It's been a bumpy ride these past few years for investors looking for easy ways to make money. Stocks, bonds and real estate have all seen wild swings or simply delivered disappointing results.
But a taxi medallion is one investment that keeps going up in value: Two of them recently sold for a record $1 million each.
A taxi medalliongives the bearer the right to pick up rides for hire. It turns out it's also a great investment vehicle. When New York cab driver Sushil Maggoo bought his in 2003, for example, he paid around $215,000.
Originally published on Tue November 15, 2011 3:52 pm
Today, a subcommittee of the Committee On The Judiciary heard some fascinating testimony about the Computer Fraud and Abuse Act (CFAA). (We know what that sounds like, but bear with us.)
The hearing, titled "Cyber Security: Protecting America's New Frontier," really focused on big cyber threats to the country's infrastructure, but there was another juicier question that came out of the hearing: The way the Justice Department wants to interpret a current law, lying on the Internet would amount to a crime.
Demonstrators from a Salafi group chant slogans and hold posters that read, in Arabic, "Islamic Egypt," during a Sept. 23 protest against emergency law in Cairo. Salafi political parties will be among those vying in upcoming elections.
Credit Asmaa Waguih / Reuters /Landov
Election banners hang near buses in Cairo on Monday. Parliamentary elections — the first since the end of President Hosni Mubarak's decades-long rule — will begin Nov. 28. Groups with Islamist ties are expected do well in the polls.
Delegates from across Afghanistan will convene tomorrow in Kabul. The Loya Jirga, or Grand Assembly, will discuss a long term strategic partnership with the United States. The issue is controversial in Afghanistan because it could involve permanent American military bases. The meeting itself is also controversial. President Hamid Karzai says the Loya Jirga will provide him with advice from the public, but his political opponents say Karzai is trying to use the assembly to extend his mandate.
On Thursday, Energy Secretary Steven Chu will answer congressional questioning over the handling of a large federal loan guarantee made to the solar energy company Solyndra. The California-based company was to be the first of many American green technology innovators to receive support from the U.S. government. Two years later, Solyndra went belly-up. Melissa Block speaks with Chu about the scrutiny he is now facing over his support of the company.
After weeks of game postponements, the NBA league made a final offer to players — and the players rejected it. Cancelling games affects the players and the fans, but it can also be devastating for the many businesses that revolve around the industry.
BRIAN NAYLOR, host: It's Tuesday, and time to read from your comments. When we talked to author P.J. O'Rourke about his new book "Holidays in Heck," many of you offered suggestions of where P.J. should go next. Wu Nyen Proul(ph) in Franklin, Kentucky, wrote: Visit Easter Island. It's such a humbling experience to stand before the Moai, sleep to the sound of waves, pure unpolluted air and great fish. Even a 4G iPhone can't get a connection. You and your family will enjoy what it's like to live without the Worldwide Web - these days, something one can only imagine.
The trail of tears — The forced migration of thousands of Native Americans from their ancestral homeland in the south West to Oklahoma — is taught in many classrooms as one of the darkest moments in American history.