(Hot Trends article updated with information Oracle CEO losing bid for the Warriors, passing of the financial reform bill and RealtyTrac's foreclosure report.)NEW YORK ( TheStreet) -- Oracle ( ORCL) CEO Larry Ellison lost the bidding war for the Golden State Warriors basketball team on Thursday. Warriors owner Chris Cohan will sell the franchise to a group of partners for $450 million. Earlier reports projected that Ellison was ready to offer up to $401 million. Among the team's new owners are Joe Lacob, a part owner of the Boston Celtics, and Peter Guber, CEO of Mandalay Entertainment. Cohan bought the Warriors in 1995 for $119 million.
Wall Street reform is a commonly searched topic after the Senate passed the financial reform bill on Thursday. The bill may be a great victory for Democrats, but without the 3 Republican votes from Susan Collins and Olympia Snowe of Maine and Massachusetts Senator Scott Brown, the bill would not have made it out of the Senate. The bill lays out new regulations on banks intended to protect consumers who were affected by the massive financial collapse in 2008. The bill now moves on to the White House and awaits President Obama's signature.
Foreclosure sales is trending on Yahoo following the release of RealtyTrac's mid-year 2010 U.S. foreclosure report on Thursday. RealtyTrac reported a total of 1.96 million foreclosure filings on 1.65 million properties in the first half of 2010. The report also stated that 1 in every 78 homes in the U.S. received at least one foreclosure filing in the first 6 months of the year. "The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank repossessions," RealtyTrac CEO James Saccacio said in the report.