The Commerce Department reports the U.S. Gross Domestic Product grew at a 3% annual pace in third quarter despite damage from two hurricanes,. That was above economist expectations of a 2.7%, and only slightly below the 3.1% rate in the second quarter. The last time the economy had two consecutive quarters of above-3% growth was in 2014.
The Securities and Exchange Commission has settled with the software company Zenefits over allegedly making false statements in private offerings about whether its employees were properly licensed to sell insurance. The SEC found Zenefits not only didn’t take steps to license its workforce, it also didn’t spend enough time on pre-licensing education, allowed employees to sell insurance before they had taken and passed their exams, and permitted some employees licensed in one state to sell insurance in states they weren’t licensed. Zenefits and its former CEO, Parker Conrad, didn’t agree or deny to the findings they violated securities laws. Zenefits agreed to pay a $450,000 penalty, and Conrad agreed to pay a total of $533,692 in a fine, interest, and disgorgement.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
