Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the Company's income tax expense for the years ended December 31, 2012, 2011, and 2010 are as follows:



	Year ended December 31,
	2012			2011			2010
	(dollars in thousands)
Continued Operations
Current tax expense/(benefit)
Federal	$	—		$	—		$	121
State and local	(134		)	560			(149		)
Foreign	570			897			963
Total	$	436		$	1,457		$	935
Deferred tax expense/(benefit)
Federal	$	(1	)	$	2		$	(35	)
State and local	2			(6		)	(13		)
Foreign	2			(21,526		)	(22,287		)
Total	3			(21,530		)	(22,335		)
Total Tax expense/(benefit)	$	439		$	(20,073	)	$	(21,400	)
Discontinued Operations
Current tax expense/(benefit)
Federal	$	—		$	—		$	—
State and local	1			(5		)	—
Foreign	(1		)	(424		)	—
Total	$	—		$	(429	)	$	—
Deferred tax expense/(benefit)
Federal	$	9		$	—		$	—
State and local	—			—			—
Foreign	—			—			—
Total	9			—			—
Total Tax expense/(benefit)	$	9		$	(429	)	$	—
Total
Current tax expense/(benefit)
Federal	$	—		$	—		$	121
State and local	(133		)	555			(149		)
Foreign	569			473			963
Total	$	436		$	1,028		$	935
Deferred tax expense/(benefit)
Federal	$	8		$	2		$	(35	)
State and local	2			(6		)	(13		)
Foreign	2			(21,526		)	(22,287		)
Total	12			(21,530		)	(22,335		)
Total Tax expense/(benefit)	$	448		$	(20,502	)	$	(21,400	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reconciliations of the Company's federal statutory rate to the effective income tax rate for the years ended December 31, 2012, 2011, and 2010 are as follows:



	2012		2011		2010
Pre-tax loss at U.S. statutory rate	35.0	%	35.0	%	35.0	%
Stock compensation	(28.1	)	—		—
Change in valuation allowance	(7.6	)	(33.3	)	(29.9	)
Deferred asset recognition	—		11.5		27.2
Bargain purchase price	—		6.3		—
Minority interest reversal	(0.1	)	1.7		9.0
Other, net	(1.1	)	(4.5	)	(1.0	)
Total	(1.9	)%	16.7	%	40.3	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of the Company's deferred tax assets and liabilities as of December 31, 2012 and 2011 are as follows:



	2012			2011
	(dollars in thousands)
Deferred tax assets, net of valuation allowance
Net operating loss	$	135,108		$	109,893
Deferred compensation	23,373			38,191
Unrealized losses on investments	4,450			13,432
Goodwill	10,885			11,760
Legal reserves	803			3,592
Foreign tax credits	1,756			1,837
Acquired lease liability	1,036			1,456
Other	3,532			1,416
Total deferred tax assets	180,943			181,577
Valuation allowance	(161,181		)	(157,007		)
Deferred tax assets, net of valuation allowance	19,762			24,570
Deferred tax liabilities
Basis difference on investments	(15,351		)	(15,351		)
Fixed assets	(1,405		)	(5,207		)
Intangible assets	(1,230		)	(2,975		)
Other	(1,766		)	(1,028		)
Total deferred tax liabilities	(19,752		)	(24,561		)
Deferred tax assets, net	$	10		$	9

Summary of Operating Loss Carryforwards [Table Text Block]

The Company has the following net operating loss carryforwards at December 31, 2012:



	Federal		New York		Hong Kong
Jurisdiction:
Net operating loss (in millions)	$	316	$	377	$	13
Year of expiration	2032		2032		Indefinite