saw stuff that they knew was wrong or was suspicious and said little or nothing. Obviously this is a problem in all bankruptcy cases, but it is especially acute in a situation where a big, well-known company fails will little warning.”
Elkind said companies must clearly disclose the risks they are taking and regulators need to require them to do so.
Examples include Bear Stearns and Lehman Brothers in the run-up to the financial crisis and MF Global’s implosion just recently, he said.
“One of the things most people forget about Enron, it wasn’t an outlier,” he said, explaining that it engaged in risky activities with venerated banks.
“For Enron, the firm was growing at a fantastic rate and the question was how were they doing it? The answer, one knows with hindsight, was they were committing massive fraud,” he said. Okay, but how did these people create the wealth? What exactly were they doing? Trading energy, trading weather futures, trading broadband,” he said. Next, it was difficult if not impossible to understand exactly how the firm made money.
The company’s 20,000 employees lost not only their jobs and medical insurance but retirement savings in company stock. Carl Levin, D-Mich., chairman of the permanent subcommittee on investigations which reported on the role of Enron’s board and investment banks’ response to lessons learned from Enron, said the Enron scandal did not put an end to corporate malfeasance..
Once the darling of Wall Street, Enron was the country’s seventh-largest company with a soaring stock price that grew more than 100 percent in 2000.
“If it looks too good to be true it probably is, or people’s inherent greed often gets the better of their judgment,” he said.
3. In the years after Enron was exposed, companies like Goldman Sachs and Citibank set up synthetic CDOs, sold shares in them to clients, and then made money betting against their own clients.
If you increase capital requirements for financial institutions, you decrease risk, Elkind said
Andrew Sloan, director of the Brain Tumor and Neuro-Oncology Center at University Hospitals Case Medical Center in Cleveland, said scientists have only recently understood how “tumors recruit the immune system” and how that system can be alerted to fight the cancer.. toddler who had leukemia. Food and Drug Administration to fight various cancers.
The battle to cure cancer just got a serious boost thanks to former Facebook President Sean Parker, who has pledged to donate $250 million to research a breakthrough area of cancer treatment called immunothearpy.
“Immunotherapy represents a fundamentally new, breakthrough treatment paradigm in the fight against cancer – it harnesses the body’s own powerful immune system to mobilize its highly refined disease-fighting arsenal to engage and eliminate the cancer cells,” Bluestone said in a statement Tuesday.
Medical researchers have for decades labored to find a way to have the immune system turn and fight against the tumors that have invaded the system the way they fight bacterial or viral infections. Waseem Qasim, professor of cell and gene therapy at University College of London’s Institute of Child Health, said last year.
While still experimental, similar treatments have been used to remove T-cells from sick patients, modify them to find and attack cancer and then injecting them back into the body. Scientist have discovered breakthrough ways in recent years to manipulate the immune system so that it attacks cancer cells.
Parker, who also cofounded file-sharing computer service Napster, this week announced on his website the creation of the Parker Institute for Cancer Immunotherapy that will link six major cancer centers: MD Anderson in Houston, Memorial-Sloan Kettering in New York, Stanford, UCLA, University of Pennsylvania and University of California-San Francisco. They protect cells from part of the immune system.”
Most recently, former President Jimmy Carter, who had been diagnosed with metastatic cancer, benefited from a check-point inhibitor called pembrolizumab. “They recruit cells that surround them. These are not cells that kill the tumor. Bluestone’s discovery of a protein called CTLA-4 helped researchers discover a way to take the “brakes” off the immune system. … In many cases patients have side effects that are far less toxic than chemotherapy.
Immunotherapy treatments, which work by harnessing the body’s immune system to battle cancer, have been considered in recent years to be a possible game-changer in the fight to stop cancer.
UC-San Francisco immunologist Jeffrey Bluestone, who discovered an early form of immunotherapy in the 1990s, will act as president and CEO of the Parker Institute for Cancer Immunotherapy. After months of treatment, Carter announced that doctors could no longer detect signs of cancer in his system.
Other immunotherapy treatments work by targeting the immune system and manipulating it so that it can find and attack cancer cells. Parker, 36, has pledged a $250 million grant to the institute, according to the Parker Institute for Cancer Immunotherapy of San Francisco.
Dr. Doctors took donor T-cells and then used “genetic scissors” to modify them so they would be safe to put into the toddler.
While many immunotherapy treatments remain experimental, many studies have shown remarkable results.
Patients will sometimes have immune responses such as fever or rash that indicate their immune system is battling the cancer.
“Tumors have figured out how to turn off the immune system,” Sloan said in an interview with ABC News when Carter first announced his diagnosis. Called “check point inhibitors,” these drugs ramp up the immune system to fight cancer and a few have been approved by the U.S. A breakthrough cancer treatment last year helped save the life of a U.K. In some cases, patients with stage 4 disease have been found to have no sign of the disease after treatment, although it is unclear whether the cancer will return at a later date.
They used the same tools to add synthetic genetic material that made the cells go after the cancer.
“The approach was looking incredibly successful in laboratory studies, and so when I heard there were no options left for treating this child’s disease, I thought, ‘Why don’t we use the new [modified T-cells]?” Dr
I am hoping that means that Matty Ice will try to force the ball to his top receivers and Green Bay can enjoy a few pick-six dances.
TE: M. Bailey – With this selection, I am breaking another rule where I do not pick players from my season-long team. For those of you playing daily sports on FanDuel, you have no doubt realized that there are several different alternatives that are available, including games that involve all of the week’s games, Sunday only games, Sunday at 1:00 p.m. In any event, I’ve given myself $50 for this bankroll and I’ll be trying to keep track of them as I go forward.
D: GB Packers – Finally, I am going with an obvious choice for my defense: the Green Bay Packers against the Atlanta Falcons. If Jennings starts, Williams have very little value.
With that said, Dez Bryant is a beast and has a nice matchup against the crappy Bears secondary. However, I like Bailey way too much to not take him and his cheap $4,900 salary. Bryant – For me, one of the reasons I love daily fantasy sports is to actually watch my players perform. only games, etc. It finished even more poorly when my studs wide receivers were barely even targeted!
WR 3: J. I expect the game to be a high scoring affair so maybe Bailey will get some field goals and a bunch of extra points.
WR 1: K. I am looking for seven catches and 110 yards. However, because 3,720 places actually cash, this game provides a good opportunity to increase the size of my bankroll.
FanDuel December 2014 NFL (Games Starting Thursday) Bankroll
Now that I have started publically posting my FanDuel NFL lineups, I have decided to try to keep track of my bankrolls involved in each different type of games. That guy is a total beast and will no doubt run all over the Bears. However, if he sits, I am looking at a “Trey Mason against the Raiders” kind of performance, something I am going to need to hedge my bet against one of my studs underperforming. The problem is, however, that I have Murray in my season long fantasy football league and the quickest way for me to ensure that he will suck is to select him on my FanDuel lineup! Of course, I am only half-joking but I cannot tell you how many times this seems to be the case and, as a result, I am going to steer clear of Murray this week and be content that he will help my season-long team.
K: D. He sucked on the Bills and for most of this season, he sucked on Houston’s squad. Over that time, Stills has been one of the primary targets of Drew Brees, something I hope continues this week. As such, I always want to try to select a stud that will play in each of the primetime games for that week. That is true despite the fact that the Colts simply will not give up on Richardson, no doubt in part due to the fact that they gave so much for him. Against the horrible Atlanta Falcons secondary, I expect Nelson to go off and haul in 9 catches for 150 yards and two TD’s. For $6,400, that would be a nice day for my team.
WR 2: D. Although I realize that the Jags are sneaky good on defense (i.e., two tds last week, a few forced fumbles against Luck and the Colts the week before), I still think Ryan Fitzpatrick will tear up their secondary and get me at least three scores.. Herron – Dan Herron is so much better than Trent Richardson. Not only is it the night the first games of the NFL week begin, Thursdays provide yet another opportunity to “get it right” and show the world that you actually know what you are doing when it comes to fantasy football.
Fortunately, however, Week 14 is a new week and we all get to start over. Nelson – There is not much to say about Jordy Nelson other than to reiterate that he and Aaron Rodgers are an amazing combo. While the matchup is not perfect and the Panthers are capable of holding down an air attack, Stills is quick with good hands. Bennett – Michael Bennett is a stud. Additionally, it seems that lately a few of the other receivers and tight ends are getting in on the action and I am worried that Beasley, Williams or one of the tight ends (Witten or Escobar) will creep some of my touch downs. Of course, I am still going with Bryant despite those concerns.
My first thought was to go with DeMarco Murray. The week started off poorly when Latavius Murray (UCF! UCF! UCF!) finally got some playing time and busted out in a huge way, especially considering he only had four carries before he was concussed and had to leave the game. Williams – With this selection, I am breaking one of my primary rules to never start someone in a fantasy game with games starting on Thursday when I am not sure if that person will play and/or start. Just saying….
For me, this week is no exception and I am dying to erase last week’s football selections from my memory. The problem is the Tony Romo is a Jekyll and Hyde type of player and you never know what he is going to deliver, especially when it gets cold and the games start to count. For a price tag of only $6,400, that would put my team heading in the right direction.
RB 2: A. While Bennett left the Cowboys at a time that Dallas wanted him to remain with them, he knew that he would always remain behind Jason Witten, something that was not acceptable to him. As a result, this is sort of a revenge game and piques my interest. Put it in the books!
December 2014 NFL (Games Starting Thursday) Week 14 Bankroll: $50.00
My FanDuel December 2014 NFL (Games Starting Thursday) Lineup
QB: R. Bennett has been really solid over the past few weeks after returning from an injury so I would guess that he is good for at least one touchdown and a handful of receptions.
RB 1: D. Here, Jennings is hurt and is currently listed as “questionable.” Accordingly, I want to start Williams because the Giants are playing Tennessee, a team that has been absolutely lit up over the past few weeks. While I am all about starting players in “revenge games” (i.e., games against former teams that gave up on them such as Steve Smith, Jr.’s amazing game against the Panthers), I think Herron has established himself as the man over the past two weeks. I like to play one of each because it provides for more variety and an opportunity to strategize against what I think other players will be trying to accomplish. Nelson is fast, has great hands, and is the number one option for Rodgers lately (although Randall Cobb is trying to take that away from Nelson). I like Jenngings but I think the Giants should give him time to heal. I look for Herron to be the guy that runs all over Cleveland and I expect two touch downs: one receiving and one rushing. Thursday night’s matchup between the Dallas Cowboys and the Chicago Bears has me drooling! There should be a lot of points scored and I want to get in on a piece of that action.
Thursday nights bring such excitement for American football fans around the world. Green Bay has been on a scoring tear of late and the Falcons cannot run the ball very effectively. For the games starting on Thursday, I typically like to play the “$40K Thu NFL Snap.” The entry fee is $2 and the first place prize is $2,500. I do this for several reasons, including giving me vital information on whether certain games are profitable for me, as well as the fact that it is fun to see these kinds of experiments. Stills – Kenny Stills is a freak, especially since Cooks went down with a season-ending injury. Fitzpatrick – This guy was so bad that he lost his job. Of course, when Ryan Mallet when down with an injury, he promptly put up an amazing performance which included six TD’s! Although his price skyrocketed this week (it went from $5,000 to $7,200), I am going with the hot hand, especially since the Texans are up against Jacksonville this week