
This year's summer games in London are in all likelihood the last time the U.S. Olympic basketball team will be made up of NBA superstars, according to Adrian Wojnarowski of Yahoo! Sports.
For the use of its most marketable players, the league office and many NBA owners are determined to create a financial partnership with FIBA for a World Cup that would allow the NBA to significantly share in the windfall of revenues.
NBA Commissioner David Stern has hinted at changing the Olympic USA Basketball squad to be one comprised of players who are 23 years old or younger at some point in the future. Sources tell Wojnarowski that the switch is coming soon, however.
This is how FIFA members fill out their Olympic teams, while sending the best pros to the World Cup every four years.
Of course, the difference here is that unlike in soccer where FIFA controls everything, the NBA has significantly more power than FIBA. Therefore, it can run a "World Cup of Basketball" to its liking with revenues split in its favor.
It can even go as far as what MLB has done with the World Baseball Classic, where a whopping 66 percent of total revenues go to MLB and its players.
It's yet another move by Stern to please the NBA team owners who pay his salary.
But it completely ignores the sentiments from certain players who are ecstatic about being able to represent their country at the Olympics.
Then again, the additional revenues generated may be enough to appease any concerns.
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Ex-criminals like Frank William Abagnale — the man who inspired 'Catch Me If You Can' — prove that it is possible for anyone to turn their lives around, even after decades in prison.
We've compiled a list of 11 people — including a former Mafia member and a former target on FBI's Most Wanted list — with amazing stories.
Some are well known, but most are not.
When Mitnick was 16, he hacked the computer system Digital Equipment Corporation and stole their software, reports Gerry Smith at The Huffington Post.
He was a fugitive for nearly three years before being arrested in 1995 and released in 2002. His new company, Mitnick Security, helps other companies discover security lapses in their systems.
At one time, she was known as the Kodak Summer Girl, but eventually, the former model married into the Mafia and became a getaway driver.
Since then, she's turned her life around by starting her own stunt driving company Performance Two that's created scenes for more than 100 movies. She's also published an autobiography, "The Company She Keeps."
Between the ages of 16 and 21, Abagnale wrote $2.5 million in fraudulent checks and successfully posed as an airline pilot, doctor, lawyer and college professor. He was later apprehended by the French police and served five years in prison.
Abagnale was released early under the conditions that he'd work with the U.S. government.
According to his firm's Web site, he has worked alongside more than 14,000 financial institutions, corporations and law enforcement agencies to help prevent fraud.
His story was made into the film "Catch Me If You Can," which was directed by Steven Spielberg and starred Leonardo DiCaprio and Tom Hanks.
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By Mandi Woodruff As we edge closer to a cashless society, some consumers are quietly challenging the idea of money in the first place -- by giving it up completely. Daniel Suelo, 50, traded his nine-to-five for dumpster diving and a cozy cave in Utah's canyonlands back in 2000.
But even before Suelo, there was Germany native Heidemarie Schwermer. In her early 50s, Schwermer decided to see what it'd be like to leave her cushy job as a psychotherapist and live money-free, a journey that's been documented in the film Living Without Money.
Sixteen years later, she hasn't looked back. In an exclusive interview, Schwermer opens up to Business Insider about why she decided to leave everything behind.
Source: http://www.dailyfinance.com/2012/06/18/this-german-woman-has-been-living-without-money-for-16-years/
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Asian markets rallied after the weekend's Greek elections, but the market respite is fading.
With yields on Spanish 10-year bonds surging, Asian stock markets have started trading lower.
Meanwhile, stocks in Japan were also hit by a stronger yen that impacted tech and auto exporters.
Here's how the markets look:
Japan's Nikkei 225 is down 0.26%
Korea's Kospi Index is down 0.12%
Australia's S&P/ASX 200 is down 0.41%
China's Shanghai Composite is down 0.34%
Hong Kong's Hang Seng is down 0.30%
Note: Market data was updated at 10:58 p.m. ET
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Americans are planning to spend more on summer travel this year ? 53% of you say you'll spend upwards of $1,500, compared to 39% last year -- and I'm betting more of you will also be taking to the friendly skies. Or perhaps we should call them the not-so-friendly-and-sometimes-downright-maddening skies. You'll pay extra for nearly everything but the pleasure of a security pat down.The biggest U.S. airlines pulled in $3.4 billion in baggage fees alone in 2011, according to the Department of Transportation. The Wall Street Journal reported that on Spirit Airlines, the average passenger paid $51.68 in non-ticket revenue for each flight segment, or a total of $103.36 above the ticket price.
As you might imagine, all that nickel and diming makes it hard to set a budget. So the best strategy, it seems, is two pronged: Shop smart, then avoid extras whenever possible. Here are five foolproof tips:
-- With Arielle O'Shea
Source: http://www.dailyfinance.com/2012/06/18/5-surefire-tips-for-saving-on-summer-air-travel/
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