Peter Kafka

Recent Posts by Peter Kafka

SEC Files Insider Trading Charges in Disney-Marvel Deal

The Securities and Exchange Commission has charged a California man with insider trading in the run-up to the 2009 Disney-Marvel deal. The SEC says Toby G. Scammell took advantage of his girlfriend, an “extern” working at Disney’s corporate strategy department, to learn about the company’s $4 billion acquisition of the comic book company, and used the information to make a $192,000 profit trading call options. The SEC hasn’t charged Scammell’s girlfriend, who it describes as “exploited,”. Press release; complaint (PDF)


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work