Money Minute: Lance Armstrong Loses Bid to Dismiss Lawsuit


Lance Armstrong is one step closer to losing a fortune. A federal judge shot down Lance Armstrong's request to dismiss a civil suit brought against him by the Justice Department.

The government is seeking almost $100 million from Armstrong for taking performance-enhancing drugs while accepting government sponsorship money. Armstrong's team was paid $40 million from 1998 to 2004 and half of it went to Armstrong.

His former teammate Floyd Landis first revealed Armstrong's doping to the government and under whistleblower rules he can share in some of the monetary awards.

General Electric's (GE) GE Capital unit has to pay $225 million to customers for misleading and discriminating against them. The Consumer Financial Protection Bureau says the credit-card issuer, which is now called Synchrony Bank, charged for certain services when stating they were free and denied debt relief offers to 108,000 people either living in Puerto Rico or asking to be served in Spanish. The Justice Department says it is the largest credit-card discrimination settlement in history.

On Wall Street on Thursday, the Standard & Poor's 500 index (^GPSC) notched its 21st record high of the year, gaining 2 points. The Dow Jones industrial average (^DJI) gained 14 points but the Nasdaq composite (^IXIC) fell 3 points.

Half of the fun of watching events like the Oscars is tweeting about it to your friends. Well, Twitter (TWTR) just bought a software company called Snappy TV that will make it easier for you to post short clips of whatever you're watching so your followers can relive your favorite small screen moments. This follows the launch of its Vine app that allows you to share short clips. Clearly Twitter wants to make TV and Twitter something that go hand in hand like ice-cream and break-ups.

Tobacco TaxWell something that hasn't gone hand in hand is Netflix (NFLX) and talk shows ... until now. The company announced it has signed Chelsea Handler to star in a new talk show. The brazen blonde is ending her seven-year run on the E! Network this August. It is unclear how Netflix, which is known for creating binge worthy content, will handle a talk show that tends to deal with current events. But they have plenty of time to figure it out. The show premieres in 2016.

-Produced by Karina Huber.

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landis an admitted doper is getting a cut.....maybe he should to refund the usps for the times he raced and won under their banner......also for the injustice department.......glad you took down a known doper.......what about the banks the caused the all the financial problems they get bonuses and never have to pay anything back........

June 20 2014 at 2:00 PM Report abuse +1 rate up rate down Reply
1 reply to william01609's comment

Maybe, if you're tired of pointing out publicly that you're a moron, you might want to check out what happened to Landis when he stopped going along with Armstrong's scam. Nah, you're a bagger, and you hate facts, don't you?

June 20 2014 at 2:36 PM Report abuse +1 rate up rate down Reply

Why this when the US "injustice dept" had never done anything about the "banksters" that almost trashed the world's economy? Why this when the US "injustice dept" has never done anything about the chief war criminal "W"?

June 20 2014 at 12:30 PM Report abuse +3 rate up rate down Reply
1 reply to WELCOME STEVE's comment

If Bush is a war criminal, then your boy barack is ten times worse. Your occupy bus is leaving and its a short one.

June 20 2014 at 12:48 PM Report abuse rate up rate down Reply

and after the legal fees the $225 million owed to GE will mean roughly 80 cent checks for everyone. hooray...we can't even pay for an item on the dollar menu.

June 20 2014 at 12:21 PM Report abuse +1 rate up rate down Reply

I'd like to know his secret to handle continual adversity.

June 20 2014 at 10:03 AM Report abuse -2 rate up rate down Reply

I agree mily469

June 20 2014 at 9:59 AM Report abuse +1 rate up rate down Reply