trading

In what is being called "the most lucrative insider trading scheme ever charged," federal prosecutors are filing a criminal case against Mathew Martoma, a former trader at a division of  SAC Capital.

Here's the press conference where the charges were described:

Martoma is charged with making around $276 million in avoided losses and combined profits on a deal based on insider information from a University of Michigan professor.

General Motors (GM) stock returned to trading on Wall Street yesterday for the first time since the company collapsed, declared bankruptcy, and was rescued by an infusion of fifty billion taxpayer dollars.

While Michigan has been focusing on diversifying its economy to make up for the loss of jobs in the auto industry, GM's return to public trading suggests that the auto industry in Michigan will continue to be a major economic player in the region.