Monthly Archives: May 2013
  • Tequila! But not for spring breakers

    DeLeón Tequila is $90 a shot, it turned down a celebrity spot, and it's one of the fastest growing luxury liquors in America. An inside look at a flourishing market.

    By Erika Fry and Daniel Roberts

    FORTUNE -- Shortly after Brent Hocking launched his high-end spirit, DeLeón Tequila, his friend Doug Ellin, the creator of HBO's hit show Entourage, called with a big break. Ellin offered DeLeón a bit part on his show, as the MORE

    May 31, 2013 11:11 AM ET
  • A new way to get to Macau: Seaplane

    Peter de Kantzow has big plans for Waterfront Air, the startup airline that will shuttle passengers from mainland China to Macau via seaplanes.

    By David Whitford, editor-at-large

    FORTUNE -- Asian high-rollers may soon have a stylish new way to make a splash on arrival in Macau: in a seaplane.

    Seaplanes were once as much a part of the Victoria Harbor seascape as Chinese junks, but not for the last 50 years. These MORE

    May 30, 2013 10:29 AM ET
  • Joe Paterno's family brings new suit against NCAA

    The family of the late, disgraced Penn State football coach is filing a new lawsuit, this one against the NCAA, centered around what it believes was a faulty investigation by Louis Freeh.

    By Daniel Roberts, writer-reporter

    Please see update below.

    FORTUNE -- Nearly a year after the release of the Freeh Report on child abuse at Penn State University, the family of deceased coach Joe Paterno is still refuting its conclusions and will MORE

    May 29, 2013 2:58 PM ET
  • The amazing movie company behind 'Sharknado'

    And the films Snakes on a Train and Nazis at the Center of the Earth.

    By Ryan Bradley, senior editor

    FORTUNE -- Sharknado is a film about a tornado full of sharks. It stars Tara Reid and John Heard (the dad from Home Alone) and cost less than $2 million to make. It's already profitable though hasn't yet been released. It was big at Cannes -- not the prestigious film festival; the MORE

    May 29, 2013 2:50 PM ET
  • Yahoo: Still searching for profits on the Internet (Fortune, 1996)

    Editor's note: Every Sunday we publish a favorite story from our magazine archives. With the news that Yahoo acquired blogging platform Tumblr for $1.1 billion this week, we present a 1996 feature on how search companies were struggling t0 make money after big IPOs. Let's look back on a time before "Google" was a ubiquitous verb and a major player in search.

    Once the darlings of Wall Street, Yahoo, Infoseek, Lycos, and Excite MORE

    May 26, 2013 8:00 AM ET
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  • What job cuts really mean for ESPN

    The Disney-owned sports media giant is laying off 300 to 400 people. But it won't affect its fiscal future.

    By Daniel Roberts, writer-reporter

    FORTUNE -- The news this week that ESPN would be cutting 300 to 400 jobs reverberated across the media landscape. The sports network giant is one of the last remaining examples in the industry of all-out success and profitability. Even as newsrooms have shrunk and publications have folded, MORE

    May 24, 2013 2:03 PM ET
  • Sign GM is firing on all cylinders

    The Detroit giant is moving its treasury staff to the Midwest.

    By Doron Levin

    FORTUNE -- General Motors Co.'s decision to move its treasury staff to Detroit from its historic home in New York is another sign of the automaker's restructuring as well as a subtle shift from a management philosophy that helped GM rule in an earlier time.

    The move, affecting 70 GM (GM) workers, will take place next year. Dan MORE

    May 24, 2013 11:34 AM ET
  • The latest to claim fraud at generic Lipitor maker Ranbaxy: Its owners

    Japanese drugmaker Daiichi Sankyo has quietly stood by its decision to purchase Ranbaxy in 2008. Now, though, the company is publicly suggesting it was defrauded in the $4.6 billion acquisition.

    May 23, 2013 10:21 AM ET
  • What tummy tucks can teach us about health care reform

    The conventional wisdom is that market forces don't apply to pricing for medical care. A new study of the cosmetic surgery industry shows how wrong that belief is.

    By Shawn Tully, senior editor-at-large

    Fortune -- We're constantly hearing why the market forces that bring us great deals on cars, cellular phones, and houses can never work in health care.

    One leading myth is that each patient is so different, and every procedure MORE

    May 23, 2013 10:14 AM ET
  • U.K.'s Cameron to China, India: We're open for business

    Prime Minister David Cameron says openness to foreign investment is competitive advantage for Britain (and Ratan Tata is always welcome at Downing Street).

    By Stephanie N. Mehta

    FORTUNE -- U.K. Prime Minister David Cameron says he's "not embarrassed" that foreign companies are investing in and acquiring British brands; indeed, he thinks Britain's open door policy makes it a good place for businesses to operate.

    "I said to the Chinese Investment Corporation the MORE

    May 23, 2013 8:46 AM ET
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