Massachusetts fines Morgan Stanley over Facebook research

BOSTON (Reuters) – Morgan Stanley, the lead underwriter for Facebook Inc’s initial public offering, will pay a $ 5 million fine to Massachusetts to settle charges that its bankers improperly influenced its research analysts when the Internet company went public.

Massachusetts’ top securities regulator, William Galvin, charged that Morgan Stanley improperly helped Facebook disclose sensitive financial information selectively, perpetuating what he calls “an unlevel playing field” between Wall Street and Main Street.

Morgan Stanley has been under criticism since the social media company went public in May for having revealed revised earnings and revenue forecasts to select clients on conference calls before the media company’s $ 16 billion initial public offering. A Morgan Stanley spokeswoman did not immediately return a call seeking comment.

Galvin, who has been aggressive in policing how research is distributed on Wall Street ever since investment banks reached a global settlement in 2003, said the bank violated that settlement. He fined Citigroup $ 2 million over similar charges in late October.

Massachusetts says that a senior Morgan Stanley banker helped a Facebook executive release new information and then guided the executive on how to speak with Wall Street analysts about it. The banker, Galvin’s office said, rehearsed with Facebook’s Treasurer and wrote the bulk of the script Facebook’s Treasurer used when calling the research analysts.

The banker “was not allowed to call research analysts himself, so he did everything he could to ensure research analysts received new revenue numbers which they then provided to institutional investors,” Galvin said in a statement.

Retail investors were not given any similar information, Galvin said, saying this case illustrates how institutional investors often have an edge over retail investors.

(Reporting By Svea Herbst-Bayliss with additional reporting by Suzanne Barlyn in New York; Editing by Theodore d’Afflisio)

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Romeo Beckham Burberry Campaign

At only 10 years old, Romeo Beckham has been chosen as the new face of Burberry's Spring/Summer 2013 campaign, which just launched today.

VIDEO - Anna Nicole Smith's Daughter Takes Up Modeling

According to The Daily Mail, Beckham was hand-picked by the label's Chief Creative Officer, Christopher Bailey. "This season's campaign lights up with the infectious energy of an amazing young cast of old and new Burberry family," Bailey said "We had such fun shooting the campaign and I think that comes through in the images, which really reflect the upbeat spirit of the collection."

VIDEO - David Beckham's Sizzling Underwear Ad

Modeling obviously runs in the family, as his father David and mother Victoria have each posed for their fair share of fashion campaigns.

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Senator's daughter pleads guilty to harassment

The NYPD daughter of state Sen. Ruben Diaz -- sister of the Bronx Borough President -- pled guilty today to harassment for keying her ex-boyfriend’s car in August when he wanted to end the relationship.

Sgt. Damaris Diaz, 43, who has been with the Police Department since 1993, also agreed to pay fellow cop Edward Vasquez $841.14 for the damage and spend eight days in a domestic violence program.

“He’s (Vasquez) amendable to this resolution,” said Laura Millendorf, a Manhattan Assistant DA brought in by the Bronx DA to avoid any potential conflicts of interests given her relationship to the Albany pol and his son, Ruben Jr., the borough president.

Robert Kalfus

NYPD Sgt. Damaris Diaz

Damaris bombarded Vasquez with threatening text messages and telephone calls after the break-up culminating in the August 25 attack on his 2005 Honda Accord. She was arrested and charged with criminal mischief and aggravated harassment.

Damaris refused to comment after guilty plea before Bronx Supreme Court Justice William McGuire.

“We are happy this is over and Sgt Diaz is looking forward to getting back to work,” her lawyer Anthony DiFiore.

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Ryder CEO Greg Swienton retiring, COO getting promoted

Trucking giant Ryder will get a new CEO in two weeks, as the Miami-Dade company announces the retirement of Gregory Swienton and the promotion of current COO Robert Sanchez to the top job.

Ryder, which leases commercial trucks and manages supply operations for companies around the world, saw revenues and profits increase this year, but has also been cutting costs and selling part of its fleet to combat slowing sales. Swienton, 63, joined Ryder as president in 1999 and was promoted to CEO a year later. Sanchez, 47, will become the company’s fifth CEO since its founding in 1933 by a Miami Beach construction worker named Jim Ryder. One of three Fortune 500 companies south of Palm Beach County, Ryder employs about 700 people at its headquarters in western Miami-Dade.

Sanchez becomes CEO on January 1, and Swienton will retain the title of chairman of the board until Ryder’s annual meeting in May, when that title will pass to Sanchez, too, the company said in a press release issued Monday morning.

E. Follin Smith, an independent director on the board, said in a statement in the company press release: “We sincerely thank Greg Swienton for leading Ryder to an improved sustainable business model, significantly enhanced financial performance, and an organization-wide commitment to business integrity.”

Swienton said Monday he was ready to end his career and begin enjoying a retirement with family, particularly grandchildren living in Texas, where he and his wife own a home.

“I had my seventh grandchild on Nov. 28th. There are many things pulling you in life,’’ Swienton said in a joint telephone call with his successor, Sanchez. “I’ve been working for 41 years straight.”

A 19-year veteran at Ryder, Sanchez has served as head of the company’s largest division, global fleet management solutions, and as chief financial officer. He was born in Miami, a graduate of Christopher Columbus High School and the University of Miami.

Sanchez said his main goal would be “to continue the good work Greg has done here at Ryder.” He noted that Ryder’s primary business is as an out-sourcer — with companies turning over their supply operations to Ryder as a cost saver. That leaves Ryder plenty of room to grow, since “there is still a very large part of the market that is not outsourced.”

Following the news Ryder stock dropped almost 2 percent by midday Monday, to $48.75 a share, on a day when most stock indices were posting gains.

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Child dies from injuries after being hit by car

A 7-year-old struck by a vehicle in a Lauderhill neighborhood street Saturday night has died, police said on Sunday.

The child was struck at around 7 p.m. on the 5700 block of Northwest 27th Court.

No names have been released.

The driver has been identified only as a 20-year-old female.

The cause of the accident is still under investigation, said police spokesman Capt. Rick Rocco.

The child was transported to Broward Health Medical Center in critical condition immediately after the incident, police said.

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Viral Justice: Domestic Abuse Victim Calls Out Attacker on Facebook

Amber Taylor had been living in a Missouri motel with her boyfriend, Austin “Wildboi” McCauley, until this week, when he reportedly beat her unconscious with a baseball bat.

Two days later, the 23-year-old took a picture of herself recovering from her injuries and posted it to McCauley’s public Facebook page, calling him out for his abuse and prompting his arrest.

Since its posting online, the photo has accumulated almost 10,000 “Likes” and close to 1,000 comments. Its caption includes the sentence, “I’m not the only girl he’s done this to but I’m not scared anymore I’m going to speak up.”  

McCauley has since been arrested and charged with second-degree domestic assault.

MORE: Savannah Dietrich Calls Out Her Attackers, Sees Them Punished

In her interview with news station WDAF, Taylor explained she wanted to expose her boyfriend’s true nature to the people who thought they knew him best. “I just wanted his friends to actually see the true him,” she said.

The young mother reports that she’s not only received support from McCauley’s own friends, but also from people across the country. “I’m actually glad that I have people that are writing me and telling me they care. Because being with him, I didn’t get to have any friends.”

This isn’t the first time social media has provided an outlet for a victim in need of support. Earlier this year, 17-year-old Savannah Dietrich violated a court order when she announced the names of her two underage attackers on her public Twitter account. Though the maneuver had her facing contempt charges, Dietrich and her parents reported it was necessary to bring attention to what they characterized as the unfair nature of her trial.

Though public pressure on the court still didn’t result in the attackers receiving jail time, they were sentenced to harsher punishments than were originally conceived before Dietrich went public with their names. And in the melee, the teenager inadvertently rallied a nation’s support, serving as an example of how self-advocacy can facilitate healing.

That may be the take-away for Hillary Adams as well. The disabled daughter of Texas judge, William Adams, Hillary was the subject of her father’s relentless beatings and secretly videotaped one of those incidents. Seven years later, she posted the video online. Though Adams was already grown up and no longer living with her father, she claimed the posting had more to do with holding him personally accountable, even if the law wouldn’t.

Trauma sufferers often report that keeping abuse a secret is a move that backfires, creating a greater sense of personal shame, no matter how blameless they may be. But social media is an accessible avenue they can use to tell their stories, offering survivors the chance to shed their shame and reclaim their dignity.

Do you think social justice can really be achieved with social media? Would you use it to get justice? Let us know what you think in the Comments.

Related Stories on TakePart:

• Anna Breslaw’s 600-Word Sprint: The V-Word Dialogues

• Despite His ‘Legitimate Rape’ Fail, Todd Akin is Still a Senate Contender

• In U.S., a New Definition for Rape

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A Bay Area native, Andri Antoniades previously worked as a fashion industry journalist and medical writer.  In addition to reporting the weekend news on TakePart, she volunteers as a webeditor for locally-based nonprofits and works as a freelance feature writer for TimeOutLA.com. Email Andri | @andritweets | TakePart.com

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Riveting Details Emerge from CT School Rampage

As morning turned to afternoon on Friday, further details continued to emerge from Newtown, CT, a tight-knit community shaken by a massacre at Sandy Hook Elementary School that took the lives of innocent students and teachers, in addition to the gunman, reportedly identified as Adam Lanza.

RELATED: President Fights Tears as He Addresses Nation

As President Barack Obama touched on in his tear-jerking press conference, this is not the first time the nation has witnessed a tragedy of this kind. The recent mass shooting at an Aurora, CO movie theater is just one instance of such violence. Columbine High School and Virginia Tech also resonate as prime examples.

Hollywood's biggest stars were quick to react to the news on Twitter and made an outcry for stricter gun control regulations.

Watch the video for ET's complete coverage of today's biggest headline.

RELATED: Celebs Tweet Reactions to CT School Shooting

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Fuel spill in Staten Island waters confined: Coast Guard

The US Coast Guard says a fuel spill from a cargo tank on a barge has been "pretty much confined" to the Staten Island waters where it originally occurred.

Spokesman Charles Rowe says cleanup of the spill is continuing, with thousands of gallons of oil-tainted water removed.

The spill from a leaking tank occurred Friday at about 11:20 p.m. It's unclear how much of the 112,000-gallon tank's oil had spilled.

The leak has stopped.

Rowe said booms had been deployed to contain the spill, with the majority of the oil concentrated around the barge. He said some had gone into the harbor and isolated patches had been seen on the Staten Island and New Jersey shorelines.

Rowe said booms had been placed to protect a bird sanctuary in the area.

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Miami in spotlight at AVCC, other entrepreneurship events

Entrepreneurs from around the world took the stage during this packed week of entrepreneurship events in Miami: Florida International University’s Americas Venture Capital Conference (known as AVCC), HackDay, Wayra’s Global DemoDay and Endeavor’s International Selection Panel.

The events, all part of the first Innovate MIA week, also put the spotlight on Miami as it continues to try to develop into a technology hub for the Americas.

“While I like art, I absolutely love what is happening today... The time has come to become a tech hub in Miami,” said Miami-Dade Mayor Carlos A. Gimenez, who kicked off the venture capital conference on Thursday. He told the audience of 450 investors and entrepreneurs about the county’s $1 million investment in the Launch Pad Tech Accelerator in downtown Miami.

“I have no doubt that this gathering today will produce new ideas and new business ventures that will put our community on a fast track to becoming a center for innovative, tech-driven entrepreneurship,” Gimenez said.

Brad Feld, an early-stage investor and a founder of TechStars, cautioned that won’t happen overnight. Building a startup community can take five, 10, even 15 years, and those leading the effort, who should be entrepreneurs themselves, need to take the long-term view, he told the audience via video. “You can create very powerful entrepreneurial ecosystems in any city... I’ve spent some time in Miami, I think you are off to a great start.”

Throughout the two-day AVCC at the JW Brickell Marriott, as well as the Endeavor and Wayra events, entrepreneurs from around the world pitched their companies, hoping to persuade investors to part with some of their green.

And in some cases, the entrepreneurs could win money, too. During the venture capital conference, 29 companies —including eight from South Florida such as itMD, which connects doctors, patients and imaging facilities to facilitate easy access of records — competed for more than $50,000 in cash and prizes through short “elevator’’ pitches. Each took questions from the judges, then demoed their products or services in the conference “Hot Zone,” a room adjoining the ballroom. Some companies like oLyfe, a platform to organize what people share online, are hoping to raise funds for expansion into Latin America. Others like Ideame, a trilingual crowdfunding platform, were laser focused on pan-Latin American opportunities.

Winning the grand prize of $15,000 in cash and art was Trapezoid Digital Security of Miami, which provides hardware-based security solutions for enterprise and cloud environments. Fotopigeon of Tampa, a photo-sharing and printing service targeting the military and prison niches, scored two prizes.

The conference offered opportunities to hear formal presentations on current trends — among them the surge of start-ups in Brazil; the importance of mobile apps and overheated company valuations — and informal opportunities to connect with fellow entrepreneurs.

Speakers included Gaston Legorburu of SapientNitro, Albert Santalo of CareCloud and Juan Diego Calle of .Co Internet, all South Florida entrepreneurs. Jerry Haar, executive director of FIU’s Pino Global Entrepreneurship Center, which produced the conference with a host of sponsors, said the organizers worked hard to make the conference relevant to both the local and Latin American audience, with panels on funding and recruiting for startups, for instance.

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Two die in unrelated crashes in Broward

Two people died in separate Broward traffic accidents on Saturday morning, according to the Broward Sheriff’s Office.

Shortly after 4 a.m., Andre Caesar, 41, crashed a 2012 Velocity motor scooter into the driver’s side of a tow truck backed into a driveway at 3370 NW 39th St. in Lauderdale Lakes. The tow truck, which was unloading a vehicle at a residence, had its headlights and taillights on, BSO detectives said.

Caesar, of Fort Lauderdale, was not wearing a helmet. He was taken to Broward Health Medical Center, where he died at around 5 a.m.

In an unrelated incident shortly after 6 a.m., Tiago Rodriguez, 28, apparently lost control of a 1999 Dodge Ram 1500 pickup truck he was driving and crashed into a concrete utility pole. He had been heading eastbound on McNab Road and trying to exit on the off ramp to Southwest 17th Street in North Lauderdale. Detectives do not know why Rodriguez lost control of the truck.

Rodriguez, of Margate, was also taken to Broward Health Medical Center, where he died at about 7:15 a.m.

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