The whole beauty of fantasy sports is that you can manage teams of pro athletes without ever leaving your couch. The process of drafting teams, betting on the success of individual players and trash-talking with your similarly obsessed friends takes place on Web and mobile platforms, and that makes the fantasy sports pastime about more than just bragging rights. It's become a billion-dollar business.
Larry Ellison, CEO of Oracle, is No. 3 on the <em>Forbes</em> 400 list of the wealthiest Americans.
Credit Stephen Dunn / Getty Images
It's mostly the usual suspects on the latest Forbes 400 list of the wealthiest Americans: Bill Gates tops the list for the 20th consecutive year, with a net worth of $72 billion, followed by investor Warren Buffett and Oracle CEO Larry Ellison.
The Koch brothers, Charles and David, tie for fourth place, while Walton family members with an interest in retail behemoth Wal-Mart occupy positions 6 through 9.
Originally published on Mon September 16, 2013 5:39 pm
A Beef Merlot dinner from the Atkins frozen food line, launched in January.
Credit Kent Altena / Flickr
A decade ago, Atkins was undeniably the fad diet of the moment: Back then, nearly 10 percent of Americans said they were either on the low-carb weight-loss plan or had tried it.
But after Dr. Robert Atkins, its namesake and mastermind, died of a head injury in 2003, the brand went downhill fast. Nutritionists berated the plan for promoting saturated fats and cholesterol-rich foods. Sales of Atkins books and food products dropped precipitously. And Atkins Nutritionals filed for bankruptcy in 2005.
Former Treasury Secretary Larry Summers speaks during a session at the World Economic Forum in Davos, Switzerland, in 2011.
Credit Michel Euler / AP
By taking his name out of consideration for the Federal Reserve chairmanship this weekend, Lawrence Summers became a metaphor for the difficulties President Obama has had in pursuing his economic agenda.
And the end of Summers, at least as Ben Bernanke's potential successor, signaled that the president's inability to get traction on his economic agenda is likely to get worse, not better. Now even lawmakers in his own party are willing to break with him on high-profile economic decisions.
Federal Reserve Board Vice Chairman Janet Yellen is considered a top candidate to replace Ben Bernanke now that Lawrence Summers has withdrawn his name for contention for the Fed's top job.
Credit Robert Galbraith / Reuters/Landov
Financial markets rallied Monday, a day after Lawrence Summers took himself out of the running to be the next chairman of the Federal Reserve. Summers had been seen as a front-runner to replace Ben Bernanke, whose term expires in January.
His exit improved the odds for his chief rival for the position — Fed Vice Chairman Janet Yellen — as well as those of Donald Kohn, the former vice chairman of the Fed board.
South Korean managers are heading back to their factories at a complex located just north of the Demilitarized Zone. They're teaming up with North Korean workers to test-run idle assembly lines. The complex has been closed for five months because of political tensions between the two countries.
A 60-foot section of pipe is lowered into a trench during construction of the Gulf Coast Pipeline in Prague, Okla., in March. The Gulf Coast Pipeline, a 485-mile crude oil line, is part of the Keystone XL project and will run from Cushing, Okla. to Nederland, Texas. Although this southern stretch of the pipeline is nearly finished, the northern stretch is still under study.
Five years ago this week, a Canadian company proposed building a pipeline to send heavy crude oil from Alberta to U.S. refineries. Although the Obama administration's answer on the Keystone XL pipeline is not expected anytime soon, politicians in Washington and Canada are ramping up the pressure for the project, while environmentalists are pushing hard against it.