Bill Saporito

Bill Saporito is an assistant managing editor of TIME and directs the magazine's coverage of business, the economy, personal finance and sports. A Time Inc. veteran, Saporito joined TIME in 1996 as a senior editor. He directed TIME's coverage of the global financial crisis, writing and editing stories about the stock market, investing, the mortgage industry, the real estate bust, bank bailouts and the U.S. auto industry. Previously, he was a senior editor at Fortune, where he was a member of the publication's board of editors. He began his career at the New York Daily News. Saporito received a B.A. from Bucknell University and an M.A. from Syracuse University. He and his wife live in Manhattan.

Articles from Contributor

Why Wendy’s Can’t Stomach Any More Arby’s

Where’s the beef? It’s not at Wendy’s/Arby’s Group any more. Private equity firm Roark Capital Group is going to buy Arby’s, the poorer performing part of Wendy’s, for $130 million plus debt and other considerations, an aggregate valuation of $430 million. I know what you’re thinking: has the buyer ever actually eaten at …

Groupon’s “Sellout” CEO Files for $750 Million IPO

In 2006, Andrew Mason was coaxed out of graduate school at the University of Chicago with an offer of $1 million in funding to convert his idea called The Point, which was designed to network people into social action, into a business. It went nowhere fast, says Eric Lefkofsky, the entrepreneur who provided the seed money. “People …

Bailout Bonus: Chrysler Pays Its Tab to Uncle Sam

There must be a sweet taste of revenge in Motor City these days, what with Chrysler having successfully raised $7.5 billion by selling bonds to Wall Street. Sure, the Fiat-run American automaker had to pay a stiff interest rate, but it did manage to raise money from the same folks who balked at taking a haircut when Chrysler was …

Sony’s Earthquake Writeoff Brings Net Loss to $3.2 Billion

Sony seems like a family that suffered the death of loved ones and then had its house burglarized while attending the funerals. The company announced that it would incur a $3.2 billion loss for the fiscal year that ended last March tied to natural disasters and an Internet break-in. Neither event will improve Sony’s ability to compete …

How Crazy is LinkedIn’s IPO?

It is Wall Street’s job to throw money at new companies, a Wall Street economist explained to me during the dotcom boom of a decade ago, when the valuations of IPOs were being questioned. We can report today that the Street, despite the dotcom bust and the real estate bust and the financial meltdown, has not only retained its

Raj Gets Nailed. The Ratings Agencies Beat the Rap

So the Feds got their big fish. The takedown of Raj Rajaratnam for insider trading is going to give U.S. Attorney Preet Bharara plenty of momentum in using an old prosecutorial weapon to go after a new set of miscreants. Rajaratnam was fried by his own words, obtained by the kind of wiretap that the prosecutors use to go after Mafiosi, …

Mysterious Airline Fees: Why the Government is Cracking Down

One of the many things that ticks us off about airlines is the lack of transparency: about the total cost of a flight, about flight delays, about whatever fee is coming down the pike next. That’s about to change.

Under new rules being imposed by the Department of Transportation, airlines will have to disclose all those extra fees they …

Paranoia Pays: Gold Crosses $1500

On Monday, S&P made U.S. debt more risky to hold by changing the long term outlook from “stable” to “negative.” Oddly, no one in the bond markets seemed to notice. Oh Tuesday the paranoia kicked in for the goldbugs. Now that gold has hit a record $1,500 per ounce, I’m not sure who’s more excited, the hucksters shilling gold …

Keeping Us Safe from Poker

It’s been an interesting couple of days in the place where money and gambling intersects, otherwise known as Wall Street. Over the weekend, the Internet gambling sites PokerStars, Full Tilt Poker and Absolute Poker got taken down by Preet Bharara, the U.S. Attorney for the Southern District of New York, which among other things covers …

Southwest’s Stress Test

Just took another look at my flight itinerary for Tuesday: yup, I’m booked on a Boeing 737. Great. It’s not on Southwest, so should I take the flight? Is the catastrophic risk higher this week than last week? Will flying ever cease to be an annoying pain in the butt?

Yes. No. I hope so. Southwest’s issue with its 737-300s—a hole …

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