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The Iron Lotus

Oct 8, 2018

Today on The Indicator, we answer your questions. Well, one of them anyway. Listener Sam Spear wrote to us to ask us about the mysterious financial contortions performed by a company called Helios and Matheson, which owns a company called Moviepass. Specifically, Helios and Matheson performed a reverse stock split, after which they diluted their stock an extraordinary amount. Sam asked us to explain what happened, and why, and whether what Helios and Matheson was even legal.

This episode is a rerun. It originally ran in 2014. We're playing it again because Bill Nordhaus shared the 2018 Nobel Memorial Prize in Economic Science today! We based this episode on one of his papers.

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NOEL KING, HOST:

This morning, the winners of the Nobel Prize in economics were announced. The prize will be split by two economists, William Nordhaus and Paul Romer. Nick Fountain from our Planet Money podcast is with me now. Good morning, Nick.

New laws in Europe and California are forcing tech companies to protect users' privacy or risk big fines.

Now, the industry is fearing that more states will enact tough restrictions. So it's moving to craft federal legislation that would pre-empt state laws and might put the Federal Trade Commission in charge of enforcement.

Europe enacted a tough law in May which requires, among other things, that companies make data breaches public within 72 hours of discovering them.

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