The week that was: 06/29/14


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Betting on a World Cup bite

ESPN reported that 167 people around the world had bet that Uruguayan striker Luis Suarez would bite someone during the tournament in Brazil and the gamble paid off when Mr. Suarez sank his teeth into Italy’s Giorgio Chiellini’s shoulder near the end of their match Tuesday. One online gambling site had set 175-1 odds that Mr. Suarez, who had bitten opponents twice before, would do it again on soccer’s biggest stage. Of the 167 bettors, the biggest winner reportedly took in $3,300. The biggest loser? Mr. Suarez, who has been suspended for four months and has his sponsors reconsidering their endorsement deals.

Tourney also takes big bite out of productivity … or does it?

As predictable as the sunrise, analysts were calculating the lost productivity as American workers stopped what they were doing to watch the U.S. team play. One estimate put the loss at $1.68 billion, but others say those estimates are wildly overinflated and counter that World Cup watching boosts morale and energizes workers.

Starbucks, with emphasis on ‘bucks,’ makes pricing move

Coffee superpower Starbucks boosted the price of some drinks 5 to 20 cents, and next month its packaged coffee sold in grocery stores goes from $8.99 to $9.99.

Beam me up

The final steel beam went up Tuesday on the 33-story Tower at PNC Plaza on Wood Street, Downtown, marking a major milestone in the expected completion next summer of the newest addition to the Downtown skyline.

Where the wild bonuses are

The Fiscal Times is reporting that former Wall Street trader Deeb Sale received an $8.25 million bonus at Goldman Sachs in 2010 — but now he’s suing Goldman because he believes he actually should have received $21.15 million. That would have followed the $15 million bonus the then-30-year-old received in 2009. Mr. Salem left Goldman two years ago to enter the more lucrative world of hedge fund trading.

If the hedge fund thing doesn’t work out, there’s always the NBA

Four-time National Basketball Association Most Valuable Player LeBron James took the early termination option on his contract with the Miami Heat, walking away from a pact that would have paid him $42.7 million over the next two years.

Steve Twedt can be reached at stwedt@post-gazette.com or 412-263-1963.


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