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3M (NYSE: MMM) probably isn't going to make the average investor a millionaire. It's an attractive value proposition because, based on the commentary of new CEO Bill Brown, there's plenty of scope ...
All of that litigation is casting dark clouds over 3M's future, since it ended its latest quarter with a negative operating cash flow of $1.8 billion, $11.3 billion in long-term debt, and just $7. ...
3M (MMM) closed the most recent trading day at $114.81, moving -1.47% from the previous trading session.
In December 1992, MMM-Invest was created as a voucher investment fund, a type of entity created to collect privatization vouchers. [8] It was renamed Russ-Invest in May 1995, to distance it from the MMM scheme. [8] The MMM Ponzi scheme was launched in February 1994, [9] promising annual returns of up to 3000 %. [10]
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MMM Global (also known as МММ-2011 / МММ-2012) is a Ponzi scheme launched in 2011 by Sergei Mavrodi, with subsidiaries in up to 110 countries. [citation needed] MMM Global is a new avatar of the Russian company MMM, also created by Mavrodi and which operated from 1989 to 2004.
MMM-2011 was able to function openly as Ponzi schemes and financial pyramids are not illegal under Russian law. [14] In May 2012 he froze the operation and announced that there would be no more payouts. [citation needed] In 2011 he launched a similar scheme in India, called MMM India, again stating clearly that the vehicle was a pyramid. [15]
In the latest trading session, 3M (MMM) closed at $190.88, marking a -0.23% move from the previous day.