Money Minute: Ex-College Player Sues NCAA, Wants to Get Paid

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A trial begins today that could change the landscape of college sports.

Former UCLA basketball star Ed O'Bannon is leading the charge against the NCAA. He says the association makes billions of dollars by putting college football and basketball players on TV, but won't share any of the revenue with the athletes. He's asking a judge in California to award tens of thousands of current and past players up to $1 billion to use their images for commercial purposes. This case is different from the one involving football players at Northwestern University, who could be granted the right to unionize and negotiate as employees.

Also disrupting the status quo is Uber, a fairly new service that allows people to hail a cab by using a smartphone app. At the end of last week, the company raised $1.2 billion from a group of private investors, so that it could expand beyond the 128 cities and 37 countries it already operates in. The money gives the fast-growing Uber an implied valuation of more than $18 billion. That makes the four-year old business bigger than corporate giants such as United Airlines (UAL), Alcoa (AA) and Sony (SNE).

Here on Wall Street, the Dow Jones industrial average (^DJI) and the Standard & Poor's 500 index (^GPSC) set several records last week and both closed at all-time highs on Friday. They both rose more than 1 percent for the week, and the Nasdaq composite (^IXIC) jumped 1.8 percent.

When you go food shopping, have you ever bought a bag of Apples -- maybe seven to a bag? Well, that's sort of what's happening to Apple's (AAPL) stock today. It closed Friday at $645 a share, and after Monday's unusual 7-for-1 stock split, the stock can be had for about $92 a share, but it will remain the most valuable company in the world. Over the past year, Apple's stock has jumped 47 percent.

Finally, less than a week after Folgers raised its price, coffee rival Maxwell House says it will do so too. The Kraft Foods (KRFT) brand is upping the price by about 10 percent.

-Produced by Drew Trachtenberg.


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