raj rajaratnam will pay a penalty of $1.5 million to the sec. it's connected to his civil case that stemmed from allegations of insider trading. last year, rajaratnam was sentenced to 11 years in prision for securities fraud and conspiricy. he also paid a record fine of $92 million. steinway has a grand plan to stay in business. the iconic musical instruments company famous for its pianos recently noted it was considering its options, including selling its band instrument division. but, after making cost cuts, steinway's third quarter earnings started showing signs of improvement. meanwhile, talks with potential buyers didn't offer as much value as expected. steinway stock is roughly 10% off-key for the year. seaworld plans to make a splash in the market. the aquatic theme park started the filing process this week to go public. seaworld expects to raise $100 million with the ipo. no word yet on an ipo date. the company plans to trade under the ticker symbol "seas." still to come, layoffs are making corporate america richer, but is it good for th

rajaratnam was convicted of insider trading fraud.e's currently serving an 11-year prison sentence. rajaratnam has paid more than $6 million in criminal fines. on the agenda in the u.s. today, 8:30, jobless claims. at 10:00, consumer confidence numbers are out. then at 10:00, november new home sales and these are expected to gain about 2% to an annual rate of $375,000. u.s. futures are moving higher this morning. not much action. it's been a very quiet week. we did see markets trade weaker yesterday in particular on concern over the health of the holiday season. also a concern, the fiscal cliff, of course and, oh, yes, the debt ceiling, too. treasury secretary tim geithner says the u.s. will hit the $16.4 debt ceiling on monday. in a letter to congressional leaders, geithner says treasury will take steps to save the government $210 in order to delay a potential default until sometime in february. geithner says it's difficult to predict a time frame. among the measures treasury will take, helping investments in the federal government e

that rajaratnam is sentenced to eleven years in prison in salida dealing the move comes a week after a former portfolio manager was charged with running the most lucrative insider trading scheme s.a.c.'s billionaire founder steve cohen told clients today he's confident that he quote acted appropriately. so there are a couple and the common thread is an informant who has been helpful to the f.b.i. in a number of these cases his name is david slane there was a major article done in bloomberg he's a former morgan stanley director and one of his original tips that the article cites was a fund manager who was paying people to figure out who was coming and going on corporate jets at this small airport to try and figure out maybe the deals that were being made and john carney this and he seemed like you brought up a really good point which is is this insider trading no because anybody can actually do some due diligence of their own looking at various web sites can actually get this information and so we wanted to bring it up because this idea that this is insider trading this is just entrep

a lot of those cases were originally connected to the prosecution of raj rajaratnam.stigators heard incriminating wiretaps from that case. other times informants accused of fund of misconduct and it has a pretty amazing web that it lays out. also the dow backed off its highs of the day, but still managed to close above the critical 13,000 mark because of a jump in the financial sector. also apple's 6% decline dragged the nasdaq lower, but it wasn't rejected in the dow. joining us is michael gurhka and lou breen. lou, let's start off with you. just on the idea that there could be a deal emerge, you saw big movement from stocks. dow up triple digits at one point. is that telling that you it's going to be a huge jump if we do actually see a deal? >> well, i think that we'll get a jump when we see the deal. whether it's huge or not, or whether it's xlens rat commensue kind of decline we would have if it starts to become a realistic thing for us to go over the cliff, i think that whether there's a cliff deal or not, whether -- if we fall off the cliff, i think that it's pr